重庆钢铁股份有限公司 2023 年年度股东大会会议资料 重庆钢铁股份有限公司 2023 年年度股东大会 会议资料 2024 年 6 月 重庆 重庆钢铁股份有限公司 2023 年年度股东大会会议资料 会 议 须 知 为维护全体股东的合法权益，确保股东大会的正常秩序和议 事效率，保证股东大会顺利进行，根据《中华人民共和国公司法》 《上市公司股东大会规则》等法律法规和《重庆钢铁股份有限公 司章程》的规定，请参会人员注意并遵守以下各项： 一、除依法出席会议的公司股东或股东代理人、董事、监事、 董事会秘书和其他高级管理人员、聘请的律师和董事会邀请参会 的人员外，公司有权拒绝其他人士入场。 二、现场参会的股东或股东代理人务必准时进入会场。会议 主席宣布现场出席会议的股东和代理人人数及所持有表决权的 股份总数之时，会议登记终止。在会议登记终止时未在"出席股 东签名册"上签到的股东或代理人，其代表的股份不计入出席本 次大会的股份总数，不得参与表决，但可在股东大会上发言或提 出质询。 三、股东或股东代理人参加股东大会依法享有发言权、质询 权、表决权等权利。股东或股东代理人参加股东大会，应当认真 履行其法定义务，不得侵犯其他股东 ...

Financial Performance - The operating revenue for the first quarter was CNY 7,736,437,619.53, representing a decrease of 26.11% compared to the same period last year[3]. - The net profit attributable to shareholders was a loss of CNY 333,758,307.26, with a basic and diluted earnings per share of -0.04 CNY[3]. - Total operating revenue for Q1 2024 was CNY 7,736,437,619.53, a decrease of 26.3% compared to CNY 10,470,409,086.22 in Q1 2023[19]. - Net loss attributable to shareholders for Q1 2024 was CNY -333,758,307.26, compared to a loss of CNY -105,451,906.05 in Q1 2023[24]. - Basic and diluted earnings per share for Q1 2024 were both CNY -0.04, compared to CNY -0.01 in Q1 2023[25]. - Gross profit for Q1 2024 was negative at approximately -¥329.91 million, worsening from -¥130.82 million in Q1 2023[43]. - Net loss for Q1 2024 was approximately -¥336.51 million, compared to a net loss of -¥122.27 million in Q1 2023, indicating a significant increase in losses[43]. Cash Flow and Liquidity - The net cash flow from operating activities was a negative CNY 832,893,230.43, primarily due to extended shipping cycles and increased capital occupation during the traditional off-season[4]. - Cash flow from operating activities in Q1 2024 was CNY -832,893,230.43, an improvement from CNY -1,027,469,422.83 in Q1 2023[29]. - Total cash inflow from operating activities in Q1 2024 was CNY 6,497,463,458.86, down from CNY 9,592,778,468.97 in Q1 2023, reflecting market challenges[28]. - The net increase in cash and cash equivalents for Q1 2024 was -CNY 1,058,399,294.28, an improvement from -CNY 2,080,268,309.47 in Q1 2023[32]. - The cash and cash equivalents balance at the end of Q1 2024 was CNY 773,365,182.88, down from CNY 1,857,664,523.81 at the end of Q1 2023, a decrease of 58.4%[32]. Assets and Liabilities - Total assets at the end of the quarter were CNY 37,233,967,502.10, a slight decrease of 0.33% from the end of the previous year[4]. - Current assets decreased to CNY 6,046,558,734.69 from CNY 6,051,987,303.55, indicating a decline of about 0.09%[13][14]. - Total liabilities increased to CNY 17,708,378,832.32 from CNY 17,502,703,730.69, representing an increase of approximately 1.18%[15][17]. - The total current assets as of March 31, 2024, were CNY 6,108,135,340.96, slightly down from CNY 6,149,594,046.43 as of December 31, 2023, a decrease of 0.7%[34]. - The total non-current assets decreased to CNY 30,817,253,798.75 as of March 31, 2024, from CNY 30,916,110,680.28 as of December 31, 2023, a decline of 0.3%[35]. - The total liabilities as of March 31, 2024, were CNY 17,616,356,911.07, compared to CNY 17,421,172,819.40 as of December 31, 2023, an increase of 1.1%[38]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 167,041[8]. - The largest shareholder, Chongqing Changshou Steel Co., Ltd., holds 2,096,981,600 shares, accounting for 23.51% of the total shares[9]. Operational Efficiency - The company experienced a significant decline in sales prices of raw materials, leading to increased losses during the reporting period[7]. - The company is currently facing challenges due to seasonal factors affecting production and inventory capital occupation[4]. - Research and development expenses increased to CNY 10,130,322.07 in Q1 2024, up from CNY 7,405,741.15 in Q1 2023, reflecting a focus on innovation[19]. - Sales expenses decreased to CNY 16,303,319.99 in Q1 2024 from CNY 22,064,523.52 in Q1 2023, indicating cost control measures[19]. - Management expenses reduced to CNY 61,118,846.69 in Q1 2024, down from CNY 71,594,388.84 in Q1 2023, showing operational efficiency[19]. - Interest expenses for Q1 2024 were CNY 45,990,470.00, significantly lower than CNY 71,900,486.30 in Q1 2023, indicating improved financial management[19].

