Financial Performance - The company reported a net profit attributable to shareholders of RMB -7,122 million for the fiscal year 2024, compared to an adjusted net profit of RMB -3,255 million for 2023, reflecting a significant decline of 118.80%[31]. - Operating revenue for 2024 was RMB 105,101 million, down 9.06% from RMB 115,571 million in 2023[18]. - The company experienced a net cash flow from operating activities of RMB -787 million in 2024, a decrease of 148.08% compared to RMB 1,579 million in 2023[18]. - The total profit for 2024 was RMB -7,035 million, representing a decline of 70.38% from RMB -4,129 million in the previous year[131]. - The company reported a significant increase in income tax expenses for 2024, amounting to RMB 59 million, compared to a tax benefit of RMB 916 million in 2023, reflecting a year-on-year increase of 106.44%[164]. - The company reported a net loss of RMB 7,122 million for 2024, with no cash dividends proposed for shareholders[76]. Share Capital and Structure - The company reported a net asset value of RMB 2,028,817,600 at its establishment in 1997, with an initial issuance of 1,319,000,000 domestic shares at a par value of RMB 1 each[4]. - In 2007, the company completed a share placement of 1,106,022,150 shares at a price of RMB 15.4 per share, increasing total shares to 7,234,807,847[9]. - As of 2022, the company repurchased 52,450,023 A-shares for its stock incentive plan, reducing total shares to 9,369,221,258[11]. - The company implemented a capital reserve conversion plan in June 2019, increasing share capital by 2,170,442,354 shares, bringing total shares to 9,405,250,201[10]. - The company has a total of 7,993,710,201 A-shares and 1,411,540,000 H-shares after the capital increase[10]. - As of February 28, 2025, the company completed the repurchase and cancellation of 14,180,048 restricted shares, reducing the total share capital from 9,383,401,306 shares to 9,369,221,258 shares[118]. Market and Industry Context - The steel industry faced significant challenges in 2024, with national pig iron, crude steel, and steel production at 852 million tons, 1.005 billion tons, and 1.4 billion tons, representing year-on-year declines of 2.3%, 1.7%, and an increase of 1.1% respectively[34]. - The average China Steel Price Index (CSPI) for 2024 was 102.47 points, down 8.39% year-on-year, while the average CRU international steel price index was 197.5 points, down 10.21% year-on-year[35]. - The overall steel consumption in China decreased by 5.4% year-on-year, indicating a stronger decline in demand compared to production[34]. Production and Sales - The company produced 24.30 million tons of iron, 25.44 million tons of steel, and 23.98 million tons of steel products in 2024, with year-on-year decreases of 4.53%, 4.45%, and 2.54% respectively[41]. - The company achieved a steel sales volume of 23.95 million tons in 2024, a year-on-year decrease of 3.64%, with a sales-to-production rate of 99.90%[41]. - Steel processing industry revenue was RMB 104,704 million, accounting for 99.62% of total revenue, down 9.25% from RMB 115,380 million[68]. - Domestic revenue in China was RMB 97,804 million, a decline of 9.78% from RMB 108,411 million[68]. - The sales amount of the top five customers includes related party sales, which accounted for 37.32% of total sales in 2024, down from 39.93% in 2023[144]. Research and Development - The company established a technology innovation department and committee, leading to the development of over 100 key projects that generated a profit of RMB 204 million[42]. - R&D investment increased by 39.22% to RMB 3,972 million in 2024, up from RMB 2,853 million in 2023, with R&D expenditure accounting for 3.78% of operating revenue, an increase of 1.31 percentage points[177]. - The number of R&D personnel rose by 4.17% to 2,373 in 2024, with the proportion of R&D staff increasing to 9.48% from 8.45% in 2023[177]. - The company is developing corrosion-resistant steel for marine construction, aiming to enhance corrosion resistance by 3 times compared to traditional steel, with successful testing completed[165]. - The company has completed the development of a lifecycle assessment (LCA) platform for steel products, enhancing the accuracy of carbon footprint data for automotive and nuclear steel products[166]. Environmental and Social Responsibility - The company has committed to environmental and social responsibilities as part of its governance strategy[1]. - The company’s carbon emissions per ten thousand yuan of output decreased by 1.4% compared to the previous year, with the hot-rolled coil product achieving E-level carbon efficiency certification[51]. - The company is committed to developing green steel products and optimizing energy efficiency to support sustainable development[59]. Governance and Compliance - The company’s management emphasizes the importance of accurate financial reporting and compliance with legal responsibilities[3]. - The company maintained compliance with relevant laws and regulations, including the Company Law and Securities Law of China, as of December 31, 2024[114]. - The company has established a robust internal control system and has not identified any violations during the reporting period[124]. Future Plans and Strategies - The company plans to continue expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[1]. - The company aims to enhance its core competitiveness by focusing on six key capabilities: efficiency improvement, cost transformation, service leadership, technological advancement, smart manufacturing, and ecological integration[54]. - The company plans to invest RMB 3.16 billion in fixed assets and external investments in 2025, funding through self-owned capital, bank loans, and bond issuance[63]. - The company intends to deepen its innovation capabilities by accelerating the transformation of scientific research achievements into practical applications[58]. - The company plans to strengthen its marketing strategies and develop high-value-added new products to deepen its market presence[61].

