华菱钢铁(000932) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥36,912,216,732.08, a decrease of 7.17% compared to ¥39,762,223,771.96 in the same period last year[3]. - Net profit attributable to shareholders was ¥391,534,073.51, down 43.13% from ¥688,528,138.10 year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥322,512,398.26, reflecting a 49.92% decline from ¥643,970,645.55 in the previous year[3]. - The company reported a total profit of ¥90,624.19 million for the quarter, with a net profit of ¥39,153.41 million attributable to shareholders[7]. - The net profit for Q1 2024 was CNY 725,779,156.09, a decrease of 26.1% compared to CNY 982,726,585.37 in Q1 2023[17]. - The total revenue from operating activities was CNY 28,725,860,950.58, down from CNY 37,133,711,322.68 in the previous year, reflecting a decline of 22.6%[19]. - Basic earnings per share for Q1 2024 were CNY 0.0567, down from CNY 0.0997 in Q1 2023, representing a decline of 43.2%[18]. - The total comprehensive income for the period was CNY 663,947,307.73, a decrease of 32.5% from CNY 983,489,744.98 in the previous year[18]. Cash Flow - The company achieved a net cash flow from operating activities of ¥183,602,859.61, a significant improvement compared to a negative cash flow of ¥3,426,219,406.71 in the same period last year, marking a 105.36% increase[3]. - The net cash flow from operating activities turned positive at ¥183.60 million, a significant improvement from a negative cash flow of ¥3.43 billion in the previous period, primarily due to reduced cash outflow from operating receivables and payables[9]. - Cash flow from operating activities showed a net inflow of CNY 183,602,859.61, a significant recovery from a net outflow of CNY -3,426,219,406.71 in Q1 2023[19]. - The net increase in cash and cash equivalents was -¥663.14 million, an improvement from -¥3.29 billion in the same period last year[20]. - The ending balance of cash and cash equivalents was approximately ¥2.91 billion, down from ¥4.83 billion at the end of the previous year[20]. Assets and Liabilities - Total assets at the end of Q1 2024 were ¥139,229,766,599.05, representing a 4.58% increase from ¥133,132,535,874.34 at the end of the previous year[3]. - Current assets rose to CNY 72,386,610,227.27, compared to CNY 66,648,100,939.95, marking an increase of 8.2%[15]. - The total liabilities of the company reached CNY 74,195,866,990.43, an increase of 7.3% from CNY 68,791,134,732.86[16]. - The total equity attributable to shareholders increased to CNY 53,607,352,760.55 from CNY 53,259,733,032.33, reflecting a growth of 0.7%[16]. Investment Activities - Investment activities generated a cash outflow of ¥3.71 billion, a decrease of 33.75% compared to ¥5.60 billion in the previous period, mainly due to a reduction in large deposits purchased[9]. - The company reported a significant increase in investment income, which reached CNY 115,500,783.85, up from CNY 77,025,785.17 in the same quarter last year, indicating a growth of 50%[17]. - Total cash outflow from investment activities was approximately ¥4.92 billion, a decrease from ¥6.09 billion in the previous year, resulting in a net cash flow from investment activities of -¥3.71 billion compared to -¥5.60 billion last year[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 87,590, with the largest shareholder, Hunan Steel Group, holding 32.41% of shares[10]. - Hunan Steel Group and its subsidiaries collectively hold 3,023,210,455 shares, representing a significant portion of the company's equity[10]. Future Outlook and Strategy - The company plans to accelerate its transformation towards high-end, intelligent, and green development amidst ongoing industry adjustments[7]. - The company is focusing on market expansion and new product development to counteract the downturn in the steel industry[9]. - Future outlook remains cautious due to ongoing adjustments in the steel industry and insufficient downstream demand[9]. Financial Adjustments - Financial expenses increased by 95.80% to ¥59,732,649.11 due to a decline in interest income exceeding the increase in interest expenses[8]. - The company began implementing new accounting standards starting in 2024, affecting the financial statements[20].