Financial Performance - In 2023, the company's operating revenue was RMB 39.32 billion, an increase of 7.54% compared to RMB 36.56 billion in 2022[11]. - The net profit attributable to shareholders of the listed company was a loss of RMB 1.49 billion, compared to a loss of RMB 1.02 billion in the previous year[12]. - The total profit for the period was RMB -1.744 billion, with iron and steel production decreasing by 9.88% and 9.63% respectively[32]. - The basic earnings per share for 2023 is -0.17 RMB, compared to -0.11 RMB in 2022, and 0.26 RMB in 2021[15]. - The weighted average return on equity decreased to -7.26% in 2023 from -4.66% in 2022, a decline of 2.60 percentage points[15]. - The company reported a significant increase in revenue, with a year-on-year growth of 15% in Q4 2023, reaching a total of $1.2 billion[134]. - The company has set a revenue guidance for 2024, projecting an increase of 10% to reach RMB 66 million[151]. Cash Flow and Assets - The net cash flow from operating activities decreased by 30.48% to RMB 1.02 billion from RMB 1.47 billion in 2022[13]. - The net cash flow from operating activities decreased to RMB 1,022,039, a decline from RMB 1,470,087 in 2022, primarily due to a decrease in net profit[59]. - Cash and cash equivalents decreased by 51.56% to RMB 1,935,398, down from RMB 3,995,676 in the previous period[61]. - The total assets at the end of 2023 were RMB 37.36 billion, a decrease of 5.10% from RMB 39.36 billion at the end of 2022[14]. - The company reported a decrease in current assets to 6,051,987 thousand RMB in 2023 from 8,514,222 thousand RMB in 2022[22]. Production and Efficiency - The company produced 9.8509 million tons of steel in 2023, with significant improvements in various production efficiency indicators[28]. - The company achieved a self-generated electricity volume of 3.955 billion kWh in 2023, an increase of 0.905 billion kWh year-on-year, with a self-generation rate rising from 76.63% in 2022 to 84.89%[24]. - The company optimized its production efficiency, achieving a blast furnace utilization rate of 2.718 t/m³.d, an increase of 0.035 t/m³.d compared to 2022, with the best historical record of 3.278 t/m³.d for the No. 4 blast furnace[25]. - The company reported a processing cost of RMB 484 per ton for slab production, with a historical low of RMB 430 per ton in November 2023[25]. Research and Development - Research and development expenses increased by 29.01% to RMB 31.95 million, indicating a focus on innovation[33]. - The company successfully passed the "High-tech Enterprise" certification in 2023, enhancing its technological innovation capabilities[26]. - The total R&D investment for 2023 amounted to RMB 1,453,700,484.75, with R&D expenses recorded at RMB 31,948,556.02[58]. - The company employed 1,025 R&D personnel, representing 17.33% of the total workforce, with the majority aged between 30 and 40 years[54][56]. Market Position and Strategy - The company aims to maintain dynamic balance in supply and demand in the steel industry, with a target of achieving a 3.5% growth in industrial added value in 2023[27]. - The company is strategically positioned in Chongqing, benefiting from advantageous logistics and proximity to major economic initiatives such as the "Belt and Road" and "Yangtze River Economic Belt"[30]. - The company aims to enhance its market position in the southwestern region of China, focusing on green development and technological innovation to achieve high-quality growth[83]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[153]. Governance and Compliance - The company has established a comprehensive corporate governance system and effective internal