BYIS(SH:600581)2022-04-28 16:00Financial Performance - In Q1 2022, the company reported a net profit of -334.2 million RMB, a decrease of 284.31% year-on-year[6]. - The company's operating revenue for Q1 2022 was 5.1 billion RMB, a decline of 16% year-on-year[6]. - The basic earnings per share for Q1 2022 was -0.219 RMB, a decrease of 288% year-on-year[6]. - Total revenue for Q1 2022 was CNY 5,096,064,603.43, a decrease of 15.9% compared to CNY 6,066,514,605.84 in Q1 2021[18]. - Operating profit for Q1 2022 was CNY -287,540,169.40, compared to a profit of CNY 234,959,281.67 in Q1 2021, indicating a significant decline[19]. - Net profit for Q1 2022 was CNY -334,092,463.69, contrasting with a net profit of CNY 190,241,380.44 in Q1 2021[19]. - The net profit margin for Q1 2022 was impacted by increased operational costs, leading to a net loss of CNY 466.33 million, compared to a loss of CNY 41.38 million in the previous year[27]. Production and Operations - Steel production in January and February was 565,000 tons, down 38,200 tons compared to the same period last year[4]. - The company experienced a significant increase in long-term deferred expenses by 84.82% due to mining operations[7]. - The company is focusing on cost control measures to improve profitability in the upcoming quarters[19]. - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming quarters to improve financial performance[24]. Assets and Liabilities - Total assets at the end of Q1 2022 were 31.74 billion RMB, an increase of 1.82% from the end of the previous year[6]. - The company's equity attributable to shareholders decreased by 7.69% to 3.94 billion RMB compared to the end of the previous year[6]. - Total assets as of Q1 2022 amounted to CNY 31,737,317,516.25, an increase from CNY 31,171,017,892.76 in the previous year[15]. - Total liabilities for Q1 2022 were CNY 27,669,504,121.68, up from CNY 26,776,176,088.71 in Q1 2021[15]. - The company's total liabilities as of March 31, 2022, were CNY 24.08 billion, up from CNY 22.95 billion at the end of 2021, indicating an increase of approximately 4.93%[27]. Cash Flow and Liquidity - The company's cash and cash equivalents as of March 31, 2022, amount to approximately RMB 1.26 billion, an increase from RMB 1.21 billion at the end of 2021[13]. - The cash and cash equivalents at the end of Q1 2022 were CNY 1.09 billion, compared to CNY 1.45 billion at the end of Q1 2021, reflecting a decrease of about 24.7%[24]. - The net cash flow from operating activities for Q1 2022 was negative CNY 446.98 million, an improvement compared to negative CNY 752.47 million in Q1 2021, indicating a reduction in cash outflow by approximately 40.5%[24]. - The total cash outflow from investing activities in Q1 2022 was CNY 20.79 million, significantly lower than CNY 94.13 million in Q1 2021, showing a decrease of about 77.9%[24]. - The net cash flow from financing activities in Q1 2022 was CNY 482.76 million, a turnaround from negative CNY 96.49 million in Q1 2021, reflecting a positive change of approximately 600%[24]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 81,906[10]. - The largest shareholder, Baosteel Group Xinjiang Bayi Iron & Steel Co., Ltd., holds 766,789,264 shares, accounting for 50.02% of total shares[10]. - The company has not disclosed any related party relationships among the top ten shareholders[11]. - The company has not participated in margin financing and securities lending activities[11]. Research and Development - Research and development expenses decreased by 76.48% in Q1 2022 compared to the previous year[7]. - Research and development expenses for Q1 2022 were CNY 23,634,894.42, significantly lower than CNY 100,498,550.77 in Q1 2021, indicating a reduction in innovation spending[19]. - Research and development expenses in Q1 2022 were approximately ¥24 million, a decrease of 76.6% from ¥100 million in Q1 2021[29]. Incentives and Talent Management - The company plans to implement a restricted stock incentive plan to attract and retain talent, approved by the State-owned Assets Supervision and Administration Commission[12]. - The company is focused on long-term development and aligning interests among shareholders, management, and key personnel[12].