Financial Performance - The company's operating revenue for Q1 2022 was RMB 4,340,373,220.19, representing an increase of 84.57% compared to the same period last year[2]. - The net profit attributable to shareholders of the listed company reached RMB 712,596,796.48, up 129.37% year-on-year[2]. - Basic earnings per share were RMB 0.4065, reflecting a growth of 126.84% year-on-year[2]. - Operating profit for Q1 2022 was ¥853,078,016.10, up from ¥376,090,122.60 in Q1 2021, reflecting a growth of 126.5%[15]. - The company reported a total comprehensive income of ¥972,928,877.57 for Q1 2022, compared to ¥311,944,565.05 in Q1 2021, reflecting a substantial increase of 211.5%[15]. - Total comprehensive income for the first quarter of 2022 reached CNY 1,693,622,451.47, a significant increase from CNY 632,605,007.77 in the same period of 2021, representing a growth of approximately 168%[16]. Cash Flow - The net cash flow from operating activities was RMB 1,178,518,647.69, showing a significant increase of 520.42% compared to the previous year[2]. - Cash inflow from operating activities totaled CNY 4,719,843,293.92, up from CNY 2,440,649,391.22 in the previous year, indicating a growth of approximately 93%[17]. - Net cash flow from operating activities was CNY 1,178,518,647.69, a turnaround from a negative cash flow of CNY -280,322,441.33 in the first quarter of 2021[18]. - Cash and cash equivalents at the end of the first quarter of 2022 amounted to CNY 3,089,765,200.38, compared to CNY 866,939,175.37 at the end of the first quarter of 2021, marking an increase of about 256%[19]. - The company reported a net increase in cash and cash equivalents of CNY 1,207,697,868.72 for the first quarter of 2022, compared to CNY 354,257,357.24 in the same period of 2021, representing a growth of approximately 241%[19]. Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 17,350,793,480.90, an increase of 14.54% from the end of the previous year[3]. - The total liabilities increased to CNY 10.07 billion, compared to CNY 8.16 billion in the previous year, indicating a growth of about 23.4%[11]. - Total liabilities as of Q1 2022 amounted to ¥5,660,639,880.39, an increase from ¥5,152,442,736.90 in Q1 2021, representing a growth of 9.8%[12]. - The company’s total current assets reached CNY 10.07 billion, compared to CNY 9.16 billion, representing an increase of approximately 9.9%[11]. - Cash and cash equivalents reached CNY 3.46 billion, compared to CNY 2.25 billion in the previous year, indicating a year-over-year increase of about 54%[10]. Equity and Investments - The equity attributable to shareholders of the listed company was RMB 10,911,562,765.03, which is a 16.55% increase compared to the previous year[3]. - The company’s long-term equity investments increased to CNY 419.31 million, up from CNY 397.82 million, reflecting a growth of about 5.4%[11]. - The company reported a significant increase in other equity instrument investments, rising to CNY 5.24 billion from CNY 4.09 billion, an increase of approximately 27.9%[11]. - Total equity attributable to shareholders of the parent company reached ¥10,911,562,765.03 in Q1 2022, up from ¥9,361,844,395.92 in Q1 2021, indicating a growth of 16.5%[12]. Operational Efficiency - The increase in operating revenue and net profit was primarily driven by rising rare earth prices and improved gross margins[6]. - The company reported a decrease in accounts receivable and an increase in advance payments, contributing to the significant rise in cash flow from operations[6]. - Research and development expenses in Q1 2022 totaled ¥205,410,169.60, which is a 125.5% increase from ¥91,363,837.19 in Q1 2021[14]. - The total cost of operations for Q1 2022 was ¥3,455,708,859.75, which is an increase of 75.7% from ¥1,967,388,962.42 in Q1 2021[14]. Shareholder Actions - The company completed the cancellation of 2,340,497 repurchased shares on April 19, 2022, as part of a capital reduction plan approved by the board[9]. - Short-term borrowings decreased to CNY 1.65 billion from CNY 1.74 billion, a reduction of approximately 5.5%[11].

