Financial Performance - The company's operating revenue for 2022 was ¥564,223,352.33, a decrease of 59.93% compared to ¥1,408,261,710.69 in 2021[24]. - Net profit attributable to shareholders was ¥149,689,596.67, a slight decrease of 0.64% from ¥150,648,874.60 in the previous year[24]. - The net profit after deducting non-recurring gains and losses increased by 28.29% to ¥170,695,063.37 from ¥133,055,018.72 in 2021[24]. - The cash flow from operating activities was ¥275,527,585.25, reflecting a 6.25% increase from ¥259,326,113.15 in 2021[24]. - The total assets at the end of 2022 were ¥5,329,613,228.27, up 6.56% from ¥5,001,676,851.71 at the end of 2021[24]. - The consolidated net profit was 134 million RMB, a slight decrease of 0.42% year-on-year, with a net profit attributable to shareholders of 150 million RMB, down 0.64%[91]. - Operating costs decreased by 69.39% to 306.09 million RMB, primarily due to business structure adjustments and the absence of trade activities[93]. - The company achieved a sales revenue of 564.22 million RMB, a decrease of 59.93% year-on-year[91]. Share Capital and Dividends - The company plans to distribute no cash dividends for the 2022 fiscal year and will instead increase capital reserves by issuing 4 new shares for every 10 shares held, resulting in a total increase of 224,932,186 shares, raising the total share capital to 787,262,652 shares[5]. - The company’s total share capital as of March 31, 2023, is 562,330,466 shares before the proposed increase[5]. Audit and Compliance - The company received a standard unqualified audit report from Lixin Certified Public Accountants, ensuring the accuracy and completeness of the financial report[4]. - The company’s board of directors and management have confirmed the authenticity and completeness of the annual report, taking legal responsibility for any misrepresentation[7]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties, nor any violations in decision-making procedures for external guarantees[7]. Risk Management and Future Outlook - The company has outlined potential risks in its future development, which are detailed in the management discussion and analysis section of the report[8]. - The company’s future plans and strategic developments are subject to market risks and do not constitute a commitment to investors[6]. - The company’s financial indicators and performance metrics for the past three years are expected to be discussed in detail in the subsequent sections of the report[23]. Operational Highlights - In the Tibet region, the actual mining volume was 590,000 tons, completing 98.33% of the annual plan, while the actual ore processing volume was 594,000 tons, completing 99.00% of the plan[33]. - The company completed 7,127 meters of drilling in the year, contributing to resource stability and cost reduction[33]. - The company plans to increase mining capacity to 5,000 tons per day across its mining projects, with an annual ore supply target of 1.5 million tons[41]. - The company completed environmental assessments and obtained necessary permits for the Ethiopia project, which is ready to commence development[44]. Environmental and Safety Management - The company achieved a green mine certification for the Zha Xi Kang mine, demonstrating compliance with national environmental standards[49]. - The company maintained a 100% occupational health record with no reported cases of occupational diseases in 2022[50]. - The company conducted safety training sessions throughout the year, ensuring a 100% certification rate for special operations personnel[47]. - The company completed the construction of key safety systems at the Zha Xi Kang mine, significantly enhancing safety production guarantees[57]. Research and Development - Research and development expenses increased by 480.94% to 8.93 million RMB, reflecting the company's commitment to enhancing production efficiency[93]. - The company established a long-term management mechanism for talent retention and development, including the establishment of Tibet's first postdoctoral workstation[89]. Strategic Initiatives - The company plans to strengthen cooperation in mineral resources and technology in Central Asia, aligning with the national "Belt and Road" initiative[70]. - The company is executing multiple cooperative exploration projects in Tibet to increase resource reserves, leveraging the "Belt and Road" initiative for international collaboration[147]. - The company aims to enhance its customer structure by increasing the proportion of well-known and high-end clients through strategic cooperation with leading smelting enterprises[153]. Governance and Investor Relations - The company actively improved information disclosure practices, enhancing transparency and ensuring timely and accurate reporting to prevent insider trading[177]. - The company held one annual general meeting and one extraordinary general meeting in 2022, ensuring equal rights for all shareholders, particularly minority shareholders[181]. - The company has not reported any changes in its board of directors or senior management during the reporting period[195]. - The company’s governance practices are under scrutiny, as indicated by the regulatory actions taken against it[196].