2023 年第一季度报告 单位：元 币种：人民币 证券代码：600549 证券简称：厦门钨业 厦门钨业股份有限公司 2023 年第一季度报告 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法律责任。 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。 公司负责人黄长庚、主管会计工作负责人钟炳贤及会计机构负责人（会计主管人员）林浩保证季 度报告中财务信息的真实、准确、完整。 第一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 | --- | --- | --- | |-----------------------------------------------|------------------|-------------------------------------| | 项目 | 本报告期 | 本报告期比上年同期增 减变动幅度 (%) | | 营业收入 | 8,561,654,015 ...

Dividend Distribution - The company plans to distribute a cash dividend of 3.50 yuan per 10 shares, totaling 496,460,720.00 yuan based on the total share capital of 1,418,459,200 shares as of the 2022 annual report disclosure date[2] - The company's 2022 annual profit distribution plan has been approved by the 25th meeting of the 9th Board of Directors and is subject to approval by the shareholders' meeting[2] Risk Management and Governance - The company has issued a risk warning regarding forward-looking statements, indicating that future plans and development strategies do not constitute a substantive commitment to investors[2] - The company has confirmed that there is no non-operational occupation of funds by controlling shareholders or other related parties, and no violation of decision-making procedures in providing external guarantees[2] - The company has detailed risk factors in the "Management Discussion and Analysis" section of the annual report, specifically in the "Discussion and Analysis of Future Development" subsection[2] - The company has established a comprehensive governance structure, including the formulation and revision of various internal control systems, to ensure compliance with legal and regulatory requirements[130] - The company maintains independence in business, assets, personnel, organization, and finance, with no conflicts of interest or asset misappropriation by the controlling shareholder[131] - The controlling shareholder, Fujian Rare Earth Group, has made long-term commitments to avoid competition with the company, ensuring fair market practices and protecting the company's interests[131] Financial Performance - Revenue for 2022 reached 48.22 billion yuan, a year-on-year increase of 51.40%[14] - Net profit attributable to shareholders in 2022 was 1.45 billion yuan, up 22.68% compared to the previous year[14] - Operating cash flow for 2022 was -360.43 million yuan, a significant decrease of 134.64% year-on-year[14] - Total assets at the end of 2022 amounted to 39.80 billion yuan, an increase of 20.96% compared to the end of 2021[14] - Basic earnings per share for 2022 were 1.0285 yuan, up 22.67% year-on-year[15] - Weighted average return on equity (ROE) for 2022 was 15.04%, an increase of 1.20 percentage points compared to 2021[15] - Government subsidies received in 2022 totaled 315.91 million yuan, up 46.52% from 2021[19] - Non-recurring gains and losses in 2022 amounted to 210.41 million yuan, an increase of 41.38% compared to 2021[20] - The fair value of trading financial assets increased from 200,542,222.22 RMB to 450,225,555.56 RMB, with a change of 249,683,333.34 RMB, impacting the current profit by 1,983,020.77 RMB[21] - The total fair value of financial assets increased from 1,371,013,364.52 RMB to 2,485,101,644.29 RMB, with a change of 1,114,088,279.77 RMB, impacting the current profit by 1,711,144.95 RMB[21] - Company achieved consolidated revenue of 48.22 billion yuan, a year-on-year increase of 51.54%, and net profit attributable to shareholders of 1.45 billion yuan, a year-on-year increase of 22.68%[64] - Total assets at the end of 2022 reached 39.80 billion yuan, a year-on-year increase of 20.96%, while equity attributable to parent company owners was 9.99 billion yuan, up 7.57% year-on-year[64] - R&D expenses increased by 35.52% to 1.73 billion yuan, driven by increased investment from subsidiaries[65] - Revenue from battery materials surged by 80.28% to 28.60 billion yuan, accounting for the largest share of total revenue[68] - Tungsten and molybdenum business revenue grew by 18.82% to 12.63 billion yuan, with a gross margin of 24.70%[68] - Rare earth business revenue increased by 25.57% to 5.90 billion yuan, with