XSS(SH:600117)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥1,634,361,686.55, a decrease of 50.26% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥300,363,678.41, representing a decline of 148.12% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥295,903,876.03, down 230.92% from the previous year[4]. - The net profit for the reporting period was down 770.15 million RMB, influenced by the economic downturn in the steel industry and increased R&D expenses[12]. - The company reported a net loss of CNY -1,062,589,763.68 for the first three quarters of 2022, compared to a loss of CNY -73,549,222.89 in the same period of 2021[29]. - The net profit attributable to the parent company was -715,603,602.31 CNY, compared to -217,718,167.97 CNY in the previous year, reflecting a significant decline[34]. - Total comprehensive income amounted to -1,066,084,774.29 CNY, compared to -122,517,764.37 CNY in the previous year[34]. Assets and Liabilities - The total assets at the end of the reporting period were ¥17,421,827,130.21, a decrease of 5.95% from the end of the previous year[7]. - The total assets decreased from CNY 18,524,963,007.83 in the previous year to CNY 17,421,827,130.21, reflecting a reduction of approximately 6%[24]. - Current liabilities totaled CNY 11,512,749,486.84, down from CNY 13,781,558,359.87, showing a decrease of about 16.5%[24]. - Non-current liabilities increased from CNY 2,556,584,543.41 to CNY 4,789,793,928.11, representing an increase of approximately 87.2%[24]. - The company's total equity decreased from CNY 2,186,820,104.55 to CNY 1,119,283,715.26, a decline of about 48.9%[24]. - The equity attributable to shareholders was -¥422,387,002.52, a significant decline of 250.31% compared to the previous year[7]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥371,046,452.29, down 49.40% year-on-year[4]. - Cash flow from operating activities showed a net outflow of 49.40 million RMB, mainly due to decreased sales volume and prices[12]. - Cash inflow from financing activities was 6,376,533,753.62 CNY, compared to 8,024,476,372.47 CNY in the previous year[38]. - The cash outflow from financing activities totaled 6,720,138,626.57 CNY, down from 8,771,325,959.58 CNY in the previous year[38]. - The net cash outflow from investing activities was -53,230,191.57 CNY, compared to -49,944,456.23 CNY in the previous year[38]. - The company experienced a decrease in cash flow from operating activities, indicating potential challenges in revenue generation[38]. Research and Development - Research and development expenses increased by 38.65%, primarily due to investments aimed at improving product quality and optimizing production processes[10]. - The company reported a significant increase in R&D expenses to improve product quality and optimize production processes[12]. - Research and development expenses for the first three quarters of 2022 were CNY 358,534,114.46, compared to CNY 258,590,439.84 in 2021, indicating an increase of approximately 38.7%[29]. - The company plans to continue focusing on product quality improvement and technological advancements in response to market challenges[10]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,183[13]. - The largest shareholder, Xining Special Steel Group Co., Ltd., holds 35.37% of the shares, with 369,669,184 shares pledged[13]. Inventory and Current Assets - Total current assets decreased to 6.81 billion RMB from 7.55 billion RMB year-on-year[19]. - Inventory as of September 30, 2022, was 2.07 billion RMB, down from 2.27 billion RMB in the previous year[19].