2022 年第一季度报告 单位：元 币种：人民币 证券代码：601003 证券简称：柳钢股份 柳州钢铁股份有限公司 2022 年第一季度报告 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个别及连带责任。 重要内容提示 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | |----------------------------------|-------------------|---------------------------------------| | 项目 | 本报告期 | 本报告期比上年同期增减 \n变动幅度 (%) | | 营业收入 | 22,962,471,797.25 | 30.4 ...

Financial Performance - In 2021, the company's operating revenue reached ¥92.25 billion, a 68.67% increase compared to ¥54.69 billion in 2020[18] - The net profit attributable to shareholders was ¥1.46 billion, representing a decrease of 15.28% from ¥1.72 billion in 2020[18] - The net cash flow from operating activities increased by 23.79% to ¥3.23 billion from ¥2.61 billion in 2020[18] - The total assets of the company at the end of 2021 were ¥72.56 billion, a 19.74% increase from ¥60.59 billion at the end of 2020[18] - The net assets attributable to shareholders increased by 6.87% to ¥12.58 billion from ¥11.77 billion at the end of 2020[18] - Basic earnings per share decreased by 14.93% to CNY 0.57 in 2021 compared to CNY 0.67 in 2020[21] - Net profit attributable to shareholders was CNY 23.19 billion in 2021, with a significant increase in production: iron, steel, and steel products grew by 24.29%, 26.08%, and 28.27% respectively[29] - Operating revenue reached CNY 92.252 billion in 2021, reflecting a stable performance amid challenging market conditions[29] - The company reported a net cash flow from operating activities of CNY 2.847 billion in Q4 2021, showing recovery in cash generation[22] - The company faced a net loss of CNY 847.41 million in Q4 2021, highlighting challenges in the latter part of the year[22] Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥1.76 per 10 shares, totaling ¥451.05 million, which accounts for 30.98% of the net profit attributable to shareholders[4] - The company will not conduct capital reserve transfers to increase share capital or issue bonus shares for the year[4] - The company has a cash dividend policy that stipulates a minimum distribution of 30% of the distributable profits attributable to shareholders, provided certain conditions are met[163] - The company’s profit distribution policy emphasizes stability and continuity, considering the interests of all shareholders while ensuring sustainable development[162] Operational Efficiency and Production - The company successfully launched its ERP platform, enhancing its digital transformation and operational efficiency[29] - The production of steel reached 1,929 million tons in 2021, indicating strong operational performance despite external pressures[29] - The company has a total ironmaking capacity of 10.17 million tons and a steelmaking capacity of 12.5 million tons, with no current construction projects underway[36] - The company’s rolling capacity is 9 million tons, with no in-progress construction projects[36] - The company aims to maximize product efficiency by optimizing regional resource allocation based on market conditions[40] - The company is actively integrating R&D, production, and sales to enhance the production and sales volume of high-value-added products[38] Cost and Expense Management - The company’s total liabilities increased by 28.48% to 45.99 billion RMB, resulting in a debt-to-asset ratio of 63.39%[47] - The management expenses rose by 81.21% to 1.09 billion RMB, primarily due to increased labor costs[48] - The company’s financial expenses surged by 563.74% to 629.71 million RMB, attributed to the end of capitalized interest during the construction phase of its subsidiary[48] - Total cost for the current period reached ¥81,879,028,335.64, a 72.90% increase compared to ¥47,357,335,389.95 in the same period last year[61] - Raw material costs for steel and steel billets amounted to ¥50,982,072,400.87, accounting for 62.27% of total costs, with a year-on-year increase of 68.11%[61] Environmental and Sustainability Initiatives - The company has committed to reducing carbon emissions and pollution, with a detailed low-carbon development plan and a roadmap for carbon peak and reduction[100] - The company reported a total carbon dioxide emission of 22,760,576 tons, with no exceedance of emission standards[182] - The company invested CNY 40 million in a desulfurization and denitrification system, which is expected to reduce sulfur dioxide emissions by approximately 70 tons and nitrogen oxides by about 500 tons annually[186] - The company has established four industrial wastewater treatment stations, recovering