2020 年第三季度报告 | --- | --- | --- | --- | |------------|--------|-------|--------------------| | | | | | | | | | | | 公司代码： | 600231 | | 公司简称：凌钢股份 | | 转债代码： | 110070 | | 转债简称：凌钢转债 | | 转股代码： | 190070 | | 转股简称：凌钢转股 | 凌源钢铁股份有限公司 600231 2020 年第三季度报告 1 / 27 2020 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 27 2020 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人文广、主管会计工作负责人李占东及会计机构负责人（会计主管人员）张磊保证 季度报告中财务报表的真实、准确、完整。 1.4 本 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2020, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 150 million, up 20% compared to the same period last year[18]. - The company's operating revenue for the first half of the year was CNY 9,247,858,332.46, a decrease of 13.04% compared to the same period last year[23]. - The net profit attributable to shareholders was CNY 151,974,486.06, down 60.02% year-on-year[23]. - The company achieved a total revenue of 9.248 billion yuan, a decrease of 13.04% year-on-year[39]. - The net profit for the period was 152 million yuan, a decrease of 60.02% year-on-year[39]. - The basic earnings per share decreased to CNY 0.05, a decline of 60.02% compared to the same period last year[23]. - The company's operating profit decreased to CNY 212,269,201.35 from CNY 527,781,562.52, reflecting a decline of about 60%[156]. - The total comprehensive income for the first half of 2020 was CNY 151,974,486.06, compared to CNY 380,101,271.33 in the previous year, indicating a significant decline[156]. Production and Operations - The company produced 1.5 million tons of crude steel, an increase of 10% year-on-year[18]. - The company produced 2.6582 million tons of iron, a decrease of 1.59% year-on-year[39]. - The company produced 2.8174 million tons of steel, a decrease of 3.49% year-on-year[39]. - The company achieved a steel production of 2.82 million tons in the first half of the year, completing 49.43% of its annual target of 5.7 million tons[46]. - The company continues to focus on the steel industry, producing a range of metallurgical products, with no significant changes in its main business operations during the reporting period[29]. Assets and Liabilities - The total assets of the company reached RMB 5 billion, with a debt-to-asset ratio of 60%[18]. - The company's total assets at the end of the reporting period were CNY 16,207,307,276.65, reflecting a 1.96% increase from the end of the previous year[23]. - The total assets amounted to CNY 16,706,248,312.50, a decrease from CNY 17,159,846,017.40 at the end of 2019, indicating a decline of 2.6%[150]. - The total liabilities reached CNY 8,703,593,503.12, down from CNY 9,272,674,981.22, representing a decrease of 6.2%[150]. - The company's total liabilities decreased to approximately ¥7.43 billion from ¥7.80 billion, reflecting a reduction of about 4%[142]. Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at reducing production costs by 10%[18]. - The company has obtained 13 provincial and ministerial-level scientific achievements and 12 national utility model patents[37]. - Research and development expenses were CNY 2,966,312.48, significantly lower than CNY 5,077,428.61 in the previous year, indicating a reduction of approximately 42%[158]. Environmental Impact - The company’s environmental investment ratio has consistently ranked among the top in the industry[37]. - The company’s steel dust emissions were 0.40 kg per ton, and sulfur dioxide emissions were 0.38 kg per ton in the first half of 2020[37]. - The company reported total emissions of particulate matter at 10,606.763 tons, sulfur dioxide at 6,182.030 tons, and nitrogen oxides at 10,937.120 tons for the reporting period[112]. - All pollution discharge points, totaling 91, met the corresponding emission standards, ensuring compliance with environmental regulations[115]. - The company has implemented a zero discharge policy for wastewater, with all wastewater being treated and reused[115]. Financing and Investments - The company issued CNY 440 million in convertible bonds and received approval for a CNY 500 million short-term financing bond, enhancing its financing channels[41]. - The company reported a significant reduction in financial expenses by 89.95%, amounting to approximately CNY 5.81 million[43]. - The company has invested CNY 3 million in equity investment for the construction of a 3 million tons coke project[51]. - The company reported an investment loss of CNY -9,090,658.34, compared to a gain of CNY 225,664.87 in the previous period[156]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in exports by the end of 2021[18]. - New product lines, including high-strength steel, are expected to contribute an additional RMB 200 million in revenue in the next fiscal year[18]. - The company is focusing on increasing production and reducing costs as part of its operational strategy[57]. Corporate Governance and Compliance - The company has no non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company confirmed that there were no major litigation or arbitration matters during the reporting period[79]. - The company has provided guarantees to its controlling shareholder, Ling Steel Group, as per the mutual guarantee agreement approved in December 2019[84]. Social Responsibility - Company actively engaged in poverty alleviation efforts, investing CNY 37,200 in support of 124 registered poor households[96]. - Company contributed over CNY 60,000 in donations to support poverty alleviation projects in local villages[96]. - The company has donated a poverty alleviation fund of 400,000 RMB to the government of Beipiao City[98].

