证券代码：600338 证券简称：西藏珠峰 公告编号：2023-032 西藏珠峰资源股份有限公司 关于控股股东所持部分股份被司法处置拍卖的 进展公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及 连带责任。 1、截至本公告披露日，塔城国际持有本公司股份 180,842,552 股无限售流 通股，占公司总股本的 19.78%。本次将被处置拍卖的股份为塔城国际持有的公 司 34,000,000 股股份，占公司总股本的 3.72%。后续如继续处置，不会导致公 司控股股东和实际控制人发生变化。 2、公司将密切关注上述事项的后续处置进展情况，根据上海证券交易所《股 票上市规则》等的有关规定，及时履行信息披露义务。 1 3、公司发布的信息以指定媒体《中国证券报》、《上海证券报》、《证券时报》 和上海证券交易所网站（www.sse.com.cn）刊登的公告为准，敬请投资者注意投 资风险。 特此公告。 西藏珠峰资源股份有限公司（以下简称"公司"）于 2023 年 7 月 29 日披露 了《关于控股股东所持公司部分股份被司法处置拍卖的提 ...

Financial Performance - The company's operating revenue for the current period is ¥932,603,584.39, a decrease of 9.17% compared to ¥1,026,753,710.00 in the same period last year[66]. - Operating costs increased by 41.45% to ¥473,689,920.84 from ¥334,876,977.23 in the previous year[66]. - The net cash flow from operating activities decreased by 31.69% to ¥245,729,602.29 from ¥359,732,237.60 in the same period last year[66]. - Financial expenses surged by 190.38%, amounting to ¥138,649,685.31, compared to a negative ¥153,414,491.20 in the previous year[66]. - The net cash flow from investment activities improved by 13.86%, reaching -¥250,262,886.27 from -¥290,524,985.53[66]. - The net cash flow from financing activities improved by 55.51%, amounting to -¥42,429,432.61 compared to -¥95,374,563.83 in the previous year[66]. - Non-recurring gains and losses included a disposal gain of non-current assets amounting to ¥57,422.24[61]. - The total impact of non-recurring gains and losses after tax was -¥12,419,223.13[61]. - The company reported a basic earnings per share of RMB 0.0685 for the first half of 2023, compared to RMB 0.4888 in the same period of 2022[122]. - Net profit attributable to the parent company for the first half of 2023 was RMB 86,284,814.61, down from RMB 720,032,555.12 in the first half of 2022, indicating a decline of 88.00%[122]. - The total comprehensive income for the current period is reported as -80,674,778.51, indicating a loss[197]. Assets and Liabilities - As of June 30, 2023, total current assets amounted to approximately ¥833.74 million, an increase from ¥637.28 million as of December 31, 2022, representing a growth of about 30.8%[114]. - Total liabilities increased to approximately ¥2.09 billion from ¥1.83 billion, representing a growth of about 14.5%[115]. - The company's total assets reached approximately ¥5.73 billion, up from ¥5.38 billion, indicating an increase of about 6.5%[115]. - The total liabilities increased to RMB 2,144,345,801.60 from RMB 1,889,620,366.27, representing a growth of 13.48%[120]. - The company's total liabilities decreased slightly from CNY 1,992,141,187.92 to CNY 1,984,512,803.46, a reduction of about 0.38%[175]. Cash Flow - Cash flow from operating activities was RMB 1,060,282,696.27, down from RMB 1,541,289,659.05, a decrease of 30.12%[151]. - The net cash flow from operating activities was $245,729,602.29, a decrease of 31.6% compared to $359,732,237.60 in the previous period[157]. - Cash outflows from operating activities totaled $844,638,634.53, down from $1,209,451,037.12, indicating a reduction of 30.2%[157]. - The total cash and cash equivalents at the end of the period were $110,656.70, a decrease from $1,400,614.71 in the previous period[157]. Inventory and Assets Management - Inventory is primarily classified into raw materials, work in progress, and finished goods, with a perpetual inventory system in place[29]. - The company measures inventory at the lower of cost and net realizable value, and provisions for inventory impairment are made when necessary[29]. - Cash and cash equivalents decreased by 51.22% to approximately CNY 28.57 million, while accounts receivable increased by 83.34% to approximately CNY 116.80 million[92]. - Inventory increased by 24.29% to approximately CNY 258.97 million, and other current assets rose by 54.91% to approximately CNY 272.68 million[92]. Financial Instruments and Risk Management - The company classifies financial assets into three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[12]. - Financial assets measured at amortized cost include receivables, long-term receivables, and debt investments, with initial measurement at fair value[12]. - Expected credit losses for financial instruments are determined based on the present value of the difference between contractual cash flows and expected cash flows[15]. - The company assesses credit risk changes for financial instruments at each reporting date, measuring loss provisions based on significant increases in credit risk[15]. - Financial assets are classified as credit-impaired when adverse events affecting future cash flows are anticipated, including significant financial difficulties of the issuer or debtor[21]. - The expected credit loss for accounts receivable is determined based on the entire lifetime expected credit loss amount[24]. Corporate Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[36]. - The company does not distribute cash dividends to all shareholders during the reporting period[38]. - The company has not disclosed any significant related party transactions during the reporting period[103]. - The company is committed to maintaining independence in assets, personnel, finance, and operations as per the commitments made by its actual controllers[79]. Market and Operational Insights - The company primarily engages in non-ferrous metal mining and is advancing the development of lithium salt products from salt lakes[86]. - The average prices of zinc, lead, copper, and silver decreased by 26.03%, 6.15%, 10.84%, and 0.03% respectively compared to the same period last year[86]. - The company faces risks related to product price fluctuations, foreign exchange rate volatility, and country-specific risks in overseas resource development[96]. - The company won a silver award for its geophysical exploration project in Tajikistan, highlighting its application of new technologies[89].

