股票代码：600117 股票简称：*ST西钢 公告编号：临2023-079 西宁特殊钢股份有限公司 关于第一期员工持股计划存续期继续展期的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 西宁特殊钢股份有限公司（以下简称"公司"）第一期员工持股计划 （以下简称"员工持股计划"）的展期存续期将于2023年11月22日届满， 鉴于公司目前开展司法重组相关工作和基于对公司未来持续稳定发展的 信心及公司股票价值的判断，根据《西宁特殊钢股份有限公司第一期员 工持股计划（草案）(认购非公开发行股票方式)》和公司2015年第三次 临时股东大会的授权，拟对员工持股计划进行展期。具体情况如下: 一、员工持股计划基本情况 三、独立董事关于员工持股计划继续展期的意见 公司第一期员工持股计划展期事宜，符合中国证券监督管理委员会 《关于上市公司实施员工持股计划试点的指导意见》、《上海证券交易所 上市公司员工持股计划信息披露工作指引》及《西宁特殊钢股份有限公 司第一期员工持股计划（草案）(认购非公开发行股票方式)》等相关规 定的要求，不存在损害公司 ...

证券代码：600117 证券简称：*ST 西钢 公告编号：2023-080 西宁特殊钢股份有限公司 关于召开 2023 年第一次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2023 年第一次临时股东大会 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东 大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联 网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 召开的日期时间：2023 年 9 月 4 日 10 点 00 分 召开地点：西宁特殊钢股份有限公司 101 会议室 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2023年9月4日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会 ...

证券代码：600117 证券简称：*ST 西钢 编号：临 2023-078 高级管理人员变更情况 西宁特殊钢股份有限公司（以下简称"公司"）董事会近日收到 副总经理何小林先生的书面辞职申请，何小林先生因工作调动，申请 辞去公司副总经理职务。何小林先生任职期间，恪尽职守、勤勉尽责， 公司董事会对何小林先生在任职期间为公司所做出的贡献表示衷心 感谢。 特此公告。 西宁特殊钢股份有限公司董事会 2023 年 8 月 16 日 西宁特殊钢股份有限公司 关于高级管理人员变动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 ...

证券代码：600117 证券简称：*ST 西钢 公告编号：临 2023-036 西宁特殊钢股份有限公司 关于参加青海辖区上市公司2023年投资者网上 集体接待日暨2022年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 本次投资者接待日活动定于 2023 年 6 月 2 日（星期五） 14:00-17:00，通过深圳市全景网络有限公司提供的网上平台以网络 形式举行。 三、参加人员 公司出席本次投资者网上接待日活动的人员有：董事兼总经理张 伯影先生、董事兼财务总监周泳先生、董事会秘书焦付良先生。 四、投资者参加方式 重要内容提示： 举办时间：2023 年 6 月 2 日（星期五）14:00-17:00 举办方式：网络互动形式 一、网上接待日类型 为进一步加强与投资者的互动交流，西宁特殊钢股份有限公司 （以下简称"公司"）将参加由青海证监局、青海证券业协会、深圳 市全景网络有限公司举办的"青海辖区上市公司 2023 年投资者网上 集体接待日暨 2022 年度业绩说明会"主题活动，与投资者就 2022 年 年度 ...

