股票代码：600231 转债代码：110070 股票简称：凌钢股份 转债简称：凌钢转债 编 号：临 2023-055 凌源钢铁股份有限公司 关于对外提供担保的进展公告 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。 为保障公司生产经营持续稳定运行，2022 年 12 月 2 日，公司第八届董事会 第十六次会议审议通过了《关于同意全资子公司凌钢股份北票保国铁矿有限公司 为公司提供担保的议案》，该项担保已经公司 2022 年 12 月 19 日召开的 2022 年 第二次临时股东大会审议通过。具体内容详见公司于 2022 年 12 月 3 日和 2022 年 12 月 20 日在《中国证券报》、《证券时报》和上海证券交易所网站 http://www.sse.com.cn 刊登的《凌源钢铁股份有限公司关于对外提供担保的公 告》（公告临 2022-060）和《凌源钢铁股份有限公司 2022 年第二次临时股东大 会决议公告》（公告临 2022-062）。 2022 年 12 月 27 日，凌钢股份北票保国铁矿有限公司（以下简称"保国公司 ...

Financial Performance - The company reported a half-year revenue of RMB 1.2 billion, representing a 15% increase compared to the same period last year[14]. - The company's operating revenue for the first half of 2023 was approximately CNY 12.87 billion, a decrease of 16.95% compared to CNY 10.69 billion in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2023 was a loss of approximately CNY 996.51 million, a decline of 176.07% from a profit of CNY 131 million in the same period last year[20]. - The basic earnings per share for the first half of 2023 was -CNY 0.03, down 160% from CNY 0.05 in the same period last year[20]. - The weighted average return on equity for the first half of 2023 was -1.23%, a decrease of 2.64 percentage points from 1.41% in the same period last year[20]. - Future guidance indicates a projected revenue growth of 10-15% for the next half of the year, driven by increased demand and market expansion[14]. - The company achieved operating revenue of 10.689 billion yuan, a decline of 16.95% year-on-year, and reported a net loss of 99.651 million yuan, a decrease of 176.07%[32]. Production and Operations - The total steel production volume reached 1.5 million tons, a 10% increase year-on-year, reflecting enhanced operational efficiency[14]. - The company produced 2.7984 million tons of steel, a decrease of 2.08% year-on-year, while iron production increased by 3.76% to 2.7154 million tons[32]. - In the reporting period, the production of pig iron, crude steel, and steel products reached 452 million tons, 536 million tons, and 677 million tons, representing year-on-year growth of 2.70%, 1.30%, and 4.40% respectively[26]. - The company has developed 10 new steel varieties and 5 personalized steel grades, expanding its product range significantly[28]. - The company’s main products include hot-rolled round steel, rebar, and welded steel pipes, which are widely used in various industries including construction and automotive[22][23][24]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in exports by the end of 2024[14]. - New product lines, including high-strength steel, are expected to launch in Q3 2023, aiming to capture a larger market share[14]. - The company exports its products to over 30 countries and regions, including Southeast Asia, the Middle East, and Africa, demonstrating significant market expansion efforts[22][23][24]. Research and Development - Research and development investment increased by 25%, focusing on sustainable steel production technologies[14]. - R&D expenses increased by 7.70% to approximately CNY 3.87 million, reflecting ongoing investment in product and technology development[39]. - The company has received 15 provincial and ministerial-level scientific achievements and has been granted 2 invention patents and 170 utility model patents[28]. Environmental Performance - The company reported emissions of 0.36 kg of particulate matter, 0.31 kg of sulfur dioxide, and 0.62 kg of nitrogen oxides per ton of steel produced, indicating a focus on green development[31]. - The company has implemented a low-cost strategy and energy utilization strategy to enhance competitiveness and achieve high-quality development[30]. - The company is focusing on low emissions and energy efficiency improvements through comprehensive energy management and equipment upgrades[36]. - The company reported zero wastewater discharge during the reporting period[75]. - The company has achieved compliance with all pollution discharge standards during the reporting period[85]. Financial Integrity and Risks - The company has no non-operating fund occupation by controlling shareholders, ensuring financial integrity[6]. - The company has outlined potential risks in its operations, including fluctuations in raw material prices and regulatory changes[6]. - Financial risks are present due to high asset-liability ratios and potential obligations arising from guarantees provided to the controlling shareholder, Lingang Group[69]. - The company faces significant market risks due to geopolitical tensions and domestic supply-demand imbalances, which may lead to market volatility in the steel industry[66]. Corporate Governance - The company has ensured that all commitments made by controlling shareholders and related parties are fulfilled