证券代码：600497 证券简称：驰宏锌锗 公告编号：临 2023-020 云南驰宏锌锗股份有限公司 关于召开 2022 年度暨 2023 年第一季度报告 网上业绩说明会的公告 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： 为便于广大投资者更加全面深入地了解公司2022年度及2023年第一季度经 营成果、财务状况，进一步加强与投资者的互动交流，公司将于 2023 年 6 月 6 日召开 2022 年度暨 2023 年第一季度报告网上业绩说明会，在信息披露允许的范 围内对投资者普遍关注的问题进行回答，并广泛听取投资者的意见和建议，现将 有关事项公告如下： 一、业绩说明会安排 (一)召开时间：2023 年 6 月 6 日(星期二) 15:00 至 16:00。 (二)召开方式：网络文字互动。 (三)出席人员：董事长王冲先生、独立董事陈旭东先生、总经理陈青先生、 财务总监李昌云先生和董事会秘书王光明先生。 (四) 投资者参与方式： 参与方式一：在微信小程序中搜索"驰宏锌锗投资者关系"； 参与方式二：微信扫一扫 ...

投资者参与方式：登录"全景•路演天下"网站（http://rs.p5w.net/）， 或关注微信公众号"全景财经"，或下载全景路演 APP。 云南驰宏锌锗股份有限公司 关于参加云南辖区上市公司 2022 年度投资者网上集 体接待日暨集体业绩说明会的公告 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 5 月 11 日（星期四）10:30 至 12:00。 会议召开方式：网络远程方式。 证券代码：600497 证券简称：驰宏锌锗 公告编号：临 2023-018 特此公告。 为进一步加强与投资者的互动交流，云南驰宏锌锗股份有限公司（以下简称 "公司"）将参加由云南证监局、云南省上市公司协会、深圳市全景网络有限公 司共同举办的"云南辖区上市公司 2022 年度投资者网上集体接待日暨集体业绩 说明会"主题活动，现将有关事项公告如下： 一、活动时间和方式 本次活动将于 2023 年 5 月 11 日（星期四）10:30 至 12:00 在深圳全景网络 有限公司提供的网上平台采取网络远程的 ...

Financial Performance - In 2022, the net profit attributable to shareholders of the listed company was CNY 689,220,007.62, representing 91.24% of the total profit available for distribution[3]. - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, totaling CNY 610,954,988.16, based on a total share capital of 5,091,291,568 shares[3]. - The operating revenue for 2022 was CNY 217.17 billion, with a net profit of CNY 34.28 billion, reflecting a continuous improvement in profitability[6]. - The company achieved operating revenue of 21.9 billion RMB in 2022, a year-on-year increase of 0.85%[23]. - Net profit attributable to shareholders reached 669.6 million RMB, reflecting a growth of 14.58% compared to the previous year[23]. - The net cash flow from operating activities was 3.43 billion RMB, up 5.78% year-on-year[23]. - The company's total assets decreased by 6.96% to 26.6 billion RMB as of the end of 2022[23]. - The asset-liability ratio improved to 35.26%, a decrease of 4.59 percentage points year-on-year, marking the best performance since the company went public[29]. - Basic earnings per share increased to 0.1315 RMB, representing a growth of 14.55% from the previous year[24]. - The weighted average return on net assets rose to 4.50%, an increase of 0.57 percentage points year-on-year[24]. Environmental Initiatives - The company has invested CNY 5.23 billion in environmental protection initiatives, achieving a 100% compliance rate for pollutant discharge and solid waste disposal[10]. - In 2022, the company invested 5.23 billion yuan in environmental protection, achieving a 100% completion rate for rectifying issues identified by central ecological inspections[41]. - The company constructed 6 green mines and 4 green factories, enhancing its commitment to environmental protection and sustainable development[81]. - The company is committed to strict compliance with national environmental protection regulations, continuously improving pollution prevention levels through technology upgrades[134]. Technological Innovation - The company has developed 37 technological achievements recognized at the provincial and ministerial levels, and added 133 new effective patents, including 18 invention patents[12]. - The company is focusing on technology innovation, having undertaken 15 provincial and ministerial projects and hosting a national forum on sustainable development in the lead-zinc industry[11]. - The company successfully completed 15 provincial and above-level projects, including 4 national key R&D projects, enhancing its technological capabilities[34]. - The company has implemented advanced mining and smelting technologies, including deep well mining and comprehensive recovery of various valuable metals[80]. Market and Industry Trends - The lead and zinc industry in China is expected to experience a high-level fluctuation in prices in 2023, with lead prices projected to range between 14,000 and 16,500 RMB per ton[127]. - The domestic lead and zinc market is expected to maintain a tight balance in supply and demand, with a slight increase in consumption anticipated[127]. - The lead and zinc industry is witnessing a trend towards green and low-carbon transformation, with an emphasis on resource recycling and sustainable practices[124]. - The global mining landscape is undergoing restructuring, with countries