Resource and Production - As of December 31, 2020, the total resource amount for the four nickel-copper mines is estimated at 97,630,708 tons, with a total metal content of 484,587 tons of copper and 477,723 tons of nickel[10]. - The reserves for the Kalatongke nickel-copper mine are estimated at 19,437,837 tons, with a copper grade of 1.0% and a nickel grade of 0.60%, yielding 195,053 tons of copper and 117,577 tons of nickel[10]. - The company holds a 51% stake in the Xianghe Street and Mujiahe vanadium mines, which have a total resource amount of 26,569,500 tons and a total vanadium pentoxide content of 242,315 tons as of December 31, 2020[11]. - The company is the second-largest producer of electrolytic nickel in China, primarily engaged in the mining, selection, smelting, refining, and sales of nickel, copper, and other non-ferrous metals[8]. - The company acquired 100% ownership of the Kalatongke, Huangshandong, Huangshan, and Xiangshan nickel-copper mines, with the latter three acquired in 2009[8]. - The company produced 11,819 tons of electrolytic nickel in 2020, a growth of 6.65% from 2019[23]. - The company produced 11,001 tons of cathode copper in 2020, an increase of 27.9% from 2019[23]. - The company produced 795,765 tons of ore from the Kalatongke mine and 1,525,411 tons from Xinjiang Yakes and Hami Jubao in 2020[28]. - The company plans to produce 11,800 tons of electrolytic nickel and 11,277 tons of cathode copper in 2021, reflecting an expected increase in production levels compared to the previous year[33]. Financial Performance - In 2020, the company achieved operating revenue of RMB 1,853.9 million, an increase of 11.8% compared to 2019[24]. - The net profit for 2020 was RMB 179.2 million, a significant increase from RMB 24.8 million in 2019[24]. - The comprehensive profit attributable to the company's shareholders was RMB 151.8 million in 2020, compared to RMB 27.4 million in 2019[24]. - The average selling price of electrolytic nickel in 2020 was RMB 106,136 per ton, an increase of 8.5% from 2019[24]. - The average selling cost of electrolytic nickel decreased by 12.0% to RMB 69,826 per ton in 2020[24]. - The company sold 11,325 tons of electrolytic nickel in 2020, a decrease of 5.6% compared to 2019[24]. - The revenue from cathode copper was RMB 465.1 million in 2020, a 45.9% increase from RMB 318.8 million in 2019, with sales volume rising by 46.5%[46]. - The gross profit margin for the main business in 2020 was 22.4%, an increase of 3.9 percentage points from 18.5% in 2019[47]. - The company's total assets decreased by 4.1% to RMB 7,263.3 million in 2020, down from RMB 7,573.0 million in 2019[52]. - The net cash inflow from operating activities was RMB 352.3 million in 2020, an increase of RMB 76.1 million from RMB 276.2 million in 2019[52]. - The company's debt-to-equity ratio improved to 26.38% in 2020 from 29.94% in 2019, indicating a stronger financial position[54]. Investments and Future Plans - The company plans to expand its market presence through strategic partnerships and potential acquisitions in the non-ferrous metals sector[14]. - The company aims to increase its resource exploration activities to support future growth and sustainability initiatives[14]. - The company plans to invest RMB 257 million in 2021 for further enhancements in mining and environmental standards at the Kalatongke mine[36]. - The company has successfully acquired several mining companies, enhancing its nickel and copper resource reserves and production capacity, and plans to continue pursuing mergers and acquisitions in 2021[40]. - The company is focusing on improving management and operational efficiency in 2021 to ensure stable production and potential growth in electrolytic nickel and cathode copper output[32]. Corporate Governance - The board consists of eight members, including one executive director, four non-executive directors, and three independent non-executive directors[93]. - The board has adopted a diversity policy to enhance corporate governance, considering factors such as gender, age, cultural background, and professional experience when appointing directors[94]. - The board's responsibilities include approving the overall development strategy and annual business plans, as well as overseeing management performance[100]. - The company emphasizes a commitment to diversity and inclusion within the board, ensuring that all opinions are heard and respected[94]. - The company has a structured process for nominating and selecting board candidates, including background checks and assessments of independence[113][115]. Environmental and Social Responsibility - The company emphasizes safety and environmental protection, achieving its safety production goals in 2020 while adhering to national regulations[31]. - The company has implemented strict internal management to prevent child labor and forced labor, with no serious violations reported in 2020[165]. - The company is committed to investing in new technologies and processes to improve resource utilization and environmental protection[176]. - The company achieved a 100% utilization rate of industrial waste through various recycling measures, including using mining waste for underground filling and road paving[169]. - The company has a sulfur dioxide removal rate of 99.0% to 99.6% from its flue gas, meeting national emission standards[167]. Employee Management - The total number of employees as of December 31, 2020, was 2,151, with 878 employees under 35 years old, 850 between 35 and 50 years old, and 423 over 50 years old[153]. - The employee turnover rate for those under 35 years old was 3.30%, for those between 35 and 50 years old was 0.70%, and for those over 50 years old was 0.09%, with an overall turnover rate of 4.09%[153]. - The percentage of employees trained in 2020 was 78.24% for senior management, 75.95% for middle management, and 91.39% for other employees[162]. - The average training hours completed per employee in 2020 were 67 hours for senior management, 53 hours for middle management, and 28.76 hours for other employees[162]. Risk Management - The company has established a risk management policy that includes assessing business objectives, identifying risk factors, and implementing appropriate measures to manage risks[140]. - The board has conducted at least two reviews of the risk management and internal control systems during the year, focusing on management structure, accounting standards, and compliance with relevant laws[139]. - The internal audit department has been set up to ensure accurate and timely recording of accounting and management data, and to review the effectiveness of the risk management system[140].

