Financial Performance - The net profit for the parent company in 2014 was CNY 215,971,938.70, with a 10% statutory surplus reserve of CNY 21,597,193.87, leaving a distributable profit of CNY 194,374,744.83[3]. - The total distributable profit available to shareholders after accounting for the beginning retained earnings of CNY 868,814,551.56 and deducting the cash dividends of CNY 250,134,133.50 was CNY 813,055,162.89[3]. - The company achieved operating revenue of CNY 18.90 billion in 2014, a year-on-year increase of 4.54%[30]. - Net profit attributable to shareholders was CNY 161.17 million, a decrease of 72.66% compared to the previous year[30]. - The adjusted net profit, excluding non-recurring gains and losses, was CNY 137.75 million, down 58.15% year-on-year[30]. - The company’s total assets increased by 10.57% to CNY 32.84 billion by the end of 2014[30]. - The net assets attributable to shareholders decreased by 1.98% to CNY 7.19 billion at the end of 2014[30]. - Basic earnings per share were CNY 0.0966, reflecting a decline of 74.50% from the previous year[24]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2014, representing a 15% growth compared to the previous year[126]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares, totaling CNY 250,134,133.50, based on a total share capital of 1,667,560,890 shares as of December 31, 2014[3]. - The company has implemented a cash dividend policy, distributing a total of 250,134,133.50 RMB in cash dividends for the fiscal year 2013, amounting to 1.5 RMB per 10 shares[86]. - The company plans to distribute cash dividends amounting to no less than 10% of the distributable profit each year for the next three years, with a cumulative distribution of no less than 30% of the average annual distributable profit over the next three years[101]. Operational Highlights - The company produced 326,300 tons of refined lead and zinc products in 2014, with zinc ingots accounting for 183,210 tons[31]. - The company initiated a 140,000 tons/year zinc and 60,000 tons/year lead smelting project in October 2014[32]. - The company planned to produce a total of 292.35 million tons of oxidized and sulfide ore in 2014, but actual mining volume was 262 million tons, with a zinc and lead metal output of 350,000 tons[53]. - The company reported total operating revenue of 18.90 billion RMB in 2014, exceeding the planned target of 18 billion RMB[53]. Financial Position - The company’s total profit for 2014 was 227 million RMB, achieving only 56.75% of the planned target of 400 million RMB due to exploration expenses and declining metal prices[53]. - The company’s total assets reached ¥32,839,802,236.64, up from ¥29,699,205,136.95, reflecting an increase of approximately 10.8%[167]. - Total liabilities increased to ¥21,403,499,378.35 from ¥18,046,510,188.91, indicating a rise of about 18.5%[166]. - Total owner's equity decreased to ¥11,436,302,858.29 from ¥11,652,694,948.04, a decline of about 1.9%[167]. Research and Development - Research and development expenses totaled ¥9,995,401.71, a decrease of 47.69% from ¥19,108,850.37 in the previous year[35]. - The total amount of R&D expenditure accounted for 0.05% of operating revenue, indicating a focus on innovation despite the decrease in spending[47]. - The company has applied for 23 patents in 2014, with 13 patents authorized, demonstrating its commitment to intellectual property and technological advancement[48]. Risk Management - The report includes a risk statement regarding forward-looking statements, indicating that future plans and strategies do not constitute a commitment to investors[4]. - The company faces risks related to price fluctuations of lead and zinc products, which directly impact profit levels[76]. - The company has implemented long-term management for its main products to mitigate price fluctuation risks, particularly for zinc and lead[37]. Corporate Governance - The audit report issued by Ruihua Certified Public Accountants was a standard unqualified opinion[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its management team[5]. - The company has established a sound governance structure, ensuring no discrepancies with the Company Law and relevant regulations from the China Securities Regulatory Commission[144]. - The company actively communicates with investors and respects their rights, following the Investor Relations Management System[144]. Shareholder Information - The total number of shareholders increased to 153,360 by the end of the reporting period, up from 134,808 five trading days prior[115]. - The largest shareholder, Yunnan Metallurgical Group Co., Ltd., holds 49.74% of the shares, totaling 829,505,201 shares, with 202,960,431 shares pledged[117]. - The company has a total of 10 major shareholders, with various percentages of shareholding, reflecting a diverse ownership structure[116]. Environmental and Safety Compliance - The company operates in a high-risk industry for safety production, with ongoing efforts to enhance safety management systems and prevent accidents[79]. - Environmental protection pressures are significant due to the company's involvement in heavily regulated industries, leading to increased operational costs and the need for stricter compliance with environmental laws[80]. Strategic Initiatives - The company plans to optimize smelting technology and enhance environmental protection measures in response to new regulations[71]. - The company aims to enhance operational efficiency and economic benefits by improving mining output and reducing production costs[53]. - The company is focused on expanding its control over quality mineral resources through self-exploration, third-party cooperation, and strategic partnerships, but faces risks of declining mineral resource reserves that could adversely affect operational performance[78].

