Financial Performance - Operating revenue for the first half of 2023 was CNY 20.99 billion, an increase of 16.53% year-on-year[4] - Net profit attributable to shareholders for the reporting period was CNY -434.74 million, a decline of 184.18% compared to the same period last year[4] - Basic earnings per share for the reporting period were CNY -0.05, a decrease of 183.33% from CNY 0.06 in the same period last year[4] - The company's net profit for the first half of 2023 was a loss of RMB 515 million, a decrease of RMB 1.15 billion year-on-year[15] - The net profit attributable to the parent company for the first half of 2023 was RMB (434,740,206.19), compared to RMB 516,416,390.18 in the same period of 2022, representing a decline of approximately 184%[32] - Total comprehensive income for the first half of 2023 was RMB (434,740,206.19), compared to RMB 516,416,390.18 in the first half of 2022, indicating a significant decrease[32] Assets and Liabilities - Total assets as of June 30, 2023, were CNY 37.95 billion, a decrease of 3.59% compared to the end of the previous year[4] - The company reported a total equity of RMB 20,909,066,001.41 as of June 30, 2023, down from RMB 21,341,917,700.36 at the end of 2022[30] - The total liabilities as of June 30, 2023, were RMB 17,042,303,959.20, a decrease from RMB 18,022,882,702.66 at the end of 2022[29] - The company’s long-term borrowings increased to RMB 4,019,245,100.00 as of June 30, 2023, compared to RMB 2,751,945,100.00 at the end of 2022, indicating a rise in debt financing[29] - The company’s total current liabilities decreased to RMB 11,572,430,182.78 as of June 30, 2023, from RMB 13,062,529,956.71 at the end of 2022[29] Cash Flow - Cash flow from operating activities was CNY 414.52 million, down 55.74% from CNY 936.51 million in the previous year[4] - The net cash flow from operating activities for the first half of 2023 was RMB 414,520,654.04, down from RMB 936,510,963.14 in the first half of 2022[35] - Cash inflows from operating activities in the first half of 2023 amounted to RMB 21,281,122,763.32, an increase from RMB 19,745,939,208.11 in the same period of 2022[35] - Cash outflows from operating activities in the first half of 2023 totaled RMB 20,866,602,109.28, compared to RMB 18,809,428,244.97 in the first half of 2022[35] - Cash flow from investment activities for the first half of 2023 was a net outflow of (340,443,005.21), compared to (1,841,168,179.60) in the same period of 2022, indicating a significant improvement[44] Revenue and Costs - The company's operating costs increased by 25.81% year-on-year, totaling RMB 21.13 billion[14] - The average selling price of commodity billets was RMB 3,736 per ton, a decrease of 17.38% compared to the previous year, resulting in a revenue reduction of RMB 3.69 billion[16] - The sales volume of commodity billets was 5.42 million tons, an increase of 44.70% year-on-year, contributing an additional RMB 7.00 billion in revenue[16] - The gross profit margin for the steel industry was -0.67% in the first half of 2023, a decrease of 7.49% compared to the previous year[20] - The company implemented a cost reduction plan aiming for a reduction of RMB 200 per ton of steel, achieving a cost reduction of RMB 1.18 billion in the process[15] Shareholder Information - The total number of shareholders as of the reporting period was 167,651[5] - The largest shareholder, Chongqing Changshou Iron & Steel Co., Ltd., held 23.51% of the shares[6] - The company did not declare any interim dividends for the first half of 2023 due to accumulated undistributed profits remaining negative[23] Research and Development - Research and development expenses for the first half of 2023 were RMB 14,557,677.64, significantly lower than RMB 104,831,842.92 in the same period of 2022, indicating a reduction in R&D investment[31] - Research and development expenses significantly decreased to RMB 14.56 million, down 86.1% from RMB 104.83 million in the first half of 2022[40] Financing Activities - The company raised RMB 1,600,000,000.00 from borrowings in the first half of 2023, compared to RMB 395,000,000.00 in the same period of 2022[37] - Net cash outflow from financing activities was (1,081,155,780.23) in the first half of 2023, compared to (2,253,404,676.26) in the same period of 2022, showing a reduction in cash burn[44]
重庆钢铁股份(01053) - 2023 - 中期业绩