Financial Performance - The net profit attributable to shareholders for 2022 was -1,150,677,727.48 RMB, resulting in a total distributable profit of -4,334,111,827.70 RMB[4]. - The company decided not to distribute cash dividends or issue bonus shares for 2022 due to accumulated losses and current operational conditions[5]. - The audited net assets attributable to shareholders were negative, indicating ongoing concerns about the company's ability to continue as a going concern[8]. - The company has faced continuous net losses for three consecutive accounting years, raising significant investment risks[8]. - Adjusted revenue for 2022 was approximately $7.76 billion, a decrease of 36.59% compared to the previous year[22]. - Net loss attributable to shareholders was approximately -$1.15 billion, showing a slight increase in loss of 0.30% from the prior year[22]. - Basic earnings per share for 2022 was -$1.10, unchanged from 2021, while diluted earnings per share also remained at -$1.10[23]. - Total revenue for 2022 was ¥7,757,232,800.30, a decrease of 36.59% compared to ¥12,234,346,202.67 in 2021, primarily due to reduced steel sales volume and prices[24]. - The company reported a net loss of approximately ¥1.63 billion, an improvement of 39.01% from -¥2.67 billion in the previous year[48]. - The company reported a total loss of CNY 16 million in profit, a 38.95% improvement from a loss of CNY 26.21 million in 2021[33]. Operational Efficiency - Cash flow from operating activities decreased by 72.68% to approximately $390.35 million compared to the previous year[22]. - The company's net assets attributable to shareholders were approximately -$857.28 million, a significant decrease of 391.56% from the previous year[22]. - The company implemented a "Four Fast" strategy, focusing on rapid procurement, production, sales, and payment collection to improve operational efficiency[34]. - The effective operation rate of main equipment reached 99.77%, with a year-on-year reduction in equipment failure downtime[36]. - The company focused on optimizing production organization and reducing costs, leading to a decrease in energy costs and logistics expenses[34]. Industry Challenges - The steel industry faced significant challenges in 2022, with crude steel production declining by 1.7% to 1.018 billion tons and apparent consumption down by 3.4% to 0.96 billion tons[38]. - The steel industry saw a 72.27% decline in total profits for member enterprises, with total profits amounting to CNY 9.82 billion in 2022[38]. - The company has faced challenges due to high raw material costs and a decrease in steel sales volume and prices, impacting overall profitability[49]. - The steel industry is experiencing intense competition, with a notable decline in profits due to policies like "dual control" and "dual carbon," leading to increased industry consolidation[80]. Financial Position - The company's total assets decreased by 9.51% to approximately $16.79 billion at the end of 2022 compared to the end of 2021[22]. - Long-term borrowings decreased by 56.13% to ¥804,250,000.00, primarily due to reclassification to current liabilities[24]. - The company's total liabilities increased by 43.60% to approximately ¥1.14 billion, mainly due to an increase in advance payments for steel[66]. - The company's total assets were reported at ¥16,785,474,237.84, down from ¥18,548,641,133.48, representing a decline of 9.5%[194]. - The total equity attributable to shareholders fell to ¥-857,278,876.46, compared to ¥294,032,527.29 in the previous year, indicating a negative shift in equity position[194]. Environmental Management - The company invested approximately 118.35 million yuan in environmental protection during the reporting period[124]. - The total emission control limits for pollutants were set at 4,592 tons for particulate matter, 2,517 tons for sulfur dioxide, and 4,691 tons for nitrogen oxides[125]. - The company has established a mechanism for environmental protection and has complied with national pollution discharge standards[125]. - The company has constructed over 50 pollution treatment facilities, including a wastewater treatment center with a daily capacity of 20,000 tons, achieving 100% recycling of treated wastewater[128]. - The company has received ISO14001 environmental management system certification for 16 consecutive years, ensuring adherence to national emission standards[128]. Governance and Compliance - The company has strengthened its internal