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 153,110,515.29, a decrease of 72.90% compared to the same period last year[6] - Net profit attributable to shareholders was CNY 15,468,709.31, an increase of 498.84% year-on-year[6] - The net profit after deducting non-recurring gains and losses reached CNY 18,450,566.93, up 591.95% from the previous year[6] - The basic earnings per share for the period was CNY 0.028, reflecting a 492.98% increase[6] - Operating profit for Q1 2023 was ¥15,359,770.51, a turnaround from a loss of ¥4,303,534.91 in Q1 2022[24] - Net profit for Q1 2023 was ¥11,565,985.60, compared to a net loss of ¥6,706,694.62 in the same period last year, marking a substantial recovery[24] - The company's operating profit for Q1 2023 was CNY 5,645,402.87, a decrease from CNY 9,325,509.29 in Q1 2022, representing a decline of approximately 39.5%[38] - The net profit for Q1 2023 was CNY 3,526,659.11, down from CNY 7,140,800.36 in Q1 2022, indicating a decrease of about 50.5%[38] - The total profit for Q1 2023 was CNY 5,575,766.90, down from CNY 9,393,515.15 in Q1 2022, reflecting a decrease of approximately 40.0%[38] Cash Flow - The net cash flow from operating activities was CNY -50,992,515.86, a decline of 260.92% compared to the previous year[6] - Cash flow from financing activities increased by 879.53% due to an increase in borrowings during the period[10] - Cash inflow from financing activities in Q1 2023 was ¥195,445,388.49, while cash outflow was ¥89,931,399.44, resulting in a net cash inflow of ¥105,513,989.05[28] - The total cash inflow from operating activities in Q1 2023 was CNY 39,031,591.06, compared to CNY 138,511,235.27 in Q1 2022, reflecting a significant drop of approximately 71.8%[41] - The net cash flow from operating activities for Q1 2023 was CNY 49,751,302.37, a recovery from a negative cash flow of CNY -60,853,188.06 in Q1 2022[41] - Cash inflow from financing activities in Q1 2023 was CNY 55,000,000.00, while cash outflows totaled CNY 15,106,260.79, resulting in a net cash flow of CNY 39,893,739.21[41] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,304,975,351.04, a decrease of 0.46% from the end of the previous year[6] - The company's current assets totaled RMB 314,733,028.71, down from RMB 394,836,870.57 at the end of 2022, indicating a decrease of about 20.3%[17] - Total liabilities decreased to RMB 1,794,362,945.87 from RMB 1,840,012,008.35, a decline of approximately 2.5%[19] - The total assets of the company as of March 31, 2023, were CNY 4,248,609,437.09, down from CNY 4,327,751,119.06 at the end of 2022[35] - The total liabilities decreased to CNY 1,857,002,150.74 as of March 31, 2023, from CNY 1,938,364,882.31 at the end of 2022, a reduction of about 4.2%[33] Expenses - Sales expenses increased by 308.65% primarily due to shipping costs incurred by overseas sales[10] - Financial expenses rose by 196.43% mainly due to exchange rate fluctuations[10] - The company reported a significant increase in sales expenses, which rose to ¥966,057.87 from ¥236,404.38 year-over-year[22] - The company experienced a decrease in tax expenses, which were ¥3,695,903.94 in Q1 2023 compared to ¥2,286,543.23 in Q1 2022[24] - The cost of goods sold in Q1 2023 was CNY 37,570,571.91, down 24.5% from CNY 49,759,167.39 in the same period last year[36] Equity - The company's equity attributable to shareholders increased to RMB 2,882,672,038.95 from RMB 2,856,529,382.41, representing an increase of about 0.9%[21] - The company's total equity as of March 31, 2023, was CNY 2,391,607,286.35, slightly up from CNY 2,389,386,236.75 at the end of 2022[35] Other Information - The company has pledged 48,892,000 shares, which accounts for 53.44% of its total holdings, representing 8.69% of the company's total equity[13] - Research and development expenses were not explicitly reported, indicating a potential area for future investment focus[24] - The company did not apply new accounting standards for the first quarter of 2023[42]

| 证券代码：601020 | 证券简称：华钰矿业 | 公告编号：临 | 2023-015 | 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 关于召开 2022 年年度业绩暨利润分配说明会的公告 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法律责任。 重要内容提示： 西藏华钰矿业股份有限公司（以下简称"公司"或"华钰矿业"）于 2023 年 4 月 26 日召开第四届董事会第十六次会议并披露《西藏华钰矿业股份有限公 司 2022 年年度报告》及《西藏华钰矿业股份有限公司 2023 年度第一季度报 告》。为便于广大投资者更全面深入地了解公司 2022 年度经营成果、财务状 况、利润分配及公司 2023 年度经营计划，公司决定于 2023 年 5 月 17 日（星期 三）下午 14:00-15:00 通过上海证券交易所"上证路演中心"栏目召开"华钰 矿业 2022 年年度业绩暨利润分配说明会"。 一、说明会类型 1 会议 ...