Financial Performance - Net profit attributable to shareholders decreased by 64.28% to CNY 152.90 million year-to-date[7] - Operating revenue rose by 8.39% to CNY 14.91 billion year-to-date[7] - The company reported a decrease in net profit after deducting non-recurring gains and losses by 32.00% to CNY 119.85 million year-to-date[7] - The company reported a year-to-date net profit of ¥291,065,524.87, which is a 14.2% increase from ¥254,792,112.92 in the previous year[23] - The net profit for Q3 2023 was ¥149,945,093.25, a significant increase of 161.3% compared to ¥57,474,825.59 in Q3 2022[23] - Total revenue for Q3 2014 was CNY 5,591,767,328.27, a decrease of 12.2% compared to CNY 6,371,828,839.66 in Q3 2013[21] - Net profit for Q3 2014 was CNY 59,962,041.16, down 31.5% from CNY 87,593,977.67 in the same period last year[21] Cash Flow - Net cash flow from operating activities increased by 63.56% to CNY 638.63 million year-to-date[7] - Cash flow from operating activities for the first nine months of 2023 was ¥638,629,937.81, up 63.7% from ¥390,454,987.81 in the same period last year[26] - Operating cash flow for the first nine months of 2014 was CNY 552,997,729.80, an increase of 17.4% compared to CNY 470,761,294.60 in the same period last year[29] - Total cash inflow from operating activities reached CNY 3,642,402,335.04, up from CNY 3,099,090,058.62, reflecting a growth of 17.5% year-over-year[29] - Cash inflow from financing activities totaled CNY 4,288,474,645.89, compared to CNY 9,316,162,733.18 in the previous year, indicating a decrease of 53.9%[29] - The net cash flow from financing activities was CNY 159,925,306.88, a significant decline from CNY 4,091,926,117.60 in the same period last year[29] Assets and Liabilities - Total assets increased by 5.98% to CNY 31.48 billion compared to the end of the previous year[7] - The total liabilities increased to CNY 19,981,413,534.19 from CNY 18,046,510,188.91, showing a growth in financial obligations[17] - The company's total equity decreased to CNY 11,494,197,224.31 from CNY 11,652,694,948.04, indicating a decline in shareholder value[17] - Current assets decreased to CNY 3,516,157,402.50 from CNY 4,018,476,229.25, primarily due to a reduction in cash and cash equivalents[16] - The total liabilities increased to CNY 13,659,032,279.79 from CNY 12,549,762,751.81 at the beginning of the year, marking a rise of 8.9%[19] Shareholder Information - The total number of shareholders reached 158,596 by the end of the reporting period[8] - Yunnan Metallurgical Group Co., Ltd. holds 49.74% of shares, with 202.96 million shares pledged[8] Investment and Expenses - Investment income grew by 48.45% to ¥27,936,330.69, recovering from previous losses related to the acquisition of the Selwyn project[9] - Financial expenses increased by 32.00% to ¥586,165,099.11, mainly due to rising interest expenses[9] - The company incurred financial expenses of ¥150,860,976.41 in Q3 2023, compared to ¥144,877,737.24 in Q3 2022, reflecting a 11.5% increase[23] Inventory and Operating Costs - The company’s inventory increased to CNY 1,737,323,912.92 from CNY 1,543,203,528.75, suggesting a buildup of stock[16] - Operating costs for the first nine months of 2023 were ¥2,272,277,307.77, an increase of 23.3% from ¥1,844,071,198.21 in the same period last year[23]

Financial Performance - The company achieved operating revenue of CNY 9.32 billion in the first half of 2014, a year-on-year increase of 26.18%[21] - The net profit attributable to shareholders was CNY 94.34 million, a decrease of 71.87% compared to the same period last year[21] - The basic earnings per share decreased by 75.63% to CNY 0.0566 from CNY 0.2323 in the previous year[18] - The company's operating revenue reached ¥9,322,787,120.28, a 26.18% increase compared to ¥7,388,768,160.87 in the same period last year, primarily due to the expansion of non-ferrous metal trading[25] - The company reported a significant decrease in net cash flow from investing activities, which amounted to -¥1,105,822,492.38, a 73.41% improvement from -¥4,158,267,884.41, primarily due to reduced cash outflows for subsidiary acquisitions[25] - The company plans to achieve an operating revenue of ¥18 billion and a profit of ¥400 million for the full year, with the first half showing revenue of ¥93.23 billion and a profit of ¥12.1 million[29] - The company's gross margin in the non-ferrous metal trading segment decreased by 0.06 percentage points, indicating a