Financial Performance - Total assets decreased from RMB 72.53 billion in 2021 to RMB 71.41 billion in 2022, a decline of 1.54%[3] - Revenue for 2022 decreased to 51,075,036,914.20 RMB from 60,960,757,170.65 RMB in 2021, representing a decline of approximately 16.2%[8] - Net profit for 2022 was -3,534,292,991.28 RMB, compared to a net profit of 2,297,836,819.93 RMB in 2021, indicating a significant loss[7] - Operating profit for 2022 was -4,255,310,454.68 RMB, a sharp decline from 2,366,696,357.71 RMB in 2021[7] - Total comprehensive income for 2022 was -3,534,292,991.28 RMB, a significant decline from 2,297,836,819.93 RMB in 2021[7] - The company's total revenue for the reporting period was 80.725 billion yuan, a year-on-year decrease of 12.94%[19] - The company's net profit attributable to shareholders was -1.333 billion yuan, a significant decrease compared to the previous year[15] - Net loss attributable to shareholders in 2022 was RMB 2.342 billion[145] - No cash dividend distribution or capital reserve conversion proposed for 2022 due to negative net profit[145] Asset and Liability Changes - Inventory decreased significantly from RMB 16.48 billion in 2021 to RMB 8.40 billion in 2022, a reduction of 49.03%[3] - Fixed assets increased from RMB 35.70 billion in 2021 to RMB 37.48 billion in 2022, an increase of 4.99%[3] - Short-term borrowings decreased from RMB 5.98 billion in 2021 to RMB 2.39 billion in 2022, a reduction of 60.00%[3] - Long-term borrowings increased from RMB 15.71 billion in 2021 to RMB 20.36 billion in 2022, an increase of 29.61%[3] - Total current liabilities decreased from RMB 28.95 billion in 2021 to RMB 27.14 billion in 2022, a decline of 6.25%[3] - Deferred tax assets increased significantly from RMB 214.57 million in 2021 to RMB 889.30 million in 2022, an increase of 314.42%[3] - Total non-current assets increased from RMB 44.83 billion in 2021 to RMB 48.11 billion in 2022, an increase of 7.31%[3] - Total liabilities increased from RMB 44.66 billion in 2021 to RMB 47.28 billion in 2022, an increase of 5.87%[3] - Total equity decreased from RMB 27.87 billion in 2021 to RMB 24.13 billion in 2022, a decline of 13.42%[3] - Total assets at the end of 2022 were 71.412 billion RMB, a decrease of 1.54% compared to 72.533 billion RMB at the end of 2021[69] - Total liabilities at the end of the reporting period were 48.85 billion yuan, a year-on-year increase of 6.22%[34] Production and Sales - The company's total ironmaking capacity is 10.17 million tons, with no capacity under construction[17] - The company's total steelmaking capacity is 12.5 million tons, with no capacity under construction[18] - The company's total rolling capacity is 9 million tons, with no capacity under construction[18] - The company's medium plate production increased by 13.91% year-over-year to 1.6212 million tons, with sales increasing by 12.65% to 1.6092 million tons[24] - Cold-rolled steel strip production rose by 7.50% to 1.2102 million tons, with sales up 6.89% to 1.1866 million tons[24] - Hot-rolled steel strip production surged by 58.65% to 1.955 million tons, with sales increasing by 59.29% to 1.939 million tons[24] - Galvanized steel strip production and sales both increased by 98.29% to 724,400 tons[24] - Steel billet production decreased by 16.57% to 5.7298 million tons, with sales down 16.87% to 5.7105 million tons[24] - Iron, steel, and finished product production in 2022 were 15.03 million tons, 17.57 million tons, and 11.83 million tons, respectively, with year-on-year changes of -11.78%, -8.89%, and -4.16%[34] - Iron production target: 18.9 million tons[103] - Steel production target: 22.7 million tons[103] - Steel product production target: 17.81 million tons (including cold-rolled base plates)[103] Costs and Expenses - Raw material costs for steel and steel billets accounted for 61.06% of total costs, a decrease of 5.94% compared to the previous year[26] - Fuel and power costs for steel and steel billets increased by 5.47% to 15.2699 billion yuan, accounting for 19.45% of total costs[26] - Depreciation costs for steel and steel billets rose significantly by 41.81% to 2.0237 billion yuan, making up 2.58% of total costs[26] - Hot-rolled steel strip raw material costs increased by 45.76% to RMB 5.42 billion, accounting for 6.90% of total costs[27] - Galvanized steel strip raw material costs surged by 73.62% to RMB 2.16 billion, representing 2.75% of total costs[27] - R&D expenses for 2022 decreased to 361,849,883.36 RMB from 962,426,693.10 RMB in 2021, reflecting a reduction of approximately 62.4%[8] - Financial expenses for 2022 increased to 515,220,915.92 RMB