Financial Performance - The company's operating revenue for the third quarter was RMB 30,556 million, a decrease of 14.64% compared to RMB 35,796 million in the same period last year[4]. - The net profit attributable to shareholders was a loss of RMB 1,523 million, representing a decline of 165.45% from a profit of RMB 2,327 million in the previous year[4]. - The basic earnings per share were RMB -0.161, down 165.18% from RMB 0.247 in the same period last year[5]. - Total operating revenue for the first nine months of 2022 was RMB 100,850 million, a decrease of 6.1% compared to RMB 108,103 million in the same period of 2021[19]. - Net profit for the first nine months of 2022 was RMB 214 million, a significant decline of 97.2% from RMB 7,561 million in the same period of 2021[19]. - The company reported a basic earnings per share of RMB 0.021 for the first nine months of 2022, down from RMB 0.801 in the same period of 2021[19]. - Operating profit for the first nine months of 2022 was RMB (54) million, compared to RMB 8,641 million in the same period of 2021, indicating a significant decline[24]. - Net profit attributable to the parent company for the first nine months of 2022 was RMB 348 million, down from RMB 6,951 million in the same period of 2021, reflecting a decrease of 94.9%[24]. Cash Flow and Assets - The company reported a net cash flow from operating activities of RMB 6,198 million, a decrease of 39.25% compared to the previous year[5]. - The net cash flow from operating activities decreased by RMB 4,005 million year-on-year, mainly due to a decrease in cash received from sales of goods and services by RMB 5,333 million[10]. - Cash flow from operating activities generated RMB 6,198 million, down 39.3% compared to RMB 10,203 million in the first nine months of 2021[20]. - Cash and cash equivalents at the end of the reporting period were RMB 6,162 million, an increase from RMB 5,354 million at the end of 2021[20]. - Cash and cash equivalents at the end of September 2022 were RMB 3,463 million, up from RMB 2,839 million at the end of 2021[26]. - Operating cash flow for the first nine months of 2022 was RMB 4,347 million, down from RMB 8,725 million in the same period of 2021, indicating a decline of 50.2%[26]. - The total assets at the end of the reporting period were RMB 94,743 million, a decrease of 3.96% from the previous year[5]. - The total assets as of September 30, 2022, amounted to RMB 94,743 million, a decrease from RMB 98,652 million at the end of 2021[16]. - Total assets as of September 30, 2022, were RMB 89,407 million, slightly down from RMB 90,706 million at the end of 2021[22]. Liabilities and Equity - The current portion of non-current liabilities at the end of the reporting period increased by RMB 4,865 million, attributed to long-term borrowings and bonds payable maturing within one year[10]. - The taxes payable at the end of the reporting period increased by RMB 1,190 million compared to the end of the previous year, primarily due to an increase in value-added tax payable[10]. - The long-term borrowings at the end of the reporting period decreased by RMB 3,050 million compared to the end of the previous year[10]. - Total liabilities decreased to RMB 35,951 million as of September 30, 2022, down from RMB 37,415 million at the end of 2021[18]. - The company's total equity as of September 30, 2022, was RMB 58,792 million, a decrease from RMB 61,237 million at the end of 2021[18]. - The company’s total equity attributable to shareholders was RMB 55,415 million as of September 30, 2022, down from RMB 56,748 million at the end of 2021[23]. - Total liabilities as of September 30, 2022, were RMB 33,992 million, compared to RMB 33,958 million at the end of 2021, showing a marginal increase[23]. Research and Development - Research and development expenses increased by RMB 164 million year-to-date, primarily due to higher costs associated with new product trials[8]. - Research and development expenses increased to RMB 565 million, up 40.9% from RMB 401 million in the same period of 2021[19]. - Research and development expenses for the first nine months of 2022 were RMB 557 million, an increase from RMB 369 million in the same period of 2021[24]. Inventory and Costs - The company experienced a significant increase in raw material prices, impacting operational costs and profit margins[9]. - The company reported a decrease in inventory from RMB 14,561 million at the end of 2021 to RMB 9,015 million as of September 30, 2022, a reduction of 38.5%[22]. - The company's inventory decreased by RMB 6,705 million year-to-date, reflecting efforts to accelerate capital turnover[9]. - Total operating costs increased to RMB 101,614 million, up 2.9% from RMB 98,762 million year-over-year[19]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 122,862, including 454 H-share holders[12]. - The largest shareholder, Anshan Iron and Steel Group Co., Ltd., holds 53.35% of the shares, totaling 5,016,111,529 shares[12]. Future Outlook - The company plans to focus on market expansion and new product development to improve future performance[19].