证券代码：601020 证券简称：华钰矿业 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 投资者关系活动记录表（2021年度业绩暨现金分红说明会） 编号：2022—01 | --- | --- | --- | |----------------------------|-------------------------------------|---------------------------------------------------| | | | | | | | | | | □特定对象调研 □分析师会议 | | | | □媒体采访 | √业绩说明会 | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | | □现场参观□电话会议 | | | | □其他 | （请文字说明其他活动内容） | | 会议时间 2022年5月27 | 日下午 | 14:00 — 15:00 | | 会议地点 | | 上证所信息网络有限公司上证路演中心平台（网址： | | | http://roadshow.sseinfo.com | ） | | | 总经理：蒋仕来 | | | 上市公司 ...

Financial Performance - The company's operating revenue for Q3 2022 was CNY 299,587,845.56, a decrease of 38.09% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2022 was CNY 92,632,980.16, an increase of 14.12% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 96,032,255.08, reflecting a year-on-year increase of 23.28%[5]. - Total operating revenue for Q3 2022 was CNY 552,366,664.80, a decrease of 48.3% compared to CNY 1,068,139,505.94 in the same period last year[24]. - Net profit for Q3 2022 reached CNY 161,213,042.17, an increase of 9.1% compared to CNY 147,506,357.03 in Q3 2021[25]. - The company's total comprehensive income for Q3 2022 was CNY 161,213,042.17, compared to CNY 147,506,357.03 in the same period last year, indicating a positive trend[26]. - The net profit for the third quarter of 2022 was CNY 130,153,739.55, compared to CNY 115,516,126.55 in the same quarter of 2021, indicating an increase of about 12.4%[37]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to CNY 5,495,074,863.28, representing a 9.86% increase from the end of the previous year[7]. - The total assets of the company as of September 30, 2022, amounted to CNY 4,264,088,252.34, an increase from CNY 4,100,531,863.36 at the end of 2021[34]. - The company's total liabilities increased to CNY 1,449,371,000.00, compared to CNY 1,200,000,000.00 in the previous year, indicating a rise of approximately 20.7%[21]. - Total liabilities as of Q3 2022 amounted to CNY 1,800,617,380.87, an increase of 7.9% from CNY 1,667,879,852.96 at the end of the previous year[24]. - The company's total liabilities as of September 30, 2022, were CNY 1,490,825,781.73, slightly up from CNY 1,471,584,458.08 in the previous year[34]. Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 340,278,753.43, an increase of 62.57% year-on-year[5]. - The cash flow from operating activities for the first three quarters of 2022 was CNY 383,875,286.26, significantly higher than CNY 233,882,169.76 in the same period of 2021, marking an increase of approximately 64.1%[40]. - Total cash inflow from operating activities in Q3 2022 was CNY 750,643,706.41, down from CNY 1,227,988,370.53 in Q3 2021, indicating a decline of approximately 38.8%[29]. - Cash outflow from operating activities in Q3 2022 was CNY 410,364,952.98, compared to CNY 1,018,677,126.93 in Q3 2021, reflecting a decrease of about 59.7%[29]. - The company reported a net cash outflow from investing activities of CNY -280,364,470.02 in Q3 2022, compared to CNY -117,879,366.40 in Q3 2021, indicating increased investment expenditures[29]. - The company reported a net cash outflow from investing activities of CNY 204,559,124.51 in Q3 2022, compared to a net outflow of CNY 155,828,413.02 in Q3 2021[41]. Shareholder Information - The top two shareholders hold 26.66% of the total shares, with Tibet Daoheng Investment Co., Ltd. owning 16.27%[12]. - The top ten unrestricted shareholders collectively hold 91,482,629 shares, accounting for 16.27% of the total share capital[15]. - The company reported a pledge of 44,690,000 shares, which constitutes 48.85% of the shares held by the largest shareholder, representing 7.95% of the total share capital[17]. Business