Financial Performance - The company's operating revenue for 2021 was CNY 10,616,349,147.76, representing a 30.15% increase compared to CNY 8,157,251,595.28 in 2020[14]. - The net profit attributable to shareholders for 2021 was CNY 1,076,048,439.81, a significant increase of 232.82% from CNY 323,312,794.72 in 2020[14]. - The net profit after deducting non-recurring gains and losses reached CNY 1,022,088,696.10, up 1,326.07% from CNY 71,671,464.81 in 2020[14]. - The net cash flow from operating activities was CNY 964,041,001.21, an increase of 189.74% compared to CNY 332,725,932.40 in 2020[14]. - The basic earnings per share for 2021 was CNY 0.6139, a 232.74% increase from CNY 0.1845 in 2020[15]. - The weighted average return on equity for 2021 was 13.34%, up 7.40 percentage points from 5.94% in 2020[15]. - Total assets at the end of 2021 were CNY 15,147,806,685.70, a 25.12% increase from CNY 12,106,339,468.78 at the end of 2020[14]. - The net assets attributable to shareholders at the end of 2021 were CNY 9,361,844,395.92, reflecting a 23.71% increase from CNY 7,567,353,351.18 at the end of 2020[14]. - The total liabilities at the end of 2021 were CNY 5,152,442,736.90, a 25.76% increase from CNY 4,097,134,688.76 at the end of 2020[14]. Dividends and Capital Plans - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares to all shareholders, subject to approval at the shareholders' meeting[3]. - The company does not plan to increase capital through the conversion of capital reserves this year[3]. - The company has not proposed any capital reserve fund transfer to increase share capital for the current year[114]. Audit and Governance - The company has received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm[2]. - The company emphasizes the importance of the accuracy and completeness of the annual report, with key management personnel confirming its integrity[2]. - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, enhancing internal control and risk management[79]. - The company has committed to improving governance and operational transparency, adhering to regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange[79]. - The company has identified issues during its self-inspection of corporate governance and has implemented corrective measures, including addressing potential competition with a major shareholder[121]. Environmental Compliance - The company is committed to environmental protection and has implemented necessary facilities to comply with national regulations, ensuring no significant pollution incidents[73]. - The company has a pollution discharge permit valid until September 4, 2023, with specific emission standards for major pollutants[124]. - The company reported a total annual emission of 22.5 tons of SO2, 33.79 tons of NOX, and 2.25 tons of particulate matter[125]. - The company has no instances of exceeding pollution discharge limits and has not received any environmental penalties[138]. - The company has implemented regular inspections and monitoring of its facilities to prevent leaks and spills[133]. Research and Development - Research and development expenses rose to CNY 378,278,311.37, an increase of 46.45% year-on-year, indicating a focus on innovation[40]. - The company invested 2,672 million RMB in establishing Sichuan Shengtong Rare Earth By-product Disposal Co., Ltd. to address waste disposal issues[30]. - The company is investing 50 million in R&D for new technologies aimed at sustainable mining practices[87]. - Research and development investments have increased by 30%, focusing on advanced material technologies[91]. Market Expansion and Strategy - The company is focusing on expanding its raw material supply channels and has deepened cooperation with partners, including renewing agreements with MP Company in the U.S.[29]. - The company is actively involved in the construction of a new rare earth smelting and separation production base in Lianyungang, Jiangsu[34]. - The company plans to achieve annual revenue exceeding 10 billion yuan in 2022, with significant profit growth compared to 2021[71]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[87]. Related Party Transactions - The company has established ongoing procurement relationships with multiple related parties, including Sichuan Rare Earth Co., Ltd. and Fujian Wensheng[175]. - The total amount of related party transactions reached ¥281,700,528.75, with the largest transaction being the purchase of goods from Guangxi Yuxiao Xijun Rare Earth Functional Materials Co., Ltd. amounting to ¥121,948,794.42, accounting for 1.408% of similar transaction amounts[177]. - The company has provided guarantees totaling ¥2,053,400,000.00, which represents 20.54% of the company's net assets[181]. Management and Personnel - The company has a total of 10 independent directors, with each receiving a pre-tax remuneration of 7.2 million yuan during the reporting period[83]. - The total number of employees in the company and its main subsidiaries is 1,631, with 1,109 in production, 49 in sales, 233 in technology, 45 in finance, and 195 in administration[110]. - The company emphasizes employee training to enhance overall quality and competitiveness, including regular internal training and external training programs[112]. Legal and Compliance - The company has not faced any delisting risk or bankruptcy reorganization issues during the reporting period[169]. - The company has not reported any changes or progress in previously disclosed asset or equity acquisitions[178]. - The company has not engaged in any cash asset management or entrusted loan activities during the reporting period[183].