Financial Performance - Net profit attributable to shareholders was CNY 4,459,191.16, down 93.50% year-on-year[10] - Operating revenue for the period was CNY 4,286,988,645.12, a decrease of 16.84% compared to the same period last year[10] - Basic earnings per share were CNY 0.002, a decrease of 93.50% compared to the previous year[10] - Total profit dropped by 90.68% to ¥9.4 million from ¥101.1 million year-on-year[3] - Net profit decreased by 93.5% to ¥4.5 million from ¥68.6 million in the same period last year[3] - Operating profit fell by 88.51% to ¥12.8 million compared to ¥111.0 million in the previous year[3] - The total comprehensive income for Q1 2020 was ¥4,459,191.16, significantly lower than ¥68,617,490.28 in Q1 2019[48] Assets and Liabilities - Total assets at the end of the reporting period were CNY 15,812,718,338.96, a decrease of 0.52% compared to the end of the previous year[10] - The company's total assets decreased to CNY 16,686,700,372.19 from CNY 17,159,846,017.40[38] - Total liabilities decreased to approximately ¥8.05 billion from ¥8.15 billion, indicating a reduction in financial obligations[33] - Total liabilities amounted to approximately ¥8.15 billion, with current liabilities at ¥7.80 billion and non-current liabilities at ¥349.48 million[61] - The company’s total equity attributable to shareholders increased slightly to approximately ¥7.76 billion from ¥7.75 billion, indicating stable shareholder value[33] Cash Flow - Net cash flow from operating activities reached CNY 466,745,266.86, an increase of 806.38% year-on-year[10] - Cash flow from operating activities increased significantly by 806.38% to ¥466.7 million from ¥51.5 million in the previous year[3] - The cash inflow from operating activities totaled ¥5,065,263,246.45 in Q1 2020, compared to ¥4,569,971,955.67 in Q1 2019[52] - The cash outflow from operating activities was ¥4,598,517,979.59 in Q1 2020, slightly higher than ¥4,518,476,179.16 in Q1 2019[52] - The company reported a net cash outflow from investing activities of ¥86,009,016.84 in Q1 2020, compared to a net inflow of ¥1,094,124.09 in Q1 2019[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 60,948[12] - The largest shareholder, Lingyuan Iron and Steel Group Co., Ltd., held 957,960,606 shares, accounting for 34.57% of total shares[12] Expenses - The company reported a significant decrease in tax expenses by 84.71% to ¥5.0 million from ¥32.5 million year-on-year[3] - The company reported a decrease in research and development expenses to CNY 1,499,900.86 from CNY 3,481,767.57[43] - The company's financial expenses decreased to ¥6,593,840.99 in Q1 2020 from ¥24,981,254.60 in Q1 2019[48] Inventory and Receivables - Accounts receivable increased by 117.61% to ¥193.1 million compared to ¥88.7 million in the previous year[3] - Inventory remained stable at approximately ¥1.57 billion, showing effective inventory management[31] - The company’s inventory was valued at approximately ¥1.27 billion, which is critical for operational efficiency[65] Government Support - Government subsidies recognized in the current period amounted to CNY 6,288,870.17[10] Financing and Borrowings - Long-term borrowings increased by 53.18% to ¥99.0 million from ¥64.7 million year-on-year[3] - Short-term borrowings decreased to approximately ¥1.63 billion from ¥1.73 billion, reflecting a decrease in reliance on debt financing[33] - The company reported a long-term loan of ¥64.65 million and long-term payables of approximately ¥194.18 million[67] Other Financial Metrics - The weighted average return on net assets was 0.06%, down 0.86 percentage points from the previous year[10] - The company has a deferred income tax liability of approximately ¥46.13 million, which may impact future tax obligations[61] - The company has a contract liability of approximately ¥685.38 million, indicating future revenue obligations[61]