Challenges and Adjustments - The company adjusted its business structure due to unstable non-ferrous metal prices and reduced trade volume, impacting revenue[11]. - The company faced challenges in product transportation due to an outbreak in Tibet in early August, affecting sales revenue[11]. - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[18]. - There are no reported mergers or acquisitions in the recent financial disclosures[18]. Inventory and Equity - The company's current assets reached CNY 449,372,820.35, compared to CNY 309,491,619.63 in the previous year, indicating a growth of approximately 45.2%[21]. - Inventory levels rose significantly to CNY 223,386,722.02 from CNY 64,890,773.00, marking an increase of approximately 244.5%[21]. - The company's inventory as of September 30, 2022, was CNY 78,663,435.34, an increase from CNY 57,165,902.76 in the same period of 2021, reflecting growth in stock levels[32]. - The equity attributable to shareholders at the end of Q3 2022 was CNY 2,970,587,364.22, up 10.84% compared to the end of the previous year[7]. - Total equity reached CNY 3,694,457,482.41, up from CNY 3,333,796,998.75 in the previous year, reflecting a growth of 10.9%[24]. - The total equity increased to CNY 2,348,396,337.25 in Q3 2022 from CNY 2,167,782,370.91 in Q3 2021, reflecting a growth of about 8.3%[35].

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2022, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was 300 million RMB, up 20% compared to the same period last year[15]. - The company's operating revenue for the first half of 2022 was ¥252,778,819.24, a decrease of 56.73% compared to the same period last year[21]. - The net profit attributable to shareholders for the first half of 2022 was ¥48,485,664.06, down 32.19% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥52,586,537.07, reflecting a decrease of 21.67% compared to the previous year[21]. - The company's cash flow from operating activities was ¥106,903,124.88, a decline of 11.94% from the same period last year[21]. - The weighted average return on net assets for the first half of 2022 was 1.79%, a decrease of 1.01 percentage points compared to the same period last year[21]. - The company achieved operating revenue of CNY 253 million and a net profit attributable to shareholders of CNY 48 million during the reporting period[60]. - The company reported a revenue of 132,728,358.94 USD for the period, with a net profit of 101,650,018.11 USD, indicating a stable performance[112]. Assets and Investments - The company’s total assets reached 5 billion RMB, with a debt-to-asset ratio of 40%[15]. - The company's total assets at the end of the reporting period were ¥5,068,449,363.05, an increase of 1.34% from the end of the previous year[21]. - The company has controlled resource reserves of 860,000 tons of lead, 1,440,000 tons of zinc, 170,000 tons of antimony, 2,427 tons of silver, and 14,628 tons of copper domestically[47]. - The company’s overseas joint venture, Talco Gold, has controllable resource reserves of 26,460 tons of antimony and 49.90 tons of gold, which have been registered with the Tajikistan National Resource Reserve Committee[47]. - The company has completed the acquisition of a 40% stake in Guizhou Yatai Mining Co., Ltd. for ¥50,000,000, aiming to enhance its gold resource reserves[28]. - The company has completed the acquisition of the Talco Gold project in Tajikistan, which has officially commenced production[33]. - The company has made significant equity investments in various mining projects, including a 50% stake in Talu Mining, which has a controllable resource of 49.9 tons of gold[106]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[15]. - The company plans to strengthen cooperation