Revenue and Financial Performance - Revenue from continuing operations for the year ended 31 December 2021 was approximately HK$1,350,367,000, representing a 107.46% increase compared to the previous year's HK$650,915,000[19][32] - The increase in revenue was primarily driven by higher revenue from the company's mining operations and chemical trading operations compared to the previous year[19][32] - The Group recorded a loss attributable to owners of approximately HK$359.90 million for the year ended 31 December 2021, a decrease of 86.17% compared to the previous year, primarily due to no impairment or write-offs of assets and increased revenue[55] - The Group recorded a cash inflow of approximately HK$3,360,000 in 2021, compared to HK$1,935,000 in 2020, primarily due to increased cash inflow from operating activities[68] - The Group's current ratio decreased to approximately 0.15 in 2021 from 0.19 in 2020, mainly due to a provision for environmental and resource tax of approximately HK$105,428,000[68] - The Group's debt to equity ratio improved to a deficit of approximately 2.97 in 2021 from 3.58 in 2020, driven by an increase in loss attributable to the owners of the Company[68] - No dividend was recommended for the year ended 31 December 2021[72] - The Company did not pay any dividends for the year ended 31 December 2021, consistent with 2020[131] Mining Operations - The company has two mineral mines: a Molybdenum Mine and a Potassium Feldspar Mine[20] - The mining license for the Molybdenum Mine has been renewed and is valid until 22 February 2034[7] - Despite the halt in mining activities, the company has been able to process mined ore in stock into molybdenum concentrate for sales to customers[7] - The demand for molybdenum in China is expected to continue increasing due to the transformation of the steel industry and the production of high-quality special steel[3] - The company expects the molybdenum market to continue improving in 2022[3] - Molybdenum concentrate production was halted in 2021 due to expired exploitation licenses, with no production recorded (2020: Nil)[33] - The average selling price of molybdenum concentrate increased to HK$81,977 per tonne in 2021, up from HK$58,431 per tonne in 2020[33] - Mining operations generated revenue of HK$179,534,000 in 2021, with HK$143,471,000 from molybdenum concentrate sales and HK$36,063,000 from sulfuric acid and iron concentrate sales[33] - Gross profit margin for mining operations rose to 32.49% in 2021, a significant increase from 12.38% in 2020, driven by higher molybdenum concentrate prices[33] - The potassium feldspar mine has estimated resources of 63.2 million tonnes (indicated) and 40.5 million tonnes (inferred), but generated no revenue in 2021[36] - Major assets in mining operations as of 31 December 2021 were valued at approximately HK$1,408,810,000, with no impairment recognized[39] - The Group's mining operations were hindered by financial difficulties and the expiry of the molybdenum mine license, but efforts to renew the license were confirmed by the relevant government department in April 2022[60] - The mining license has been successfully renewed and is valid until 22 February 2034, granted by the Ministry of Natural Resources of the PRC on 10 February 2023[160] Chemical Trading Operations - Chemical trading operations contributed HK$1,170,833,000 in revenue and HK$4,669,000 in segment profit for 2021[39] - The Group disposed of a non-fully owned subsidiary engaged in mineral resources trading in April 2021, which was a minor business segment[39] - The Company discontinued its mineral resources trading operations during the year[139][141] Financial Position and Liabilities - Current assets as of 31 December 2021 were approximately HK$460.37 million, with cash and cash equivalents at HK$20.73 million, inventories at HK$236.89 million, and prepayments, deposits, and other receivables at HK$185.36 million[47] - Current liabilities as of 31 December 2021 were approximately HK$3,091.04 million, including bank loans and other borrowings of HK$1,388.38 million, trade and bill payables of HK$273.54 million, and other payables and accruals of HK$891.36 million[47] - The Group entered into a standstill deed to convert a HK$250 million convertible bond into a bond at 100% of its principal amount with Sfund International[47] - As of 31 December 2021, the Group had outstanding bank loans and other borrowings of approximately HK$1,399,387,000, a decrease from HK$1,441,716,000 in 2020[68] - The Group's bank loans and other borrowings were secured by guarantees, pledged property, plant, equipment, and prepaid land leases, with effective interest rates ranging from 6.09% to 30% per annum[72] Corporate Governance and Leadership Changes - Ms. Guo Xiao Ying was appointed as the chairman of the Remuneration Committee effective 9 November 2021 but resigned as an independent non-executive director and committee member effective 1 April 2022[51] - Mr. Zhao Jian resigned as an executive Director and chairman of the Remuneration Committee effective 21 October 2021[102] - Mr. Shen Jian was appointed as an executive Director and member of the Remuneration Committee effective 9 November 2021[102] - Mr. Wong Wai Chun Alex resigned as an independent non-executive Director and chairman of the Audit Committee effective 15 December 2021[102] - Mr. Zhang Jia Kun resigned as an executive Director and member of the corporate governance and financial reporting committees effective 19 January 2022[102] - Dato Dr. Cheng Chak Ho Tony resigned as an independent non-executive Director and member of the Audit, Remuneration, and corporate governance committees effective 1 April 2022[102] - The Audit