LING STEEL(SH:600231)2021-04-29 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.60 RMB per 10 shares to all shareholders, based on the total share capital on the dividend record date [6]. - In 2020, the company distributed cash dividends of 0.60 RMB per 10 shares, amounting to a total of 169,569,522.90 RMB, which represents 30.38% of the net profit attributable to shareholders [124]. - The cash dividend distribution in 2019 was 0.49 RMB per 10 shares, totaling 135,783,060.06 RMB, which accounted for 31.75% of the net profit attributable to shareholders [124]. Financial Performance - The company's operating revenue for 2020 was CNY 20,297,333,479.25, a decrease of 3.88% compared to 2019 [25]. - The net profit attributable to shareholders for 2020 was CNY 603,390,362.51, an increase of 23.67% year-on-year [25]. - The net cash flow from operating activities reached CNY 1,694,047,188.61, representing a 46.49% increase from the previous year [25]. - The basic earnings per share for 2020 was CNY 0.20, up 33.33% from CNY 0.15 in 2019 [26]. - The total assets at the end of 2020 were CNY 15,995,943,735.33, a slight increase of 0.63% compared to the end of 2019 [25]. - The company's net assets attributable to shareholders increased by 6.81% to CNY 8,276,791,477.06 by the end of 2020 [25]. - The company reported a total of CNY 4,286,988,645.12 in revenue for Q1 2020, with a net profit of CNY 4,459,191.16 [29]. - In Q4 2020, the revenue was CNY 5,644,832,330.44, with a net profit of CNY 137,275,591.59 [29]. - The company recorded non-operating losses of CNY 45,317,126.36 due to various factors, including asset disposal losses [30]. - The weighted average return on net assets for 2020 was 6.95%, an increase of 1.31 percentage points from 2019 [26]. - Revenue for the reporting period was CNY 20.297 billion, a decline of 3.88% compared to the previous year, while net profit increased by 30.48% to CNY 558 million [49]. - The company achieved a total asset growth of 0.63% to CNY 15.996 billion, with total liabilities reduced by 5.25% to CNY 7.719 billion, resulting in an asset-liability ratio of 48.26%, down 2.99 percentage points [49]. Operational Performance - The company produced 5.811 million tons of steel, a year-on-year decrease of 1.58%, while iron production increased by 0.32% to 5.4243 million tons [49]. - The company’s steel production capacity includes 5 blast furnaces with a total pig iron capacity of 5.057 million tons and 6 converters with a crude steel capacity of 5.7 million tons [83]. - The company produced 5,758,292.40 tons of hot-rolled steel in the current year, with a revenue of CNY 1,911,040.92 million [86]. - The production volume of welded pipes was approximately 94,956 tons, with a sales volume of 97,353 tons, reflecting a production increase of 6.50% [58]. - Steel pipe production reached 95,000 tons, a year-on-year increase of 6.5%, with revenue of 42,763.17 million RMB, up 6.02% [105][106]. Risk Management - The company has detailed potential risks in its report, including operational and strategic risks [8]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments in its forward-looking statements [7]. - The company faces significant market volatility risks due to the ongoing impact of the COVID-19 pandemic and high iron ore prices, necessitating a focus on optimizing product variety and production efficiency [119]. Environmental Compliance - The company has made significant progress in environmental compliance, completing carbon emission verification and energy consumption inspections [48]. - The company has established a comprehensive information platform integrating research, production, sales, and service, and has developed 13 provincial and ministerial-level scientific achievements and 16 national utility model patents [41]. - The company has been recognized as a "green factory" at both provincial and national levels, leading the industry in achieving ultra-low emissions and zero wastewater discharge [42]. - The company reported zero wastewater discharge during the reporting period [169]. - The company achieved a dust emission of 584.859 tons, particulate matter 5,633.837 tons, sulfur dioxide 2,237.217 tons, and nitrogen oxides 3,838.595 tons during the reporting period, all meeting the discharge permit requirements [169]. - The company operates 91 sets of environmental protection facilities, including 22 wastewater treatment facilities and 69 air pollution control facilities, all in compliance with discharge standards [176]. Corporate Governance - All board members attended the board meeting, ensuring collective responsibility for the report's accuracy [4]. - The company has not faced any situations where more than half of the directors cannot guarantee the report's authenticity [8]. - The company has confirmed that all commitments made are independently enforceable, ensuring the validity of each commitment [127]. - The company has not reported any significant changes in accounting policies or estimates that would affect prior years [130]. - The company has not disclosed any stock incentive plans or employee stock ownership plans during the reporting period [136]. Social Responsibility - The company actively participated in poverty alleviation efforts, implementing targeted measures in collaboration with local governments and communities [158]. - The company has established a three-year poverty alleviation plan, demonstrating its commitment to social responsibility and community support [158]. - The company has invested a total of 94.61 million RMB in poverty alleviation efforts during the reporting period [160]. - A total of 313 individuals have been helped to escape poverty, with 243 of them being registered poor households [163]. - The company has committed to ensuring that all poverty-stricken individuals in its designated assistance areas achieve stable poverty alleviation [164]. Innovation and Development - The company has made substantial progress in technical innovation, with advancements in various steel production processes and the introduction of new technologies that have reached domestic leading levels [41]. - The company has expanded its product range, including the development of 15 personalized products and new grades such as Q235BGQ and Q420MB for specific applications, enhancing its market competitiveness [41]. - The total R&D investment amounted to 463,213,193.10 yuan, representing 2.28% of operating revenue, with 349 R&D personnel, which is 4.52% of the total workforce [66]. Related Party Transactions - The company has provided guarantees totaling 383,081.36 million RMB to shareholders, actual controllers, and their related parties [146]. - The total amount of related transactions with Lingyuan Steel Group for purchasing iron concentrate was approximately CNY 1.85 billion, accounting for 34.17% of similar transaction amounts [139]. - The company continues to rely on Lingyuan Steel Group for essential supplies such as coke and utilities, ensuring operational continuity [141]. - The company has established long-term agreements with Lingyuan Steel Group to manage necessary related transactions [141]. Financing Activities - The company successfully issued CNY 440 million in convertible bonds and has a CNY 1 billion corporate bond project in progress, optimizing its capital structure [48]. - The company received approval for short-term financing bonds from the interbank market association, enhancing its financing capabilities [4]. - The company plans to issue corporate bonds to professional investors, with the proposal approved by the board and shareholders, and the related materials are currently under review [6].