control systems in compliance with regulatory requirements, enhancing governance and decision-making capabilities[85]. - A total of 64 temporary announcements were disclosed during the reporting period, ensuring transparency and compliance with information disclosure regulations[85]. - The company has not faced any penalties from the China Securities Regulatory Commission in the past three years[100]. - The company’s internal control evaluation report was deemed to be true, complete, and effective[105]. - The company has not disclosed any significant internal control deficiencies during the reporting period[120]. Future Strategies - The company plans to expand its market presence and invest in new technologies to enhance competitiveness in the steel industry[69]. - Future strategies include potential market expansion and new product development to enhance revenue streams[200]. - The company aims to improve cash flow and financial structure by introducing strategic investors and enhancing cooperation with suppliers[149]. - The company is committed to structural adjustments and green development, aligning with national policies for manufacturing and industrial transformation[78].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,318,356,543.60, a decrease of 56.38% compared to CNY 3,020,552,968.44 in the same period last year[3]. - The net profit attributable to shareholders was a loss of CNY 246,645,309.49, representing a 24.56% increase in loss compared to a loss of CNY 198,282,309.07 in the previous year[3]. - The company's basic earnings per share for Q1 2023 was -CNY 0.24, compared to -CNY 0.19 in the same period last year, reflecting a 26.32% increase in loss per share[3]. - Net loss for Q1 2023 amounted to CNY 374,765,620.98, compared to a net loss of CNY 284,834,839.71 in Q1 2022, representing a 31.5% increase in losses[18]. - Total operating revenue for Q1 2023 was CNY 1,318,356,543.60, a decrease of 56.4% compared to CNY 3,022,100,609.84 in Q1 2022[17]. Cash Flow - The net cash flow from operating activities was CNY 53,667,593.41, down 22.54% from CNY 70,981,471.51 in the same period last year[3]. - In Q1 2023, the cash inflow from operating activities was approximately $607.34 million, a decrease of 54.4% compared to $1.33 billion in Q1 2022[21]. - The net cash outflow from operating activities was $53.67 million, down 22.5% from $69.28 million in the same period last year[22]. - Cash outflow for purchasing goods and services was $411.46 million, a reduction of 59.3% from $1.01 billion in Q1 2022[22]. - The ending balance of cash and cash equivalents was $80.77 million, a decrease from $195.29 million in Q1 2022[23]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 16,662,740,476.99, a decrease of 0.73% from CNY 16,785,474,237.84 at the end of the previous year[4]. - Total liabilities increased to CNY 16,470,513,548.20 in Q1 2023, up from CNY 16,222,891,579.11 in Q4 2022[15]. - The company's total equity decreased to CNY 192,226,928.79 in Q1 2023, down from CNY 562,582,658.73 in the previous quarter[15]. - The equity attributable to shareholders was negative CNY 1,099,514,294.91, a decline of 28.26% compared to negative CNY 857,278,876.46 at the end of the previous year[4]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 49,617[8]. - The largest shareholder, Xining Special Steel Group Co., Ltd., holds 369,669,184 shares, accounting for 35.37% of total shares[9]. Research and Development - Research and development expenses decreased by 37.60%, attributed to reduced investment in R&D projects compared to the previous year[6]. - Research and development expenses for Q1 2023 were CNY 98,535,617.32, a decrease of 37.6% compared to CNY 157,907,180.32 in Q1 2022[18]. Other Financial Metrics - The company reported a significant increase of 688.53% in other income, primarily from confirmed property tax reductions[6]. - The company reported a total of CNY 1,190,926,573.44 in other payables, which increased from CNY 932,622,165.36 in the previous quarter[15]. - The company’s deferred income tax assets stood at CNY 100,703,637.46, slightly down from CNY 100,996,297.90 in the previous quarter[15]. - The company has a long-term equity investment valued at ¥47,035,636.94, down from ¥70,529,713.32[13]. - The company has pledged 199,960,000 shares, indicating potential liquidity concerns[8]. - The company is subject to uncertainties regarding asset disposal and ecological restoration due to mining rights cancellation[10].

