3.1 公司重大信息报告的基本原则： 广东中南钢铁股份有限公司 重大信息内部报告管理办法 2023 年 8 月 22 日经公司第九届董事会第二次会议审议通过 1 目的 为规范广东中南钢铁股份有限公司(以下简称"公司")的重 大信息内部报告工作，保证公司内部重大信息快速传递、归集和 有效管理，及时、真实、准确、完整、公平地披露信息，维护投 资者的合法权益，根据中华人民共和国《公司法》《证券法》、 中国证监会《上市公司信息披露管理办法》、深圳证券交易所《股 票上市规则》等法律法规以及《公司章程》的规定，结合本公司 实际情况，制定本办法。 2 适用范围 本办法适用于公司及公司所属各单位、子公司。 3 管理原则及重大信息的范围 3.1.1 及时报告所有对公司生产经营、股票价格有重大影响 的事项； 3.1.2 确保报告的内容真实、准确、完整，没有虚假记载、 严重误导性陈述或重大遗漏。 3.1.3 公司的控股股东或者实际控制人对重大事件的发生、 共 5 页 第 1 页 进展产生较大影响的，应当及时将其知悉的有关情况书面告知上 市公司，并配合公司履行信息披露义务。 3.2 重大信息的范围（不限于）： 3.2.1 《证券法》 ...

证券代码：000717 证券简称：中南股份 广东中南钢铁股份有限公司 投资者关系活动记录表 编号：2023-02 投资者关系活动类别 ☐特定对象调研 ☐分析师会议 ☐媒体采访 ☐业绩说明会 ☐新闻发布会 路演活动 ☐现场参观 ☐其他（请文字说明其他活动内容） 参与单位名称及人员姓名 中国宝武下属上市公司投资者统一见面会 中金公司、申万宏源、光大证券、招商证券等 时间 2023年05月25日 地点 上海市浦东新区世博大道1859号宝武大厦301、302会议室 董事、总裁 赖晓敏 上市公司接待人员姓名 董事会秘书 刘二 证券事务代表 高培福 投资者关系活动主要内容 第一部分：董事、总裁 赖晓敏先生介绍公司情况 一、公司简介 1.公司基本情况 中南股份（原韶钢松山），始建于1966年，1997年上市，2011 介绍 年8月融入中国宝武集团。 2022年12月24日，更名为广东中南钢铁 股份有限公司。在岗员工：5258人；中南钢铁持股：53%；钢产 量：802万吨。 2.公司主要产线及装备能力 1座1050m³高炉、1座2200m³高炉、1座3200m³高炉；3座120吨 转炉及配套精炼、连铸生产线，年产合格铸坯39 ...

证券代码：000717 证券简称：中南股份 公告编号：2023-23 广东中南钢铁股份有限公司 关于举办2022年度暨2023年一季度 业绩说明会的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 广东中南钢铁股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日在巨潮资讯网上披露了《2022 年年度报告全文》 《2022 年年度报告摘要》;2023 年 4 月 29 日在巨潮资讯网上披 露了《2023 年第一季度报告》。为便于广大投资者更加全面深入 地了解公司经营业绩、发展战略等情况，公司定于 2023 年 05月 18 日（星期四）15:10-16:10 在"价值在线"（www.ir-online.cn） 举办公司 2022 年度暨 2023 年一季度业绩说明会，与投资者进行 沟通和交流，广泛听取投资者的意见和建议。 一、说明会召开的时间、地点和方式 会议召开时间：2023 年 05 月 18 日（星期四）15:10-16:10 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 二、参加人 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥9,076,690,055.28, representing a 30.44% increase compared to ¥6,958,668,816.08 in the same period last year[5]. - The net profit attributable to shareholders for Q1 2023 was ¥5,962,174.39, a significant decrease of 94.64% from ¥111,283,731.88 in the previous year[5]. - The total profit for Q1 2023 was ¥6,470,786.26, a decline of 95.11% compared to ¥132,282,711.57 in Q1 2022, attributed to lower steel prices and high raw material costs[15]. - The company's basic earnings per share for Q1 2023 were ¥0.0025, down 94.55% from ¥0.0459 in the same period last year[5]. - Total operating costs amounted to ¥9,048,819,076.72, up 32.3% from ¥6,811,881,934.32 in the same period last year[41]. - Research and development expenses were ¥109,364,101.30, down from ¥138,922,966.06 in the previous year, reflecting a reduction of 21.4%[41]. Cash Flow - The net cash flow from operating activities