BSP(SZ:200761)2024-08-28 12:07Financial Performance - The company's operating revenue for the first half of 2024 was ¥28,364,539,286.80, a decrease of 7.21% compared to ¥30,567,409,205.03 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was -¥1,550,950,137.71, representing a decline of 54.33% from -¥1,004,945,623.68 year-on-year[12]. - The net cash flow from operating activities was ¥1,095,091,396.54, down 76.51% from ¥4,662,637,281.81 in the previous year[12]. - The basic earnings per share were -¥0.3775, a decrease of 54.33% compared to -¥0.2446 in the same period last year[12]. - The company recorded a net profit excluding non-recurring gains and losses of -¥1,621,652,605.92, a decline of 60.99% compared to -¥1,007,279,338.85 in the previous year[12]. - The company reported a net loss of RMB 4.01 billion, compared to a loss of RMB 2.46 billion in the previous year[93]. - The total profit for the first half of 2024 was a loss of RMB 1,472,189,725.96, compared to a loss of RMB 950,225,013.71 in the previous year, indicating a decline of 55.0%[96]. - The company’s investment income showed a loss of RMB 31,605,308.28, worsening from a loss of RMB 2,541,506.30 in the previous year[96]. Assets and Liabilities - Total assets at the end of the reporting period were ¥45,631,488,543.54, a decrease of 1.19% from ¥46,181,979,851.06 at the end of the previous year[12]. - The company's total equity decreased to RMB 16.10 billion from RMB 17.60 billion, a decline of approximately 8.54%[93]. - Total liabilities increased to RMB 29.53 billion from RMB 28.58 billion, an increase of about 3.36%[93]. - The cash and cash equivalents decreased to RMB 1.99 billion from RMB 2.19 billion, a decline of approximately 9.23%[92]. - The total cash outflow for operating activities was RMB 28.89 billion, an increase of 23.5% compared to RMB 23.48 billion in the same period last year[100]. - The total liabilities of the company remain stable, indicating effective management of financial obligations[102]. Production and Sales - In the first half of 2024, the company produced 5.3473 million tons of pig iron, an increase of 318,000 tons year-on-year[16]. - Crude steel production reached 5.7217 million tons, up by 52,900 tons compared to the previous year[16]. - Steel output was 8.5029 million tons, an increase of 365,900 tons year-on-year[16]. - Automotive steel sales reached 1.3818 million tons, increasing by 115,100 tons or 9.09% year-on-year[16]. - The company achieved a 100% delivery rate to automotive manufacturers for four consecutive months[16]. - The total sales revenue for the reporting period reached 1,683,023.06 million CNY, with a significant contribution from various subsidiaries[62]. Investments and R&D - Fixed asset investment for 2024 is planned at ¥1.94 billion, focusing on major technological upgrades and environmental improvements[19]. - Research and development investment remained stable at approximately ¥970.76 million, reflecting a slight increase of 0.09% year-on-year[18]. - The company successfully developed 42 new product grades, including a 700MPa high-strength steel for photovoltaic brackets, contributing to market expansion[19]. Environmental and Social Responsibility - The company faces environmental protection risks due to increased regulatory scrutiny and rising operational costs, with measures in place to enhance green production practices[39]. - The company achieved a clean transportation ratio of 77.07%, with an overall clean transportation and electric vehicle ratio increasing from 68% to 81.75%[47]. - The company paid CNY 13.99 million in environmental protection tax in the first half of 2024[48]. - The company provided 19,000 yuan in assistance to 12 employees in need, demonstrating its commitment to social responsibility[51]. - The company is actively participating in rural revitalization efforts, with 2 employees serving as village secretaries[51]. Corporate Governance and Compliance - The company is committed to maintaining operational independence from its controlling shareholder, Ansteel Group, ensuring no interference in business decisions[52]. - The company has made commitments to avoid unfair transactions with related parties and will compensate for any losses incurred due to violations of these commitments[53]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[55]. - The company has received a warning letter from the China Securities Regulatory Commission due to past issues with material cost disclosures[57]. Financial Management - The company has not engaged in any share repurchase activities during the reporting period[77]. - The total amount of convertible bonds issued is 68,000,000, with a total issuance amount of 6,800,000,000 RMB[88]. - The cumulative conversion amount of convertible bonds reached 1,168,982,900 RMB, accounting for 6.01% of the total shares issued prior to the conversion[88]. - The company’s cash interest coverage ratio decreased by 76.41% to 4.74[90]. - The company’s EBITDA interest coverage ratio was -1.79, a decrease of 176.82% compared to the previous year[90]. Risk Management - The company has outlined risks and countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[3]. - The company is exposed to raw material price and supply risks, with strategies to optimize procurement and reduce costs[39].