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,634,361,686.55, a decrease of 50.26% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥300,363,678.41, representing a decline of 148.12% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥295,903,876.03, down 230.92% from the previous year[4]. - The net profit for the reporting period was down 770.15 million RMB, influenced by the economic downturn in the steel industry and increased R&D expenses[12]. - The company reported a net loss of CNY -1,062,589,763.68 for the first three quarters of 2022, compared to a loss of CNY -73,549,222.89 in the same period of 2021[29]. - The net profit attributable to the parent company was -715,603,602.31 CNY, compared to -217,718,167.97 CNY in the previous year, reflecting a significant decline[34]. - Total comprehensive income amounted to -1,066,084,774.29 CNY, compared to -122,517,764.37 CNY in the previous year[34]. Assets and Liabilities - The total assets at the end of the reporting period were ¥17,421,827,130.21, a decrease of 5.95% from the end of the previous year[7]. - The total assets decreased from CNY 18,524,963,007.83 in the previous year to CNY 17,421,827,130.21, reflecting a reduction of approximately 6%[24]. - Current liabilities totaled CNY 11,512,749,486.84, down from CNY 13,781,558,359.87, showing a decrease of about 16.5%[24]. - Non-current liabilities increased from CNY 2,556,584,543.41 to CNY 4,789,793,928.11, representing an increase of approximately 87.2%[24]. - The company's total equity decreased from CNY 2,186,820,104.55 to CNY 1,119,283,715.26, a decline of about 48.9%[24]. - The equity attributable to shareholders was -¥422,387,002.52, a significant decline of 250.31% compared to the previous year[7]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥371,046,452.29, down 49.40% year-on-year[4]. - Cash flow from operating activities showed a net outflow of 49.40 million RMB, mainly due to decreased sales volume and prices[12]. - Cash inflow from financing activities was 6,376,533,753.62 CNY, compared to 8,024,476,372.47 CNY in the previous year[38]. - The cash outflow from financing activities totaled 6,720,138,626.57 CNY, down from 8,771,325,959.58 CNY in the previous year[38]. - The net cash outflow from investing activities was -53,230,191.57 CNY, compared to -49,944,456.23 CNY in the previous year[38]. - The company experienced a decrease in cash flow from operating activities, indicating potential challenges in revenue generation[38]. Research and Development - Research and development expenses increased by 38.65%, primarily due to investments aimed at improving product quality and optimizing production processes[10]. - The company reported a significant increase in R&D expenses to improve product quality and optimize production processes[12]. - Research and development expenses for the first three quarters of 2022 were CNY 358,534,114.46, compared to CNY 258,590,439.84 in 2021, indicating an increase of approximately 38.7%[29]. - The company plans to continue focusing on product quality improvement and technological advancements in response to market challenges[10]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,183[13]. - The largest shareholder, Xining Special Steel Group Co., Ltd., holds 35.37% of the shares, with 369,669,184 shares pledged[13]. Inventory and Current Assets - Total current assets decreased to 6.81 billion RMB from 7.55 billion RMB year-on-year[19]. - Inventory as of September 30, 2022, was 2.07 billion RMB, down from 2.27 billion RMB in the previous year[19].

Financial Performance - The company's operating revenue for the first half of the year was ¥5,546,972,059.43, a decrease of 5.22% compared to the same period last year [24]. - The net profit attributable to shareholders was -¥415,239,923.90, representing a decline of 329.59% year-on-year [27]. - The net cash flow from operating activities was ¥213,711,366.79, down 60.12% from the previous year [27]. - The company reported a loss of ¥603,205,187.27 in operating profit, a decrease of 822.93% year-on-year, primarily due to reduced product demand and high raw material prices [24]. - The total profit for the period was -¥623,871,722.92, reflecting a decline of 1,035.15% compared to the previous year [27]. - The company's total revenue for the first half of 2022 was approximately ¥5.55 billion, a decrease of 5.22% compared to ¥5.85 billion in the same period of 2021 [33]. - The total profit for the first half of 2022 was a loss of approximately ¥62.39 million, a significant decline from a profit of ¥6.67 million in the same period of 2021, representing a decrease of 1,035.15% [33]. - The net profit attributable to the parent company for the first half of 2022 was a loss of approximately ¥41.52 million, compared to a loss of ¥9.67 million in the same period of 2021, marking a 329.59% increase in losses [33]. - The company reported a net loss of ¥627,861,585.88 for the current period, compared to a net profit of ¥21,180,442.87 in the same period last year, indicating a significant