Financial Performance - The company's operating revenue for Q1 2023 was RMB 11,573,875,801, representing a 31.02% increase compared to RMB 8,694,169,745 in the same period last year[4] - Net profit attributable to shareholders was RMB 679,946,535, a decrease of 10.00% from RMB 750,706,721 in the previous year[4] - The basic earnings per share for Q1 2023 was RMB 0.29, a decrease of 9.38% from RMB 0.32 in the same period last year[4] - Net profit for Q1 2023 was CNY 1,019,339,004, compared to CNY 1,150,744,053 in Q1 2022, reflecting a decrease of 11.4%[18] - The company reported a total comprehensive income of CNY 1,018,699,155 for Q1 2023, down from CNY 1,150,916,574 in Q1 2022[19] Cash Flow and Liquidity - The net cash flow from operating activities was RMB 26,088,385, down 98.97% from RMB 2,517,402,282 in the same period last year[4] - Cash flow from operating activities generated CNY 26,088,385, a significant decrease from CNY 2,543,923,368 in Q1 2022[21] - As of March 31, 2023, the company's cash and cash equivalents increased to ¥7,360,160,742 from ¥6,527,422,347 in the previous year, representing a growth of approximately 12.7%[14] - Cash and cash equivalents at the end of Q1 2023 totaled CNY 6,062,870,744, up from CNY 4,320,885,558 at the end of Q1 2022[22] Assets and Liabilities - The total assets at the end of the reporting period were RMB 53,254,369,504, a slight decrease of 0.53% from RMB 52,816,666,931 at the end of the previous year[5] - The company's total liabilities decreased to ¥32,551,810,449 from ¥32,883,999,277, indicating a reduction of approximately 1%[15] - The company's inventory decreased to ¥3,039,549,029 from ¥3,523,704,540, showing a decline of about 13.7%[14] - The company's short-term borrowings decreased to ¥6,451,143,713 from ¥6,487,386,586, reflecting a reduction of about 0.6%[15] Equity and Investments - The equity attributable to shareholders increased by 3.82% to RMB 16,839,557,929 from RMB 16,144,457,219 at the end of the previous year[5] - The company recognized an increase in retained earnings to ¥7,825,777,287 from ¥7,145,830,752, marking an increase of approximately 9.5%[16] - The company completed a capital increase of ¥150,000,000 in its subsidiary, Qinghai Xiyu Nonferrous Metals Co., increasing its ownership from 92.57% to 98.42%[13] - The company transferred a 27% stake in Qinghai Dongtaijinaier Lithium Resources Co., Ltd. for ¥351,948,072, aimed at improving its capital structure[13] Operating Costs and Expenses - Total operating costs for Q1 2023 were CNY 10,360,103,502, an increase of 38.4% from CNY 7,504,009,488 in Q1 2022[18] - Research and development expenses increased to CNY 95,002,231, up 20.8% from CNY 78,612,299 in the same period last year[18] Other Financial Metrics - The weighted average return on equity was 4.11%, down 1.38 percentage points from 5.49% in the previous year[4] - Non-recurring gains and losses totaled RMB 9,186,087 for the reporting period[7] - The company incurred a loss of CNY 41,419,093 from investments in associates and joint ventures, an improvement from a loss of CNY 49,819,276 in the previous year[18]

Financial Performance - The company achieved a net profit of RMB 3.446 billion for the year 2022, attributable to shareholders of the parent company[3]. - As of the end of the reporting period, the distributable profit available to shareholders was RMB 3.607 billion[3]. - The board approved a profit distribution plan to distribute cash dividends of RMB 14 per 10 shares, totaling RMB 3.336 billion, which accounts for 96.81% of the distributable profit for 2022[3]. - The company's operating revenue for 2022 was CNY 39.76 billion, an increase of 3% compared to CNY 38.50 billion in 2021[18]. - The net profit attributable to shareholders for 2022 was CNY 3.45 billion, representing an 18% increase from CNY 2.93 billion in 2021[18]. - The net cash flow from operating activities reached CNY 10.25 billion, a 29% increase from CNY 7.95 billion in the previous year[18]. - The total assets of the company at the end of 2022 were CNY 52.82 billion, a 6% increase from CNY 49.95 billion in 2021[18]. - The net assets attributable to shareholders increased by 21% to CNY 16.14 billion from CNY 13.29 billion in 2021[18]. - The basic earnings per share for 2022 were CNY 1.45, an increase of 18% compared to CNY 1.23 in 2021[19]. - The weighted average return on net