证券代码：600338 证券简称：西藏珠峰 公告编号：2023-018 投资者可于 2023 年 05 月 30 日(星期二)至 06 月 05 日(星期一)16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （zhufengdb@zhufenggufen.com）进行提问。公司将在说明会上对投资者普遍 关注的问题进行回答。 西藏珠峰资源股份有限公司 关于召开 2022 年度及 2023 年第一季度业绩 说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2023 年 06 月 06 日(星期二)下午 14:00-15:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 西藏珠峰资源股份有限公司（以下简称"公司"）已于 2023 年 4 月 29 日披 露了公司 2022 年度报告及 2023 年第一季度报告，为便于广大投资者更全面深入 地了解公司的经营成果 ...

Financial Performance - The company reported a revenue of 1.2 billion in 2022, representing a year-over-year growth of 15%[34]. - The company provided a forward guidance of 1.5 billion in revenue for 2023, indicating a projected growth of 25%[34]. - The total revenue for the year 2022 was approximately 232.66 million RMB, with a net profit of about 80.64 million RMB[72]. - The company reported an increase in construction projects, with a total investment of 120.82 million RMB during the period, leading to a year-end balance of 17.15 million RMB[72]. Inventory and Assets - The total inventory at the end of the period amounted to CNY 208,361,712.27, an increase from CNY 127,819,566.88 at the beginning of the period, representing a growth of approximately 63%[1]. - The raw material inventory increased from CNY 101,152,075.34 to CNY 143,863,928.02, reflecting a rise of about 42%[1]. - The total amount of other current assets at the end of the period was CNY 176,022,713.17, up from CNY 168,139,826.07 at the beginning, indicating an increase of approximately 4.5%[1]. - The total amount of contract assets and significant changes in their book value were not applicable for this reporting period[4]. - The total original value of fixed assets at the beginning of the period was CNY 2,630,339,928.86, with an increase of CNY 1,168,773,509.60 during the period[16]. - The construction in progress amounted to CNY 537,440,494.82, with significant contributions from various projects including the Argentina Salt Lake project valued at CNY 92,679,989.80[23]. Fixed Assets and Depreciation - Fixed assets increased from CNY 1,954,334,511.24 at the beginning of the period to CNY 2,627,504,338.80 at the end, representing a growth of approximately 34.4%[16]. - The accumulated depreciation at the end of the period was CNY 1,166,156,039.21, with a current period increase of CNY 495,427,580.35[19]. - The accumulated depreciation for investment properties at the end of the period was CNY 3,898,208.51, up from CNY 3,743,693.63 at the beginning, reflecting an increase of approximately 4.1%[15]. - The book value of investment properties at the end of the period was CNY 1,611,765.71, down from CNY 1,766,280.59 at the beginning, indicating a decrease of about 8.8%[15]. Regulatory and Compliance Issues - The company faced regulatory scrutiny due to failure to implement a profit distribution plan approved by the shareholders' meeting, involving approximately 274 million yuan[43]. - The company has been under regulatory attention since April 2021 due to non-compliance with profit distribution regulations[43]. - The company received a regulatory warning from the Shanghai Stock Exchange for failing to timely disclose material information regarding the lithium project[46]. - The company has committed to ensuring accurate and timely disclosures to avoid misleading statements in the future[46]. Management and Governance - The company appointed several new executives, including a new president and multiple vice presidents, as part of its management restructuring[41]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 12.0754 million yuan[39]. - The company has established a remuneration policy applicable to its employees, ensuring competitive compensation structures[70]. - The board of directors consists of 7 members, including 4 directors and 3 independent directors, with expertise in mining, strategic research, accounting, finance, investment, and sustainable development[94]. Strategic Initiatives and Future Plans - The company is investing 200 million in R&D for new technologies aimed at improving mining efficiency[34]. - The company plans to continue investing in fixed asset expansion to support future growth initiatives[22]. - The company aims to reduce operational costs by 15% through improved supply chain management[34]. - The company plans to expand its production capacity significantly, with a target of 600,000 tons per year, supported by a series of export contracts[179]. Employee and Talent Management - The company has a total of 317 employees with a university degree or higher, representing approximately 16.8% of the total workforce[69]. - The training program includes a systematic approach to improve employee skills and safety awareness, with a focus on internal talent development[122]. - The company has implemented a competitive compensation policy to attract talent, focusing on key positions and local talent retention[121]. Environmental and Sustainability Efforts - The board of directors emphasized a commitment to sustainability initiatives, targeting a 30% reduction in carbon emissions by 2025[34]. - The company has adopted measures to reduce carbon emissions, including promoting variable frequency drive technology to enhance energy efficiency in high-energy-consuming motors[151]. - The company has not reported any environmental protection expenditures during the reporting period[149]. Shareholder and Ownership Structure - Xinjiang Tacheng International Resources Co., Ltd. is identified as the controlling shareholder, with a significant role in the company's operations[193]. - The second largest shareholder, Liu Meibao, holds 12,048,583 shares, indicating a strong concentration of ownership among top shareholders[193]. - The company has not reported any changes in controlling shareholders during the reporting period[196]. - There are no strategic investors or general legal entities among the top 10 shareholders due to the absence of new share placements[193].

