Financial Performance - Total assets decreased by 12.78% to RMB 84,552 million in 2023 from RMB 96,892 million in 2022[7]. - Operating revenue declined by 3.15% to RMB 98,938 million in 2023 compared to RMB 102,154 million in 2022[7]. - Net profit attributable to shareholders was a loss of RMB 1,327 million in 2023, worsening from a loss of RMB 858 million in 2022[7]. - The company reported a significant drop in cash flow from operating activities, down 70.01% to RMB 1,992 million in 2023 from RMB 6,642 million in 2022[7]. - Basic and diluted earnings per share were both -0.172 yuan in 2023, compared to -0.115 yuan in 2022[7]. - The net profit attributable to shareholders of the listed company was RMB 1,327 million, an increase in loss of 54.64% year-on-year[15]. - The company reported a net loss of RMB 505 million for the fiscal year 2023, leading to a recommendation not to distribute profits or increase capital from reserves[56]. - The total comprehensive income for 2023 was RMB (1,657,670,878), a substantial drop from RMB (861,033,641) in 2022[71]. Shareholder Information - The company did not declare any dividends for the fiscal year 2023[1]. - The total number of ordinary shareholders increased to 148,812 by the end of the reporting period[9]. Production and Sales - In 2023, the company produced 19.23 million tons of pig iron, 20.97 million tons of crude steel, and 20.62 million tons of steel products, representing year-on-year increases of 8.15%, 4.82%, and 3.66% respectively[15]. - The quarterly operating revenue for Q4 2023 was RMB 25,021 million, showing a slight increase from Q3 2023[8]. - Revenue from the steel industry accounted for 97% of total operating revenue, amounting to CNY 93.64 billion[30]. - Revenue from mainland China was RMB 95,381,877,669 in 2023, up from RMB 94,515,743,414 in 2022, indicating a growth of about 0.92%[3]. Cost and Expenses - Operating costs decreased by 1.56% to CNY 97.31 billion, mainly due to lower prices of raw materials such as iron ore and coking coal[24]. - Management expenses decreased by 26.14% compared to the previous year, primarily due to a reduction in the number of employees[34]. - Research and development expenses totaled 3.98% of operating revenue, amounting to 39.38 million RMB[35]. Market Environment - The average annual comprehensive index of steel prices (CSPI) was 111.60 points, a year-on-year decrease of 9.02%[14]. - The overall industry environment remains challenging, with supply-demand mismatches and a severe market situation expected to persist in 2024[46]. Strategic Initiatives - The company implemented strategies focusing on cost reduction and efficiency improvement, leading to a noticeable improvement in operational performance in the second half of the year[15]. - The company plans to enhance technological innovation and develop new high-end products, including special steel for wind power and high-end cold-rolled coated steel[47]. - The company aims to enhance its governance system and operational efficiency through reforms in key subsidiaries, focusing on becoming a leading enterprise in the global rail transportation axle sector[53]. Cash Flow and Liquidity - Operating cash inflow for 2023 was RMB 88.85 billion, a decrease from RMB 93.78 billion in 2022, reflecting a decline of approximately 5.1%[75]. - As of December 31, 2023, the company's current liabilities exceeded current assets by approximately RMB 22.01 billion, raising concerns about liquidity[80]. Investments and Assets - Long-term equity investments increased by 58.31%, mainly due to capital injection into Baowu Financial Company[36]. - The total current liabilities decreased to RMB 44,054,616,027 in 2023 from RMB 54,151,564,967 in 2022, reflecting a reduction of 18.6%[68]. Corporate Governance and Compliance - The company continues to comply with the corporate governance code as per the Hong Kong Stock Exchange regulations[60]. - The audit firm KPMG has been appointed as the auditor, with total fees amounting to RMB 3.08 million, including RMB 340,000 for internal control audit[57].
马鞍山钢铁股份(00323) - 2023 - 年度业绩