Financial Performance - The company's operating revenue for 2021 was ¥77,912,144,981.46, representing a 60.03% increase compared to ¥48,684,792,685.58 in 2020[28] - The net profit attributable to shareholders of the listed company reached ¥2,500,582,902.58, a significant increase of 550.77% from ¥384,252,740.78 in the previous year[28] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,517,758,656.14, up 560.02% from ¥381,469,784.99 in 2020[28] - Basic earnings per share increased to ¥0.60, reflecting a 500.00% rise from ¥0.10 in the previous year[28] - The company achieved a sales revenue of 77.912 billion yuan, representing a year-on-year increase of 60%[53] - The profit for the year reached 3.435 billion yuan, a significant increase of 724.16% compared to the previous year[53] - The total operating revenue for the year reached ¥77.91 billion, a 60.03% increase compared to ¥48.68 billion in the previous year[61] Cash Flow and Dividends - The net cash flow from operating activities was ¥413,473,454.04, a turnaround from a negative cash flow of ¥2,039,000,213.29 in 2020, marking a 120.28% improvement[28] - The company plans to distribute a cash dividend of ¥6.00 per 10 shares (before tax) to all shareholders, with no bonus shares issued[7] - The total cash dividend distribution for the first half of 2021 was CNY 1,942,530,302.5, with a payout of CNY 5 per 10 shares[189] - The company plans to distribute a cash dividend of CNY 6 per 10 shares for the fiscal year 2021, totaling CNY 2,464,914,827.4[189] - The total distributable profit for the period was 2,977,306,297.64 CNY, with cash dividends accounting for 82.79% of the total profit distribution[1] Production and Sales - The production of pig iron was 9.838 million tons, a decrease of 2.3% year-on-year, while crude steel production increased by 1.24% to 10.438 million tons[53] - The company’s production volume reached 13.99 million tons, an 8.16% increase from the previous year, while sales volume was 13.88 million tons, up by 7.06%[65] - Steel plate sales accounted for 89.84% of total revenue, generating ¥69.99 billion, a 54.43% increase from the previous year[61] - The Northeast region contributed ¥31.50 billion to revenue, representing 40.43% of total sales, with a 54.27% year-on-year growth[61] Research and Development - Research and development expenses increased by 48.47% to ¥56,401,594.44 in 2021, compared to ¥37,989,623.28 in 2020[77] - The company has filed 193 patent applications, including 107 invention patents, demonstrating strong innovation capabilities[51] - The company developed 20 cold series products, 15 hot series products, and 14 special steel products, with a total of 100 research projects initiated, marking a 69.5% year-on-year increase[56] - The number of R&D personnel increased by 3.81% to 1,798, although the proportion of R&D personnel to total employees decreased to 9.53%[84] Governance and Management - The company has established a clear governance structure, ensuring compliance with relevant laws and regulations[135] - The board of directors operates independently, with specialized committees for audit, strategy, nomination, and compensation[136] - The company maintains independence from its controlling shareholder, ensuring separate operations in business, personnel, assets, and finance[138] - The company has a structured governance framework, with clear roles defined for directors and supervisors[148] - The company reported a significant leadership change with multiple executives resigning, including the Chairman and several Vice Presidents, effective November 18, 2021[150] - The company has a new management team in place, with Lin Dong appointed as the new General Manager on November 18, 2021[150] Risks and Challenges - The steel industry is expected to face challenges in achieving high-quality development due to the impact of the "dual carbon" goals and market uncertainties[44] - The company faces significant environmental risks due to increasing regulatory pressures and aims to improve its environmental performance[126] - The company is addressing energy risks by improving production processes and enhancing energy efficiency to ensure normal operations[127] - The company anticipates a slight slowdown in market demand for steel due to various economic uncertainties and aims to focus on high-margin products[128] Employee and Training - The total number of employees at the end of the reporting period was 18,858, with 15,083 in production roles[183] - The company completed 80 training projects in 2021, training 14,474 employees, achieving a training rate of 70%[188] - The company’s workforce includes 13 individuals with doctoral degrees and 351 with master's degrees[186] - The company’s annual training plan execution rate reached 85% in 2021[188] Financial Management - The total operating cost for the steel rolling industry in 2021 was ¥71,891,598,336.96, a 55.06% increase from ¥46,392,180,562.59 in 2020[70] - The cost of raw materials accounted for 51.94% of the total operating cost in 2021, increasing from 49.88% in 2020[70] - The company has established a digital and intelligent enterprise model, focusing on automation and innovative technologies to boost productivity[56] - The company has a cash dividend policy that complies with its articles of association and shareholder resolutions[1]

