SHANDONG STEEL(SH:600022)2025-10-24 09:15Financial Performance - The company's operating revenue for the third quarter was CNY 18,022,423,604.47, a decrease of 5.74% compared to the same period last year[5]. - The total profit for the period was CNY 339,997,901.74, while the net profit attributable to shareholders was CNY 127,280,957.66[5]. - The company reported a year-to-date net profit of CNY 139,806,803.60, which represents a decrease of 14.77% compared to the previous year[5]. - For the period of January to September 2025, the company achieved operating revenue of CNY 54.828 billion, a decrease of 14.77% year-on-year[13]. - The total profit for the same period was CNY 632 million, an increase of CNY 2.196 billion compared to the previous year[13]. - The net profit attributable to shareholders was CNY 140 million, an increase of CNY 1.591 billion year-on-year[13]. - Net profit for the first three quarters of 2025 was CNY 487.63 million, a significant recovery from a net loss of CNY 1.58 billion in the same period of 2024[20]. - The gross profit margin improved to 1.4% in 2025 from a negative margin in 2024, indicating a turnaround in profitability[20]. Cash Flow - The cash flow from operating activities increased significantly by 107.45%, amounting to CNY 3,259,486,819.95 year-to-date[9]. - The net cash flow from operating activities reached CNY 3.259 billion, a year-on-year increase of 107.45%[13]. - The company’s cash flow from operating activities for the first three quarters of 2025 showed improvement, reflecting better operational efficiency[22]. - In the first three quarters of 2025, the net cash flow from operating activities was CNY 3,259,486,819.95, an increase of 107.5% compared to CNY 1,571,226,098.75 in the same period of 2024[23]. - Total cash inflow from operating activities decreased to CNY 51,645,659,496.62 in 2025 from CNY 60,139,288,777.59 in 2024, representing a decline of 14.8%[23]. - The total cash inflow from operating activities was impacted by a significant drop in cash received from sales, which fell to CNY 51,214,492,226.44 in 2025 from CNY 59,881,671,737.61 in 2024, a decline of 14.5%[23]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 66,501,337,202.97, reflecting a 0.46% increase from the previous year[6]. - Total liabilities as of September 30, 2025, amounted to CNY 37.99 billion, an increase from CNY 37.24 billion at the end of 2024[18]. - The total equity attributable to shareholders of the parent company was CNY 18.87 billion as of September 30, 2025, slightly up from CNY 18.78 billion at the end of 2024[18]. Shareholder Information - The company has a total of 198,985 common shareholders at the end of the reporting period[10]. - The largest shareholder, Shandong Iron and Steel Group Co., Ltd., holds 40.03% of the shares[11]. - The basic earnings per share for the quarter was CNY 0.0119, compared to CNY 0.0131 for the same period last year[6]. - The company reported a basic and diluted earnings per share of CNY 0.0131 for the first three quarters of 2025, compared to a loss of CNY 0.1361 per share in 2024[21]. Operational Efficiency - The company produced 7.7048 million tons of pig iron and 11.0101 million tons of crude steel during the reporting period[13]. - The gross profit margin increased by 4.97 percentage points compared to the same period last year[13]. - The company reduced comparable costs by CNY 64.39 per ton of steel during the reporting period[14]. - The direct supply ratio to end-users increased by 7.9 percentage points year-on-year[15]. - The company successfully launched a digital transformation project, enhancing 20 core systems by September 30, 2025[15]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 1.20 billion, a decrease of 15.6% from CNY 1.42 billion in 2024[20]. Financing Activities - The cash outflow from financing activities in the first three quarters of 2025 was CNY 8,160,761,980.73, down from CNY 8,857,625,103.37 in 2024, a decrease of 7.8%[24]. - The net cash flow from financing activities was negative CNY 1,645,165,717.79 in 2025, worsening from negative CNY 1,002,229,746.50 in 2024[24]. - The company received CNY 6,515,596,262.94 from borrowings in the first three quarters of 2025, down from CNY 7,621,851,292.54 in 2024, a decrease of 14.5%[23].