MAS C.L.(SH:600808)2016-03-30 16:00Financial Performance - In 2015, the company's operating revenue was CNY 45.11 billion, a decrease of 24.59% compared to CNY 59.82 billion in 2014[18]. - The net profit attributable to shareholders was a loss of CNY 4.80 billion, a significant decline from a profit of CNY 220.62 million in 2014, representing a decrease of 2,277.67%[18]. - The total profit for 2015 was a loss of RMB 4,727 million, compared to a profit of RMB 512 million in 2014[26]. - The net profit for 2015 was a loss of RMB 5,104 million, down from a profit of RMB 264 million in 2014[26]. - Basic earnings per share were -CNY 0.624, a decrease of 2,251.72% from CNY 0.029 in 2014[19]. - The weighted average return on equity was -23.01%, a decrease of 23.96 percentage points from 0.95% in 2014[19]. - The company's operating revenue decreased by 24.59% year-on-year to RMB 45,108.93 million, primarily due to the decline in steel product prices in 2015[45]. - The gross margin in the steel industry decreased by 6.34 percentage points, with steel revenue of RMB 42,853 million, representing a 24.08% decline year-on-year[50]. - The company reported a net loss of RMB 644 million for Ma Steel (Hefei) Steel Co., with total assets of RMB 4,784 million and net assets of RMB 2,672 million[76]. - The company reported a net loss of RMB 19.5 million for the reporting period, with total assets of RMB 345 million and net assets of RMB 136 million[81]. Assets and Liabilities - The company's total assets decreased by 8.84% to CNY 62.45 billion at the end of 2015, down from CNY 68.51 billion at the end of 2014[18]. - The net assets attributable to shareholders decreased by 20.78% to CNY 18.46 billion at the end of 2015, compared to CNY 23.30 billion at the end of 2014[18]. - The total liabilities at the end of 2015 were RMB 41,713 million, a slight decrease from RMB 42,622 million in 2014[26]. - The company's debt-to-asset ratio increased by 4.58 percentage points to 66.79%[35]. - The company's total equity decreased from CNY 25.89 billion to CNY 20.74 billion, a decline of approximately 19.9%[197]. - The company's long-term borrowings increased from CNY 6.34 billion to CNY 6.66 billion, an increase of about 5.1%[197]. Cash Flow - The net cash flow from operating activities was CNY 5.87 billion, an increase of 101.36% compared to CNY 2.91 billion in 2014[18]. - The company reported a net cash flow from operating activities of RMB 5,865.33 million, a significant increase of 101.36% year-on-year[45]. - The cash flow from investment activities showed a net outflow of 3.621 billion RMB, an increase of 373% compared to the previous year[180]. - The company maintained a cash and cash equivalents balance of 3.546 billion RMB, which is a 30.87% increase year-over-year[180]. Production and Sales - The company produced 1,801 million tons of pig iron, a slight increase of 0.22% year-on-year, while crude steel production decreased by 0.30% to 1,882 million tons[42]. - The company exported 12 million tons of steel in 2015, an increase of 19.9% year-on-year, while imports decreased by 11.4%[41]. - The company aims to produce 1,766 million tons of pig iron, 1,860 million tons of crude steel, and 1,768 million tons of steel in 2016, with no significant changes compared to the previous year[80]. Market Conditions - In 2015, the national crude steel output was 804 million tons, a decrease of 2.33% year-on-year, marking the first decline since 1981[34]. - The domestic crude steel apparent consumption was 700 million tons in 2015, down 5.44% year-on-year, with a widening decline of 1.4 percentage points[34]. - The steel price index fell from 81.91 points at the beginning of the year to 56.37 points, a decrease of 31.1%[34]. - The average domestic steel price index for 2015 was 66.43 points, a decline of 27.26 points or 27.26% compared to the previous year[38]. Environmental and Social Responsibility - The company invested nearly RMB 300 million in desulfurization and denitrification projects, successfully reducing sulfur dioxide emissions by 3,510 tons[36]. - The company has made significant progress in environmental performance and was recognized as an advanced enterprise in implementing excellent performance management models[46]. - The company has maintained compliance with environmental regulations, with no major environmental issues reported[109]. - The company’s pollution discharge meets national and local reduction requirements[109]. Governance and Compliance - The company’s board has recommended the reappointment of Ernst & Young Hua Ming as the auditor for the 2015 fiscal year, reflecting confidence in their thorough understanding of the company[90]. - The company has maintained a continuous audit service relationship with Ernst & Young Hua Ming for 22 years as of December 31, 2015[159]. - The company has confirmed compliance with the public shareholding requirements set by the Hong Kong Stock Exchange, ensuring adequate liquidity for its shares[123]. - The company has a structured decision-making process for remuneration, involving the remuneration committee of the board of directors[136]. Employee and Management - The total number of employees in the parent company is 30,195, and the total number of employees in major subsidiaries is 9,237, resulting in a combined total of 39,432 employees[139]. - The company conducted 401 training sessions in 2015, training a total of 31,905 employees, achieving a training completion rate of 92.5%[141]. - The company has established a performance-based salary system for senior management, linking their annual salary to company performance and individual contributions[150]. - The company has experienced changes in senior management, with several individuals resigning due to work changes, including the deputy general manager and board secretary[137].