BSU(600010)2024-10-30 09:09Financial Performance - The company's operating revenue for Q3 2024 was approximately ¥14.66 billion, a decrease of 18.57% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was a loss of approximately ¥624.54 million, representing a decline of 1,110.78% year-over-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of approximately ¥633.67 million, down 855.68% from the previous year[2]. - The basic earnings per share for Q3 2024 was -¥0.0138, a decrease of 1,085.71% compared to the same period last year[3]. - The diluted earnings per share for Q3 2024 was also -¥0.0138, reflecting the same percentage decline as basic earnings[3]. - The weighted average return on equity for Q3 2024 was -1.21%, a decrease of 1,108.33 percentage points year-over-year[3]. - The net profit for Q3 2024 was reported at -¥695,344,008.22, a significant decline compared to a net profit of ¥41,068,533.12 in Q3 2023[18]. - The operating profit for Q3 2024 was -¥676,711,598.49, contrasting with an operating profit of ¥409,441,395.91 in Q3 2023[18]. - The total comprehensive income for Q3 2024 was -¥693,911,891.96, compared to ¥47,539,213.12 in Q3 2023, reflecting a substantial decrease[19]. - The total operating revenue for the first three quarters of 2024 reached ¥48,328,837,692.56, an increase from ¥42,356,869,766.74 in the same period of 2023, representing a growth of approximately 14.6%[20]. Cash Flow and Investments - The net cash flow from operating activities for Q3 2024 was approximately ¥731.70 million, with no applicable percentage change reported[2]. - The net cash flow from operating activities for Q3 2024 was ¥897,619,923.10, a significant improvement compared to the negative cash flow of ¥1,113,658,265.63 in Q3 2023[21]. - Cash flow from operating activities generated CNY 774.14 million, a significant improvement compared to a negative cash flow of CNY 197.37 million in the same period of 2023[28]. - The net cash flow from investing activities was negative at ¥1,960,808,716.65, worsening from a negative cash flow of ¥754,352,379.56 in Q3 2023[21]. - The cash received from investment income was 8,451,892.50 CNY, compared to 61,633,192.70 CNY in the previous period[30]. Assets and Liabilities - The total assets at the end of Q3 2024 were approximately ¥153.25 billion, an increase of 0.97% compared to the end of the previous year[3]. - The total liabilities stood at CNY 92.41 billion, compared to CNY 90.31 billion at the end of 2023, which is an increase of about 2.33%[16]. - The company's total assets reached CNY 152.57 billion, up from CNY 151.67 billion year-over-year[25]. - Current liabilities decreased to ¥69,591,064,588.37 from ¥73,975,679,716.44, showing a reduction of about 6.5%[24]. - Long-term borrowings rose to ¥17,233,285,028.31 from ¥13,331,392,990.21, reflecting an increase of approximately 29.5%[24]. Shareholder Information - The company repurchased a total of 44.36 million shares, accounting for 0.098% of the total share capital, with a total expenditure of 64.35 million RMB[13]. - The top ten shareholders include Baotou Iron and Steel (Group) Co., Ltd., holding 11,174,971,476 shares, which represents 55.24% of the total shares[9]. - The second largest shareholder is Hong Kong Central Clearing Limited, holding 990,762,112 shares, representing 2.18%[9]. - The company has a significant relationship with China Northern Rare Earth (Group) High-Tech Co., Ltd., which is controlled by Baotou Iron and Steel (Group) Co., Ltd.[9]. - The report indicates that the company is focused on enhancing shareholder value through strategic share repurchases and capital management[13]. Market Conditions - The steel market faced significant challenges in Q3 2024, including high supply, weak demand, and low prices, impacting overall profitability[6]. - The company approved a special action plan titled "Quality Improvement and Efficiency Enhancement" during the board meeting on April 17, 2024[13].