from 157,768,454.43 RMB in 2021, indicating a rise of approximately 226.5%[8] - Interest expenses for 2022 were 518,454,967.57 RMB, up from 319,440,405.73 RMB in 2021[8] - Management expenses decreased by 9.44% year-on-year, mainly due to reduced labor costs[44] - R&D expenses decreased by 41.38% year-on-year, primarily due to reduced investment in R&D materials[44] - Financial expenses increased by 74.71% year-on-year, mainly due to increased interest expenses on long-term loans and bonds, as well as increased exchange losses[44] Environmental and Sustainability - The company's industrial water recycling rate reached 98.3%, with over 51 million tons of wastewater regenerated annually[32] - The company's green initiatives include advanced wastewater treatment facilities and low-emission technologies, with a focus on sustainability[32] - Environmental protection investment in 2022 reached RMB 683.53 million[151] - CO2 emissions from Liuzhou Steel in 2022 totaled 18.29 million tons[152] - SO2 emissions from Liuzhou Steel in 2022 were 3,518.26 tons[152] - NOx emissions from Liuzhou Steel in 2022 reached 11,066.54 tons[152] - CO2 emissions from Guangxi Steel in 2022 totaled 10.72 million tons[153] - SO2 emissions from Guangxi Steel in 2022 were 3,293.31 tons[153] - The company has invested a total of 2500 million RMB in the A2 coal yard shed project, 5500 million RMB in the coke oven gas PDS full desulfurization capacity expansion project, 6500 million RMB in the ultra-low emission dust removal transformation of the No. 1 and No. 5 coke ovens, and 2200 million RMB in the No. 2 sintering machine tail finished product dust collector transformation[154] - The company has built four industrial wastewater treatment stations with an investment of 160 million RMB, recycling and reusing over 50 million tons of reclaimed water annually[154] - The company has installed a total of 137 sets of silencers to reduce noise pollution, with quarterly monitoring ensuring noise levels are within standard limits[157] - The company has completed environmental impact assessments for various projects, including the 1X135MW power generation project for blast furnace gas recovery and utilization, and the ultra-low emission transformation of the No. 2 360㎡ sintering system[158] - The company has conducted 47 pollution emergency drills in 2022, focusing on key processes such as coke tar and crude benzene leakage, oil spill, ammonia water leakage, radiation safety, and ship oil spill[160] - The company has established a comprehensive environmental pollution emergency response mechanism, including an emergency leadership organization and rescue teams, with clear responsibilities and procedures[160] - The company has implemented a self-monitoring program for environmental emissions, adhering to regulations such as the "Pollutant Discharge Permit Management Regulations" and the "Technical Guidelines for Self-Monitoring of Pollutant Discharge Units"[161] - The company has achieved significant CO2 reduction by utilizing waste heat, waste pressure, and surplus gas for power generation, with 40.18 billion kWh generated at the headquarters, accounting for 73.95% of total electricity consumption, and 30.46 billion kWh generated at Guangxi Steel, accounting for 84.38% of total electricity consumption[156] - The company has established a solid waste management system, including the "Solid Waste Management Measures" and the "Liugang Waste Classification and Disposal Implementation Rules," ensuring effective and compliant management of hazardous waste[155] - The company has implemented advanced energy-saving technologies, such as coke dry quenching power generation, sintering ring cooler waste heat recovery power generation, and blast furnace top TRT power generation, contributing to energy conservation and emission reduction[156] - The company reduced carbon dioxide equivalent emissions by 2,009,391 tons through measures such as coke dry quenching power generation, sintering ring cooler waste heat recovery power generation, and blast furnace top TRT power generation[162] - The company disclosed a separate Social Responsibility Report, available at http://www.sse.com.cn, detailing its ESG and sustainability efforts[162] - The company implemented 11 rural revitalization assistance projects and actively participated in various rural support activities, including industrial aid, consumption aid, and educational aid[162] Corporate Governance and Management - The company's total number of employees is 16,079, with 10,292 in the parent company and 5,787 in major subsidiaries[142] - The company's employee composition