证券代码：600392 证券简称：盛和资源 公告编号：临 2022-023 盛和资源控股股份有限公司 关于接待投资者调研情况的公告 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、完整性承担个别及连带责任。 一、投资者调研情况 盛和资源控股股份有限公司（以下简称"盛和资源"或"公司"）于近期和 市场投资者进行了电话调研交流活动，公司董事会秘书郭晓雷先生积极参与了本 次投资者调研会议并对投资者提出的问题进行了回复。 二、调研主要问题及回复情况 问题 1：公司今年经营规划情况？对稀土产品市场价格波动的看法？ 回复：公司于 2021 年初披露了《2021-2022 年经营发展规划》，公司目前 在按照这个经营规划目标组织生产经营。 受新能源汽车、风电、节能环保等下游产业快速发展影响，稀土主要产品市 场需求整体向好，行业的集中度也相对较高，有利于促进稀土行业的健康发展。 工信部 3 月初约谈了重点稀土企业，盛和资源是被约谈的三家企业之一。从通报 的约谈内容来看，工信部希望稀土主要产品价格能够保持理性，不要出现大幅波 动，确保产业链供应链的安全稳定，促进稀土产 ...

2021 年第三季度报告 单位：元 币种：人民币 1 / 12 证券代码：600392 证券简称：盛和资源 盛和资源控股股份有限公司 2021 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | |------------------------------------------------|------------------|---------------------------------------|------------------|------------------- ...

2021 年半年度报告 公司代码：600392 公司简称：盛和资源 盛和资源控股股份有限公司 2021 年半年度报告 1 / 172 2021 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人胡泽松、主管会计工作负责人夏兰田及会计机构负责人（会计主管人员）李抗声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述存在的风险，敬请查阅第三节管理 ...

Financial Performance - In 2020, the company's operating revenue reached ¥8,157,251,595.28, an increase of 17.21% compared to ¥6,959,518,488.42 in 2019[15]. - The net profit attributable to shareholders was ¥323,312,794.72, representing a significant increase of 218.44% from ¥101,531,719.79 in the previous year[15]. - The basic earnings per share for 2020 was ¥0.1845, up 218.65% from ¥0.0579 in 2019[16]. - The weighted average return on equity increased to 5.94% in 2020, up 4 percentage points from 1.94% in 2019[16]. - The company's net cash flow from operating activities was ¥332,725,932.40, a decrease of 48.57% compared to ¥646,944,068.89 in 2019[15]. - The total assets at the end of 2020 were ¥12,106,339,468.78, an increase of 28.12% from ¥9,449,491,978.89 at the end of 2019[15]. - The net assets attributable to shareholders increased by 43.37% to ¥7,567,353,351.18 at the end of 2020, compared to ¥5,278,090,726.83 at the end of 2019[15]. - The company reported non-recurring gains and losses totaling ¥251,641,329.91 in 2020, compared to ¥50,416,980.52 in 2019[19]. Dividend Policy - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders, excluding 2,340,497 shares held in the repurchase account[4]. - The proposed cash dividend for 2020 is RMB 0.50 per 10 shares (including tax), totaling RMB 87,641,328.50 (including tax), which represents 27.11% of the net profit attributable to ordinary shareholders in the consolidated financial statements[82]. - The company will not distribute cash dividends for the year 2020 due to significant funding needs for new and technical transformation projects[81]. - The company has not made any adjustments to its profit distribution policy during the reporting period, adhering to its shareholder return plan[80]. - The company's undistributed profits as of December 31, 2020, amounted to -RMB 23,356,318.78[81]. Audit and Compliance - The company has received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm[3]. - The board of directors has ensured the accuracy and completeness of the annual report[2]. - The company has confirmed that all directors attended the board meeting[3]. - The company has not faced any issues with more than half of the directors being unable to guarantee the authenticity of the annual report[6]. - The internal control audit report issued by the accounting firm was a standard unqualified opinion, indicating no significant deficiencies in internal controls[192]. Business Operations and Strategy - The company has established a complete industrial chain in the rare earth business, covering mining, smelting, and deep processing[21]. - The company has a dual layout in both domestic and international markets for its rare earth and zirconium-titanium businesses[21]. - The company is constructing a new rare earth smelting and separation production base in Lianyungang, Jiangsu Province, while maintaining existing bases in Sichuan and Jiangxi[22]. - The company has established a diversified raw material supply channel for rare earths, including managing the Dechang Daluo rare earth mine and sales from the Mountain Pass rare earth mine in the U.S.