Financial Performance - The company's operating revenue for Q1 2025 was RMB 25,079 million, a decrease of 9.89% compared to RMB 27,343 million in the same period last year[10]. - The net profit attributable to shareholders was a loss of RMB 554 million, an improvement of 66.55% from a loss of RMB 1,657 million year-on-year[10]. - Operating profit, total profit, net profit, and net profit attributable to shareholders of the parent company all significantly decreased year-on-year, primarily due to a smaller decline in sales prices compared to the previous year and an increase in unit profit from product sales[16]. - The net loss for Q1 2025 was RMB 541 million, an improvement from a net loss of RMB 1,647 million in Q1 2024[30]. - The total comprehensive loss for Q1 2025 was RMB 504 million, an improvement from a loss of RMB 1,519 million in Q1 2024[40]. Cost Management - The gross profit margin showed significant improvement, with the total profit loss reduced by RMB 1,091 million despite a challenging steel market[7]. - The cost per ton of steel decreased by RMB 102 compared to the previous year, with energy costs down by 10% and pig iron costs down by 12%[7]. - Total operating costs for Q1 2025 were RMB 25,734 million, down 12.0% from RMB 29,529 million in Q1 2024[29]. - The company aims to improve operational efficiency and reduce costs in the upcoming quarters to enhance profitability[29]. Cash Flow and Financing - The net cash flow from operating activities was RMB 381 million, a decrease of 45.80% from RMB 751 million in the previous year[10]. - Cash flow from operating activities for Q1 2025 was RMB 381 million, a decrease from RMB 703 million in Q1 2024[33]. - Cash inflow from financing activities totaled 11,192 million RMB, while cash outflow amounted to 11,233 million RMB, resulting in a net cash flow of -41 million RMB from financing activities[35]. - The net cash flow from financing activities for the first quarter of 2025 was 296 million, a significant improvement from a net outflow of 25 million in the first quarter of 2024[46]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 100,516 million, a slight decrease of 0.06% from RMB 100,578 million at the end of the previous year[10]. - Total liabilities reached RMB 52,349 million, an increase from RMB 51,907 million as of December 31, 2024[27]. - The company's equity attributable to shareholders decreased to RMB 47,159 million from RMB 47,679 million[28]. - Current assets totaled RMB 28,201 million, down from RMB 28,250 million in the previous period[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 98,357, including 441 H-share holders[18]. - The top ten shareholders held a total of 5,016,111,529 shares, accounting for 53.54% of the total shares[19]. - The top shareholder, Anshan Iron and Steel Group Co., Ltd., holds 5,016,111,529 shares, representing a significant portion of the company's equity[20]. Research and Development - R&D expenses increased by RMB 37 million year-on-year due to increased investment in external collaborative research projects and national scientific research topics[15]. - Research and development expenses increased to RMB 118 million in Q1 2025 from RMB 81 million in Q1 2024, reflecting a focus on innovation[29]. - The company reported a decrease in sales expenses to RMB 63 million in Q1 2025, down 50.8% from RMB 128 million in Q1 2024[39]. Management Changes - The company has appointed a new vice president and chief accountant, indicating a potential shift in management strategy[23]. Compliance and Standards - The company did not conduct an audit for the first quarter report[47]. - The new accounting standards will be implemented starting in 2025, affecting the financial statements from the beginning of the year[48].