Financial Performance - The company's operating revenue for the first quarter was CNY 503,165,872.67, representing a decrease of 3.42% compared to the same period last year[9]. - The net profit attributable to shareholders of the listed company was CNY 4,367,126.59, down 94.64% year-on-year[9]. - The basic and diluted earnings per share were both CNY 0.0048, reflecting a decline of 94.64% compared to the previous year[9]. - The company reported a total comprehensive income attributable to the parent company of CNY -140,392,007.85, compared to CNY -124,876,357.05 in the previous period[4]. - The company's net profit for Q1 2023 was 9,006,657.60 RMB, a significant decrease of 94.64% year-over-year compared to 75,629,415.11 RMB in Q1 2022[34]. - The company reported a total profit of -12,488,578.03 RMB for Q1 2023, compared to a profit of 148,499,161.38 RMB in Q1 2022[28]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 289,815,751.71, showing a slight increase of 0.22% year-on-year[9]. - Operating cash inflow for Q1 2023 was RMB 763,197,841.75, an increase from RMB 704,091,876.92 in Q1 2022, representing a growth of approximately 8.5%[54]. - Cash outflow for purchasing goods and services was RMB 250,257,737.34, compared to RMB 127,354,288.48 in the same period last year, indicating a significant increase of approximately 96.5%[54]. - Net cash flow from financing activities was -RMB 36,921,492.14, an improvement from -RMB 96,114,757.54 in Q1 2022, showing a reduction in cash outflow by approximately 61.6%[56]. - The ending balance of cash and cash equivalents was RMB 147,451,450.86, down from RMB 165,214,265.59 at the end of Q1 2022[56]. - The company reported a net cash flow from operating activities of RMB 289,815,751.71, slightly up from RMB 289,169,853.54 in the previous period[41]. Assets and Liabilities - Total liabilities amounted to CNY 1,889,620,366.27, a decrease from CNY 1,899,444,909.30 in the previous period[5]. - Total assets as of Q1 2023 were ¥5,469,320,894.33, an increase from ¥5,376,938,070.58 in Q1 2022, reflecting a growth of 1.7%[21]. - Total liabilities rose to ¥2,061,236,907.42 in Q1 2023 from ¥1,889,620,366.27 in Q1 2022, an increase of 9.1%[21]. - Shareholders' equity totaled ¥3,408,083,986.91 in Q1 2023, compared to ¥3,487,317,704.31 in Q1 2022, indicating a decrease of 2.3%[21]. - The equity attributable to shareholders of the listed company decreased by 2.51% to 3,399,941,996.30 RMB from 3,487,499,244.71 RMB[28]. - The company has a total current liabilities of approximately $1.68 billion, with short-term borrowings at $246.72 million[58]. Expenses and Costs - Total operating costs increased significantly to ¥500,788,786.08 in Q1 2023 from ¥368,203,310.66 in Q1 2022, representing a rise of 35.9%[22]. - Sales expenses for Q1 2023 were ¥5,347,084.45, down from ¥26,690,221.24 in Q1 2022, indicating a decrease of 80.0%[22]. - Management expenses rose to ¥70,853,763.00 in Q1 2023, compared to ¥46,241,022.95 in Q1 2022, an increase of 53.3%[22]. - Financial expenses for Q1 2023 were ¥161,706,950.61, up from ¥101,747,160.37 in Q1 2022, marking a rise of 58.9%[22]. - Cash outflow for investment activities was RMB 166,577,802.04, significantly higher than RMB 85,486,601.16 in Q1 2022, indicating an increase of approximately 95%[41]. Market and Project Developments - The company is actively pursuing market cooperation for the development of the lithium salt lake project in Argentina, with a 4.5-month exclusivity period established with Hongqiao Group[34]. - The company plans to submit an updated environmental impact report to the Argentine government to obtain necessary administrative approvals for the project[34]. - The company is advancing the investment construction of a lithium extraction project with an annual capacity of 50,000 tons of lithium carbonate in Argentina[70]. - The company received the Silver Award from the Chinese Geophysical Society for its innovative exploration technology in January 2023, being the only mining company recognized among nine awarded projects[70]. Other Financial Metrics - The weighted average return on net assets was 0.13%, down 2.86% year-on-year[9]. - The company experienced a foreign exchange loss of 143 million RMB due to a 7.76% depreciation of the Tajik Somoni[34]. - The average sales price of the company's concentrate products decreased by 13.62% due to falling LME metal prices[34]. - The mining output for Q1 2023 was 604,000 tons, representing an 11.53% decline compared to the same period last year[34]. - The company recorded a non-operating expense of 449,275.57 RMB in Q1 2023, compared to 1,320,120.53 RMB in the previous year[28].