includes 12,367 production personnel, 146 sales personnel, 1,003 technical personnel, 136 financial personnel, and 1,369 administrative personnel[142] - The company's education level breakdown shows 296 employees with postgraduate degrees, 3,879 with bachelor's degrees, 7,848 with associate degrees, and 4,056 with high school or below[142] - The company paid a total of 271,370,405.50 yuan for labor outsourcing[144] - The company plans to apply for a comprehensive credit line of up to 36.9 billion yuan from financial institutions[141] - The company's 2021 financial statements were reviewed twice by the Audit Committee, confirming compliance with regulations and accurate reflection of financial status[140] - The company's training plan focuses on improving employee skills and career development through various methods, including online learning platforms[143] - The company's governance structure complies with the "Guidelines for Corporate Governance of Listed Companies" and there are no significant differences with regulatory requirements[139] - The company's controlling shareholder, Liugang Group, has committed to avoiding any business activities that compete with the company[139] - The company's Audit Committee held 4 meetings in 2022 to review financial reports and internal control evaluations[140] - The company held a total of 16 board meetings in 2022, including 4 nomination committee meetings to review and approve the qualifications of senior management and directors[130][135] - The company revised and improved various governance rules and systems, including the "Articles of Association", "Rules of Procedure for Shareholders' Meetings", "Rules of Procedure for Board Meetings", and "Independent Director Work System"[130][138] - The company focused on deepening enterprise reform, promoting effective investment, and building a green development brand to enhance core competitiveness and achieve high-quality development[137] - The company strictly complied with regulations to protect shareholder interests, ensure standardized operation of shareholders' meetings, and maintain independence of the board and supervisory committee[138] - The company's controlling shareholder fulfilled its obligations in good faith, did not interfere with company decisions, and all related-party transactions were conducted fairly and disclosed properly[138] - The company's board of directors confirmed that no violations were found in the preparation and review of the 2021 financial statements[167] - The company adjusted employee salaries in 2022 based on performance, market conditions, and the principle of sharing risks and rewards with employees[169] - The company's salary distribution is tilted towards key and technical positions, with low employee turnover rate[170] - The company has appointed Tianzhi International Accounting Firm (Special General Partnership) as its financial audit institution for 2022, with a total audit fee of 1 million RMB (700,000 RMB for financial audit and 300,000 RMB for internal control audit)[174] - The company has established a complete environmental management system and has obtained certification, strictly managing according to the system standards[178] - The company's controlling shareholder, Liugang Group, has made commitments to ensure the independence of the listed company in terms of assets, personnel, and finance[179] Related-Party Transactions - The company's total purchase amount from Guangxi Liugang International Trade Co., Ltd. reached 1,318,871.87 million yuan, accounting for 30.08% of similar transactions[182] - The purchase amount from Guangxi Liuzhou Iron and Steel Group Co., Ltd. was 398,146.37 million yuan, representing 43.20% of similar transactions[182] - The company purchased goods worth 341,029.62 million yuan from Zhigang Industrial Co., Ltd., accounting for 15.19% of similar transactions[182] - The purchase amount from Guangxi Liugang Zhongjin Stainless Steel Co., Ltd. was 335,549.71 million yuan, representing 47.15% of similar transactions[183] - The company's sales to Guangxi Liuzhou Iron and Steel Group Co., Ltd. amounted to 2,850,189.48 million yuan, accounting for 19.96% of similar transactions[183] - Sales to Guangxi Liugang Zhongjin Stainless Steel Co., Ltd. reached 227,211.35 million yuan, representing 38.74% of similar transactions[183] - The company's sales to Liuzhou Xinyou Chemical Co., Ltd. were 166,082.34 million yuan, accounting for 100% of similar transactions[183] - The purchase amount from Guangxi Liugang Environmental Protection Co., Ltd. was 32,070.20 million yuan, representing 100% of similar transactions[183] - The