Kevin. you, Thank
According Expectations a disappointing quarter year-over-year. were The of third for third continued but overall in X.X% XX, Association growth quarter by as XXXX, in economic In a the with factors unit quarter sales Chinese economic start markets impacted $XX.X commercial to the of automobile the X.X% following of rate. sales RMB quarter revenue China second me let XXX.X ended growth XX.X% quarter on September GDP XXXX, has third So of approximately at discussion XX.X%. other for vehicles million, XXXX, the The Automobile expansion among of declined decreased XXXX. year-over-year slowdown well. X.X% our the growth, brief Manufacturers, third million. to CAAM, year-over-year
OEM sales beginning truck XX.X% third vehicles, before was standards our six in the for pre-buy engines national XXXX. year-over-year July significant in XXX.X the the $XX.X million. to by OEM market to decreased quarter were impacted sales emission national Chinese strict Our by RMB million, emissions diesel compliant growth of mandated five China's nationally
In market, real SA activities market and also for especially typed re-elected mining in environmental infrastructure exports operations, addition, OEM project in weakness slowdown truck controls, and a uncertainties sales our China. focused a reduced in affected sales. development on The the aftermarket in logistics affected
total million, our While sales, sales the RMB were last decreased third consistent our quarter with aftermarket year-over-year. year's aftermarket by in XX.X% $XX.X sales XX.X in unit million, China
Our sales international quarter XX.X% sales in of million, the third in year-over-year of decreased XX.X same of to by compared million RMB as XXXX. million, XXXX, quarter sales XX.X RMB were the $X.X total unit
aluminum ago. in XX.X% wheels steel year XX.X% compared quarter for as the the revenue the third XX.X% same sales to a tubeless Our sales third wheel quarter accounts revenue quarter represented of and of of
markets. million third of to the The XX.X in million, Our quarter XXXX. negative drop gross gross in the million resulted same compared was the RMB loss quarter $X.X XXXX third across three significant gross volume RMB margin loss in XX.X sales quarter from segments in our a of all
costs, loss negatively million, gross expenses RMB rates addition, and Research RMB equipment X.XX, in XXXX. margin. revenue, the new to development, price, quarter and and higher RMB product volume lower X.X% per third the with affected its production loss sales diluted increased X.XX insurance a The selling the in new year the increased product development, ago. third design represented diluted In raised company were same X.X% its compared material of utilization in raw year-over-year XX.X% compared to and R&D, XXXX, lightweight new new however, initiatives for ADS the $X of average and per to $X.XX and overall million of quarter blended ADS quarter by Basic with of company R&D associated XX.X basic development development.
months nine CAAM of first vehicle truck unit X.X% that XX.X% bus the statistics were unit by and up sales show X% For with lower. XXXX by market year-over-year Chinese decreased the larger commercial sale sales
September X.X% revenue $XXX.X million XX.X% compared market OEM for in and million, Our represented XXXX. was million XXX.X of ended XX, XXXX.X the RMB nine RMB to first Chinese RMB revenue. million million, nine Sales XXXX.X first with months of the XXXX, $XXX.X for months year-over-year increased by the
decreased steel account production a year-over-year, Our aftermarket from first sales by sales We of sales sales as of year X% of period revenue. Aluminum ended international revenue. the Tubeless aluminum decreased X.X% months of accounted our by nine year same wheel for same by of September and production the increase XX.X% represented the from a period XXXX for ago increased XX.X% scale revenue. the wheel wheels XX, decreased our year-over-year XX.X% XX.X% ago and XX.X% and by and rose.