Financial Performance - The company's operating revenue for Q3 2022 was ¥508,927,178.37, representing a year-on-year increase of 0.50%[7] - The net profit attributable to shareholders for Q3 2022 was ¥102,055,196.06, a decrease of 49.34% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥123,308,309.31, down 42.93% year-on-year[7] - Total operating revenue for the first three quarters of 2022 reached ¥1,535,680,888.37, a slight increase from ¥1,500,168,683.93 in the same period of 2021, representing a growth of approximately 2.5%[39] - Net profit for the first three quarters of 2022 was ¥546,505,146.62, down from ¥617,402,081.53 in 2021, reflecting a decline of approximately 11.5%[42] - The company’s total profit for the first three quarters of 2022 was ¥676,289,371.71, down from ¥720,155,156.70 in 2021, reflecting a decrease of about 6.1%[42] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥5,462,020,432.26, reflecting a 37.39% increase from the end of the previous year[10] - Total liabilities as of September 30, 2022, amounted to approximately $1.72 billion, up from $1.23 billion, which is an increase of 39.8%[34] - The company's total assets reached approximately $5.46 billion, compared to $3.98 billion at the end of 2021, representing a growth of 37.4%[34] - The company's equity attributable to shareholders increased to approximately $3.70 billion from $2.79 billion, reflecting a growth of 32.6%[34] Cash Flow and Investments - Cash flow from operating activities for the year-to-date was ¥835,157,896.66, an increase of 36.22% compared to the same period last year[7] - The company reported a significant increase in cash flow from operating activities, totaling ¥835,157,896.66 compared to ¥613,106,765.33 in the previous year, an increase of about 36.3%[48] - Cash received from sales of goods and services amounted to ¥2,548,644,956.26, compared to ¥1,555,278,830.89 in the previous year, representing an increase of approximately 63.9%[48] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets amounted to approximately $556.72 million, an increase from $378.49 million[50] - Net cash outflow from investment activities was approximately -$578.23 million, compared to -$375.20 million in the previous period[50] - Cash inflow from financing activities totaled approximately $357.47 million, up from $156.68 million[50] - The net increase in cash and cash equivalents was approximately $139.66 million, contrasting with a decrease of -$115.37 million in the previous period[50] - The ending balance of cash and cash equivalents reached approximately $183.10 million, significantly higher than $43.66 million at the end of the previous period[50] Shareholder Information - The total number of common shareholders at the end of the reporting period is 123,454[17] - The largest shareholder, Xinjiang Tacheng International Resources Co., Ltd., holds 180,842,552 shares, accounting for 19.78% of the total[17] - The top ten shareholders include several investment funds, with the second-largest shareholder holding 44,864,380 shares, representing 4.91%[17] Production and Operations - The company completed 52.07% of its annual production plan with a total output of 2.0826 million tons[21] - The processing volume of ore reached 2.1115 million tons, completing 52.79% of the annual plan[21] - The production of concentrate products containing metal amounted to 84,400 tons, achieving 49.46% of the annual target[21] - The company faced significant production challenges due to prolonged pandemic effects and geopolitical tensions[23] - The company plans to concentrate resources in Q4 to address production bottlenecks and maximize processing capacity[23] Projects and Developments - The lithium extraction project in Argentina has made progress, with equipment for the first phase of 10,000 tons/year shipped and arrived at the Chilean port[24] - Environmental impact assessments for lithium projects have been submitted to local authorities, with previous approvals for 2,500 tons/year capacity obtained[24] Financial Guarantees and Loans - The company provided a guarantee for a $120 million prepayment financing to its subsidiary, which has been fully received[25] - The company plans to provide a general liability guarantee for a contract amounting to approximately $27.27 million for its subsidiary's lithium extraction project, pending shareholder approval[25] - The company secured a renewal of a $15 million working capital loan from Jiangsu Bank, with a collateral guarantee based on its 30% equity stake in a subsidiary[25] Other Financial Metrics - The basic earnings per share for Q3 2022 was ¥0.1116, a decrease of 49.35% year-on-year[10] - Basic earnings per share for the first three quarters of 2022 were ¥0.6004, down from ¥0.6771 in the same period of 2021, indicating a decrease of approximately 11.2%[43] - The company experienced a net investment loss of ¥60,281,555.88, compared to a loss of ¥4,169,241.35 in the previous year, indicating a worsening of investment performance[39] - Other comprehensive income after tax for the first three quarters of 2022 was ¥410,833,009.75, a significant improvement from a loss of ¥19,012,522.89 in the same period of 2021[42] - The company reported a financial expense of -¥188,252,931.47, a significant change from a financial income of ¥16,178,483.07 in the previous year, indicating a shift in financial performance[39] Accounting Standards - The company has not adopted new accounting standards or interpretations affecting the financial statements for the year[50]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,026,753,710, representing a 3.32% increase compared to CNY 993,756,419.92 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was CNY 446,840,605.87, up 7.02% from CNY 417,533,532.45 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was CNY 527,111,544.26, which is a 24.53% increase from CNY 423,282,546.55 year-on-year[25]. - Basic earnings per share for the first half of 2022 were CNY 0.4888, a 7.02% increase from CNY 0.4567 in the same period last year[25]. - The company reported a net profit attributable to shareholders for the first half of 2022, showing a year-on-year growth of 7.02%[38]. - The company reported a net loss of 29,285,226.02 RMB during the current period[151]. - The net profit for the first half of 2022 was ¥105,937,953.18, compared to ¥207,412,968.36 in the first half of 2021, indicating a decrease of about 48.1%[129]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 14.72% to CNY 359,732,237.60 from CNY 421,804,921.83 in the same period last year[25]. - Cash and cash equivalents decreased by 49.38% to ¥52,861,730.09, primarily due to increased payments for goods and repayment of due debts[49]. - The cash and cash equivalents at the end of the period were ¥18,190,330.09, down from ¥45,313,356.76 at the end of the first half of 2021, reflecting a decrease of about 59.9%[137]. - The net cash flow from operating activities was negative at CNY -51,844,779.42, an improvement from CNY -58,496,058.23 in the previous year[139]. - The total cash and cash equivalents at the end of the period amounted to CNY 1,400,614.71, compared to CNY 3,578,818.19 at the end of the previous year[141]. Assets and Liabilities - The net assets attributable to shareholders of the listed company increased by 25.83% to CNY 3,507,193,192.56 compared to CNY 2,787,160,637.44 at the end of the previous year[25]. - Total assets rose by 22.15% to CNY 4,855,797,398.99 from CNY 3,975,433,848.16 at the end of the previous year[25]. - Total liabilities reached approximately 1.30 billion, up from 1.23 billion, showing a growth of about 5.3% year-over-year[109]. - The company's equity attributable to shareholders increased to approximately 3.51 billion from 2.79 billion, reflecting a growth of about 25.9% year-over-year[109]. - The total current assets increased to 626,283,770.83 RMB from 513,469,051.58 RMB, reflecting a growth of approximately 21.9%[104]. - Non-current assets totaled approximately 4.23 billion, an increase from 3.46 billion, reflecting a growth of about 22.2% year-over-year[106]. Operational Highlights - The company operates primarily in the non-ferrous metal mining sector, with a focus on lead-zinc polymetallic mining in Tajikistan, holding 84.6 million tons of lead, zinc, copper, and silver resources as of the end of 2021[32]. - The company’s mining capacity is currently 4 million tons per year, with a design capacity for lead smelting of 50,000 tons[32]. - The company achieved a mining volume of 1.444 million tons in the first half of 2022, representing 32.36% of the annual plan, an increase of 25.77% year-on-year[40]. - The company resumed production at its crude lead smelting plant, producing 2,328 tons of crude lead in the first half of 2022[42]. Market and Product Development - The average prices for the company's main mineral products increased significantly in 2022 compared to 2021, with zinc up 27.43%, lead up 2.83%, copper up 4.76%, and silver down 7.22%[32]. - The average price of lithium carbonate in the first half of 2022 surged by 268.31% compared to the average price in 2021, driven by strong demand from the battery sector[32]. - The company is developing a lithium salt project in Argentina, with a resource reserve of 2.049 million tons of lithium carbonate equivalent, and plans to build an annual production capacity of 50,000 tons of lithium salt[32]. - The company is actively pursuing resource expansion and integration through mergers and acquisitions in the lithium sector, reflecting a consensus within the industry[32]. Management and Governance - The company appointed new senior management, including three vice presidents and a chief engineer, effective June 18, 2022[63]. - The company has implemented a long-term employee stock ownership plan, with 16 participants contributing a total of RMB 22.5 million, matched by the company for a total of RMB 45 million[67]. - The company has not disclosed any changes in the controlling shareholder or actual controller during the reporting period[98]. Risks and Challenges - The report includes a risk statement indicating potential operational risks that the company may face[7]. - The company faces risks related to market price fluctuations, foreign exchange rate volatility, and international project investments[57]. Financial Management - Operating costs rose by 21.22% to RMB 334.88 million, primarily due to the reclassification of sales freight from sales expenses to operating costs[46]. - Management expenses increased by 68.78% year-on-year, amounting to an increase of 41.36 million yuan, primarily due to rising wage costs[38]. - The company maintains a cost control strategy that has resulted in a favorable overall gross margin, essential for surviving the cyclical nature of the non-ferrous metal industry[39].

