Anshan Iron and Steel Co., Ltd. (hereinafter referred to as "Anshan Iron and Steel Co., Ltd." or "the Company") announced on April 7 that the company held its 2023 annual results briefing on April 3. At the meeting, Anshan Iron and Steel Co., Ltd. revealed that the company's annual iron, steel and timber output in 2023 will be 25.4564 million tons, 26.6274 million tons and 24.6005 million tons respectively, a decrease of 2.97%, an increase of 0.15% and a decrease of 1.93% compared with the same period last year, and the sales of steel will be 24.8549 million tons, a year-on-year decrease of 3.72%, achieving a steel production and sales rate of 101.03%.
Screenshot of the announcement of Anshan Iron and Steel Co., Ltd
Anshan Iron and Steel Co., Ltd. introduced the company's performance and operation in 2023 to investors. In 2023, in the face of the complex and severe market situation, the company will always maintain its strategic focus, continue to deepen reform and innovation, vigorously strengthen market development, dig deep into the potential of system cost reduction, and effectively promote various work of production and operation.
The annual output of iron, steel and timber was 25.4564 million tons, 26.6274 million tons and 24.6005 million tons respectively, a decrease of 2.97%, an increase of 0.15% and a decrease of 1.93% over the same period of the previous year, and the sales of steel were 24.8549 million tons, a decrease of 3.72% over the same period of the previous year, achieving a steel production and sales rate of 101.03%.
The company implements the dual carbon goal and the requirements of building green Anshan Iron and Steel Co., Ltd., and makes every effort to promote ultra-low emission transformation and cleaner production. In 2023, a total of 152 ultra-low emission retrofit projects will be released. Bayuquan Branch completed the whole process of ultra-low emission transformation and evaluation and monitoring publicity, and became the first A-level enterprise with environmental performance in Northeast China in March this year; Chaoyang Iron and Steel pre-assessment project was all released, and completed the mid-term assessment and clean transportation transformation; Anshan headquarters pre-assessment project was released, completed the mid-term assessment, formed a clean transportation plan and made steady progress. Emissions of sulfur dioxide, nitrogen oxides, COD and ammonia nitrogen decreased by 28.2%, 21.9%, 2.2% and 60% respectively compared with the plan. We will continue to increase investment in energy-saving projects, and release and implement 21 energy-saving projects in 2023, with a project investment of 106 million yuan. To promote the layout and application of green energy, the Bayuquan coke oven gas to liquefied natural gas (LNG) co-production hydrogen project has been steadily implemented, and the first phase of the 5.4MW photovoltaic project of Chaoyang Iron and Steel New Energy Power Generation has been put into operation. Bayuquan Branch won the title of "Benchmarking Enterprise for Green Development of Steel".
In 2023, the company's R&D investment will be 2.852 billion yuan, accounting for 2.51% of operating income. The project of "Key Technology Development and Industrialization of the Third Generation of Ultra-large Transmission Cryogenic Pipeline Steel" won the special prize of Metallurgical Science and Technology Award, 3 products were selected into the Ministry of Industry and Information Technology's advanced technology product transformation and application catalogue in the field of industrial foundation, and 3 products, including P690QL2 steel for liquid cargo tanks of liquefied carbon dioxide carriers, achieved the world premiere.
The growth of the company
The company's future growth mainly reflects the product structure, raw material structure, production capacity layout and low-carbon development: first, give full play to the advantages of technology research and development, strengthen technological transformation, optimize the product layout of production lines, and improve the proportion of high-value-added, high-efficiency and high-quality fist products; The third is to give full play to the advantages of coastal bases, optimize the layout of bases, promote the upgrading of Bayuquan coastal bases, and increase the proportion of competitive production capacity; fourth, give full play to the advantages of process integration and innovation, build a new technology demonstration project of green hydrogen and zero-carbon fluidized bed high-efficiency ironmaking, establish unique advantages in low-carbon competition, and increase the proportion of low-carbon green steel.
Planning of the company's high-end products
High-end products will always be the theme of the company's development, one is to greatly increase the production and sales of new high-strength plastic automotive steel and high-surface galvanized automotive steel; the second is to focus on the development of high-end medium and heavy plate products represented by high-tech shipbuilding and offshore steel, energy steel, bridge steel, and tool steel; third, to maintain the leading position of railway steel, and increase the proportion of high-quality rail and railway vehicle steel; fourth, to accelerate the development of high-performance silicon steel for new energy vehicles and oriented silicon steel, and to improve the scale of silicon steel; fifth, to develop high-end wire rod products steel series.