in a timely manner[95]. - The company guarantees that it will not engage in any business activities that directly compete with Lingang Co., ensuring fair practices[96]. - The company has established safety education programs to enhance the safety awareness of villagers, complying with national safety production policies[91]. Shareholder and Equity Information - The largest shareholder, Lingyuan Steel Group, holds 1,012,999,876 shares, accounting for 35.52% of total shares, with 464,112,000 shares pledged[123]. - The company reported a cumulative conversion amount of 222,957,000 RMB from convertible bonds, resulting in 81,076,215 shares converted, which is 2.93% of the total shares before conversion[119]. - The company’s stock pledge situation includes significant pledges from major shareholders, indicating potential liquidity risks[123]. Cash Flow and Liquidity - The net cash flow from operating activities for the first half of 2023 was approximately CNY 1.22 billion, an increase of 119.21% compared to CNY 558.25 million in the same period last year[20]. - The company's cash and cash equivalents increased to ¥4,064,240,577.86, representing 23.10% of total assets, up 43.56% from the previous year[45]. - The cash inflow from financing activities increased to CNY 469,897,713.41 in 2023 from CNY 329,883,787.93 in 2022, representing a growth of approximately 42.5%[158]. Compliance and Regulatory Matters - The company is classified as a key pollutant discharge unit by environmental protection authorities[75]. - New policies on steel smelting project approvals and capacity replacement pose regulatory risks, necessitating compliance with energy efficiency standards and carbon emission controls[67]. - The company has been recognized as one of the first 45 enterprises to pass the Ministry of Industry and Information Technology's review of the "Steel Industry Normative Conditions"[29].

股票代码：600231 转债代码：110070 股票简称：凌钢股份 转债简称：凌钢转债 编 号：临 2023-048 凌源钢铁股份有限公司 关于召开 2023 年半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。 重要内容提示： 会议召开时间：2023 年 9 月 5 日(星期二) 下午 15:00－16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 凌源钢铁股份有限公司(以下简称"公司")将于2023年8月31日在上海证券交易 所网站（www.sse.com.cn ）披露2023年半年度报告。为便于广大投资者更全面深入 地了解公司2023年半年度经营成果、财务状况，公司计划于2023年9月5日下午 15:00-16:00举行业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 （一） 会议召开时间：2023年9月5日下午15:00－16:00 （二）会 议 召 开 地 点 ： 上 海 证 ...

股票代码：600231 转债代码：110070 股票简称：凌钢股份 转债简称：凌钢转债 编 号：临 2023-034 凌源钢铁股份有限公司 关于召开业绩说明会的公告 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。 重要内容提示： 会议召开时间：2023 年 6 月 9 日(星期五) 下午 16:00－17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 本次投资者说明会以网络互动形式召开，公司将针对2022年度及2023年第一季度 的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一） 会议召开时间：2023年6月9日下午16:00－17:00 1 （ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow ...

Financial Performance - The company reported a loss for the year 2022 and will not distribute profits or increase capital reserves[6]. - The company's operating revenue for 2022 was CNY 21.56 billion, a decrease of 17.57% compared to CNY 26.15 billion in 2021[23]. - The net profit attributable to shareholders was a loss of CNY 833.66 million, a decline of 190.75% from a profit of CNY 918.65 million in 2021[23]. - The net cash flow from operating activities was a negative CNY 785.34 million, down 221.73% from a positive CNY 645.14 million in 2021[23]. - The total assets at the end of 2022 were CNY 16.63 billion, a decrease of 5.56% from CNY 17.61 billion at the end of 2021[23]. - The basic earnings per share for 2022 was -CNY 0.29, compared to CNY 0.32 in 2021, reflecting a decrease of 190.63%[24]. - The weighted average return on equity was -9.63% in 2022, down 20.02 percentage points from 10.39% in 2021[24]. - The total profit for the reporting period was -109,371.90 million RMB, a significant decrease from 120,877.62 million RMB in the previous year[55]. - Operating profit dropped to -94,392.16 million RMB, representing a decline of 86.30% compared to the previous year's profit of 126,947.43 million RMB[55]. - The company reported a significant reduction in R&D expenses by 36.44% to 7.635 million RMB[52]. Risk Management and Compliance - The audit report issued by the accounting firm was a standard unqualified opinion, ensuring the accuracy and completeness of the financial report[5]. - The company has detailed potential risks in the management discussion and analysis section of the report[8]. - The company has a comprehensive risk disclosure in the report, highlighting various risks it may face in the future[8]. - The company is committed to maintaining transparency and accountability in its financial disclosures[9]. - The company has not engaged in non-operating fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company aims to enhance its