and reusing over 50 million tons of water annually, enhancing both economic and social benefits[186] - The company has committed to achieving ultra-low emission standards in its operations, with specific projects aimed at reducing emissions from various production processes[186] Governance and Compliance - The company emphasizes the importance of corporate governance and compliance with regulations to protect shareholder rights and ensure independent operations of its board and management[106] - The company has established a clear "Related Party Transaction Management System" to ensure fairness and transparency in transactions with related parties, safeguarding the interests of the company and all shareholders[108] - The board of directors strictly adheres to the "Rules of Procedure for Board Meetings," ensuring compliance with shareholder resolutions and maintaining a transparent election process for directors[108] - The company has conducted self-evaluations of its internal control system for 2020, completing a report that was reviewed by the supervisory board and independent directors, ensuring compliance and operational integrity[108] Strategic Outlook and Future Plans - Future strategies include enhancing production efficiency and expanding market presence through potential mergers and acquisitions[88] - The company plans to enhance its competitive edge in the steel industry by optimizing product structure and promoting low-cost manufacturing, while also focusing on digital transformation and smart manufacturing[95] - The company is exploring potential mergers and acquisitions to facilitate growth and market expansion[125] - The company is actively engaging in the development of new technologies and products to enhance its competitive edge in the steel industry[125] Employee Management and Development - The company has a total of 16,379 employees, with 10,544 in the parent company and 5,835 in major subsidiaries[152] - The company maintains a performance-oriented compensation policy, ensuring competitive salary levels that are closely linked to company performance and individual skills[156] - The company has implemented a comprehensive employee training plan to enhance knowledge and skills, with various training methods including internal training and online learning platforms[157] - The company has approved a pension plan aimed at improving employee retirement benefits and enhancing talent retention[150]

Financial Performance - The company's operating revenue for 2020 was approximately ¥54.69 billion, an increase of 12.49% compared to ¥48.62 billion in 2019[24]. - The net profit attributable to shareholders for 2020 was approximately ¥1.72 billion, a decrease of 26.63% from ¥2.34 billion in 2019[24]. - The company reported a net profit attributable to shareholders of ¥1.70 billion for 2020, reflecting a decrease of 26.83% from the previous year[24]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, for 2020 was CNY 4,885,387,069.19, a decrease of 35.75% compared to the previous year[27]. - The basic earnings per share for 2020 was CNY 0.91, down 26.38% from CNY 1.79 in 2019[27]. - The weighted average return on equity decreased to 19.87% in 2020, down 6.90 percentage points from 2019[27]. - The company's operating revenue reached 54.69 billion RMB, an increase of 12.49% compared to the previous year, while operating costs rose to 50.41 billion RMB, reflecting a 14.90% increase[61]. - The net profit for the year was 1.76 billion RMB, successfully meeting the targets set by the board of directors[55]. - The total assets at the end of 2020 reached CNY 60,594,790,328.17, representing a 19.05% increase from the end of 2019[27]. - The total assets of the company amounted to 60.60 billion RMB, a year-on-year increase of 19.05%, while total liabilities reached 35.71 billion RMB, up 28.97%[56]. Dividends and Shareholder Returns - The proposed cash dividend is ¥2.5 per 10 shares, totaling approximately ¥640.70 million, which represents 37.28% of the net profit attributable to shareholders[7]. - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares, totaling 640,698,300 RMB, which represents 37.28% of the net profit attributable to shareholders for 2020[113]. - The company will prioritize cash dividends, distributing at least 30% of the distributable profit to shareholders annually, barring special circumstances[108]. - The company has a continuous and stable profit distribution policy, emphasizing reasonable returns to investors and sustainable development[107]. Market