BSU(SH:600010)2015-10-29 16:00Financial Performance - Operating revenue decreased by 25.89% to CNY 17.48 billion compared to the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 2.27 billion, a decline of 385.11% year-on-year[7] - Basic earnings per share dropped by 156.76% to CNY -0.0567[7] - Total revenue for the third quarter was CNY 5,982,574,655.12, a decrease of 21.5% compared to CNY 7,616,390,510.93 in the same period last year[27] - Year-to-date revenue reached CNY 17,479,182,107.50, down 25.9% from CNY 23,585,271,705.00 in the previous year[27] - Net profit for Q3 2015 was a loss of CNY 877,838,965.64, compared to a profit of CNY 187,152,005.70 in Q3 2014[29] - The company reported a total comprehensive income of CNY -877,682,080.14 for Q3 2015, down from CNY 187,151,055.36 in Q3 2014[30] - The net profit attributable to shareholders of the parent company for Q3 2015 was CNY -870,311,335.31, compared to CNY 187,533,906.28 in Q3 2014[29] - The company reported a total profit before tax loss of CNY 1,384,763,269.99 for Q3 2015, compared to a profit of CNY 19,318,320.98 in Q3 2014[32] Assets and Liabilities - Total assets increased by 40.92% to CNY 148.11 billion compared to the end of the previous year[6] - Net assets attributable to shareholders rose by 143.84% to CNY 49.47 billion year-on-year[6] - Total assets amounted to CNY 148,110,747,751.39, an increase from CNY 105,104,430,417.06 at the beginning of the year[22] - Total liabilities were CNY 98,456,216,139.40, compared to CNY 84,613,836,051.01 at the start of the year, reflecting a growth of 16.5%[22] - Current liabilities totaled CNY 85,144,241,524.11, up from CNY 65,594,030,686.44, indicating a rise of 29.8%[22] - Non-current liabilities decreased to CNY 13,311,974,615.29 from CNY 19,019,805,364.57, a decline of 30.1%[22] - The company’s long-term liabilities due within one year increased as a result of the reclassification of long-term debts[14] Cash Flow - Cash flow from operating activities decreased by 62.00% to CNY 1.23 billion year-to-date[6] - The net cash flow from operating activities for the first nine months of 2015 was CNY 1,232,083,335.80, a decline of 62% compared to CNY 3,242,515,238.06 in the previous year[34] - Total cash inflow from operating activities was CNY 22,531,128,008.56, down from CNY 26,735,676,038.97 year-on-year, representing a decline of 15.5%[36] - Cash outflow from operating activities totaled CNY 21,276,558,720.33, a decrease of 9.5% from CNY 23,500,759,198.52 in the previous year[36] - Cash and cash equivalents increased to CNY 11,776,946,581.34 from CNY 4,696,577,196.59, representing a growth of 150.0%[23] - Cash and cash equivalents at the end of Q3 2015 totaled CNY 7,593,824,315.44, an increase from CNY 4,434,728,233.41 at the end of Q3 2014[35] Shareholder Information - The total number of shareholders reached 591,028 at the end of the reporting period[11] - The largest shareholder, Baotou Steel Group, holds 54.66% of the shares[11] Government and Other Income - Government subsidies recognized in the current period amounted to CNY 652.63 million[8] - The company reported investment income of CNY 17,023,369.92 in Q3 2015, up from CNY 12,966,563.99 in Q3 2014[28] Inventory and Costs - The company’s inventory increased to CNY 17,493,610,750.45 from CNY 16,570,497,632.12, reflecting changes in market conditions[20] - Total operating costs for Q3 2015 amounted to CNY 7,641,244,308.96, up 3.6% from CNY 7,374,634,815.53 in Q3 2014[28] - Operating expenses for Q3 2015 included sales expenses of CNY 205,724,509.13, an increase of 63.5% from CNY 125,976,264.89 in Q3 2014[28] Market Conditions and Future Outlook - The company expects to incur cumulative net losses until the next reporting period due to a sluggish steel market and declining prices[16] - The company reported a significant increase in short-term borrowings, totaling CNY 11,675,715,011.20, compared to CNY 11,147,880,000.00 at the beginning of the year[22]