The company's measures to reduce costs and increase efficiency
The company attaches great importance to the work of reducing costs and increasing efficiency, strengthens the fine control of the process from the aspects of sales, procurement, production, energy, cost control, etc., gives full play to the leading role of budget, and makes real efforts to improve control, execution and rigid performance appraisal, so as to promote the implementation of the goal of reducing costs and increasing efficiency.
Sales: Optimize the variety structure and create brand advantages. Focus on cultivating silicon steel, automotive steel and other branded products with high premium ability, strong market competitiveness and good quality reputation.
Procurement: Strengthen market research and judgment, avoid peaks and valleys, coordinate procurement, improve procurement bargaining power, further reduce the mining of raw materials, and further reduce the cost of steel materials per ton year-on-year.
Production end: the linkage of the pre-iron system reduces the cost of pig iron. The steel rolling system strengthens the process control of the production process, strengthens the quota management, reduces the process consumption, and reduces the cost of the process per ton of steel.
Energy management: The whole process carries out the special action of "finding gas, reducing electricity consumption, pressurizing steam, reducing nitrogen, and saving new water", and does a good job in reducing energy consumption from the aspects of management and technology, and reduces the cost of purchased energy year-on-year.
Cost control: Establish the concept of "living a tight life", strictly control various expenses, and outperform the industry in management, sales and finance.
The company's cash flow
Although the company's cash balance at the end of 2023 is lower than that at the beginning of the year, the follow-up cash flow pressure is small, mainly due to the company's rich financing channels and strong ability to obtain cash flow: First, make full use of bank credit. At present, the company's bank credit reserves are relatively sufficient, with a total bank credit line of 52.7 billion yuan and a remaining credit line of 29.6 billion yuan by the end of 2023. The second is to make full use of the capital market. The main rating of Anshan Iron and Steel Co., Ltd. is AAA, with good qualifications and strong ability to raise funds in the capital market. After the internal approval process is completed in 2024, the issuance of bonds can be registered on the NAFMII market and the exchange market at any time.
The company's product exports and overseas layout
In order to adapt to the future international development, the company relies on the Bayuquan coastal base to build the company's sea port layout and continuously improve the ability to go to sea; the second is to continue to strengthen the construction of export channels, carry out steel export business through the international trading company under Anshan Iron and Steel Group, actively participate in the joint construction of the "Belt and Road" initiative, make overall planning for domestic and foreign markets, deepen overseas business layout, increase overseas sales scale, and strive to export about 7%-10% in the future. The third is to strengthen the international business philosophy, think about the construction of overseas processing capacity, and further enhance the international management ability.
The company's capital expenditure plan
In 2024, the company's key investment direction is environmental protection and emission reduction, quality improvement and product adjustment, energy saving and cost reduction, and capitalization repair, with an estimated annual investment of 4.205 billion yuan, of which 3.804 billion yuan is invested in fixed assets and 401 million yuan is invested in equity. In the future, the company will increase investment in technological transformation and production line upgrading, continue to strengthen environmental protection investment, and complete the ultra-low emission environmental protection publicity work on schedule.
The company's expectations for steel supply and demand
Looking forward to 2024, the steel industry is still facing complex and severe international and domestic situations, opportunities and challenges coexist, and the further downward pressure on the industry will increase. The opportunities mainly come from international flows
The dynamic pressure has been reduced, and a series of domestic policies to stabilize growth have been gradually released and strengthened, laying a good foundation for domestic and foreign demand; the challenges mainly come from the complex and changeable external environment, the increasing severity and uncertainty, as well as the domestic overcapacity, and the phased structural pressure brought about by the transformation of old and new kinetic energy.
The company's silicon steel products and future planning
The company's silicon steel production line is divided into two production lines, the eastern non-oriented silicon steel production line has a design capacity of 800,000 tons and the actual output of 1,070,400 tons in 2023, and the western production line has a design capacity of 60,000 tons of high-grade non-oriented silicon steel and 40,000 tons of oriented silicon steel, and the actual output of high-grade non-oriented silicon steel is 104,400 tons and the output of oriented silicon steel is 48,200 tons in 2023.
In the future, the company's overall production capacity of silicon steel will be increased after the upgrading of the production line. The production line in the eastern region is positioned in the high-grade non-oriented "home appliance silicon steel smart production line" and the economic benefit production line, and the western production line is positioned in the "high-end silicon steel smart production line" represented by high-grade high-grade non-oriented silicon steel and high-magnetic induction oriented silicon steel represented by new energy vehicles.
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Reviewer: Wang Bei
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