slight decline in profitability[31] - The net profit for the current period was ¥82,774,764.01, a significant decrease of 76.1% compared to ¥346,626,367.61 in the previous period[85] - Comprehensive income for the current period totaled ¥89,555,953.91, down 70.4% from ¥302,059,054.12 in the prior period[85] Cash Flow and Investments - The net cash flow from operating activities was CNY 384.56 million, an increase of 69.57% year-on-year[19] - The net cash flow from operating activities improved by 69.57% to ¥384,561,366.90, up from ¥226,781,228.57, mainly due to changes in inventory and receivables[25] - Cash flow from operating activities generated a net amount of ¥384,561,366.90, an increase of 69.5% compared to ¥226,781,228.57 in the previous period[91] - The company reported a total of ¥2,519,650,656.18 in cash inflows from operating activities, reflecting a growth of 27.8% from ¥1,971,840,576.13[94] - The total cash inflow from financing activities was ¥4,670,903,811.55, down 46.3% from ¥8,768,465,818.63 in the previous period[92] - Cash outflow from investment activities totaled ¥1,260,813,896.13, a decrease of 71.2% compared to ¥4,375,643,321.34 in the previous period[92] Assets and Liabilities - The total assets of the company reached CNY 31.07 billion, an increase of 4.62% from the beginning of the year[21] - The company's total current assets amount to approximately RMB 4.6 billion, an increase from RMB 4.02 billion at the beginning of the year[78] - The total non-current assets are approximately RMB 26.47 billion, up from RMB 25.68 billion at the beginning of the year[78] - Total current liabilities increased to ¥10,014,490,276.42 from ¥8,767,994,861.72, representing a growth of approximately 14.2%[79] - Total non-current liabilities rose to ¥9,539,244,604.53 from ¥9,278,515,327.19, indicating an increase of about 2.8%[79] - Total liabilities reached ¥19,553,734,880.95, up from ¥18,046,510,188.91, marking a growth of approximately 8.4%[79] Shareholder and Equity Information - The company distributed cash dividends of CNY 250.13 million to shareholders based on the 2013 annual profit distribution plan[51] - The total equity attributable to the parent company at the end of the period is CNY 11,652,694,948.04, an increase from CNY 10,237,990,964.53 at the end of the previous year, representing a growth of approximately 13.9%[98] - The total equity at the beginning of the year was CNY 7,237,292,765.47, which shows a decrease in total equity by CNY 103,857,319.61 during the current period[100] - The total equity attributable to minority shareholders is CNY 4,314,403,954.61, reflecting a slight decrease from the previous period[98] - The total number of shareholders as of the reporting period end is 159,528[69] Operational Focus and Strategy - The company is focusing on resource exploration and integration to secure future resource guarantees and foster new economic growth points[22] - The company is accelerating the construction of mining projects and enhancing safety and environmental management[22] - The company is committed to improving production efficiency and cost control to meet its annual operational goals[21] - The company plans to focus on market expansion and new product development to drive future growth[85] Compliance and Governance - There were no major lawsuits, arbitrations, or media disputes reported during the period[54] - The company has not faced any penalties or criticisms from the China Securities Regulatory Commission or stock exchanges during the reporting period[62] - The company has not experienced any changes in accounting measurement attributes during the reporting period, ensuring consistency in financial reporting[114] - The company has maintained compliance with accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[109] Research and Development - The company’s research and development expenses were ¥95,120,330.80, a slight increase of 3.67% from ¥91,752,945.12[25] Risk Management - The company’s risk reserves remain unchanged, indicating a stable risk management strategy[100]

