2025-04-29 09:40Financial Performance - The company's operating revenue for Q1 2025 was CNY 19.42 billion, a decrease of 4.74% compared to CNY 20.39 billion in the same period last year[3]. - The net profit attributable to shareholders was a loss of CNY 144.08 million, an improvement from a loss of CNY 310.99 million year-on-year[3]. - The basic and diluted earnings per share were both -CNY 0.02, compared to -CNY 0.04 in the same period last year[3]. - The company's net loss attributable to shareholders decreased by 53.67% year-on-year in the first three months of 2025[10]. - The net profit for the first quarter of 2025 was -107,190,885 RMB, an improvement from -345,636,933 RMB in the same period of 2024, indicating a reduction in losses by approximately 69%[17]. - The total comprehensive income for the first quarter of 2025 was -107,049,466 RMB, compared to -353,833,302 RMB in the first quarter of 2024, reflecting a significant decrease in overall losses[17]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 264.56 million, a significant recovery from a negative cash flow of CNY 1.31 billion in the previous year[3]. - Operating cash flow for the first quarter of 2025 was 264,555,584 RMB, a turnaround from -1,307,684,219 RMB in the first quarter of 2024, showing a positive cash flow shift[20]. - The company’s cash and cash equivalents increased to approximately RMB 6.94 billion as of March 31, 2025, compared to RMB 6.43 billion at the end of 2024[13]. - Total cash and cash equivalents at the end of the first quarter of 2025 amounted to 4,364,094,631 RMB, up from 3,790,025,067 RMB at the end of the first quarter of 2024[20]. - Cash inflow from financing activities in the first quarter of 2025 was 6,576,366,804 RMB, an increase from 5,652,273,785 RMB in the first quarter of 2024[20]. - The company reported a decrease in cash outflow from operating activities, totaling 17,683,724,039 RMB in the first quarter of 2025, down from 20,261,462,308 RMB in the same period of 2024[20]. - The company reported a net cash outflow from investing activities of -488,787,562 RMB in the first quarter of 2025, slightly better than -519,459,483 RMB in the first quarter of 2024[20]. Operational Efficiency - The company plans to continue focusing on cost reduction and improving operational efficiency in response to fluctuating raw material prices[6]. - The total operating costs for Q1 2025 were approximately RMB 19.63 billion, down from RMB 20.86 billion in Q1 2024, indicating a year-on-year decrease of 5.93%[16]. - The company achieved a monthly average pig iron output of 42,500 tons in March 2025, with a fuel ratio decrease of 10 kg and a pig iron cost reduction of RMB 130 per ton compared to the previous month[10]. - The company’s focus on cost reduction led to a 20.2% year-on-year increase in sales volume of key steel products and a 17.7% increase in automotive plate sales[11]. Shareholder Information - The company reported a total of 135,680 ordinary shareholders at the end of the reporting period[8]. - The largest shareholder, Ma Steel (Group) Holding Co., Ltd., held 48.35% of the shares, totaling approximately 3.73 billion shares[9]. Asset and Liability Management - Total assets at the end of the reporting period were CNY 78.53 billion, a slight decrease of 0.54% from CNY 78.96 billion at the end of the previous year[3]. - The total liabilities decreased slightly to approximately RMB 51.31 billion as of March 31, 2025, from RMB 51.64 billion at the end of 2024[14]. - The company’s total assets amounted to approximately RMB 78.53 billion as of March 31, 2025, down from RMB 78.96 billion at the end of 2024[14]. Production Metrics - In Q1 2025, the company produced 4.57 million tons of pig iron, 5.15 million tons of crude steel, and 4.90 million tons of finished steel products, representing year-on-year increases of 1.68%, 4.99%, and 5.18% respectively[10]. - The company completed the transfer of its main steel assets to Maanshan Iron & Steel Co., Ltd. on February 28, 2025, with Maanshan achieving a net profit of RMB 41 million in March 2025[11].