Pangang (SZ:000629)2024-04-29 10:58Financial Performance - The company's operating revenue for Q1 2024 was ¥3,586,292,075.77, a decrease of 9.20% compared to ¥3,949,646,510.62 in the same period last year[3]. - Net profit attributable to shareholders was ¥68,146,678.89, down 79.31% from ¥329,398,832.04 year-on-year[3]. - Basic and diluted earnings per share decreased to ¥0.0073, down 80.94% from ¥0.0383 in the same period last year[3]. - The company experienced a 74.85% decline in total profit to ¥9,218,000.00 from ¥36,658,640.00 in the previous year, mainly due to a decrease in vanadium product market prices[8]. - The operating profit for the current period was CNY 90,825,024.14, compared to CNY 367,249,251.10 in the previous period, reflecting a decline of approximately 75.7%[20]. - The total comprehensive income for the current period was CNY 76,964,614.46, down from CNY 329,098,279.72 in the previous period, a decrease of around 76.7%[21]. - The net profit margin for the current period was approximately 2.14%, down from 8.34% in the previous period, indicating a significant decline in profitability[21]. Cash Flow and Assets - The net cash flow from operating activities improved to -¥56,542,558.12, a 71.47% increase compared to -¥198,197,068.80 in the previous year[3]. - The company's cash and cash equivalents decreased from CNY 1.65 billion at the beginning of the year to CNY 1.07 billion by the end of Q1 2024, representing a decline of approximately 34.9%[17]. - The cash and cash equivalents at the end of the period were 1,069,122,505.56, down from 2,164,293,272.31 a year ago[23]. - The company reported a decrease in cash and cash equivalents by 574,930,259.22 during the quarter[23]. - The total assets at the end of Q1 2024 were ¥15,290,129,977.34, a slight decrease of 0.29% from ¥15,334,342,489.50 at the end of the previous year[3]. - The total liabilities decreased from CNY 2.80 billion to CNY 2.66 billion, a reduction of approximately 4.9%[18]. - The total liabilities and equity amounted to CNY 15,290,129,977.34, a slight decrease from CNY 15,334,342,489.50 in the previous period, indicating a reduction of approximately 0.29%[19]. Shareholder Information - The largest shareholder, Pangang Group Co., Ltd., holds 27.25% of the shares, totaling 2,533,068,341 shares[9]. - Anshan Iron and Steel Group Co., Ltd. is the second largest shareholder with a 10.98% stake, amounting to 1,020,131,551 shares[9]. - The top ten shareholders collectively hold significant stakes, with the largest five accounting for over 55% of the total shares[9]. - The total number of ordinary shareholders at the end of the reporting period is 282,485[9]. - The report indicates that there are no pledged, marked, or frozen shares among the top shareholders[9]. Research and Development - Research and development expenses increased by 32.64% to ¥15,548,470.00 from ¥11,722,380.00 year-on-year, indicating a focus on innovation[8]. Agreements and Future Prospects - In January 2024, the company signed a framework agreement with Dalian Rongke for the supply of 16,000 tons of vanadium energy storage raw materials, with a ±10% variance[16]. - The company issued 693,009,118 A-shares to 22 specific investors in 2023, with 601,823,708 shares (6.47% of total shares) becoming tradable on January 22, 2024[16]. Accounting and Audit - The company has not undergone an audit for the first quarter report[23]. - The report indicates the implementation of new accounting standards starting in 2024[23].