Financial Performance - The company's operating revenue for 2019 was CNY 21,117,196,547.34, representing a year-on-year increase of 1.64% compared to CNY 20,776,506,349.20 in 2018[28]. - The net profit attributable to shareholders of the listed company in 2019 was CNY 427,699,016.89, a decrease of 64.28% from CNY 1,197,362,869.00 in 2018[28]. - The net cash flow from operating activities for 2019 was CNY 1,156,457,004.42, down 33.20% from CNY 1,731,121,060.49 in 2018[28]. - The basic earnings per share for 2019 was CNY 0.15, a decline of 64.28% compared to CNY 0.43 in 2018[32]. - The total assets at the end of 2019 were CNY 15,895,858,429.73, a slight decrease of 0.62% from CNY 15,994,547,574.74 at the end of 2018[31]. - The net assets attributable to shareholders of the listed company increased by 4.08% to CNY 7,749,388,229.32 at the end of 2019 from CNY 7,445,760,159.78 at the end of 2018[31]. - The company reported a total of CNY 60,188,332.76 in non-recurring losses for 2019, primarily due to asset disposal losses and other operating expenses[37]. - The weighted average return on net assets for 2019 was 5.64%, down 11.67 percentage points from 17.31% in 2018[32]. - The company’s quarterly operating revenue for Q4 2019 was CNY 5,004,444,019.99, showing a decline compared to previous quarters[34]. - The company’s cash flow from operating activities in Q4 2019 was negative at CNY -158,556,252.82, indicating challenges in cash generation during that period[34]. Dividend Distribution - The company plans to distribute a cash dividend of 0.49 RMB per 10 shares to all shareholders, based on the total share capital on the dividend registration date[7]. - In 2019, the company distributed a cash dividend of RMB 0.49 per 10 shares, amounting to RMB 135,783,054.41, which is 31.75% of the net profit attributable to shareholders[121]. - The company has a cash dividend policy that mandates a minimum distribution of 10% of the available profit in years of profitability, barring special circumstances[118]. - The company reported a net profit attributable to shareholders of RMB 1,197,362,869 for the year 2018, with a cash dividend distribution of RMB 0.44 per 10 shares, representing 10.18% of the net profit[121]. Risk Management - The company has detailed potential risks in its report, including future development discussions and analysis[9]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[8]. - The company has not violated decision-making procedures for external guarantees[9]. - There are no non-operating fund occupation situations by controlling shareholders and their related parties[9]. - The company faces financial risks due to a high asset-liability ratio, which has led to difficulties in securing loans from financial institutions[116]. - The company is actively monitoring policy changes regarding steel production capacity and environmental regulations, which could impact future operations[116]. - The company plans to optimize its capital structure and reduce inventory to improve capital efficiency and lower financing costs[116]. Corporate Governance - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[4]. - All directors attended the board meeting for the annual report review[5]. - The company has not disclosed any significant matters that are applicable[10]. - The company has retained Rongcheng Accounting Firm for the 2019 financial audit, with an audit fee of 140,000 RMB[130]. - There are no significant lawsuits or arbitration matters reported for the year[132]. - The company has not disclosed any employee stock ownership plans or incentive measures during the reporting period[132]. Environmental Sustainability - The company achieved a dust emission rate of 0.42 kg per ton of steel and a sulfur dioxide emission rate of 0.36 kg per ton of steel in 2019, reflecting its focus on environmental sustainability[50]. - The company has invested significantly in energy-saving and environmental protection initiatives, with its environmental investment ratio consistently ranking among the industry leaders[47]. - The company aims to enhance energy efficiency as a key competitive strategy, aligning with its goal of becoming a resource-saving and environmentally friendly enterprise[47]. - The company has implemented a zero wastewater discharge policy, effectively utilizing all wastewater generated[164]. - The company has achieved zero emissions in wastewater discharge and implemented TRT power generation in all blast furnaces[160]. - The company’s pollutant emissions for the reporting period included 628.605 tons of smoke, 5,602.577 tons of dust, 2,148.123 tons of sulfur dioxide, and 