and Industry Trends - The company is currently facing potential risks related to industry trends and unfavorable factors[9]. - In 2020, China's crude steel production reached 1.065 billion tons, a year-on-year increase of 7.0%[43]. - The average sales profit margin for the steel industry was 4.41% in 2020, a decrease of 0.18 percentage points year-on-year[47]. - Steel exports from China fell by 16.5% in 2020, while imports surged by 64.4%[44]. - The steel industry is expected to undergo significant changes in 2021, with stricter regulations on production capacity and environmental oversight[47]. - The expected total demand for steel in China for 2021 is projected to reach 1.1 billion tons, marking a new high[99]. Production and Capacity - The company has a pig iron production capacity of 11.46 million tons and a steel production capacity of 12.5 million tons, with no ongoing construction projects[40]. - In 2020, the company achieved production volumes of 13.71 million tons of iron, 15.30 million tons of steel, and 9.62 million tons of steel products, representing year-on-year growth of 10.03%, 11.92%, and 18.91% respectively[55]. - The company aims to produce 12 million tons of iron and 13.8 million tons of steel in the upcoming year[101]. Research and Development - The company has established a comprehensive "research-learning-production-sales-usage" innovation system to enhance product development capabilities[41]. - Research and development expenses increased by 10.80% to 1.55 billion RMB, reflecting the company's commitment to technological innovation[60]. - The company aims to develop 14 new high-end steel grades, with a target of over 60% for specialty steel ratio in the annual product mix[104]. - The company will implement over 10 new technologies and processes to enhance operational efficiency and product quality[104]. Environmental and Safety Initiatives - The company has been recognized for its environmental efforts, completing six ultra-low emission transformation projects and being selected as a "green factory" by the Ministry of Industry and Information Technology[55]. - The company is committed to achieving carbon peak and carbon neutrality goals, aligning with national policies and directives[162]. - The company has established a solid waste management system, including recycling processes for iron oxide scale and furnace ash, to minimize solid waste generation[162]. - The company completed environmental impact assessments for several projects in 2020, including flue gas recovery and desulfurization projects[166]. - The company is committed to maintaining zero major safety and environmental incidents in its operations[101]. Governance and Compliance - The company ensures that all directors, supervisors, and senior management are elected in strict accordance with the Company Law and Articles of Association, with no interference in personnel decisions[121]. - The company has established an independent financial department with dedicated personnel and a separate accounting system, ensuring independent financial decision-making[121]. - The company commits to maintaining the independence of the listed company, ensuring no cross-relationships in labor, compensation, and management with other controlled entities[121]. - The company has maintained a good integrity record over the past five years, with no significant legal penalties or major civil litigation[120]. Legal Matters - The company is involved in significant litigation matters, including a lawsuit against Huaxia Bank involving an amount of 1,700.00 million RMB[136]. - The company has ongoing litigation related to a loan contract dispute with Nangu Steel, claiming damages of 1,550.47 million RMB[139]. - Another lawsuit involves a construction payment dispute with Guangxi Steel Group, with a claimed amount of 5,617.50 million RMB[139]. - The company has faced a lawsuit regarding historical debt issues with Jingxin Source National Energy Technology Group, with no resolution reached[141]. Future Outlook and Strategy - The overall outlook for the company remains positive, with expectations of continued growth in the coming quarters[199]. - Future growth strategies include market expansion and potential mergers and acquisitions to enhance competitive positioning[199]. - The company is exploring opportunities in international markets to diversify revenue streams and mitigate risks[199]. - The management has indicated a commitment to enhancing shareholder value through effective capital allocation strategies[199].