Financial Performance - The company's operating revenue for 2020 was ¥48,684,792,685.58, a decrease of 7.69% compared to ¥52,741,353,582.28 in 2019[29]. - The net profit attributable to shareholders for 2020 was ¥384,252,740.78, down 30.85% from ¥555,646,971.40 in 2019[29]. - Basic earnings per share for 2020 were ¥0.099, a decrease of 30.77% from ¥0.143 in 2019[29]. - Total assets at the end of 2020 were ¥65,007,470,749.20, an increase of 7.04% from ¥60,731,425,193.90 at the end of 2019[29]. - The net assets attributable to shareholders increased by 7.85% to ¥21,018,296,389.10 from ¥19,487,665,261.17 in 2019[32]. - The company reported a weighted average return on equity of 1.90% for 2020, down from 2.88% in 2019[29]. - The gross profit margin for the industrial sector was 4.71%, down by 1.98% year-on-year[61]. - The company achieved a net profit attributable to the parent company of ¥384,252,740.78 for the year 2020, with an unallocated profit balance of ¥2,692,018,405.40[125]. Cash Flow and Investments - The net cash flow from operating activities was negative at ¥-2,039,000,213.29, a decline of 129.22% compared to ¥6,977,824,041.16 in 2019[29]. - The company reported a net cash flow from operating activities of -¥2,039,000,000.00 for the year, with negative cash flows in Q2, Q3, and Q4[34]. - Cash inflows from investment activities decreased by 74% year-on-year, mainly due to reduced cash recovered from purchased financial products[82]. - Cash outflows from investment activities increased by 35.12%, attributed to higher cash payments for investments[82]. - The net cash flow from financing activities increased by 234.80%, primarily due to the issuance of convertible bonds[82]. - The total cash and cash equivalents decreased by 349.40% compared to the previous year[82]. - The total amount of raised funds in 2020 through convertible bonds was 675,920,000, with 246,295.97 already utilized[98]. - The cumulative amount of unused raised funds was 498,445.13, primarily held in deposits[98]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of ¥0.1 per 10 shares, based on a total of 3,875,371,532 shares[8]. - A cash dividend of ¥0.1 per 10 shares (including tax) is proposed, totaling ¥38,753,715.32, with ¥2,653,264,690.08 carried forward to the next year[125]. - The cash dividend payout ratio for 2020 is 10.09% of the net profit attributable to shareholders, compared to 18.69% in 2018[130]. - The retained earnings after the 2020 profit distribution will be 2,653,264,690.08 yuan, which will be carried forward to the next fiscal year[131]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase, considering significant capital expenditures[131]. Operational Highlights - The company produced 10.069 million tons of pig iron, a year-on-year increase of 3.52%[56]. - The production of special steel increased by 48.21% year-on-year, reaching 721,000 tons[56]. - The company achieved a total sales volume of 12,968,385.12 tons in 2020, reflecting a year-on-year increase of 0.25%[66]. - The company developed 36 new product varieties, including high-strength dual-phase steel CP980, filling a gap in cold-rolled production[49]. - The company maintained stable production and operations despite initial impacts from the global pandemic, supported by government policies[45]. Research and Development - Research and development investment reached 1,541,000,000.00 CNY in 2020, representing a 19.73% increase from 2019 and accounting for 3.17% of operating revenue[78]. - The number of R&D personnel increased to 1,732, up 6.13% from the previous year, with R&D personnel now making up 10.34% of the workforce[78]. - The company achieved a 21.2% increase in patent applications, with 211 patents accepted and 108 patents granted, including 16 invention patents[50]. Risk Management - The company has outlined risks and countermeasures in its report, emphasizing the importance of investor awareness regarding investment risks[7]. - The company faces risks from raw material price fluctuations, particularly iron ore and coal, which have seen significant price increases impacting profitability[120]. - Environmental risks are heightened due to national carbon reduction goals, prompting the company to enhance energy recycling and comply with stricter environmental standards[120]. - The company is implementing measures to mitigate risks from the COVID-19 pandemic, including strict health protocols and employee education[120]. Compliance and Governance - The company has not reported any changes in its main business since its listing[27]. - The company has committed to avoiding any competition with its parent group and other controlled entities, ensuring that no similar products are developed or produced during its tenure as a controlling shareholder[156]. - The company has established a long-term commitment to maintain its independent operations and decision-making processes, ensuring the protection of its assets and interests from any potential conflicts with its parent group[170]. - The company strictly managed raised funds according to the Shenzhen Stock Exchange regulations, ensuring legal and effective usage[102]. Accounting and Auditing - The company has not made any significant changes to its accounting policies or estimates compared to the previous year's financial report, ensuring consistency in financial reporting[172]. - The company implemented the new revenue recognition standard starting January 1, 2020, resulting in a decrease in advance receipts by approximately ¥4.43 billion and an increase in contract liabilities by approximately ¥3.92 billion[174]. - The company engaged Lixin Accounting Firm for auditing services, with a fee of ¥2.8 million, and has maintained this auditor for 13 consecutive years[184].