[27]. - The company is actively expanding its zircon-titanium business with a new mineral processing base under construction in Lianyungang, Jiangsu Province[23]. - The company has formed a complete industrial chain from rare earth mining to deep processing, positioning itself among the industry leaders in China[28]. - The company emphasizes continuous innovation in processing technology, having received provincial-level awards for its unique production methods[29]. Market and Revenue Growth - Domestic revenue accounted for CNY 7,293,593,087.86, with a year-on-year increase of 11.63%[40]. - The international revenue reached CNY 391,504,535.07, with a year-on-year increase of 16.63%[40]. - The company plans to achieve an annual revenue target of ¥9 billion in 2021, with significant profit growth expected compared to 2020[70]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $30 million earmarked for potential targets[164]. Environmental and Social Responsibility - The company has committed to pollution prevention and has established necessary environmental protection facilities to comply with national regulations[74]. - The company reported no instances of exceeding pollution discharge limits for waste gas, wastewater, noise, and solid hazardous waste in 2020[125]. - The company donated RMB 220,000 to support COVID-19 prevention efforts and contributed RMB 40,000 to a special education school in Leshan[117]. - The total investment in poverty alleviation funds amounted to RMB 23.06 million, with RMB 10,000 allocated to improving educational resources in impoverished areas[119]. - The company plans to continue its poverty alleviation efforts in accordance with national policies[120]. Governance and Management - The company has established a comprehensive governance structure to protect the rights of all shareholders, particularly minority shareholders[121]. - The company emphasizes the importance of performance-based remuneration linked to job contributions[180]. - The board of directors has established a salary management system linked to performance, with annual salaries composed of base and performance pay[191]. - The company actively promotes compliance with governance regulations, enhancing internal control and governance structures[183]. - The company’s independent directors attended all board meetings, demonstrating active participation in governance[184]. Legal Matters - The company faced significant litigation involving a total amount of RMB 2,008,165.92 related to a worker's compensation case[93]. - The company has a claim of RMB 8,591,525.16 against Henan Luohe Xingmao Titanium Industry, which is currently undergoing bankruptcy proceedings[94]. - The company has initiated legal proceedings against Ningbo Leili for unpaid debts totaling 902.5 million RMB, with a mediation agreement reached for the remaining payments[95]. Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 71,449, a decrease from 154,823 in the previous month[155]. - The largest shareholder, China Geological Survey Institute, held 246,382,218 shares, representing 14.04% of total shares[155]. - The controlling shareholder is the China Geological Survey Institute, which focuses on the comprehensive utilization of mineral resources[157]. - The actual controller of the company is the Ministry of Finance of the People's Republic of China, with no changes during the reporting period[159].

