西藏华钰矿业股份有限公司 2021 年第三季度报告 证券代码：601020 证券简称：ST 华钰 债券代码：113027 债券简称：华钰转债 西藏华钰矿业股份有限公司 2021 年第三季度报告 二零二一年十月 1 / 14 西藏华钰矿业股份有限公司 2021 年第三季度报告 单位：元 币种：人民币 2 / 14 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 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|------------------ ...

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 850 million, representing a year-on-year growth of 25%[16]. - The net profit attributable to shareholders for the first half of 2021 was RMB 150 million, an increase of 30% compared to the same period last year[16]. - The company's operating revenue for the first half of 2021 was ¥584,251,889.27, a decrease of 57.73% compared to the same period last year[21]. - Net profit attributable to shareholders was ¥71,503,735.23, an increase of 225.31% year-on-year[21]. - The basic earnings per share for the first half of 2021 was ¥0.129, representing a 222.50% increase from ¥0.04 in the same period last year[22]. - Future guidance estimates a revenue target of RMB 1.8 billion for the full year 2021, reflecting a growth rate of 20%[16]. User Growth and Market Expansion - User data indicates a growth in active users, with the number of registered users increasing by 15% to 1.2 million[16]. - The company plans to expand its market presence by entering two new provinces by the end of 2021, aiming for a 20% increase in market share[16]. Product Development and Investment - New product development includes the launch of a high-grade mineral product line, expected to contribute an additional RMB 50 million in revenue by Q4 2021[16]. - The company has allocated RMB 100 million for research and development in new technologies aimed at improving mining efficiency[16]. - The company is actively seeking investment opportunities in mining projects both domestically and internationally, focusing on precious and non-ferrous metals[31]. Resource Reserves and Production - The company controls domestic resource reserves of lead, zinc, copper, antimony, and silver at 656,800 tons, 1,053,500 tons, 25,000 tons, 139,400 tons, and 1,429.52 tons respectively[42]. - The company has overseas resource reserves of antimony and gold at 264,600 tons and 499,000 tons respectively, which are registered with the Tajikistan National Resource Reserve Committee[42]. - The company’s gold resource reserves from acquisitions reached 68.615 tons, enhancing its production capacity as projects commence[42]. - The actual ore output for the first half of 2021 was 237,200 tons, achieving 38.30% of the planned 620,000 tons[54]. - The actual mineral processing volume for the first half of 2021 was 237,700 tons, achieving 38.35% of the planned 620,000 tons[54]. Financial Position and Cash Flow - The company maintains a strong cash position with cash reserves of RMB 200 million, ensuring liquidity for ongoing operations and investments[16]. - The net cash flow from operating activities was ¥121,403,131.11, down 70.61% compared to the previous year[21]. - The company has completed a financing of 55 million yuan from the Construction Bank in the first half of 2021[68]. Risk Factors and Compliance - Risk factors include potential regulatory changes and market volatility, which could impact future performance[16]. - The company faces risks from price fluctuations in non-ferrous metals, which significantly impact profitability, and is actively engaging in futures hedging to mitigate these risks[102]. - The company has been publicly reprimanded by the Shanghai Stock Exchange for its controlling shareholder's judicial auction of shares, emphasizing the need for compliance and timely disclosure[167]. Environmental Responsibility - The company achieved a significant milestone in environmental protection, with all waste gas, noise, and wastewater meeting discharge standards in 2021[120]. - The company has implemented a comprehensive wastewater treatment system, ensuring that all production wastewater is recycled and reused in the mining process[121]. - The company has maintained a zero record for significant environmental accidents, demonstrating its commitment to safety and environmental responsibility[121]. Corporate Governance and Management - The company has elected Liu Liankun as the new chairman of the board following the resignation of Liu Jianjun, effective from May 26, 2021[110]. - The company held two shareholder meetings during the reporting period, ensuring equal rights for all shareholders, particularly minority shareholders[109]. - The company is committed to ensuring accurate and complete information disclosure to protect investor interests[167]. Related Party Transactions - The company reported a total of 31,917.66 million RMB in related party transactions for the year 2020, with significant contributions from sales of zinc and lead-antimony concentrates[175]. - The company identified issues with related party transactions involving Tibet Kaiheng and Tibet Chengkang, which were not timely recognized and disclosed, leading to a negative audit opinion for the 2020 financial internal control audit report[150].