Financial Performance - The company's operating revenue for Q1 2021 was ¥15,252,265,770.99, representing a 30.04% increase compared to ¥11,728,574,704.88 in the same period last year[10] - Net profit attributable to shareholders for Q1 2021 reached ¥686,599,759.65, a significant increase of 285.73% from ¥177,998,575.36 in the previous year[10] - The net profit after deducting non-recurring gains and losses was ¥678,208,256.33, up 302.12% from ¥168,656,828.67 year-on-year[10] - Basic earnings per share for Q1 2021 were ¥0.18, a 260.00% increase compared to ¥0.05 in the same period last year[10] - Total operating revenue for the first quarter reached ¥15,252,265,770.99, an increase of 30.0% compared to ¥11,728,574,704.88 in the same period last year[55] - Net profit for the current period was ¥692,863,061.66, compared to ¥178,926,211.52 in the previous period, indicating a significant increase of approximately 287.5%[61] - Operating profit for the current period was ¥927,496,060.85, compared to ¥186,360,238.20 in the previous period, showing an increase of approximately 396.5%[61] - The company reported a total profit of ¥922,171,862.93, significantly higher than ¥180,386,308.35 from the previous period, marking an increase of around 411.5%[61] - Earnings per share (EPS) for the current period was ¥0.18, compared to ¥0.05 in the previous period, representing a growth of 260%[64] Assets and Liabilities - Total assets at the end of the reporting period were ¥66,446,670,324.00, reflecting a 2.21% increase from ¥65,007,470,749.20 at the end of the previous year[10] - Total liabilities amounted to ¥44,194,146,232.51, slightly up from ¥43,456,785,954.42 year-over-year[46] - Non-current liabilities increased to ¥13,431,679,850.49 from ¥10,523,847,963.14, reflecting a growth of 27.3%[46] - The total equity attributable to shareholders of the parent company rose to ¥21,713,721,738.01, compared to ¥21,018,296,389.10, marking an increase of 3.3%[46] - Cash and cash equivalents decreased to ¥8,699,983,948.15 from ¥11,808,618,300.87, a decline of 26.5%[47] - Inventory levels increased to ¥7,542,794,098.05 from ¥7,420,499,172.20, showing a growth of 1.6%[47] - The company reported a decrease in accounts receivable to ¥252,514,276.65 from ¥289,865,462.20, a reduction of 12.9%[47] - Long-term borrowings rose to ¥4,507,016,155.89 from ¥3,502,934,427.65, an increase of 28.6%[52] - The company’s retained earnings increased to ¥3,378,618,165.05 from ¥2,692,018,405.40, reflecting a growth of 25.5%[46] Cash Flow - The net cash flow from operating activities was negative at -¥966,470,265.23, a decline of 241.12% compared to ¥684,846,620.22 in the same period last year[10] - Cash received from tax refunds increased by 178% due to higher export tax rebates[20] - Cash paid for purchasing goods and services rose by 62% compared to the previous period[20] - Cash inflow from operating activities totaled CNY 10,045,576,210.96, an increase from CNY 7,927,916,775.92 in the prior period[72] - Cash outflow from operating activities was CNY 11,012,046,476.19, up from CNY 7,243,070,155.70 year-over-year[76] - Cash flow from investing activities resulted in a net outflow of CNY 3,420,987,681.05, compared to CNY 224,332,091.19 in the prior period[76] - Cash flow from financing activities showed a net outflow of CNY 310,432,944.17, improving from a net outflow of CNY 982,984,734.77 in the previous year[78] - The ending cash and cash equivalents balance was CNY 4,532,828,706.81, down from CNY 12,956,386,020.23 year-over-year[78] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,611, with the largest shareholder holding 62.17% of the shares[13] - The company utilized a total of RMB 327,858.61 million from non-public offering funds, with RMB 68,438.37 million remaining unutilized[26] - There were no overdue commitments from controlling shareholders or related parties during the reporting period[23] Tax and Expenses - Tax payable surged by 97% due to an increase in unpaid value-added tax at the end of the period[20] - Income tax expenses skyrocketed by 15,605% due to higher income tax payments[20] - Tax expenses for the current period were ¥229,308,801.27, compared to ¥1,460,096.83 in the previous period, indicating a substantial increase[61] - Financial expenses decreased to ¥155,122,738.36 from ¥212,078,788.48, a reduction of approximately 26.8%[65] Other Information - The company received government subsidies amounting to ¥16,562,376.50 during the reporting period[10] - The company has not engaged in any securities or derivative investments during the reporting period[24][25] - The first quarter report was not audited[96]

Financial Performance - Net profit attributable to shareholders was ¥28,865,084.77, down 15.67% year-on-year[10]. - Operating revenue for the period was ¥12,667,300,144.93, a decrease of 12.29% compared to the same period last year[10]. - Basic earnings per share were ¥0.01, a decrease of 46.15% compared to the same period last year[10]. - The weighted average return on net assets was 0.14%, down 1.16% year-on-year[10]. - The company's net profit for the reporting period is expected to show significant fluctuations compared to the previous year, although specific figures were not disclosed[45]. - The net profit for the current period is ¥4,392,341.19, significantly down from ¥50,093,596.41 in the previous period, reflecting a decline of approximately 91.25%[87]. - The total comprehensive income for the current period is ¥4,392,341.19, compared to ¥50,093,596.41 in the previous period, indicating a substantial decrease[86]. - The company's operating profit for the current period is ¥16,499,151.30, down from ¥55,588,984.49 in the previous period, representing a decline of approximately 70.4%[83]. - The net profit for the third quarter of 2020 was CNY 31.76 million, a decrease of 7.77% from CNY 34.44 million in the same period last year[74]. - The company's operating revenue for the current period is approximately CNY 34.76 billion, a decrease of 8.3% compared to CNY 38.01 billion in the previous period[95]. - The net profit for the current period is CNY 288.17 million, down 40.9% from CNY 487.38 million in the previous period[94]. Cash Flow and Financing - The net cash flow from operating activities was -¥1,407,629,344.42, representing a decline of 117.11%[10]. - Cash flow from operating activities decreased by 86% due to increased cash payments for goods and services[26]. - The company reported cash inflows from financing activities of 16,097,194,000.00, up from 7,482,429,000.00, representing a growth of approximately 114.4%[106]. - The net cash flow from financing activities was 3,542,066,350.82, a turnaround from -650,188,679.31 in the previous period, indicating improved financing conditions[106]. - Cash inflows from operating activities totaled 25,999,342,533.94, down from 27,300,590,357.24, reflecting a decrease of approximately 4.8%[103]. - Cash outflows from operating activities increased to 27,406,971,878.36 from 19,075,472,496.60, marking an increase of about 43.7%[103]. - The company reported a significant increase in employee compensation liabilities, rising to approximately RMB 64.82 million from RMB 23.70 million[61]. - The company raised a total of RMB 6.76 billion from the issuance of convertible bonds, with net proceeds after expenses being RMB 6.76 billion[44]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥65,200,664,816.84, an increase of 7.36% compared to the previous year[10]. - The total liabilities increased to approximately RMB 43.72 billion from RMB 40.72 billion, marking an increase of about 7.4%[61]. - Total current assets amounted to CNY 30,558,240,129.89 as of January 1, 2020, unchanged from December 31, 2019[113]. - Total non-current assets were CNY 30,173,185,064.01 as of January 1, 2020, remaining stable compared to the previous period[116]. - Total liabilities amounted to CNY 40,718,598,352.50 as of January 1, 2020, consistent with the previous reporting date[119]. - Current liabilities stand at approximately ¥33.50 billion, including short-term