LING STEEL(SH:600231)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 5,531,291,081.21, representing a decrease of 8.09% compared to the same period last year[6] - The net profit attributable to shareholders of the listed company was CNY 45,988,853.38, down 63.65% year-on-year[6] - The basic earnings per share for the period was CNY 0.02, reflecting a decline of 50.00% compared to the previous year[7] - Total revenue for Q1 2023 was CNY 5,531,291,081.21, a decrease of 8.06% compared to CNY 6,017,917,041.33 in Q1 2022[21] - Operating profit for Q1 2023 was ¥65,112,483.00, down 63.0% from ¥175,949,708.98 in the same period last year[22] - The total comprehensive income for Q1 2023 was ¥45,988,853.38, reflecting a decrease of 63.7% from ¥126,532,977.31 in Q1 2022[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 18,032,699,143.49, an increase of 8.44% from the end of the previous year[7] - Total assets reached CNY 18,032,699,143.49, up from CNY 16,629,080,480.13 at the end of 2022, indicating an increase of 8.47%[21] - The company's total liabilities increased to CNY 9,837,829,840.26 from CNY 8,483,238,376.46, marking a rise of 15.98%[20] - Total liabilities reached ¥8,483,238,376.46, with current liabilities at ¥7,215,405,133.49 and non-current liabilities at ¥1,267,833,242.97[29] - Shareholders' equity totaled ¥8,145,842,103.67, including paid-in capital of ¥2,852,155,097.00 and undistributed profits of ¥3,563,826,365.56[30] Cash Flow - The net cash flow from operating activities was CNY 43,419,776.13, with no applicable year-on-year comparison[6] - Cash flow from operating activities for Q1 2023 was ¥43,419,776.13, a significant improvement from a negative cash flow of -¥40,420,736.53 in Q1 2022[24] - The company reported a net cash outflow from investing activities of -¥72,652,805.01 in Q1 2023, compared to -¥61,165,123.76 in Q1 2022[25] - The net cash inflow from financing activities in Q1 2023 was ¥181,769,255.27, a turnaround from a net outflow of -¥365,877,693.83 in Q1 2022[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 52,087[10] - The largest shareholder, Lingyuan Iron and Steel Group Co., Ltd., held 1,012,999,876 shares, accounting for 35.52% of the total shares[10] Related Party Transactions - The company engaged in significant related party transactions, including the sale of steam at an agreed price of RMB 49.81, totaling RMB 50,807,197.16, with a 98.01% settlement rate[12] - The company has been involved in various transactions with its controlling shareholder, including the purchase of coke at a market price of RMB 2,499.98 per ton, amounting to RMB 399,608,558.91, which accounted for 25.93% of similar transactions[12] Changes and Notifications - The company has undergone an accounting estimate change effective from January 1, 2023, which does not affect previously disclosed financial reports[15] - The company received a notification regarding the transfer of 49% equity in Lingyuan Steel Group to Ansteel Group, indicating a change in the controlling shareholder's structure[17] - The company has implemented new accounting standards starting January 1, 2023, affecting the presentation of financial statements[25] Government Subsidies - The company reported a total of CNY 672,068.44 in government subsidies related to normal business operations[8] - The company has received a total of RMB 50 billion in guarantees from its controlling shareholder, with a cumulative balance of RMB 33.2 billion as of March 2022[13] Inventory and Investments - Inventory as of March 31, 2023, was CNY 1,811,381,562.55, an increase from CNY 1,730,989,586.40 at the end of 2022, reflecting a growth of 4.87%[19] - The company has long-term equity investments valued at ¥9,493,758.39 and fixed assets worth ¥7,240,511,848.39[28] Research and Development - Research and development expenses increased to CNY 2,005,800.83 in Q1 2023, up from CNY 1,774,243.07 in Q1 2022, showing a rise of 12.97%[21]