鞍钢股份扣非两年亏105亿行业垫底 员工减少4275人负债率51.6%创新高

Core Viewpoint - Ansteel Co., Ltd. is experiencing its most challenging period, with significant declines in revenue and record losses in 2024 [1][4]. Financial Performance - In 2024, Ansteel reported operating revenue of 105.1 billion yuan, a year-on-year decrease of 9.06%, and a net loss of 7.12 billion yuan, with losses expanding by 118.8% compared to the previous year [1][2][3]. - The company's revenue has returned to levels seen six years ago, comparable to 2018, marking the worst loss in its history [1][3]. - Cumulative losses over the past two years amount to 10.38 billion yuan for net profit and 10.52 billion yuan for non-recurring net profit [3][4]. Industry Context - The steel industry is facing a downturn, with Ansteel's performance lagging behind other major players like Baosteel and Hualing Steel, which, despite declines, managed to maintain profitability [4][6]. - The steel price index has been declining while raw material prices remain high, exacerbating the industry's weak market conditions [4]. Operational Metrics - Ansteel's asset-liability ratio reached a historical high of 51.61% by the end of 2024, indicating increased financial leverage [1][11]. - The company has seen a reduction in its workforce, with employee numbers decreasing from 29,303 in 2022 to 25,028 in 2024, a decline of approximately 14.6% [1][12]. Product Performance - In 2024, Ansteel's main products operated at a loss, with an overall gross margin of -3.54%, the lowest in its history [9][10]. - Specific product lines, such as hot-rolled and cold-rolled sheets, reported negative gross margins of -5.88% and -2.07%, respectively [9][10]. Future Plans - Ansteel has announced a plan to not distribute cash dividends for 2024 and aims to optimize its asset structure while focusing on its core business [8]. - The company intends to enhance operational efficiency and profitability, with commitments to accelerate the elimination of outdated capacity and promote low-carbon transformation [8].