governance capabilities and risk control measures, particularly regarding financial obligations to its controlling shareholder[109]. - The company has established independent committees within the board to enhance governance and oversight functions[111]. - The independent directors have played a significant role in the formulation of the company's development strategy and financial auditing[111]. - The company has ensured compliance with laws and regulations regarding related party transactions and will disclose any relevant information promptly[175]. Operational Efficiency and Production - The company achieved a monthly production record for steel and materials, with a 59.8% variety ratio for medium and wide strip steel[32]. - The company maintained a low-cost strategy, with processing costs for rebar and ordinary carbon round steel among the industry's lowest[32]. - The company produced 5.1011 million tons of steel, a decrease of 5.65% year-on-year[51]. - The company achieved pig iron production of 4.816 million tons, exceeding the plan by 2.47%, and steel production of 5.1011 million tons, completing 99.05% of the plan[103]. - The company plans to replace two 450m³ and two 1000m³ blast furnaces with two 1550m³ furnaces, with a replacement ratio of 1.251:1, aiming for an annual capacity of 271 million tons[38]. - The company’s steel production capacity is 7.01 million tons, including 1.4 million tons of strip steel and 0.6 million tons of wire rod[38]. - The company has implemented multiple operational improvements, achieving an effective operation rate of 78.9% for the main shaft lifting system[90]. Environmental Initiatives - The company invested over 4 million RMB in environmental projects, including a coal-to-electricity initiative in the Tiedanshan area[89]. - The company has been recognized for its operational standards, being one of the first to pass the Ministry of Industry and Information Technology's review[48]. - The company maintained a focus on green development, achieving low emissions with specific metrics for pollutants per ton of steel produced[50]. - The company has established a comprehensive emergency response system for environmental incidents, with regular drills conducted to enhance risk management[161]. - The company achieved zero wastewater discharge and implemented energy recovery systems, leading to significant reductions in emissions and resource utilization[168]. - The HRB600 high-strength rebar product is recognized for its green and low-carbon attributes, saving approximately 45% and 20% in steel usage compared to HRB400 and HRB500, respectively[168]. Strategic Planning and Future Outlook - The company plans to implement a comprehensive cost reduction strategy to mitigate financial risks and improve operational efficiency[106]. - The company provided guidance for 2023, expecting revenue growth of 10% to 12%[119]. - The company plans to enter two new international markets by the end of 2023[119]. - The fixed asset investment plan for 2023 is set at 1.8 billion yuan, focusing on green development and ultra-low emission transformation projects[105]. - The company aims to increase its market share by 3% in the next year through targeted marketing strategies[119]. - The company plans to launch a new marketing campaign with a budget of $10 million to boost brand awareness in Q4 2023[120]. Shareholder Relations and Governance - The company has established a cash dividend policy, ensuring that cash dividends will not be less than 10% of the distributable profits in profitable years[141]. - The company plans not to distribute cash dividends or issue bonus shares for the current reporting period, indicating a focus on retaining earnings[147]. - The company has made timely revisions to its governance documents in response to regulatory changes in 2022[111]. - The company reported a total pre-tax compensation of 1,544.15 million CNY for its directors and senior management during the reporting period[115]. - The company has maintained independence in its operations without significant influence from controlling shareholders[111]. - The company has confirmed that it will not utilize related party transactions to transfer profits from Ling Steel Co. or harm the interests of its shareholders[175]. Market and Competitive Position - The company received the 9th Liaoning Provincial Governor Quality Award, indicating recognition for quality improvements[32]. - The company has been rated as an A-level enterprise in the latest evaluation of steel enterprise development quality and comprehensive competitiveness by the Metallurgical Industry Planning Research Institute[44]. - The company’s "Hualing" brand hot-rolled round steel has passed the IATF16949:2016 automotive quality management system certification, indicating