BYIS(600581)2025-04-25 12:05Financial Performance - The company's operating revenue for Q1 2025 was CNY 3,511,106,913.28, representing a 0.60% increase compared to CNY 3,490,035,219.09 in the same period last year[4]. - The net profit attributable to shareholders was a loss of CNY 369,901,989.80, an improvement from a loss of CNY 411,807,941.08 in the previous year[4]. - The basic and diluted earnings per share were both reported at CNY -0.240, an improvement from CNY -0.267 in the same period last year[4]. - Operating profit for Q1 2025 was -CNY 354,555,109.98, an improvement from -CNY 396,684,430.61 in Q1 2024, reflecting a reduction in losses of approximately 10.6%[21]. - Net profit for Q1 2025 was -CNY 370,303,798.12, compared to -CNY 413,408,381.11 in Q1 2024, showing a decrease in losses by about 10.4%[22]. - Total operating revenue for Q1 2025 was approximately ¥3.39 billion, a slight decrease from ¥3.46 billion in Q1 2024, representing a decline of about 1.9%[33]. - Net profit for Q1 2025 was a loss of approximately ¥327.16 million, compared to a loss of ¥339.31 million in Q1 2024, showing an improvement of about 3.4%[33]. Cash Flow - The net cash flow from operating activities decreased significantly by 517.42%, resulting in a negative cash flow of CNY 605,605,904.71, compared to a positive cash flow of CNY 145,081,443.30 in the same period last year[4][8]. - Cash flow from operating activities in Q1 2025 was CNY 5,424,931,961.15, an increase from CNY 5,084,639,821.36 in Q1 2024, representing a growth of approximately 6.7%[24]. - Cash flow from operating activities for Q1 2025 was negative at approximately ¥618.78 million, a significant decline from a positive cash flow of ¥64.26 million in Q1 2024[34]. - Cash flow from investing activities in Q1 2025 was negative at approximately ¥162.87 million, compared to a larger negative cash flow of ¥256.53 million in Q1 2024, indicating a reduction in cash outflow[35]. - Cash flow from financing activities for Q1 2025 was positive at approximately ¥756.77 million, a turnaround from a negative cash flow of ¥302.81 million in Q1 2024[35]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 30,336,299,690.44, reflecting a 1.73% increase from CNY 29,819,478,769.37 at the end of the previous year[5]. - The total liabilities decreased from RMB 23,253,130,481.23 to RMB 22,522,285,230.77, a reduction of approximately 3.15%[17]. - Total liabilities as of the end of the reporting period were CNY 30,557,065,861.42, up from CNY 29,694,286,222.00, indicating an increase of about 2.9%[18]. - The total equity attributable to shareholders of the parent company was -CNY 282,975,539.05, a decline from CNY 62,882,381.99 in the previous year[18]. - The company reported a total equity of -198,669,062.16 RMB, down from 128,288,295.58 RMB in the previous year[29]. - The company's total liabilities increased to 27,766,117,662.85 RMB from 27,251,095,305.83 RMB, indicating a rise of approximately 1.9%[29]. Inventory and Receivables - Inventory levels rose significantly to RMB 2,598,854,111.14, up from RMB 2,042,941,490.40, indicating an increase of approximately 27.2%[16]. - The company reported a significant increase in accounts receivable, which rose to RMB 653,724,908.24 from RMB 328,792,443.01, marking a growth of approximately 98.5%[16]. - The company’s inventory increased to 2,341,640,738.72 RMB from 1,864,903,749.18 RMB, indicating a growth of approximately 25.5%[27]. Research and Development - The company reported a significant increase in R&D expenses, which rose to CNY 7,989,078.03 in Q1 2025 from CNY 2,396,503.37 in Q1 2024, reflecting a growth of approximately 233.5%[21]. - Research and development expenses increased significantly to approximately ¥7.99 million in Q1 2025, compared to ¥2.40 million in Q1 2024, indicating a focus on innovation[33]. Market Conditions and Strategy - The overall market conditions in Q1 2025 were characterized by supply exceeding demand, leading to pressures on the steel industry, including weakened demand, falling prices, and rising costs[8]. - The company continues to face multiple pressures in the steel industry, impacting its financial performance and outlook[8]. - The company is implementing a dual-wheel drive strategy to enhance product structure and optimize market responsiveness, focusing on differentiated R&D to increase product value[13]. - A dynamic pricing mechanism is being established based on cost linkage and market competition to improve operational efficiency[13]. - The company is accelerating the development of its own iron and coal mines to strengthen its supply chain and reduce costs[13]. - The company is committed to sustainable development through quality improvement initiatives and green transformation, aiming to solidify its market leadership while expanding into overseas markets[13].