Financial Performance - The company's operating revenue for 2020 was CNY 2,378,942,506.55, representing a 56.58% increase compared to CNY 1,519,274,646.32 in 2019[25]. - The net profit attributable to shareholders for 2020 was CNY 72,380,454.50, a decrease of 42.16% from CNY 125,149,564.34 in 2019[25]. - The net cash flow from operating activities increased by 26.58% to CNY 543,397,713.82 in 2020, up from CNY 429,302,111.50 in 2019[27]. - The total assets at the end of 2020 were CNY 4,914,793,515.33, an 8.30% increase from CNY 4,538,015,773.36 at the end of 2019[27]. - The basic earnings per share for 2020 was CNY 0.14, down 41.67% from CNY 0.24 in 2019[27]. - The weighted average return on equity for 2020 was 3.16%, a decrease of 1.47 percentage points from 4.63% in 2019[27]. - The company reported a non-operating income of CNY 9,275,982.39 in 2020, related to government subsidies[30]. - The net profit after deducting non-recurring gains and losses for 2020 was CNY 68,966,288.87, a decrease of 39.21% from CNY 113,454,605.59 in 2019[27]. - The company achieved a sales revenue of CNY 2.378 billion in 2020, representing a year-on-year increase of 56.58%[95]. - The net profit attributable to shareholders decreased by 42.16% to CNY 0.72 billion, while the overall net profit dropped by 56.02% to CNY 0.47 billion[95]. Investments and Acquisitions - The acquisition of 40% equity in Guizhou Asia-Pacific Mining Co., Ltd. was valued at 125 million RMB, with the transaction price set at 50 million RMB[37]. - The Asia-Pacific Mining project has gold reserves of 59.14 tons, aimed at enhancing the company's gold resource reserves and overall profitability[38]. - The company completed the acquisition of 70% equity in Tigray Resources Private Limited for 1.2 million USD, which holds gold reserves of 9.475 tons[41]. - The company successfully acquired a 40% stake in Guizhou Apac Mining for a transaction value of 500 million CNY, enhancing its gold resource reserves by 59.14 tons[134]. - The company is actively expanding its precious metals sector through acquisitions, including the "Ethiopian Gold Project" and the "Guizhou Asia-Pacific Mining Co., Ltd. Niubao Gold Mine Project"[181]. Operational Highlights - The actual ore output in 2020 was 613,000 tons, achieving 94.31% of the planned 650,000 tons, while the actual selection output was 610,700 tons, achieving 93.95% of the planned[65]. - Fixed asset investment in Tibet for 2020 totaled 96.19 million yuan, with significant investments in shaft engineering and infrastructure projects[66]. - The company completed the construction of a 30-kilometer 110KV high-voltage power supply line and two substations for the Talu Jinye project in 2020[69]. - The mining system engineering plan aimed to excavate 28,995 meters, with 26,353 meters completed by the end of 2020, achieving 91% of the target[72]. - The company aims to complete a mining output of 620,000 tons and a selection output of 620,000 tons in the Tibet region for 2021[161]. Market and Industry Trends - The zinc price increased by over 20% year-on-year, recovering from a low of 14,265 RMB/ton to exceed the initial price by year-end[46]. - In 2020, domestic lead consumption increased by 0.8% year-on-year, reaching 4.977 million tons, supported by strong growth in lead-acid batteries and electric bicycles[47]. - Antimony ingot prices rose from $5,750-$6,100 per ton in January to a peak of $6,675-$6,950 per ton in December, marking a 15.0% increase from January[49]. - Gold prices surged to a historical high of $2,075.14 per ounce in August 2020, with an annual increase of 25.07%, and the average price for the year was $1,769.59 per ounce, up 27.07% year-on-year[50]. - The company expects continued high volatility in the non-ferrous metals market due to increased demand from new infrastructure and renewable energy sectors[150]. Corporate Governance and Compliance - The audit report from Lixin Certified Public Accountants indicated a qualified opinion, but the financial statements fairly reflect the company's financial position as of December 31, 2020[6]. - The company has not experienced any non-operational fund occupation by controlling shareholders or related parties[10]. - The company has not disclosed any significant changes in shareholder structure or stock variations during the reporting period[13]. - The company has not faced any risks of suspension or termination of its listing status during the reporting period[198]. - There are no significant accounting policy changes or major accounting errors reported during the period[198]. Research and Development - The company reported a significant increase in R&D expenses, which rose by 178.17% to CNY 3.67 million, reflecting a focus on innovation[96]. - The total R&D investment amounted to CNY 4,346,677.30, representing 0.18% of total revenue, with 15 R&D personnel accounting for 3.59% of the total workforce[112]. Social Responsibility and Community Engagement - The company’s charity foundation has donated over CNY 3 million to support social welfare initiatives, demonstrating its commitment to corporate social responsibility[94]. - The company is committed to improving safety management and environmental protection measures to mitigate operational risks[173][174]. Future Outlook and Strategic Plans - The company anticipates a significant rebound in China's economy, projecting an 8.1% growth in 2021, which will positively impact global economic recovery[149]. - The company plans to non-publicly issue 150,000,000 shares, raising up to RMB 680 million to support the expansion into the precious metals sector and alleviate operational funding pressure[165]. - The company is focused on integrating resource development with capital operations to establish itself as a benchmark enterprise in the domestic non-ferrous industry[151]. - The company is leveraging the "Belt and Road" initiative to enhance cooperation in mineral resources and technology with countries along the route, particularly in Central Asia and Africa[153]. Risk Management - The company faces risks related to price fluctuations of non-ferrous metals, which significantly impact profitability[171]. - The company has not distributed dividends in the last three years, maintaining a cash dividend policy of at least 20% of distributable profits when no major investments are planned[178].

西藏华钰矿业股份有限公司 2021 年第一季度报告 公司代码：601020 公司简称：华钰矿业 债券代码：113027 债券简称：华钰转债 转股代码：191027 转股简称：华钰转股 西藏华钰矿业股份有限公司 2021 年第一季度报告 二零二一年四月 1 / 19 R W & E RU MI 目录 重要提示 . 一、 二、 公司基本情况 . 重要事项 . IIÍ 四、 附录 . 西藏华钰矿业股份有限公司 2021 年第一季度报告 2 / 19 西藏华钰矿业股份有限公司 2021 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人刘建军、主管会计工作负责人邢建军及会计机构负责人（会计主管人员）刘志霞 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |----- ...