increased by 130.08% to ¥1,078,906,834.23, compared to ¥468,934,699.26 in Q1 2022[5]. - The cash inflow from operating activities totaled CNY 9,699,541,814.17, an increase of 36.5% compared to CNY 7,114,884,932.42 in the previous period[45]. - The net cash flow from financing activities surged by 187.78% year-on-year to approximately ¥254.91 million, driven by increased inflows from financing activities this quarter[18]. - The cash inflow from financing activities amounted to CNY 1,086,437,058.26, compared to CNY 646,706,341.91, reflecting a 67.9% increase[45]. - The cash outflow for purchasing goods and services was CNY 8,287,176,375.56, compared to CNY 6,285,174,348.65 in the prior period, indicating a 31.8% increase[45]. - The cash outflow for paying taxes was CNY 37,964,164.05, down from CNY 64,380,393.10, reflecting a decrease of 41.0%[45]. Assets and Liabilities - Total assets as of March 31, 2023, were ¥21,541,721,166.99, reflecting a 6.51% increase from ¥20,224,918,337.02 at the end of the previous year[5]. - Total liabilities increased to ¥12,377,541,952.76 from ¥10,998,453,141.18, representing a growth of 12.5%[41]. - The total assets of the company as of March 31, 2023, were approximately ¥21.54 billion, compared to ¥20.22 billion at the beginning of the year[28]. - Total equity attributable to shareholders of the parent company decreased to ¥9,164,179,214.23 from ¥9,226,465,195.84, a decline of 0.7%[41]. Acquisitions and Investments - The company completed the acquisition of 100% equity in Guangdong Kunlun Information Technology Co., Ltd. from Baowu Group on February 28, 2023, which is now a wholly-owned subsidiary[5]. - The net cash flow from investing activities improved by 35.62% year-on-year, amounting to approximately -¥485.51 million, mainly due to a decrease in large certificates of deposit this quarter[18]. - The cash outflow from investing activities was CNY 481,272,879.36, down from CNY 761,199,215.54, showing a decrease of 36.8%[45]. Shareholder Information - As of the end of the reporting period, the total number of common shareholders was 93,361, with the largest shareholder, Baowu Group, holding 52.95% of shares[19]. - Accounts receivable amounted to approximately ¥105.16 million, compared to ¥21.64 million in the previous period[28]. - Inventory increased to approximately ¥2.47 billion, up from ¥2.06 billion in the previous period[28]. - Short-term borrowings rose to approximately ¥1.25 billion, compared to ¥580.51 million at the beginning of the year[28].