证券代码：000898 证券简称：鞍钢股份 公告编号：2025-024 鞍钢股份有限公司 关于召开 2024 年度股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性 陈述或重大遗漏。 现场会议召开时间：2025 年 6 月 3 日 14:00 时整。 网络投票时间：2025 年 6 月 3 日，其中，通过深圳证券交易所交易系 统进行网络投票的具体时间为：2025 年 6 月 3 日 9:15-9:25，9:30-11:30， 13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 6 月 3 日 9:15-15:00。 5. 会议召开方式：采用会议现场表决和网络投票相结合的方式召开。 公司将同时通过深圳证券交易所交易系统和互联网投票系统 （http://wltp.cninfo.com.cn）向公司 A 股股东提供网络形式的投票平台，A 股股东可以在网络投票时间内通过上述系统行使表决权。同一表决权只能 1 一、召开会议基本情况 1. 会议届次：鞍钢股份有限公司 2024 年度股东大会 2. 会议召集人：本公司董事会 2025 年 4 月 ...

证券代码：000898 证券简称：鞍钢股份 公告编号：2025-023 本公司定于 2025 年 6 月 3 日召开公司 2024 年度股东大会。 鞍钢股份有限公司 第九届第三十六次董事会决议公告 本公司及其董事保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、董事会会议召开情况 鞍钢股份有限公司（以下简称公司）于 2025 年 4 月 15 日以书面和 电子邮件方式发出董事会会议通知，并于 2025 年 4 月 29 日在公司会议 室召开第九届第三十六次董事会，董事长王军先生主持会议。公司现有 董事 9 人，出席会议董事 9 人，其中非执行董事谭宇海先生、独立董事 汪建华先生、王旺林先生、朱克实先生、胡彩梅女士通过视频方式出席 会议；执行董事邓强先生因公务未能亲自出席，授权委托执行董事李景 东先生代为出席并表决。公司监事会成员列席会议。本次会议的召开符 合《公司法》《公司章程》的有关规定。 二、董事会会议审议情况 议案一、以 9 票同意，0 票反对，0 票弃权的表决结果，通过《鞍钢 股份有限公司 2025 年第一季度报告》。 《鞍钢股份有限公司 2025 年第一季度报告》刊登于 ...

Financial Performance - The company's operating performance improved year-on-year, with a total profit loss reduced by RMB 1.091 billion, and a significant improvement in sales profit margin despite a challenging steel market [5]. - The net profit attributable to shareholders was a loss of RMB 554 million, an improvement of 66.55% compared to the previous year's loss of RMB 1.657 billion [9]. - The weighted average return on net assets improved by 1.90 percentage points, reaching -1.17% [9]. - Total operating revenue for Q1 2025 was RMB 25,079 million, a decrease of 9.9% compared to RMB 27,831 million in Q1 2024 [29]. - Net profit for Q1 2025 was a loss of RMB 541 million, an improvement from a loss of RMB 1,647 million in Q1 2024 [29]. - The company reported a comprehensive loss of RMB 541 million for Q1 2025, compared to a comprehensive loss of RMB 1,647 million in Q1 2024 [29]. - Net profit for Q1 2025 was a loss of RMB 504 million, compared to a loss of RMB 1,519 million in Q1 2024, indicating an improvement [38]. Costs and Expenses - The cost per ton of steel decreased by RMB 102 compared to the previous year, with external energy costs down by 10% and pig iron costs down by 12% [5]. - Total operating costs for Q1 2025 were RMB 25,734 million, down 12.8% from RMB 29,529 million in Q1 2024 [29]. - Total operating costs for Q1 2025 were RMB 22,054 million, down 13% from RMB 25,451 million in Q1 2024 [38]. - Research and development expenses increased by RMB 37 million due to higher investments in external collaborative projects and national research topics [13]. - Research and development expenses increased to RMB 118 million in Q1 2025, up 45.7% from RMB 81 million in Q1 2024 [29]. - Research and development expenses increased to RMB 105 million in Q1 2025, up 59% from RMB 66 million in Q1 2024 [38]. Assets and Liabilities - The company's total assets decreased slightly by 0.06% to