decline in performance [126]. - The company's operating profit was reported at -¥603,205,187.27, a stark contrast to the operating profit of ¥83,438,890.49 from the previous year [126]. Research and Development - Research and development expenses increased by 89.99% to ¥269,150,679.42, aimed at improving product quality and optimizing production processes [24]. - Research and development expenses increased by 89.99% year-on-year, mainly to improve product quality and optimize production processes [41]. - Research and development expenses rose significantly to CNY 269,150,679.42, an increase of 90.1% compared to CNY 141,663,656.63 in the previous year [120]. - Research and development expenses increased to ¥148,296,878.54, up 93.4% from ¥76,666,408.09 in the same period last year, reflecting a focus on innovation [128]. Environmental Compliance - The company maintained a 100% compliance rate for pollutant emissions, reflecting its commitment to environmental standards and safety [36]. - The company reported compliance with national pollution discharge standards, with actual emissions of 1,146.98 tons of particulate matter and 235.34 tons of sulfur dioxide during the reporting period [55]. - The company has successfully maintained compliance across all monitored discharge points, with all emissions meeting the required standards [56]. - The company has constructed over 50 pollution control facilities and a wastewater treatment center with a daily capacity of 20,000 tons, achieving 100% recycling of treated wastewater [62]. - The company has maintained compliance with national emission standards for waste gas and noise, receiving ISO14001 environmental management system certification for 16 consecutive years [62]. - The company has implemented a systematic approach to environmental management, focusing on continuous improvement and compliance with updated national standards [62]. - The company has established a comprehensive self-monitoring plan for environmental management, including continuous and manual monitoring of various pollutants [67]. Financial Position - The total assets at the end of the reporting period were ¥18,120,276,629.48, a decrease of 2.18% from the end of the previous year [24]. - The company's total equity attributable to shareholders was reported at CNY -723,281,970.89, down from CNY -346,141,672.97 [120]. - The total liabilities amounted to RMB 16,566,409,156.74, an increase of 1.39% from RMB 16,338,142,903.28 [111]. - The company's total assets decreased to RMB 18,120,276,629.48, down 2.18% from RMB 18,524,963,007.83 [111]. - The company reported a total current assets of RMB 7,397,126,185.72, a decrease of 2.02% from RMB 7,549,339,677.90 in the previous period [108]. - The company reported a total equity of RMB 1,553,867,472.74, reflecting a decrease from the previous period [111]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring the integrity of the report [6]. - The company has not reported any violations of decision-making procedures regarding external guarantees [10]. - The company appointed new directors and senior management, including Wang Qinghai as General Manager and several new independent directors [51]. - The financial statements were approved by the board of directors on August 30, 2022 [169]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts [172]. Shareholder Information - The company reported a profit distribution plan for the reporting period, stating that there will be no profit distribution or capital reserve transfer to share capital [8]. - No profit distribution or capital reserve transfer plan was proposed, with no dividends or stock bonuses declared for shareholders [51]. - The company has a total of 50,491 common shareholders as of the end of the reporting period [97]. - The largest shareholder, Xining Special Steel Group Co., Ltd., holds 35.37% of the shares, amounting to 369,669,184 shares [97]. Related Party Transactions - The company has engaged in related party transactions amounting to 215 million RMB for loans from the Qinghai Supply-side Reform Industry Fund [86]. - The company has provided guarantees totaling 80 million RMB to Qinghai Provincial State-owned Assets Investment Management Co., Ltd., with a guarantee period from July 13, 2021, to July 13, 2024 [91]. - The total amount of guarantees provided by the company, including those to subsidiaries, is 296.67 million RMB, which accounts for 105.57% of the company's net assets [91]. - The company has accepted services from related parties amounting to 1.7 million RMB during the reporting period [86]. Risk Factors - The company has outlined potential risks in its future development strategies, urging investors to be aware of investment risks [9]. - The company continues to face economic, industry, financial, and environmental risks, with no significant changes in its main business or operating environment during the reporting period [46]. - The company reported a negative net asset value as of the end of the reporting period, indicating potential investment risks [46].

