中信特钢(000708) - 2023 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2023 was ¥27,969,029,472.76, representing a 13.80% increase compared to ¥24,577,904,700.96 in the same period last year[4] - Net profit attributable to shareholders decreased by 24.01% to ¥1,480,315,647.99 from ¥1,947,958,986.67 year-on-year[4] - The net profit for Q1 2023 was CNY 1,504,067,519.98, down from CNY 1,951,380,846.99 in Q1 2022, reflecting a decrease of approximately 23.0%[17] - The total comprehensive income attributable to the parent company was approximately CNY 1.48 billion, a decrease from CNY 1.95 billion in the previous period[18] - Basic earnings per share were CNY 0.293, down from CNY 0.386 in the previous period[18] Cash Flow and Liquidity - The net cash flow from operating activities was -¥1,172,274,920.94, a decrease of 218.39% compared to ¥990,206,158.70 in the previous year[4] - Cash flow from operating activities generated a net outflow of approximately CNY 1.17 billion, compared to a net inflow of CNY 990 million in the previous period[19] - The company reported a net cash inflow from operating activities, contributing to improved liquidity and financial stability[11] - The company reported cash and cash equivalents at the end of the period amounting to approximately CNY 11.00 billion, down from CNY 11.60 billion in the previous period[20] - The company received CNY 19.80 billion in cash from sales of goods and services, compared to CNY 14.45 billion in the previous period[19] Assets and Liabilities - Total assets increased by 33.28% to ¥120,988,851,333.77 from ¥90,774,617,316.29 at the end of the previous year[5] - The total liabilities increased to RMB 54.95 billion, up from RMB 37.65 billion, reflecting a growth of approximately 46%[13] - The company's total liabilities as of Q1 2023 amounted to CNY 79,824,287,001.47, up from CNY 54,337,273,626.25 in the previous year, marking an increase of about 46.9%[15] - The total non-current liabilities reached CNY 27,469,658,127.75, compared to CNY 16,829,923,257.22 in the previous year, reflecting an increase of about 63.2%[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,681[8] - The largest shareholder, CITIC Taifeng Investment Co., Ltd., holds 75.05% of the shares, totaling 3,787,987,284 shares[8] Acquisitions and Investments - The company successfully acquired 60% of Taifu Steel Pipe, enhancing its seamless steel pipe capacity to 5 million tons, which strengthens its position in the high-end seamless steel pipe market[7] - The company completed the acquisition of 60% equity in Taifu Steel Pipe, which is now a subsidiary, enhancing its market position[11] - The company has completed the relocation of its subsidiary Jiangyin Xingcheng Special Steel, receiving a compensation of RMB 1.517 billion from the local government[10] Operating Costs and Expenses - The total operating costs for Q1 2023 were CNY 26,254,772,788.84, compared to CNY 22,264,785,923.46 in the previous year, indicating an increase of about 18.0%[16] - Research and development expenses for Q1 2023 were CNY 1,133,029,501.38, an increase from CNY 962,484,846.52 in the same period last year, representing a growth of about 17.7%[17] Financial Structure and Strategy - The company has adjusted its deposit limit with CITIC Bank to a maximum of RMB 5 billion and a credit limit of RMB 11 billion to optimize financial structure[11] - The company plans to distribute a cash dividend of RMB 7 per 10 shares, as approved in the recent shareholder meeting[11] Other Financial Metrics - The weighted average return on net assets decreased by 1.74 percentage points to 3.99% from 5.73% year-on-year[4] - The company reported non-recurring gains of ¥62,062,528.13, primarily from government subsidies and asset disposals[6] - The company reported a decrease in employee compensation payable to CNY 1,874,321,190.46 from CNY 2,470,171,096.33 in the previous year, a reduction of approximately 24.1%[15] - The company did not conduct any share buybacks during the reporting period[20]