Financial Performance - Net profit attributable to shareholders surged by 2,787.37% to CNY 310,680,527.88 from CNY 10,759,975.70 in the same period last year[4] - Operating revenue rose by 32.30% to CNY 2,351,620,846.99 compared to CNY 1,777,544,063.30 in the previous year[4] - Basic earnings per share reached CNY 0.1792, up 2,837.70% from CNY 0.0061[4] - Net profit surged by 1,693.30% to ¥320,660,442.72, reflecting significant growth in product sales gross margin[7] - Total operating revenue for Q1 2021 was approximately $2.35 billion, a 32.3% increase from $1.78 billion in Q1 2020[15] - Net profit for Q1 2021 reached approximately $320.66 million, compared to $17.88 million in Q1 2020, representing a significant increase[16] - The company reported a total profit of approximately $376.73 million for Q1 2021, compared to $28.70 million in Q1 2020[16] Assets and Liabilities - Total assets increased by 9.81% to CNY 13,294,495,518.39 compared to the end of the previous year[4] - Total assets increased to ¥13,294,495,518.39, up from ¥12,106,339,468.78 at the beginning of the period[11] - Total liabilities rose to ¥885,426,722.23 in Q1 2021, up from ¥799,133,777.38 in Q4 2020, indicating an increase of about 10.4%[14] - Owner's equity totaled ¥5,975,285,339.69 as of March 31, 2021, slightly up from ¥5,971,863,025.37 at the end of 2020, showing a marginal increase of 0.06%[14] Cash Flow - Net cash flow from operating activities was negative at CNY -280,322,441.33, worsening from CNY -133,714,649.44 in the previous year[4] - Cash flow from operating activities showed a net outflow of ¥280,322,441.33, worsened by increased procurement payments due to rising raw material prices[8] - Total cash inflow from operating activities was 2,440,649,391.22 RMB, up from 1,447,032,230.80 RMB in the same period last year, reflecting a growth of approximately 68.6%[21] - Cash outflow from operating activities increased to 2,720,971,832.55 RMB, compared to 1,580,746,880.24 RMB in Q1 2020, representing a rise of about 72.2%[21] - The company reported a net cash flow from investing activities of 36,433,322.62 RMB, a significant improvement from -113,761,824.14 RMB in Q1 2020[21] - Cash inflow from financing activities totaled 1,234,469,943.83 RMB, compared to 492,013,383.85 RMB in the previous year, marking an increase of approximately 150.5%[22] Shareholder Information - The total number of shareholders was 154,823 at the end of the reporting period[6] - The largest shareholder, China Geological Survey Institute, holds 14.04% of the shares[6] Research and Development - Research and development expenses increased by 168.76% to ¥91,363,837.19 as the company intensified its R&D investments[7] - Research and development expenses increased to approximately $91.36 million in Q1 2021, up from $33.99 million in Q1 2020, indicating a focus on innovation[15] Inventory and Accounts Receivable - Accounts receivable increased by 21.01% to ¥2,254,256,977.80 due to expanded sales scale amid favorable rare earth market conditions[7] - Inventory rose by 9.38% to ¥3,024,976,285.42 driven by rising prices of rare earth raw materials[7] - Accounts receivable decreased to ¥12,990,014.41 in Q1 2021 from ¥65,837,909.14 in Q4 2020, a decline of about 80.3%[13] Other Information - The company has not disclosed any new product or technology developments in this report[4] - There are no significant mergers or acquisitions reported during this quarter[4]

Financial Performance - Net profit attributable to shareholders decreased by 42.90% to CNY 257,188,688.25 year-on-year[6] - Operating income for the first nine months was CNY 5,426,542,679.05, reflecting a 1.70% increase compared to the same period last year[6] - Basic earnings per share decreased by 42.88% to CNY 0.1467[6] - The company reported a significant decrease in net profit due to non-recurring losses and reduced operational efficiency[6] - The company reported a net loss of approximately $18.84 million in retained earnings, indicating challenges in profitability[33] Assets and Liabilities - Total assets increased by 7.56% to CNY 9,449,491,978.89 compared to the end of the previous year[6] - Total assets increased to CNY 10,163,403,447.75, up from CNY 9,449,491,978.89, representing a growth of approximately 7.5% year-over-year[17] - Current assets totaled CNY 7,385,672,520.56, compared to CNY 7,153,805,538.01, reflecting an increase of about 3.2%[15] - Non-current assets rose to CNY 2,777,730,927.19 from CNY 2,295,686,440.88, marking a significant increase of approximately 21%[15] - Total liabilities increased significantly, with long-term borrowings decreasing by 76.51% to CNY 35,000,000.00, while current liabilities surged by 355.38% to CNY 148,000,000.00[10] - Total liabilities amounted to CNY 4,428,960,609.32, an increase from CNY 