RMB 100.516 billion compared to the end of the previous year [9]. - Total liabilities as of March 31, 2025, were RMB 52,349 million, slightly up from RMB 51,907 million at the end of 2024 [27]. - Total shareholders' equity decreased to RMB 48,167 million as of March 31, 2025, down from RMB 48,671 million at the end of 2024 [27]. - Short-term borrowings increased significantly to RMB 7,420 million as of March 31, 2025, from RMB 1,174 million at the end of 2024 [27]. - Long-term borrowings decreased significantly to RMB 4,376 million from RMB 10,862 million at the end of 2024, a reduction of 60% [36]. - Current liabilities increased to RMB 43,871 million as of March 31, 2025, up 20% from RMB 36,582 million at the end of 2024 [36]. Cash Flow - Net cash flow from operating activities decreased by RMB 322 million year-on-year, with a reduction in cash inflow from steel sales prices contributing to a decrease of RMB 1,872 million [19]. - Cash flow from operating activities for Q1 2025 was RMB 381 million, a decrease from RMB 703 million in Q1 2024 [30]. - Cash flow from operating activities for Q1 2025 was RMB 400 million, a decrease of 51% from RMB 823 million in Q1 2024 [40]. - The net increase in cash and cash equivalents decreased by RMB 1,125 million year-on-year, attributed to reduced operating cash flow and increased investment expenditures [19]. - Cash and cash equivalents at the end of Q1 2025 were RMB 3,311 million, compared to RMB 3,211 million at the end of Q1 2024 [32]. - The company reported a cash and cash equivalents balance of RMB 1,729 million at the end of Q1 2025, compared to RMB 1,372 million at the end of Q1 2024 [40]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 98,357 [22]. - The largest shareholder, Anshan Iron and Steel Group Co., Ltd., holds 53.54% of the shares, totaling 5,016,111,529 shares [22]. Product Development - The proportion of high-end products increased by 3.28 percentage points compared to targets, with record production in cold-rolled products and significant export growth, exceeding plans by 11.1% [6]. - The company launched a new product for battery shell steel (ALDCK), marking its entry into the battery shell industry [6]. Contract Execution and Operational Efficiency - The execution rate of lifetime contracts improved by 3.2 percentage points year-on-year, indicating enhanced operational efficiency [6].

鞍钢股份（000898）公告，2025年第一季度营业收入250.79亿元，同比下降9.89%。净亏损5.54亿元， 去年同期净亏损16.56亿元。 ...

证券代码：000898 证券简称：鞍钢股份 公告编号：2025-022 鞍钢股份有限公司 关于控股股东增持公司股份取得专项贷款承诺函的公告 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 重要内容提示： 2. 贷款期限：1 年期。 鞍钢股份有限公司（以下简称公司或鞍钢股份）近日收到公司控 股股东鞍山钢铁集团有限公司（以下简称鞍山钢铁）通知，鞍山钢铁于 近日取得中国银行股份有限公司辽宁省分行（以下简称中国银行辽宁省 分行）出具的《贷款承诺函》。中国银行辽宁省分行承诺为鞍山钢铁提 供贷款用于股票增持，额度最高不超过人民币 1.8 亿元，贷款期限为一年。 贷款用于增持鞍钢股份 A 股流通股份，符合相关法律法规、监管规定及 政策。 一、增持计划的主要内容 公司于 2025 年 4 月 22 日在中国证券报、证券时报、上海证券报及 巨潮资讯网 http://www.cninfo.com.cn 披露了《关于控股股东增持公司 A 股流通股份计划的公告》，基于对公司未来发展的信心以及对鞍钢股份 价值的认可，鞍山钢铁计划于该公告披露之日起 6 个月内，通过深圳证 券交易所交易系统 ...