Financial Performance - Operating income for the period from January to September was CNY 1,810,250,210.27, representing a significant increase of 176.08% compared to the same period last year[19]. - Net profit attributable to shareholders of the listed company was CNY 60,367,503.03, a decrease of 19.35% year-on-year[19]. - Basic earnings per share for the period was CNY 0.12, down 14.29% from the previous year[21]. - The weighted average return on net assets was 2.72%, a decrease of 0.97 percentage points compared to the previous year[21]. - The company reported a net loss from investment income of ¥1,176,697.17 in Q3 2020, an improvement from a loss of ¥2,482,484.18 in Q3 2019[43]. - Net profit for Q3 2020 reached approximately ¥7.04 million, compared to ¥33.72 million in Q3 2019, indicating a significant decrease of approximately 79.1%[49]. - The total profit for Q3 2020 was approximately ¥7.04 million, down from ¥38.52 million in Q3 2019, reflecting a decline of about 81.7%[49]. - Operating profit for Q3 2020 was approximately ¥7.34 million, a decrease from ¥38.61 million in Q3 2019, representing a decline of about 81.0%[49]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 4,884,464,812.75, an increase of 7.63% compared to the end of the previous year[19]. - The company's total liabilities decreased by 70.85% to RMB 15,200.00 million, mainly from loan repayments[30]. - Total liabilities decreased slightly to CNY 1,703,337,948.26 from CNY 1,717,475,504.54, a reduction of about 0.8%[35]. - Current liabilities increased to ¥1,283,167,520.63 from ¥1,024,233,275.77, representing a rise of approximately 25.3%[39]. - The company's total liabilities reached ¥1,822,910,934.17, compared to ¥1,645,303,112.52 in the previous year, indicating an increase of about 10.8%[39]. - The total current assets were reported at CNY 104,140,401.22, reflecting the company's liquidity position[62]. Cash Flow - Net cash flow from operating activities for the period reached CNY 548,165,776.81, a remarkable increase of 438.90% compared to the same period last year[19]. - Cash inflow from operating activities for the first three quarters of 2020 was CNY 2,476,191,176.44, significantly up from CNY 884,836,791.02 in the same period of 2019, representing an increase of approximately 179%[52]. - The net cash flow from operating activities for the first three quarters of 2020 was CNY 548,165,776.81, a turnaround from a net outflow of CNY 161,748,052.19 in the same period of 2019[52]. - Cash outflow from investing activities for the first three quarters of 2020 was CNY 456,245,428.90, compared to CNY 476,796,642.92 in the same period of 2019[53]. - The net cash flow from financing activities for the first three quarters of 2020 was -CNY 137,816,351.00, a decrease from a net inflow of CNY 506,414,755.34 in the same period of 2019[53]. Shareholder Information - Net assets attributable to shareholders of the listed company amounted to CNY 2,498,623,479.26, reflecting a growth of 14.19% year-on-year[19]. - The total number of shareholders at the end of the reporting period was 35,843[24]. - The largest shareholder, Tibet Daoheng Investment Co., Ltd., held 34.78% of the shares, with 193,052,921 shares pledged[24]. - Shareholders' equity rose to CNY 3,181,126,864.49, up from CNY 2,820,540,268.82, indicating an increase of approximately 12.8%[36]. Operational Efficiency - Accounts receivable decreased by 74.88% to RMB 6,969.19 million, attributed to enhanced collection efforts and reduced sales credit limits[27]. - Long-term equity investments surged by 395.62% to RMB 29,741.10 million, primarily due to the acquisition of Asia Pacific Mining[30]. - The gross profit margin improved significantly due to increased trade volume, reflecting a robust business expansion strategy[30]. - The company reported a 270.08% rise in operating costs, reaching RMB 163,116.94 million, driven by the same increase in trade volume[30]. - Financial expenses rose by 49.92% to RMB 3,360.40 million, mainly due to increased convertible bond interest[30]. Changes in Accounting Standards - The company has executed a new revenue recognition standard, leading to a reclassification of contract liabilities[30]. - The company executed new revenue standards on January 1, 2020, affecting the classification of contract liabilities and other current liabilities[63].