3,970,550,510.14, indicating a growth of around 11.5%[16] - The company has a total of approximately $911.53 thousand in intangible assets, showcasing its investment in non-physical assets[32] Cash Flow - Net cash flow from operating activities dropped significantly by 91.98% to CNY 273,682,494.21[6] - Cash flow from operating activities decreased by 91.98% to CNY 21,948,966.94, primarily due to increased prepayments for rare earth concentrates[11] - The net cash flow from financing activities improved by 107.56% to CNY 22,275,878.32, indicating a significant reduction in net repayment of external financing compared to the previous year[11] - The net cash flow from operating activities for Q3 2020 was ¥21,948,966.94, a decrease of 92.0% compared to ¥273,682,494.21 in Q3 2019[26] - The net cash flow from investing activities was -¥25,892,398.26, an improvement from -¥116,563,088.00 in Q3 2019[27] Shareholder Information - The total number of shareholders at the end of the reporting period was 93,768[8] - The largest shareholder, China Geological Survey Institute, holds 14.04% of the shares[8] - Shareholders' equity reached CNY 5,734,442,838.43, up from CNY 5,478,941,468.75, which is an increase of about 4.7%[17] - The total equity attributable to shareholders of the parent company rose to CNY 5,490,867,164.21 from CNY 5,278,090,726.83, an increase of approximately 4%[16] Research and Development - Research and development expenses increased by 41.10% to CNY 163,916,479.96, reflecting higher spending on materials, labor, and energy[11] - Research and development expenses for Q3 2020 amounted to ¥64,864,212.91, a rise of 14.0% compared to ¥56,664,257.76 in Q3 2019[20] Income and Revenue - Non-operating income for the period amounted to CNY 31,732,221.16, with government subsidies contributing CNY 49,055,558.14[7] - Other income surged by 250.20% to CNY 68,670,082.73, attributed to increased government subsidies compared to the same period last year[11] - Investment income rose significantly by 1,168.05% to CNY 57,810,332.31, due to gains from the disposal of subsidiaries[11] - The company reported a significant increase in investment income of ¥56,362,736.65 in Q3 2020, compared to ¥4,280,419.49 in Q3 2019[21] Operational Efficiency - The weighted average return on equity decreased by 2.09 percentage points to 4.83%[6] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20]

2020 年半年度报告 公司代码：600392 公司简称：盛和资源 盛和资源控股股份有限公司 2020 年半年度报告 1 / 176 2020 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 未出席董事职务 未出席董事姓名 未出席董事的原因说明 被委托人姓名 董事 黄平 个人原因 无 三、 本半年度报告未经审计。 四、 公司负责人胡泽松、主管会计工作负责人夏兰田及会计机构负责人（会计主管人员）李抗声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司已在本报告中详细描述存在的风险，敬请查阅第四节经营情况讨论 ...

Financial Performance - The company reported a negative retained earnings of ¥18,844,212.14 as of December 31, 2019, and will not distribute cash dividends or increase capital reserves this year due to significant funding needs for new and upgraded projects in the next twelve months [3]. - In 2019, the company's operating revenue was approximately CNY 6.96 billion, an increase of 11.76% compared to CNY 6.23 billion in 2018 [14]. - The net profit attributable to shareholders was CNY 101.53 million, a decrease of 64.55% from CNY 286.44 million in 2018 [14]. - The basic earnings per share for 2019 was CNY 0.0579, down 64.52% from CNY 0.1632 in 2018 [15]. - The weighted average return on equity decreased to 1.94% in 2019, down 3.67 percentage points from 5.61% in 2018 [15]. - The total assets at the end of 2019 were CNY 9.45 billion, an increase of 7.48% from CNY 8.79 billion at the end of 2018 [14]. - The total liabilities increased by 16.49% to CNY 3.97 billion in 2019, compared to CNY 3.41 billion in 2018 [14]. - The net cash flow from operating activities for 2019 was CNY 646.94 million, a significant increase of 136.14% from CNY 273.97 million in 2018 [14]. - The company reported non-recurring gains of CNY 50.42 million in 2019, compared to CNY 9.19 million in 2018 [17]. - The company experienced a decline in gross margin due to fluctuations in market prices of main products, impacting net profit [15]. Audit and Compliance - The company has received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm, ensuring the accuracy and completeness of the financial report [2]. - The board of directors and senior management have confirmed the authenticity and completeness of the annual report, taking legal responsibility for any misrepresentation or omissions [2]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties, nor any violations in decision-making procedures for external guarantees [5]. - The company has not reported any significant operational changes or new strategies in the current report [5]. - The company has not disclosed any significant changes in its stock structure or