Financial Performance - The company's operating revenue for the third quarter was RMB 30,556 million, a decrease of 14.64% compared to the same period last year[4]. - The net profit attributable to shareholders was a loss of RMB 1,523 million, a decline of 165.45% year-on-year[4]. - The basic earnings per share for the reporting period was -0.161 RMB, down 165.18% from 0.245 RMB in the same period last year[5]. - Operating profit for the first nine months of 2022 was 99 million RMB, a decrease from 9,773 million RMB in the same period of 2021[24]. - Net profit for the first nine months of 2022 was 214 million RMB, compared to 7,561 million RMB in the same period of 2021, reflecting a significant decline[24]. - Net profit for the first nine months of 2022 was RMB 348 million, a significant decline of 94.9% from RMB 6,951 million in 2021[40]. - The company reported a decrease in sales revenue from goods and services, totaling RMB 89,812 million, down from RMB 97,241 million in 2021[43]. - The total comprehensive income attributable to the parent company was RMB 423 million, a decrease from RMB 6,964 million in 2021[41]. Cash Flow - Cash flow from operating activities for the year-to-date was RMB 6,198 million, a decrease of 39.25% compared to RMB 10,122 million last year[5]. - Cash flow from operating activities decreased by RMB 4,005 million compared to the same period last year, primarily due to a decrease in cash received from sales and an increase in cash paid for purchases[12]. - Cash flow from operating activities for the first nine months of 2022 was 6,198 million RMB, a decrease from 10,203 million RMB in the same period of 2021[29]. - Cash flow from investing activities resulted in a net outflow of 3,000 million RMB for the first nine months of 2022, compared to a net outflow of 2,357 million RMB in the same period of 2021[30]. - Cash flow from financing activities showed a net outflow of 2,434 million RMB for the first nine months of 2022, compared to a net outflow of 7,878 million RMB in the same period of 2021[34]. - Cash flow from operating activities generated RMB 4,347 million, down 50.2% from RMB 8,725 million in the previous year[43]. - Cash flow from investing activities showed a net outflow of RMB 2,449 million, compared to a smaller outflow of RMB 953 million in 2021[44]. - Cash flow from financing activities resulted in a net outflow of RMB 1,307 million, a decrease from RMB 6,519 million in the same period of 2021[46]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 94,743 million, a decrease of 3.96% from RMB 97,526 million at the end of the previous year[5]. - The total current assets as of September 30, 2022, were RMB 28,474 million, down from RMB 32,541 million at the end of 2021[18]. - The total assets as of September 30, 2022, were RMB 94,743 million, down from RMB 98,652 million at the end of 2021[19]. - The total liabilities as of September 30, 2022, were RMB 35,951 million, a decrease from RMB 37,415 million at the end of 2021[20]. - The total liabilities as of September 30, 2022, were 33,992 million RMB, compared to 33,958 million RMB at the end of 2021, indicating stable liability levels[36]. - The company's total equity attributable to shareholders was 55,415 million RMB as of September 30, 2022, down from 56,748 million RMB at the end of 2021[37]. Research and Development - Research and development expenses increased by RMB 164 million year-to-date, primarily due to increased costs associated with new product trials[6]. - Research and development expenses increased to RMB 565 million, up 40.9% from RMB 401 million in the previous year[23]. - Research and development expenses increased to RMB 557 million, up from RMB 369 million in the previous year, reflecting a focus on innovation[39]. Investment and Income - Investment income decreased by RMB 114 million year-to-date, mainly due to reduced returns from joint ventures[6]. - The company reported a net profit of RMB 200 million from investments in joint ventures and associates, down from RMB 314 million in the previous year[23]. - The company recorded investment income of RMB 1,071 million, down from RMB 1,367 million in the same period of 2021[39]. Impairment and Tax - Asset impairment losses decreased by RMB 105 million year-to-date, primarily due to a reversal of inventory write-downs[6]. - Credit impairment losses decreased by RMB 137 million compared to the same period last year, mainly due to the reversal of accounts receivable credit impairment losses[9]. - Income tax expenses decreased by RMB 2,294 million compared to the same period last year, mainly due to a decrease in total profit and the deferral of tax assets from losses of subsidiaries[9]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 122,862, including 454 H-share holders[13]. - Equity attributable to shareholders decreased by 4.16% year-on-year, from RMB 60,711 million to RMB 58,188 million[5].