Financial Performance - The company's operating revenue for 2021 was CNY 2,048,629,105.39, representing an increase of 80.88% compared to CNY 1,132,618,199.85 in 2020[22]. - Net profit attributable to shareholders for 2021 reached CNY 720,445,496.21, a significant increase of 2,255.61% from CNY 30,584,296.74 in 2020[22]. - The net cash flow from operating activities for 2021 was CNY 829,183,442.31, up 126.11% from CNY 366,711,465.13 in 2020[22]. - The company's total assets as of the end of 2021 were CNY 3,975,433,848.16, reflecting a 5.22% increase from CNY 3,778,381,196.07 at the end of 2020[22]. - Basic earnings per share for 2021 were CNY 0.7881, a dramatic increase of 2,252.54% compared to CNY 0.0335 in 2020[22]. - The weighted average return on equity for 2021 was 30.12%, up 28.83 percentage points from 1.29% in 2020[22]. - The company reported a net profit of CNY 101,478,351.35 in Q4 2021, with total revenue for the quarter at CNY 548,460,421.46[25]. - Non-recurring gains and losses for 2021 totaled CNY -49,687,265.35, with significant impacts from various non-operating items[26]. - The company achieved a net profit of CNY 770,132,761.56 after deducting non-recurring gains and losses, marking a 9,202.55% increase from CNY 8,278,730.28 in 2020[22]. - The company reported a net profit increase of 2255.61% for the year 2021, driven by rising prices of lead, zinc, and copper, which increased by 27%, 20.1%, and 24% respectively compared to 2020[38]. Operational Developments - The company is actively developing new lithium projects in Argentina through its subsidiaries, aiming to enhance resource extraction capabilities[14]. - The company is developing a lithium salt production project in Argentina with a resource reserve of 2.049 million tons of lithium carbonate equivalent, aiming for an annual production capacity of 50,000 tons[33]. - The company has signed formal contracts with partners for the Angeles lithium project, which is expected to be operational by the end of 2022[37]. - The company has a resource reserve of 84.6 million tons of lead, zinc, copper, and silver at its mining operations in Tajikistan, with an annual processing capacity of 4 million tons[33]. - The company aims to reach an annual lithium carbonate equivalent production capacity of 150,000 tons by 2025 in Argentina[47]. - The mining capacity in Tajikistan is targeted to increase from 1.5 million tons to 4 million tons annually by 2025[47]. - The company plans to raise 800 million yuan through a private placement to fund the lithium project in Argentina and the expansion of the Tajikistan mining operations[47]. - The company has completed a mining volume of 2.6521 million tons and a mineral output of 2.6644 million tons in the reporting period, with a processing capacity of 2.8493 million tons[43]. - The production of lead concentrate was 79,500 tons, zinc concentrate was 139,700 tons, and copper concentrate was 7,100 tons, resulting in metal outputs of 48,100 tons of lead, 70,600 tons of zinc, 1,800 tons of copper, and 988 tons of silver[43]. Market and Industry Trends - The average price of lithium carbonate increased by 175.7% in 2021, reflecting strong demand from the battery sector and supply chain disruptions[33]. - The global zinc supply was short by approximately 192,000 tons in 2021, contributing to a significant increase in zinc prices[39]. - The demand for silver is expected to rise due to the growth in photovoltaic and new energy vehicle sectors, despite a potential decrease in silver usage per unit due to technological advancements[42]. - The company’s lead, zinc, and copper products are essential in sectors such as battery manufacturing, construction, and electronics, highlighting their industrial significance[42]. Governance and Compliance - The company has committed to maintaining the accuracy and completeness of its financial reports, as stated by its management[4]. - The company has established a supervisory board with 3 members to oversee compliance and protect shareholder interests[97]. - The company has revised 14 management systems to comply with regulatory requirements, ensuring effective governance and management[100]. - The company maintains a strict adherence to information disclosure regulations, ensuring transparency and protecting shareholder rights[97]. - The company has implemented measures to enhance pandemic response capabilities, ensuring employee safety and minimizing operational disruptions[94]. Shareholder and Financial Policies - The company reported a profit distribution plan suggesting no cash dividends or stock bonuses for the current period[7]. - The company aims for a cash dividend policy that ensures at least 30% of the average distributable profit over the last three years is distributed as cash dividends, subject to financial conditions[148]. - The company distributed cash dividends of ¥3 per 10 shares during the reporting period[54]. - The company has faced regulatory scrutiny from the Shanghai Stock Exchange regarding its profit distribution plan, which proposed a cash dividend of 3 yuan per 10 shares based on a total share capital of 914,210,168 shares[126]. Strategic Initiatives - The company has established a comprehensive management mechanism that emphasizes both internationalization and commercialization[47]. - The strategic plan "One Body, Two Domains" aims to enhance control over non-ferrous metal resources and establish a competitive position in the industry by 2025[47]. - The company is focused on developing a collaborative ecosystem with complementary advantages among enterprises in surrounding countries[47]. - The company plans to continue expanding its market presence and enhancing its product offerings through ongoing research and development efforts[145]. Human Resources and Talent Development - The company has successfully recruited a significant number of professional talents to support its future development[47]. - The company emphasizes the importance of local talent development and has established partnerships with local educational institutions to support this goal[147]. - The company has a competitive compensation policy that links employee performance to overall company performance, ensuring fairness and attracting talent[146]. - The training program includes systematic training in safety awareness, job skills, and internal talent development, with a focus on continuous improvement[147].

