财报显示，公司三季度非流动性资产处置损益，包括已计提资产减值准备的冲销部分为2.81亿元。除资产减值因素外，公司财务、管理、销售三费也有所增加，其中财务费用3106.80万元，较上年同期增加2910.34万元。随着行业因持续“失血”而增加银行贷款，财务费用增加或成为部分亏损钢企需面对的问题。① The company lost 0.841 billion yuan in the third quarter. Chairman Zhang Peng said that the imbalance between supply and demand in the industry has not been mitigated, and in the future, the steel industry will still need to achieve sustainable development by removing production capacity, controlling costs, and increasing the added value of products. ② The actual controller of the company will be changed from the Chaoyang State-owned Assets Administration Commission to the central enterprise Angang Steel Group. The company expects the governance system to be optimized and the information system upgraded to achieve collaboration in the business field.
Finance Association, November 8 (Reporter Zhang Liangde) The steel industry continued to be under pressure in the third quarter. Zhang Peng, chairman of Ling Steel Co., Ltd. (600231.SH), told the Financial Federation reporter at the third quarter results briefing held today, “The imbalance between supply and demand in the industry has not been mitigated. In the future, the steel industry still needs to achieve sustainable development by removing production capacity, controlling costs, and increasing the added value of products.”
In the third quarter of this year, Ling Steel Co., Ltd. lost 0.841 billion yuan, the highest loss in a single quarter since the company went public. Zhang Peng said that the company's losses in the third quarter were mainly lower steel prices, the company's disposal of fixed asset losses, and preparation for asset depreciation. The company's iron, steel and material production in the first three quarters was 3.6977 million tons, 3.9999 million tons, and 3.9179 million tons, respectively, down 6.63%, 2.81%, and 4.64% year-on-year respectively.
According to financial reports, the company's non-current asset disposal profit and loss for the third quarter, including the write-off portion of already calculated asset impairment provisions, was $0.281 billion. In addition to asset impairment factors, the company's financial, management and sales expenses also increased. Among them, financial expenses were 31.068 million yuan, an increase of 29.1034 million yuan over the same period last year. As the industry increases bank loans due to continued “blood loss,” financial expenses may increase or become a problem that some loss-making steel companies need to face.
However, due to strong shareholders and asset-heavy backgrounds in the steel industry, most companies in the industry currently do not have liquidity problems. Li Jingdong, the company's director, deputy general manager, and chief accountant, explained at the performance briefing that in the first three quarters, as of the end of September, the company's monetary capital was 1.832 billion yuan, and long-term, stable and good bank-enterprise cooperative relationships were established with many financial institutions. In total, it received credit loans totaling more than 8.9 billion yuan from nearly 20 financial institutions, and the financial guarantee capacity was high.
Due to the continuous decline in steel prices, the company said at the beginning of the year that it would launch a hedging business. Wang Baojie, director of the company, said that the business is being carried out according to the plan, which will help the company reduce costs or guarantee product sales prices. However, judging from the company's performance, the company's hedging business has yet to clearly show its role.
Investors are concerned about the progress of the change in the actual controller of Ling Steel Co., Ltd. Zhang Peng said that in October, the Chaoyang State-owned Assets Administration Commission and Angang Steel Group signed an agreement, and the Chaoyang State-owned Assets Administration Commission will transfer 7% of its shares in Ling Steel Group to Angang Steel Group free of charge. After the transfer is completed, Angang Steel Group will hold 56% of Linggang Group's shares and will become the indirect controlling shareholder and actual controller of the company.
The company expects that the actual controller will change from the Chaoyang State-owned Assets Administration Commission to the central enterprise Angang Steel Group. The governance system of Ling Steel Co., Ltd. will be optimized and the information system will be upgraded to achieve collaboration in the fields of procurement, sales, logistics, scientific research, and international trade, and enhance the competitiveness of the main business through resource sharing and efficiency improvement.