a gross margin of 11.57%[68] - Domestic revenue accounted for 41.57 billion yuan, a year-on-year increase of 54.75%, while export revenue grew by 27.51% to 5.65 billion yuan[68] - Operating cash flow turned negative at -360.43 million yuan, a significant decline of 134.64% year-on-year, due to increased working capital usage[65] - Investment cash flow decreased by 27.45% to -1.95 billion yuan, driven by increased fixed asset and equity investments[65] - Financing cash flow increased by 225.56% to 2,887,101,886.04 yuan due to increased funding needs for operations and investments[83] - Other income increased by 43.56% to 308,659,977.79 yuan, mainly due to increased government subsidies[85] - Investment income decreased by 131.63% to -29,356,897.40 yuan due to reduced income from associated enterprises[85] - Cash and cash equivalents increased by 40.06% to 2,171,831,871.37 yuan, accounting for 5.46% of total assets, primarily due to unused funds from subsidiary XTC New Energy's refinancing[86] - Accounts receivable rose by 46.15% to 7,455,051,766.27 yuan, representing 18.73% of total assets, driven by increased revenue[86] - Prepaid expenses surged by 155.48% to 504,485,763.98 yuan, mainly due to increased prepayments for raw material purchases by subsidiaries[86] - Contract liabilities grew by 295.12% to 546,384,688.43 yuan, reflecting increased performance obligations for goods delivery[87] - Long-term loans increased by 51.52% to 5,326,884,364.47 yuan, as the company secured more bank loans with maturities exceeding one year[87] - Bonds payable rose by 269.79% to 2,244,060,474.87 yuan due to the issuance of new medium-term notes[87] - Overseas assets totaled 540,175,485.76 yuan, accounting for 1.36% of total assets[88] - Restricted assets included 14,483,752.26 yuan in cash (as collateral) and 56,923,949.43 yuan in investment properties (as mortgage loans)[89] Business Segments Performance - The company completed the acquisition of Baise County Judian Mining Co., Ltd. in January 2022, which was included in the consolidated financial statements[16] - Revenue in the second quarter of 2022 was the highest at 13.65 billion yuan, accounting for 28.31% of the annual revenue[18] - The company achieved consolidated operating income of 48.223 billion yuan, a year-on-year increase of 51.40%, and a net profit attributable to the parent company of 1.446 billion yuan, a year-on-year increase of 22.68%[31] - The tungsten and molybdenum business achieved operating income of 13.16 billion yuan, a year-on-year increase of 20.09%, and a profit of 1.451 billion yuan, a year-on-year increase of 3.69%[31] - The rare earth business achieved operating income of 6.14 billion yuan, a year-on-year increase of 27.81%, and a profit of 317 million yuan, a year-on-year increase of 38.63%[35] - The energy new materials business achieved operating income of 28.742 billion yuan, a year-on-year increase of 80.52%, and a profit of 1.241 billion yuan, a year-on-year increase of 95.03%[37] - The real estate business achieved operating income of 180 million yuan, a year-on-year increase of 7.12%, but incurred a loss of 437 million yuan, an increase of 109 million yuan year-on-year[40] - APT production decreased by 19.29% to 24,036 tons, while sales decreased by 24.65% to 6,838 tons[69] - Molybdenum powder production increased by 6.92% to 2,645 tons, with sales up 15.85% to 1,934 tons[69] - Molybdenum ammonium production surged by 26.75% to 14,858 tons, with sales skyrocketing 66.41% to 10,781 tons[69] - Fine tungsten wire production soared by 219.05% to 300 million meters, with sales up 202.89% to 272 million meters[69] - Ternary materials production increased by 79.99% to 47,718 tons, with sales up 71.32% to 46,402 tons[69] - Battery materials business costs surged by 82.38% to 26.17 billion yuan, driven by an 85.36% increase in raw material costs[71] - Top five customers accounted for 52.41% of total annual sales, amounting to 2.53 billion yuan[75] - The company acquired 100% equity of Baise County Judian Mining Co., Ltd. for 301 million yuan, completed in January 2022[74] - The top five suppliers accounted for 1,600,764.72 million yuan in procurement, representing 34.86% of