Baosteel(SH:600019)2016-01-19 16:00Financial Performance - In 2015, the total operating revenue was 164.13 billion RMB, a decrease of 12.60% compared to the previous year[3] - The total profit for 2015 was 1.79 billion RMB, representing a year-on-year decline of 78%[4] - The net profit attributable to shareholders was 961 million RMB, down 83.40% from the previous year[3] - The basic earnings per share decreased to 0.06 RMB, a drop of 83.40% compared to 0.35 RMB in the previous year[3] - The weighted average return on equity fell to 0.85%, down 4.31 percentage points from 5.16% in the previous year[3] Assets and Financial Position - The total assets at the end of the reporting period were 234.14 billion RMB, an increase of 2.40% from the beginning of the period[3] Market Challenges - The company faced significant challenges due to a 27.3% decline in the domestic steel price index, the lowest in over 20 years[4] - The decrease in profitability was attributed to weak downstream demand and a significant depreciation of the RMB, leading to increased foreign exchange losses[5] - The company reported a sharp contraction in the profit margin due to narrowing price differentials in steel product sales[5] Risk Management - The company proactively switched to short-term financing in USD to mitigate risks associated with the depreciation of the RMB[5]