shareholder situation in the report [6]. Risk Management - The company has outlined potential risks in its future development strategies, advising investors to be cautious [4]. - The company emphasizes the importance of reviewing the detailed risk descriptions provided in the operational discussion section of the report [5]. - The company faces risks from product price fluctuations, particularly for rare earth concentrates and beach sand minerals, which could significantly impact profitability [75]. - The company is exposed to global economic environment risks, particularly due to ongoing trade tensions between the US and China, which could adversely affect operations [76]. Operational Overview - The company primarily engages in rare earth mining, smelting separation, metal processing, and zircon-titanium mining, with key products including rare earth concentrates, oxides, salts, metals, and catalysts [19]. - The company has established a complete industrial chain for rare earths, from mining to deep processing, and has a dual layout in both domestic and international markets [19]. - The company has a stable supply channel for rare earth concentrates through its management of the Dechang Dalu槽 rare earth mine and partnerships with overseas mines, ensuring raw material security for downstream operations [24]. - The company has patented 180 technologies, including 46 inventions, enhancing the recovery rate and concentrate output through innovative processing techniques [26]. - The global demand for rare earths is expected to grow steadily, supported by applications in new energy, new materials, and various high-tech industries [22]. Revenue and Market Segmentation - Domestic revenue reached approximately ¥6.53 billion, an increase of 10.97% year-over-year, while international revenue was approximately ¥335.68 million, up by 28.96% year-over-year [39]. - The total revenue for the industrial segment was approximately ¥5.23 billion, a decrease of 14.81% year-over-year, with a gross margin of 14.75%, down by 1.70 percentage points [37]. - The total revenue for the commercial segment was approximately ¥1.59 billion, an increase of 1.47% year-over-year, with a gross margin of 10.44%, up by 3.20 percentage points [37]. - The total revenue for the processing services segment was approximately ¥58.77 million, a significant increase of 70.84% year-over-year, with a gross margin of 4.53%, down by 30.71 percentage points [37]. Shareholder Information - The controlling shareholder, a state-owned research institute, holds a 14.04% stake, posing risks to the company's operations and management if faced with hostile takeovers [78]. - The company aims to enhance its governance structure and improve decision-making transparency to protect minority shareholders' rights [79]. - The company has committed to a profit compensation agreement, allowing for the release of shares in three phases based on the achievement of net profit targets over a three-year period [90]. - The first phase of share release allows for 15% of shares to be unlocked after 12 months, with subsequent phases allowing for 25% after 24 months and 60% after 36 months [90]. Environmental and Social Responsibility - The company maintained a strong focus on safety and environmental protection, achieving compliance with all emissions standards during the reporting period [33]. - The company has committed to ongoing social responsibility initiatives, including educational support and disaster relief efforts, contributing RMB 30,000 to the Red Cross for flood relief [124]. - The company has actively participated in poverty alleviation efforts, helping 43 impoverished individuals find employment and contributing a total of RMB 28.13 million in funds for poverty alleviation initiatives [125]. Governance and Management - The company has established a competitive salary management system to attract and retain talent, linking compensation to performance assessments [176]. - The company has developed a new compensation management system approved by the board to enhance employee motivation and performance [177]. - The company has undergone a board restructuring, resulting in several changes in directors and management positions [174]. - The company has maintained a consistent leadership structure with no changes in key management personnel during the reporting period [160]. Future Outlook - The company plans to achieve a total production and sales volume of 7,150 tons REO for rare earth concentrate and approximately 12,000 tons for unique stone in 2020 [73]. - The company aims for an annual revenue target of 6.5 to 7.5 billion yuan in 2020, subject to market supply and demand conditions [73]. - The company is focusing on enhancing operational efficiency and cash flow management to support future growth strategies [48].