CITIC Dameng Holdings Limited 中信大猛控股有限公司* (於百慕達註冊成立之有限公司) 股份代號 : 1091 中期報告 19 * 僅供鐵別 目錄 頁次 2 公司資料 財務業績 | --- | --- | |-------|------------------------------------------| | | | | 3 | 中期簡明綜合損益及其他全面收益表 | | 4-5 | 中期簡明綜合財務狀況表 | | 6-7 | 中期簡明綜合權益變動報表 | | 8 | 中期簡明綜合現金流量表 | | 9-40 | 中期簡明綜合財務報表附註 | | | 其他資料 | | 41-55 | 管理層討論及分析 | | 56-58 | 人力資源報告 | | 59-70 | 環境、社會及管治報告 | | 71-78 | 我們的錳礦資源摘要及我們的錳礦石儲量摘要 | | 79 | 企業管治常規守則 | | 79 | 董事進行證券交易的標準守則 | | 79 | 董事及最高行政人員在股份及相關股份的權益 | | 80 | 購股權計劃 | | 81 | 主要股東及其他人士在股份及相關股份的權益 | ...

Financial Performance - In 2018, the company's revenue reached HKD 6,736,228 thousand, a 12.4% increase from HKD 5,991,436 thousand in 2017[8] - The company's profit before tax was HKD 343,985 thousand, compared to HKD 146,622 thousand in the previous year, marking a significant increase[8] - The net profit attributable to the owners of the parent company was HKD 330,931 thousand, up from HKD 140,851 thousand in 2017, reflecting a growth of 134%[8] - The gross profit for 2018 was HKD 852,373,000, up 52.3% from HKD 559,753,000 in 2017, with a gross margin of 12.7%, an increase of 3.4% from 9.3% in 2017[89][92] - Operating profit attributable to shareholders was HKD 308,644,000, representing a significant increase of 126.2% compared to HKD 136,434,000 in 2017[89] - The net profit for the year was HKD 336,855,000, a 138.3% increase from HKD 141,382,000 in 2017[89] - The company reported a pre-tax profit of HKD 343,985,000, which is 134.6% higher than HKD 146,622,000 in the previous year[89] - The company’s net profit attributable to shareholders for 2018 was HKD 330,900,000, an increase from HKD 140,900,000 in 2017, representing a growth of 134%[146] - Earnings per share for ordinary shareholders in 2018 was HKD 0.0965, compared to HKD 0.0411 in 2017, indicating a significant increase of 134%[147] Assets and Liabilities - Total assets increased to HKD 9,618,379 thousand in 2018, compared to HKD 8,752,162 thousand in 2017, representing a growth of 9.9%[8] - The company's non-current assets decreased to HKD 5,023,157 thousand from HKD 5,413,627 thousand in 2017, indicating a decline of 7.2%[8] - Current assets rose to HKD 4,595,222 thousand, a 37.6% increase from HKD 3,338,535 thousand in 2017[8] - Total liabilities increased to HKD 6,451,896 thousand, up from HKD 5,785,063 thousand in 2017, which is a rise of 11.5%[8] - As of December 31, 2018, the net debt ratio decreased to 96.0% from 99.8% in 2017[94] - The company's net current liabilities significantly decreased to HKD 371.6 million as of December 31, 2018, down from HKD 1,393.6 million in 2017, due to improved operating profit and efforts to enhance the maturity structure of borrowings[158] Revenue Sources - The revenue from battery materials products saw a substantial increase in 2018, establishing the company as an industry leader and becoming an important income source beyond EMM business[15] - The revenue from the electrolytic manganese and alloy materials production segment was HKD 3,429.2 million, with a gross margin of 33.2%[106] - The revenue from battery materials production rose by 32.1% to HKD 682.1 million in 2018, compared to HKD 516.3 million in 2017[99] - The average price of electrolytic manganese increased by 20.1% to HKD 14,613 per ton in 2018, compared to HKD 12,166 per ton in 2017[99] - The overall manganese mining revenue decreased by 60.9% to HKD 213,300,000 in 2018, down from HKD 546,100,000 in 2017[113] Strategic Initiatives - The company completed the acquisition of 100% equity in Hu Yuan Manganese, significantly enhancing production capacity for electrolytic manganese dioxide and providing immediate profit contributions[18] - The Gabon project increased production capacity, achieving manganese ore sales of 740,000 tons, contributing significantly to the group's revenue[14] - The company plans to actively seek and prudently evaluate quality investment projects that align with its development strategy to further expand its business scale and asset base[18] - The company plans to expand its product chain with lithium manganese oxide, a downstream product of electrolytic manganese dioxide[122] - The company plans to improve its liquidity and capital structure through various financing methods, with a focus on long-term financing to reduce debt ratios and potentially expand its shareholder base[187] Market and Competitive Position - The company emphasized resource optimization and product structure improvement to enhance market competitiveness and value[12] - The company is committed to continuous improvement in production processes to reduce energy consumption and increase efficiency[13] - The company’s management emphasizes market-oriented strategies, continuously adjusting production, sales, and trading strategies based on market dynamics[18] - The company expects continued demand for electrolytic manganese and alloys due to rising steel production in China, despite competitive market pressures[185] Shareholding and Governance - The company has a shareholding structure where Mr. Li Weijian holds 15,000,000 stock options, representing approximately 0.44% of the issued share capital[52] - Mr. Chen Jiqiu holds 9,000,000 stock options, accounting for about 0.26% of the issued share capital[52] - The company has established a share option scheme aimed at incentivizing qualified individuals, including full-time and part-time employees, to contribute to the company[54] - The company’s remuneration policy for directors is designed to provide competitive market salaries to attract and retain talent[47] - The board of directors has undergone changes, with Mr. Wang Chunxin appointed on October 21, 2018, following the resignation of Mr. Mo Shijian on July 21, 2018[44] Compliance and Risk Management - The company maintained compliance with the listing rules regarding continuing connected transactions throughout 2018[84] - The independent non-executive directors confirmed that the continuing connected transactions were conducted on normal commercial terms and in the best interest of shareholders[79] - The auditor, Ernst & Young, provided an unqualified opinion on the company's continuing connected transactions, affirming their compliance with relevant regulations[79] - The company has a non-competition agreement with CITIC Resources, ensuring no direct or indirect competition in related businesses[50] - The company has implemented a strategy to mitigate foreign exchange risks by entering into forward currency contracts for significant procurement agreements[183] Community and Social Responsibility - The company made charitable donations totaling HKD 688,000 during the year, an increase from HKD 304,000 in the previous year[38]