中信特钢(000708) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was CNY 28,428,786,439.94, representing a 1.64% increase compared to CNY 27,969,029,472.76 in the same period last year[4] - Net profit attributable to shareholders decreased by 8.14% to CNY 1,359,809,828.84 from CNY 1,480,315,647.99 year-on-year[4] - Basic earnings per share fell by 8.19% to CNY 0.269 from CNY 0.293 in the same period last year[4] - The company reported a decrease in diluted earnings per share by 8.33% to CNY 0.264 from CNY 0.288 in the previous year[4] - Net profit for the current period was ¥1.42 billion, a decrease of 5.57% from ¥1.50 billion in the previous period[18] - The company’s total comprehensive income for the current period was ¥1.42 billion, compared to ¥1.50 billion in the previous period[19] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -1,395,168,766.51, a decline of 19.01% compared to CNY -1,172,274,920.94 in the previous year[4] - The ending balance of cash and cash equivalents was 5,118,159,519.27 CNY, down from 10,997,634,121.33 CNY at the end of the previous year, reflecting a significant decrease in liquidity[22] - The cash inflow from financing activities was 8,516,136,424.87 CNY, down from 11,325,961,188.22 CNY year-over-year, showing a decrease in financing received[22] - The net cash flow from financing activities was -1,063,603,647.23 CNY, contrasting with a positive net cash flow of 4,944,006,872.85 CNY in the previous year, indicating increased cash outflows for debt repayment[22] - The total cash outflow from investing activities was 274,047,185.66 CNY, significantly lower than 1,441,873,246.35 CNY in the same period last year, reflecting reduced investment expenditures[21] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 114,042,033,260.36, down 2.12% from CNY 116,506,605,547.44 at the beginning of the year[5] - The total liabilities decreased to RMB 71.07 billion from RMB 74.87 billion, a reduction of about 5.0%[15][16] - The company's total equity increased to RMB 42.98 billion from RMB 41.63 billion, reflecting a growth of approximately 3.2%[16] - Accounts receivable increased to RMB 7.34 billion, up from RMB 5.20 billion, indicating a growth of approximately 40.9%[13][16] - The company's inventory stood at RMB 17.18 billion, slightly down from RMB 17.21 billion, indicating a decrease of about 0.2%[14][16] Shareholder Information - Shareholders' equity attributable to the parent company increased by 3.61% to CNY 40,003,179,659.38 from CNY 38,609,126,148.91[5] - The total number of ordinary shareholders at the end of the reporting period was 30,827[8] Operational Costs and Expenses - Total operating costs increased to ¥27.18 billion, up 3.50% from ¥26.25 billion in the previous period[17] - Research and development expenses rose to ¥1.22 billion, reflecting a 7.66% increase compared to ¥1.13 billion in the previous period[17] - The total cash outflow for employee payments was 2,412,474,700.69 CNY, compared to 2,278,249,934.05 CNY in the previous year, representing an increase of approximately 5.9%[21] - The cash paid for taxes was 581,523,551.16 CNY, a decrease from 976,505,422.63 CNY, indicating a reduction in tax liabilities[21] Other Income and Investments - The company recognized non-operating income of CNY 22,065,161.84 during the quarter, primarily from government subsidies and asset disposals[6] - The company reported a net investment loss of ¥13.38 million, an improvement from a loss of ¥23.47 million in the previous period[18] - Other income increased significantly to ¥383.55 million from ¥76.11 million in the previous period[17] - The cash inflow from the disposal of fixed assets was 5,067,800.00 CNY, a significant increase from 256,262.40 CNY, suggesting improved asset management[21] Financial Strategy - The company plans to optimize its financial structure and reduce investment risks through adjustments in its banking relationships and credit limits[11] - The maximum deposit balance with CITIC Bank is set at RMB 5 billion, while the maximum credit balance is adjusted to RMB 8 billion, effective for one year post-approval[11]