Financial Performance - The operating revenue for the first quarter was CNY 7,736,437,619.53, representing a decrease of 26.11% compared to the same period last year[3]. - The net profit attributable to shareholders was a loss of CNY 333,758,307.26, with a basic and diluted earnings per share of -0.04 CNY[3]. - Total operating revenue for Q1 2024 was CNY 7,736,437,619.53, a decrease of 26.3% compared to CNY 10,470,409,086.22 in Q1 2023[19]. - Net loss attributable to shareholders for Q1 2024 was CNY -333,758,307.26, compared to a loss of CNY -105,451,906.05 in Q1 2023[24]. - Basic and diluted earnings per share for Q1 2024 were both CNY -0.04, compared to CNY -0.01 in Q1 2023[25]. - Gross profit for Q1 2024 was negative at approximately -¥329.91 million, worsening from -¥130.82 million in Q1 2023[43]. - Net loss for Q1 2024 was approximately -¥336.51 million, compared to a net loss of -¥122.27 million in Q1 2023, indicating a significant increase in losses[43]. Cash Flow and Liquidity - The net cash flow from operating activities was a negative CNY 832,893,230.43, primarily due to extended shipping cycles and increased capital occupation during the traditional off-season[4]. - Cash flow from operating activities in Q1 2024 was CNY -832,893,230.43, an improvement from CNY -1,027,469,422.83 in Q1 2023[29]. - Total cash inflow from operating activities in Q1 2024 was CNY 6,497,463,458.86, down from CNY 9,592,778,468.97 in Q1 2023, reflecting market challenges[28]. - The net increase in cash and cash equivalents for Q1 2024 was -CNY 1,058,399,294.28, an improvement from -CNY 2,080,268,309.47 in Q1 2023[32]. - The cash and cash equivalents balance at the end of Q1 2024 was CNY 773,365,182.88, down from CNY 1,857,664,523.81 at the end of Q1 2023, a decrease of 58.4%[32]. Assets and Liabilities - Total assets at the end of the quarter were CNY 37,233,967,502.10, a slight decrease of 0.33% from the end of the previous year[4]. - Current assets decreased to CNY 6,046,558,734.69 from CNY 6,051,987,303.55, indicating a decline of about 0.09%[13][14]. - Total liabilities increased to CNY 17,708,378,832.32 from CNY 17,502,703,730.69, representing an increase of approximately 1.18%[15][17]. - The total current assets as of March 31, 2024, were CNY 6,108,135,340.96, slightly down from CNY 6,149,594,046.43 as of December 31, 2023, a decrease of 0.7%[34]. - The total non-current assets decreased to CNY 30,817,253,798.75 as of March 31, 2024, from CNY 30,916,110,680.28 as of December 31, 2023, a decline of 0.3%[35]. - The total liabilities as of March 31, 2024, were CNY 17,616,356,911.07, compared to CNY 17,421,172,819.40 as of December 31, 2023, an increase of 1.1%[38]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 167,041[8]. - The largest shareholder, Chongqing Changshou Steel Co., Ltd., holds 2,096,981,600 shares, accounting for 23.51% of the total shares[9]. Operational Efficiency - The company experienced a significant decline in sales prices of raw materials, leading to increased losses during the reporting period[7]. - The company is currently facing challenges due to seasonal factors affecting production and inventory capital occupation[4]. - Research and development expenses increased to CNY 10,130,322.07 in Q1 2024, up from CNY 7,405,741.15 in Q1 2023, reflecting a focus on innovation[19]. - Sales expenses decreased to CNY 16,303,319.99 in Q1 2024 from CNY 22,064,523.52 in Q1 2023, indicating cost control measures[19]. - Management expenses reduced to CNY 61,118,846.69 in Q1 2024, down from CNY 71,594,388.84 in Q1 2023, showing operational efficiency[19]. - Interest expenses for Q1 2024 were CNY 45,990,470.00, significantly lower than CNY 71,900,486.30 in Q1 2023, indicating improved financial management[19].
重庆钢铁股份(01053) - 2024 Q1 - 季度业绩