seeking to reduce reliance on foreign resources, increasing the difficulty of securing stable resource supplies from abroad[112]. Governance and Management - The board of directors consists of 11 members, including 8 external directors, with a structure that ensures effective checks and balances[139]. - The company has established a governance structure that integrates party leadership, ensuring a scientific and standardized decision-making process[138]. - The company has established a dual prevention mechanism for safety management, focusing on major hazard control and enhancing safety skills across the workforce[134]. - The company has implemented a comprehensive internal control system to enhance management effectiveness and risk management[185]. Production and Operations - In 2022, the company produced 8.56 million tons of lead and 23.17 million tons of zinc, with total lead and zinc products reaching 43.83 million tons[31]. - The company achieved a zinc recovery rate of 100% in its innovative low-alkali process, setting an industry benchmark[33]. - The company has a total mining capacity of 3 million tons per year and a zinc-lead smelting capacity of 630,000 tons[54]. - The company has established four major smelting bases, ensuring a stable industrial layout in resource-rich regions of Inner Mongolia and Yunnan[78]. Risk Management - The company has identified ten major risks for the year and has developed corresponding strategies and measures to address them[42]. - The company is exposed to metal price fluctuation risks, particularly in zinc and lead, which significantly impact profit levels due to their volatility influenced by economic cycles and market supply-demand dynamics[134]. - The company has implemented measures to enhance market analysis capabilities and utilize financial derivatives to manage metal price risks effectively[134]. Shareholder Engagement - The company held 3 shareholder meetings during the reporting period, reviewing 23 major matters, adhering strictly to legal regulations and internal rules[138]. - The company engaged in 69 investor communication sessions, reaching 358 participants, and responded to 200 investor calls and 140 inquiries via email and online platforms[140]. - The company has a strategic focus on employee engagement through stock ownership, aligning employee interests with company performance[156]. Future Outlook - The company aims to achieve an operating income of over 22 billion RMB in 2023, with a net cash flow from operating activities expected to exceed 3 billion RMB[131]. - The company has set a development goal of becoming a world-class lead, zinc, and germanium enterprise by 2035, focusing on resource enhancement and technological innovation[128]. - The company plans to enhance production organization and efficiency through intelligent management and full-cycle management practices[130].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 5,787,614,493.61, representing a year-on-year increase of 6.19%[4] - Net profit attributable to shareholders was CNY 580,468,012.35, with a year-on-year increase of 5.86%[4] - Basic earnings per share were CNY 0.1140, reflecting a growth of 5.85% year-on-year[4] - Total operating revenue for Q1 2023 reached ¥5,787,614,493.61, an increase of 6.2% compared to ¥5,450,421,011.13 in Q1 2022[15] - Net profit for Q1 2023 was ¥582,163,678.98, representing a 6.1% increase from ¥548,635,028.58 in Q1 2022[16] - Earnings per share for Q1 2023 was ¥0.1140, compared to ¥0.1077 in Q1 2022, reflecting a growth of 3.6%[16] Cash Flow - The net cash flow from operating activities reached CNY 1,247,965,642.82, showing a significant increase of 84.98% compared to the previous year[4] - In Q1 2023, the company generated a net cash flow from operating activities of ¥1,247,965,642.82, a significant increase of 85.0% compared to ¥674,647,109.42 in Q1 2022[18] - Total cash inflow from operating activities was ¥7,066,586,163.22, up from ¥6,073,166,076.14 in the same period last year, representing an increase of 16.4%[18] - Cash outflow for operating activities was ¥5,818,620,520.40, compared to ¥5,398,518,966.72 in Q1 2022, reflecting an increase of 7.8%[18] - The net increase in cash and cash equivalents was ¥445,494,223.55, contrasting with a decrease of -¥646,933.17 in Q1 2022[19] - The ending