Financial Performance - The company's operating revenue for 2022 was ¥39,303,743,291.08, a decrease of 13.58% compared to ¥45,482,381,970.44 in 2021[27] - The net profit attributable to shareholders for 2022 was -¥1,297,686,883.02, representing a decline of 167.52% from ¥1,922,068,202.63 in the previous year[27] - The net cash flow from operating activities decreased by 70.24% to ¥1,009,371,610.48 in 2022, down from ¥3,392,175,831.99 in 2021[27] - Basic earnings per share for 2022 were -¥0.5354, a drop of 167.40% compared to ¥0.7944 in 2021[27] - Total assets at the end of 2022 were ¥20,131,496,162.38, a decrease of 2.25% from ¥20,595,284,690.71 at the end of 2021[27] - The net assets attributable to shareholders decreased by 16.10% to ¥9,190,459,261.62 at the end of 2022, down from ¥10,954,263,226.48 in 2021[27] - The company reported a loss of 1.45 billion RMB in taxes for 2022, a decline of 145.47% year-on-year[56] - The total revenue for 2022 was approximately ¥39.30 billion, a decrease of 13.58% compared to ¥45.48 billion in 2021[85] - Steel products accounted for 79.37% of total revenue, amounting to approximately ¥31.20 billion, down 16.21% from ¥37.24 billion in 2021[85] - The sales of rebar decreased by 10.81%, generating approximately ¥13.99 billion, which represents 35.60% of total revenue[85] Operational Highlights - In 2022, the company produced 6.7 million tons of iron, 8.02 million tons of steel, and 7.13 million tons of materials, with year-on-year growth of 1.4%, flat, and a decline of 9.6% respectively[56] - The company sold 8.96 million tons of finished products in 2022, with a slight increase of 0.2% year-on-year[56] - The production volume in the metallurgical steel industry remained stable at approximately 8.02 million tons, with no significant change compared to the previous year[103] - Iron production reached 6.95 million tons, a year-on-year increase of 3.7%[131] - Steel production reached 8.4 million tons, a year-on-year increase of 4.7%[131] - Sintered ore production reached 9.85 million tons, a year-on-year increase of 5.6%[131] Strategic Initiatives - The company plans to distribute a cash dividend of ¥0.30 per 10 shares, based on a total of 2,423,843,190 shares[2] - The company is focusing on enhancing safety management and environmental governance as part of its strategic initiatives[56] - The company aims to achieve over 80% of steel production capacity completing ultra-low emission transformation by 2025, with a target of reducing comprehensive energy consumption by over 2% per ton of steel[73] - The company is committed to a low inventory strategy for raw material procurement, ensuring stable and controllable channels for iron ore and coal[76] - The company is focused on enhancing its manufacturing capabilities through targeted R&D and technological upgrades, aiming to improve product quality and competitiveness[80] - The company is committed to advancing its 5G network construction to support digital transformation and smart manufacturing[131] - The company aims to achieve high-quality development by focusing on "green, intelligent, and high-end" growth paths, with a strategic goal of "98135" over three years[148] Market and Competitive Landscape - The steel industry is experiencing a new normal of periodic losses and long-term low profitability due to high supply capacity and insufficient downstream demand[73] - The company holds a market share of 21.4% in construction materials, 17.3% in medium and thick plates, and 10.8% in industrial wire rods in the Guangdong region[76] - The company is strategically located in Guangdong, benefiting from proximity to major consumption markets and a robust recycling market, which supports its growth potential in the region[78] - The company is positioned to benefit from the ongoing urban development and industrial upgrades in the Guangdong-Hong Kong-Macao Greater Bay Area, which presents significant demand for steel products[78] - The company is facing significant product price risks due to global supply chain disruptions and competition in the Guangdong steel market, which is characterized by high price volatility[151] Research and Development - The company’s R&D investment in 2022 was approximately ¥1.30 billion, a decrease of 8.97% compared to ¥1.43 billion in 2021[97] - The R&D investment as a percentage of operating revenue increased to 3.31% from 3.14% in the previous year, reflecting a 0.17% increase[97] - Research and development expenses increased by 24.17% year-on-year, totaling ¥805,248,686.94[108] - The company has made significant progress in the development of ultra-low temperature steel for LNG storage tanks, with key technologies already in the late stages of testing[94] - The company is developing an intelligent auxiliary system to reduce accidents and improve operational efficiency, currently in the acceptance phase[94] - The company is expanding its product development efforts to target high-end markets, aiming to improve product profitability[151] Governance and Management - The company appointed Wang Shen as the new financial officer on April 20, 2022, following the resignation of the previous financial officer due to work reasons[162] - The current term for the board members, including the chairman and directors, started on October 17, 2022, and will end on October 16, 2025[160] - The company has maintained a stable