Financial Performance - Operating revenue rose by 38.13% to CNY 3,967,531,786.38 year-on-year[9] - Net profit attributable to shareholders decreased by 44.66% to CNY 31,063,336.79 compared to the same period last year[9] - Basic earnings per share dropped by 54.63% to CNY 0.0186[9] - Total profit decreased by 38.22% to ¥50,497,334.69 from ¥81,736,578.70, primarily due to a decline in product prices and rising financial expenses[13] - Net profit for Q1 2014 was ¥22,983,088.13, a decrease of 64.6% from ¥64,867,004.30 in Q1 2013[26] - The net profit attributable to shareholders of the parent company was ¥31,063,336.79, down 44.6% from ¥56,132,713.59 in the previous year[26] - The company reported a total comprehensive income of ¥2,286,376.16 for Q1 2014, significantly lower than ¥54,394,849.20 in Q1 2013[26] Cash Flow - Net cash flow from operating activities increased by 87.82% to CNY 221,185,574.53[9] - The cash inflow from operating activities was CNY 4,665,417,762.19, an increase of 37.7% compared to CNY 3,389,500,416.09 in the previous period[31] - The net cash flow from operating activities was CNY 221,185,574.53, up from CNY 117,764,864.00, representing an increase of 88%[31] - The cash outflow for investing activities totaled CNY 762,270,377.66, compared to CNY 542,171,480.86 in the previous period, indicating a significant increase in investment spending[32] - The net cash flow from investing activities was -CNY 759,254,377.66, worsening from -CNY 491,871,480.86 in the previous period[32] - The cash inflow from financing activities was CNY 2,240,492,143.11, slightly up from CNY 2,192,321,892.71[32] - The net cash flow from financing activities decreased to CNY 426,880,090.27 from CNY 711,086,082.77, reflecting a decline of 40%[32] - The ending cash and cash equivalents balance was CNY 1,169,360,997.60, down from CNY 1,657,820,870.82, indicating a decrease of 29.5%[32] Assets and Liabilities - Total assets increased by 1.20% to CNY 30,055,028,844.24 compared to the end of the previous year[9] - Current assets decreased to CNY 3,990,307,803.26 from CNY 4,018,476,229.25, a decline of 0.7%[17] - Total liabilities rose to CNY 18,381,567,821.62 from CNY 18,046,510,188.91, an increase of 1.9%[19] - Total liabilities as of the end of Q1 2014 amounted to ¥12,779,725,606.72, slightly up from ¥12,549,762,751.81 at the end of the previous year[26] - The total current liabilities increased to CNY 9,201,729,121.81 from CNY 8,767,994,861.72, an increase of 4.9%[18] Shareholder Information - The number of shareholders at the end of the reporting period was 164,615[11] - The largest shareholder, Yunnan Metallurgical Group Co., Ltd., holds 49.74% of the shares[11] - The company's equity attributable to shareholders increased to CNY 7,353,689,423.90 from CNY 7,338,290,993.43, a growth of 0.2%[19] - The company committed to distributing at least 10% of its distributable profits in cash annually over the next three years, totaling no less than 30% of the average annual distributable profits[14] Operating Costs and Income - Operating costs increased by 44.07% to ¥3,586,348,454.89, up from ¥2,489,349,068.45 in the previous year[13] - Other operating income rose significantly by 439.86% to ¥9,094,286.37 from ¥1,684,557.06, attributed to increased government subsidies[13] - Investment income dropped by 57.45% to ¥11,275,141.21 from ¥26,497,306.11 due to reduced futures income[13] - The company received government subsidies amounting to CNY 8,300,316.68 during the reporting period[10] Inventory and Receivables - Accounts receivable decreased by 55.24% to ¥69,454,889.10 from ¥155,181,465.10, reflecting the collection of overdue receivables[13] - Accounts receivable increased to CNY 122,826,001.49 from CNY 96,845,056.76, a rise of 26.8%[17] - Inventory remained stable at CNY 1,543,301,209.94 compared to CNY 1,543,203,528.75, showing minimal change[17] - Prepayments increased by 76.03% to ¥116,875,524.16 compared to ¥66,395,684.47 at the end of the previous year[13]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 589,423,146.96 for the year 2013, with a parent company net profit of RMB 340,772,257.40, after allocating 10% to statutory surplus reserves[4]. - The company's operating revenue for 2013 reached ¥18,077,619,669.21, representing a 38.91% increase compared to ¥13,014,320,681.36 in 2012[30]. - The net profit attributable to shareholders for 2013 was ¥589,423,146.96, an increase of 28.80% from ¥457,620,837.55 in 2012[30]. - The net profit after deducting non-recurring gains and losses was ¥329,177,858.12, reflecting a 17.85% increase from ¥279,312,676.33 in 2012[30]. - Basic earnings per share for 2013 were ¥0.3789, up 13.31% from ¥0.3344 in 2012[32]. - The weighted average return on net assets for 2013 was 8.89%, an increase of 0.79 percentage points from 8.10% in 2012[32]. - The net profit for 2013 was ¥608.9 million, an increase