Financial Performance - The company's operating revenue for the fiscal year 2024 is RMB 105,101 million, a decrease of 9.06% compared to RMB 115,571 million in 2023[9]. - The total profit for the year is RMB -7,035 million, representing a decline of 70.38% from RMB -4,129 million in the previous year[9]. - The net profit attributable to shareholders is RMB -7,122 million, a significant drop of 118.80% compared to RMB -3,255 million in 2023[9]. - The basic earnings per share for 2024 is RMB -0.759, down 118.73% from RMB -0.347 in the previous year[9]. - The net cash flow from operating activities is reported at RMB -787 million, a decline of 148.08% compared to RMB 1,637 million in 2023[9]. - The company reported a net loss of 7,035 million for the year, resulting in a return on equity of -13.91%[197]. - Basic and diluted earnings per share were both -0.759 for the reporting period[197]. - The company achieved operating revenues of RMB 27,343 million in Q1, RMB 28,106 million in Q2, RMB 23,812 million in Q3, and RMB 25,840 million in Q4[14]. Assets and Liabilities - The total assets at the end of 2024 amount to RMB 100,578 million, an increase of 3.15% from RMB 97,506 million at the end of 2023[10]. - The total liabilities have risen to RMB 51,907 million, marking a 23.88% increase from RMB 41,901 million in 2023[10]. - The equity attributable to shareholders decreased by 12.93% to RMB 47,679 million from RMB 54,761 million in the previous year[10]. - The company's debt-to-equity ratio decreased to 0.94 times as of December 31, 2024, compared to 1.33 times on December 31, 2023[112]. - The company achieved a significant increase in long-term borrowings, rising to RMB 10,991 million (10.93% of total liabilities) from RMB 5,199 million (5.33%)[109]. Research and Development - The total number of R&D personnel increased to 2,373, a rise of 4.17% from 2,278 in 2023[92]. - R&D investment amounted to RMB 3,972 million in 2024, a significant increase of 39.22% compared to RMB 2,853 million in 2023[92]. - The proportion of R&D investment to operating revenue increased by 1.31 percentage points to 3.78% in 2024 from 2.47% in 2023[92]. - The company is focusing on the development of high-strength silicon steel for electric motors, achieving a yield strength of 600 MPa[91]. - The company completed the development of high-performance steel rails with a yield strength of over 690 MPa, aiming for a service life improvement of over 50%[91]. Market and Sales - The company is focusing on expanding its market presence by deepening integration of sales, research, production, and finance, particularly in the Northeast market[43]. - The export revenue increased by 1.91% to RMB 7.297 billion, while domestic revenue decreased by 9.78% to RMB 97.804 billion[48]. - The company's major customers accounted for 41.52% of total sales, with the top five customers generating sales of 43,643 million RMB[55]. - The company’s direct sales accounted for 51,535 million RMB, down 3.97% compared to the previous year[50]. Operational Efficiency - The company plans to enhance operational efficiency by optimizing production line efficiency and reducing costs across the entire process[45]. - The company implemented significant reforms, reducing the number of organizations by 44% and improving overall process efficiency by 10%[24]. - The logistics system reform effectively lowered logistics costs and improved efficiency, with high-end product proportion increasing by 7% and total production exceeding design capacity by 34.1%[25]. - The company achieved a 30 kg/t reduction in fuel consumption at its Anshan base, and external energy costs decreased by 7.3% year-on-year[26]. Environmental and Safety Initiatives - The company reduced carbon emissions per ten thousand yuan of output by 1.4% compared to last year, achieving E-level carbon efficiency for hot-rolled products[29]. - The company’s subsidiary became the first in Northeast China to achieve A-level environmental performance and successfully launched projects for low-carbon steel production[30]. - The company maintained a zero record for major production safety incidents and achieved 100% compliance in environmental management[31]. - The company has established a low-carbon steel production pathway, achieving a 30% reduction in carbon emissions for automotive steel products[122]. Future Plans and Strategies - The company continues to advance its "11361" development strategy, focusing on enhancing competitiveness and innovation capabilities[33]. - In 2025, the company aims to fully implement the directives from the 20th National Congress and subsequent meetings, focusing on high-quality development in the steel industry[35]. - The company plans to invest RMB 3.16 billion in fixed assets and external investments in 2025, with funding sourced from self-owned funds, bank loans, and bond issuance[41]. - The company aims to establish a smart carbon data management platform to promote green and low-carbon development[38]. Related Party Transactions - The total amount of related party transactions for procurement of main raw materials reached RMB 24,269 million, accounting for 35.14% of similar transactions[146]. - The procurement of steel products from related parties amounted to RMB 3,848 million, representing 8.31% of similar transactions[148]. - The company maintains a strong relationship with its controlling shareholders, facilitating efficient procurement processes[149]. - The company is committed to transparency in its related party transactions, adhering to the disclosure requirements set by the Hong Kong Stock Exchange[146].