control mechanisms in compliance with relevant laws and regulations[89]. - The board of directors consists of 9 members, including 3 independent directors and 2 independent directors with accounting expertise[91]. - The company has maintained a high standard of information disclosure, ensuring that all investors have equal access to accurate and timely information[92]. - The company has not experienced any incidents of major shareholders occupying company funds or assets as of the report date[90]. Environmental Responsibility - The company invested RMB 1.49788 billion in environmental protection during the reporting period[191]. - The total pollutant emissions for 2023 did not exceed the permitted limits, demonstrating compliance with environmental regulations[191]. - The company has implemented carbon reduction measures, successfully reducing carbon dioxide equivalent emissions by 62,418 tons[200]. - The green index improved from 74 points in 2022 to 76 points in 2023, reflecting enhanced environmental performance[200]. Employee and Management Changes - The management team has undergone changes, with the appointment of a new CFO expected to streamline financial operations and improve reporting accuracy[137]. - The company has a workforce comprising 4,964 male employees (83.92%) and 951 female employees (16.08%), reflecting a commitment to gender diversity[110]. - The company conducted training for 46,926 person-times, achieving an average of 139.4 training hours per person[182]. - The company reported a total of 8,539,720.84 CNY in compensation for its executives overall[128].

Financial Performance - The company reported a net loss of RMB 1.51 billion for the fiscal year 2023, with retained earnings at RMB -9.17 billion as of year-end 2023, leading to a recommendation not to distribute profits for the year [2]. - The net profit attributable to shareholders was RMB -1.49 billion in 2023, a decline from RMB -1.02 billion in 2022 [7]. - Basic and diluted earnings per share were both RMB -0.17 in 2023, compared to RMB -0.11 in 2022 [7]. - The total profit for 2023 was RMB -1.744 billion, a decrease of 45.13% compared to the previous year, primarily due to a 10.13% drop in the sales price of raw materials [21]. - The net profit after deducting non-recurring gains and losses was RMB -1,514,298 thousand for the year [16]. - The company reported a significant increase in research and development expenses, which rose to CNY 29,432,637.79 in 2023 from CNY 21,736,831.31 in 2022, marking an increase of approximately 35.5% [77]. - The company reported a total comprehensive income of CNY (1,040,353,180.96) for the year 2023 [79]. Revenue and Sales - Operating revenue increased by 7.54% to RMB 39.32 billion in 2023 compared to RMB 36.56 billion in 2022 [7]. - The company achieved a finished steel sales volume of 10.2895 million tons, representing a year-on-year increase of 22.74% [18]. - The sales revenue from hot-rolled products was RMB 17.998 billion, accounting for 46.11% of total revenue, with a year-on-year growth of 4.30% [22]. - Cash received from sales of goods and services in 2023 amounts to CNY 50,775,383,942.34, an increase from CNY 39,072,101,834.79 in 2022 [80]. Assets and Liabilities - Total assets decreased by 5.10% to RMB 37.36 billion in 2023 from RMB 39.36 billion in 2022 [7]. - The company’s total liabilities increased, with cash outflow for debt repayment amounting to CNY 2,562,355,799.63 in 2023 [83]. - The company’s total equity decreased to CNY 19,644,531,907.31 in 2023 from CNY 21,155,185,543.55 in 2022, a decline of approximately 7.1% [76]. - The company’s asset-liability ratio increased to 46.85% from 