company's sales to Guangxi Liugang Environmental Protection Co., Ltd. amounted to 34,360.78 million yuan, accounting for 20.78% of similar transactions[183] - The purchase amount from Guangxi Liugang Logistics Co., Ltd. was 33,769.94 million yuan, representing 79.36% of similar transactions[183] Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period was 51,615[193] - The company issued corporate bonds with a total value of RMB 4 billion, with a single issuance of RMB 1 billion at an interest rate of 4.5%[192] - The largest shareholder, Guangxi Liuzhou Iron and Steel Group Co., Ltd., holds 74.57% of the company's shares[195] - The second-largest shareholder, Wang Wenhui, holds 8.08% of the company's shares, with 203,469,540 shares pledged[195] - Barclays Bank PLC holds 1.10% of the company's shares, with a total of 28,261,647 shares[195] - Hong Kong Securities Clearing Company Ltd. holds 0.99% of the company's shares, with a total of 25,311,682 shares[195] - The company's corporate bonds have a credit rating of AAA, with a maturity date of September 11, 2023[192] - The company's total share capital and equity structure remained unchanged during the reporting period[190] - The company's corporate bonds were approved by the China Securities Regulatory Commission under document number ZJXK (2020) 1378[192] - The company's corporate bonds are fixed-rate bonds with an annual interest payment[192] - The company issued corporate bonds with a total amount of 1,000,000,000 yuan, with an interest rate of 4.5%, and the principal will be repaid in one lump sum upon maturity[200] - The company paid interest to all holders of the "20 Liugang 01" bond for the period from September 11, 2021, to September 10, 2022[200] - The company's controlling shareholder is Guangxi Liuzhou Iron and Steel Group Co., Ltd., which holds 74.57% of the company's shares[198] - The company's actual controller is the State-owned Assets Supervision and Administration Commission of Guangxi Zhuang Autonomous Region[198] - The company's controlling shareholder, Guangxi Liuzhou Iron and Steel Group Co., Ltd., was established on July 1, 1958, and its main business includes steel rolling, mechanical processing and repair, cement manufacturing, mining, gas and oxygen production, and automobile cargo transportation[196] Innovation and Technology - The company successfully developed 24 new high-value-added products, including non-oriented silicon steel[48] - The company implemented the first 5G+ unmanned automatic molten iron tank capping system in China and the first unmanned mobile cloud warehouse in Guangxi[49] - The company is focusing on digital transformation and innovation, aiming to build a fully digitalized factory and enhance cooperation with internet leaders[112] - The company is optimizing its organizational structure and reducing management layers to improve efficiency and reduce costs[112] - The company is strengthening risk management, particularly in production safety, financial security, and trade risks[112] Remuneration and Shareholding - The total number

Financial Performance - The company's operating revenue for Q3 2022 was CNY 17.27 billion, a decrease of 29.70% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2022 was a loss of CNY 1.63 billion, a decline of 493.01% year-on-year[6]. - The basic earnings per share for Q3 2022 was a loss of CNY 0.64, down 493.01% from CNY 0.16 in the same period last year[8]. - The diluted earnings per share for Q3 2022 was also a loss of CNY 0.64, reflecting the same percentage decline as basic earnings[8]. - The company reported a net loss of CNY 4.01 billion for the first three quarters of 2022, compared to a net profit of CNY 3.55 billion in the same period of 2021[34]. - The company reported a net loss of CNY 1,387,137,093.00 for the current period, compared to a net profit of CNY 1,501,834,954.44 in the same period last year[50]. - The company's total comprehensive income for the period was CNY -1,387,137,093.00, compared to CNY 1,501,834,954.44 in the same period last year[50]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 7.11 billion, an increase of 1,777.28% compared to the same period last year[8]. - The company's cash and cash equivalents increased to CNY 9.74 billion from CNY 4.20 billion year-over-year, representing a growth of approximately 132.3%[23]. - Cash flow from operating activities generated a net inflow of CNY 7,333,755,858.87, compared to CNY 886,232,393.81 in the same period last year[54]. - The company's cash and cash equivalents at the end of the period were CNY 9,457,207,711.87, significantly higher than CNY 2,439,072,535.04 