4,438.158 tons of nitrogen oxides, all meeting discharge permit requirements[161]. - The company has been recognized as a "green factory" by the Ministry of Industry and Information Technology in 2018[160]. Social Responsibility - The company donated 10 million yuan to support education initiatives, enhancing its social responsibility profile[55]. - The company has invested 10.2876 million CNY in targeted poverty alleviation efforts, assisting 362 registered impoverished individuals[160]. - The company provided CNY 1.24 million to support 19 impoverished students, ensuring no student dropped out due to poverty[152]. - The company has established a three-year poverty alleviation plan (2018-2020) to enhance its efforts in poverty alleviation[146]. - The company has engaged in various forms of support, including financial aid and material donations, to assist impoverished communities[149]. Market Position and Strategy - The company operates in the steel industry, focusing on the production and development of metallurgical products, with major products including hot-rolled medium-width strip steel, rebar, round steel, wire rod, and welded steel pipes[39]. - The company has developed 13 personalized products based on customer needs, including various grades of steel for specific applications, strengthening its market competitiveness[47]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[190]. - The company plans to enhance its digital transformation efforts, aiming for a 20% increase in online sales channels[190]. - The company aims to expand its market presence in Southeast Asia, targeting a 5% market share within the next two years[195]. Production and Operations - The company produced 590.4 million tons of steel, a year-on-year increase of 6.77%, and 540.7 million tons of iron, up 3.90%[55]. - The company produced 5.9044 million tons of steel, 5.4073 million tons of iron, and 5.9631 million tons of steel products[161]. - The company has a pig iron production capacity of 5.057 million tons and a crude steel production capacity of 5.7 million tons, with a total steel production capacity of 7.01 million tons[79]. - The company operates five blast furnaces and six converters, with a total of 701,000 tons of steel production capacity, including 140,000 tons of strip steel and 60,000 tons of wire rod[79]. - The company achieved a sales-to-production ratio of 101% for the year, indicating effective inventory management[55]. Financial Management - Financial expenses significantly decreased by 67.79%, reaching 48.68 million yuan, due to reduced interest on company bonds[56]. - The total amount of related party transactions in 2019 reached approximately ¥7.09 billion, indicating a substantial volume of business with the controlling shareholder[136]. - The company has committed to not engaging in any business activities that directly compete with Lingyuan Steel during the reporting period, ensuring compliance with competitive regulations[124]. - The company has established independent branding and operational systems, including trademarks and financial independence, despite the historical ties with Lingang Group[135].

2019 年第三季度报告 公司代码：600231 公司简称：凌钢股份 凌源钢铁股份有限公司 600231 2019 年第三季度报告 1 / 27 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 27 2019 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人文广、主管会计工作负责人李占东及会计机构负责人（会计主管人员）李占东保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|-------------------|----------------------|---------------------- ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥10,634,366,801.19, representing a 5.45% increase compared to ¥10,084,782,795.87 in the same period last year [19]. - The net profit attributable to shareholders for the first half of 2019 was ¥380,101,271.33, a decrease of 49.24% from ¥748,809,106.23 in the previous year [19]. - The basic earnings per share for the first half of 2019 was ¥0.14, down 49.24% from ¥0.27 in the same period last year [22]. - The weighted average return on equity decreased by 6.03 percentage points to 5.05% compared to 11.08% in the previous year [22]. - The total comprehensive income attributable to the parent company's owners for the first half of 2019 was CNY 380,101,271.33, compared to CNY 747,785,356.23 in the previous