45.78% year-on-year, reflecting a 1.07% increase [16]. Cash Flow - The company achieved a cash flow from operating activities of RMB 1.02 billion, down 30.48% from RMB 1.47 billion in the previous year [7]. - The net cash flow from operating activities for 2023 is CNY 1,010,253,292.95, down from CNY 1,264,749,369.33 in 2022 [80]. - Cash flow from financing activities generated a net outflow of CNY (2,327,132,295.48) in 2023, compared to a net outflow of CNY (1,253,002,524.20) in 2022 [70]. Production and Capacity - The company has an annual steel production capacity of 10 million tons, with a diverse product range including hot-rolled sheets and rebar [5]. - The production of iron and steel decreased by 9.88% and 9.63% respectively, while the production of finished steel increased by 22.53% year-on-year [18]. - Total production of main products included 239.37 million tons of board materials, with a sales volume of 243.67 million tons, reflecting a year-on-year decrease of 6.66% in production [28]. Market and Industry Context - The company faces a complex and severe situation in the steel industry, requiring ongoing efforts to enhance supply and demand adaptability [43]. - The overall economic environment remains challenging, with uncertainties in global economic prospects and domestic demand [43]. - The company anticipates that the macroeconomic situation will improve in 2024, despite ongoing challenges [43]. Strategic Initiatives - The company plans to continue its cost reduction initiatives while improving technical economic indicators to enhance profitability [21]. - The company aims to enhance safety management capabilities and strengthen the responsibility system to improve operational efficiency [45]. - The company is committed to green development and technological innovation to establish a high-quality green intelligent manufacturing steel enterprise [45]. - The company emphasizes the importance of optimizing procurement and supply chain management to enhance operational resilience and efficiency [46]. Governance and Compliance - The company has established a three-member independent audit committee to oversee financial reporting and compliance [50]. - The company has adhered to the corporate governance code and has not identified any deviations from the standards [47].

Financial Performance - Chongqing Iron & Steel Company reported a total profit of RMB -1.202 billion for the year 2022, correcting a previous error that stated a profit of RMB 1.202 billion[2] - The error was only present in the Chinese version of the annual report, while the English version and related disclosures were accurate[2] - The company maintains that all other information and content in the annual report remain unchanged[2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 Chongqing Iron & Steel Company Limited 重 慶 鋼 鐵 股 份 有 限 公 司 limited company incorporated in the People's Republic of China with limited liability (股份編號：1053) 2023年第三季度報告 | --- | --- | |-------------------------------------------------------------------------------|--------------| | | | | 重 慶 鋼 鐵 股 份 有 限 公 司（「 公 司 」或「 本公司 」）董 事 會（「 董事會 | 」）及 全 體 | | 董事保證本公告內容不存在任何虛假記載、誤導性陳 ...

重 慶 鋼 鐵 股 份 有 限 公 司 Chongqing Iron & Steel Company Limited (H股股份代號：1053) （A股股份代號：601005) 2023 中 期 報 告 U重庆钢铁 第一節 釋義................... ω 第二節 公司簡介和主要財務指標. 4 第三節 管理層討論與分析 10 第四節 公司治理 29 第五節 環境與社會責任 32 第六節 重要事項 38 第七節 股份變動及股東情況 . 64 第八節 優先股相關情況 70 第九節 債券相關情況 . 71 第十節 財務報告 ........... 74 | --- | --- | |--------------|---------------------------------------------------------------------------------------------------------| | | | | | 載有公司現任負責人簽字和公司蓋章的半年報報告文本 | | | 載有公司負責人、主管會計工作負責人和會計機構負責人簽名並蓋章的半年度財務 會計報告 | | 備查文件 ...