at the end of 2021[41]. - The cash inflow from financing activities totaled CNY 13,649,499,692.48, compared to CNY 11,365,352,802.58 in the previous year, indicating an increase of approximately 11.3%[41]. - The company reported a cash inflow from financing activities of CNY 9,309,499,692.48, an increase from CNY 7,942,979,350.96 in the same period last year[54]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 71.98 billion, a decrease of 0.76% from the previous year[8]. - As of September 30, 2022, the company's total assets amounted to CNY 71.98 billion, a slight decrease from CNY 72.53 billion at the end of 2021[23]. - The company's total liabilities reached CNY 28,757,452,763.59, an increase from CNY 23,339,127,321.12 in the previous year, indicating a rise of approximately 23.5%[47]. - The equity attributable to shareholders at the end of the reporting period was CNY 9.56 billion, down 23.92% from the previous year[8]. - The company's equity attributable to shareholders decreased to CNY 9.56 billion from CNY 12.57 billion, a decline of approximately 23.9%[29]. Operational Costs and Expenses - Total operating costs increased to CNY 66.35 billion, up 7.8% from CNY 61.81 billion in the previous year[30]. - The company incurred financial expenses of CNY 899.31 million, which is an increase of 82.5% compared to CNY 493.30 million in 2021[34]. - Research and development expenses were CNY 708.04 million, a decrease of 67.8% from CNY 2.20 billion in the previous year[34]. - The research and development expenses decreased to CNY 298,104,036.86 in 2022 from CNY 1,361,129,590.63 in 2021, showing a significant reduction[48]. - Sales expenses dropped to CNY 43.85 million, down 69.9% from CNY 145.60 million in the previous year[34]. Market Conditions and Strategic Outlook - The company attributed the significant decline in profits to fluctuations in steel prices and increased raw material procurement costs[15]. - The company has not disclosed any new product developments or market expansion strategies during this reporting period[23]. - Future outlook includes a focus on cost control and efficiency improvements to enhance profitability amidst challenging market conditions[34]. - The company's total assets and liabilities will be closely monitored for future strategic decisions and potential market expansions[34].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥45,092,315,017.52, representing a 9.94% increase compared to ¥41,014,404,142.16 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥956,806,104.35, a significant decline from ¥1,877,899,569.47 in the previous year[21]. - The net cash flow from operating activities was ¥5,126,160,022.95, showing a substantial increase of 564.65% compared to ¥771,258,747.53 in the same period last year[21]. - The total assets at the end of the reporting period were ¥72,674,500,594.80, a slight increase of 0.20% from ¥72,532,620,468.28 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 11.17% to ¥11,164,997,588.69 from ¥12,569,379,059.23 at the end of the previous year[21]. - The basic earnings per share for the first half of 2022 was -¥0.37, compared to ¥0.73 in the same period last year[22]. - The weighted average return on net assets was -8.06%, down from 15.16% in the previous year[22]. - The company reported a non-recurring loss of ¥18,316,883.34 from the disposal of non-current assets[25]. - The total impact of non-recurring gains and losses after tax and minority interests was ¥3,244,606.83[25]. - The company reported a significant reduction in sales expenses by 75.05%, down to ¥31.63 million from ¥126.75 million, attributed to decreased transportation and labor costs[47]. - The company reported a net loss of approximately ¥1.51 billion, compared to a net profit of ¥2.67 billion in the same period of 2021, representing a significant decline[150]. Market Conditions - The steel industry is facing severe market conditions, with a 60% year-on-year decline in construction machinery production and significant drops in automotive production and sales[28]. - The overall economic recovery in the steel market remains uncertain despite expected policy support and production adjustments by steel companies[28]. - The first half of 2022 saw China's GDP growth rate at 2.5%, indicating increased economic downward pressure[28]. - The company faces risks in the second half of the year due to global economic and political instability, domestic economic downturn, high upstream raw material prices, weakened downstream demand, and financing difficulties in the steel industry[59]. Production and Operations - The company has a total ironmaking