2021 年第三季度报告 单位：元 币种：人民币 1 / 15 证券代码：601003 证券简称：柳钢股份 柳州钢铁股份有限公司 2021 年第三季度报告 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个别及连带责任。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------|-----------------|-------------|-------------------|-------------------------------------------------------|----- ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 23,003,576,042.75, representing a year-on-year increase of 76.25%[20] - The net profit attributable to shareholders of the listed company reached CNY 780,731,758.35, an increase of 141.77% compared to the same period last year[20] - The net cash flow from operating activities was CNY 57,253,096.20, showing a significant increase of 1,247.10% year-on-year[20] - Basic earnings per share for the first half of 2021 were CNY 0.74, up 146.67% from the same period last year[23] - The net profit for the first half of 2021 was ¥2,693,654,174.96, up from ¥790,303,259.54 in the same period of 2020, indicating a growth of approximately 241.5%[155] - The total comprehensive income for the period was CNY 2,693,654,174.96, compared to CNY 790,303,259.54 in the same period last year, indicating a substantial increase[161] Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 60,594,790,328.17, reflecting a year-on-year growth of 15.85%[20] - The total assets increased to ¥70,199,356,286.82, up from ¥60,594,790,328.17, representing a growth of approximately 16.5% year-over-year[145] - Total liabilities reached ¥43,258,341,400.00, up from ¥35,712,019,765.55, which is an increase of about 21.5%[145] - Current liabilities rose to ¥26,248,745,741.65, up from ¥19,337,789,971.71, reflecting a significant increase of approximately 35.5%[145] Production and Capacity - The company has a total iron production capacity of 10.17 million tons and steel production capacity of 12.5 million tons, with no ongoing construction projects[35] - The company’s main products include high-strength steel plates and rebar, widely used in various industries such as machinery manufacturing and construction[29] - The company has a diverse product range with over 500 varieties, including high-strength steel plates and ribbed steel bars, catering to various industries[43] Market Position and Strategy - The company ranked 209th in the 2021 Fortune China 500 list and 15th among publicly listed steel companies in China[29] - The company is positioned as a major steel producer in South China and Southwest China, with a strong market presence in Southeast Asia and Europe[29] - The company anticipates a decline in industrial product demand in the second half of 2021 due to macroeconomic adjustments and increased inflation pressure[28] Environmental and Sustainability Efforts - The company maintained a zero environmental pollution incident rate, with 100% compliance in industrial wastewater and gas emissions testing[55] - The company has implemented a solid waste management system, ensuring compliance and effective management of hazardous waste, with no environmental safety incidents reported in the first half of 2021[82] - The company has built over 335 sets of waste gas treatment facilities, achieving ultra-low emission standards for dust, SO2, and NOx across its production processes[79] Research and Development - Research and development expenses surged to ¥1.51 billion, marking a 203.96% increase compared to the previous year, with a focus on technological innovation[55] - The company has established a comprehensive "research-learning-production-sales-usage" innovation system, enhancing its R&D capabilities through collaborations with various universities and companies[36][38] Shareholder and Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6] - The company guarantees that there will be no cross-relationships in labor, personnel, and salary management between the listed company and other enterprises controlled by the company[98] - The company has established an independent financial department and accounting system to ensure financial independence and decision-making capabilities[98] Related Party Transactions - The company has significant related party transactions, including purchasing goods from Guangxi Liuzhou Steel Group for CNY 1,535,213.65 thousand, accounting for 84.64% of similar transactions[109] - The company has ongoing arbitration with Guangxi Steel Group regarding historical debt issues, with a claim amount of CNY 495.19 thousand, and the case is currently under trial[109] Community Engagement - The company completed the selection and recommendation of three cadres for the new round of rural revitalization work in Guangxi, with a focus on poverty alleviation efforts[92] - The company provided New Year supplies to over 400 households in the designated poverty alleviation village of Mijiang, Upasi County[92] - The company received the "China Red Cross Contribution Medal" for its outstanding contributions to COVID-19 prevention and control efforts[92]

证券代码：601003 证券简称：柳钢股份 公告编号：2021-024 柳州钢铁股份有限公司 关于参加投资者网上集体接待日活动的公告 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个别及连带责任。 为进一步加强与投资者的互动交流，柳州钢铁股份有限公司（以下简称"公 司"）将参加由广西上市公司协会、深圳市全景网络有限公司共同举办的"2021 年广西地区上市公司投资者网上集体接待日活动"，现将有关事项公告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互联网平台举 行，投资者可以登陆"全景·投资者关系互动平台"网站（http：//ir.p5w.net） 参与公司本次投资者集体接待日活动，活动时间为 2021 年 5 月 21 日（星期五） 15:30 至 17:00。 届时公司董事、总经理覃佩诚先生，总会计师唐皓烨女士将通过网络在线问 答互动的形式，与投资者就公司治理、发展经营情况、融资情况和可持续发展等 投资者关注的问题进行交流。期间，公司高管将全程在线，通过全景网投资者关 系互动平台实时回答投资者的提问。 欢迎广大投资者积极 ...