Financial Performance - Operating revenue for the first half of 2023 was CNY 20.99 billion, an increase of 16.53% year-on-year[4] - Net profit attributable to shareholders for the reporting period was CNY -434.74 million, a decline of 184.18% compared to the same period last year[4] - Basic earnings per share for the reporting period were CNY -0.05, a decrease of 183.33% from CNY 0.06 in the same period last year[4] - The company's net profit for the first half of 2023 was a loss of RMB 515 million, a decrease of RMB 1.15 billion year-on-year[15] - The net profit attributable to the parent company for the first half of 2023 was RMB (434,740,206.19), compared to RMB 516,416,390.18 in the same period of 2022, representing a decline of approximately 184%[32] - Total comprehensive income for the first half of 2023 was RMB (434,740,206.19), compared to RMB 516,416,390.18 in the first half of 2022, indicating a significant decrease[32] Assets and Liabilities - Total assets as of June 30, 2023, were CNY 37.95 billion, a decrease of 3.59% compared to the end of the previous year[4] - The company reported a total equity of RMB 20,909,066,001.41 as of June 30, 2023, down from RMB 21,341,917,700.36 at the end of 2022[30] - The total liabilities as of June 30, 2023, were RMB 17,042,303,959.20, a decrease from RMB 18,022,882,702.66 at the end of 2022[29] - The company’s long-term borrowings increased to RMB 4,019,245,100.00 as of June 30, 2023, compared to RMB 2,751,945,100.00 at the end of 2022, indicating a rise in debt financing[29] - The company’s total current liabilities decreased to RMB 11,572,430,182.78 as of June 30, 2023, from RMB 13,062,529,956.71 at the end of 2022[29] Cash Flow - Cash flow from operating activities was CNY 414.52 million, down 55.74% from CNY 936.51 million in the previous year[4] - The net cash flow from operating activities for the first half of 2023 was RMB 414,520,654.04, down from RMB 936,510,963.14 in the first half of 2022[35] - Cash inflows from operating activities in the first half of 2023 amounted to RMB 21,281,122,763.32, an increase from RMB 19,745,939,208.11 in the same period of 2022[35] - Cash outflows from operating activities in the first half of 2023 totaled RMB 20,866,602,109.28, compared to RMB 18,809,428,244.97 in the first half of 2022[35] - Cash flow from investment activities for the first half of 2023 was a net outflow of (340,443,005.21), compared to (1,841,168,179.60) in the same period of 2022, indicating a significant improvement[44] Revenue and Costs - The company's operating costs increased by 25.81% year-on-year, totaling RMB 21.13 billion[14] - The average selling price of commodity billets was RMB 3,736 per ton, a decrease of 17.38% compared to the previous year, resulting in a revenue reduction of RMB 3.69 billion[16] - The sales volume of commodity billets was 5.42 million tons, an increase of 44.70% year-on-year, contributing an additional RMB 7.00 billion in revenue[16] - The gross profit margin for the steel industry was -0.67% in the first half of 2023, a decrease of 7.49% compared to the previous year[20] - The company implemented a cost reduction plan aiming for a reduction of RMB 200 per ton of steel, achieving a cost reduction of RMB 1.18 billion in the process[15] Shareholder Information - The total number of shareholders as of the reporting period was 167,651[5] - The largest shareholder, Chongqing Changshou Iron & Steel Co., Ltd., held 23.51% of the shares[6] - The company did not declare any interim dividends for the first half of 2023 due to accumulated undistributed profits remaining negative[23] Research and Development - Research and development expenses for the first half of 2023 were RMB 14,557,677.64, significantly lower than RMB 104,831,842.92 in the same period of 2022, indicating a reduction in R&D investment[31] - Research and development expenses significantly decreased to RMB 14.56 million, down 86.1% from RMB 104.83 million in the first half of 2022[40] Financing Activities - The company raised RMB 1,600,000,000.00 from borrowings in the first half of 2023, compared to RMB 395,000,000.00 in the same period of 2022[37] - Net cash outflow from financing activities was (1,081,155,780.23) in the first half of 2023, compared to (2,253,404,676.26) in the same period of 2022, showing a reduction in cash burn[44]