capacity of 10.17 million tons and steelmaking capacity of 12.5 million tons, with no ongoing construction projects[34]. - The company produces over 500 varieties of products, including high-strength steel plates and rebar, serving various industries such as machinery manufacturing and energy transportation[28]. - The company has achieved a market share of over 95% in the shipbuilding steel plate market in the region[36]. - The company has implemented a procurement strategy that emphasizes low inventory and opportunistic purchasing to ensure supply efficiency[35]. - The company has developed a new generation TMCP process with rapid cooling capabilities, improving product quality[36]. - The company has successfully developed 10 new products, including high-grade hot-rolled steel bars and weather-resistant bridge steel, with a completion rate of 95% for key technical economic indicators[42]. Environmental Performance - The company’s environmental performance improved, with industrial wastewater compliance rate at 99.03% and industrial waste gas compliance rate at 99.97%[45]. - Liu Steel Co. has implemented over 335 sets of air pollution control facilities, achieving ultra-low emission standards for sulfur dioxide and particulate matter[76]. - The company has established a dedicated department for ecological environment management, focusing on green beautification and sustainable development[76]. - The company has completed environmental impact assessments for all projects, including a 135MW gas recovery power generation project and several ultra-low emission transformation projects[80]. - The company is committed to environmental protection, continuously increasing funding for ultra-low emissions transformation in the steel industry, contributing positively to local environmental quality[83]. Financial Management and Governance - The company has made changes in its board and management, including the election of new directors and the appointment of a new independent director[69]. - The company guarantees the independence of its assets, personnel, and financial management from its controlling shareholder[90]. - The company has established an independent financial department and accounting system, ensuring financial decision-making autonomy and compliance with tax obligations[92]. - The company has committed to minimizing related party transactions to protect the interests of minority shareholders[92]. - The company has a complete and independent corporate governance structure, ensuring the independence of its board and management from its controlling shareholders[92]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 46,375[109]. - The largest shareholder, Guangxi Liuzhou Steel Group Co., Ltd., holds 1,910,963,595 shares, representing 74.57% of the total shares[110]. - The top ten shareholders include various institutional investors, with the total shares held by the top ten shareholders amounting to a significant portion of the company's equity[110]. - The company has not experienced any changes in its share capital structure during the reporting period[108]. - There were no changes in the number of shares held by directors and senior management during the reporting period, except for a new holding of 16,100 shares by director Tan Shaodong[115]. Cash Flow and Liquidity - The company's current ratio at the end of the reporting period is 0.93, a decrease of 3.13% compared to the previous year-end[127]. - The quick ratio improved to 0.41, reflecting a 32.26% increase year-over-year[127]. - The net cash flow from operating activities was RMB 5.13 billion, significantly up from RMB 771.26 million in the first half of 2021[159]. - Cash received from operating activities was RMB 39.25 billion, an increase of 26.1% from RMB 31.14 billion in the first half of 2021[159]. - The total equity attributable to the parent company at the end of the period was approximately ¥7,741,555,957.50, with a total equity of ¥26,564,157,999.06[168]. Strategic Initiatives - The company aims to enhance cost reduction and efficiency improvement through a comprehensive reform initiative focused on benchmarking and collaboration across all departments[60]. - The company plans to strengthen the integration of purchasing, production, sales, inventory, and logistics to maximize production marginal benefits and reduce logistics costs[60]. - The company is committed to deepening cooperation and interaction between production, academia, and research to foster innovation[64]. - The company is focused on enhancing operational efficiency and internal management to stimulate vitality within the organization[63].