balance of cash and cash equivalents reached ¥1,507,664,724.32, up from ¥1,189,052,091.61 at the end of Q1 2022[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 26,791,007,423.70, an increase of 0.72% from the end of the previous year[4] - The company's total assets reached 26,791,007,423.70 RMB, compared to 26,599,514,272.14 RMB at the end of 2022[12] - Total liabilities decreased to ¥8,996,750,353.24 as of March 31, 2023, down from ¥9,378,913,894.72 at the end of 2022[13] - The company reported a total non-current asset value of 23,395,800,176.57 RMB, down from 23,595,240,529.57 RMB[12] Shareholder Information - Total number of common shareholders at the end of the reporting period was 161,981[8] - Yunnan Metallurgical Group Co., Ltd. holds 1,944,142,784 shares, accounting for 38.19% of total shares[8] - The company's equity attributable to shareholders increased to CNY 15,489,437,013.58, up 3.84% from the previous year[4] Cost Management - The company reported a decrease in financial expenses by 55.24%, resulting from a reduction in interest-bearing liabilities[6] - The company reported a decrease in financial expenses to ¥28,572,542.53 in Q1 2023, down from ¥63,841,757.14 in Q1 2022, highlighting improved cost management[15] - Total operating costs for Q1 2023 were ¥5,113,713,368.83, up 6.0% from ¥4,823,861,776.86 in Q1 2022[15] Research and Development - Research and development expenses for Q1 2023 were ¥3,117,065.55, significantly reduced from ¥13,480,643.07 in Q1 2022, indicating a strategic shift in R&D spending[15] Other Financial Metrics - Other comprehensive income after tax for Q1 2023 was -¥16,840,599.02, compared to ¥19,023,945.45 in Q1 2022, indicating a shift in financial performance[16] - The company has not disclosed any significant new product developments or market expansion strategies in the current report[10]

Financial Performance - In 2021, the net profit attributable to shareholders of the listed company was CNY 584,417,261.51, while the parent company achieved a net profit of CNY 1,438,146,515.29[7] - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, totaling CNY 610,954,988.16, which accounts for 104.54% of the net profit attributable to shareholders for the year[7] - The company's operating revenue for 2021 was CNY 21.72 billion, representing a year-on-year increase of 13.31%[19] - Net profit attributable to shareholders for 2021 was CNY 584.42 million, up 23.90% from the previous year[19] - The basic earnings per share for 2021 was CNY 0.1148, reflecting a 23.97% increase compared to 2020[19] - The weighted average return on equity (ROE) increased to 3.93%, up by 0.8 percentage points from the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 945.63 million, a significant increase of 128.36% year-on-year[19] - The total distributable profit for 2021 was CNY 730,269,772.08, after accounting for the surplus reserve and retained earnings[7] Cash Flow and Dividend Policy - The operating cash flow has shown continuous improvement, indicating a positive trend in the company's financial health[16] - The company has maintained a high cash dividend payout ratio since its listing, sharing development results with investors[16] - The net cash flow from operating activities for 2021 was CNY 3.24 billion, an increase of 21.29% year-on-year[19] - The company has implemented a cash dividend policy, distributing at least 10% of the annual distributable profits in cash, with a cumulative distribution of no less than 30% of the average annual distributable profits over the last three years[180] Asset Management - The asset-liability ratio has been decreasing for three consecutive years, reflecting an optimized capital structure[16] - The company's asset-liability ratio decreased to 39.85%, marking a continuous decline over six years[19] - Total assets at the end of the reporting period were CNY 28,589.72 million, a decrease of CNY 106.30 million, down 3.58% from the beginning of the year[64] - The company's total liabilities decreased by CNY 88.89 million to CNY 1,139.26 million, a decline of 7.24%[64] Production and Operations - The company completed zinc product production of 38.77 million tons in 2021, with zinc ingots at 29.08 million tons and zinc alloys at 9.69 million tons[29] - The company produced 241,300 tons of zinc concentrate