SHANDONG STEEL(SH:600022)2020-10-29 16:00Financial Performance - Operating revenue for the first nine months reached CNY 63,919,904,178.73, an increase of 20.65% year-on-year[17] - Net profit attributable to shareholders was CNY 587,932,406.90, reflecting a year-on-year growth of 20.10%[17] - Net profit increased by 55.53% to RMB 1,154,732,813.24, driven by improved profitability[31] - The company reported a profit margin increase, with total profit rising by 51.29% to RMB 1,537,548,136.71[31] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 584,635,740.34, a 24.29% increase year-on-year[17] - Basic earnings per share rose to CNY 0.0546, a 22.15% increase from the previous year[17] - The earnings per share (EPS) for the first three quarters of 2020 was CNY 0.0546, compared to CNY 0.0447 in the same period of 2019, representing an increase of about 22.4%[50] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 4,216,100,993.74, up 109.34% compared to the same period last year[17] - Operating cash flow increased by 109.34% to RMB 4,216,100,993.74, due to higher cash receipts from sales[31] - The net cash flow from operating activities for the first three quarters of 2020 was ¥4,216,100,993.74, up from ¥2,014,006,544.74 in 2019, reflecting a growth of 109.0%[60] - In Q3 2020, cash inflows from operating activities reached ¥22,131,919,774.03, up from ¥19,060,083,597.99 in Q3 2019, marking an increase of 10.9%[63] - The net cash flow from operating activities in Q3 2020 was ¥1,350,652,090.17, a turnaround from a loss of -¥248,035,268.50 in Q3 2019[63] Assets and Liabilities - Total assets at the end of the reporting period were CNY 68,998,678,782.73, a decrease of 0.77% compared to the end of the previous year[17] - Total current liabilities rose to ¥31,692,111,305.97 from ¥28,404,205,500.48, reflecting an increase of approximately 8.1% year-over-year[38] - The total liabilities decreased from CNY 19,872,506,833.00 in the previous period to CNY 18,753,657,889.54, a reduction of approximately 5.6%[44] - The company's total assets amounted to CNY 39,057,880,458.72, down from CNY 39,916,635,631.01, indicating a decrease of about 2.2%[44] - Long-term borrowings decreased by 90.14% to RMB 280,000,000.00, due to reclassification of debts maturing within one year[27] Shareholder Information - The total number of shareholders at the end of the reporting period was 273,205[23] - The largest shareholder, Jinan Steel Group Co., Ltd., held 30.26% of the shares, amounting to 3,312,966,194 shares[23] Research and Development - Research and development expenses for the first three quarters of 2020 were CNY 837,977,661.69, up from CNY 666,544,319.71 in the same period of 2019, marking an increase of approximately 25.6%[49] - R&D expenses in Q3 2020 amounted to ¥138.16 million, a 124.5% increase from ¥61.58 million in Q3 2019[54] Investment and Financing - The company reported a non-operating income of CNY 55,428,076.91 for the third quarter[21] - Cash inflows from financing activities were ¥3,886,684,119.35, down 52.0% from ¥8,121,830,800.00 in the same period last year[60] - The net cash flow from financing activities was -¥2,462,830,876.24, compared to -¥307,397,794.47 in 2019, indicating a decline in financing activities[60] Inventory and Receivables - Accounts receivable decreased by 34.02% to RMB 99,251,282.93 due to improved management[27] - Inventory decreased slightly to ¥4,681,388,800.09 from ¥4,894,084,144.39, a decrease of approximately 4.3% year-over-year[37] - Prepayments increased by 48.08% to RMB 829,627,977.14, attributed to higher advance payments for raw materials[27]