the total annual procurement[76] - Sales expenses increased by 10.78% to 339,400,435.28 yuan due to the rise in sales scale[77] - R&D expenses increased by 35.52% to 1,728,939,408.23 yuan, driven by increased investment from subsidiaries[78] - Total R&D investment for 2022 was 1.729 billion yuan, accounting for 3.59% of total revenue[79] - The company has 1,724 R&D personnel, making up 10.83% of the total workforce[80] Market and Industry Trends - The average price of domestic black tungsten concentrate (65% WO3) in 2022 was 113,800 RMB/ton, a year-on-year increase of 10.93%[23] - The total domestic tungsten consumption in 2022 was 63,309 metal tons, a year-on-year decrease of 2.18%[25] - The export volume of tungsten in 2022 was 25,000 metal tons, a year-on-year increase of 3.15%[23] - The average price of praseodymium-neodymium oxide in 2022 was 825,300 RMB/ton, a year-on-year increase of 38.40%[27] - The production of silicon wafers in China in 2022 was 357 GW, a year-on-year increase of 57.5%[24] - The average price of lithium carbonate 99% min in 2022 was 466,400 RMB/ton, a year-on-year increase of 299.24%[28] - The total domestic rare earth mining control quota in 2022 was 210,000 tons, a year-on-year increase of 25%[27] - The production of photovoltaic modules in China in 2022 was 288.7 GW, a year-on-year increase of 58.8%[24] - Domestic ternary material production reached 602,300 tons, a year-on-year increase of 51.3%, while global ternary material production reached 993,300 tons, a year-on-year increase of 36.1%[30] - Domestic new energy vehicle production and sales reached 7.058 million and 6.887 million units, respectively, with year-on-year growth rates of 96.9% and 93.4%, and a market share of 25.6%[30] - Domestic cobalt lithium production was 77,000 tons, a year-on-year decrease of 16%, with a global market share of 91.7%, an increase of 1.5% year-on-year[30] - The first batch of rare earth mining quotas for 2022 was set at 100,800 tons, with light rare earths accounting for 89,310 tons and medium-heavy rare earths at 11,490 tons[90] - Fujian Province aims to achieve over 20,000 new energy vehicle sales and a production value of 100 billion yuan by 2025, with a total industry chain value exceeding 600 billion yuan[90] - Unit energy consumption per unit of added value decreased by 13.5% compared to 2020, with a target to increase the proportion of high-efficiency energy-saving motors to over 70% by 2025[92] - The total control index for tungsten concentrate mining in 2022 was 109,000 tons, with primary mining accounting for 81,170 tons and comprehensive utilization for 27,830 tons[92] - The second batch of rare earth mining and smelting separation control indices for 2022 were 109,200 tons and 104,800 tons respectively, an increase of 8.33% and 7.82% compared to the first batch[92] - The total rare earth mining and smelting separation control indices for 2022 increased by 25.00% and 24.69% respectively compared to 2021[92] - The "Implementation Plan for Science and Technology to Support Carbon Peaking and Carbon Neutrality (2022-2030)" aims for significant breakthroughs in key technologies such as power batteries and drive motors by 2030[92] - The "Encouraged Foreign Investment Industry Catalog (2022 Edition)" includes 1,474 entries, an increase of 239 from the 2020 edition, with specific additions in the rare earth sector[93] - The "Carbon Peaking Implementation Plan for the Nonferrous Metals Industry" targets a recycled metal supply ratio of over 24% during the 14th Five-Year Plan period[93] - Tungsten concentrate mining control index in 2022 was 109,000 metric tons, a year-on-year increase of 0.93%[113] - Overseas tungsten production capacity is expected to increase by 1,500 tons in 2023 and 3,500 tons in 2024[113] - Domestic tungsten consumption is expected to reach 54,000 tons in 2023 and 56,000 tons in 2024[113] - The first batch of rare earth mining and smelting separation control indicators for 2023 are 120,000 tons and 115,000 tons, respectively, with light rare earth ore products increasing by 22.1% and heavy rare earth ore products decreasing by 4.8% compared to 2022[115] - NdFeB production is expected to reach 220,000-240,000 