SHANDONG STEEL(SH:600022)2018-10-29 16:00Financial Performance - Net profit attributable to shareholders rose by 125.42% to CNY 2.42 billion for the first nine months of the year[6]. - Operating revenue for the first nine months reached CNY 40.55 billion, reflecting a 14.97% increase year-on-year[6]. - Basic earnings per share increased by 96.53% to CNY 0.2209[6]. - Operating profit for the third quarter was ¥1.15 billion, up 133.3% from ¥493.72 million year-over-year[27]. - Net profit for the third quarter was ¥870.96 million, representing an increase of 80.3% compared to ¥483.23 million in the previous year[28]. - The company reported a net profit of CNY 591.72 million, recovering from a loss of CNY 1.81 billion in the previous year[21]. - The total comprehensive income for the third quarter of 2018 was approximately CNY 597.04 million, compared to CNY 462.98 million in the same period last year, reflecting an increase of about 28.8%[32]. Cash Flow and Financing - The net cash flow from operating activities increased by 91.89% to CNY 2.51 billion compared to the same period last year[6]. - The total cash inflow from financing activities was CNY 11.04 billion, compared to CNY 7.60 billion in the same period last year, indicating a growth of about 45.5%[34]. - The company reported a net cash flow from financing activities of CNY 2.99 billion, compared to a negative cash flow of CNY 1.15 billion in the previous year, indicating a turnaround[34]. - The cash flow from operating activities for the parent company was CNY 1.13 billion, down from CNY 1.56 billion in the same period last year, representing a decrease of approximately 27.3%[35]. - The total cash inflow from financing activities for the parent company was CNY 5.17 billion, compared to CNY 3.97 billion in the previous year, reflecting an increase of about 30.2%[35]. Assets and Liabilities - Total assets increased by 18.79% to CNY 67.72 billion compared to the end of the previous year[6]. - Total liabilities increased to CNY 38.31 billion from CNY 31.18 billion, representing a growth of approximately 22.5% year-over-year[21]. - Current liabilities totaled CNY 29.81 billion, up from CNY 28.93 billion, indicating a rise of about 3%[21]. - Long-term borrowings surged to CNY 5.60 billion, compared to CNY 1.39 billion at the beginning of the year, reflecting a significant increase of approximately 303%[21]. - The company's cash and cash equivalents decreased to CNY 4.01 billion from CNY 5.04 billion, a decline of approximately 20.5%[23]. Shareholder Information - The total number of shareholders reached 319,957 by the end of the reporting period[10]. - The largest shareholder, Jinan Steel Group Co., Ltd., holds 30.22% of the shares, with 3.31 billion shares pledged[10]. - The total equity attributable to shareholders increased to CNY 20.50 billion from CNY 18.08 billion, reflecting a growth of approximately 13.4%[21]. Research and Development - Research and development expenses surged by 146.07% to CNY 108.25 million, reflecting increased investment in R&D[16]. - Research and development expenses increased significantly to ¥80.96 million, up 394.5% from ¥16.33 million in the same quarter last year[27]. Operational Costs - The company reported a total operating cost of ¥14.56 billion, which is a 29.1% increase from ¥11.28 billion in the same period last year[27]. - Tax and additional charges rose by 118.92% to CNY 302.66 million, due to new environmental protection and water resource taxes[16]. Inventory and Receivables - Accounts receivable increased by 156.09% to CNY 6.91 billion due to an increase in bank acceptance bills received from steel sales[13]. - Prepayments rose by 98.71% to CNY 4.37 billion, attributed to increased advance payments for materials and engineering[13]. - The company’s inventory stood at CNY 2.11 billion, slightly up from CNY 2.06 billion, indicating a growth of about 2.5%[23].