management team with no significant changes in executive positions reported[162] - The company is focused on maintaining compliance with regulatory requirements following recent changes in its supervisory board[162] - The company is committed to maintaining high standards of governance with the inclusion of independent directors in its board[166] Future Outlook - The company expects to achieve operating revenue of 40.3 billion yuan in 2023, an increase of 10.3 billion yuan year-on-year[131] - The company plans to continue monitoring the funding market and adjust financing strategies in response to market conditions, aiming to reduce financial costs[178] - Future outlook includes a projected revenue growth of 10% for 2023, driven by market expansion and new product launches[194] - The company plans to invest 500 million RMB in R&D for new technologies and product innovations in the upcoming year[194] - The company is exploring potential mergers and acquisitions to enhance its competitive position in the steel industry[194]

Market Overview - The annual net steel demand in South China exceeds 30 million tons, with no significant seasonal characteristics [2] - Major competitors include companies from Jiangxi, Hunan, and Guangdong regions, such as Guangsteel and Liugang [3] Company Performance - The company reported a net profit of 1.75 billion RMB for the first three quarters, a year-on-year increase of 1652.61% [3] - Key factors for strong performance include industry prosperity, high steel prices, management reforms, and improved capacity utilization [4] Financial Health - The company's debt-to-asset ratio was 96.9% in 2016, ranking third in the industry; it decreased to approximately 92% in the first half of 2017 and 85.3% in the first three quarters [4] - The target is to reduce the debt-to-asset ratio to below 80% by the end of the year [4] Government Support - Government subsidies are primarily used for technology development, product structure adjustment, and energy-saving projects [4] - The company expects to continue receiving similar government subsidies in the future, pending project approvals [4] Supply Chain and Production - The company maintains stable supply chains for raw materials, sourcing domestically from Baoding Energy and internationally through collaboration with Baowu [5] - The production capacity for main products in 2016 was 200,000 tons for rebar, 260,000 tons for plates, and 120,000 tons for wire rods, with market shares in Guangdong province at 13%, 20%, and 16% respectively [4] Inventory and Market Outlook - The finished steel inventory is maintained at approximately 5 days [5] - The outlook for the real estate market is cautiously optimistic, while infrastructure projects in Guangdong are expected to provide support [5]

Production and Operational Performance - In the first half of 2019, the company achieved its production targets for iron, steel, and steel products, maintaining a stable production efficiency through optimized raw material structure and operational advantages [3]. - The company plans to conduct maintenance on 2 converters and 2 rolling lines, each for approximately 10 days, in the second half of 2019 [3]. - The company aims to start preparations for a major overhaul of one blast furnace in the next three years based on usage lifespan and condition [3]. Market and Product Development - The company has added 47 new customers and obtained 11 new certifications in the first half of 2019, despite a decline in orders for automotive steel due to the downturn in the automotive industry [4]. - The company is focusing on high-end rebar and wire rod products, leveraging regional market advantages to enhance product structure and competitiveness [4]. - The company has initiated the construction of a new high-speed wire rod production line to improve the variety and quality of high-end industrial wire products [4]. Demand and Strategic Outlook - The company reported normal order intake in June and July 2019, with inventory turnover maintained at 3-4 days, indicating a healthy production and sales situation [4]. - The Guangdong steel consumption is expected to slightly increase in the next 2-3 years, driven by national urbanization and the development of the Guangdong-Hong Kong-Macao Greater Bay Area [5]. - The company is actively following up on policies related to the Greater Bay Area, which are expected to boost demand in construction, transportation, and high-end manufacturing sectors [4][5]. Infrastructure and Technological Upgrades - The company is currently focused on several infrastructure and technological upgrades, including the transformation of the No. 6 continuous casting machine and the establishment of an intelligent factory [5]. - Environmental upgrades are also a priority, with projects aimed at reducing emissions and improving energy efficiency, such as the renovation of sintering machines and the implementation of dust treatment technologies [5][6]. Financial Performance and Margins - The gross profit per ton of steel in Q2 2019 showed a slight increase compared to Q1, although the outlook for Q3 remains uncertain due to rising raw material costs and increased competition [6]. - The company anticipates that achieving ultra-low emissions standards will require significant upfront investment and ongoing operational costs, impacting overall profitability [6].