borrowings of ¥11.85 billion and accounts payable of ¥4.91 billion[125]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,963[15]. - The largest shareholder, Benxi Steel (Group) Co., Ltd., held 62.18% of the shares, totaling 2,409,628,094 shares[15]. Strategic Initiatives and Outlook - The company plans to use up to 4 billion RMB of temporarily idle funds for cash management within 12 months[29]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2021[36]. - Research and development investments increased by 30% year-over-year, focusing on innovative technologies in steel production[36]. - The company plans to pursue strategic acquisitions to enhance its supply chain efficiency, with a budget of 1 billion RMB allocated for potential targets[36]. - A new partnership with a logistics firm is expected to reduce operational costs by 15% over the next year[36]. - The management emphasized the importance of sustainable practices, aiming for a 40% reduction in carbon emissions by 2025[36]. Operational Metrics - User data showed a 20% increase in active users, reaching 1.2 million by the end of Q3 2020[36]. - New product launches are expected to contribute an additional 500 million RMB in revenue in the next quarter[36]. - The company reported a significant increase in revenue, achieving a total of 5 billion RMB in Q3 2020, representing a 15% year-over-year growth[36]. Compliance and Regulatory - The company is committed to maintaining compliance with regulatory standards, ensuring all operations align with the latest guidelines[36]. - The company has no reported violations regarding external guarantees or non-operating fund occupation by major shareholders during the reporting period[48][49].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 22,184,537,260.05, a decrease of 7.96% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 254,644,204.33, down 43.81% year-on-year[23]. - The net cash flow from operating activities was negative at CNY -151,475,707.08, a decline of 115.38% compared to the previous year[23]. - The company's operating revenue for the period was approximately ¥22.18 billion, a decrease of 7.96% compared to ¥24.10 billion in the same period last year[46]. - The company's net cash flow from operating activities was -¥151.48 million, a decline of 115.38% compared to ¥984.79 million in the previous year[46]. - The company's gross profit margin for the industrial sector was 7.86%, reflecting a slight decrease of 1.76% year-on-year[49]. - The company's main business revenue for the reporting period was approximately 22.18 billion, representing a year-on-year growth of 7.86%[52]. Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 62,710,402,910.64, an increase of 3.26% from the end of the previous year[23]. - The company's total assets under construction increased by 40.1% to approximately ¥2.57 billion as of June 30, 2020[36]. - The company's accounts receivable financing balance increased by 80.37% to approximately ¥4.38 billion, primarily due to an increase in received notes[36]. - Accounts receivable decreased by 3.55% to approximately 16.79 billion, while inventory increased by 2.61% to approximately 9.59 billion, indicating a shift in asset composition[54]. - The company's fixed assets decreased by 3.22% to approximately 24.95 billion, while construction in progress increased by 1.08% to approximately 2.57 billion[54]. - Short-term loans decreased by 1.72% to approximately 12.51 billion, and long-term loans decreased by 1.91% to approximately 3.81 billion, reflecting a reduction in debt levels[54]. - Total current assets increased to CNY 32.72 billion as of June 30, 2020, up from CNY 30.56 billion at the end of 2019, representing a growth of approximately 7.03%[195]. - Total liabilities rose to CNY 42.42 billion, compared to CNY 40.72 billion at the end of 2019, marking an increase of about 4.18%[198]. Product Development and Innovation - The company successfully developed 15 new product grades, including E4340 steel, which replaced mold casting with continuous casting, marking a domestic first[33]. - The company achieved a surface quality pass rate of over 96% for its large steel bars, up from 60%[33]. - The company has established a product series with over 60 varieties and 7,500 specifications, with high value-added products accounting for over 80%[33]. - The company has made significant advancements in product research and technology, winning a first-class award in the industry for its development of high-strength and thick hot-stamped steel[33]. - The company completed 15 new product developments in the first half of the year, with 8 products achieving small batch supply[39]. - The company reported a 31.12% increase in R&D investment, totaling approximately ¥20.20 million compared to ¥15.41 million in the previous year[46]. Market and Strategic Plans - The company plans to expand its market presence in the oil engineering sector in India and the Middle East with its newly developed high-grade pipeline steel X70[33]. - The company plans to enhance procurement management to mitigate risks associated with fluctuations in raw material prices, which significantly impact production costs[70]. - The company aims to strengthen its competitive position through targeted acquisitions and market expansion strategies[101]. - Future guidance indicates a focus on increasing efficiency in procurement and reducing costs associated with raw materials[104]. - The company is actively pursuing market expansion through strategic agreements, including a 6,882.65 million transaction for energy services[119]. Environmental Compliance - The total emissions of COD from Benxi Steel Plate Co., Ltd. amounted to 110 tons, with a concentration of 24 mg/L, below the standard of 50 mg/L[144]. - The total emissions of ammonia nitrogen were 5.4 tons, with a concentration of 0.82 mg/L, below the standard of 8 mg/L[144]. - The total emissions of particulate matter reached 6,286 tons, with concentrations varying from 7 to 35 mg/L across different processes, below the respective standards[144]. - The total emissions of sulfur dioxide were 2,505.7 tons, with a concentration range of 12-40 mg/L, below the standard of 200 mg/L[148]. - The total emissions of nitrogen oxides were 5,677 tons, with a concentration range of 100-230 mg/L, below the standard of 300 mg/L[148]. - The company has 178 sets of pollution control facilities in operation, ensuring compliance with emission standards[148]. - The company has completed 2 environmental impact assessments for major projects in 2020, indicating ongoing commitment to environmental regulations[149]. Shareholder and Governance - The annual shareholders' meeting had a participation rate of 76.79% on May 21, 2020[73]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[73]. - The controlling shareholder, Benxi Steel (Group) Co., Ltd., committed to not interfering in the company's management activities[79]. - The company is currently fulfilling commitments made regarding the protection of shareholder interests and the execution of compensation measures[79]. - The total number of common shareholders at the end of the reporting period was 54,074, with the largest shareholder, Benxi Steel Group, holding 62.11% of shares, amounting to 2,407,002,394 shares[162]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[168][171]. - The company has established a commitment to ensure that its directors and senior management do not engage in activities that harm the company's interests[73]. Legal and Compliance Matters - The company confirmed that there were no major litigation or arbitration matters during the reporting period[92]. - The company has not faced any penalties or rectification issues during the reporting period[93]. - The company has not engaged in significant equity investments or asset sales during the reporting period, indicating a focus on internal operations[59]. - The half-year financial report was not audited[88]. - The company has not reported any major guarantees or other significant contracts during the reporting period[141].