Financial Performance - The consolidated operating revenue for the first half of 2020 was RMB 632.1 million, an increase of 6.3% compared to RMB 594.4 million in the same period last year[8]. - The net loss attributable to shareholders for the first half of 2020 was RMB 62.3 million, compared to a net loss of RMB 59.2 million in the same period last year[8]. - The basic loss per share attributable to shareholders was RMB 0.028, slightly higher than RMB 0.027 in the previous year[9]. - The group recorded a consolidated net loss of RMB 62.6 million, compared to a net loss of RMB 60.9 million in the same period last year[22]. - The company's operating loss for the six months ended June 30, 2020, was approximately RMB 74.92 million, compared to an operating loss of RMB 70.42 million for the same period in 2019, indicating a deterioration of about 6.0%[101]. - The total comprehensive loss for the six months ended June 30, 2020, was approximately RMB 62.60 million, compared to RMB 60.91 million for the same period in 2019, an increase of about 2.8%[103]. Revenue and Sales - The group's consolidated revenue was RMB 632.1 million, an increase of 6.3% from RMB 594.4 million in the same period last year[22]. - The production of electrolytic nickel was 5,849 tons, an increase of 6.9% from 5,474 tons in the same period last year[22]. - The sales volume of cathode copper was 6,248 tons, an increase of 89.1% from 3,304 tons in the same period last year[22]. - The group's revenue from copper concentrate decreased by 52.1% year-on-year to RMB 19 million, with an average selling price of RMB 7,294 per ton, down 23.3% compared to the same period last year[37]. - The sales volume of copper concentrate was 2,615 tons, a decline of 37.5% year-on-year, attributed to lower sales prices and quantities[37]. Costs and Expenses - The company faced increased production costs due to the impact of COVID-19, which led to a temporary suspension of mining operations from late January to March 2020[18]. - Sales and marketing expenses decreased by 9.6% year-on-year to RMB 16 million, primarily due to reduced transportation costs from lower sales volumes of electrolytic nickel and sulfuric acid[38]. - Administrative expenses fell by 10.3% year-on-year to RMB 51 million, mainly due to reduced employee compensation and related costs[39]. - The company's financial expenses (net) for the six months ended June 30, 2020, were approximately RMB 50.13 million, compared to RMB 48.52 million for the same period in 2019, an increase of about 3.3%[101]. Assets and Liabilities - As of June 30, 2020, total assets increased by 1.3% to RMB 7,673 million, while shareholders' equity decreased by 1.3% to RMB 4,198 million due to losses during the period[43]. - The total liabilities as of June 30, 2020, were RMB 3,474,843,383.72, compared to RMB 3,320,030,195.05 on December 31, 2019, indicating an increase of about 4.65%[98]. - The company's total liabilities to total assets ratio as of June 30, 2020, was approximately 45.3%, compared to 43.8% at the end of 2019, indicating a slight increase in leverage[98]. Cash Flow - The net cash inflow from operating activities was RMB 151.4 million, a significant increase from RMB 1.2 million in the same period last year, driven by higher sales revenue from cathode copper[43]. - The net cash flow from operating activities for the six months ended June 30, 2020, was RMB 151,383,114.42, a significant increase compared to RMB 1,228,574.68 for the same period in 2019[106]. - The net cash flow from financing activities was a negative RMB 132,361,566.84 for the six months ended June 30, 2020, compared to a negative RMB 244,303,704.65 in 2019, showing an improvement of approximately 45.7%[108]. Investments and Capital Expenditures - Capital expenditures for the six months ended June 30, 2020, totaled