in 2021, accounting for 5.83% of the domestic total, and 387,700 tons of refined zinc, representing 6.05% of the domestic output[49] - The company achieved a lead concentrate production of 89,900 tons, which is 4.58% of the domestic total, and refined lead production of 106,700 tons, accounting for 2.05% of the domestic market[50] - The company produced 57.48 tons of germanium products, which is 52.25% of the estimated domestic germanium metal output of 110 tons[51] - The company’s lead mining grade is 15.11%, significantly higher than the industry average of 6.73%[53] - The lead recovery rate in the company’s mining operations is 88.65%, above the industry average of 85.60%[53] - The zinc recovery rate is 94.12%, exceeding the industry average of 90.85%[54] - The company has established a comprehensive production capacity utilization rate of 95.75% for mining, selection, and smelting operations[55] Research and Development - The company filed for 6 key R&D projects at the national and provincial levels, significantly enhancing its technological capabilities[35] - Research and development expenses increased by 38.67% to CNY 74.19 million, indicating a stronger focus on innovation[66] - Total R&D expenditure for the year 2021 amounted to ¥623,781,058.39, representing 2.87% of total revenue[84] - The number of R&D personnel is 425, accounting for 4.98% of the total workforce[85] - The company applied for 120 patents in 2021, including 30 invention patents and 90 utility model patents, with a total of 759 valid patents by the end of the reporting period[86] Environmental Responsibility - The company is committed to environmental responsibility, with specific pollutant discharge data reported for its subsidiaries[190] - The company achieved a total industrial solid waste generation of 1.445 million tons, with all waste entrusted for comprehensive utilization[191] - The company reported a carbon emission of 80.80 thousand tons from its smelting division, with sulfur dioxide emissions at 275.48 tons[191] - The company has implemented a complete wastewater recycling system, with no external discharge reported from its operations[193] - The company conducted 38 emergency drills for environmental incidents at its mining division, ensuring preparedness[197] - The company reported no environmental administrative penalties or judicial judgments in 2021, indicating compliance with ecological regulations[200] Governance and Compliance - The company held 3 shareholder meetings during the reporting period, reviewing 17 major matters, ensuring compliance with legal regulations and internal rules[135] - The board of directors consists of 11 members, with 8 external directors, accounting for 72.73%, enhancing decision-making quality[136] - The supervisory board convened 5 times, reviewing 19 matters including financial audits and budget reports, adhering to legal and internal regulations[137] - The company completed 111 temporary announcements and related disclosures throughout the year, maintaining high standards of information transparency[138] - The company has established an independent financial accounting department, ensuring no assets are occupied by the controlling shareholder[142] Strategic Initiatives - The company aims to enhance production efficiency and profitability through a focus on value creation and full industry chain advantages[28] - The company aims to become the absolute leader in the domestic lead, zinc, and germanium industry by integrating resources and improving production efficiency[36] - The company is expanding its industrial layout into the northwest region of China and overseas markets[58] - The company is focusing on enhancing its environmental governance capabilities in response to new regulations on heavy metal pollution control[98] - The company is committed to optimizing labor cost efficiency and enhancing employee motivation through its salary policies[177]