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 70,294 million, a decrease of 2.78% compared to RMB 72,307 million in the same period last year[31]. - Net profit attributable to shareholders of the listed company was RMB 1,716 million, down 67.06% from RMB 5,210 million in the previous year[31]. - The basic earnings per share for the first half of 2022 was RMB 0.182, a decline of 67.15% compared to RMB 0.554 in the same period last year[31]. - The total profit for the same period was RMB 2,206 million, down 67.05% compared to the previous year[44]. - The company reported a sales profit margin of 3.14%, down 6.12 percentage points year-on-year[44]. - The cost of goods sold increased by 4.80% to RMB 66,613 million from RMB 63,560 million year-on-year[58]. - The sales expenses rose by 3.34% to RMB 309 million, while management expenses decreased by 13.97% to RMB 659 million[58]. - Research and development expenses increased by 35.74% to RMB 395 million, primarily due to higher costs associated with new product trials[58]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of RMB 1,669 million, a decrease of 68.27% compared to the previous year[194]. Cash Flow and Assets - The net cash flow from operating activities was RMB 4,140 million, a decrease of 52.29% from RMB 8,677 million in the previous year[31]. - Cash flow from operating activities decreased by 52.29% to RMB 4,140 million, primarily due to a RMB 6,689 million decrease in cash received from sales[60]. - The total assets at the end of the reporting period were RMB 96,247 million, down 2.44% from RMB 98,652 million at the end of the previous year[33]. - Total current assets decreased from RMB 32,541 million to RMB 30,714 million, reflecting a reduction of 5.6%[196]. - The company's inventory decreased from RMB 19,059 million to RMB 14,959 million, a decline of 21.5%[195]. - Total liabilities and equity decreased to RMB 96,247 million from RMB 98,652 million, reflecting a decline of approximately 2.5%[200]. Production and Sales - Steel production was 13.5 million tons, a decrease of 7.34% year-on-year, while sales of steel products were 13.03 million tons, down 3.62%[45]. - The comprehensive yield rate of steel products improved by 0.13 percentage points compared to the previous year[45]. - Domestic revenue in China was RMB 66,837 million, a decline of 2.18% from RMB 68,327 million in the same period last year[64]. - Export revenue decreased by 13.14% to RMB 3,457 million from RMB 3,980 million[64]. - The company achieved a 60% year-on-year increase in sales of hot-formed products and a 27% increase in sales of high-strength steel products[55]. Investments and Acquisitions - The company completed the acquisition of the net assets of the second power plant under Anshan Iron and Steel, which was approved by the board of directors[33]. - The total investment amount for the reporting period was RMB 362 million, a significant increase of 8,950% compared to RMB 4 million in the same period last year[78]. - The company has engaged in significant equity investments during the reporting period, although specific details were not disclosed[79]. - The company has ongoing major non-equity investments, but specific details were not provided[80]. Environmental and Social Responsibility - The company traded 2.5 billion kWh of clean energy, an increase of 2.18 billion kWh compared to last year, reducing electricity costs by 170 million RMB and cutting CO2 emissions by 420,000 tons[51]. - The company maintained zero environmental pollution incidents in the first half of 2022, achieving 100% compliance in environmental protection measures[52]. - The company has achieved zero wastewater discharge during non-rainy periods at its Anshan plant[125]. - The company has completed 9 poverty alleviation projects with a planned funding of RMB 16.4 million in 2022, having disbursed RMB 3.1723 million for 4 projects[132]. Corporate Governance - The company maintained compliance with the Hong Kong Stock Exchange Listing Rules regarding the number of independent non-executive directors, having at least three independent directors during the reporting period[105]. - The company has established an audit committee in accordance with the Hong Kong Stock Exchange Listing Rules, which reviewed the accounting standards and the unaudited interim financial report for the six months ending June 30, 2022[106]. - The company has adhered to corporate governance codes and has regularly reviewed its governance practices, ensuring compliance with all applicable rules during the reporting period[110]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 122,349, including 454 H-share holders[173]. - The largest shareholder, Anshan Iron and Steel Group Co., Ltd., holds 53.35% of the shares, totaling 5,016,111,529 shares[174]. - The company completed the repurchase and cancellation of 2,229,750 restricted shares, reducing the total share capital from 9,405,250,201 shares to 9,403,020,451 shares[115]. - The company granted 5,241,400 restricted stocks to 37 incentive targets as part of the 2020 restricted stock incentive plan[168]. Risks and Challenges - The company faces significant operational risks due to global inflation and economic downturns, which have led to increased steel inventory and declining prices[101]. - The company anticipates potential risks related to mismatches between future repurchase amounts and hedging amounts, with strategies in place to manage these risks[87]. - The company has conducted a thorough assessment of legal risks associated with derivative investments, ensuring compliance with national regulations[85].