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,382,044,362.14, representing a 490.77% increase compared to CNY 233,941,023.57 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was CNY 21,979,950.43, a decrease of 43.72% from CNY 39,055,881.67 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 18,278,191.98, a decrease of 22.99% compared to the previous year[24]. - The net cash flow from operating activities was CNY 413,074,762.24, showing a significant increase from a negative cash flow of CNY -30,535,076.24 in the previous year[24]. - The total assets increased by 4.94% to CNY 4,762,109,359.40 compared to the end of the previous year[24]. - The basic earnings per share decreased by 42.86% to CNY 0.04 from CNY 0.07 in the same period last year[24]. - The weighted average return on net assets decreased by 0.94 percentage points to 1.00% compared to the previous year[24]. - Operating costs amounted to ¥1,299,541,684.05, reflecting a 941.47% increase year-on-year[85]. - The company reported a total of ¥860.64 million in government subsidies, contributing to a profit increase of ¥1,433.54 million, which accounted for 56.16% of the total profit[89]. Corporate Governance - The company has confirmed that all directors attended the board meeting for the report[5]. - The company has not faced any violations in decision-making procedures for providing guarantees[8]. - The controlling shareholder, Daoheng Investment, has committed not to interfere in the company's management and not to infringe on the company's interests[120]. - The company has made commitments to avoid competition with peers and to regulate related party transactions[123]. - During the reporting period, the company held two shareholder meetings, ensuring equal rights for all shareholders, particularly minority shareholders[115]. Risk Management - The report includes a risk statement regarding forward-looking statements, indicating potential risks in future plans and development strategies[7]. - The company faces risks related to product price fluctuations, particularly in non-ferrous metals, which significantly impact profitability due to global economic and political factors[107]. - The company emphasizes strict safety production management to mitigate risks associated with mining operations, which are inherently high-risk[109]. - Environmental pollution risks are managed through the establishment of waste treatment systems and environmental assessment systems to ensure compliance with national requirements[110]. Strategic Initiatives - The company signed a strategic cooperation agreement with China Minmetals Rare Earth Group to establish a joint venture for antimony products, enhancing its market position[33]. - The company plans to continue seeking mining project investment opportunities domestically and internationally, focusing on precious and non-ferrous metals[38]. - The company aims to enhance its international presence and reputation by aligning with the "Belt and Road" initiative, focusing on resource and technology cooperation in Central Asia[37]. - The company is focused on building a professional talent team to manage the challenges of expanding operational scale and geographic distribution[108]. Environmental Compliance - The company has implemented effective environmental protection measures, achieving compliance with emission standards for waste gas, noise, and wastewater[190]. - The company has established a comprehensive pollution prevention and control system, including wastewater treatment facilities and dust suppression measures[190]. - The company conducts quarterly environmental monitoring of surface water, groundwater, and air quality, with results meeting national standards[200]. Acquisitions and Investments - The company completed the transfer of 19% equity in Guizhou Asia-Pacific Mining Co., Ltd., with a total valuation of CNY 125 million for the entire equity[34]. - The company acquired a 50% stake in Tajik Aluminum's "Talu Mining" for $90 million, with an annual processing capacity of 1.5 million tons and production of 16,000 tons of antimony and 2.2 tons of gold post-launch[37]. - The company completed the acquisition of Tigre Resources in Ethiopia for $1.2 million, which holds mining rights with gold reserves of 9.475 tons, currently in the construction phase[37]. - The company acquired a 40% stake in Guizhou Asia-Pacific Mining for 500 million yuan, adding 59.14 tons of gold resources[73]. Community Engagement - The company contributed a total of 909.28 million RMB towards poverty alleviation efforts, helping 2,100 registered impoverished individuals to escape poverty[171]. - The "transportation team" initiative resulted in a revenue of 9,075,800.18 RMB for local farmers, increasing their annual income to over 8,000 RMB, a 20-fold increase[170]. - The company plans to continue supporting local impoverished households through material and employment assistance[176]. - The company is committed to using its charitable foundation to conduct various public welfare activities, including disaster relief and education support[176]. Legal Matters - There are significant litigation matters involving the company, specifically a civil lawsuit against Linzhou County Jiangxia Township Caisheng Mining Co., Ltd. regarding a 10 million RMB deposit related to an asset acquisition agreement[133]. - The court ruled that Linzhou County Jiangxia Township Caisheng Mining Co., Ltd. must repay the 10 million RMB deposit and an additional 3 million RMB in penalties within 30 days of the judgment[139]. Financial Instruments - The company plans to issue up to RMB 410 million in convertible bonds, which was approved by the board in December 2019[200]. - The company has decided to terminate the public offering of convertible bonds and instead plans to privately issue up to 150 million shares[200].