Financial Performance - The company's operating revenue for 2020 was approximately ¥54.69 billion, an increase of 12.49% compared to ¥48.62 billion in 2019[24]. - The net profit attributable to shareholders for 2020 was approximately ¥1.72 billion, a decrease of 26.63% from ¥2.34 billion in 2019[24]. - The company reported a net profit attributable to shareholders of ¥1.70 billion for 2020, reflecting a decrease of 26.83% from the previous year[24]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, for 2020 was CNY 2,605,576,964.41, a decrease of 35.75% compared to the previous year[27]. - The basic earnings per share for 2020 was CNY 0.91, down 26.38% from CNY 1.79 in 2019[27]. - The weighted average return on equity decreased by 8.63 percentage points to 15.95% in 2020[27]. - The company's operating revenue for 2020 was CNY 54.694 billion, an increase of 12.49% compared to the previous year, while operating costs rose to CNY 50.411 billion, reflecting a 14.90% increase[61]. - The net profit for the year was CNY 1.764 billion, indicating a stable performance despite challenges posed by the pandemic[55]. - The total assets of the company reached CNY 60.595 billion, a year-on-year increase of 19.05%, while total liabilities grew by 28.97% to CNY 35.712 billion[56]. Dividends and Share Capital - The proposed cash dividend is ¥2.5 per 10 shares, totaling approximately ¥640.70 million, which represents 37.28% of the net profit attributable to shareholders[7]. - The company did not conduct capital reserve transfers to increase share capital or issue bonus shares in 2020[7]. - The company will not issue new shares or stock dividends for the year 2020[113]. - The company emphasizes a cash dividend policy, distributing at least 30% of the distributable profit to shareholders annually, barring special circumstances[108]. - The company has a continuous and stable profit distribution policy, prioritizing cash dividends while considering the interests of all shareholders[107]. Operational Highlights - The company is a core subsidiary of Liugang Group, focusing on steel production and serving markets in Southeast Asia, Europe, and Africa[35]. - The company’s main products include low-alloy plates, rebar, and high-quality wire rods, which are widely used in various industries[35]. - The company did not report any significant changes in its main business operations during the reporting period[35]. - The company has a pig iron production capacity of 11.46 million tons and a steel production capacity of 12.5 million tons, with no ongoing construction projects[40]. - The company completed a capital increase to gain controlling interest in Guangxi Steel, enhancing its product line with high-end steel varieties[48]. - The company aims to expand its market presence through strategic partnerships and product innovation, focusing on high-strength automotive and home appliance steel[48]. - The company aims to produce 12 million tons of iron and 13.8 million tons of steel in the upcoming year[100]. Research and Development - The company has established a comprehensive R&D system, collaborating with universities and research institutions to enhance product development capabilities[41]. - Research and development expenses increased by 10.80% to CNY 1.550 billion, reflecting the company's commitment to technological innovation[60]. - The company aims to develop 14 new high-end steel grades, with a target of over 60% for high-strength steel ratio in the product mix for the year[104]. - The company will implement over 10 new technologies and processes to enhance operational efficiency and product quality[104]. - The company is focusing on technological innovation to strengthen core technologies and products with independent intellectual property rights[99]. Environmental and Safety Initiatives - The company has