high product quality[39]. - The company’s "Lingyuan" brand rebar is a nationally famous trademark and has been recognized as a quality product in various major construction projects[40]. - The company’s products are exported to over 40 countries and regions, including Southeast Asia, the Middle East, and the Americas[44]. Related Party Transactions - The total amount of related party transactions reached RMB 8,261,259,534.39, with significant transactions including the purchase of iron ore at RMB 1,841,136,181.36, accounting for 34.74% of similar transactions[188]. - The company engaged in related party transactions with its controlling shareholder, Ling Steel Group, for various goods and services, ensuring operational continuity through long-term service agreements[188]. - The company has established independent branding with trademarks such as "Lingyuan" and "Ling Steel," maintaining operational independence while engaging in necessary related transactions[188]. - The company has confirmed a liability of RMB 49,558,237.43 as a result of the court ruling, which was recognized as a liability and reduced the total profit for the year 2022 by the same amount[179].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 5,531,291,081.21, representing a decrease of 8.09% compared to the same period last year[6] - The net profit attributable to shareholders of the listed company was CNY 45,988,853.38, down 63.65% year-on-year[6] - The basic earnings per share for the period was CNY 0.02, reflecting a decline of 50.00% compared to the previous year[7] - Total revenue for Q1 2023 was CNY 5,531,291,081.21, a decrease of 8.06% compared to CNY 6,017,917,041.33 in Q1 2022[21] - Operating profit for Q1 2023 was ¥65,112,483.00, down 63.0% from ¥175,949,708.98 in the same period last year[22] - The total comprehensive income for Q1 2023 was ¥45,988,853.38, reflecting a decrease of 63.7% from ¥126,532,977.31 in Q1 2022[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 18,032,699,143.49, an increase of 8.44% from the end of the previous year[7] - Total assets reached CNY 18,032,699,143.49, up from CNY 16,629,080,480.13 at the end of 2022, indicating an increase of 8.47%[21] - The company's total liabilities increased to CNY 9,837,829,840.26 from CNY 8,483,238,376.46, marking a rise of 15.98%[20] - Total liabilities reached ¥8,483,238,376.46, with current liabilities at ¥7,215,405,133.49 and non-current liabilities at ¥1,267,833,242.97[29] - Shareholders' equity totaled ¥8,145,842,103.67, including paid-in capital of ¥2,852,155,097.00 and undistributed profits of ¥3,563,826,365.56[30] Cash Flow - The net cash flow from operating activities was CNY 43,419,776.13, with no applicable year-on-year comparison[6] - Cash flow from operating activities for Q1 2023 was ¥43,419,776.13, a significant improvement from a negative cash flow of -¥40,420,736.53 in Q1 2022[24] - The company reported a net cash outflow from investing activities of -¥72,652,805.01 in Q1 2023, compared to -¥61,165,123.76 in Q1 2022[25] - The net cash inflow from financing activities in Q1 2023 was ¥181,769,255.27, a turnaround from a net outflow of -¥365,877,693.83 in Q1 2022[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 52,087[10] - The largest shareholder, Lingyuan Iron and Steel Group Co., Ltd., held 1,012,999,876 shares, accounting for 35.52% of the total shares[10] Related Party Transactions - The company engaged in significant related party transactions, including the sale of steam at an agreed price of RMB 49.81, totaling RMB 50,807,197.16, with a 98.01% settlement rate[12] - The company has been involved in various transactions with its controlling shareholder, including the purchase of coke at a market price of RMB 2,499.98 per ton, amounting to RMB 399,608,558.91, which accounted for 25.93% of similar transactions[12] Changes and Notifications - The company has undergone an accounting estimate change effective from January 1, 2023, which does not affect previously disclosed financial reports[15] - The company received a notification regarding the transfer of 49% equity in Lingyuan Steel Group to Ansteel Group, indicating a change in the controlling shareholder's structure[17] - The company has implemented new accounting standards starting January 1, 2023, affecting the presentation of financial statements[25] Government Subsidies - The company reported a total of CNY 672,068.44 in government subsidies related to normal business operations[8] - The company has received a total of RMB 50 billion in guarantees from its controlling shareholder, with a cumulative balance of RMB 33.2 billion as of March 2022[13] Inventory and Investments - Inventory as of March 31, 2023, was CNY 1,811,381,562.55, an increase from CNY 1,730,989,586.40 at the end of 2022, reflecting a growth of 4.87%[19] - The company has long-term equity investments valued at ¥9,493,758.39 and fixed assets worth ¥7,240,511,848.39[28] Research and Development - Research and development expenses increased to CNY 2,005,800.83 in Q1 2023, up from CNY 1,774,243.07 in Q1 2022, showing a rise of 12.97%[21]