year, indicating a decrease of about 49.1% [169]. - The total profit for the first half of 2019 was CNY 518,178,599.05, down from CNY 1,008,166,000.64 in the same period of 2018, reflecting a decrease of approximately 48.7% [169]. Cash Flow and Financial Stability - The net cash flow from operating activities increased by 78.25% to ¥1,012,774,546.19, compared to ¥568,171,153.52 in the same period last year [19]. - Cash and cash equivalents increased by 48.01% compared to the beginning of the year, mainly due to company profits, reduced inventory after the winter storage period, and increased financing activities [29]. - The cash flow from financing activities was 161.69 million RMB, a significant improvement from a negative cash flow of 697.77 million RMB in the previous year [41]. - The ending cash and cash equivalents balance increased to CNY 2,067,392,579.09, compared to CNY 546,066,315.99 at the end of the previous period [181]. - The company maintains a credit rating of AA, with a stable outlook as per the latest report from China Chengxin Securities Rating Co., Ltd [139]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥16,739,532,350.85, up 4.66% from ¥15,994,547,574.74 at the end of the previous year [19]. - Total liabilities rose to RMB 9,045,105,788.08 from RMB 8,548,787,414.96, indicating an increase [155]. - The total amount of guarantees provided by the company to its controlling shareholder, Lingang Group, reached CNY 369.55 million during the reporting period [92]. - The total amount of guarantees (including those to subsidiaries) at the end of the reporting period was CNY 332.73 million, accounting for 43.24% of the company's net assets [93]. Operational Highlights - The company produced 2.7012 million tons of iron, an increase of 6.71% year-on-year, and 2.9192 million tons of steel, up 8.39% year-on-year [38]. - The company continues to focus on the steel industry, producing a range of metallurgical products including hot-rolled medium and wide strip steel, rebar, round steel, and welded steel pipes [26]. - The company has developed new steel grades, including BY-40B and various high-strength steels, to expand its market presence and improve product competitiveness [33]. - The company is the largest rebar production base in Northeast China, filling the gap in rebar capacity in Liaoning Province and Northeast China, which enhances its competitive advantage [30]. Environmental Responsibility - The company achieved a dust emission of 0.41 kg per ton of steel and a sulfur dioxide emission of 0.38 kg per ton of steel in the first half of 2019, demonstrating its commitment to environmental standards [36]. - The company has been recognized as a "green factory" at both provincial and national levels, reflecting its efforts in energy conservation and environmental protection [36]. - The company emitted 316.338 tons of smoke dust, 867.621 tons of dust, 1,106.047 tons of sulfur dioxide, and 2,291.649 tons of nitrogen oxides [103]. - The company has 101 environmental protection facilities, including 21 wastewater treatment facilities and 79 air pollution control facilities [108]. Social Responsibility and Community Engagement - The company actively engages in social responsibility by supporting education and poverty alleviation initiatives in the local community [96]. - The company donated CNY 10 million to Lingyuan Middle School as part of its poverty alleviation efforts [96]. - The company has invested a total of 1,003.74 million in poverty alleviation efforts, with 251 individuals lifted out of poverty [98]. - The company improved educational resources in impoverished areas with an investment of 1,000 million [101]. Corporate Governance and Compliance - The company guarantees the authenticity, accuracy, and completeness of the financial report [3]. - The company appointed Rongcheng Accounting Firm (formerly Huapu Tianjian) as the financial auditor for the fiscal year 2019, approved during the annual shareholders' meeting on March 22, 2019 [78]. - There were no significant lawsuits or arbitration matters during the reporting period [78]. - The company has committed to not engaging in any business that directly competes with Lingang Co., ensuring fair transactions based on market prices [75].

