Nisco(SH:600282)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was CNY 17.05 billion, a decrease of 17.97% compared to CNY 20.57 billion in the same period last year[4]. - Net profit attributable to shareholders was CNY 511.86 million, down 58.33% from CNY 1.21 billion year-on-year[4]. - Total operating revenue for the first three quarters of 2022 was ¥52,644,533,863.39, a decrease of approximately 12.3% compared to ¥59,815,072,075.08 in the same period of 2021[23]. - Total comprehensive income attributable to the parent company for Q3 2022 was 2,104,305,011.47 CNY, down from 3,542,733,403.18 CNY in Q3 2021[27]. - Net profit for Q3 2022 was 2,184,255,956.64 CNY, down 40.5% from 3,671,736,745.95 CNY in the same period last year[26]. - Basic earnings per share decreased by 58.51% in the current reporting period, reflecting the decline in net profit attributable to shareholders[10]. - The diluted earnings per share decreased by 58.49% in the current reporting period, also due to the reduction in net profit attributable to shareholders[10]. - Earnings per share (EPS) for Q3 2022 was 0.3391 CNY, down from 0.5941 CNY in Q3 2021, representing a decrease of 42.9%[27]. Production and Sales - The company produced 2.34 million tons of steel and sold 2.37 million tons, with an average selling price of CNY 5,017.59 per ton, a decrease of 7.71% year-on-year[9]. - The average selling price of special plates was CNY 5,591.48 per ton, a decrease of 1.70% year-on-year[9]. - The net profit attributable to shareholders decreased by 58.33% in the current reporting period, primarily due to a year-on-year reduction in steel production and the impact of rising raw material prices exceeding the increase in steel prices[10]. Cash Flow and Assets - The company reported a net cash flow from operating activities of CNY 429.35 million, down 66.74% from CNY 1.11 billion in the same period last year[4]. - Cash inflow from operating activities for the first three quarters of 2022 was 50,321,366,722.31 CNY, an increase of 12.5% from 45,662,009,116.18 CNY in the same period of 2021[28]. - Net cash flow from operating activities for Q3 2022 was approximately CNY 2.48 billion, a decrease of 40.5% compared to CNY 4.16 billion in Q3 2021[29]. - The company reported a net increase in cash and cash equivalents of CNY 3.77 billion, compared to CNY 863.83 million in Q3 2021[29]. - The ending balance of cash and cash equivalents was CNY 6.77 billion, an increase from CNY 5.05 billion at the end of Q3 2021[29]. - Cash paid for operating activities was CNY 47.85 billion, up from CNY 41.50 billion in the previous year[29]. Assets and Liabilities - Total assets as of September 30, 2022, were CNY 71.77 billion, an increase of 16.40% from the end of the previous year[9]. - The total current liabilities increased to ¥33,293,973,676.92 from ¥28,017,069,873.36, representing a rise of about 18.5%[22]. - The long-term borrowings rose significantly to ¥5,470,596,171.11 from ¥2,164,020,903.87, marking an increase of approximately 153.3%[22]. - The total equity attributable to shareholders was ¥26,000,668,967.97, down from ¥27,906,828,742.28, reflecting a decrease of approximately 6.8%[22]. Investments and Acquisitions - The company acquired 53.57% of Baizhong Environmental Technology, consolidating its control over the company[5]. - The company acquired 53.57% of Baizhong Environmental Technology (Shanghai) Co., Ltd. for RMB 2,175,058,671, which is expected to contribute an additional net profit of RMB 1.16 billion to the company[16]. Research and Development - Research and development expenses increased to 1,741,420,533.87 CNY, up 15.2% from 1,511,993,942.23 CNY in Q3 2021[25]. Tax and Other Expenses - The company experienced a significant increase in tax expenses, totaling 364,655,174.28 CNY in Q3 2022, compared to 822,333,232.43 CNY in Q3 2021[26]. - The company reported a decrease in sales expenses to 308,126,429.29 CNY, down from 349,250,172.39 CNY in Q3 2021[25]. - Other income for Q3 2022 was reported at 61,269,207.56 CNY, an increase from 40,320,387.28 CNY in Q3 2021[26].