SHANDONG STEEL(SH:600022)2022-12-29 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[4]. - The net profit attributable to shareholders of the listed company was -¥755,678,091.06, representing a decline of 200.54% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥773,028,370.34, a decrease of 210.62% compared to the previous year[4]. - The basic earnings per share for Q3 2022 was -¥0.0706, down 202.77% from the same period last year[6]. - 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[24]. - Net profit for the first three quarters of 2022 was CNY 1.04 billion, a significant decrease of 76.4% compared to CNY 4.40 billion in 2021[24]. - The total comprehensive income for the first three quarters of 2022 was CNY 1.04 billion, a decrease of 76.4% from CNY 4.40 billion in 2021[24]. - The company reported a basic earnings per share of CNY 0.0320 for the first three quarters of 2022, down from CNY 0.2607 in the same period of 2021[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥69,335,323,824.78, a decrease of 4.43% from the end of the previous year[6]. - As of September 30, 2022, total assets decreased to CNY 69.34 billion from CNY 72.55 billion as of December 31, 2021, representing a decline of approximately 4.9%[18]. - Current assets decreased to CNY 16.29 billion from CNY 20.09 billion, a reduction of about 18.5% year-over-year[18]. - Inventory decreased to CNY 5.66 billion from CNY 6.11 billion, reflecting a decline of approximately 7.4%[18]. - Total liabilities decreased to CNY 37.89 billion from CNY 39.95 billion, a decrease of about 5.2%[20]. - The company's short-term borrowings decreased to CNY 5.81 billion from CNY 6.17 billion, a decline of approximately 5.9%[20]. - The total equity attributable to shareholders decreased to CNY 21.64 billion from CNY 21.93 billion, a reduction of approximately 1.3%[20]. - The company's cash and cash equivalents decreased to CNY 7.70 billion from CNY 9.83 billion, a decline of about 21.6%[18]. - The company's contract liabilities increased to CNY 3.81 billion from CNY 2.98 billion, an increase of approximately 27.7%[20]. - Long-term borrowings increased to CNY 3.01 billion from CNY 2.65 billion, reflecting an increase of about 13.1%[20]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥4,429,736,161.39, a decrease of 21.56% compared to the same period last year[4]. - 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[28]. - Cash flow from investing activities for the first three quarters of 2022 showed a net outflow of CNY 1.67 billion, compared to a net outflow of CNY 1.77 billion in 2021[28]. - Cash flow from financing activities for the first three quarters of 2022 resulted in a net outflow of CNY 3.27 billion, compared to a net outflow of CNY 2.07 billion in 2021[28]. Operational Challenges - The company reported a significant decline in profitability due to adverse conditions such as international situations, the pandemic, and supply chain disruptions, leading to a sharp drop in steel prices and increased costs[7]. - Non-recurring gains and losses for the reporting period totaled ¥17,350,279.28, with government subsidies contributing ¥33,463,872.00[7]. - The company has not disclosed any new product developments, market expansions, or mergers and acquisitions in this report[15]. Research and Development - Research and development expenses for the first three quarters of 2022 amounted to CNY 1.60 billion, a reduction of 8.0% from CNY 1.74 billion in 2021[24].