Financial Performance - The company reported a net profit attributable to shareholders of -1,148,607,270.05 yuan for the year 2021, with total distributable profits amounting to -3,186,802,306.02 yuan[6]. - The company's net profit for the parent company was -738,865,025.39 yuan in 2021[6]. - The net profit attributable to shareholders was -¥1,148,607,270.05, a significant decrease of 2,042.28% from a profit of ¥59,137,078.87 in 2020[24]. - The total profit for the year was -¥2,622,562,606.84, a decrease of 1,274.85% from a profit of ¥223,225,465.61 in 2020[28]. - The net profit attributable to the parent company was -¥1,148,607,270.05, down 2,042.28% from ¥59,137,078.86 in 2020[28]. - The company reported an operating loss of -¥2,584,282,461.47, a decline of 1,235.41% compared to an operating profit of ¥227,607,131.68 in 2020[28]. - The company's total assets decreased by 9.58% to ¥18,524,963,007.83 from ¥20,487,202,136.99 in 2020[24]. - The company's cash and cash equivalents decreased by 34.12% to ¥1,110,634,613.76 from ¥1,685,843,751.50 at the beginning of the year[28]. - The company has no plans for future cash dividends or stock bonuses due to its current financial situation[6]. Revenue and Costs - The company's operating revenue for 2021 was ¥12,229,101,621.92, representing a 21.37% increase compared to ¥10,075,510,385.66 in 2020[24]. - Operating costs increased by 27.54% to ¥11,202,823,429.64 from ¥8,783,983,109.39 year-on-year[50]. - The gross profit margin for the steel industry segment decreased by 3.36 percentage points to 7.41% despite a revenue increase of 22.69%[51]. - The total cost for the steel industry was ¥11,621,352,105.41, representing a 32.08% increase from the previous year's ¥8,798,903,050.41[59]. - The company reported a significant increase in financial expenses by 57.09% to ¥652,777,629.77, primarily due to last year's receipt of government interest subsidies[50]. Research and Development - Research and development expenses rose by 47.42% to ¥450,952,026.56, up from ¥305,888,119.23 in 2020, indicating increased investment in product quality and production optimization[28]. - In 2021, the company launched 26 technology innovation projects, resulting in 1 third prize in Qinghai Province for scientific and technological progress, 1 silver patent award, 10 provincial-level scientific achievements, 20 patent applications, and 7 authorized patents[41]. - The company has established a complete R&D platform for special steel new materials in collaboration with institutions like Beihang University and the Chinese Academy of Sciences, enhancing its technological advantages[47]. Market Position and Strategy - The company aims to enhance cost management and efficiency, focusing on maximizing production benefits through a low-cost strategy[37]. - The company adjusted its product structure to improve market competitiveness, leading to a significant increase in the share of high-efficiency products[40]. - The company plans to continue expanding its market presence and product offerings to capture new opportunities and enhance profitability[40]. - The company is positioned to benefit from the "Belt and Road" initiative, with a stable supply of raw materials from resource-rich regions like Qinghai, Xinjiang, and Tibet[47]. - The company anticipates a gradual decline in long-term steel demand due to carbon neutrality goals, while still facing challenges such as high raw material costs and international competition[44]. Environmental Management - The company complies with national pollution discharge standards for various pollutants, including particulate matter, sulfur dioxide, and nitrogen oxides[152]. - The company has achieved a 100% compliance rate for pollutant discharge and has passed national certification for 15 consecutive years, receiving ISO14001 certification[161]. - The company has implemented a comprehensive environmental management system, including 23 management regulations to ensure compliance with environmental standards[164]. - The company has constructed over 50 pollution control facilities, including a wastewater treatment center with a daily capacity of 20,000 tons, achieving 100% recycling of treated wastewater[161]. - The company has developed emergency response plans for environmental incidents, ensuring rapid control and management of potential pollution events[166]. Governance and Compliance - The company has a clear governance structure with defined roles for its board members and management team[115]. - The company has implemented a comprehensive internal control system to enhance governance and decision-making processes[94]. - The company reported no significant differences in governance compared to legal and regulatory requirements[97]. - The