Committee chairman position is vacant, and the number of independent non-executive directors and Audit Committee members is below the minimum requirement as per Listing Rules 3.10(1) and 3.21[127] - The process of identifying suitable candidates to fill vacancies was halted due to the company being ordered to wind up on 16 May 2022[128] - The company has faced challenges in filling vacancies due to a court-ordered liquidation on 16 May 2022[152] Liquidation and Legal Proceedings - The Company was ordered to undergo liquidation by the Hong Kong Court of First Instance on 18 July 2022, with joint and several liquidators appointed[50] - The Company was ordered to be wound up by the High Court of Hong Kong on 16 May 2022, with the Official Receiver appointed as the Provisional Liquidator[74] - The Company submitted a resumption proposal to the Stock Exchange on 27 September 2022, outlining actions to fulfill resumption conditions, including capital reorganization and fund injection by Huatune Corporation[100] Environmental and Safety Management - The company is continuously improving management rules and strengthening supervision in safety and environmental protection, allocating more funds for technology and equipment upgrades to promote energy saving and emission reduction[124] - The company's mining operations primarily involve the extraction and production of molybdenum concentrate, which poses significant risks to reputation and assets in case of safety or environmental incidents[125] - The Company faces safety and environmental risks in its molybdenum concentrate mining operations, with potential for significant reputational and asset losses in case of accidents[145] - The Company is enhancing safety and environmental management through rule improvements, responsibility allocation, increased supervision, and employee training[147] - The Company is investing in technology and equipment upgrades to improve energy efficiency and emissions reduction[147] - The company has taken initiatives to reduce energy consumption and encourage the recycling of office supplies and other materials, with ongoing reviews and promotions of environmental policies[149] - The company's environmental policies performance includes ongoing efforts to reduce energy consumption and promote recycling[149] Market and Economic Risks - The Group faces economic environment risks due to macro-economic and policy changes in Mainland China and abroad, affecting mining, property management, and chemical trading operations[94] - Market price risks are significant due to sharp fluctuations in molybdenum concentrate and chemical product prices, influenced by supply-demand changes, market uncertainty, and external factors like economic conditions and natural disasters[94] - The Company is strengthening its market price risk control capabilities and continuously improving production cost and expense control[145][146] Shareholder and Subsidiary Information - As of 31 December 2021, the substantial shareholders' interests in the company's shares include: Qian Yong Wei with 14.51%, Xu Zhe Cheng with 14.51%, China Wan Tai Group Limited with 13.46%, and China Huarong Asset Management Company with 20.92%[172] - The company's principal subsidiaries as of 31 December 2021 are detailed in Note 42 to the consolidated financial statements[165] - The company's share capital movements during the year are detailed in Note 26 to the consolidated financial statements[165] - Directors' remuneration for the financial year is set out in Note 12 to the consolidated financial statements[160] - The company's directors' interests in shares as of 31 December 2021 show no interests or short positions in any shares, underlying shares, or debentures of the company or its associated corporations[160] Compliance and Ethical Practices - The company has complied with relevant laws and regulations, except for non-compliances arising from the resignation of Mr. Wong, which led to vacancies in the Board and Audit Committee[150][151] - No incidents of intellectual property violations were reported during the reporting period[178] - The Group conducts marketing campaigns in compliance with advertising laws and regulations to attract customers and improve sales[179] - No significant issues related to corruption, bribery, extortion, fraud, or money laundering were reported during the reporting period[181] - The Group actively engages with communities to build harmonious relationships and integrates stakeholder views into operations[182] - The Group ensures fair and reasonable conditions for suppliers and evaluates their products to meet requirements, replacing suppliers when necessary[176] Financial Reporting and Impairment Assessment - The consolidated financial statements for 2021 were prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and comply with disclosure requirements[195] - The management determined the recoverable amounts of CGUs based on the present value of expected future cash flows for impairment assessment[200] - Financial risks are detailed in Note 39 of the consolidated financial statements[126] Employee and Operational Efficiency - The Group employed 669 full-time employees as of 31 December 2021, down from 763 in 2020[72] - The Group aims to expand its mineral resources and improve operational efficiency to enhance future financial performance and profitability[42] - The Group is focused on expanding its mineral resources and improving operating efficiency to enhance future financial performance and profitability[67] - The Group's principal activities include investment holdings, mining operations (exploitation and exploration of mineral resources), and chemical trading operations[90]

