JSHX(SH:600307)2024-04-29 08:07Financial Performance - The company's operating revenue for Q1 2024 was CNY 8,206,867,298.88, representing a decrease of 21.26% compared to the same period last year[3] - Total operating revenue for Q1 2024 was CNY 8,206,867,298.88, a decrease of 21.2% compared to CNY 10,423,327,500.86 in Q1 2023[17] - Net loss for Q1 2024 was CNY 519,092,875.05, compared to a net profit of CNY 30,738,650.90 in Q1 2023[18] - The total comprehensive income attributable to the parent company was -519,092,875.05 CNY in Q1 2024, a stark contrast to 30,769,650.90 CNY in Q1 2023[20] - The basic and diluted earnings per share for Q1 2024 were both -0.0829 CNY, compared to 0.0049 CNY in Q1 2023, indicating a significant decline in profitability[20] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 856,104,993.66, primarily due to low sales volume and price declines in steel products[6] - In Q1 2024, the company reported a net cash flow from operating activities of -856,104,993.66 CNY, compared to -428,297,036.38 CNY in Q1 2023, indicating a decline in operational cash flow[21] - Cash inflows from operating activities totaled 6,253,435,718.30 CNY in Q1 2024, a decrease of 21.3% from 7,946,030,160.74 CNY in Q1 2023[21] - Cash and cash equivalents decreased by 59.96%, attributed to a decline in steel sales and changes in collection structure[5] - The ending cash and cash equivalents balance decreased to 617,957,490.75 CNY in Q1 2024, down from 2,063,933,493.78 CNY in Q1 2023, reflecting liquidity challenges[22] Assets and Liabilities - Total assets increased by 3.99% from the end of the previous year, reaching CNY 46,128,299,475.33[3] - Total assets as of March 31, 2024, were CNY 46,128,299,475.33, an increase from CNY 44,358,487,527.95 in the previous year[14] - Total liabilities as of March 31, 2024, were CNY 36,485,691,474.46, compared to CNY 34,218,108,617.30 in the previous year, indicating a rise of 6.6%[14] Inventory and Production - Inventory increased by 34.64%, reflecting lower production and sales rates of steel products[5] - Inventory increased to CNY 7,546,690,195.92 as of March 31, 2024, compared to CNY 5,605,004,828.31 in the previous year, reflecting a rise of 34.6%[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 203,075[8] - The largest shareholder, Jiuquan Iron and Steel (Group) Co., Ltd., holds 54.79% of the shares[8] Other Financial Metrics - The weighted average return on equity decreased by 5.52 percentage points to -5.25%[3] - The company reported non-recurring gains and losses totaling CNY 4,455,094.32, mainly from government subsidies and other income[5] - Research and development expenses for Q1 2024 were CNY 244,002,313.68, up from CNY 189,443,154.99 in Q1 2023, reflecting a growth of 28.8%[18] - The company transferred 50% equity in a subsidiary for CNY 16,427,900, which is a minor transaction not requiring board approval[11] Financing Activities - The company received 3,543,850,000.00 CNY in borrowings during Q1 2024, down from 5,855,000,000.00 CNY in Q1 2023, indicating reduced financing activity[22] - Cash flow from financing activities resulted in a net outflow of -968,235,324.32 CNY in Q1 2024, contrasting with a net inflow of 340,480,556.23 CNY in Q1 2023[22] - The company paid 3,110,800,000.00 CNY in debt repayments during Q1 2024, compared to 4,493,676,200.00 CNY in Q1 2023, reflecting a reduction in debt servicing[22] Sales Performance - Total revenue from sales and services received was 6,076,266,942.66 CNY in Q1 2024, down 22.4% from 7,835,658,879.78 CNY in Q1 2023[21] - Total operating costs for Q1 2024 were CNY 8,725,676,118.27, down 16.0% from CNY 10,387,918,901.86 in Q1 2023[18]