凌钢股份(600231) - 2021 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2021 reached ¥7,473,419,489.38, an increase of 38.28% compared to the same period last year[4] - Net profit attributable to shareholders was ¥328,345,330.74, reflecting a year-on-year growth of 22.14%[4] - The net profit after deducting non-recurring gains and losses was ¥313,151,255.62, up 16.77% year-on-year[4] - The basic earnings per share for the period was ¥0.12, representing a 20.00% increase compared to the previous year[4] - The diluted earnings per share was ¥0.11, an increase of 22.22% year-on-year[7] - The weighted average return on equity was 3.53%, an increase of 12.23 percentage points compared to the previous year[7] - Total revenue for the first three quarters of 2021 reached ¥20,079,162,790.05, an increase from ¥14,652,501,148.81 in the same period of 2020, representing a growth of approximately 37.5%[33] - Operating profit for the first three quarters of 2021 was ¥1,438,303,973.00, significantly higher than ¥570,308,710.56 in the previous year, reflecting an increase of approximately 152.5%[33] - The total profit for the period reached ¥1,436,603,307.01, compared to ¥565,887,963.17 in the previous period, indicating a significant increase[34] - Net profit attributable to the parent company was ¥1,094,320,564.99, up from ¥420,797,644.56, reflecting a growth of approximately 160%[34] - Basic earnings per share increased to ¥0.39 from ¥0.15, representing a rise of 160%[34] Assets and Liabilities - Total assets at the end of the period amounted to ¥18,958,192,642.25, up 18.52% from the end of the previous year[7] - The total assets of the company amounted to ¥18,958,192,642.25, up from ¥15,995,943,735.33, marking an increase of about 18.3%[31] - Current assets totaled ¥9,525,234,370.09, compared to ¥6,672,158,192.98 in the previous year, showing a growth of approximately 42%[31] - Total liabilities increased to ¥9,537,237,788.22 from ¥7,719,152,258.27, representing a rise of about 23.5%[31] - The company reported a decrease in long-term liabilities, which totaled ¥685,363,287.27 compared to ¥899,894,263.04 in the previous year, reflecting a reduction of about 24%[31] - The equity attributable to shareholders increased to ¥9,420,954,854.03 from ¥8,276,791,477.06, showing a growth of approximately 13.8%[31] - Total current liabilities were approximately $6.82 billion, including accounts payable of approximately $1.41 billion and short-term borrowings of approximately $937.5 million[48] - Total non-current liabilities amounted to approximately $899.89 million, with long-term borrowings at approximately $169.97 million[48] - Total liabilities of the company were approximately $7.72 billion[48] - Total equity attributable to shareholders was approximately $8.28 billion, with undistributed profits of approximately $4.01 billion[51] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥1,091,093,193.92, a decrease of 36.19% compared to the same period last year[11] - Cash flow from operating activities amounted to ¥18,024,294,759.93, compared to ¥12,926,572,365.97 in the same period last year, showing an increase of about 39%[38] - The company reported a total cash inflow from operating activities of ¥18,024,294,759.93, while cash outflow was ¥16,933,201,566.01, resulting in a net cash inflow of ¥1,091,093,193.92[38] - Cash flow from investing activities resulted in a net outflow of ¥130,275,718.59, an improvement from a net outflow of ¥346,348,331.79 in the previous year[40] - Cash flow from financing activities showed a net outflow of ¥266,270,667.44, compared to a net inflow of ¥155,464,231.07 in the same period last year[40] - The cash and cash equivalents at the end of the period totaled ¥2,261,306,466.57, an increase from ¥2,110,764,836.34 at the end of the previous period[40] Related Party Transactions - The company reported a total of RMB 50 billion in guarantees provided to its controlling shareholder, Lingyuan Steel Group, with a cumulative guarantee balance of RMB 33.04 billion as of September 2021[15] - Lingyuan Steel Group accounted for 25.20% of the total related party transactions, with a transaction amount of RMB 1,527,349,246.19 for iron concentrate purchases[15] - The company purchased scrap steel from Lingyuan Steel Group, which constituted 99.97% of the total related party transaction amount, totaling RMB 1,455,337,108.27[15] - The average price for purchasing coke from Lingyuan Steel Group was RMB 2,792.72, with a total transaction amount of RMB 1,199,070,124.05, representing 24.00% of related party transactions[15] - The company engaged in significant related party transactions, including purchasing electricity at a market price of RMB 0.52, totaling RMB 919,078,519.92, which accounted for 95.93% of the related party transaction amount[15] - The company reported a total of RMB 80,049,550.00 for the purchase of circulating water from Lingyuan Steel Group, which was priced at RMB 1.25[15] - The company has a significant reliance on Lingyuan Steel Group for various raw materials, with total purchases exceeding RMB 5 billion across multiple categories[15] Shareholder and Financing Activities - The total number of ordinary shareholders at the end of the reporting period was 50,835[12] - The company’s major shareholders include Lingyuan Steel Group, holding 1,012,999,876 shares, representing a significant portion of the total shares outstanding[14] - The controlling shareholder converted ¥15,135.8 million of convertible bonds into 55,039,270 shares, increasing their ownership stake to 35.84%[20] - The company is currently in the process of issuing corporate bonds, with related materials under review by the Shanghai Stock Exchange[20] - The company has engaged in financing and securities lending activities through Tianjin Taiyue Investment Management Co., which transferred 22 million shares for margin trading[14] - The company has engaged in share pledges, with significant portions of shares pledged to secure financing, indicating a strategic move to manage liquidity[20] Operational Changes - The company approved a capital increase of ¥300 million for its wholly-owned subsidiary, reflecting its commitment to expanding operations[22] - The company’s subsidiary halted the construction of a coking project, which may impact future operational capabilities[23] - The company is actively pursuing market expansion and investment opportunities, as evidenced by its recent board approvals for various financial maneuvers[22] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥7,194,548.57, up from ¥5,161,923.38 in 2020, indicating an increase of approximately 39.2%[33] New Standards and Adjustments - The company implemented new leasing standards effective January 1, 2021, impacting retained earnings and related financial statement items[51] - The company reported a decrease in fixed assets by approximately $781.48 million due to adjustments related to the new leasing standards[45]