JSHX(600307)2021-04-29 16:00Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of RMB 517,778,385.46, a decrease of 58.15% compared to RMB 1,237,328,548.85 in 2019[18]. - The company's operating income for 2020 was RMB 37,021,045,089.81, down 20.79% from RMB 46,736,057,848.24 in 2019[18]. - The net cash flow from operating activities decreased by 64.33% to RMB 1,118,355,848.02 in 2020 from RMB 3,134,989,458.92 in 2019[18]. - The company reported a net profit after deducting non-recurring gains and losses of RMB 482,056,770.82, a decrease of 57.89% from RMB 1,144,621,184.19 in 2019[18]. - Basic earnings per share for 2020 were RMB 0.0829, down 58.05% from RMB 0.1976 in 2019[19]. - The company achieved a net profit of -RMB 15,701.5 million in 2020[58]. - The company reported a net profit of RMB 518,921,363.69 for 2020, down from RMB 1,243,569,810.04 in 2019, representing a decline of about 58.3%[192]. - Operating profit for 2020 was RMB 528,036,174.89, significantly lower than RMB 1,282,425,824.49 in 2019, indicating a decrease of approximately 58.8%[192]. Assets and Liabilities - The total assets at the end of 2020 were RMB 41,446,666,538.99, an increase of 4.70% compared to RMB 39,587,050,412.83 at the end of 2019[18]. - The total liabilities increased to RMB 29,098,481,643.22, up from RMB 27,724,275,413.66, indicating a rise of 4.6%[183]. - The total equity attributable to shareholders increased to RMB 12,317,019,703.48, up from RMB 11,808,752,785.11, marking a growth of 4.3%[183]. - The company's cash and cash equivalents were reported at RMB 4,391,454,968.15, which is a 5.9% increase from RMB 4,149,824,837.96 in 2019[177]. - The total amount of fixed assets was RMB 23,170,453,341.21, an increase of 4.94% compared to the previous year[47]. - The total liabilities reached RMB 26,539,990,372.36, an increase from RMB 25,548,752,050.94 in 2019, representing a growth of about 3.9%[190]. Operational Highlights - The company achieved a sales volume of 6.75 million tons in the northwest region, accounting for 77.37% of total sales[24]. - The total operating income for the year was 37.02 billion RMB, with Q2 and Q3 showing significant recovery compared to Q1[20]. - The company achieved an iron ore output of 9.0638 million tons in 2020, leveraging its own mining resources to maintain a low-cost advantage amid high domestic and international iron ore prices[27]. - The company successfully completed its production plan for iron and steel products, contributing to a significant increase in industrial output value, breaking the historical loss trend in December[29]. - The company reported a significant reduction in financial expenses by 30.26% to 510.97 million RMB[35]. Research and Development - Research and development expenses increased by 28.13% to 508.66 million RMB, indicating a focus on innovation[35]. - The company focuses on product research and development, successfully launching representative products such as zinc-aluminum-magnesium and antibacterial stainless steel, which support high-quality sustainable development[27]. - The company plans to enhance production efficiency and reduce costs through various strategies, including improving technical economic indicators and strengthening resource supply chains[63]. Environmental and Social Responsibility - The effective operation rate of environmental protection facilities reached 100%, with a 7.7% year-on-year decrease in sulfur dioxide emissions and a 68% reduction in chemical oxygen demand[32]. - The company has made significant progress in ecological environment protection, rectifying over 8,000 environmental issues throughout the year[32]. - The company invested 34 million yuan in the optimization of the rainwater discharge system, significantly improving wastewater management[110]. - The company has established a poverty alleviation warning mechanism to ensure the sustainability of poverty alleviation efforts[101]. - A total of 384 registered impoverished individuals were helped to escape poverty during the reporting period[97]. Governance and Compliance - The company has maintained compliance with legal and regulatory requirements, ensuring no significant debts remain unpaid and no violations occurred during the reporting period[87]. - The company has implemented a cumulative voting system for the election of directors and supervisors to protect minority shareholders' interests[154]. - The audit committee is chaired by a qualified accounting professional, ensuring effective oversight of financial matters[156]. - The company has established a system for managing insider information to protect investor rights and ensure fair disclosure[153]. Future Outlook - The company plans to produce 8.3 million tons of pig iron, 9.6 million tons of steel (including 990,000 tons of stainless steel), and 9.5 million tons of steel products (including 920,000 tons of stainless steel) in 2021, targeting an operating revenue of RMB 40.5 billion[63]. - The company anticipates that steel prices will remain strong due to high demand and supply conditions, although the operating environment remains challenging due to high costs[63]. - The company plans to focus on market expansion and new product development in the upcoming year[196].