tons in 2023[115] - Global new energy vehicle sales are projected to reach 25.42 million units in 2025 and 52.12 million units in 2030, with a penetration rate exceeding 50%[116] - Global lithium-ion battery shipments are expected to grow at a compound annual growth rate of 25.6% until 2030, reaching nearly 5TWh[116] Strategic Initiatives and Future Plans - The company launched a 20,000-ton rare earth secondary resource recycling project and increased the recycling of tungsten and battery materials[41] - The company established 2 automated demonstration lines and 1 digital demonstration factory, and carried out over 200 improvement projects throughout the year[41] - Optimized product portfolio and customer structure, enhancing market share in ternary materials and maintaining global leadership in cathode materials[43] - Established "Three Merchants" management guidelines and expanded CRM pilot to improve adaptability and standardization of dealers, agents, and service providers[43] - Developed group technology development plans, focusing on tungsten-molybdenum, rare earth, and energy new materials, with key projects like high-strength tungsten wire for photovoltaic applications achieving mass production[43] - Strengthened market-oriented R&D, achieving full coverage of IPD pilot projects and optimizing IPD evaluation and talent development systems[43] - Implemented ERP system upgrades and initiated digital transformation of financial management reports to enhance financial data traceability and standardization[44] - Improved talent evaluation and training systems, focusing on high-potential talents in marketing, technology, and leadership programs[45] - Enhanced product division management mechanisms, optimizing organizational design and authority allocation across subsidiaries[45] - Key projects in the tungsten-molybdenum sector, including the Ninghua Xingluokeng Tungsten Mine and the Duchang Jinding Crushing System, are progressing with planned expansions and new production lines[46] - The Xiamen Jinlu Hard Alloy Industrial Park project is advancing with new production lines for tungsten powder and RTP mixed materials, expected to be completed by 2024[46] - The Thailand Jinlu Hard Alloy Production Base Phase II project is in the design phase, with completion expected by the second half of 2025[46] - The company's Chengdu Dingtai New Materials project has completed the main construction and started production, with the old production line being relocated and expected to start production in the new factory area in 2023[47] - The company's Xiamen Tungsten Korea Tungsten Oxide Production Base project is in the preparatory stage and is expected to be completed in the first half of 2024[47] - The company's Changting Jinlong High-Performance Rare Earth Magnetic Materials project has gradually started production, with an additional 5,000 tons of high-performance rare earth magnetic materials for energy-saving motors expected to be completed in the second half of 2024[47] - The company's Xiamen Tungsten New Energy Haijing Base project has completed the entire process of public bidding and EPC general contracting bidding, with work progressing as planned[47] - The company's Xiamen Tungsten New Energy Ningde Base project has completed the preliminary design process, with the C and D production workshops expected to start production in 2024 and 2025, respectively[47] - The company's Xiamen Tungsten New Energy Sichuan Yaan Lithium Iron Phosphate project has successfully ignited the solid-phase method project and is undergoing material debugging and trial production, with the first phase expected to be completed in the second half of 2023 and the second phase in the first half of 2024[47] - The company's joint venture with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. to establish Zhongse Zhengyuan (Anhui) New Energy Technology Co., Ltd. is in the preparatory stage, with work progressing as planned[48] - The company's rare earth secondary resource recycling project in Changting Jinlong is in the preparatory stage and is expected to be completed in the first half of 2024[47] - The company's joint venture with Chifeng Gold to establish Chijin Xiam