Financial Performance - Operating revenue for the first quarter was approximately ¥5.15 billion, an increase of 16.05% year-on-year[11] - Net profit attributable to shareholders was approximately ¥68.62 million, a decrease of 73.08% compared to the same period last year[11] - The company reported a total comprehensive income of CNY 110.63 million for Q1 2019, compared to CNY 240.74 million in Q1 2018[56] - The total operating profit for Q1 2019 was CNY 158.68 million, down from CNY 318.05 million in Q1 2018[54] - The net profit for Q1 2019 was CNY 110.63 million, a decrease of 54.9% from CNY 240.66 million in Q1 2018[54] Cash Flow - Cash flow from operating activities was approximately ¥51.50 million, a significant improvement from a negative cash flow of ¥439.70 million in the same period last year[11] - Net cash flow from operating activities increased by ¥491,096,324.56 compared to the same period last year, primarily due to a decrease in cash paid for purchasing goods and services[23] - The net cash flow from operating activities for Q1 2019 was ¥253,733,037.73, a significant improvement compared to a net outflow of ¥-293,035,941.69 in Q1 2018[62] - Total cash inflow from financing activities reached ¥1,705,705,144.30, compared to ¥767,416,418.49 in the same period last year, indicating a 122% increase[62] - The net cash flow from financing activities was ¥218,967,577.26, a turnaround from a net outflow of ¥-33,776,947.14 in Q1 2018[62] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥15.58 billion, a decrease of 2.59% compared to the end of the previous year[11] - Total liabilities decreased from ¥8,548,787,414.96 to ¥8,067,401,835.44, a decline of about 5.6%[40] - Total equity increased from ¥7,445,760,159.78 to ¥7,512,461,254.11, an increase of approximately 0.9%[40] - Current liabilities decreased from ¥8,500,217,064.31 to ¥8,014,100,723.14, a reduction of about 5.7%[40] - Total liabilities amounted to approximately ¥8.55 billion, with current liabilities totaling ¥8.50 billion[72] Receivables and Inventory - Accounts receivable increased by 44.64% to approximately ¥76.60 million compared to the end of the previous year[18] - Inventory decreased by 37.62% to approximately ¥1.40 billion compared to the end of the previous year[18] - Accounts receivable increased from ¥585,913,682.61 to ¥735,383,474.63, a growth of approximately 25.5%[44] - Inventory decreased from ¥1,858,904,434.05 to ¥1,175,232,964.48, a decline of about 36.7%[44] Financing Activities - Short-term loans increased by 34.50% to approximately ¥2.26 billion compared to the end of the previous year[18] - The company received government subsidies amounting to approximately ¥482,626.33 during the reporting period[14] - The company received CNY 1.71 billion in cash from borrowings in Q1 2019, compared to CNY 732.13 million in Q1 2018, indicating increased financing activities[60] Taxation - Tax expenses increased by ¥14,783,707.17 compared to the same period last year, primarily due to an increase in VAT payments[22] - The company reported a decrease in income tax expenses of ¥54,072,786.37 compared to the same period last year, mainly due to a decrease in total profit[23] - The company reported a tax expense of CNY 38.30 million for Q1 2019, a decrease from CNY 78.49 million in Q1 2018[54] Research and Development - Research and development expenses for Q1 2019 were CNY 3,481,767.57, up from CNY 2,117,723.62 in Q1 2018, reflecting a 64.3% increase[49] - Research and development expenses increased to CNY 3.48 million in Q1 2019, up from CNY 2.12 million in Q1 2018, reflecting a focus on innovation[54] Shareholder Information - The number of shareholders at the end of the reporting period was 73,145, with the largest shareholder holding 34.57% of the shares[14] - Total equity attributable to shareholders was CNY 7,637,615,937.35, an increase from CNY 7,526,985,726.53 year-over-year[49]

Financial Performance - The net profit attributable to the parent company for the year 2018 was CNY 1,197,362,869, with a proposed cash dividend of CNY 0.44 per 10 shares (including tax) for all shareholders[6]. - The company's operating revenue for 2018 was CNY 20,776,506,349.20, an increase of 15.50% compared to CNY 17,987,744,733.41 in 2017[27]. - The net profit attributable to shareholders for 2018 was CNY 1,197,362,869.00, a slight decrease of 0.78% from CNY 1,206,797,916.91 in 2017[27]. - The net cash flow from operating activities increased by 32.86% to CNY 1,731,121,060.49 in 2018, compared to CNY 1,302,978,639.64 in 2017[27]. - The total assets at the end of 2018 were CNY 15,994,547,574.74, reflecting an 8.28% increase from CNY 14,771,412,132.41 at the end of 2017[27]. - The basic earnings per share for 2018 was CNY 0.43, down from CNY 0.44 in 2017, representing a decrease of 0.78%[31]. - The weighted average return on equity for 2018 was 17.31%, a decrease of 3.49 percentage points from 20.80% in 2017[31]. - The company reported a net profit of CNY 528,136,652.33 in the third quarter of 2018, but a loss of CNY 79,582,889.56 in the fourth quarter[30]. - The total equity