SHANDONG STEEL(SH:600022)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥23,046,182,033.87, a decrease of 19.01% compared to the same period last year[5]. - The net profit attributable to shareholders of the listed company was -¥830,789,330.89, representing a decline of 210.53% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥848,139,610.17, down 221.37% from the previous year[5]. - Basic earnings per share for the quarter were -¥0.0759, a decrease of 210.48% compared to the same period last year[8]. - Total operating revenue for the first three quarters of 2022 was CNY 76.60 billion, a decrease of 12.2% compared to CNY 87.29 billion in the same period of 2021[27]. - Net profit for the first three quarters of 2022 was CNY 965.28 million, a significant decrease of 78.0% from CNY 4.40 billion in the same period of 2021[27]. - The company’s total profit for the first three quarters of 2022 was CNY 1.40 billion, a decrease of 74.7% from CNY 5.53 billion in 2021[27]. - Earnings per share for the first three quarters of 2022 were CNY 0.025, down from CNY 0.2607 in the same period of 2021[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥69,260,212,584.95, a decrease of 4.53% from the end of the previous year[8]. - As of September 30, 2022, total assets decreased to CNY 69.26 billion from CNY 72.55 billion as of December 31, 2021, representing a decline of approximately 4.2%[21]. - Current assets decreased to CNY 16.29 billion from CNY 20.09 billion, a reduction of about 18.5% year-over-year[21]. - Cash and cash equivalents dropped to CNY 7.70 billion, down 21.7% from CNY 9.83 billion in the previous year[21]. - Total liabilities decreased to CNY 37.89 billion from CNY 39.95 billion, reflecting a decline of approximately 5.2%[23]. - Short-term borrowings were CNY 5.81 billion, down from CNY 6.17 billion, indicating a decrease of about 5.9%[23]. - Accounts payable decreased to CNY 9.81 billion from CNY 10.08 billion, a decline of approximately 2.7%[23]. - The company's equity attributable to shareholders decreased to CNY 21.56 billion from CNY 21.93 billion, a reduction of about 1.7%[23]. - The company reported a decrease in inventory to CNY 5.66 billion from CNY 6.11 billion, a decline of approximately 7.4%[21]. Cash Flow and Expenses - The net cash flow from operating activities for the year-to-date was ¥4,429,736,161.39, down 21.56% compared to the same period last year[5]. - Cash flow from operating activities for the first three quarters of 2022 was CNY 4.43 billion, down 21.5% from CNY 5.65 billion in 2021[31]. - The company received CNY 69.27 billion in cash from sales of goods and services, a slight decrease from CNY 69.74 billion in 2021[31]. - Research and development expenses for the first three quarters of 2022 amounted to CNY 1.60 billion, a decrease of 8.0% compared to CNY 1.74 billion in 2021[27]. - The company reported a decrease in financial expenses, totaling CNY 328.34 million in 2022 compared to CNY 559.83 million in 2021, reflecting a reduction of 41.2%[27]. Market Strategy - The company reported a significant decline in profitability due to adverse factors such as international conditions, the pandemic, and supply chain disruptions[9]. - The company plans to focus on market expansion and new product development in the upcoming quarters[22]. - The company is actively exploring potential mergers and acquisitions to enhance its market position and operational capabilities[22].