CISC(SH:601005)2024-06-06 10:31Group 1: Financial Performance and Challenges - The company has faced significant losses in 2022 and 2023 due to a decline in market demand and fluctuating raw material prices, leading to a negative net profit for consecutive years [2][4] - In 2021, the company reported a positive net profit, but from the second half of 2022, the steel market demand decreased significantly, impacting operational performance [2][4] - Financial expenses and management costs decreased by 32.49% and 19.92% respectively in 2023 compared to 2022 [6] Group 2: Shareholder Engagement and Stock Management - The company has announced a share buyback plan to address the declining A-share price, with no plans for major shareholder reductions during the buyback period [1][3] - The company encourages shareholders to visit and understand the actual production and operational situation [3][4] - The management team is held accountable through a performance evaluation system [2] Group 3: Strategic Initiatives and Market Adaptation - The company is focusing on enhancing production capabilities, expanding product varieties, and improving energy consumption metrics to withstand market downturns [2][4] - New product development includes 15 new grades of steel for automotive applications and other sectors [4] - The company is actively pursuing strategic partnerships and expanding its customer base, having added 114 new users by the end of May [4] Group 4: Environmental and Regulatory Compliance - The company is committed to improving its ESG (Environmental, Social, and Governance) performance, with ongoing investments in environmental compliance and sustainability initiatives [4] - The company has achieved significant milestones in reducing emissions and waste, aiming for "ultra-low emissions" and "zero discharge" [4]