attributable to shareholders increased by 16.58% to CNY 7,445,760,159.78 at the end of 2018, compared to CNY 6,386,646,717.90 at the end of 2017[27]. - The company received government subsidies amounting to CNY 1,432,291.66 in 2018, down from CNY 35,148,202.36 in 2017[36]. Operational Highlights - The company's main business is in the steel industry, focusing on the production and development of metallurgical products, with key products including hot-rolled medium-width strip steel, rebar, round steel, wire rod, and welded steel pipes[39]. - The company produced 5.53 million tons of steel in the reporting period, a year-on-year increase of 9.45%[57]. - The total revenue reached 20.78 billion RMB, reflecting a growth of 15.5% compared to the previous year[57]. - The company launched new steel grades, including BY-40B and HRB400E-TB, enhancing its product range and market competitiveness[48]. - The company’s R&D expenses increased by 15.7% to 10.29 million RMB, supporting product upgrades and technological advancements[58]. - The company achieved operating revenue of CNY 2,336,393.39 million, an increase of 17.61% year-on-year[119]. - The actual steel production in 2018 was 553,000 tons, meeting the annual plan[122]. Market Position and Strategy - The company has a strong market presence, exporting to over 30 countries and regions, including Mongolia, India, South Korea, and Indonesia[42]. - The company is recognized for its high-quality products, having received multiple awards, including the "National Metallurgical Product Quality Gold Cup Award" and "Liaoning Province Famous Brand Product" honors[45]. - The company is the largest production base for rebar and wire rod in Northeast China, filling a significant capacity gap in the region[45]. - The company is strategically located near major transportation routes, providing advantages in resource security and steel sales[45]. - The demand for high-quality construction steel is expected to grow in the coming years, providing a favorable market outlook for the company's rebar products[45]. - The company plans to focus on expanding its market share in the North China region, particularly in the oil and gas transportation sector[95]. Environmental and Social Responsibility - The company’s environmental management efforts resulted in a dust emission of 0.51 kg per ton of steel, and zero wastewater discharge[51]. - The company was recognized as a provincial and national "green factory," reflecting its commitment to sustainable practices[51]. - The company has implemented 105 sets of environmental protection facilities, including 21 sets for wastewater treatment and 84 sets for air pollution control[180]. - The company has established a comprehensive emergency response plan for environmental incidents, which has been filed with the Chaoyang Environmental Protection Bureau[182]. - The company has actively participated in social responsibility initiatives, including poverty alleviation and community support[162]. - The company donated a total of 10.78 million RMB for poverty alleviation, including 10 million RMB for educational support in Lingyuan City[163]. - A total of 245 individuals from registered impoverished households were lifted out of poverty, with an average per capita income of 5,400 RMB, exceeding the local poverty line by 1,958 RMB[167]. Financial Management and Risks - The company has outlined potential risks in its future development strategies, which investors should be aware of[7]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments in its forward-looking statements[7]. - The company has a debt pressure with a liability ratio that remains high, and it faces a repayment of 1.55 billion yuan for the "11 Lingang Bond" due in July 2019[125]. - The company aims to optimize its financing structure and improve capital efficiency to address financial risks and maintain adequate liquidity[125]. - The company has established a comprehensive environmental responsibility system to strengthen supervision and management of its environmental practices[125]. Related Party Transactions - The company provided guarantees for its controlling shareholder, Lingyuan Steel Group, as part of related party transactions[144]. - The total amount of related party transactions reached CNY 6,901,432,249.75, with a significant portion involving the purchase of coke at CNY 2,336,023,756.99, accounting for 44.08% of similar transactions[145]. - The company has ongoing related transactions with Ling Steel Group for essential production materials, ensuring operational continuity through long-term service agreements[148]. - The company has a total guarantee balance of CNY 288,952,000, excluding guarantees to subsidiaries[154]. Future Outlook - The company plans to produce 560,000 tons of steel in 2019, with a revenue target of over CNY 185 billion[124]. - The company plans to invest CNY 10 billion in fixed assets in 2019, focusing on upgrading facilities[124]. - The company aims to implement ultra-low emission transformations and equipment upgrades in the coming years, with funding needs exceeding CNY 2 billion[124].