Financial Performance - Operating revenue for the first nine months was CNY 13,779,942,681.72, an increase of 2.46% year-on-year[4] - Net profit attributable to shareholders for the first nine months was CNY 683,069,282.18, a decrease of 17.10% compared to the same period last year[4] - The net cash flow from operating activities for the first nine months was CNY 1,735,622,532.88, down 23.77% year-on-year[4] - Total operating revenue for Q3 2020 reached ¥5,519,137,654.87, a 49.0% increase from ¥3,705,538,607.73 in Q3 2019[21] - Net profit attributable to shareholders for Q3 2020 was ¥313,995,779.41, compared to ¥126,623,952.97 in Q3 2019, reflecting a 148.5% increase[24] - Total operating profit for the first three quarters of 2020 was CNY 587.47 million, a decrease of 39% from CNY 961.82 million in the same period of 2019[28] - The total comprehensive income for Q3 2020 was ¥259,801,178.35, compared to ¥197,804,772.86 in Q3 2019, reflecting a 31.3% increase[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 30,983,944,817.79, a decrease of 1.24% compared to the end of the previous year[4] - Total liabilities amounted to CNY 13,283,831,900.80, a decrease of 2.73% from CNY 13,655,365,272.95 in the previous year[17] - Total equity reached CNY 17,700,112,916.99, slightly down from CNY 17,717,414,109.73 year-over-year[17] - Current assets increased to CNY 5,959,291,979.69, up 22.73% from CNY 4,855,963,876.61 in the previous year[18] - Non-current assets decreased to CNY 21,635,889,167.88, down from CNY 22,875,921,776.76 year-over-year[18] - Long-term borrowings increased by 97.43% to ¥5,203,063,344.00 from ¥2,635,402,232.00 year-on-year[9] - Total liabilities for the current period were CNY 11,061,085,541.66, a slight decrease from CNY 11,073,433,269.60 year-over-year[19] Cash Flow - The net cash flow from operating activities decreased by 23.77% to ¥1,735,622,532.88 compared to ¥2,276,867,156.96 in the previous year[11] - Total cash inflow from operating activities for the first nine months of 2020 was 6,715,455,320.55 RMB, up 21% from 5,551,220,909.39 RMB in the same period of 2019[32] - The cash outflow from investing activities in Q3 2020 was 626,745,262.47 RMB, down 51% from 1,275,272,260.51 RMB in Q3 2019[31] - The net cash flow from financing activities in Q3 2020 was -1,254,904,824.95 RMB, an improvement from -1,998,310,568.07 RMB in Q3 2019[31] Research and Development - The company's R&D expenses increased by 289.89% to ¥29,122,308.53 compared to ¥7,469,405.02 in the same period last year[10] - Research and development expenses in Q3 2020 amounted to ¥15,303,639.68, significantly up from ¥3,181,345.35 in Q3 2019, indicating a 380.5% increase[21] - R&D expenses increased significantly to CNY 5.61 million in Q3 2020, compared to CNY 0.90 million in Q3 2019, reflecting a focus on innovation[28] Shareholder Information - The total number of shareholders at the end of the reporting period was 158,331, with Yunnan Metallurgical Group holding 38.19% of shares[6] - Shareholders' equity totaled approximately $17.72 billion, with total equity attributable to the parent company amounting to about $14.91 billion[36] Other Financial Metrics - The weighted average return on equity decreased by 1.08 percentage points to 4.55%[4] - The company reported a significant increase in trading financial assets, rising by 1,150.07% to CNY 45,169,929.49 due to substantial floating profits from futures positions[8] - Accounts receivable increased by 59.89% to CNY 38,467,775.55, attributed to delayed payments for zinc alloy sales[8] - Other receivables rose by 140.89% to CNY 349,618,574.39, mainly due to an increase in futures margin deposits[8] - The company reported a significant increase in credit impairment losses, with a loss of ¥10,010,919.13 compared to a gain of ¥7,343,255.11 in the previous year[10]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥8,260,805,026.85, a decrease of 15.21% compared to ¥9,743,130,918.16 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was ¥369,073,502.77, down 47.08% from ¥697,392,688.29 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥347,183,269.44, a decrease of 47.43% compared to ¥660,387,257.87 in the same period last year[12]. - The net cash flow from operating activities was ¥1,145,431,557.84, down 25.62% from ¥1,540,056,024.56 in the previous year[12]. - Basic earnings per share for the reporting period (1-6 months) decreased by 47.08% to CNY 0.0725 compared to CNY 0.1370 in the same period last year[13]. - The weighted average return on equity dropped by 2.3273 percentage points to 2.4477% from 4.7750% year-on-year[13]. - The total amount of non-recurring gains and losses for the reporting period was CNY 