of 8.66% year-on-year, with the net profit attributable to the parent company rising by 28.80% to ¥589.4 million[60]. Dividends and Share Capital - A cash dividend of RMB 1.5 per 10 shares (including tax) will be distributed, totaling RMB 250,134,133.50, based on a total share capital of 1,667,560,890 shares as of December 31, 2013[5]. - The company distributed cash dividends of 1.5 RMB per 10 shares, totaling 250,134,133.50 RMB for the year 2013, which represents 42.44% of the net profit attributable to shareholders[112]. - The total share capital increased from 1,310,095,749 shares to 1,667,560,890 shares after a rights issue, with 357,465,141 shares issued at a price of CNY 9.98 per share[140]. Assets and Liabilities - The company's total assets as of the end of 2013 were ¥29,699,205,136.95, a 12.55% increase from ¥26,386,674,366.51 in 2012[30]. - Total liabilities increased to CNY 18,046,510,188.91 from CNY 16,148,683,401.98, representing a growth of approximately 11.7% year-over-year[196]. - Current liabilities decreased to CNY 8,767,994,861.72 from CNY 10,680,430,270.72, a reduction of about 17%[196]. - Long-term borrowings rose to CNY 6,540,071,600.58 from CNY 4,848,459,521.68, indicating an increase of approximately 34.9%[196]. - The company's retained earnings increased to CNY 1,248,930,104.68 from CNY 943,718,316.96, reflecting a growth of about 32.3%[196]. Production and Operations - The company completed a total production of 195,400 tons of lead and zinc, with specific outputs of 90,280 tons of zinc, 35,250 tons of zinc alloy, and 69,860 tons of lead[39]. - The company faced a 0.46% decline in lead and zinc production compared to the previous year due to project delays and maintenance[46]. - The company’s mining production and operations met all target tasks, despite delays in the 160,000-ton lead-zinc smelting project[64]. Market and Risk Management - The company plans to enhance market analysis capabilities and utilize hedging tools to mitigate market risks associated with lead and zinc product price fluctuations[11]. - The company is actively conducting market research to manage risks associated with its significant trading volume in basic metal products, which are subject to price volatility[16]. - The company faces risks related to price fluctuations of lead and zinc products, which directly impact profit levels[100]. Environmental and Safety Management - Environmental protection measures are being strengthened in response to stricter national regulations, which may increase operational costs[15]. - The company is focused on improving safety management systems to prevent production accidents, which are prevalent in the mining and metallurgy industry[13]. - The company reported zero environmental accidents in 2013, reflecting effective control over environmental risks[111]. - The company plans to enhance its environmental risk management by establishing strict regulations on pollutant emissions and increasing investment in environmental protection facilities[104]. International Expansion and Acquisitions - The company has acquired 51% equity in Bolivia D Copper Mine and 51% equity in Bolivia Yangfan Mining Co., indicating a strategic move towards international expansion[116]. - The company completed the acquisition of 100% equity in Selwyn Chihong Mining Ltd. by acquiring the 50% stake from Selwyn Resources Ltd.[77]. - The company has acquired multiple mining sites in regions such as Yunnan, Tibet, and Canada, enhancing its resource advantages with high-grade lead-zinc reserves[73]. Governance and Management - The company has a structured management team with specific roles in finance, engineering, and strategic development, ensuring a comprehensive approach to governance[156]. - The total compensation for the current board members and senior management during the reporting period amounted to 424.92 million CNY, with an additional 166.45 million CNY received from shareholder units[151]. - The company has not faced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[133]. Employee and Training Programs - The company has a total workforce of 12,124 employees, with 7,136 in production, 1,030 in technical roles, and 153 in sales[165]. - The company has established a training program aimed at improving organizational quality and developing internal training resources[166]. - The company has a strategy for talent development through its training academy, aiming to foster a learning organization[166].