Financial Performance - The company's operating revenue for Q3 2022 was ¥4,592,599,238.63, a decrease of 38.55% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2022 was -¥340,071,695.13, representing a decline of 203.57% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was -¥341,761,223.26, a decrease of 209.14% compared to the previous year[6]. - The basic earnings per share for Q3 2022 was -¥0.12, a decline of 200.00% year-on-year[9]. - The diluted earnings per share for Q3 2022 was also -¥0.12, reflecting a decrease of 209.09% compared to the same period last year[9]. - The weighted average return on equity for Q3 2022 was -3.80%, a decrease of 7.33 percentage points year-on-year[9]. - Total operating revenue for the first three quarters of 2022 was ¥17,463,539,075.65, a decrease of 13.5% compared to ¥20,079,162,790.05 in the same period of 2021[38]. - Net profit for the third quarter of 2022 was -¥209,066,818.13, compared to a net profit of ¥1,094,320,564.99 in the same quarter of 2021, indicating a significant decline[41]. - Basic earnings per share for the third quarter of 2022 was -¥0.07, compared to ¥0.39 in the same quarter of 2021[43]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥18,531,538,530.43, an increase of 5.24% compared to the end of the previous year[9]. - The equity attributable to shareholders at the end of Q3 2022 was ¥8,773,260,320.38, a decrease of 5.17% compared to the end of the previous year[9]. - Total liabilities increased to ¥9,758,278,210.05 in 2022 from ¥8,356,924,723.13 in 2021, representing an increase of 16.8%[34]. - Non-current liabilities totaled ¥1,048,248,283.19 in 2022, up from ¥704,105,507.59 in 2021, marking an increase of 48.8%[34]. - Shareholders' equity decreased to ¥8,773,260,320.38 in 2022 from ¥9,251,411,167.91 in 2021, a decline of 5.2%[34]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥622,123,656.70, a decrease of 42.98% compared to the same period last year[9]. - Cash flow from operating activities for the first three quarters of 2022 was ¥15,578,757,434.21, down from ¥17,900,829,907.16 in the same period of 2021, a decrease of 12.9%[43]. - The net cash flow from operating activities was 622,123,656.70, a decrease of 43.0% compared to 1,091,093,193.92 from the previous period[46]. - The total cash outflow from operating activities was 15,188,726,483.30, a decrease from 16,933,201,566.01 in the previous period[46]. - The cash and cash equivalents at the end of the period amounted to 2,044,931,641.17, down from 2,261,306,466.57 in the previous period[48]. Related Party Transactions - Major related party transactions included purchasing iron ore from Lingyuan Steel Group for RMB 956,848,656.04, accounting for 24.65% of similar transactions[18]. - The company also purchased coke from Lingyuan Steel Group for RMB 1,297,148,431.79, representing 25.02% of similar transactions[18]. - The company reported a total of RMB 1,332,524,856.98 in purchases of scrap steel from Lingyuan Steel Group, which accounted for 99.90% of similar transactions[18]. - The company engaged in significant sales of steel products, with sales to related parties amounting to RMB 58,806,792.40 for steel materials[21]. - The company has established a strong relationship with its major shareholder, Lingyuan Steel Group, with multiple transactions and guarantees in place[20]. - The company is focused on maintaining market price principles for its related party transactions, ensuring transparency and compliance[18]. Operational Challenges - The decline in revenue was primarily due to a significant drop in steel prices and a decrease in production and sales volume caused by technical renovations[11]. - The company's cash paid for taxes was 230,279,306.26, significantly lower than 860,206,490.62 in the previous period[46]. - Payments to employees increased to 876,163,385.50 from 813,919,722.51 in the previous period[46]. Awards and Recognition - The company received a quality award from the Liaoning Provincial Government, recognizing its commitment to quality standards[27]. Corporate Developments - The registered capital of the company increased from RMB 2.83 billion to RMB 2.85 billion following a business registration change[27]. - The company is undergoing a potential restructuring with Ansteel Group, which may lead to a change in actual control[27]. - The company has obtained a construction permit for its steel production capacity replacement project, allowing it to proceed with construction[27].