21,890,233.33, with government subsidies contributing CNY 33,837,537.43[14]. - The company's revenue for the first half of 2020 was 8.261 billion yuan, with a total profit of 470 million yuan and a net profit attributable to shareholders of 369 million yuan[33]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥14,634,903,873.10, a decrease of 1.85% from ¥14,911,502,442.63 at the end of the previous year[12]. - Total assets at the end of the reporting period were ¥31,313,286,114.79, a slight decrease of 0.19% from ¥31,372,779,382.68 at the end of the previous year[12]. - The company's total liabilities increased to ¥13,872,399,070.63 from ¥13,655,365,272.95, representing a rise of approximately 1.6%[125]. - The total equity attributable to shareholders decreased to ¥14,634,903,873.10 from ¥14,911,502,442.63, a decline of about 1.9%[126]. - The company's total equity decreased to CNY 16,437,912,401.42 from CNY 16,658,452,383.77, a decline of 1.3%[129]. Production and Capacity - The company has a comprehensive production capacity of 400 tons for precious metals including copper, lead, and antimony, with a zinc and lead mining capacity of 300 million tons and 400,000 tons respectively[15]. - The company maintains a raw material self-sufficiency rate of 75%, sourcing the remaining 25% from external procurement[18]. - The company has a total smelting capacity of 630,000 tons, with lead smelting capacity at 230,000 tons and zinc smelting capacity at 400,000 tons[20]. - The company produced over 40 tons of germanium products, accounting for approximately 45% of domestic germanium metal output and over 30% of global output[23]. - In the first half of 2020, the company produced 42,500 tons of lead, accounting for 4.91% of the estimated domestic lead output of 865,000 tons[25]. - The company achieved a zinc production of 118,200 tons, representing 6.48% of the estimated domestic zinc output of 1,825,000 tons[25]. - The company’s germanium production was 24.22 tons, which is 38.75% of the estimated domestic germanium output of 62.5 tons[25]. Environmental and Social Responsibility - The company invested 3.28 billion yuan in environmental protection during the reporting period, accounting for 5.1% of sales revenue[28]. - The company donated 7.5 million yuan to support COVID-19 prevention efforts in Huangshi City, Hubei Province[34]. - The company has implemented a "1+N" poverty alleviation model, transitioning from "blood transfusion" to "blood production" methods, resulting in an annual income increase of over 5 million RMB for local farmers[74]. - The company has actively participated in pandemic prevention efforts, distributing materials and assisting in local agricultural management during the spring planting season[75]. - The company has established a farmers' cooperative to promote livestock farming, ensuring shared benefits between the cooperative and impoverished households[74]. Research and Development - Research and development expenses increased significantly by 222.26% to ¥13,818,668.85 from ¥4,288,059.67 in the previous year[46]. - The company has filed 477 patents, including 142 invention patents and 333 utility model patents, demonstrating a strong commitment to technological innovation[30]. Corporate Governance - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period[61]. - The company’s board and supervisory board underwent a re-election process, appointing a new senior management team[120]. - The company has not reported any changes in controlling shareholders or actual controllers during the reporting period[117]. Compliance and Risk Management - The report has not been audited, and the management has declared the financial report's authenticity and completeness[2]. - The company has described potential risks it may face in the report, which investors should be aware of[4]. - The company is committed to strengthening safety production responsibilities and improving safety management systems to address high safety risks in the mining and smelting industry[58]. Market and Sales - The company’s trade business includes lead and zinc products, with sales primarily in East China and North China regions[24]. - The company aims to enhance market analysis capabilities and increase the use of futures hedging tools to mitigate market risks and expand profits[57].

