Nisco(SH:600282)2023-04-27 16:00Financial Performance - The company reported a revenue of CNY 17.90 billion for Q1 2023, representing a year-on-year increase of 3.38% compared to CNY 17.05 billion in the same period last year[4]. - Net profit attributable to shareholders decreased by 49.80% to CNY 376.20 million, down from CNY 716.20 million in the previous year[4]. - The net profit after deducting non-recurring gains and losses fell by 59.95% to CNY 321.05 million, compared to CNY 801.63 million in the same period last year[4]. - Total operating revenue for Q1 2023 was CNY 17,897,431,299.15, an increase of 3.37% compared to CNY 17,313,043,177.97 in Q1 2022[21]. - Net profit for Q1 2023 was CNY 431,339,970.06, a decrease of 42.0% from CNY 743,898,582.02 in Q1 2022[23]. - The total comprehensive income attributable to shareholders for Q1 2023 was CNY 261,546,670.53, down from CNY 828,168,056.12 in Q1 2022[24]. Production and Sales - The company achieved a steel production volume of 2.50 million tons, a decrease of 1.89% year-on-year, completing 23.55% of its production plan[9]. - Steel sales volume increased by 1.81% to 2.54 million tons, compared to the same period last year[9]. - The average selling price of steel was CNY 4,381.72 per ton, reflecting a year-on-year decrease of 12.35%[9]. Assets and Liabilities - The company's total assets increased by 2.79% to CNY 76.76 billion, up from CNY 74.67 billion at the end of the previous year[5]. - The company's total liabilities reached CNY 45,694,087,515.85, an increase from CNY 43,928,251,654.59 in the previous year[21]. - The company's non-current liabilities totaled RMB 35.82 billion as of March 31, 2023, a decrease from RMB 36.24 billion at the end of 2022, reflecting a reduction of approximately 1.2%[20]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 81,966, with the largest shareholder, Nanjing Steel Group, holding 57.13% of shares[12]. - Nanjing Steel Group directly holds 57.13% and indirectly holds an additional 1.97% through its subsidiary, totaling 59.10%[14]. - The top ten shareholders include Nanjing Steel Group, Hong Kong Central Clearing Limited, and CITIC Securities, with the largest holding being 3,522,419,593 shares[12]. - The company has reported no shares under pledge, marking a stable shareholder structure[12]. Strategic Developments - The company is undergoing a potential change in actual control, with Nanjing Steel Group planning to acquire 60% of Nanjing Steel Union's shares from the controlling shareholders[14]. - A strategic investment framework agreement was signed, with Hubei Xinye Steel planning to invest 13.58 billion RMB in Nanjing Steel Group, which will result in Xinye Steel becoming the controlling shareholder[14]. - The completion of the share transfer and related transactions is subject to regulatory approval, indicating potential uncertainties ahead[14]. Cash Flow and Expenses - The cash flow from operating activities decreased by 35.88% to CNY 341.65 million, primarily due to the decline in net profit[10]. - In Q1 2023, the net cash flow from operating activities was ¥341,649,070.18, a decrease of 35.8% compared to ¥532,834,205.24 in Q1 2022[26]. - Research and development expenses for Q1 2023 amounted to CNY 584,899,559.36, compared to CNY 457,371,132.22 in Q1 2022, representing a 28.0% increase[23].