JSHX(SH:600307)2025-04-29 11:53Financial Performance - The company's operating revenue for Q1 2025 was ¥6,781,676,648.75, a decrease of 17.37% compared to ¥8,206,867,298.88 in the same period last year[3] - The net profit attributable to shareholders was -¥444,203,857.21, improving from -¥519,092,875.05 year-on-year[3] - The net cash flow from operating activities was -¥1,312,945,482.40, compared to -¥856,104,993.66 in the previous year[3] - Total operating revenue for Q1 2025 was CNY 6,781,676,648.75, a decrease of 17.4% compared to CNY 8,206,867,298.88 in Q1 2024[12] - Net loss for Q1 2025 was CNY 444,203,857.21, compared to a net loss of CNY 519,092,875.05 in Q1 2024, showing an improvement of 14.4%[12] - The company reported a basic and diluted earnings per share of CNY -0.0709 for Q1 2025, an improvement from CNY -0.0829 in Q1 2024[13] Assets and Liabilities - Total assets increased by 7.74% to ¥50,839,304,853.35 from ¥47,187,699,382.09 at the end of the previous year[3] - The company's equity attributable to shareholders decreased by 5.58% to ¥7,137,439,355.08 from ¥7,559,374,278.30 at the end of the previous year[3] - Total assets rose to CNY 50,839,304,853.35 as of March 31, 2025, up from CNY 47,187,699,382.09 at the end of 2024, indicating a growth of 5.6%[10] - Total liabilities increased to CNY 43,701,865,498.27 as of March 31, 2025, compared to CNY 39,628,325,103.79 at the end of 2024, marking an increase of 10.5%[10] Cash Flow - The company's cash and cash equivalents decreased to CNY 2,876,868,678.95 as of March 31, 2025, from CNY 3,039,802,508.02 at the end of 2024[9] - In Q1 2025, the cash inflow from operating activities was CNY 7,878,074,416.36, an increase of 26% compared to CNY 6,253,435,718.30 in Q1 2024[15] - The net cash flow from operating activities was -CNY 1,312,945,482.40, worsening from -CNY 856,104,993.66 year-over-year[15] - Cash outflow from investment activities totaled CNY 1,481,716,449.50, up from CNY 891,828,866.70 in the previous year, resulting in a net cash flow of -CNY 1,479,716,449.50[16] - Cash inflow from financing activities increased significantly to CNY 8,697,220,000.00, compared to CNY 4,223,850,000.00 in Q1 2024, leading to a net cash flow of CNY 2,423,621,802.98[16] - The total cash and cash equivalents at the end of Q1 2025 were CNY 1,264,370,931.84, a decrease from CNY 617,957,490.75 in Q1 2024[16] Inventory and Receivables - Accounts receivable and financing increased by 174.25%, primarily due to changes in the sales collection structure of steel products[4] - Inventory rose by 40.25%, mainly due to lower steel production and sales rates during the period[4] - Inventory increased significantly to CNY 6,774,025,327.95 as of March 31, 2025, compared to CNY 4,829,914,943.04 at the end of 2024, reflecting a rise of 40.3%[9] Investments and R&D - Investment income surged by 409.54%, attributed to increased net profits from long-term investments accounted for using the equity method[4] - The company is focusing on research and development of new energy steel, with development expenditures increasing by 30%[4] - Research and development expenses for Q1 2025 were CNY 254,941,275.92, slightly up from CNY 244,002,313.68 in Q1 2024, reflecting a 4.0% increase[12] Shareholder Information - The largest shareholder, Jiuquan Iron and Steel (Group) Co., Ltd., holds 58.79% of the shares[8] Borrowings and Debt - Long-term borrowings increased to CNY 13,419,271,762.55 as of March 31, 2025, from CNY 10,055,522,000.00 at the end of 2024, representing a rise of 33.5%[10] - The company received CNY 6,686,970,000.00 in borrowings during Q1 2025, up from CNY 3,543,850,000.00 in the same period last year[16] - The company paid CNY 4,134,900,000.00 to repay debts in Q1 2025, an increase from CNY 3,110,800,000.00 in Q1 2024[16] Employee Payments - The cash outflow for employee payments was CNY 822,973,530.71, slightly down from CNY 911,529,264.94 year-over-year[15]