Financial Performance - Operating revenue for the period was CNY 3,400,156,099.52, representing a decrease of 28.31% year-on-year[4] - Net profit attributable to shareholders was CNY 176,779,484.45, down 51.36% from the previous year[4] - Basic earnings per share decreased by 51.40% to CNY 0.0347[4] - The company reported a significant decrease in net profit due to lower operating revenue and increased costs[4] - Total profit decreased to ¥233,265,605.30, a decline of 46.77% compared to the previous period, primarily due to falling market prices for lead and zinc products[9] - The net profit attributable to shareholders of the parent company was CNY 176,779,484.45, down from CNY 363,430,599.59 in the same period last year, a decrease of about 51.4%[19] - The total comprehensive income for the period was CNY 86,733,205.18, compared to CNY 309,490,114.77 in Q1 2019, reflecting a decline of approximately 72%[19] Cash Flow - Net cash flow from operating activities increased by 101.00% to CNY 564,543,266.80 compared to the same period last year[4] - The company’s cash flow from financing activities improved to ¥44,775,784.50, compared to a negative cash flow of ¥587,883,439.75 in the previous period[9] - The net cash flow from operating activities in Q1 2020 was ¥564,543,266.80, down from ¥280,873,816.87 in Q1 2019[23] - The cash inflow from financing activities in Q1 2020 was ¥2,492,550,000.00, compared to ¥887,147,436.24 in Q1 2019, indicating a growth of 180.5%[23] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 31,799,788,694.46, an increase of 1.36% compared to the end of the previous year[4] - Cash and cash equivalents increased to ¥1,259,082,993.77, a 46.80% increase from the previous period[8] - Total liabilities reached CNY 11,780,330,901.92, up from CNY 11,073,433,269.60 at the end of 2019[16] - The company reported a total equity of CNY 16,877,231,441.80, compared to CNY 16,658,452,383.77 at the end of 2019, reflecting a growth of 1.3%[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 169,052[6] - The largest shareholder, Yunnan Metallurgical Group Co., Ltd., held 38.19% of the shares[6] Operational Metrics - Total operating costs for Q1 2020 were CNY 3,166,850,634.07, down 26.2% from CNY 4,297,675,086.36 in the same period last year[17] - The company experienced a foreign currency translation loss of CNY 154,593,718.77, compared to a loss of CNY 27,239,368.73 in the previous year[19] - Research and development expenses increased significantly to CNY 4,553,819.16 from CNY 1,706,786.21, marking a rise of approximately 167.5%[18] Government Support - The company received government subsidies amounting to CNY 23,942,380.93, closely related to its normal business operations[5] - Other income increased by 40.55% to ¥23,942,380.93, mainly from increased employment stabilization subsidies received[9]

Financial Performance - The net profit attributable to shareholders for 2019 was CNY 777,138,406.46, while the parent company achieved a net profit of CNY 1,150,769,800.95[3] - The company plans to distribute a cash dividend of CNY 1.2 per 10 shares, totaling CNY 610,954,988.16, which accounts for 78.62% of the net profit attributable to shareholders[3] - The actual distributable profit for 2019, after accounting for the surplus reserve and retained earnings, was CNY 829,429,786.34[3] - The company's operating revenue for 2019 was ¥16,403,340,800.23, a decrease of 13.44% compared to ¥18,950,719,417.68 in 2018[12] - The net profit attributable to shareholders for 2019 was ¥777,138,406.46, representing an increase of 24.78% from ¥622,792,483.84 in 2018[12] - The net cash flow from operating activities for 2019 was ¥2,543,194,090.18, down 5.51% from ¥2,691,527,090.86 in 2018[12] - The total assets at the end of 2019 were ¥31,372,779,382.68, a decrease of 1.49% from ¥31,846,566,582.49 at the end of 2018[12] - The company’s net assets increased from 6.881 billion yuan to 14.912 billion yuan, while the debt-to-asset ratio decreased from 66.66% to 43.52%[38] - The company achieved a net profit of 777.14 million yuan, an increase of 24.78% year-on-year[54] - The total revenue for the year was 1,612,653.92 million RMB, reflecting a decrease of 12.75% compared to the previous year[82] Operational Efficiency - The company has a comprehensive production capacity of 300,000 tons of ore selection, 400,000 tons of zinc