made significant progress in energy management, achieving a total energy consumption of 7.5826 million tons of standard coal, with a comprehensive energy consumption of 534.21 kg of standard coal per ton of steel[50]. - The company completed six ultra-low emission transformation projects during the year and was recognized as a "green factory" by the Ministry of Industry and Information Technology[55]. - The company is committed to maintaining zero major safety and environmental incidents in its operations[100]. - The company has established over 200 sets of waste gas treatment facilities, achieving ultra-low emission standards for dust, SO2, and NOx[162]. - The company has implemented measures to manage hazardous waste effectively, with no environmental safety incidents reported in 2020[162]. Market Trends and Industry Insights - In 2020, China's crude steel production reached 1.065 billion tons, a year-on-year increase of 7.0%[43]. - The average sales profit margin for the steel industry was 4.41%, a decrease of 0.18 percentage points year-on-year[47]. - In 2020, the total sales revenue of key steel enterprises was 4.7033 trillion yuan, a year-on-year increase of 10.86%[45]. - Steel exports from China decreased by 16.5% in 2020, while imports increased by 64.4%[44]. - The expected total demand for steel in China for 2021 is projected to reach 1.1 billion tons, marking a new high[99]. Financial Management and Governance - The company has established an independent financial department with dedicated personnel and a separate accounting system, ensuring independent financial decision-making and tax obligations[121]. - The company commits to maintaining the independence of the listed company, ensuring no cross-relationships in labor, compensation, and management with other controlled enterprises[121]. - The company has pledged to minimize related party transactions with the listed company to protect its interests and those of other shareholders[121]. - The company has appointed Tianzhi International Accounting Firm for the 2020 financial audit, with an audit fee of 700,000 RMB[133]. - The company reported no significant accounting errors or changes in accounting policies during the reporting period[132]. Legal Matters - The company is involved in significant litigation matters, including a lawsuit against Huaxia Bank involving an amount of 1,700,000 RMB[136]. - The company has initiated a recovery lawsuit against Nanguiz Steel Company for losses incurred from a loan contract dispute, with a claim amount of 1,550,470 RMB[139]. - The company is also pursuing claims against Guangxi Steel Group for a construction payment dispute, amounting to 5,617,500 RMB[139]. - The company has ongoing litigation related to historical debt issues with Jingxin Source National Energy Technology Group, with no resolution reached yet[141]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 47,513, an increase from 42,616 at the end of the previous month[6]. - The largest shareholder, Guangxi Liuzhou Iron and Steel Group Co., Ltd., held 1,910,963,595 shares, representing 74.57% of the total shares[7]. - The company’s bond credit rating was rated AAA by Shanghai New Century Confidence Assessment Investment Service Co., Ltd.[5]. - The company has no strategic investors or general legal entities among the top ten shareholders[191]. - The company does not have any preferred shareholders with voting rights[183].

2021 年第一季度报告 公司代码：601003 公司简称：柳钢股份 柳州钢铁股份有限公司 2021 年第一季度报告 1 / 25 2021 年第一季度报告 一、 二、 11Í 四、 | --- | |----------------| | 目录 | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 25 2021 年第一季度报告 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 公司负责人陈有升、主管会计工作负责人唐皓烨及会计机构负责人（会计主管人员）唐皓烨 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |------------------------------------------------|---------- ...