Financial Performance - The company reported a half-year revenue of 600 million RMB, reflecting a 10% increase compared to the same period last year[1]. - The net profit for the first half of 2022 was 80 million RMB, representing a 15% year-on-year growth[1]. - The company's operating revenue for the first half of 2022 was ¥12,870,939,837.02, representing a 2.10% increase compared to ¥12,605,743,300.67 in the same period last year[24]. - The net profit attributable to shareholders of the listed company decreased by 82.90% to ¥131,004,877.00 from ¥765,975,234.25 year-on-year[24]. - The total profit for the reporting period was CNY 193.28 million, a significant decrease from CNY 1,208.78 million in the previous year, representing a decline of 83.99%[49]. - Operating profit decreased to CNY 195.47 million from CNY 1,269.47 million, a drop of 84.63% year-over-year[49]. - The total comprehensive income attributable to the parent company's owners was CNY 131,004,877.00, a decrease from CNY 765,975,234.25 in the previous period[177]. - Basic earnings per share decreased by 81.48% to ¥0.05 from ¥0.27 in the same period last year[25]. Market Expansion and Product Development - The company has expanded its production capacity by 20%, aiming to meet the increasing market demand for steel products[1]. - User data indicates a 25% increase in customer base, with significant growth in the construction and manufacturing sectors[1]. - The company plans to launch a new line of eco-friendly steel products by Q4 2022, targeting a 30% market share in this segment[1]. - The company is exploring potential mergers and acquisitions to enhance its market position and diversify its product offerings[1]. - The company’s main products include hot-rolled round steel and rebar, which have received multiple quality awards and certifications, enhancing their market position[32]. - The company exports its products to over 30 countries and regions, including Southeast Asia, the Middle East, and Africa, indicating strong international market presence[32]. Research and Development - The company has invested 50 million RMB in R&D for new technologies aimed at improving production efficiency[1]. - The company continues to focus on R&D and has received various quality certifications for its products, which are widely used in major infrastructure projects[32]. - The company has developed over 20 personalized products, including Q390MC and A572-GR50, utilizing advanced micro-alloying techniques, and has achieved full coverage of pipeline steel grades below X60[39]. - Research and development expenses for the first half of 2022 were ¥3,593,990.38, down from ¥4,173,784.29 in the same period of 2021, indicating a decrease of about 13.8%[172]. Financial Position and Cash Flow - The net cash flow from operating activities was ¥558,254,019.20, a significant recovery from a negative cash flow of -¥180,901,702.03 in the previous year[24]. - Cash flow from operating activities improved significantly, with a net cash flow of 558.25 million yuan compared to -180.90 million yuan in the previous year[47]. - The company reported a net cash outflow from investing activities of ¥126,321,657.92, a recovery from a net outflow of ¥67,884,403.15 in the same period last year[187]. - The ending cash and cash equivalents balance was ¥1,460,378,211.51, an increase from ¥1,355,259,537.84 at the end of the first half of 2021[187]. Environmental Management and Sustainability - The company has achieved significant reductions in emissions, with organized particulate matter emissions at 0.34 kg per ton of steel and sulfur dioxide emissions at 0.23 kg per ton of steel[42]. - The company is actively pursuing low-carbon transformation and energy efficiency improvements in response to national policies on carbon emissions and environmental regulations[75]. - The company has established a carbon resource management system to enhance carbon reduction efforts and comply with local regulatory requirements[75]. - The company is focused on maintaining compliance with environmental standards, as evidenced by the consistent performance across various emission points[91]. - The company plans to invest over 700 million yuan in comprehensive governance and ultra-low emission transformation across various production areas, enhancing its environmental performance[101]. Challenges and Risk Factors - Risk factors have been identified, including fluctuations in raw material prices and potential regulatory changes impacting the steel industry[1]. - The company faced significant challenges during the reporting period, with national pig iron, crude steel, and steel output decreasing by 4.7%, 6.5%, and 4.6% respectively, totaling 439 million tons, 527 million tons, and 667 million tons[35]. - The steel market experienced a trend of reduced supply, weak demand, rising inventory, falling prices, increased costs, decreased revenue, and profit contraction due to complex international conditions and domestic pandemic outbreaks[35]. - Financial risks remain due to high asset-liability ratios in the steel industry, with the company focusing on expanding financing channels and optimizing capital structure[75]. Corporate Social Responsibility - The company directly procured nearly CNY 300,000 worth of agricultural products from the village as part of the "Consumption Assistance New Spring Action" during the poverty alleviation efforts[105]. - The pig farm and planting project in Guojia Village is expected to generate profits exceeding CNY 500,000 for the year, providing funds of CNY 73,300 to 108 registered impoverished households[105]. - The company created 30 jobs through poverty alleviation projects and provided 26 public welfare positions, distributing CNY 52,000 in wages to impoverished individuals[105]. - The company donated CNY 14,000 worth of free medical services to Guojia Village residents through collaboration with a local hospital[105].

