Financial Performance - The company reported a net loss of RMB 1.51 billion for the fiscal year 2023, with retained earnings at RMB -9.17 billion as of year-end 2023, leading to a recommendation not to distribute profits for the year [2]. - The net profit attributable to shareholders was RMB -1.49 billion in 2023, a decline from RMB -1.02 billion in 2022 [7]. - Basic and diluted earnings per share were both RMB -0.17 in 2023, compared to RMB -0.11 in 2022 [7]. - The total profit for 2023 was RMB -1.744 billion, a decrease of 45.13% compared to the previous year, primarily due to a 10.13% drop in the sales price of raw materials [21]. - The net profit after deducting non-recurring gains and losses was RMB -1,514,298 thousand for the year [16]. - The company reported a significant increase in research and development expenses, which rose to CNY 29,432,637.79 in 2023 from CNY 21,736,831.31 in 2022, marking an increase of approximately 35.5% [77]. - The company reported a total comprehensive income of CNY (1,040,353,180.96) for the year 2023 [79]. Revenue and Sales - Operating revenue increased by 7.54% to RMB 39.32 billion in 2023 compared to RMB 36.56 billion in 2022 [7]. - The company achieved a finished steel sales volume of 10.2895 million tons, representing a year-on-year increase of 22.74% [18]. - The sales revenue from hot-rolled products was RMB 17.998 billion, accounting for 46.11% of total revenue, with a year-on-year growth of 4.30% [22]. - Cash received from sales of goods and services in 2023 amounts to CNY 50,775,383,942.34, an increase from CNY 39,072,101,834.79 in 2022 [80]. Assets and Liabilities - Total assets decreased by 5.10% to RMB 37.36 billion in 2023 from RMB 39.36 billion in 2022 [7]. - The company’s total liabilities increased, with cash outflow for debt repayment amounting to CNY 2,562,355,799.63 in 2023 [83]. - The company’s total equity decreased to CNY 19,644,531,907.31 in 2023 from CNY 21,155,185,543.55 in 2022, a decline of approximately 7.1% [76]. - The company’s asset-liability ratio increased to 46.85% from 45.78% year-on-year, reflecting a 1.07% increase [16]. Cash Flow - The company achieved a cash flow from operating activities of RMB 1.02 billion, down 30.48% from RMB 1.47 billion in the previous year [7]. - The net cash flow from operating activities for 2023 is CNY 1,010,253,292.95, down from CNY 1,264,749,369.33 in 2022 [80]. - Cash flow from financing activities generated a net outflow of CNY (2,327,132,295.48) in 2023, compared to a net outflow of CNY (1,253,002,524.20) in 2022 [70]. Production and Capacity - The company has an annual steel production capacity of 10 million tons, with a diverse product range including hot-rolled sheets and rebar [5]. - The production of iron and steel decreased by 9.88% and 9.63% respectively, while the production of finished steel increased by 22.53% year-on-year [18]. - Total production of main products included 239.37 million tons of board materials, with a sales volume of 243.67 million tons, reflecting a year-on-year decrease of 6.66% in production [28]. Market and Industry Context - The company faces a complex and severe situation in the steel industry, requiring ongoing efforts to enhance supply and demand adaptability [43]. - The overall economic environment remains challenging, with uncertainties in global economic prospects and domestic demand [43]. - The company anticipates that the macroeconomic situation will improve in 2024, despite ongoing challenges [43]. Strategic Initiatives - The company plans to continue its cost reduction initiatives while improving technical economic indicators to enhance profitability [21]. - The company aims to enhance safety management capabilities and strengthen the responsibility system to improve operational efficiency [45]. - The company is committed to green development and technological innovation to establish a high-quality green intelligent manufacturing steel enterprise [45]. - The company emphasizes the importance of optimizing procurement and supply chain management to enhance operational resilience and efficiency [46]. Governance and Compliance - The company has established a three-member independent audit committee to oversee financial reporting and compliance [50]. - The company has adhered to the corporate governance code and has not identified any deviations from the standards [47].
重庆钢铁股份(01053) - 2023 - 年度业绩