On the afternoon of April 10, Maanshan Iron & Steel Co., Ltd.'s 2023 annual performance briefing was successfully held at Panorama.com. Ren Tianbao, director, general manager and secretary of the board of directors of Maanshan Iron and Steel Co., Ltd., Guan Bingchun, independent director of Maanshan Iron and Steel Co., Ltd., and Xing Qunli, director of the operations and finance department of Maanshan Iron and Steel Co., Ltd. attended this performance briefing and introduced the company's operating conditions in 2023 and prospects for 2024. , and conducted online interactions with investors around the company's business development.
At the beginning of the roadshow, Ren Tianbao, director, general manager and secretary of the board of directors of Maanshan Iron and Steel Co., Ltd., delivered a speech and introduced the company's overall development in 2023. He said that in 2023, the situation in the steel industry will be complex and severe. Based on the actual production and operation of "four phases of strategic transformation, project construction, product ramping, and winter training and quality improvement", the company will focus on the long-term focus on the "four modernizations" and focus on the current "four modernizations". "Four Haves" and strive to promote high-quality development.
According to reports, in 2023, the company will focus on products, brands, innovation leadership, and governance modernity, enhancing the "hard-core" competitiveness of products, demonstrating brand value, shaping new development momentum, and improving governance advanced capabilities.
Subsequently, Xing Qunli, Director of the Operations and Finance Department of Maanshan Iron & Steel Co., Ltd., introduced the company's situation from three aspects: the company's 2023 business overview, ESG development concepts and strategies, and future prospects.
In 2023, due to supply being stronger than demand, the entire steel industry will show a trend of weakening demand, falling prices, high costs and declining profits. Affected by this, Maanshan Iron & Steel Co., Ltd.'s operating income, net profit attributable to shareholders of listed companies, and operating cash flow in 2023 have all declined to varying degrees.
In 2023, Maanshan Iron and Steel Co., Ltd. will focus on strengthening the "four modernizations" and grasping the "four haves", from four aspects: in-depth implementation of the "four modernizations", in-depth practice of the "four haves", strengthening management, focusing on efficiency, and concentrating efforts to seek development. A series of measures have been taken and achieved remarkable results. Especially in the second half of 2023, the company focused on structure, cost, efficiency, mechanism, and vitality to improve the quality of development. In the third quarter of the second half of the year, the company achieved a net profit attributable to shareholders of listed companies of 638 million yuan, and in the fourth quarter it was approximately 270 million yuan.
Looking to the future, the company stated that from the perspective of the industry environment, the situation in the steel industry will still be severe in 2024, and the industry downward cycle has not yet ended. However, the favorable conditions facing my country's development are stronger than the unfavorable factors, and the basic long-term economic trend has not changed. In addition, the State Council also issued the "Action Plan for Promoting Large-Scale Equipment Updates and Trade-in of Consumer Goods", which will help boost end-use steel demand and support the stable operation of the steel industry. Steel prices are likely to bottom out in the second half of the year.
