JSHX(600307)2024-10-30 09:15Financial Performance - The company's operating revenue for Q3 2024 was ¥8,241,633,678.72, a decrease of 13.24% compared to the same period last year[2] - The net profit attributable to shareholders was -¥977,135,954.76, with a year-to-date net profit of -¥1,946,003,911.09[2] - The basic earnings per share for the period was -¥0.1560, with a year-to-date figure of -¥0.3107[2] - The weighted average return on net assets was -11.20%, a decrease of 11.55 percentage points year-on-year[2] - Total operating revenue for the first three quarters of 2024 was CNY 25.76 billion, a decrease from CNY 30.11 billion in the same period of 2023, representing a decline of approximately 14.5%[17] - The net loss for the first three quarters of 2024 was CNY 1.95 billion, compared to a net loss of CNY 357.09 million in the same period of 2023, reflecting a significant increase in losses[18] - The company reported a basic and diluted earnings per share of CNY -0.3107 for the first three quarters of 2024, compared to CNY -0.0570 in the same period of 2023, reflecting a worsening performance[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥47,809,977,417.55, reflecting a 7.78% increase from the end of the previous year[3] - The equity attributable to shareholders decreased by 18.73% to ¥8,241,413,543.06 compared to the previous year[3] - The company's total assets amounted to 47,809,977,417.55 CNY, an increase from 44,358,487,527.95 CNY in the previous period[16] - The company's total liabilities reached 39,568,563,874.49 CNY, up from 34,218,108,617.30 CNY[16] - The company reported a net loss of -6,255,666,040.89 CNY in retained earnings, compared to -4,313,590,029.80 CNY previously[16] - The company’s total equity decreased to 8,241,413,543.06 CNY from 10,140,378,910.65 CNY[16] Cash Flow - Cash flow from operating activities for the year-to-date was -¥1,450,038,623.17, indicating a significant cash outflow[6] - Cash flow from operating activities for the first three quarters of 2024 was negative CNY 1.45 billion, compared to positive CNY 298.51 million in 2023, indicating a deterioration in cash flow[20] - Cash flow from investing activities for the first three quarters of 2024 was negative CNY 3.55 billion, compared to negative CNY 2.54 billion in 2023, showing an increase in cash outflow for investments[20] - Cash flow from financing activities for the first three quarters of 2024 was positive CNY 3.60 billion, up from CNY 1.36 billion in 2023, indicating improved financing activities[20] - The cash and cash equivalents at the end of the third quarter of 2024 were CNY 1.92 billion, down from CNY 2.10 billion at the end of the same period in 2023, indicating a decrease in liquidity[20] Production and Operations - In Q3 2024, the company produced 168,770 tons of iron, 198,360 tons of steel, and 209,880 tons of materials, with cumulative production of 559,080 tons of iron, 658,780 tons of steel, and 646,270 tons of materials[13] - The company faced significant pressure due to a weak supply-demand situation in the steel industry, with steel prices continuing to decline sharply, while raw material prices fell less than steel prices[13] - The company is implementing a "quality improvement and efficiency enhancement" initiative to leverage its low-cost self-mined resources and enhance operational capabilities[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 192,074[7] - As of September 18, 2024, the controlling shareholder, Jiugang Group, had increased its stake by acquiring 237,083,078 shares, representing 3.79% of the total share capital, bringing its total ownership to 58.57%[14] Other Financial Metrics - The company reported a 58.68% increase in notes receivable and financing due to changes in the collection structure[5] - The company experienced a 426.22% increase in other current assets, primarily due to an increase in VAT credits[5] - The company’s inventory increased to 5,827,447,800.15 CNY from 5,605,004,828.31 CNY[15] - Research and development expenses for the first three quarters of 2024 were CNY 737.59 million, an increase from CNY 680.07 million in 2023, indicating a focus on innovation despite financial losses[17] - The company’s total assets impairment loss for the first three quarters of 2024 was CNY -180.58 million, which was not reported in the previous year, highlighting potential asset valuation issues[17]