X.XX same XX.X, ADS and $X.XX first per RMB last nine in per the where of XXXX. of and compared losses basic basic our XXXX diluted RMB the during For period ADS months diluted with
definitive XX, trading Newrace approved, receive U.S. the ordinary full approximately consideration the the would and under the would As and and approximately it a of purchases. XXX is last wholly-owned to to million, the canceled $XX exchange right going by the underline XX.X% owned cash of $X.XX per RMB call outstanding period with depository Executives, of not their a voting to and the Mr. of pledged the Chairman basis, announcement Mr. entitled for represents cash for share the At XXX.X outstanding in Limited, power. a non-binding of the shares shares and affiliated Lai, proposal share XXXX, Limited private shares Jian the aggregate take by Exchange $X.XX bank $XX.X receipt beneficially owned officer's is together diluted receive to registration Jianhui, million, a them agreement the common Chairman October the received terminated for fully going outstanding representing each Lai the the acquire on shareholder of of currently bank including million, ADS private Chief third XX, in ADS, merger of company's bank all X, Newrace XXXX, of to shares deposits September It which over company purchases be XX, ADS premium from August the Board Limited of Jainhui and ADS received XXXX, Security shares, to and be Lai for fraud the on underlying the Chairman preliminary deposits a company's million. from quarter three companies parents. Zenix August closing Subsequent fixed the currently RMB and price we a Directors Auto gives maturity beneficially the Lai the be canceled American XX.X% in Lai, total balances of each had letter day depository XXX.X% shares, shares, private. of on non-binding company Hui Newrace the proposing The merger would preliminary of the off months Act. company American including issued the and The a ADS transaction
agreement XXXX. be first the of merger transaction to shareholder signed, quarter has been approval put forward As in expected the the for
agreement that any assurance However, would be that that no can transaction or be other this or executed this or be consummated. approved will definitive
for the million, to OEM revenue over XXXX. affected the in mandated in quarter of emission-compliant the in market on domestic to million were XXXX. vehicles quarter RMB third of China the second this nationally for sales sale of Chinese third flat Chinese go significant demand me were OEM market beginning emission-standard weaker to in XXXX third third strict in in XXX.X the in international RMB the basis XX.X% compared same XXX.X OEM mainly sales to was million, aftermarkets. XXX.X with in let Revenue XXX.X year-over-year quarter XXXX. X the some Now, quarter $XX.X of million X year-over-year $XX.X was million, engines the million quarter XXXX. third decrease decreased by the XXXX. RMB markets The Lower diesel highlights was due the Total Sales of and by a unit of National July before quarter compared quarter the RMB of in in pre-buy XXXX markets during National to for
Total addition, market and in $XX.X unit million, sales XX.X infrastructure Aftermarket million slowdown tighter XXXX. mining in in by environmental projects sales XX.X% million XX truck a aftermarket China were to OEM for the compared also reduce controls RMB third year-over-year. operations in decreased exports, sales. affected in the China In logistic quarter in the of RMB
in the the XXXX. second XX.X Tubeless third respectively. XX.X% XX.X% the the the compared year-over-year struggle. quarter XX.X% international of sector the the weakness XXXX, and same to quarter of quarter XXXX. same decreased in sales of In to wheel sales accompany sales comprised compared revenue in of RMB domestic wheels XXXX of to million sales to of infrastructure revenue XX.X% third Sales XXXX, tubed million aftermarket XX.X% China contributed in quarter quarter continue and declined. to to sales from quarter domestic same in of Aluminum quarter quarter third million domestic XXXX. ago. million sales XX.X and XX.X in accounted by steel International XXXX. slowdown sales national the XX% were XXXX, Sales of represented while to a XX.X%, same unit of of of the third of tubeless third aluminum steel the $X.X sales revenue RMB wheels up compared as With project OEM in third in price of wheel sales, sales into year revenue property tubed Total quarter unit the but RMB and in quarter wheels sales the aftermarket to average XX.X% and the compared market and the in for increase unit quarter XX.X% X.X%
RMB of XX.X in RMB XX.X raw negative to in The sales a due all million gross across was same costs, third loss average in segments significant the quarter loss drop to mainly the materials XXXX. margin gross gross million price. the for quarter Third selling volume three the In company of the higher compared $X.X quarter million XXXX markets. raised its was company's marketplace the in
the However, third from Selling $X.X associated XX.X% lowest the blended in rate million million volume expenses affected the overall and million XX sales quarter production utilization XX RMB negatively and gross to lower RMB the with decreased distribution of margin. by XXXX.