Financial Performance - The company's operating revenue for 2019 was CNY 1,519,274,646.32, representing a 32.69% increase compared to CNY 1,144,988,699.50 in 2018[23]. - The net profit attributable to shareholders for 2019 was CNY 125,149,564.34, a decrease of 44.28% from CNY 224,609,903.77 in 2018[23]. - The net cash flow from operating activities for 2019 was CNY 429,302,111.50, reflecting a 10.65% increase from CNY 387,967,924.18 in 2018[23]. - The total assets at the end of 2019 were CNY 4,538,015,773.36, a 16.49% increase from CNY 3,895,675,113.63 at the end of 2018[24]. - The basic earnings per share for 2019 was CNY 0.24, down 44.19% from CNY 0.43 in 2018[25]. - The weighted average return on equity for 2019 was 4.63%, a decrease of 7.07 percentage points from 11.70% in 2018[25]. - The net assets attributable to shareholders at the end of 2019 were CNY 2,188,039,775.05, a 9.98% increase from CNY 1,989,539,226.25 at the end of 2018[24]. - The consolidated net profit was 107 million yuan, a decrease of 50.70% year-on-year, with the net profit attributable to shareholders declining by 44.28% to 125 million yuan[94]. Strategic Developments - The company plans to not distribute cash dividends or bonus shares for the year 2019, with retained earnings to be reinvested in core business development[5]. - The company has outlined potential risks in its future development strategy, which are detailed in the report[7]. - The company’s future plans and strategic developments are subject to investment risks, as highlighted in the forward-looking statements[6]. - The company plans to acquire 100% equity of Yunnan Shanhai Industrial Co., Ltd. and Lhasa Pinzhi Co., Ltd. through framework agreements signed on April 2, 2018[34]. - The estimated price for acquiring 40% equity of Guizhou Asia-Pacific Mining Co., Ltd. is approximately 776.82 million RMB, based on a pre-evaluation price of 1.94206 billion RMB[35]. - The total assessed value of Asia-Pacific Mining's equity is 1.8434245 billion RMB, with the final transaction price agreed at 1.25 billion RMB for the 40% equity transfer[35]. - A strategic cooperation agreement was signed with Minmetals Rare Earth Group on December 31, 2019, to establish a joint venture for antimony products, impacting global pricing and decision-making in the antimony industry[37]. - The company aims to strengthen cooperation in mineral resources along the Belt and Road Initiative, focusing on gold, silver, copper, lead, zinc, and antimony projects[39]. Operational Highlights - The company has two domestic production mines and two overseas mining rights projects currently under construction[33]. - The company reported non-recurring gains of CNY 11,694,958.75 for 2019, compared to CNY 18,907,018.44 in 2018[30]. - The company achieved a significant milestone in safety production, with no major accidents reported throughout the year[91]. - In 2019, the company completed a total ore output of 720,000 tons, exceeding the annual plan by 2.86%[76]. - The company conducted exploration work in three mining areas, completing 4,188.7 meters of drilling and discovering new lead-zinc ore bodies[79]. Market Conditions - In 2019, the global refined zinc production reached a historical high, with an average price of $2,506 per ton, down 13.5% from 2018[46]. - The average price of lead in 2019 was $2,004 per ton, a decrease of 10.8% year-on-year, while domestic lead prices also showed a downward trend[47]. - Antimony production from January to November 2019 was 56,300 tons, a year-on-year decrease of 14.67%, while antimony ingot prices averaged $6,632.95 per ton, down 19.2%[50][51]. - The global gold supply in 2019 was estimated at 4,800 tons, with demand reaching 4,650 tons, resulting in a surplus of 150 tons[53]. - The average