Financial Performance - The company's operating revenue for Q1 2022 was ¥6,017,917,041.33, representing a year-on-year increase of 4.04%[6] - Net profit attributable to shareholders was ¥126,532,977.31, a decrease of 46.88% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥123,909,227.26, down 47.74% year-on-year[6] - The basic earnings per share for the period was ¥0.04, reflecting a decline of 50.00%[6] - The weighted average return on equity was 1.36%, a decrease of 1.45 percentage points compared to the previous year[6] - Total revenue for Q1 2022 reached ¥6,017,917,041.33, an increase of 4.05% compared to ¥5,784,041,493.32 in Q1 2021[30] - Net profit for Q1 2022 was ¥126,532,977.31, a decrease of 47.96% from ¥238,209,856.41 in Q1 2021[34] - The total comprehensive income attributable to the parent company for Q1 2022 was CNY 126,532,977.31, compared to CNY 238,209,856.41 in Q1 2021, reflecting a decrease of approximately 47%[36] - Basic and diluted earnings per share for Q1 2022 were both CNY 0.04, down from CNY 0.08 in Q1 2021, indicating a 50% decline[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥17,617,074,009.38, a slight increase of 0.05% from the end of the previous year[9] - The company's total assets amounted to ¥17,617,074,009.38, slightly up from ¥17,608,335,891.04 in the previous period[30] - Total liabilities decreased to ¥8,232,261,895.34 from ¥8,356,924,723.13, indicating a reduction of approximately 1.49%[30] - Non-current liabilities totaled ¥708,166,273.97, a slight increase from ¥704,105,507.59[30] - The company reported a decrease in accounts payable from ¥1,090,813,624.29 to ¥1,078,994,001.51, a decline of 1.45%[30] Cash Flow - The net cash flow from operating activities was -¥40,420,736.53, indicating a significant cash outflow[6] - Cash inflows from operating activities totaled CNY 5,115,710,392.96 in Q1 2022, a decrease of about 10.5% from CNY 5,717,861,043.75 in Q1 2021[40] - Cash outflows from operating activities were CNY 5,156,131,129.49 in Q1 2022, down from CNY 6,064,475,614.87 in Q1 2021, representing a reduction of approximately 15%[40] - The net cash flow from operating activities for Q1 2022 was negative CNY 40,420,736.53, an improvement from negative CNY 346,614,571.12 in Q1 2021[40] - Cash outflows from financing activities in Q1 2022 amounted to CNY 687,881,439.44, compared to CNY 229,942,680.24 in Q1 2021, showing an increase of about 199%[42] - The net cash flow from financing activities for Q1 2022 was negative CNY 365,877,693.83, contrasting with a positive CNY 223,907,091.88 in Q1 2021[42] - The ending cash and cash equivalents balance for Q1 2022 was CNY 1,524,117,584.38, up from CNY 1,390,221,748.16 at the end of Q1 2021[42] - The company reported a cash balance of 3,934,380,618.45 CNY as of March 31, 2022, down from 4,235,385,159.22 CNY at the end of 2021[24] Shareholder Information - Shareholders' equity attributable to shareholders was ¥9,384,812,114.04, up 1.44% from the previous year[9] - The total number of ordinary shareholders at the end of the reporting period was 54,577[14] Related Party Transactions - The company engaged in significant related party transactions with Lingyuan Steel Group, totaling 678,504,584.06 CNY for iron concentrate, which accounted for 71.06% of similar transactions[17] - The company also purchased coke from Lingyuan Steel Group for 389,863,004.30 CNY, representing 22.46% of similar transactions[17] - The total amount of guarantees provided by the company and its subsidiaries to Lingyuan Steel Group and its controlled companies was 5 billion CNY, with a cumulative guarantee balance of 3.248 billion CNY as of March 31, 2022[21] - The company provided logistics services to related parties, generating revenue of 11,776,607.21 CNY, which accounted for 100% of the service[20] - The company plans to continue its strategic partnerships and expand its market presence through ongoing related party transactions and service agreements[21] Operational Costs - The company experienced a decrease in gross profit due to the increase in sales costs outpacing sales price growth[11] - Total operating costs for Q1 2022 were ¥5,840,467,387.13, up from ¥5,470,825,717.71 in Q1 2021, reflecting a year-over-year increase of 6.73%[34] Research and Development - Research and development expenses for Q1 2022 were ¥1,774,243.07, down from ¥1,847,559.76 in Q1 2021[34] Asset Management - The company’s total liabilities and equity structure remains stable, with a focus on maintaining liquidity and managing receivables effectively[24]

Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.97 RMB per 10 shares to all shareholders based on the total share capital as of the dividend distribution date[5]. - The company has committed to maintaining the distribution ratio per share even if the total share capital changes before the dividend distribution date[5]. - The company has cumulatively distributed CNY 1.48 billion in cash dividends since its listing, excluding loss years[191]. Financial Performance - The company's operating revenue for 2021 was CNY 26.15 billion, an increase of 28.85% compared to CNY 20.30 billion in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 918.65 million, representing a 64.61% increase from CNY 558.07 million in 2020[22]. - The net cash flow from operating activities decreased by 61.92% to CNY 645.14 million in 2021, down from CNY 1.69 billion in 2020[22]. - The