LIUSTEELCO(SH:601003)2024-04-26 11:17Financial Performance - The net profit attributable to shareholders for 2023 was -1.012 billion RMB, a 56.78% improvement compared to -2.342 billion RMB in 2022[6]. - Operating revenue for 2023 was 79.665 billion RMB, a decrease of 1.31% from 80.725 billion RMB in 2022[23]. - The net cash flow from operating activities was 252 million RMB, down 96.22% from 6.662 billion RMB in 2022[23]. - The total assets at the end of 2023 were 68.575 billion RMB, a decrease of 3.97% from 71.412 billion RMB at the end of 2022[23]. - The net assets attributable to shareholders decreased by 10.22% to 8.811 billion RMB at the end of 2023 from 9.815 billion RMB at the end of 2022[23]. - Basic earnings per share for 2023 were -0.39 RMB, an improvement of 57.14% from -0.91 RMB in 2022[24]. - The weighted average return on equity increased by 10.06 percentage points to -10.87% in 2023 from -20.93% in 2022[24]. - The company will not distribute profits for 2023 due to a negative net profit, as per its profit distribution plan[6]. Production and Sales - In 2023, the company achieved a total steel production of 12.8 million tons, representing a year-on-year increase of 8.19%[34]. - The sales volume increased by 980,000 tons year-on-year, reflecting the company's efforts to expand its market presence[37]. - The company reduced its unit manufacturing cost of steel by 14% year-on-year[37]. - The total profit of member enterprises of the China Iron and Steel Association was 85.53 billion yuan, a year-on-year decrease of 12.5%, with a sales profit margin of only 1.32%[42]. - The sales volume of hot-rolled steel increased by 5.20% to 231.06 million tons, showing strong demand[58]. Research and Development - The R&D investment intensity for the year was 2.58%, resulting in the acquisition of 190 patents[38]. - Research and development expenses increased by 17.57% to 1.28 billion RMB, reflecting the company's commitment to innovation[52]. - The total R&D investment for the year was 2.05 billion RMB, representing 2.58% of total revenue[64]. - The company is investing in research and development to innovate and improve product quality, aiming to meet evolving market demands[103]. Environmental Initiatives - The company has successfully implemented ultra-low emission transformation projects, becoming the first steel enterprise in Guangxi to be publicly listed by the Ministry of Ecology and Environment[41]. - The company has launched a carbon peak and carbon neutrality development plan, achieving its total energy consumption target for the year[41]. - The company emitted 22,767,993 tons of CO2 directly and 13,771,851 tons from its Guangxi plant, with no exceedances of emission standards reported[133]. - The company implemented measures to reduce SO2 emissions, achieving a total of 3,989.921 tons, well below the annual limit of 8,430.72 tons[133]. - The company has established a centralized wastewater treatment facility, achieving 100% recycling of industrial wastewater with no external discharge[134]. Strategic Initiatives - The company focused on transforming from a manufacturer to a service provider in the steel industry, emphasizing high-end, intelligent, and green development[37]. - The company is committed to digital transformation and smart manufacturing, leveraging technologies like 5G, cloud, and AI to enhance production efficiency[91]. - The company plans to focus on technological upgrades and energy efficiency improvements to navigate the challenging market conditions ahead[84]. - The company aims to achieve a steel output of 16.69 million tons in 2024, focusing on reducing losses and ensuring zero major safety and legal incidents[87]. Governance and Management - The company held 2 shareholder meetings, 6 board meetings, and 4 supervisory meetings during the reporting period, with 35 temporary announcements disclosed[96]. - The company received a B rating for information disclosure evaluation for the 2022-2023 period, emphasizing the commitment to accurate and timely information sharing[96]. - The company’s independent directors were provided with necessary support and training, including a visit to the Fangchenggang base and participation in new regulations training[97]. - The company’s board of directors and senior management underwent various training programs to enhance governance and compliance awareness[97]. Financial Stability - The company has established independent financial management systems, ensuring financial independence from its controlling shareholder[148]. - The company is committed to maintaining the independence of its board and management, ensuring no interference from its controlling shareholder[148]. - The company has a credit rating of AA+ for the issuer and AAA for the bonds issued[165]. - The company issued bonds totaling 10 billion RMB at a fixed interest rate of 4.5%, with a maturity date of September 11, 2023[165]. Community Engagement - The company made a total donation of 30,000 yuan to support a project in Chisha Village, benefiting 3,000 people[142]. - The company is actively involved in rural revitalization, with 11 assistance projects initiated during the reporting period[144]. - The company has engaged in community support activities, including providing supplies and financial aid to designated poverty alleviation villages[144].