in mineral resources and technology in Central Asia, aligning with the national "Belt and Road" initiative[31]. - The company is focusing on mining project investment opportunities in regions such as Inner Mongolia, Xinjiang, Yunnan, Guizhou, and Guangxi[33]. - The company aims to ensure stable supply of human, material, and financial resources for domestic and overseas project construction[33]. Production and Operations - The company's production output for the first half of 2022 was 222,100 tons, achieving 37.02% of the planned 600,000 tons[61]. - The company plans to produce 21,000 tons of antimony annually after the Taluy Gold project reaches full production, controlling nearly 15% of the global antimony supply[53]. - The "Talu Gold Industry" project commenced trial production in April 2022, with an annual processing capacity of 1.5 million tons and expected annual output of 16,000 tons of antimony concentrate and 2.2 tons of gold ingots[31]. - The processing plant has completed installation and began trial production in April, processing 80,769 tons of ore from April to June, and officially entered production in July[70]. Research and Development - The company has allocated 100 million RMB for research and development in the upcoming year[15]. - The company is focusing on technological innovations to reduce production costs and improve resource utilization rates across mining and processing operations[78]. Environmental and Social Responsibility - The company has committed to social responsibility by donating 1.5374 million yuan annually for poverty alleviation in local communities[95]. - The company has constructed a 4,500 square meter dust suppression facility at the Shannan branch, significantly reducing environmental pollution[129]. - The company has established a comprehensive pollution prevention and control system, ensuring compliance with national standards[138]. - The company has actively pursued environmental compliance and has obtained necessary permits, including pollutant discharge and radiation safety licenses[138]. - The company has conducted quarterly environmental monitoring of surface water, groundwater, and air quality, with all discharge indicators meeting national standards[142]. Legal and Compliance Issues - The company is currently involved in significant litigation, with a total claimed compensation amounting to RMB 69,355,618.55 from 15 individuals due to alleged false statements regarding securities[158]. - The court has frozen the company's bank deposits totaling RMB 67,814,728.72 as part of the ongoing legal proceedings[158]. - The company was criticized by the Shanghai Stock Exchange for violations, involving the company and key personnel, including the controlling shareholder and the actual controller, with a focus on improving compliance and governance[171]. - The company has not declared any dividends or stock bonuses for the reporting period, indicating a focus on reinvestment[124]. Financial Management - The company completed a bank loan renewal of 105 million yuan and is actively promoting financing efforts[81]. - The company has provided a total guarantee amount of RMB 5,274.80 million, which accounts for 1.97% of the company's net assets[192]. - The company has signed a rental contract with Daoheng Investment for RMB 147,840 for a one-year lease[186].

2022 年第一季度报告 | --- | --- | --- | --- | --- | --- | |------------|--------|-------|-------|--------------------|-----------| | | | | | | | | 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 | | | 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 2022 年第一季度报告 二零二二年四月 1 / 20 2022 年第一季度报告 单位：元 币种：人民币 2 / 20 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。 公司负责人刘良坤、主管会计工作负责人邢建军及会计机构负责人刘志霞（会计主管 ...