Financial Performance - Operating revenue for the reporting period was CNY 7,249,452,358.51, representing a year-on-year increase of 2.39%[8] - Net profit attributable to shareholders decreased by 10.79% to CNY 1,000,321,776.59 compared to the same period last year[8] - Basic earnings per share were CNY 0.4134, down 10.79% year-on-year[8] - The company reported a net profit of CNY 2,757,075,085.50 for the year-to-date, an increase of 54.02% compared to the previous year[8] - Operating profit rose by 40.31% to ¥2,796,103,241.20, reflecting improved profitability[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 16,002,268,324.76, a decrease of 10.80% compared to the previous year[8] - Net assets attributable to shareholders increased by 33.53% to CNY 5,681,370,820.19 compared to the previous year[8] - As of September 30, 2018, accounts receivable decreased by 88.3% to ¥92,193,065.16, primarily due to the recovery of long-term receivables from Baotou Shaoguan[18] - Long-term borrowings decreased by 91.3% to ¥126,908,676.73, primarily due to the repayment of loans related to long products[18] - The company experienced a 171.50% increase in asset impairment losses, totaling ¥38,409,431.57, mainly due to increased bad debt provisions[20] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 3,105,329,492.37, an increase of 100.52%[8] - Cash flow from operating activities increased by 100.52% to ¥3,105,329,492.37, driven by increased profitability and a significant reduction in accounts receivable[23] - The company reported a 43.07% increase in cash outflows for debt repayment, amounting to ¥7,326,745,158.20, influenced by the repayment of loans from Baotou Shaoguan[23] Shareholder Information - The top shareholder, Baowu Group Guangdong Shaoguan Steel Co., Ltd., holds 53.05% of the shares, amounting to 1,283,512,890 shares[12] - The total number of ordinary shareholders at the end of the reporting period was 114,786[12] Research and Development - Research and development expenses increased by 65.96% to ¥191,676,200.79, indicating a focus on new product trials[20] Derivative Investments - The company reported a significant investment in derivatives, totaling 66,907,000 CNY, with a net loss of 1,164,300 CNY during the reporting period[31] - The company has established a risk management framework for its derivative investments, including strict authorization and reporting systems to mitigate risks[32] - The company’s derivative investments are primarily aimed at hedging against currency and interest rate fluctuations, aligning with its operational needs[32] - The company has not engaged in any securities investments during the reporting period[28] - The company has not reported any significant changes in its accounting policies for derivative investments compared to the previous reporting period[32] Operational Challenges - The company’s wholly-owned subsidiary was involved in a bankruptcy liquidation process, indicating potential challenges in its operational structure[30] - The company’s 7th blast furnace resumed normal production, which may positively impact future output[30] - The company has expanded its business scope and modified its articles of association to adapt to market changes[30] Compliance and Governance - There were no overdue commitments from the actual controller, shareholders, or related parties during the reporting period[27] - No violations of external guarantees during the reporting period[35] - No non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[36] - The company received government subsidies during the reporting period, although specific amounts were not disclosed[29]

Financial Performance - The company's operating revenue for the reporting period reached ¥12,120,878,046.52, representing a 12.22% increase compared to the same period last year[17]. - Net profit attributable to shareholders was ¥1,756,753,308.91, marking a significant increase of 162.69% year-on-year[17]. - The net cash flow from operating activities was ¥1,995,019,956.84, a remarkable increase of 3,396.31% compared to the previous year[17]. - Basic earnings per share rose to ¥0.7261, reflecting a 162.70% increase from the same period last year[17]. - The total profit for the period was CNY 1,764,568,482.34, reflecting a growth of 163.85% year-on-year, driven by rising steel prices and improved cost control[35]. - The company achieved a net profit of CNY 1.7568 billion, marking a historical high with a year-on-year increase of 163.85%[31]. - Operating revenue reached CNY 12.121 billion, an increase of 12.22% compared to the previous year, primarily due to rising steel prices[31]. Assets and Liabilities - The total assets at the end of the reporting period were ¥14,744,869,368.65, a decrease of 17.81% from the previous year-end[17]. - The