Financial Performance - The company's operating revenue for Q1 2024 was CNY 20,391,635,931, representing a decrease of 10.31% compared to the same period last year[2]. - The net profit attributable to shareholders was a loss of CNY 310,998,961, with a significant decline in cash flow from operating activities, which amounted to a net outflow of CNY 1,307,684,219, a decrease of 178.92% year-on-year[2][4]. - The company reported a net profit attributable to shareholders of approximately RMB 238 million, a year-on-year decrease[8]. - The company's operating revenue for Q1 2024 was RMB 20,391,635,931, a decrease of 10.8% compared to RMB 22,736,558,090 in Q1 2023[16]. - The net loss for Q1 2024 was RMB 345,636,933, an improvement from a net loss of RMB 583,449,382 in Q1 2023[17]. - The company's operating loss for Q1 2024 was RMB 260,723,886, an improvement from an operating loss of RMB 540,602,499 in Q1 2023[17]. - The weighted average return on net assets increased by 0.63 percentage points to -1.13%[2]. - The company experienced a decrease in other comprehensive income attributable to shareholders, with a net amount of RMB (8,196,369) in Q1 2024 compared to RMB (11,873,000) in Q1 2023[18]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 85,306,511,263, reflecting a slight increase of 0.89% from the previous year[2]. - The total liabilities as of March 31, 2024, amounted to RMB 53,369,384,197, compared to RMB 52,272,711,584 as of December 31, 2023, reflecting an increase of 2.1%[14]. - The total shareholders' equity decreased to RMB 31,937,127,066 as of March 31, 2024, from RMB 32,279,541,351 as of December 31, 2023, indicating a decline of 1.1%[15]. - The equity attributable to shareholders decreased by 1.12% to CNY 27,457,160,113 compared to the end of the previous year[2]. - The total current liabilities as of March 31, 2024, were RMB 44,158,231,179, slightly up from RMB 44,054,616,027 as of December 31, 2023[13]. Cash Flow - Cash and cash equivalents as of March 31, 2024, were RMB 5.14 billion, down from RMB 5.57 billion as of December 31, 2023[10]. - Operating cash inflow for Q1 2024 was CNY 18,953,778,089, a decrease from CNY 23,419,907,055 in Q1 2023, resulting in a net cash outflow of CNY (1,307,684,219) compared to a net inflow of CNY 1,656,982,367 in the previous year[20]. - Investment activities generated a net cash outflow of CNY (519,459,483) in Q1 2024, down from a net inflow of CNY 755,697,943 in Q1 2023[21]. - Cash inflow from financing activities increased significantly to CNY 5,652,273,785 in Q1 2024, compared to CNY 1,156,142,541 in Q1 2023[23]. - The net cash flow from financing activities for Q1 2024 was CNY 1,210,457,352, a recovery from a net cash outflow of CNY (2,850,010,346) in Q1 2023[23]. - The company reported a net decrease in cash and cash equivalents of CNY (638,569,141) in Q1 2024, compared to a decrease of CNY (413,630,165) in Q1 2023[25]. Production and Sales - The total production of pig iron was 4.5 million tons, and crude steel production was 4.91 million tons, showing a year-on-year decrease of 1.9% and 2.9% respectively[8]. - The average domestic steel price index decreased by 5.61% year-on-year, while iron ore prices dropped by 1.36%[8]. - The company reported a decrease in sales due to continued weak demand in the steel industry, impacting cash inflows from both sales and purchases[4]. - The company achieved a steel product export volume growth of 62.7% year-on-year in the first quarter[9]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 151,678, with the largest shareholder holding 47.31% of the shares[5]. - The company has no known relationships or concerted actions among the top shareholders listed[7]. Strategic Focus - The company is focusing on enhancing operational efficiency and cost management to mitigate losses in the current market environment[4]. - The company is focusing on transitioning from a production-oriented to a management-oriented approach to improve operational efficiency[8]. - The company launched new products including high-speed train wheels and special steel for electric vehicles, participating in the 2024 China Smart Electric Vehicle Technology and Supply Chain Exhibition[9]. - Research and development expenses for Q1 2024 were RMB 227,790,259, down from RMB 267,698,912 in Q1 2023, representing a decrease of 14.9%[16]. Other Financial Metrics - The company has ceased consolidating the financial statements of Maanshan Iron & Steel Group Co., Ltd., which has affected cash flow from non-steel operations[4]. - Accounts receivable increased to RMB 1.50 billion from RMB 1.40 billion, while notes receivable decreased to RMB 1.43 billion from RMB 1.71 billion[10]. - The cash flow impact from exchange rate changes was CNY (21,882,791) in Q1 2024, compared to an increase of CNY 23,699,871 in Q1 2023[25]. - The company reported a basic earnings per share of RMB (0.04) for Q1 2024, compared to RMB (0.07) in Q1 2023[18].
马鞍山钢铁股份(00323) - 2024 Q1 - 季度业绩