and lead metal production capacity, and 63,000 tons of lead and zinc smelting capacity as of the end of 2019[17] - The company maintained a mining recovery rate of 95.53% and a smelting capacity utilization rate of 81.48%[49] - The company implemented cost reduction measures that resulted in over 100 million yuan in economic benefits, with mining and smelting units achieving over 50 million yuan in cost savings each[50] - The company has invested in new technologies and product development to improve operational efficiency and product quality[17] - The company is focusing on cost management by introducing a full-cost management concept to improve profitability[95] Market and Product Development - The company plans to continue expanding its market presence and enhance its product offerings in the zinc, lead, and germanium sectors[17] - The company plans to enhance resource exploration and increase reserves through both internal exploration and external resource integration[95] - The company is pursuing a strategy of industry integration, focusing on the synergy between upstream and downstream operations[93] - The company plans to enhance market analysis capabilities and utilize futures hedging tools to mitigate market risks and expand profits[97] Environmental Compliance and Initiatives - The company has implemented a comprehensive wastewater recycling system, achieving zero external discharge[173] - The company operates eight key pollutant discharge units, all of which comply with national pollution discharge standards and have zero environmental incidents[137] - The company has established a comprehensive quality management system and has been recognized as a "national AAAA standardization good behavior enterprise"[39] - The company is committed to improving its environmental management level through stricter pollution prevention and ecological protection measures[99] - The company has made significant investments in new technologies for waste gas treatment, which are expected to improve overall operational efficiency[186] Research and Development - Research and development expenses increased significantly by 221.75%, reaching ¥60,110,408.72 compared to ¥18,682,258.43 in the previous year[55] - The company applied for 99 patents in 2019, with 90 patents granted, including 12 invention patents[66] - The company is committed to ongoing research and development of new products aimed at reducing environmental impact and improving operational efficiency[165] Risk Management - The company has outlined potential risks in its operational analysis section, which investors should be aware of[4] - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, highlighting the importance of investment risk awareness[4] - The company has enhanced its risk resistance capabilities, with improved economic benefits for smelting enterprises due to high processing fees and increased production capacity[70] Corporate Governance - The company has received a standard unqualified audit report from its accounting firm, Xin Yong Zhong He[2] - There were no significant lawsuits or arbitration matters reported for the year[114] - The company has no plans for bankruptcy reorganization or facing delisting risks[113] - The company has not disclosed any significant contracts or their performance for the year[118] Community Engagement and Social Responsibility - The company has established a leadership mechanism for poverty alleviation, providing annual village work funding of 10,000 yuan per person and daily living subsidies of 50 yuan[130] - A total of 3,178 individuals have been lifted out of poverty through the company's initiatives, with a financial investment of 2.19 million yuan and material contributions valued at 150,000 yuan[133] - The company has allocated 12 million yuan to improve educational resources in impoverished areas and 10 million yuan for healthcare resources[134] Future Outlook - The company expects to achieve an operating revenue of ¥20 billion in 2020, with a net cash flow from operating activities of approximately ¥2.25 billion[95] - The company is exploring market expansion opportunities to enhance its competitive position in the industry[145] - The company plans to expand its zinc production capacity from 5,000 tons per year to 12,000 tons per year, and the flotation capacity from 200 tons per day to 400 tons per day[197]