net assets attributable to shareholders increased to ¥4,681,049,043.60, which is a 10.02% increase compared to the previous year-end[17]. - Total liabilities decreased from CNY 13,684,479,474.91 to CNY 10,063,820,325.05, a reduction of approximately 26.5%[134]. - Short-term borrowings decreased from CNY 5,140,298,065.06 to CNY 4,296,838,557.73, a decline of about 16.5%[134]. - Long-term borrowings decreased from CNY 1,463,352,522.89 to CNY 204,141,782.89, a significant reduction of approximately 86.0%[134]. Cash Flow - Cash inflow from financing activities was CNY 3,761,052,830.89, up from CNY 3,034,381,239.32, representing a growth of approximately 23.9%[151]. - Net cash flow from financing activities decreased to -CNY 1,829,854,779.99 from -CNY 235,298,318.42, indicating a decline in financing efficiency[151]. - The ending balance of cash and cash equivalents was CNY 547,881,611.57, down from CNY 652,989,533.47 in the previous period, reflecting a decrease of about 16%[151]. - Cash outflow for purchasing goods and services was CNY 10,468,423,292.72, slightly decreased from CNY 11,042,760,488.06, showing a reduction of about 5.2%[150]. Operational Efficiency - The company continues to focus on cost reduction and efficiency improvements, leading to significant enhancements in production capabilities[32]. - The company is advancing its smart manufacturing initiatives to improve operational efficiency and work environment[32]. - The gross profit margin for steel products was 20.94%, showing an increase of 8.73% compared to the previous year[37]. - The company reported a significant increase in investment activities, with cash outflow for fixed asset purchases rising by 251.96% year-on-year to CNY 713,433,495.60[35]. Market and Sales - The company is actively pursuing market expansion strategies, including potential mergers and acquisitions to enhance its competitive position[51]. - Total sales of steel materials reached 320,978 million, reflecting a significant increase of 61.97% compared to the previous period[82]. - The overall performance in the steel sector showed resilience, with a reported growth of 9.23% in sales volume[79]. - The company plans to enhance its market expansion strategies to capture a larger share of the steel industry[83]. Research and Development - Research and development investment totaled CNY 118,693,963.77, an increase of 33.50% year-on-year, focusing on new product development[35]. - A total of 6,803.29 million was allocated for research and development in the first half of 2018, emphasizing the focus on innovation[79]. - New product development efforts are focused on enhancing energy efficiency and environmental sustainability, with investments in innovative technologies[79]. Risk Management - The company faced risks and has outlined measures to address them in the report[5]. - The company has established a risk warning mechanism to strengthen risk management related to derivative investments[48]. - The company is exposed to currency risks due to the depreciation of the RMB, impacting the cost of imported iron ore, and is implementing hedging strategies[57]. - Environmental risks are being managed through upgrades to pollution control facilities, enhancing the company's ability to meet environmental standards[56]. Safety and Compliance - The company has been penalized for safety violations, including a gas poisoning incident, leading to administrative fines as per the regulations of the Ministry of Emergency Management[68]. - Following two safety incidents, the company has implemented enhanced safety management measures, including upgraded gas operation controls and risk management protocols[70]. - The company has established a daily reporting mechanism for high-risk operations to strengthen process control and ensure safety compliance[71]. Shareholder and Governance - The company held several shareholder meetings with participation rates of 53.76% and 54.52% for the first and annual meetings respectively[60]. - The company’s total shares amount to 2,419,524,410, with 99.99% being unrestricted shares[115]. - The company has a governance structure that includes a shareholders' meeting, a board of directors, and a supervisory board, ensuring compliance with corporate governance standards[173]. Environmental Management - The company completed the carbon emission verification for 2017 on June 11, 2018, as required by the provincial economic and information bureau[105]. - The company has updated its environmental facility management plan, achieving a 100% operational rate for environmental facilities in the first half of 2018[102]. - The company monitored 1,499 pollution factors across 48 wastewater monitoring points and 326 pollution factors across 103 air monitoring points from January 1 to June 30, 2018[104].