2018 年第三季度报告 公司代码：600231 公司简称：凌钢股份 债券代码：122087 债券简称：11 凌钢债 凌源钢铁股份有限公司 600231 2018 年第三季度报告 1 / 20 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人文广、主管会计工作负责人李占东及会计机构负责人（会计主管人员）李占东保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 20 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 15,553,219,965.70 14,771,41 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2018, representing a year-on-year increase of 15%[21]. - The net profit attributable to shareholders reached RMB 150 million, up 20% compared to the same period last year[21]. - The company's operating revenue for the first half of the year reached ¥10,084,782,795.87, representing a year-on-year increase of 20.59% compared to ¥8,362,745,510.10[22]. - Net profit attributable to shareholders was ¥748,809,106.23, an increase of 84.85% from ¥405,096,804.62 in the same period last year[22]. - The basic earnings per share rose to ¥0.27, up 84.85% from ¥0.15 in the previous year[23]. - The total revenue reached 10.085 billion yuan, representing a year-on-year growth of 20.59%, while net profit increased by 84.85% to 749 million yuan[42]. - The total profit for the first half of 2018 was CNY 1,008,166,000.64, which is a 85.10% increase compared to CNY 543,969,553.84 in the previous year[150]. - The company's operating profit for the first half of 2018 was CNY 1,010,344,011.77, compared to CNY 521,574,787.08 in the same period last year, marking a growth of 93.73%[150]. Market Expansion and Product Development - User data indicated a 10% increase in customer base, with a total of 500,000 active users by the end of June 2018[21]. - The company plans to expand its production capacity by 30% in the next fiscal year to meet growing market demand[21]. - New product lines, including high-strength steel, are expected to launch in Q3 2018, targeting the automotive and construction sectors[21]. - Market expansion efforts include entering two new provinces, aiming for a 5% market share increase in those regions by the end of 2019[21]. - The company has allocated RMB 200 million for research and development in new technologies for steel production[21]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[149]. Financial Position and Assets - The company's total assets increased by 2.10% to ¥15,081,252,969.79 compared to ¥14,771,412,132.41 at the end of the previous year[22]. - The company's total assets reached 926.74 million yuan and net assets were 376.16 million yuan as of June 30, 2018[58]. - The company’s total assets at the end of the period were CNY 6,997,289,955.06, showing a healthy asset base for future operations[165]. - The company has a total asset of CNY 2,491,201.72 million and a net asset of CNY 811,826.14 million as of the end of the reporting period[130]. Environmental and Social Responsibility - The company has invested over 2.1 billion yuan in energy conservation and emission reduction, ranking among the top three in the industry for environmental investment as a percentage of revenue[39]. - The company has achieved zero wastewater discharge for several consecutive years, with its wastewater treatment project recognized as a national key environmental technology demonstration project[39]. - The company has implemented advanced pollution control measures, achieving zero wastewater discharge and effective utilization of solid waste[95]. - The company actively engages in poverty alleviation by visiting and providing support to registered impoverished households[87]. - The company allocated a total of 41.63 million for poverty alleviation efforts, helping 140 registered impoverished individuals to escape poverty[89]. Risks and Challenges - Risk factors include fluctuations in raw material prices and potential regulatory changes impacting the steel industry[21]. - The steel industry faces market risks due to supply-side structural reforms and potential new capacity, leading to price volatility[65]. - Financial risks include high asset-liability ratios and challenges in financing, necessitating improved capital management[67]. Corporate Governance and Related Party Transactions - The total amount of related party transactions for the company with its controlling shareholder, Lingang Group, is approximately RMB 2.78 billion[75]. - The company continues to rely on Lingang Group for essential production materials such as coke and utilities, indicating ongoing related party transactions[77]. - The company has signed long-term service agreements with Lingang Group to ensure normal production operations[77]. - The company has provided guarantees for Lingang Group's bank loans, including a guarantee for a bank acceptance agreement with a maximum amount of RMB 500 million[80]. Shareholder Information - The total share capital increased from 2,519,166,130 shares to 2,771,082,743 shares after the profit distribution plan was implemented, resulting in an increase of 251,916,613 shares[106]. - As of the end of the reporting period, the total number of ordinary shareholders was 82,381[110]. - The largest shareholder, Lingyuan Steel Group, held 957,960,606 shares, representing 34.57% of the total shares[112]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no identified issues affecting the company's ability to continue operations[179]. - The company adheres to the Chinese Accounting Standards, ensuring that the financial statements accurately reflect its financial position as of June 30, 2018[181]. - The accounting period follows the Gregorian calendar, from January 1 to December 31 each year[182].