MAS C.L.(SH:600808)2024-10-30 09:07Financial Performance - The company's operating revenue for Q3 2024 was CNY 18,505,734,094, a decrease of 25.79% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was a loss of CNY 1,390,086,397, representing a decline of 318.00% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was a loss of CNY 1,385,766,514, down 321.28% year-on-year[2]. - The basic earnings per share for Q3 2024 was -0.1805 CNY, a decrease of 320.93% year-on-year[2]. - The weighted average return on net assets was -5.36%, a decrease of 7.71 percentage points compared to the same period last year[2]. - The net loss attributable to shareholders for the first nine months was approximately RMB 2.54 billion, indicating continued financial pressure despite efforts to improve operational efficiency[9]. - The net profit for Q3 2024 was -2,761,034,549 CNY, compared to -1,844,672,073 CNY in Q3 2023, reflecting a significant increase in losses[15]. - The operating profit for Q3 2024 was -2,614,087,627 CNY, worsening from -1,745,577,508 CNY in Q3 2023[15]. - The total comprehensive income for Q3 2024 was -2,782,307,762 CNY, compared to -1,828,799,602 CNY in Q3 2023[15]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 81,391,097,583, a decrease of 3.74% from the end of the previous year[3]. - The equity attributable to shareholders at the end of the reporting period was CNY 25,230,624,013, down 9.14% from the end of the previous year[3]. - The company's total assets decreased to approximately RMB 81.39 billion from RMB 84.55 billion at the end of 2023[12]. - The total liabilities amounted to approximately RMB 51.88 billion, slightly down from RMB 52.27 billion at the end of 2023[12]. - The company’s total liabilities increased, with borrowings received amounting to 11,870,618,114 CNY in Q3 2024, compared to 8,469,437,709 CNY in Q3 2023[18]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 2,549,554,855, an increase of 38.65% year-on-year[2]. - The cash flow from operating activities for the first nine months of 2024 was 2,549,554,855 CNY, an increase from 1,838,826,621 CNY in the same period of 2023[17]. - Cash and cash equivalents as of September 30, 2024, were approximately RMB 6.91 billion, an increase from RMB 5.57 billion at the end of 2023[10]. - The cash and cash equivalents at the end of Q3 2024 amounted to 5,624,202,808 CNY, up from 4,911,069,148 CNY at the end of Q3 2023[18]. - The investment activities generated a net cash outflow of -724,931,666 CNY in the first nine months of 2024, contrasting with a net inflow of 2,651,558,093 CNY in the same period of 2023[18]. Production and Sales - The company experienced a decline in steel prices and sales volume due to weak downstream demand, impacting revenue significantly[4]. - For the first three quarters of 2024, the total operating revenue was approximately RMB 61.51 billion, a decrease of 16.7% compared to RMB 73.92 billion in the same period of 2023[13]. - The total operating costs for the same period were about RMB 64.19 billion, down from RMB 75.54 billion, reflecting a reduction of 15.0%[13]. - Steel production for the first three quarters was 13.22 million tons, a decrease of 8.12% year-on-year, while crude steel production was 14.41 million tons, down 8.39%[9]. - The average domestic steel price index decreased by 7.71% year-on-year, contributing to the challenging market conditions faced by the company[9]. Research and Development - Research and development expenses for the first three quarters were approximately RMB 780.58 million, a decrease from RMB 914.29 million in the same period last year[13]. - The company is focusing on enhancing production efficiency and reducing costs in response to the ongoing market downturn[9]. Non-Recurring Items - The company reported non-recurring gains and losses totaling -4,319,883 CNY for the current period[3]. - The company incurred interest expenses of 463,116,821 CNY in Q3 2024, compared to 370,988,740 CNY in Q3 2023[15].