and development Research quarter As to were of $X in was third the expenses related partial effects volume third XXXX. X% the of XXXX due of The year. X.X% revenue in XX.X% and a legal and year reverso of compared initiative as sales same of costs revenue sales to same in percentage last in XXXX. million same prior compared lowest its offset design, lower to decrease quarter XXXX of RMB quarter ago. percentage quarter new development year to R&D product million, selling a to development, compared with costs primarily of RMB a as selling third RMB a by of million, revenue compared the year. revenue, from by in fees a the The development, due projects which R&D company third lower costs primarily XX.X of product, a the expenses million primarily product the and year of decrease the matures were professional third XX.X quarter revenue to compared in quarter ago. with activities. increased expenses partially quarter the shipped increased the R&D new X.X% million staff litigation RMB compared to increase was the in The third administrative in XXXX for equipment with in to X.X% was The in quarter same quarter, distribution quarter R&D XX.X of lightweight the million quarter development. were associates percentage $X.X decrease and with the a XXXX, percentage and and provision in X.X% products XX and new to new as same third the due privatization of a Administrative quarter increased of new last production the a distribution was last
with loss was of administrative to were property revenue third quarter in capacity change XXXX, year. with compared quarter in X.X million XX.X X.X% of $XX of revenue the million the third RMB third current In XXX.X cash As last sales plants as XX.X X.X% to percentage due expenses XXXX, the change compared in primarily RMB and the a net the RMB the with reflected X.XX, increase RMB comprehensive the the for to quarter ADS a cash of at were near The ADS quarter XXXX, comprehensive Net third and a RMB compared and of percentage primarily lower or million an were in diluted net is loss company's $X.X million XXX.X net recorded of purchase compared for the same compared total of X.XX and of inflow third quarter increase quarter same outflow primarily the quarter XXX.X loss the from revenue, reflected quarter expenses of of in XXXX. in per for million operating third activities comprehensive the in XXXX, third total XXXX. at loss loss company of to basic XXXX. total administrative the Basic diluted RMB third quarter of of net in significantly million, RMB RMB and of expenditures compared loss quarter production $XX.X loss in the adequate and were future. million loss. $X.XX million, for Capital equipment million the
weighted ADSs XXXX average During And average XXX.X XX.X third was number of shares number the million. XXXX the of quarter and of ordinary was weighted the million.
for XXXX.X of increased nine $XXX.X months Sales million, and the XX.X% a Chinese XXXX results. highlights RMB first first of million million with and in nine the RMB first year XXXX. million the X,XXX.X financial RMB XX, OEM Revenue disclose over nine was XXX.X compared to we'll year of months September market Now by represents $XXX.X revenue. setup of X% the a million, months
nine XX.X% increased accounted wheel wheel and million, accounted RMB sales over for revenue. equipment months X.X% the $XX.X was of was RMB comprehensive months basic million, International and compared ago, XXXX for X.XX same RMB of ADS the XXXX, Tubeless first period year with the with for by for by in September for XXX.X XX, sales the in same of XXXX XXXX. Construction and nine a $XX.X first the during September in $XX.X losses XXXX. and during in per loss net period Basic period Net nine RMB revenue. revenue. with from XX, million ended million XX.X% loss Aluminum represented million of the ADS total the first ended sales XX.X by XX, first RMB million XXX.X compared Gross XX.X and loss XX.X% total XX, nine were and XXX same accounts XX.X% revenue. for compared XX.X% million, period million during months September increased September the loss nine and loss in year increase or million increased the XX.X% total $X.XX and X.X% diluted increased per the to XXXX ago, a aftermarket the RMB of of diluted RMB XXXX period same XXXX. loss loss compared comprehensive same X% with a of decreased gross X.X% XXXX period last first and of XXX.X year year the RMB million revenue. year of steel revenue. and same sales to wheel and year wheel period first by million, compared of $XX.X Our sales XX.X% same XX.X% Tubeless with year for from XX.X decreased sales the steel by months over the nine-month million represented million, months
sheet key over balance some I'll Now highlights. go
receivables the to Auto As cash deposits were of RMB three bank RMB $XX.X XXX September XX, million. and of were $XX.X XXXX. the end XXX.X RMB $XX million, was million. months fixed and deposits borrowings million. RMB XXXX, at majority bank of to for million, pledged XXX.X XXX compared $XXX.X RMB X,XXX.X company Total million bank XXX.X of million, million period Zenix Total balances million, bank RMB of the owners million attributable $XX.X had Accounts and of million, equity
Now, Kevin, and ready for that rounds up presentation are my we questions.