Financial Performance - The company's operating revenue for Q1 2023 was CNY 10,470,409,086.22, representing a year-on-year increase of 20.07%[2] - The net profit attributable to shareholders of the listed company was a loss of CNY 105,451,906.05, a decrease of 123.80% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 113,661,336.96, down 124.86% year-on-year[2] - The basic and diluted earnings per share were both CNY -0.01, reflecting a decrease of 120.00%[2] - Net profit for Q1 2023 was -¥105,451,906.05, compared to a net profit of ¥442,999,067.32 in Q1 2022, indicating a significant decline[23] - The total profit for Q1 2023 was -¥126,605,402.16, a stark contrast to a profit of ¥573,586,017.30 in Q1 2022[23] - The company reported a total operating profit of -130,817,018.26 CNY in Q1 2023, compared to a profit of 540,168,549.02 CNY in Q1 2022, indicating a significant decline[44] - Net profit for Q1 2023 was -122,269,851.32 CNY, a sharp decrease from 391,769,667.61 CNY in Q1 2022, reflecting a negative performance trend[44] - The total comprehensive income for Q1 2023 was -122,269,851.32 CNY, compared to 391,769,667.61 CNY in Q1 2022, indicating a substantial decline in overall financial performance[46] Cash Flow and Liquidity - The net cash flow from operating activities was a negative CNY 1,027,469,422.83, a decline of 468.91% compared to the previous year[2] - Cash flow from operating activities in Q1 2023 was -¥1,027,469,422.83, a decrease from a positive cash flow of ¥278,512,003.46 in Q1 2022[32] - The total cash inflow from operating activities in Q1 2023 was ¥9,592,778,468.97, compared to ¥7,443,616,534.80 in Q1 2022, marking a 29.4% increase[31] - Cash outflows from operating activities increased to 10,605,606,863.02 CNY in Q1 2023, compared to 7,270,206,892.12 CNY in Q1 2022, resulting in a net cash flow from operating activities of -1,026,934,859.46 CNY[48] - The company's cash and cash equivalents at the end of Q1 2023 were CNY 1,857,664,523.81, down from CNY 3,126,527,264.69 at the end of Q1 2022[35] - The company's cash and cash equivalents at the end of Q1 2023 were 1,857,324,578.40 CNY, down from 3,126,340,652.26 CNY at the end of Q1 2022, indicating a decrease in liquidity[51] Assets and Liabilities - Total assets at the end of the reporting period were CNY 38,940,427,129.72, a decrease of 1.08% from the end of the previous year[2] - Total current assets amounted to CNY 8,211,832,194.81, a decrease of 3.56% from CNY 8,514,222,407.34 on December 31, 2022[13] - Total non-current assets were CNY 30,728,594,934.91, slightly down from CNY 30,850,577,995.68, a decrease of 0.39%[14] - Total liabilities decreased to CNY 17,701,418,205.88 from CNY 18,022,882,702.66, a reduction of 1.78%[17] - The total assets as of March 31, 2023, were CNY 38,678,414,964.17, a decrease from CNY 39,094,446,785.81 at the end of 2022[41] - The total liabilities as of March 31, 2023, were CNY 17,644,437,223.82, slightly down from CNY 17,939,261,242.26 at the end of 2022[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 168,546[8] - The largest shareholder, Chongqing Changshou Iron & Steel Co., Ltd., held 2,096,981,600 shares, accounting for 23.51% of the total shares[9] - The top shareholder, Chongqing Changshou Steel Co., Ltd., holds 2,096,981,600 shares, representing a significant portion of the company's equity[10] - The company has a total of 10 major shareholders, with no reported related party transactions among them, except for Chongqing Changshou Steel Co., Ltd. and Baowu Group Zhongnan Steel Co., Ltd., which are under common control[11] Operating Costs and Expenses - Total operating costs for Q1 2023 were ¥10,607,423,444.43, up 29.5% from ¥8,195,033,135.10 in Q1 2022[21] - Research and development expenses for Q1 2023 amounted to ¥7,405,741.15, reflecting ongoing investment in innovation[21] - The company incurred interest expenses of ¥71,900,486.30 in Q1 2023, down from ¥83,217,052.33 in Q1 2022, indicating improved cost management[21] - The R&D expenses for Q1 2023 were CNY 7,405,741.15, reflecting ongoing investment in innovation[43] - The company invested 109,476,769.10 CNY in fixed assets and other long-term assets in Q1 2023, a decrease from 529,314,742.95 CNY in Q1 2022, indicating a reduction in capital expenditure[49]