Financial Performance - In 2021, the company's operating revenue was CNY 1,408,261,710.69, a decrease of 40.80% compared to CNY 2,378,942,506.55 in 2020[23]. - The net profit attributable to shareholders in 2021 was CNY 150,648,874.60, representing an increase of 108.13% from CNY 72,380,454.50 in 2020[23]. - The net cash flow from operating activities for 2021 was CNY 259,326,113.15, down 52.28% from CNY 543,397,713.82 in 2020[23]. - The total assets at the end of 2021 were CNY 5,001,676,851.71, an increase of 1.77% from CNY 4,914,793,515.33 at the end of 2020[25]. - The basic earnings per share for 2021 was CNY 0.27, up 92.86% from CNY 0.14 in 2020[25]. - The weighted average return on equity for 2021 was 4.63%, an increase from 3.16% in 2020[25]. - The company achieved a comprehensive cost control in 2021, with overall costs being 2.1% lower than the budget[58]. - The company reported a net profit of CNY 27,181,898.71 in Q1 2021, with a total operating revenue of CNY 274,355,525.67[26]. - The net profit attributable to shareholders for Q4 2021 was a loss of CNY 2,025,207.21, despite an operating revenue of CNY 340,122,204.75[26]. - The company received government subsidies amounting to CNY 7,424,156.84 in 2021, which are closely related to its normal business operations[30]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has a commitment to ensuring the authenticity, accuracy, and completeness of its financial reports[6]. - The company’s legal representative is Liu Liangkun, and the board secretary is Sun Yanchun[20]. - The company organized 12 board meetings and 201 interim announcements to ensure compliance and protect investor rights[64]. - The company conducted a thorough internal control system review and completed necessary rectifications by September 2021[73]. Operational Highlights - The planned mining output for 2021 was 620,000 tons, and the planned processing output was also 620,000 tons, both of which were successfully completed[35]. - The actual completion of lead, zinc, and antimony metal was 39,522 tons, and silver metal was 60,738 kilograms, exceeding the planned target of 35,611 tons for the former[36]. - The company completed the environmental system certification and energy system certification review in 2021[51]. - The company achieved a sales revenue of 1.408 billion RMB, a decrease of 40.80% year-on-year[102]. - The company reported a total metal output of 20,000 tons of lead, 17,000 tons of zinc, 8,000 tons of antimony, and 605 tons of silver from the Koyue lead-zinc polymetallic mine in Tibet[141]. Investment and Expansion - The company invested 4.46 million yuan in safety, environmental protection, and occupational health in 2021, enhancing overall management levels[49]. - The total budget investment for the Kangqiao Qizhong Antimony Mine project was 138 million USD, with significant expenditures on geological exploration and mining systems[41]. - The company acquired 40% equity in Guizhou Yatai Mining Co., Ltd. for a transaction price of 500 million CNY, with the assessed value of the entire equity at 1.25 billion CNY[80]. - The company’s overseas project, Talco Gold, is expected to process 1.5 million tons of ore annually, producing 16,000 tons of antimony and 2.2 tons of gold, significantly enhancing profitability and risk resilience[83]. - The company aims to enhance its overseas expansion capabilities, particularly in precious metal mining projects along the Belt and Road Initiative[83]. Resource Management - The company aims to expand its non-ferrous metal resource reserves, focusing on lead, zinc, antimony, copper, silver, and gold, while also increasing its precious metal business[166]. - The company has completed the delivery and industrial change procedures for the acquired equity in Yatai Mining, laying a solid foundation for project development[82]. - The company has a remaining mining resource lifespan of 21 years for the Zha Xi Kang lead-zinc polymetallic mine[138]. - The company controls a total of 145,000 tons of zinc resources, 87,000 tons of lead resources, and 17,000 tons of antimony resources domestically[93]. - The company’s total gold resources from various projects amount to 118.565 tons, including 49.9 tons from the Tower Aluminum project and 9.475 tons from the Ethiopia project[93]. Market Conditions - The company reported a significant recovery in the prices of non-ferrous metals such as lead, zinc, and antimony due to global economic recovery and limited supply restoration[166]. - The average price of 0 zinc spot increased to 22,434 RMB/ton, up by 4,142 RMB/ton or 22.6% compared to 2020[88]. - The total global refined zinc consumption in 2021 reached 14.144 million tons, an increase of 584,000 tons or 4.3% year-on-year[88]. - The company’s lead consumption in 2021 was 12.212 million tons, reflecting a growth of 4.3% compared to 2020[86]. Risk Management - The company faces risks related to price fluctuations of its main products, including zinc concentrate, lead-antimony concentrate, copper concentrate, and gold concentrate, which significantly impact profitability[196]. - The company is subject to various regulatory changes affecting the mining industry, which may impact future operations[134]. - The company is in a rapid development phase, facing challenges in comprehensive management and talent team construction as it expands its production scale and diversifies its operations[199]. Human Resources - The company emphasizes the importance of human resource management and strategic partnerships with leading educational institutions to enhance talent reserves[173]. - The company had 50 R&D personnel, making up 17% of the total workforce[124]. - A talent training system will be built to address internal talent gaps, focusing on the development of specialized and versatile talents[195]. - The company will establish an effective incentive mechanism and clarify talent selection standards to combine material and spiritual incentives for employees[194].