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].

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 - The company's operating revenue for Q3 2021 reached ¥24,563,626,071, representing a 73.33% increase compared to the same period last year[6] - Net profit attributable to shareholders was ¥415,828,577.09, a decrease of 9.62% year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥398,102,653.07, down 12.44% from the previous year[8] - The basic earnings per share for the period was ¥0.16, a decrease of 9.62% compared to the same period last year[8] - The weighted average return on equity was 3.14%, a decrease of 0.97 percentage points year-on-year[8] - Total operating revenue for the first three quarters of 2021 reached ¥65,108,087,799.77, a significant increase from ¥37,175,455,876.50 in the same period of 2020, representing an increase of approximately 75.4%[33] - Net profit for the third quarter of 2021 was ¥3,574,271,151.58, compared to ¥1,251,157,779.46 in the third quarter of 2020, reflecting a growth of about 186.5%[33] - Basic earnings per share for the third quarter of 2021 was ¥0.90, compared to ¥0.48 in the same quarter of 2020, an increase of 87.5%[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥72,549,656,212.56, an increase of 19.73% compared to the end of the previous year[8] - As of September 30, 2021, total assets reached CNY 72,549,656,212.56, an increase from CNY 60,594,790,328.17 at the end of 2020, reflecting a growth of approximately 19.5%[23] - Current assets totaled CNY 28,992,639,859.27, up from CNY 19,580,480,623.85, indicating a growth of about 47.5% year-over-year[23] - Total liabilities increased to CNY 43,338,626,070.30 from CNY 36,104,189,971.67, reflecting an increase of about 20.0%[27] - The total liabilities of the company rose to ¥44,724,975,131.56, up from ¥35,712,019,765.55, indicating a growth of about 25.6%[33] - The total equity attributable to shareholders increased to ¥13,442,609,901.00 from ¥11,769,987,995.53, representing an increase of approximately 14.2%[33] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥378,763,177.19, reflecting a significant increase of 149.73% year-on-year[8] - Cash generated from operating activities was ¥50,084,206,170.13 in 2021, compared to ¥31,348,561,874.10 in 2020, reflecting an increase of approximately 59.8%[35] - Operating cash inflow totaled CNY 52.64 billion, up from CNY 33.30 billion year-over-year, reflecting a growth of approximately 58%[39] - Operating cash outflow amounted to CNY 52.27 billion, compared to CNY 33.15 billion in the previous year, indicating a year-over-year increase of about 58%[39] - Net cash flow from operating activities was CNY 378.76 million, a significant increase from CNY 151.67 million year-over-year[39] - Cash flow from financing activities totaled CNY 11.37 billion, down from CNY 14.09 billion year-over-year, reflecting a decrease of about 19%[41] - Net cash flow from financing activities was CNY 2.56 billion, a decline from CNY 6.61 billion in the previous year[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,697, with the largest shareholder holding 74.57% of the shares[16] - The company reported an unallocated profit of approximately ¥7.00 billion, contributing to the overall equity position[46] - The total equity attributable to minority shareholders was approximately ¥13.11 billion, indicating a significant portion of equity held by non-controlling interests[46] Research and Development - Research and development expenses increased to ¥2,201,827,395.62 in 2021 from ¥830,960,851.33 in 2020, marking an increase of approximately 164.5%[33] Government Subsidies - The company received government subsidies amounting to ¥50,811,759.16 during the reporting period, related to energy-saving and employment support projects[11] Inventory and Borrowings - Inventory increased significantly to CNY 16,133,807,679.61 from CNY 9,184,424,196.86, representing an increase of approximately 75.5%[23] - Short-term borrowings rose to CNY 6,553,866,102.60, compared to CNY 2,786,958,919.58, marking an increase of about 134.5%[27] - Long-term borrowings stood at CNY 15,833,242,498.86, slightly up from CNY 15,057,100,000.00, indicating a growth of approximately 5.1%[27] Financial Expenses - The company reported a financial expense of ¥493,296,867.78, significantly higher than ¥19,399,712.82 in the previous year, indicating an increase of approximately 2441.5%[33] Accounting Standards - The company has implemented new accounting standards for leases, which will enhance transparency and provide more useful information to stakeholders[49]