Financial Performance - The company's operating revenue for Q1 2020 was ¥11,728,574,704.88, a decrease of 0.28% compared to ¥11,761,190,575.63 in the same period last year[10] - Net profit attributable to shareholders was ¥177,998,575.36, down 34.46% from ¥271,606,318.07 year-on-year[10] - Basic earnings per share decreased by 28.57% to ¥0.05 from ¥0.07 in the same period last year[10] - The total profit for the current period was ¥180,386,308.35, a decrease of 37.8% from ¥289,565,423.09 in the previous period[60] - The company's operating profit was ¥186,360,238.20, down from ¥293,704,845.02 in the previous period[60] - The company reported a decrease in financial expenses, with interest expenses at ¥231,068,313.59 compared to ¥278,494,138.86 in the previous period[61] - The total comprehensive income for the current period was ¥159,710,649.34, down from ¥260,189,831.69 in the previous period[67] Cash Flow - The net cash flow from operating activities was ¥684,846,620.22, a significant decline of 75.12% compared to ¥2,752,557,195.47 in the previous year[10] - Cash inflow from operating activities totaled ¥7,927,916,775.92, compared to ¥7,601,853,603.78 in the previous period, indicating improved cash generation[68] - The cash flow from operating activities for the current period is 732,602,343.36, compared to 2,721,001,267.38 in the previous period, indicating a significant decrease[75] - The total cash outflow from operating activities is 7,108,032,246.07, up from 4,505,366,149.61 in the previous period, reflecting an increase of approximately 57.5%[75] - The cash inflow from financing activities is 1,957,194,000.00, down from 3,522,429,000.00 in the previous period, indicating a decrease of about 44.5%[78] - The net cash increase for the period is -421,364,436.28, contrasting with a net increase of 2,127,945,441.25 in the previous period, highlighting a significant decline in cash flow[78] Assets and Liabilities - Total assets at the end of the reporting period were ¥62,419,899,870.81, an increase of 2.78% from ¥60,731,425,193.90 at the end of the previous year[10] - Total liabilities reached CNY 40,355,999,074.00, compared to CNY 39,074,769,133.90, indicating an increase of approximately 3.28%[51] - The company's total equity rose to CNY 18,667,721,687.83 from CNY 18,501,839,977.04, reflecting an increase of about 0.89%[51] - Current assets totaled CNY 30,558,240,129.89, with cash and cash equivalents at CNY 18,415,844,397.77[82] - Total liabilities were CNY 40,718,598,352.50, with current liabilities at CNY 35,143,027,626.33[85] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 52,784[13] - The largest shareholder, Benxi Steel Group, held 61.93% of the shares, totaling 2,399,831,394 shares[13] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[16] Expenses - Total operating costs amounted to CNY 11,541,446,733.82, an increase from CNY 11,490,405,098.16, indicating a rise of about 0.45%[54] - Employee compensation payable increased by 51% due to the accumulation of unpaid bonuses[21] - Tax payable decreased by 91% as a result of reduced uncollected value-added tax at the end of the period[21] - Non-current liabilities due within one year surged by 467% due to the conversion of long-term loans into short-term loans[21] - Research and development expenses rose by 201% due to increased investment in R&D[21] - Financial expenses increased by 215% attributed to higher foreign exchange losses[21] - Cash paid for purchasing goods and services increased by 65%[21] Inventory - Inventory increased to approximately ¥9.44 billion from ¥7.70 billion, reflecting a significant rise[35] - Inventory increased to CNY 7,289,530,576.82 from CNY 6,114,582,832.33, marking a significant rise of about 19.2%[45] Other Information - The company reported a non-operating income of ¥9,341,746.69 during the reporting period[10] - The company has not yet audited the first quarter report for 2020[92] - The company is implementing new revenue and lease standards starting in 2020, with retrospective adjustments to prior period comparative data[92]

Financial Performance - The company's operating revenue for 2019 was ¥52,741,353,582.28, an increase of 5.10% compared to ¥50,181,869,721.54 in 2018[24] - The net profit attributable to shareholders of the listed company decreased by 46.39% to ¥555,646,971.40 from ¥1,036,493,236.07 in the previous year[24] - The net profit after deducting non-recurring gains and losses was ¥549,528,817.13, down 49.73% from ¥1,093,065,140.59 in 2018[24] - Basic earnings per share were ¥0.143, a decrease of 47.43% from ¥0.272 in the previous year[24] - Total revenue for the year reached ¥52,740,353,582.32, with a quarterly breakdown of ¥11,761,190,575.63 in Q1, ¥12,341,404,591.51 in Q2, ¥14,441,830,940.38 in Q3, and ¥14,196,927,474.80 in Q4[30] - Net profit attributable to shareholders was ¥271,606,318.07 in Q1, ¥181,603,297.69 in Q2, ¥34,229,631.12 in Q3, and ¥68,207,724.50 in Q4, showing fluctuations throughout the year[30] - The gross profit margin for the steel industry was 6.69%, down 3.15% from the previous year[56] - The company sold 12,936,378.68 tons of products in 2019, an increase of 8.52% from 11,921,203.14 tons in 2018[60] Cash Flow and Investments - The net cash flow from operating activities increased by 92.76% to ¥6,977,824,041.16, compared to ¥3,619,937,841.93 in 2018[24] - Operating cash inflow increased by 12.25% to ¥48,140,957,956.69 in 2019 from ¥42,888,958,869.76 in 2018[76] - Investment cash outflow rose dramatically by 503.53% to ¥4,598,859,687.86 in 2019 from ¥761,988,848.56 in 2018, primarily due to cash payments for equipment acquisition[77] - The net increase