Financial Performance - In 2022, the company reported a net loss of RMB 1.04 billion, a decrease of 144.82% compared to a net profit of RMB 2.27 billion in 2021[12]. - Operating revenue for 2022 was RMB 36.56 billion, down 8.25% from RMB 39.85 billion in 2021[12]. - The net cash flow from operating activities decreased by 73.85%, totaling RMB 1.47 billion compared to RMB 5.62 billion in 2021[12]. - The total assets at the end of 2022 were RMB 39.36 billion, a decline of 8.45% from RMB 42.99 billion at the end of 2021[12]. - The company's net assets attributable to shareholders decreased by 4.62%, amounting to RMB 21.34 billion at the end of 2022[12]. - Basic earnings per share for 2022 was -0.11 RMB, a decrease of 142.31% compared to 0.26 RMB in 2021[14]. - The weighted average return on equity decreased to -4.66% in 2022, down 15.39 percentage points from 10.73% in 2021[14]. - Total revenue for 2022 was 36,561,531 thousand RMB, a decline from 39,849,418 thousand RMB in 2021[25]. - The total revenue for the company was RMB 36.56 billion, a decrease of 8.25% year-on-year, while the total profit amounted to RMB 1.20 billion, reflecting a significant decline of 153.12%[46]. Operational Highlights - The company achieved record production levels for steel and materials, marking a significant operational milestone[26]. - The company achieved a steel production of 7.8735 million tons, a historical high, with the cost of slab steel production dropping to RMB 488 per ton in November, setting a new record[30]. - The steel rolling output reached 8.33 million tons, an increase of 17.82% year-on-year, marking a historical peak[30]. - The company’s production capacity was enhanced to 12 million tons, following the completion of structural adjustments and supporting projects in 2022[32]. - The company achieved production volumes of 7.23 million tons of iron, 7.87 million tons of steel, and 8.34 million tons of finished products, representing year-on-year increases of 7.20%, 10.65%, and 16.57% respectively, with steel and finished product output reaching historical highs[46]. Strategic Initiatives - The company aims to enhance its market position through strategic initiatives, although specific future plans were not detailed in the report[2]. - The company aims to become a leader in the steel industry in Southwest China, focusing on cost reduction and efficiency improvements[26]. - The company plans to continue its high-quality development strategy amidst challenging external conditions[26]. - The company is positioned to leverage its geographical advantages in Chongqing, benefiting from the "Western Development" and "Belt and Road" initiatives, with strong local demand for steel products[43]. - The company aims to become a leading steel enterprise in Southwest China, targeting a production capacity of over 10 million tons of high-quality green steel[40]. Environmental and Sustainability Efforts - The company is committed to green manufacturing and smart manufacturing, initiating a new round of development planning[40]. - The company implemented 8 energy-saving and carbon reduction projects, achieving a coal saving of 51,700 tons per year, with total energy-saving and carbon reduction cost savings of RMB 176 million in 2022[28]. - The comprehensive utilization rate of solid waste reached 99.9%, with a solid waste non-discharge rate of 99.92%[28]. - The company received the "Chongqing Green Factory" title in 2022, with an annual green development index of 74 points, an increase of 8 points year-on-year[28]. - The company is focused on enhancing its environmental governance and ecological civilization construction[118]. Governance and Compliance - The governance structure of the company adheres to relevant laws and regulations, ensuring transparency and accountability in operations[132]. - The company has established a comprehensive internal control system to support its governance practices and enhance shareholder value[133]. - The board of directors consists of 9 members, including 3 independent directors and 2 independent directors with accounting expertise[137]. - The company has maintained a high standard of information disclosure, with no instances of undisclosed information during the reporting period[140]. - The company has adhered to the corporate governance principles outlined in the Hong Kong Stock Exchange's Corporate Governance Code, reflecting its commitment to transparency and accountability[141]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements, urging investors to exercise caution[2]. - The company faces risks related to raw material price fluctuations, particularly with imported iron ore, which has increased cost control pressures since 2021[128]. - Environmental regulations may limit the company's steel production capacity, prompting a need for accelerated transformation and upgrades in 2023[127]. - The company emphasizes the importance of risk management and maintaining a flexible supply chain to adapt to market changes[127]. Research and Development - Research and development expenses increased by 109.81% to RMB 24.76 million, attributed to the rise in R&D projects[48]. - Total R&D investment amounted to RMB 1,359,520 thousand, constituting 3.72% of operating revenue[79]. - The number of R&D personnel was 822, making up 13.23% of the total workforce[81].