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 - Operating revenue rose by 64.77% to CNY 17,609,306,356.13 year-on-year[12] - Net profit attributable to shareholders increased by 303.62% to CNY 663,651,666.23 compared to the same period last year[12] - Basic earnings per share increased by 333.33% to CNY 0.26 compared to CNY 0.06 in the same period last year[12] - The company reported a net profit excluding non-recurring gains and losses of CNY 641,263,914.01, up 306.95% year-on-year[12] - Net profit for the reporting period was 867 million RMB, an increase of 703 million RMB or 427.56% year-on-year, driven by increased sales volume and higher market prices for steel products[26] - Total operating revenue for Q1 2021 reached ¥17.61 billion, a 64.8% increase from ¥10.69 billion in Q1 2020[48] - Net profit for Q1 2021 was ¥867.45 million, compared to ¥164.43 million in Q1 2020, representing a significant increase of 426.5%[49] Assets and Liabilities - Total assets increased by 10.63% to CNY 67,038,490,196.73 compared to the end of the previous year[12] - Current liabilities rose to ¥23,736,653,574.61, up from ¥19,337,789,971.71, indicating a growth of about 22.4%[36] - Non-current liabilities totaled ¥17,544,919,270.58, compared to ¥16,374,229,793.84, reflecting an increase of approximately 7.2%[38] - The company's total equity reached ¥25,756,917,351.54, compared to ¥24,882,770,562.62, indicating an increase of approximately 3.5%[38] - Total liabilities increased to ¥41,281,572,845.19 from ¥35,712,019,765.55, indicating a growth of about 15.5%[38] - The total assets as of the end of Q1 2021 were 60,594,790,328.17 RMB, slightly down from 60,680,145,066.65 RMB at the end of the previous year[64] Cash Flow - Net cash flow from operating activities reached CNY 11,137,392.66, a significant recovery from a negative cash flow of CNY -138,251,592.34 in the previous year[12] - Cash flow from operating activities for the reporting period was 11.14 million RMB, compared to -138 million RMB in the same period last year, primarily due to reduced cash inflow from the pandemic impact[26] - The company reported a total cash inflow from operating activities of 8,630,264,110.17 RMB in Q1 2021, compared to 6,788,736,097.19 RMB in Q1 2020, indicating growth in operational receipts[60] Shareholder Information - The total number of shareholders reached 42,616 by the end of the reporting period[21] - The largest shareholder, Guangxi Liuzhou Iron and Steel Group Co., Ltd., holds 74.57% of the shares[21] Research and Development - R&D expenses for the reporting period were 725 million RMB, an increase of 481 million RMB or 197.27% year-on-year, reflecting increased investment in new product innovation[26] - Research and development expenses in Q1 2021 amounted to ¥725.45 million, a substantial increase from ¥244.04 million in Q1 2020, reflecting a growth of 196.5%[48] Operational Costs - Operating costs for the reporting period were 15.447 billion RMB, an increase of 5.419 billion RMB or 54.03% year-on-year, mainly due to increased production and consumption costs[26] - Total operating costs for Q1 2021 were ¥16.67 billion, up 58.8% from ¥10.50 billion in Q1 2020[48] Financial Position - The company’s financial expenses in Q1 2021 were ¥167.80 million, significantly higher than ¥39.65 million in Q1 2020, indicating an increase of 322.5%[48] - The company’s total liabilities included short-term borrowings of 2,786,958,919.58 RMB as of the end of Q1 2021[64] Compliance and Standards - The company’s financial statements reflect compliance with updated accounting standards as of January 1, 2021[76] - The company adopted the new leasing standard effective January 1, 2021, recognizing right-of-use assets and lease liabilities of 85,354,738.48 CNY[76]