in cash and cash equivalents was ¥1,688,866,366.61 in 2019, a significant turnaround from a decrease of ¥565,028,156.96 in 2018[76] Assets and Liabilities - Total assets at the end of 2019 were ¥60,731,425,193.90, an increase of 1.84% from ¥59,632,504,915.83 at the end of 2018[27] - Net assets attributable to shareholders of the listed company increased by 1.89% to ¥19,487,665,261.17 from ¥19,126,258,116.67 at the end of 2018[27] - The company’s inventory decreased by 28.37% to 461,834.13 tons from 644,714.08 tons in the previous year[60] - The year-end balance for "Payables" was CNY 9,213,748,427.22 for "Notes Payable" and CNY 5,940,816,426.48 for "Accounts Payable"[194] Research and Development - R&D expenses increased significantly by 380.95% to ¥30,780,463.74 in 2019 from ¥6,399,884.30 in 2018, attributed to increased project accumulation[71] - Total R&D investment amounted to ¥1,287,080,000.00 in 2019, a decrease of 13.95% from ¥1,495,775,000.00 in 2018, representing 2.44% of operating revenue[75] - The company developed 41 new products in 2019, achieving cost reductions exceeding ¥100 million through process optimization[72] - The company received 146 patent applications, with 93 patents granted, marking a year-on-year increase of 260%[46] Market and Production - The company achieved a production of 9.73 million tons of pig iron, a year-on-year increase of 14.61%[51] - The production of crude steel reached 9.96 million tons, up 11.20% year-on-year[51] - The company successfully developed 41 new product grades, including high-strength martensitic steel with a supply capacity of 1200 MPa for automotive cold-formed products[51] - The company plans to achieve "ultra-low emissions" by 2025, with investments in environmental upgrades and clean production initiatives[46] Strategic Plans and Market Position - The company plans not to distribute cash dividends or issue bonus shares[6] - The company plans to maintain its current operations and fund necessary investments through self-owned funds and bank loans[111] - The company aims to expand its market presence, exporting 1 million tons of products to over 30 countries along the Belt and Road, accounting for 42% of total exports[47] - The company will focus on enhancing product development, optimizing product structure, and expanding market reach to mitigate market risks[111] Governance and Compliance - The company has committed to not using idle raised funds for high-risk investments, ensuring compliance with regulatory requirements[97] - The company has made commitments to protect the interests of minority shareholders and ensure fair treatment in related party transactions[186] - The company emphasizes the importance of environmental compliance and plans to enhance its environmental standards to meet and exceed national requirements[112] - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[188] Legal and Competitive Landscape - The company has engaged in legal proceedings to recover debts, with a court ruling to seize 62 properties related to a contractual dispute[150] - The company has made commitments to avoid any competition with its subsidiaries in both domestic and international markets[157] - The company is focused on maintaining its market position and expanding its operational capabilities through strategic acquisitions[163] - The company has established a clear framework to manage and mitigate industry competition risks[157]

Financial Performance - Operating revenue for the reporting period was ¥14,441,830,940.38, representing an increase of 8.48% year-on-year[10] - Net profit attributable to shareholders was ¥34,229,631.12, a decrease of 49.83% compared to the same period last year[10] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥26,305,669.24, down 49.16% year-on-year[10] - Basic earnings per share for the reporting period was ¥0.01, a decrease of 50.00% compared to the previous year[10] - The weighted average return on net assets was 0.18%, down 0.18% from the previous year[10] - Total operating revenue for the current period reached ¥14,441,830,940.38, an increase of 8.5% compared to ¥13,313,390,671.44 in the previous period[63] - Total operating costs amounted to ¥14,421,363,860.63, up from ¥13,269,371,473.96, reflecting a cost increase of approximately 8.7%[63] - Net profit for the current period was ¥34,441,788.58, a decrease of 49.1% from ¥67,661,615.15 in the previous period[66] - Earnings per share (EPS) for the current period was ¥0.01, down from ¥0.02 in the previous period[70] - The total profit for the current period was ¥50,614,681.83, compared to ¥69,010,761.99 in the previous period, showing a decrease of about 26.7%[75] - The company reported a comprehensive income total of ¥50,093,596.41, down from ¥67,305,381.95, reflecting a decline of approximately 25.6%[78] - The operating profit for the current period was ¥55,588,984.49, down from ¥69,460,590.20, indicating a decrease of about 20.0%[75] - The company’s total operating income for the year-to-date reached ¥38,544,426,107.52, up from ¥36,754,638,048.58, representing an increase of about 4.9%[81] - Total operating revenue for the current period reached ¥38,014,203,689.59, an increase of 3.68% compared to ¥36,668,559,494.02 in the previous period[89] - Net profit for the current period was ¥480,445,135.72, a decrease of 39.45% from ¥793,857,061.89 in the previous period[92] - Basic earnings per share for the current period were ¥0.13, down from ¥0.21 in the previous period[88] Assets and Liabilities - Total assets at the end of the reporting period reached ¥63,759,364,131.78, an increase of 6.92% compared to the previous year[10] - Non-current