2015-10-27 16:00Financial Performance - Operating revenue for the first nine months was CNY 34,726,380,000, a decrease of 21.85% year-on-year[7] - Net loss attributable to shareholders was CNY 2,575,382,000, compared to a loss of CNY 326,318,000 in the same period last year[7] - The company reported a net loss attributable to shareholders of 2,575,382,047 RMB, an increase in loss of 689.22% compared to the previous year, primarily due to a significant decline in gross sales margin[13] - The company's gross profit margin for the nine months ended September 30, 2015, was negative, indicating a challenging market environment[25] - The company experienced a decrease in cash inflows from sales, which amounted to RMB 38,070,596,190 for the nine months ended September 30, 2015, down from RMB 51,660,086,483 in the same period of 2014[27] Assets and Liabilities - Total assets decreased by 4.71% to CNY 65,284,300,000 compared to the end of the previous year[7] - Net assets attributable to shareholders decreased by 11.23% to CNY 20,679,109,000 compared to the end of the previous year[7] - The total liabilities as of September 30, 2015, were RMB 42,236,670,144, a slight decrease from RMB 42,621,776,823 at the end of 2014[25] - The company's total current liabilities decreased to RMB 28,925,974,664 from RMB 32,704,550,056 at the end of 2014, reflecting a reduction of 11.0%[25] - The total equity attributable to shareholders decreased to RMB 20,679,108,681 from RMB 23,295,565,989 at the end of 2014, a decline of 11.3%[25] Cash Flow - Cash flow from operating activities increased by 4.13% to CNY 3,033,560,000 compared to the same period last year[7] - The cash flow from operating activities for the nine months ended September 30, 2015, was RMB 3,033,559,698, an increase from RMB 2,913,367,044 in the same period of 2014[27] - The company reported a negative cash flow from operating activities of CNY 2,332,853,428 for the first nine months of 2015, compared to a positive cash flow of CNY 3,960,644,356 in the same period of 2014[40] - Cash outflow from investment activities was 810,422,298 RMB, a decrease of 153.07% compared to the previous year, due to the absence of proceeds from asset disposals[13] Production and Operations - The company produced 1,349,000 tons of pig iron, 1,412,000 tons of crude steel, and 1,374,000 tons of steel from January to September, with year-on-year increases of 0.71%, 0.70%, and 1.51% respectively[11] - The company plans to focus on "seizing orders, securing funds, reducing inventory, and adjusting structure" in the fourth quarter[11] - The company aims to accelerate new product development and mass production[11] Financial Position and Changes - Financial assets measured at fair value decreased to 0 from 1,073,490 RMB, as all such assets were sold during the period[12] - Interest receivables increased by 55.73% to 2,957,308 RMB, primarily due to increased interest from loans issued by the financial company[12] - Construction in progress rose by 29.86% to 3,676,429,072 RMB, driven by investments in new projects such as the 4 blast furnace and 3 sintering machine[12] - Short-term borrowings decreased by 51.73% to 5,820,466,969 RMB, mainly due to the repayment of a 5 billion RMB short-term financing bond[12] - Unallocated profits fell by 74.62% to 875,917,782 RMB, attributed to an increase in net losses attributable to shareholders[13] Shareholder Actions - The controlling shareholder plans to increase their stake in the company by no less than 409 million RMB through a wholly-owned subsidiary[14] Accounting and Reporting - There were no changes in accounting policies or estimates compared to the most recent financial report[43] - The scope of consolidation remained unchanged from the last financial report[43]