鞍钢股份(000898) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was RMB 20,337 million, a decrease of 16.87% compared to RMB 24,463 million in the same period last year[3]. - The net profit attributable to shareholders was RMB 292 million, down 29.98% from RMB 417 million year-on-year[3]. - Basic earnings per share decreased by 29.55% to RMB 0.031 from RMB 0.044 in the same period last year[3]. - The company reported a total operating profit of RMB 359 million for Q1 2020, down from RMB 566 million in Q1 2019, representing a decline of 36.6%[28]. - Net profit attributable to shareholders for Q1 2020 was RMB 170 million, down 46.9% from RMB 320 million in Q1 2019[33]. Cash Flow and Liquidity - The net cash flow from operating activities was negative RMB 3,064 million, a decline of 252.51% compared to RMB 2,009 million in the previous year[3]. - The company's cash and cash equivalents decreased to RMB 2,817 million from RMB 4,671 million, a decline of 39.6%[26]. - Cash flow from operating activities for Q1 2020 showed a net outflow of RMB 2,747 million, compared to a net inflow of RMB 1,407 million in Q1 2019[35]. - The company's cash and cash equivalents at the end of Q1 2020 were RMB 1,747 million, down from RMB 1,824 million at the end of Q1 2019[35]. - The company's cash outflow from purchasing goods and services increased by RMB 1,204 million compared to the same period last year[11]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 90,188 million, an increase of 2.71% from RMB 87,808 million at the end of the previous year[3]. - The total liabilities of the company were RMB 37,317 million, compared to RMB 35,260 million at the end of 2019, reflecting an increase of 5.8%[27]. - The company's short-term borrowings rose to RMB 13,305 million from RMB 12,195 million, an increase of 9.1%[27]. - Long-term borrowings increased by RMB 1,099 million compared to the end of last year, driven by increased inventory and decreased advance payments due to the impact of COVID-19[11]. - The company's total liabilities as of March 31, 2020, were RMB 54,000 million, reflecting an increase from RMB 52,000 million at the end of 2019[31]. Shareholder Information - The company reported a total of 102,587 common shareholders at the end of the reporting period[7]. - The top shareholder, Anshan Iron and Steel Group Co., Ltd., held 53.33% of the shares[7]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[9]. Operational Challenges - Net cash flow from operating activities decreased by RMB 5,073 million compared to the same period last year, attributed to lower steel sales and product prices[11]. - Asset impairment losses increased by RMB 251 million compared to the same period last year, primarily due to inventory write-downs of RMB 121 million[11]. - The company reported a decrease in income tax expenses by RMB 91 million compared to the same period last year, due to a reduction in total profit[11]. Risk Management - The company has established a risk control framework for its derivative investments, ensuring compliance with relevant laws and regulations, which helps mitigate operational risks[24]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[24]. Other Financial Metrics - The weighted average return on net assets was 0.56%, down 0.24 percentage points from 0.80% in the previous year[3]. - Financial expenses decreased to RMB 242 million in Q1 2020 from RMB 294 million in Q1 2019, a reduction of 17.7%[33]. - The company reported a decrease in operating costs to RMB 20,640 million in Q1 2020 from RMB 24,134 million in Q1 2019, reflecting a reduction of 14.4%[33].