FANGDA S.Steel(SH:600507)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was approximately CNY 6.30 billion, a decrease of 8.72% compared to the same period last year[7]. - Net profit attributable to shareholders for Q3 2023 was approximately CNY 301.91 million, an increase of 59.13% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was approximately CNY 301.34 million, up 127.76% from the previous year[7]. - Basic earnings per share for Q3 2023 were CNY 0.135, representing a 66.67% increase compared to the same period last year[7]. - For the first three quarters of 2023, total operating revenue was CNY 12,772,503,916.31, a decrease of 34.5% from CNY 19,690,325,079.75 in the same period of 2022[25]. - The net profit for the first three quarters of 2023 was CNY 580,524,184.39, a decline of 50.1% compared to CNY 1,159,509,435.30 in the same period of 2022[25]. - The net profit attributable to shareholders of the parent company for the first three quarters of 2023 is ¥586.75 million, a decrease of 50% compared to ¥1.17 billion in the same period of 2022[27]. - The basic earnings per share for the first three quarters of 2023 is ¥0.267, down from ¥0.544 in the same period of 2022[27]. Assets and Liabilities - Total assets at the end of the reporting period increased by 15.53% compared to the end of the previous year, reaching approximately CNY 22.40 billion[7]. - The equity attributable to shareholders at the end of the reporting period was approximately CNY 8.99 billion, a slight increase of 1.95% year-on-year[7]. - The company's total liabilities and equity amounted to CNY 22,402,901,198.91, up from CNY 19,391,243,836.93 year-over-year[23]. - Total liabilities increased from CNY 10,276,713,308.56 to CNY 10,277,973,286.25, reflecting an adjustment of CNY 1,259,977.69[32]. - Total assets rose from CNY 19,391,243,836.93 to CNY 19,392,576,103.47, with an adjustment of CNY 1,332,266.54[39]. - The company's total equity increased from CNY 9,114,530,528.37 to CNY 9,114,602,817.22, showing a slight adjustment of CNY 72,288.85[39]. Cash Flow - The company reported a net cash flow from operating activities of approximately CNY 2.28 billion year-to-date, a decrease of 0.59% compared to the previous year[7]. - Cash inflow from operating activities for the first three quarters of 2023 is ¥21.66 billion, a decrease of 13.5% from ¥24.91 billion in the same period of 2022[29]. - Cash outflow from operating activities for the first three quarters of 2023 is ¥19.38 billion, down from ¥22.62 billion in the same period of 2022[29]. - The net cash flow from operating activities for the first three quarters of 2023 is ¥2.28 billion, slightly down from ¥2.29 billion in the same period of 2022[29]. - The net cash flow from investing activities for the first three quarters of 2023 is -¥487.81 million, an improvement from -¥3.55 billion in the same period of 2022[31]. - The net cash flow from financing activities for the first three quarters of 2023 is -¥1.29 billion, compared to a positive cash flow of ¥856.27 million in the same period of 2022[31]. - The total cash and cash equivalents at the end of the third quarter of 2023 is ¥4.87 billion, down from ¥7.50 billion at the end of the same period in 2022[31]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 2,331,060,223, with the largest shareholder, Jiangxi Fangda Steel Group Co., Ltd., holding 726,853,252 shares, representing 31.18%[13]. - The top ten shareholders include various institutional and individual investors, with the second-largest shareholder, Jiangxi Automobile Spring Co., Ltd., holding 175,820,000 shares, representing 7.54%[13]. - The total number of shares held by the top ten unrestricted shareholders is 1,063,000,000, indicating a concentrated ownership structure[15]. Operational Highlights - The average price level of steel products significantly declined year-to-date, impacting net profit negatively[12]. - The company has integrated Fangda International Trade Co., Ltd. as a wholly-owned subsidiary, affecting the consolidated financial statements[9]. - The company is focusing on market expansion and technological upgrades, particularly in energy efficiency and low emissions[16][17]. - The company has adjusted its fundraising plan for the issuance of convertible bonds, with the total amount not exceeding RMB 1.796 billion, aimed at energy-saving upgrades and environmental improvements[16][17]. Inventory and Receivables - The inventory as of September 30, 2023, stands at approximately RMB 1.85 billion, compared to RMB 1.78 billion at the end of 2022, showing an increase of 3.7%[19]. - The accounts receivable amount to approximately RMB 1.11 billion, a decrease from RMB 1.21 billion at the end of 2022, reflecting a decline of 7.9%[19]. - The accounts payable decreased to CNY 1,900,903,547.40 from CNY 2,193,015,851.22, a decline of 13.3%[23].