assets totaled CNY 29,063,662,671.47, an increase of 10.3% from CNY 26,351,236,471.94[46] - Total assets reached CNY 63,759,364,131.78, up from CNY 59,632,504,915.83, reflecting a growth of 6.3%[46] - Current liabilities increased to CNY 38,517,536,391.22, compared to CNY 32,586,274,656.62, marking a rise of 18.1%[49] - Total liabilities amounted to CNY 43,794,847,892.06, up from CNY 39,973,100,459.67, indicating a growth of 9.2%[49] - The total equity attributable to shareholders increased to CNY 19,439,854,342.60 from CNY 19,126,258,116.67, reflecting a growth of 1.6%[52] - Total liabilities increased to ¥41,907,442,812.45 from ¥37,800,203,666.54, representing an increase of approximately 5.5%[62] - Total equity rose to ¥18,463,718,814.97, compared to ¥18,161,244,401.16, indicating a growth of about 1.7%[62] - The total amount of accounts payable was ¥10,401,360,265.58, compared to ¥5,940,816,426.48, reflecting an increase of approximately 75%[62] - Total liabilities amount to 37,800,203,666.54, with non-current liabilities at 7,386,825,803.05[131] Cash Flow - Cash flow from operating activities for the year-to-date was ¥8,225,117,860.64, an increase of 18.63% compared to the same period last year[10] - Cash received from operating activities increased by 115% due to higher cash inflows related to operations[23] - Cash flow from operating activities generated ¥8,225,117,860.64, an increase of 18.63% compared to ¥6,933,467,399.98 in the previous period[99] - Total cash and cash equivalents at the end of the period reached ¥14,147,134,159.56, up from ¥12,664,653,528.13 in the previous period, reflecting a net increase of ¥3,339,309,316.36[110] - Cash inflow from financing activities totaled ¥6,282,429,000.00, down from ¥24,481,195,388.19 in the previous period, showing a significant decrease in financing received[110] - The company repaid debts amounting to ¥5,438,545,606.71, compared to ¥28,587,442,043.95 in the previous period, indicating a reduction in debt servicing[110] - The total cash outflow from financing activities was ¥6,551,228,106.32, a decrease from ¥29,764,041,016.74 in the previous period, reflecting a tighter financing strategy[110] - The company received tax refunds amounting to ¥284,437,850.97, an increase from ¥119,119,395.04 in the previous period, indicating improved tax recovery efforts[107] Research and Development - Research and development expenses surged by 606% due to increased investment in R&D[23] - Research and development expenses for the current period were ¥7,306,019.67, significantly higher than ¥744,560.38 in the previous period, marking an increase of over 880%[63] - Research and development expenses surged to ¥7,306,019.67 from ¥744,560.38, marking an increase of about 878.5%[75] - Research and development expenses increased significantly to ¥22,714,491.95 from ¥3,215,201.91, marking a rise of 608.36%[92] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 53,728[15] - The largest shareholder, Benxi Steel (Group) Co., Ltd., held 61.44% of the shares, totaling 2,381,105,094 shares[15]

Financial Performance - Operating revenue for the reporting period was ¥14.44 billion, representing an increase of 8.48% year-on-year[11]. - Net profit attributable to shareholders was ¥34.23 million, a decrease of 49.83% compared to the same period last year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥26.31 million, down 49.16% year-on-year[11]. - Basic earnings per share were ¥0.01, a decrease of 50.00% compared to the same period last year[11]. - The weighted average return on net assets was 0.18%, down 0.18% from the previous year[11]. - Total operating revenue for the current period reached ¥14,441,830,940.38, an increase of 8.5% compared to ¥13,313,390,671.44 in the previous period[64]. - Net profit for the current period was ¥34,441,788.58, a decrease of 49.1% from ¥67,661,615.15 in the previous period[66]. - The total comprehensive income for the current period was ¥50,093,596.41, down from ¥67,305,381.95, reflecting a decrease of approximately 25.5%[79]. - The net profit attributable to the parent company for the year-to-date period was ¥487,439,246.88, down from ¥825,182,211.60, a decline of approximately 41%[85]. - The net profit for the current period was ¥480,445,135.72, a decrease of 39.45% from ¥793,857,061.89 in the previous period[93]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥63.76 billion, an increase of 6.92% compared to the previous year[11]. - The total assets of the company reached ¥60,371,161,627.42, up from ¥55,961,448,067.70, representing an increase of 9.5%[63]. - Current liabilities increased to CNY 38,517,536,391.22, compared to CNY 32,586,274,656.62, marking a rise of 18.5%[50]. - The total liabilities reached CNY 43,794,847,892.06, up from CNY 39,973,100,459.67, indicating an increase of 4.6%[50]. - Total liabilities increased to ¥41,907,442,812.45 from ¥37,800,203,666.54, marking a rise of 5.9%[63]. - The total liabilities amounted to 33,281,268,443.89, indicating a stable financial position[115]. - The company reported a total equity of CNY 19,659,404,456.16, including CNY 3,875,371,532.00 in share capital[122]. - The total owner's equity attributable to the parent company was CNY 19,126,258,116.67[122]. Cash Flow - Cash flow from operating activities was ¥4.06 billion, a decrease of 41.50% compared to the previous year[11]. - Cash received from operating activities increased by 47% due to higher cash inflows[24]. - The cash flow from financing activities decreased by 65% due to reduced financing receipts[24]. - The net cash flow from operating activities was 4,387,882,915.87, a decrease of 33.7% compared to the