Financial Performance - Operating revenue for the period was approximately CNY 10.69 billion, an increase of 4.16% year-on-year[12] - Net profit attributable to shareholders was approximately CNY 164.43 million, a decrease of 57.15% compared to the same period last year[12] - Basic earnings per share were CNY 0.0642, down 57.11% from CNY 0.1497 in the previous year[12] - The company's net profit after deducting non-recurring gains and losses was approximately CNY 157.58 million, a decrease of 58.22% year-on-year[12] - Net profit decreased by 57.30% to 0.164 billion CNY, mainly due to a decline in steel prices and an increase in raw material costs[26] - The net profit for Q1 2020 was approximately ¥164.43 million, a decrease from ¥383.70 million in Q1 2019, representing a decline of about 57%[44] - The total comprehensive income for Q1 2020 was ¥164.43 million, down from ¥383.70 million in the same period last year, indicating a decrease of approximately 57%[44] - Basic and diluted earnings per share for Q1 2020 were both ¥0.0642, compared to ¥0.1497 in Q1 2019, reflecting a decline of about 57%[44] Cash Flow - Net cash flow from operating activities was negative CNY 383.77 million, compared to positive CNY 1.40 billion in the same period last year[12] - Cash flow from operating activities for Q1 2020 showed a net outflow of approximately ¥383.77 million, contrasting with a net inflow of ¥1.40 billion in Q1 2019[48] - Cash inflow from operating activities totaled approximately ¥6.79 billion in Q1 2020, slightly up from ¥6.74 billion in Q1 2019, marking an increase of about 0.8%[48] - Cash outflow from operating activities reached approximately ¥7.17 billion in Q1 2020, compared to ¥5.34 billion in Q1 2019, representing an increase of about 34.4%[48] - Cash flow from financing activities in Q1 2020 resulted in a net inflow of approximately ¥653.42 million, a significant improvement compared to a net outflow of ¥1.56 billion in Q1 2019[48] - The ending cash and cash equivalents balance for Q1 2020 was approximately ¥2.71 billion, down from ¥5.73 billion at the end of Q1 2019[48] - The company reported cash outflows for investment activities of approximately ¥457.25 million in Q1 2020, compared to ¥9.65 million in Q1 2019, indicating a significant increase in investment spending[48] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 25.91 billion, a decrease of 2.00% compared to the end of the previous year[12] - The company's total assets as of March 31, 2020, were CNY 25,914,966,514.88, a decrease from CNY 26,445,650,684.75 at the end of 2019[40] - Total liabilities decreased to CNY 14,406,207,094.56 in Q1 2020 from CNY 15,102,315,390.88 in Q1 2019, reflecting a reduction of 4.61%[40] - Cash and cash equivalents were CNY 2,947,005,793.43 as of March 31, 2020, down from CNY 3,512,775,140.59 in Q1 2019, a decline of 16.08%[40] - Inventory increased to CNY 6,736,776,155.53 in Q1 2020, compared to CNY 6,470,419,899.95 in Q1 2019, marking an increase of 4.13%[40] - Short-term borrowings rose to CNY 3,179,288,474.91 in Q1 2020, up from CNY 2,355,097,489.36 in Q1 2019, an increase of 35.00%[40] - The company has a contract liability of $742.34 million, indicating future revenue obligations[54] - The company holds a deferred income of $71.43 million, reflecting future income recognition[54] Shareholder Information - The total number of shareholders at the end of the reporting period was 51,959[19] - The largest shareholder, Guangxi Liuzhou Steel Group Co., Ltd., held 74.57% of the shares[19] - The company's retained earnings as of March 31, 2020, were CNY 6,798,672,696.53, an increase from CNY 6,634,246,612.55 in Q1 2019[42] - The total equity attributable to shareholders increased to CNY 11,508,759,420.32 in Q1 2020 from CNY 11,343,335,293.87 in Q1 2019, reflecting a growth of 1.46%[42] Research and Development - Research and development expenses increased by 108.55% to 0.244 billion CNY, reflecting the company's commitment to new technology and product innovation[26] - Research and development expenses increased to CNY 244,041,681.14 in Q1 2020, up from CNY 116,709,031.54 in Q1 2019, representing a growth of 108.73%[42] Operational Challenges - The company faced challenges in raw material procurement due to strict pandemic control measures, but has managed to maintain normal production levels[33] - Sales pressure increased due to project suspensions during the pandemic, leading to inventory buildup[33] - The company will closely monitor market dynamics and prepare contingency plans in response to ongoing global pandemic impacts[33] - The company plans to optimize its steel production layout by relocating capacity to coastal areas, in line with national policies