international gold price in 2019 was $1,392.60 per ounce, an increase of 9.73% compared to the previous year[52]. Resource Management - The company controls domestic resource reserves of lead, zinc, copper, antimony, and silver amounting to 695,700 tons, 1,107,600 tons, 25,200 tons, 149,500 tons, and 1,587.71 tons respectively, all registered with the Ministry of Natural Resources[59]. - The overseas joint venture "Talu Aluminum Industry" has controllable resource reserves of antimony and gold reaching 264,600 tons and 499,000 tons respectively, with production expected to yield 16,000 tons of antimony concentrate and 2,200 tons of gold ingots annually[59]. - The company has increased its gold resource reserves to a total of 59.375 tons, with 49.9 tons from Talu Aluminum and 9.475 tons from the Ethiopia project[61]. - The company aims to produce 21,000 tons of antimony annually post the Talu Aluminum project, controlling nearly 15% of the global antimony supply[62]. Financial Management - The company has been recognized as an "A-level tax credit enterprise" for two consecutive years, which provides it with various financial benefits[73]. - The company reported a significant increase in financing cash flow, amounting to CNY 328,662,096.36, compared to a negative cash flow of CNY 104,691,773.60 in the previous year, marking a 413.93% change[96]. - The company issued 640 million yuan in convertible bonds to finance the acquisition of the Tal Aluminum project, with approval from the China Securities Regulatory Commission[85]. - The company is actively pursuing non-public stock issuance to attract long-term strategic investors, optimizing its equity structure[186]. Environmental and Safety Management - The company emphasizes environmental protection and safety management, aiming to create a "green mine" while adhering to national environmental regulations[71]. - The company is committed to strict safety management in mining operations to prevent accidents that could harm personnel and affect its reputation[200]. Research and Development - Total R&D investment amounted to 7.92 million RMB, accounting for 0.52% of operating revenue, with 83.33% of R&D costs capitalized[117]. - The company has established a long-term cooperation mechanism with several geological research institutions and universities to enhance its technological capabilities[69]. Future Outlook - The company anticipates zinc prices to fluctuate between $2,050 and $2,450 per ton in 2020, with domestic prices expected to range from ¥16,500 to ¥19,500 per ton[157]. - The company expects lead prices to range from $1,700 to $2,100 per ton in 2020, with domestic prices between ¥13,500 and ¥16,800 per ton[158]. - The company aims to achieve a production target of 650,000 tons for both ore extraction and beneficiation in the Tibet region in 2020[174]. - The company plans to invest a total of 80 million yuan in fixed assets for 2020, with 15 million yuan allocated for shaft projects and 65 million yuan for infrastructure[176].

Financial Performance - Operating revenue for the period reached CNY 702,262,583.18, representing an increase of 875.51% year-on-year[19]. - Net profit attributable to shareholders was CNY 2,411,106.61, a decrease of 87.08% compared to the same period last year[19]. - Basic earnings per share were CNY 0.005, down 87.50% from CNY 0.04 in the same period last year[19]. - The net profit after deducting non-recurring gains and losses was CNY 7,102,589.47, an increase of 94.68% year-on-year[19]. - The company reported a significant decline in non-operating income, dropping by 99.92% to ¥13,000.00, primarily due to the absence of government subsidies received in the previous year[26]. - Net profit for Q1 2020 was ¥969,262.17, a decrease from ¥16,153,876.10 in Q1 