FANGDA S.Steel(SH:600507)2015-10-23 16:00Financial Performance - Operating revenue for the first nine months was CNY 6,314,293,157.74, down 27.70% year-on-year[6] - Net profit attributable to shareholders of the listed company was CNY 160,030,665.47, a decline of 63.61% compared to the same period last year[6] - Basic earnings per share decreased by 63.55% to CNY 0.121[7] - The weighted average return on net assets decreased by 9.81 percentage points to 6.31%[7] - The company reported a gross profit margin of approximately 1.0% for the first nine months, down from the previous year's margin[32] - Net profit for the first nine months was CNY 165,109,551.13, down 65.4% from CNY 476,864,755.48 in the previous year[33] - Operating costs for the first nine months were CNY 6,088,144,475.22, a decrease of 25.0% compared to CNY 8,116,322,744.89 last year[32] - Total revenue for the first nine months was CNY 6,314,293,157.74, a decrease of 27.7% compared to CNY 8,733,033,152.63 in the same period last year[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,372,568,212.70, a decrease of 0.02% compared to the end of the previous year[6] - The company's total liabilities reached CNY 7,050,102,958.66, up from CNY 6,141,829,949.50, indicating an increase of about 14.77%[27] - The company's current assets totaled CNY 4,628,206,216.28, an increase from CNY 4,294,718,490.14 at the beginning of the year, reflecting a growth of approximately 7.76%[25] - Current liabilities increased to CNY 5,758,434,852.53 from CNY 5,383,611,550.04, representing an increase of about 6.9%[31] - The company's cash and cash equivalents stood at CNY 1,738,211,441.39, compared to CNY 1,703,509,258.67 at the beginning of the year, representing a growth of approximately 2.03%[25] - The accounts receivable increased to CNY 1,353,760,490.42 from CNY 1,032,999,437.53, marking a significant rise of about 30.11%[25] - The company's inventory decreased to CNY 1,001,585,861.05 from CNY 1,072,431,599.69, reflecting a decline of approximately 6.59%[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 69,610[10] - The largest shareholder, Jiangxi Fangda Steel Group Co., Ltd., held 39.62% of the shares, with 525,433,571 shares pledged[11] - The top ten unrestricted shareholders include Jiangxi Fangda Steel Group Co., Ltd. with 525,433,571 shares and Fang Wei with 198,831,539 shares[12] - The company has committed to not reducing its shareholding in the secondary market for a period of six months from July 9, 2015, to January 9, 2016, to maintain market stability[20] Commitments and Management - The company has commitments to avoid competition from its controlling shareholders, ensuring no substantial competition with the listed company[16] - The company is in the process of completing the equity transfer of four companies by December 31, 2015, as part of its commitment to avoid conflicts of interest[17] - The company has terminated the commitment to inject equity from Tianzi Mountain Iron Mine and other companies, ensuring no competition issues exist[18] - The company is actively managing its shareholder relationships to ensure compliance with regulatory requirements and protect shareholder rights[16] Market Conditions - The overall market conditions in the steel industry remain challenging, impacting product pricing and profitability[14] - The net profit attributable to shareholders decreased year-on-year due to a significant drop in iron ore prices, leading to a loss for the subsidiary Tongda Iron Selection Co., Ltd. compared to the same period last year[14] - The net asset attributable to shareholders also declined year-on-year, primarily due to the implementation of the 2014 profit distribution plan[14]