on reducing excess capacity[26] Legal Matters - The company successfully recovered 18.5656 million CNY from a legal dispute with Huaxia Bank, following a favorable court ruling[29]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥23,003,405,228.71, a 0.55% increase compared to ¥22,877,773,678.50 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 38.93% to ¥772,633,883.15 from ¥1,265,197,321.77 year-on-year[23]. - The net cash flow from operating activities was ¥210,785,803.14, down 92.29% from ¥2,734,170,168.87 in the previous year[23]. - The total assets at the end of the reporting period were ¥26,613,463,694.22, a 0.63% increase from ¥26,445,650,684.75 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased by 3.38% to ¥10,959,401,221.95 from ¥11,343,335,293.87 at the end of the previous year[23]. - Basic earnings per share for the first half of 2020 were ¥0.3015, a decrease of 38.93% from ¥0.4937 in the same period last year[24]. - The weighted average return on net assets was 6.70%, down 4.64 percentage points from 11.34% in the previous year[26]. - The total comprehensive income for the first half of 2020 was ¥772,633,883.15, a decrease from ¥1,265,197,321.77 in the same period of 2019, representing a decline of approximately 39%[135]. Operational Capacity - The company has a total ironmaking capacity of 11.5 million tons, with 1 high furnace of 2650m³, 2 high furnaces of 2000m³, 3 high furnaces of 1500m³, and 1 high furnace of 1250m³[36]. - The steelmaking capacity is 12.5 million tons, consisting of 5 converters of 150 tons and 3 converters of 120 tons[36]. - The rolling capacity is 9 million tons, including various rolling mills for medium and thick plates, section steel, and high-speed wire rods[36]. Market Position and Strategy - The company remains a key player in the steel industry, focusing on the production of medium and thick plates, small and medium profiles, and steel billets[29]. - The company has a significant market presence in South China and East China, with products exported to over 10 countries and regions[32]. - The company plans to leverage the location advantage of its Fangchenggang steel base to expand into ASEAN markets[31]. - The company aims to optimize resource allocation and deepen strategic cooperation with import traders and domestic suppliers to match its large-scale procurement needs[37]. Research and Development - The company has established a comprehensive "research-learning-production-sales-usage" innovation system to enhance product R&D capabilities[36]. - The company successfully developed 11 new high-end products, increasing the proportion of specialty steel to 61.9%, generating a profit of ¥392 million[49]. - Research and development expenses decreased by 11.91% to approximately ¥496.96 million from ¥564.13 million in the previous year[58]. Environmental Initiatives - The company has made significant investments in environmental projects, improving its ecological footprint and promoting green steel production[52]. - The total carbon dioxide emissions were reported at 11,697,336 tons, with no exceedance of emission standards[94]. - The company has established four industrial wastewater treatment stations, recycling over 52 million tons of treated wastewater, significantly improving the comprehensive utilization rate of wastewater[95]. - The company has installed 159 sets of silencers to reduce noise pollution, with quarterly monitoring ensuring that boundary noise levels remain within standard values[95]. Financial Position - Cash and cash equivalents decreased by 50.42% to ¥229,635.03 million, accounting for 8.63% of total assets, primarily due to the maturity of acceptance bills and increased accounts payable[59]. - Accounts receivable decreased by 74.30% to ¥8,737.26 million, representing 0.33% of total assets, mainly due to revenue execution in the current period[59]. - Inventory increased by 44.18% to ¥703,655.69 million, accounting for 26.44% of total assets, primarily due to an increase in raw material stock[61]. - Short-term borrowings rose by 38.44% to ¥352,719.54 million, representing 13.25% of total liabilities, indicating an increase in short-term financing[61]. Legal and Compliance - 柳钢股份在诉讼中涉及金额为1,700万元，案件类型为票据纠纷，南宁中院已作出终审判决[78]. - 另一项诉讼涉及金额为1,550.47万元，因合同纠纷，柳北区法院已作出判决[78]. - 报告期内公司无重大诉讼、仲裁事项[78]. Governance and Management - The company has undergone changes in its board members, with several resignations and new appointments to enhance governance[116]. - The report indicates that there are no changes in the controlling shareholder or actual controller[116]. - The company has not issued any preferred shares or undergone any strategic investments that would affect the top ten shareholders[116].