North Mining Shares Company Limited Annual Report 2020 Report of the Directors Report of the Directors North Mining Shares Company Limited Annual Report 2020 本公司將參考企業管治之最新發展趨勢，定期檢 討及改善其企業管治常規。 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------|----------------|-----------------------------|----------------------------------------|----------------------------------------|-------------------------------------------|------------------------------------------|--------------- ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 佈 之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 佈 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 NORTH MINING SHARES COMPANY LIMITED 北方礦業股份有限公司 （清盤中） （於百慕達註冊成立之有限公司） （股份代號：433） 截 至 二 零 二 零 年 十 二 月 三 十 一 日 止 年 度 之 經 審 核 全 年 業 績 公 佈 本 公 佈 乃 由 北 方 礦 業 股 份 有 限 公 司（清 盤 中）（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）作 出，以 宣 佈 本 集 團 截 至 二 零 二 零 年 十 二 月 三 十 一 日 止 年 度 之 經 審 核 業 績（「全 年 業 績」）。 謹 此 提 述 本 公 司(i)日 期 為 二 零 二 一 年 三 月 三 ...

NOLTH North Mining Shares Company Limited 北方礦業股份有限公司 (於百慕達註冊成立之有限公司) (股份代號：433) 中期報告 2020 公司資料 | --- | --- | |--------------------------------|----------------------------------------| | | | | 董事 | 核數師 | | 執行董事 | 関元信德會計師事務所有限公司 | | 楊英民(主席兼行政總裁) | 執業會計師 | | 錢一棟(副主席) | | | 張家坤 | 註冊辦事處 | | 趙劍 | Clarendon House | | | 2 Church Street | | 獨立非執行董事 | Hamilton HM 11 | | 王偉俊 | Bermuda | | 鄭澤豪 | 總辦事處及主要營業地點 | | 楊日泉 | 香港 | | (於二零二零年六月三十日辭任) | | | | 牆仔 | | 公司秘書 | 港灣道6–8號 | | 何詠欣 | 瑞安中心 20樓 2009–18 室 | | | | | 審核委員會 | 主要 ...

NOLTH NORTH MINING SHARES COMPANY LIMITED 北方礦業股份有限公司 (Provisional Liquidators Appointed) (For Restructuring Purposes) (已委任臨時清盤人) (以重組為目的) (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (Stock Code 股份代號 : 433) Annual Report 2019 Contents 目錄 | --- | --- | |-------------------------------------------------------------------------|--------------------------| | | | | Corporate Information | 公司資料 | | Management Discussion and Analysis | 管理層討論及分析 | | Biographical Details of Directors | 董事履歷 | | R ...

North Mining Shares Company Limited （股份代號：433） （於百慕達註冊成立之有限公司） 2019中期報告 公司資料 公司資料 | --- | --- | --- | |----------------------------------------------------------------------------------------------|----------------------------------------------------------|--------------------------------------------------------------------------------| | | | | | 董事 | 主要往來銀行 | | | 執行董事 楊英民 （主席兼行政總裁） 錢一棟 （副主席） 張家坤 | | 中信銀行（國際）有限公司 中國建設銀行（亞洲）股份有限公司 華僑永亨銀行有限公司 | | 趙劍 | 核數師 | | | 獨立非執行董事 王偉俊 | 執業會計師 | 開元信德會計師事務所有限公司 | | （於二零一九年 ...

North Mining Shares Company Limited 北方礦業股份有限公司 (Incorporated in Bermuda with limited liability) (Stock Code 股份代號: 433) （於百慕達註冊成立之有限公司） 2018年報 Annual Report Contents 目錄 | --- | --- | |--------------------------------------------------------------------------|--------------------------| | | | | Corporate Information | 公司資料 | | Management Discussion and Analysis | 管理層討論及分析 | | Biographical Details of Directors | 董事履歷 | | Report of the Directors | 董事會報告 | | Corporate Governance Report | 企業管治報告 | | Environmental ...