Financial Performance - The company's operating revenue for Q3 2021 was ¥483,887,616.67, representing a 13.00% increase compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2021 was ¥81,170,346.58, showing a significant increase of 111.45% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥77,897,193.97, up by 101.49% compared to the same period last year[6]. - The basic earnings per share for Q3 2021 was ¥0.15, reflecting a 99.67% increase year-on-year[6]. - Total revenue for the third quarter of 2021 was CNY 1,068,139,505.94, a decrease from CNY 1,810,250,210.27 in the same period of 2020, representing a decline of approximately 41%[22]. - Net profit for the third quarter of 2021 was CNY 147,506,357.03, compared to CNY 55,691,989.61 in the same quarter of 2020, reflecting an increase of approximately 164%[23]. - The total comprehensive income for the third quarter of 2021 was CNY 147,506,357.03, compared to CNY 55,691,989.61 in the same period of 2020, representing a significant increase[24]. - Basic and diluted earnings per share for the third quarter of 2021 were both CNY 0.28, up from CNY 0.12 in the same quarter of 2020, indicating a 133.33% increase[24]. Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥4,859,957,188.34, a decrease of 1.21% from the end of the previous year[7]. - Total assets as of September 30, 2021, were RMB 4,859,957,188.34, slightly down from RMB 4,914,793,515.33 at the end of 2020, a decrease of about 1.1%[19]. - The total liabilities and shareholders' equity amounted to CNY 4,859,957,188.34, slightly down from CNY 4,914,793,515.33 year-over-year[22]. - The total equity attributable to shareholders increased to CNY 3,335,081,557.66 from CNY 3,177,823,766.19, marking an increase of approximately 5%[22]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥209,311,243.60, down by 61.82% year-on-year[6]. - Net cash flow from operating activities for the third quarter of 2021 was CNY 209,311,243.60, down from CNY 548,165,776.81 in the same period of 2020, reflecting a decrease of 61.91%[25]. - Cash inflow from operating activities totaled CNY 1,227,988,370.53, compared to CNY 2,476,191,176.44 in the previous year, a decline of 50.49%[25]. - Cash outflow from operating activities was CNY 1,018,677,126.93, down from CNY 1,928,025,399.63 in the same period of 2020, a decrease of 47.25%[25]. - Net cash flow from investing activities was -CNY 117,879,366.40 for the third quarter of 2021, compared to -CNY 410,474,503.59 in the same period of 2020, showing an improvement of 71.25%[25]. - Net cash flow from financing activities was -CNY 80,647,639.93, compared to -CNY 137,816,351.00 in the same period of 2020, indicating a 41.51% improvement[26]. - The ending balance of cash and cash equivalents as of the third quarter of 2021 was CNY 39,316,279.31, compared to CNY 63,730,486.40 at the end of the same period in 2020, a decrease of 38.41%[26]. Shareholder Information - The company has not reported any related party transactions or concerted actions among shareholders, ensuring transparency in shareholder relations[16]. - The top ten shareholders hold a total of 18.48% of the company's shares, with the largest shareholder, Tibet Daoheng Investment Co., Ltd., holding 18.48%[16]. Market Conditions - The company reported a significant increase in net profit for the year-to-date, attributed to rising market prices for zinc and lead-antimony concentrates[11]. - The company experienced a 40.99% decrease in operating revenue for the year-to-date, primarily due to fluctuations in the non-ferrous metal market[11]. Costs and Expenses - Total operating costs for the third quarter of 2021 were CNY 916,266,084.73, down from CNY 1,760,679,027.10 in the previous year, indicating a reduction of about 48%[22]. - The company’s financial expenses were CNY 33,908,390.33, slightly up from CNY 33,603,964.14 year-over-year[22]. - The company plans to continue focusing on cost reduction and efficiency improvements to enhance profitability in future quarters[23].

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].