Financial Performance - The company's operating revenue for Q1 2022 was ¥520,959,160.85, representing a year-on-year increase of 10.62%[6] - The net profit attributable to shareholders for Q1 2022 was ¥81,488,771.20, showing a significant decrease of 60.06% compared to the same period last year[6] - Basic and diluted earnings per share for Q1 2022 were both ¥0.0891, down 60.06% year-on-year[9] - The company's net profit from main business operations experienced a year-on-year and quarter-on-quarter increase, but overall profit decreased by over 50% due to non-recurring factors, including a 13.19% depreciation of the Somoni and an increase in tax payments by 48.77 million RMB due to new tax laws in Tajikistan[21] - Net profit for Q1 2022 was 75,629,415.11 RMB, a decrease from 204,025,670.93 RMB in Q1 2021, reflecting a decline of approximately 63.0%[33] - The total comprehensive income attributable to the parent company was -124,876,357.05, while it was 211,377,325.85 in the prior period[36] Cash Flow - The net cash flow from operating activities increased by 63.75% to ¥289,169,853.54 in Q1 2022[6] - Cash inflows from operating activities totaled 704,091,876.92, an increase from 535,134,484.07 year-over-year[40] - Cash outflows from operating activities amounted to 414,922,023.38, compared to 358,545,883.35 in the same period last year[40] - The net cash flow from operating activities was 289,169,853.54, up from 176,588,600.72 in the previous year[40] - Cash inflows from financing activities were 37,797,182.90, compared to 23,619,168.70 in the prior year[42] - Cash outflows from financing activities totaled 133,911,940.44, down from 217,929,489.81 year-over-year[42] - The net increase in cash and cash equivalents was 121,783,573.86, compared to a decrease of 71,835,092.37 in the previous year[42] - The ending balance of cash and cash equivalents was 165,214,265.59, compared to 87,193,506.28 in the same period last year[42] Assets and Liabilities - Total assets at the end of Q1 2022 amounted to ¥4,022,343,636.22, reflecting a slight increase of 1.18% from the end of the previous year[9] - Total liabilities for Q1 2022 were 1,402,724,913.46 RMB, an increase from 1,233,388,688.37 RMB in Q1 2021, representing a growth of approximately 13.7%[30] - Current liabilities increased to 1,388,260,554.46 RMB in Q1 2022 from 1,217,378,477.37 RMB in Q1 2021, marking an increase of approximately 14.0%[30] - Non-current assets totaled 3,277,125,125.20 RMB in Q1 2022, down from 3,461,964,796.58 RMB in Q1 2021, indicating a decrease of about 5.3%[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 144,403[13] - The equity attributable to shareholders decreased by 4.70% to ¥2,656,160,739.18 compared to the end of the previous year[9] - The company's equity attributable to shareholders decreased to 2,656,160,739.18 RMB in Q1 2022 from 2,787,160,637.44 RMB in Q1 2021, reflecting a decline of about 4.7%[30] Inventory and Receivables - Cash and cash equivalents increased by 99.58%, primarily due to an increase in advance receipts[12] - Accounts receivable rose by 103.92%, mainly due to the collection of customer payments at the beginning of the next month[12] - Prepayments surged by 222.92%, attributed to advance payments for the Argentina project[12] - The company's inventory decreased slightly to 122,960,957.00 RMB from 127,819,566.88 RMB, showing a reduction of about 3.4%[24] - Accounts receivable increased to 112,107,239.71 RMB from 54,976,851.59 RMB, reflecting a growth of approximately 103.5%[24] Investments and Projects - The company signed contracts with multiple domestic lithium extraction technology and equipment suppliers, indicating progress in the lithium development project in Argentina[21] - The company is currently advancing its employee stock ownership plan, which was approved in January 2022, and is in the process of organizing materials for a non-public offering of A-shares[21] Fixed and Non-Current Assets - The company's fixed assets were valued at 1,746,506,588.13 RMB, down from 1,954,334,511.24 RMB, indicating a decrease of approximately 10.6%[24] - The company reported an increase in other non-current financial assets to 22,009,628.62 RMB from 21,660,757.24 RMB, reflecting a growth of about 1.6%[24] - The company’s long-term equity investments remained stable at 922,481.37 RMB, showing a slight decrease from 923,674.27 RMB[24] Financial Expenses - The company reported financial expenses of 101,747,160.37 RMB in Q1 2022, compared to a financial income of -8,272,520.25 RMB in Q1 2021, indicating a significant shift in financial performance[33]