company has not faced any penalties from the China Securities Regulatory Commission or public reprimands from the stock exchange in the past three years[121]. - The company’s independent directors attended all board meetings, ensuring full participation in governance[125]. Employee Management - The total number of employees in the parent company and major subsidiaries is 3,643, with 2,682 in the parent company and 961 in major subsidiaries[134]. - The company completed 51 company-level training programs with 3,849 participants and 6,313 internal training programs with 79,692 participants during the reporting period[139]. - The company achieved a year-on-year increase of 4.94% in average employee income, reaching CNY 80,800[182]. - The company maintained a 100% coverage rate for labor contracts, collective agreements, and social insurance participation[182]. - The company has established a comprehensive occupational health and safety management system, ensuring compliance with national regulations and conducting regular health checks for employees[185].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 3,020,552,968.44, representing a year-on-year increase of 20.62%[6] - The net profit attributable to shareholders of the listed company was a loss of CNY 198,282,309.07, a decrease of 190.62% compared to the same period last year[6] - The net cash flow from operating activities was CNY 70,981,471.51, reflecting an increase of 47.43% year-on-year[6] - Total operating revenue for Q1 2022 was CNY 3,020,552,968.44, an increase of 20.6% compared to CNY 2,504,284,987.33 in Q1 2021[32] - Net loss attributable to shareholders of the parent company for Q1 2022 was CNY -198,282,309.07, compared to a loss of CNY -68,227,599.92 in Q1 2021[34] - The company’s comprehensive loss for Q1 2022 was CNY -285,103,408.87, compared to a profit of CNY 112,434.33 in Q1 2021[34] Assets and Liabilities - The total assets at the end of the reporting period were CNY 16,671,157,118.11, down 10.01% from the end of the previous year[9] - The total current assets as of March 31, 2022, amount to 5,815,155,630.30 RMB, a decrease from 7,549,339,677.90 RMB at the end of 2021[23] - Total liabilities amount to 12,047,574,482.56 RMB, compared to 13,781,558,359.87 RMB at the end of 2021[26] - The total liabilities amounted to CNY 14,765,717,665.39, a decrease from CNY 16,338,142,903.28 in the previous period[32] - The total non-current liabilities were CNY 2,718,143,182.83, an increase from CNY 2,556,584,543.41 in the previous period[32] Shareholder Information - The equity attributable to shareholders of the listed company decreased by 69.24% to CNY 86,451,395.36 compared to the end of the previous year[9] - The total number of common shareholders at the end of the reporting period is 51,240[16] - Xining Special Steel Group Co., Ltd. holds 369,669,184 shares, accounting for 35.37% of total shares[16] - Qinghai Provincial Material Group Co., Ltd. and Qinghai Electromechanical State-owned Holding Co., Ltd. each hold 100,000,000 shares, representing 9.57% of total shares[16] Cash Flow and Financing Activities - Cash flow from operating activities for Q1 2022 was CNY 1,317,140,400.12, slightly up from CNY 1,311,759,167.28 in Q1 2021[34] - Operating cash inflow totaled CNY 1,331,359,769.01, compared to CNY 1,319,335,393.59 in the previous period, reflecting a slight increase[38] - Cash outflow from operating activities was CNY 1,260,378,297.50, down from CNY 1,271,189,340.13, resulting in a net cash flow from operating activities of CNY 70,981,471.51, up from CNY 48,146,053.46[38] - Cash inflow from financing activities amounted to CNY 2,863,850,000.00, compared to CNY 3,207,380,610.33 in the previous period[40] - Net cash flow from financing activities was CNY 21,053,092.34, a recovery from a negative CNY 46,324,466.54 in the previous period[40] Research and Development - Research and development expenses increased by 373.92%, primarily due to increased investment in product quality and production process optimization[12] - Research and development expenses for Q1 2022 were CNY 157,907,180.32, significantly higher than CNY 33,319,628.90 in Q1 2021, indicating a focus on innovation[32] Inventory and Costs - The gross profit margin declined due to the increase in raw material prices outpacing the rise in coke and steel prices[15] - Total operating costs for Q1 2022 were CNY 3,300,426,955.14, up from CNY 2,489,277,360.15 in Q1 2021, representing a 32.5% increase[32] - Inventory stands at 2,204,298,787.54 RMB, down from 2,271,788,159.15 RMB at the end of 2021[23] Government Subsidies - The company received government subsidies amounting to CNY 2,867,463.96, which are closely related to its normal business operations[9]