previous period's 6,618,880,810.43[108]. - The net cash flow from financing activities was -268,799,106.32, an improvement from -5,282,845,628.55 in the previous period[111]. - The cash and cash equivalents at the end of the period reached 14,147,134,159.56, up from 12,664,653,528.13 in the previous period[111]. Research and Development - Research and development expenses surged by 606% due to increased investment in R&D[24]. - Research and development expenses for the current period were ¥7,306,019.67, significantly higher than ¥744,560.38 in the previous period, indicating a focus on innovation[64]. - Research and development expenses increased significantly to ¥22,714,491.95 from ¥3,215,201.91, indicating a focus on innovation[93]. Shareholder Information - The total number of shareholders at the end of the reporting period was 53,728[15]. - The largest shareholder, Benxi Steel (Group) Co., Ltd., held 61.44% of the shares[16]. Other Financial Metrics - The company reported non-recurring gains and losses totaling ¥7.92 million for the period[11]. - The company reported a 99% decrease in investment income due to a reduction in purchased financial products[24]. - The company recorded a financial expense of ¥515,337,847.93, a significant decrease from ¥1,687,162,319.17, suggesting improved financial management[93]. - The company reported a decrease in financial expenses, with interest expenses at ¥136,052,012.01 compared to ¥341,799,842.63 in the previous period, a reduction of 60.1%[64].

Financial Performance - Operating revenue for the first half of 2019 was CNY 24,102,595,167.14, an increase of 2.82% compared to CNY 23,441,247,377.14 in the same period last year[23] - Net profit attributable to shareholders decreased by 40.13% to CNY 453,209,615.76 from CNY 756,951,987.59 year-on-year[23] - The company reported a decrease of 36.36% in net profit after deducting non-recurring gains and losses, totaling CNY 461,338,410.13 compared to CNY 724,922,955.98 last year[23] - The weighted average return on net assets decreased to 2.35% from 4.56% in the previous year, a decline of 2.21%[23] - The operating costs increased by 6.07% year-on-year, amounting to approximately RMB 22.07 billion[45] - The company reported a significant decrease in financial expenses by 49.76% year-on-year, amounting to approximately RMB 403.47 million, due to increased exchange gains[45] Cash Flow and Assets - The net cash flow from operating activities increased by 34.81% to CNY 984,787,005.67 compared to CNY 730,519,741.47 in the previous year[23] - Cash and cash equivalents at the end of the reporting period amounted to ¥16,945,772,392.43, accounting for 27.59% of total assets, a decrease of 1.41% compared to the previous year[52] - Total assets at the end of the reporting period were CNY 61,423,927,056.10, reflecting a 3.00% increase from CNY 59,632,504,915.83 at the end of the previous year[23] - Total liabilities reached CNY 41.48 billion, up from CNY 39.97 billion, marking an increase of about 3.77%[191] - The company's equity attributable to shareholders was CNY 19.41 billion, compared to CNY 19.13 billion at the end of 2018, showing a growth of approximately 1.46%[191] Production and Development - In the first half of 2019, the company produced 475.8 million tons of pig iron, an increase of 83.36 million tons or 21.24% year-on-year[43] - The proportion of high value-added and high-tech products reached over 80%, with over 60 varieties and 7,500 specifications of products developed[34] - The company successfully developed 33 new products in the first half of 2019, including 5 automotive sheet products and 13 high-strength hot-rolled steel products[44] - The company is focusing on high-quality development and transformation upgrades, including projects like plate CCPP power generation and special steel electric furnace capacity replacement[34] Management and Operational Efficiency - The company has implemented a management level reduction of 35.5% and reduced the number of management personnel by 15%[34] - The company plans to enhance its innovation capabilities and improve product quality to adapt to market changes and regulatory requirements[63] - The company is focused on enhancing its operational efficiency through strategic partnerships and collaborations[95] Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[132] - The total discharge of COD was 120.52 tons, with no exceeding of government-approved limits reported[134] - The total discharge of nitrogen oxides was 6,181.68 tons, with no exceeding of government-approved limits reported[134] - The company has completed environmental impact assessments for high-grade non-oriented silicon steel and steelmaking plant projects, with approvals obtained in May 2019[137] Shareholder and Equity Information - The total number of shares after the recent issuance is 3,875,371,532, with 739,371,532 shares released from restrictions on April 18, 2019[147] - The company has 55,071 common stock shareholders at the end of the reporting period[152] - The total amount of related party transactions during the reporting period was 1,076,587.17 thousand RMB, with a total of 3,137,400 thousand RMB expected for the upcoming period[115] - The company has not issued any new shares during the reporting period[159] Future Plans and Strategies - The company has plans for market expansion and new product development as part of its future strategy[95] - The company committed to not transferring benefits to other entities or individuals under unfair conditions[72] - The company has not conducted any targeted poverty alleviation work in the reporting period and has no subsequent plans[140]