Financial Performance - Operating revenue for the third quarter was RMB 23,812 million, a decrease of 7.99% compared to the same period last year[3]. - Net profit attributable to shareholders was a loss of RMB 2,395 million, representing a decline of 211.44% year-on-year[3]. - Basic earnings per share were RMB -0.255, down 210.98% from the previous year[3]. - Total operating revenue for the first nine months of 2024 was RMB 79,261 million, a decrease of 7.8% compared to RMB 85,946 million in the same period of 2023[26]. - Net profit for the first nine months of 2024 was a loss of RMB 5,058 million, compared to a loss of RMB 2,085 million in the same period of 2023, indicating a significant decline in profitability[28]. - The company reported a total comprehensive loss of RMB 5,042 million for the first nine months of 2024, compared to a loss of RMB 2,045 million in the same period of 2023[29]. - Net profit for the first nine months of 2024 was a loss of RMB 4,696 million, compared to a loss of RMB 1,613 million in the same period of 2023[41]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 98,898 million, an increase of 1.43% compared to the end of the previous year[4]. - Equity attributable to shareholders decreased by 9.37% to RMB 49,632 million[4]. - The total assets and shareholders' equity as of September 30, 2024, were RMB 98,898 million and RMB 50,625 million, respectively, compared to RMB 97,506 million and RMB 55,605 million as of December 31, 2023[25]. - Total liabilities rose to RMB 48,273 million from RMB 41,901 million as of December 31, 2023[24]. - The company's total liabilities increased from RMB 41,745 million at the end of 2023 to RMB 48,273 million by September 30, 2024[25]. - Current assets totaled RMB 21,401 million as of September 30, 2024, an increase of 4.0% from RMB 20,582 million at the end of 2023[37]. - The company's accounts receivable increased by RMB 1,236 million compared to the end of the previous year, mainly due to an increase in receivables from export products and customer products[9]. Cash Flow - Cash flow from operating activities decreased by RMB 3,192 million compared to the same period last year, mainly due to a decrease in cash received from sales of goods and services by RMB 15,722 million[13]. - Cash flow from financing activities increased by RMB 4,127 million compared to the same period last year, primarily due to an increase in cash received from loans by RMB 4,847 million[14]. - Cash flow from operating activities for the first nine months of 2024 was a net outflow of RMB 313 million, a decline from a net inflow of RMB 2,879 million in the same period of 2023[31]. - Financing activities generated a net cash inflow of RMB 2,346 million in the first nine months of 2024, a recovery from a net outflow of RMB 1,781 million in the same period of 2023[34]. - Cash inflow from financing activities reached 11,920 million in 2024, a significant increase of 53.7% from 7,781 million in 2023[48]. - Net cash flow from financing activities improved to 2,267 million in 2024, compared to a net outflow of (1,573) million in 2023[48]. Investments and Expenses - Research and development expenses for the first nine months of 2024 were RMB 295 million, down from RMB 357 million in the same period of 2023, reflecting a 17.4% decrease[26]. - The company reported a decrease in research and development expenses to RMB 255 million, down 15.6% from RMB 302 million in the same period of 2023[40]. - Investment activities resulted in a net cash outflow of RMB 2,241 million for the first nine months of 2024, compared to RMB 2,023 million in the same period of 2023[33]. - Cash outflow from investment activities was 2,477 million in 2024, up from 2,065 million in 2023, representing an increase of 20%[46]. Shareholder Actions - The company completed the repurchase and cancellation of 450,666 restricted shares, reducing total shares from 9,383,851,972 to 9,383,401,306[22]. - The company plans to repurchase an additional 14,180,048 restricted shares, pending shareholder approval[22].