RMB 85.399 million, with 48.3% allocated to mining and related operations[65]. - Future investments include approximately RMB 151.8 million for mining expansion projects and RMB 137.0 million for refining capacity upgrades[66][67]. - The company plans to invest approximately RMB 8.8 million in exploration capital expenditures[68]. Corporate Governance - The board of directors consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors[90]. - The supervisory board held one meeting during the period with a 100% attendance rate[91]. - The audit committee reviewed the group's unaudited financial performance and confirmed compliance with relevant accounting standards[93]. - The company fully complies with the corporate governance code as per the listing rules during the reporting period[89]. Employee Information - The total number of employees as of June 30, 2020, is 2,186, with production personnel accounting for 67.98% of the workforce[86]. - Employee social insurance contributions range from 16% to 18% for pension insurance, 6% to 9% for medical insurance, and 0.5% for unemployment insurance, based on the total basic monthly salary[86]. Legal and Contingent Liabilities - The company is liable for a total of RMB 330 million in four loan judgments from the Xi'an Intermediate People's Court[57]. - As of June 30, 2020, the estimated liabilities for pending litigation were RMB 1.6153 billion, slightly increased from RMB 1.6152 billion as of December 31, 2019[60]. - The company is involved in ongoing litigation regarding bond claims amounting to approximately RMB 486 million[60]. Market Conditions - The prices of electrolytic nickel and cathode copper experienced significant declines during the pandemic but began to recover in June 2020[18]. - The company adopted a sales strategy of withholding sales to maximize profits, resulting in decreased sales volume of electrolytic nickel during the period[8]. Share Capital - The total issued share capital as of June 30, 2020, was 2.21 billion shares, with 65.66% being domestic shares and 34.34% H shares[80]. - As of June 30, 2020, Xinjiang Nonferrous Metals Industry (Group) Co., Ltd. holds 885,204,000 shares, representing approximately 61.01% of the relevant class shares and 40.06% of the total share capital[81].

Xinjiang Xinxin Mining Industry Co., Ltd.* 新 疆 新 鑫 礦 業 股 份 有 限 公 司 (於中華人民共和國註冊成立的股份有限公司) 股份代號 : 3833 179 年 度 報 告 目錄 | --- | --- | |-------|--------------------------| | | | | 2 | 公司資料 | | 5 | 財務資料概要 | | 6 | 主席報告書 | | 12 | 管理層討論與分析 | | 17 | 董事、監事及高級管理人員 | | 23 | 企業管治報告 | | 36 | 環境、社會及管治報告 | | 44 | 董事會報告 | | 56 | 監事會報告 | | 60 | 獨立審計師報告 | | 68 | 合併及公司資產負債表 | | 71 | 合併及公司利潤表 | | 73 | 合併及公司現金流量表 | | 75 | 合併股東權益變動表 | | 76 | 公司股東權益變動表 | | 77 | 財務報表附註 | | 191 | 財務報表補充資料 | 新疆新鑫礦業股份有限公司 1 公司資料 | --- | --- | --- | |-- ...

Xinjiang Xinxin Mining Industry Co., Ltd * 新疆 新 鑫 礦 業 股 份 有 限 公 司 〔於中華人民共和國註冊成立的股份有限公司〕 股份代號 : 3833 中 期 報 告 129 目錄 公司資料 2 3 公司業績 資源量和儲量 4 5 管理層討論與分析 14 董事權益 15 股本及股息 16 僱員及福利 17 企業管治 | --- | --- | |-------|----------------------------------| | | | | | | | 18 | 合併及公司資產負債表（未經審計） | | 20 | 合併及公司利潤表（未經審計） | | 22 | 合併及公司現金流量表（未經審計） | | 24 | 合併股東權益變動表（未經審計） | | 25 | 公司股東權益變動表（未經審計） | | 26 | 財務報表附註（未經審計） | 新疆新鑫礦業股份有限公司 1 公司資料 | --- | --- | |-----------------------------------------|--------------------------------- ...

Xinjiang Xinxin Mining Industry Co., Ltd.* 新 疆 新 鑫 礦 業 股 份 有 限 公 司 (於中華人民共和國註冊成立的股份有限公司) 股份代號 : 3833 20 年 度 報 告 無震別 目錄 2 公司資料 5 財務資料概要 6 主席報告書 11 管理層討論與分析 16 董事、監事及高級管理人員 22 企業管治報告 33 環境、社會及管治報告 40 董事會報告 53 監事會報告 57 獨立審計師報告 65 合併及公司資產負債表 68 合併及公司利潤表 70 合併及公司現金流量表 72 合併股東權益變動表 73 公司股東權益變動表 74 財務報表附註 196 財務報表補充資料 新疆新鑫礦業股份有限公司 1 公司資料 | --- | --- | |-------------------------------------------------|-------------------------------------------------------------------------------------| | | | | | | | 執行董事 | 公司秘書 | ...