Financial Performance - The company's operating revenue for 2021 was CNY 2,048,629,105.39, representing an increase of 80.88% compared to CNY 1,132,618,199.85 in 2020[22]. - Net profit attributable to shareholders for 2021 reached CNY 720,445,496.21, a significant increase of 2,255.61% from CNY 30,584,296.74 in 2020[22]. - The net cash flow from operating activities for 2021 was CNY 829,183,442.31, up 126.11% from CNY 366,711,465.13 in 2020[22]. - The company's total assets as of the end of 2021 were CNY 3,975,433,848.16, reflecting a 5.22% increase from CNY 3,778,381,196.07 at the end of 2020[22]. - Basic earnings per share for 2021 were CNY 0.7881, a dramatic increase of 2,252.54% compared to CNY 0.0335 in 2020[22]. - The weighted average return on equity for 2021 was 30.12%, up 28.83 percentage points from 1.29% in 2020[22]. - The company reported a net profit of CNY 101,478,351.35 in Q4 2021, with total revenue for the quarter at CNY 548,460,421.46[25]. - In 2021, the company achieved a revenue of 2.049 billion CNY, representing an 81% year-over-year increase, and a net profit of 720 million CNY, reflecting a 2255% increase compared to the previous year[47]. Operational Highlights - The company has a wholly-owned subsidiary in Tajikistan, which is involved in mining operations[14]. - The company is developing lithium salt lake projects in Argentina through its subsidiaries[14]. - The company’s subsidiary, Tajik Mining Co., has a mining capacity of 4 million tons per year and holds lead, zinc, copper, and silver resources totaling 84.6 million tons[33]. - The company completed a mining volume of 2.6644 million tons and a processing volume of 2.8493 million tons, with a year-over-year increase of 67% and 59% respectively[42]. - The production of lead concentrate was 79,500 tons, zinc concentrate was 139,700 tons, and copper concentrate was 7,100 tons, with total metal production of 120,000 tons, marking a 48% increase year-over-year[47]. - The company plans to raise 8 billion CNY through a private placement to invest in lithium projects in Argentina and expand mining capacity in Tajikistan to 6 million tons annually by 2025[47]. - The company has fully restored production levels to pre-pandemic standards in 2021, ranking second in industrial output in Tajikistan[50]. Risk Management - The company is facing operational risks as detailed in the management discussion and analysis section of the report[8]. - The company emphasizes the importance of investor awareness regarding risks associated with forward-looking statements[7]. - The company is exposed to foreign exchange risks due to operations in multiple currencies, including USD, TJS, ARS, HKD, and CAD, and will adopt a robust currency asset structure to manage these risks[94]. - The company plans to mitigate market risks through pricing strategies and financial instruments like futures hedging, while also focusing on technology upgrades to maintain stable production and reduce costs[91]. Governance and Compliance - The company received a standard unqualified audit report from Zhonghua Certified Public Accountants[6]. - The company’s financial report is guaranteed to be true, accurate, and complete by its responsible personnel[6]. - The company has not faced significant governance discrepancies with regulatory requirements, maintaining independence from its controlling shareholder[101]. - The company has committed to improving compliance with disclosure obligations and ensuring timely and accurate information dissemination[129]. - The company has acknowledged the need for better risk disclosure related to dividend distribution to protect investor interests[129]. Social Responsibility - The company has contributed 20 million somoni to build a kindergarten in Tajikistan, accommodating 360 preschool children, as part of its social responsibility initiatives[52]. - The company donated 10 vehicles to the Tajik government for the 30th anniversary of independence celebrations, marking its commitment to regional cooperation[52]. - A framework agreement was signed to establish a vocational training center in Tajikistan, aimed at enhancing local workforce skills and employment competitiveness[52]. Future Outlook - The company aims to position itself as a global upstream supplier of energy metal resources with a market value target of 100 billion CNY by 2025[47]. - The company plans to expand its annual production capacity from 4 million tons to 6 million tons by 2025, aiming for a net profit of 2 billion RMB[50]. - The company expects to produce 30,000 to 40,000 tons of lithium salt products in 2023, with a favorable market outlook for lithium carbonate prices[50]. - The company plans to implement a new marketing strategy focusing on digital channels, aiming for a 15% increase in customer engagement[118]. Board and Management - The company completed the election of its eighth board of directors and supervisory board on May 28, enhancing governance structure[95]. - The board consists of 7 members, including 4 directors and 3 independent directors, with diverse expertise in mining, finance, and sustainable development[100]. - The company has established 5 specialized committees under the board to enhance decision-making and oversight[100]. - The company has appointed a new board of directors, with key members having extensive experience in the mining and resource sectors[113]. Shareholder Information - The company reported a total of 286,842,552 shares held by Xinjiang Tacheng International Resources Co., Ltd., representing 31.38% of the total shares[198]. - The total number of ordinary shareholders at the end of the reporting period is 123,735, down from 144,403 in the previous month[195]. - The top five customers accounted for 99.92% of total sales, indicating a high dependency on a limited customer base[66].