Financial Performance - The company's operating revenue for the first half of 2024 was RMB 55,449 million, a decrease of 7.69% compared to RMB 60,067 million in the same period last year[25]. - The net profit attributable to shareholders of the listed company was RMB -2,689 million, representing a 100.07% decline from RMB -1,344 million in the previous year[25]. - The net cash flow from operating activities was RMB 572 million, down 77.26% from RMB 2,515 million in the same period last year[25]. - The basic and diluted earnings per share were both RMB -0.287, a decrease of 100.70% compared to RMB -0.143 in the previous year[25]. - The total profit for the period was RMB -2,623 million, representing a decline of 48.95% year-on-year[48]. - Cash flow from operating activities showed a net inflow of RMB 572 million, a decrease of 77.26% compared to the previous year[54]. - The company reported a net increase in cash and cash equivalents of RMB -264 million, an improvement of 79.25% year-on-year[57]. - The company reported a total revenue of 4,115 million with a net profit of -204 million, indicating a challenging financial performance[88]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 96,702 million, a decrease of 0.82% from RMB 97,506 million at the end of the previous year[26]. - The equity attributable to shareholders of the listed company was RMB 52,041 million, down 4.97% from RMB 54,761 million at the end of the previous year[26]. - As of June 30, 2024, the company's long-term borrowings amounted to RMB 5,657 million, with an average interest rate of 2.56%[63]. - The company's total capital commitments were RMB 3,440 million, primarily for investment contracts and construction contracts[63]. - The company's total assets to liabilities ratio was 1.21 as of June 30, 2024, down from 1.33 at the end of 2023[73]. - Total liabilities increased to 43,658 million RMB from 41,901 million RMB[198]. Production and Sales - In the first half of 2024, the company produced 12.13 million tons of iron, 12.86 million tons of steel, and 12.10 million tons of steel products, representing decreases of 8.23%, 6.99%, and 4.15% year-on-year respectively[35]. - The company sold 12.01 million tons of steel, a decrease of 6.07% compared to the same period last year, achieving a steel sales rate of 99.28%[35]. - Revenue from steel rolling processing accounted for 99.82% of total operating revenue, totaling RMB 55,351 million, down 7.71% from the previous year[59]. - Domestic revenue was RMB 51,767 million, representing 93.36% of total revenue, a decrease of 8.07% year-on-year[59]. Research and Development - The company increased its research and development investment, completing key technology tasks, with three projects selected for the State-owned Assets Supervision and Administration Commission's recommended list[39]. - The company’s research and development expenses were RMB 191 million, down 22.04% compared to the previous year[50]. - The company has filed 507 national patent applications, with 318 being invention patents, indicating strong innovation capabilities[47]. Environmental and Sustainability Initiatives - The company is committed to achieving ultra-low emissions and enhancing green development capabilities[92]. - Ansteel's carbon dioxide emissions per ten thousand yuan of output value reached 5.49 tons, with a target of reducing carbon emissions by over 30% for automotive steel products[124]. - The company traded 2.32 billion kWh of clean energy in the first half of 2024, with green electricity accounting for 783 million kWh, an increase of 337 million kWh year-on-year, resulting in a reduction of electricity costs by CNY 11.76 million[124]. - The waste gas comprehensive utilization high-efficiency power generation units with a total capacity of 405 MW are expected to be completed and put into operation in 2024, projected to generate an additional 480 million kWh of electricity and reduce carbon emissions by 200,000 tons[124]. Corporate Governance and Management - The company maintains compliance with corporate governance standards and has established effective internal control systems[100]. - The participation rate for the 2023 Annual General Meeting was 56.57%[102]. - The company appointed new executives, including Mr. Deng Qiang as an executive director and Mr. He Tianqing as a deputy general manager[105]. - The company has established a long-term incentive mechanism through a restricted stock incentive plan for directors and senior management to attract and retain talent[115]. Market and Industry Trends - The steel industry is facing a "three highs and three lows" situation, characterized by high production, high costs, high inventory, low demand, low prices, and low efficiency[89]. - Global iron ore production is expected to increase by 4.8% to 2.385 billion tons in 2024, while domestic iron ore production is projected to see slight growth[91]. - The company anticipates a decline in steel demand in 2024, particularly in construction steel, while demand for automotive and household appliance steel is expected to grow[91]. Related Party Transactions - The company has disclosed related party transactions in accordance with the listing rules, with a total procurement amount of 12,637 million RMB, accounting for 35.93%[142]. - The company reported a total of 5,363 million RMB in sales of products related to related party transactions, accounting for 7.33%[144].