Financial Performance - The company's operating revenue for Q1 2018 was CNY 6,106,040,059.56, representing a 15.89% increase compared to CNY 5,268,763,626.37 in the same period last year[8] - Net profit attributable to shareholders reached CNY 858,313,974.47, a significant increase of 410.42% from CNY 168,158,813.19 year-on-year[8] - The net profit after deducting non-recurring gains and losses was CNY 865,452,580.22, up 343.02% from CNY 195,354,725.66 in the previous year[8] - The basic earnings per share increased to CNY 0.3547, reflecting a growth of 410.36% compared to CNY 0.0695 in the same quarter last year[8] - Operating profit surged by 412.18% to ¥857,672,817.96, primarily driven by higher steel gross margins[15] - Net profit increased by 410.42% to ¥858,313,974.47, reflecting the rise in operating profit[15] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 13,896,925,242.80, a decrease of 3.60% from CNY 14,415,379,972.51 at the end of the previous year[8] - The net assets attributable to shareholders increased by 28.91% to CNY 3,831,855,527.09 from CNY 2,972,561,886.43 at the end of the previous year[8] - Cash and cash equivalents decreased by 58.01% to ¥457,114,520.99 due to increased loan repayments and supplier payments[15] Cash Flow - The net cash flow from operating activities improved to -CNY 99,180,809.48, an 84.55% improvement from -CNY 642,037,421.79 in the same period last year[8] - The company reported a net cash flow from operating activities of -¥99,180,809.48, an improvement of 84.55% compared to the previous year[15] Shareholder Information - The company reported a total of 136,183 common shareholders at the end of the reporting period[11] - The largest shareholder, Baowu Group Guangdong Shaoguan Steel Co., Ltd., held 53.05% of the shares, totaling 1,283,512,890 shares[11] Expenses - Sales expenses rose by 42.89% to ¥74,737,376.87, mainly due to increased transportation and storage costs[15] - Financial expenses decreased by 55.64% to ¥34,203,658.78, attributed to a significant reduction in short-term borrowings and interest expenses[15] Corporate Actions and Governance - The company is actively organizing the resumption of production following a gas leak incident at the No. 7 blast furnace[16] - The company is awaiting shareholder approval for the acquisition of 100% equity in Baote Shaoguan and related transactions[16] - The company’s controlling shareholder is in the process of issuing exchangeable bonds, pending completion[16] - The company did not report any overdue commitments from controlling shareholders or related parties during the reporting period[18] - The company has established a risk warning mechanism and strengthened risk control measures for its derivative investments, including strict authorization and position balance systems[22] - The company conducted forward foreign exchange and currency swap transactions to hedge against exchange rate and interest rate fluctuations, aligning with its operational needs[23] - The company has not engaged in any non-compliant external guarantees during the reporting period[25] - There were no non-operational fund occupations by controlling shareholders or related parties during the reporting period[26] Investor Relations - The company held a series of investor communications and site visits with various institutional investors in March 2018[24]