2019, reflecting a decline of approximately 94.0%[36]. - The company reported a gross profit margin of approximately 1.7% in Q1 2020, down from 76.5% in Q1 2019[35]. - The total comprehensive income for Q1 2020 was -21,469,138.57 RMB, compared to -11,170,939.30 RMB in Q1 2019, indicating a worsening of overall financial performance[39]. Cash Flow - Net cash flow from operating activities was CNY 31,390,241.32, an increase of 147.75% compared to the previous year[19]. - Cash flow from operating activities improved to ¥31,390,241.32, a 147.75% increase, driven by higher cash receipts from sales[26]. - In Q1 2020, the net cash flow from operating activities was ¥94,415,923.31, a significant improvement from -¥47,553,442.72 in Q1 2019[42]. - Total cash inflow from operating activities was ¥154,437,180.33, compared to ¥91,119,386.16 in the same period last year, indicating a year-over-year increase of approximately 69.5%[42]. - The net cash flow from financing activities was -¥38,236,590.56, compared to -¥3,609,875.00 in Q1 2019, indicating a significant increase in cash outflow[43]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,518,510,438.16, a decrease of 0.43% compared to the end of the previous year[19]. - Total liabilities decreased to CNY 1,709,322,239.33 from CNY 1,717,475,504.54, a reduction of approximately 0.9%[29]. - Current liabilities totaled CNY 961,675,400.80, down from CNY 1,005,284,663.87, reflecting a decrease of about 4.3%[29]. - Non-current liabilities increased to CNY 747,646,838.53 from CNY 712,190,840.67, marking an increase of approximately 5%[29]. - The company's cash and cash equivalents decreased to ¥22,233,704.74 from ¥63,788,997.26 year-over-year[28]. - Inventory increased significantly to CNY 45,693,420.14 from CNY 21,930,347.20, representing an increase of about 108.5%[30]. Shareholder Information - The total number of shareholders at the end of the reporting period was 27,021[22]. - The largest shareholder, Tibet Daoheng Investment Co., Ltd., held 203,834,996 shares, accounting for 38.76% of the total shares[22]. Expenses - Operating costs surged to ¥661,317,279.84, reflecting a dramatic rise of 1829.75% due to expanded trading activities[26]. - Management expenses decreased by 23.02% to ¥19,271,009.13, attributed to improved cost control measures[26]. - Financial expenses increased to 7,592,599.26 RMB from 5,708,502.39 RMB, primarily due to higher interest expenses of 9,188,321.29 RMB compared to 5,559,875.00 RMB in the previous year[39]. Investment Activities - Investment activities generated a cash outflow of ¥50,937,278.53, a 21.16% increase, mainly due to increased project investments[26]. - The company recorded investment income of 4,865,203.66 RMB, a significant increase from 596,930.06 RMB in Q1 2019[39].

| --- | --- | |-------------------|----------------------------------------------| | | 西藏华钰矿业股份有限公司 2019 年年度报告 | | 公司代码： 601020 | 公司简称：华钰矿业 | | 债券代码： 113027 | 债券简称：华钰转债 | | 转股代码： 191027 | 转股简称：华钰转股 | 西藏华钰矿业股份有限公司 2019 年年度报告 二零二零年四月 1 / 256 西藏华钰矿业股份有限公司 2019 年年度报告 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、 立信会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人刘建军、主管会计工作负责人邢建军及会计机构负责人（会计主管人员）刘志霞 声明：保证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 经公司第三届董 ...

证券代码：601020 证券简称：华钰矿业 公告编号：临 2019-084 号 转债代码：113027 转债简称：华钰转债 西藏华钰矿业股份有限公司 关于投资者接待日活动举办情况的公告 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、准确性和完整性承担个别及连带责 任。 一、投资者接待日活动基本情况 西藏华钰矿业股份有限公司（以下简称"华钰矿业"或"公司"）于 2019 年 12 月 3 日在北京市月坛大厦举办了投资者接待日活动。参加本次活动的有机 构调研员、投资公司和个人投资者共 15 人，公司总经理徐建华先生、财务总监 邢建军先生及公司部分高管出席了会议。 二、投资者参与方式及活动主要内容 参加活动的投资者就其关注的公司生产经营情况以及未来发展等问题与公 司进行了沟通和交流。具体内容详见附后的《西藏华钰矿业股份有限公司投资 者接待日活动会议纪要》。 特此公告。 西藏华钰矿业股份有限公司董事会 2019 年 12 月 5 日 1 西藏华钰矿业股份有限公司 投资者接待日活动会议纪要 活动时间：2019 年 12 月 3 日下午 14:30-17:30 活动 ...