total assets at the end of 2021 were CNY 17.61 billion, a 10.08% increase from CNY 15.99 billion at the end of 2020[22]. - The basic earnings per share for 2021 were CNY 0.32, up 60.00% from CNY 0.20 in 2020[23]. - The weighted average return on equity increased by 3.44 percentage points to 10.39% in 2021, compared to 6.95% in 2020[23]. - The company reported a net profit of CNY 238.21 million in Q1 2021, with a total operating revenue of CNY 5.78 billion for the same period[29]. - The company experienced a net loss of CNY 175.67 million in Q4 2021, despite generating CNY 6.07 billion in operating revenue[29]. - The company achieved an operating income of 26.154 billion RMB, a year-on-year increase of 28.85%[55]. - The net profit for the reporting period was 919 million RMB, reflecting a year-on-year growth of 64.61%[52]. - The total assets at the end of the reporting period were 17.608 billion RMB, an increase of 10.08% from the beginning of the year[52]. - The company maintained a debt-to-asset ratio of 47.46%, a decrease of 0.80 percentage points compared to the beginning of the year[52]. Operational Efficiency and Production - The company achieved a historical high in operational performance, with a significant focus on cost reduction and innovation, leading to a profit increase of over ¥500 million annually from improved pricing strategies[33]. - The average daily production of special steel increased from 6,700 tons to 7,100 tons, marking a historic breakthrough in production efficiency[36]. - The company produced 5.4068 million tons of steel, a year-on-year decrease of 6.96%[52]. - The company achieved a year-on-year increase of 14.2% in the national industrial producer's ex-factory prices, with mining industry prices rising by 34.4% and raw material prices increasing by 15.8%[41]. - The company’s steel pipe production decreased by 38.99% year-on-year to 57,900 tons, with an operating income of ¥38,263.05 million, down 10.52% year-on-year[107]. Market Expansion and Product Development - The company successfully entered the photovoltaic support and other new energy sectors, enhancing its market presence[33]. - The company has developed a range of products including HRB600 and HRB500E rebar, becoming the first in Northeast China to produce large specifications[48]. - The company is currently implementing a project to replace three 35-ton converters with one 120-ton converter, which will result in a net capacity increase of 135,000 tons per year[44]. - The company is focusing on market expansion and optimizing product structure to adapt to changing market conditions[107]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million allocated for potential deals[132]. Environmental Compliance and Sustainability - The company has been recognized as a "green factory" at both provincial and national levels, emphasizing its commitment to environmental sustainability[51]. - The company has achieved zero emissions for wastewater and steel slag, and all energy-saving and emission reduction indicators are at industry-leading levels[193]. - The company has implemented measures to ensure that all environmental protection facilities operate in accordance with national discharge permit requirements[183]. - The company invested CNY 330 million to build complete environmental protection facilities for a 320m² sintering machine, achieving ultra-low emission standards[189]. - The company has dispatched 7 first secretaries and 1 working team to support rural revitalization and poverty alleviation efforts[194]. Risk Management and Governance - The company emphasizes the importance of understanding the difference between plans, forecasts, and commitments in its forward-looking statements[6]. - The company has detailed potential risks in the section "Management Discussion and Analysis" of the report[6]. - The company faces significant market risks due to complex external environments, including demand contraction and supply shocks, with a focus on maintaining core competitiveness through a low-cost strategy and digital transformation[119]. - New policies on steel production and energy efficiency standards pose regulatory risks, necessitating proactive measures for low-carbon transformation and compliance with national policies[119]. - The company has established a three-year shareholder return plan (2021-2023) to enhance shareholder value and governance practices[123]. Remuneration and Management Structure - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 1,525.85 million[127]. - The company has established a performance evaluation mechanism for directors and senior management, with compensation linked to performance metrics[167]. - The remuneration system for directors and senior management is proposed by the remuneration and assessment committee and approved by the shareholders' meeting[144]. - The company has a performance assessment system for determining annual performance remuneration for directors and senior management[144]. Employee and Training Initiatives - The total number of R&D personnel is 243, accounting for 3.23% of the company's total workforce[73][75]. - In 2022, the company plans to conduct 362 training sessions, training 22,326 participants with a total of 5,895 teaching hours[159]. - The workforce consists of 6,247 production personnel, 124 sales personnel, 1,019 technical personnel, 56 financial personnel, and 88 administrative personnel[153].