assets for 2022 was 23.41%, a decrease of 0.46 percentage points from 23.87% in 2021[19]. Operational Efficiency and Strategy - The company has been focusing on enhancing its operational efficiency and cost management strategies[18]. - The company plans to continue expanding its market presence and investing in new technologies[18]. - The company is exploring potential mergers and acquisitions to strengthen its market position[18]. - The company achieved total operating revenue of RMB 39.8 billion in 2022, representing a year-on-year increase of 3%[26]. - The company produced 16,600 tons of electrolytic copper in 2022[27]. - The company successfully launched a 50,000-ton cathode copper expansion project, increasing annual production capacity to 150,000 tons[30]. - The company is focusing on the development of smart mining technologies, leveraging 5G applications for real-time monitoring and automation in mining operations[41]. - The company is committed to green development and has been recognized with several national-level green mine and factory designations, aligning with government policies on sustainable mining practices[41]. Environmental and Social Responsibility - The company invested 290 million yuan in environmental protection, achieving a 100% solid waste disposal rate and a 100% wastewater reuse rate[36]. - The company has implemented measures to control emissions of heavy metals and ammonia, achieving compliance with relevant standards[165]. - The company has established a solid waste disposal site for industrial waste, ensuring compliance with environmental regulations[165]. - The company has committed to green development principles, focusing on solid waste reduction and recycling initiatives[178]. - The company has publicly disclosed its pollutant discharge information through government platforms, ensuring transparency and public oversight[174]. - The company has made donations totaling 563 million yuan to support rural revitalization projects[183]. - The company has invested a total of 704.5 million yuan in social responsibility projects, benefiting approximately 4,000 people[182]. Research and Development - The company’s R&D expenses increased by 34% to 393.1 million RMB, indicating a focus on innovation and technology development[61]. - The company has established a comprehensive training system to enhance employee skills, with a focus on high-quality development[149]. - The company has implemented a performance-based salary system and a market-oriented salary decision mechanism to enhance labor productivity[147]. - The company has implemented a talent development strategy, with 1,447 employees holding professional technical qualifications, representing 19.06% of the workforce[148]. Governance and Compliance - The company has established a comprehensive risk warning mechanism, increasing the number of units under this mechanism to 20, enhancing its risk prevention capabilities[114]. - The company has implemented a strong internal control system, focusing on risk prevention and compliance management, to enhance governance levels[114]. - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[128]. - The company has established various specialized committees to oversee critical areas such as audit, remuneration, and strategy, promoting effective governance[132]. - The company’s financial management is overseen by Ma Mingde, who has been in the role since April 2021[120]. Market Position and Industry Context - The company is the second-largest lead-zinc concentrate producer and the fifth-largest copper concentrate producer in China, focusing on the mining, smelting, and trading of various non-ferrous and ferrous metals[42]. - The overall profit for major non-ferrous metal enterprises in China reached CNY 331.5 billion in 2022, indicating a robust industry performance despite individual fluctuations in metal prices[37]. - The company is actively involved in the development of fluorochemical downstream industries, aiming to integrate into the new energy sector[54]. - The company is focusing on high-quality development opportunities during the "14th Five-Year Plan" period, leveraging its strong resource base and policy advantages[98]. Financial Management and Investments - The company has established strategic partnerships with key suppliers to stabilize supply and reduce costs[70]. - The company has a total of 13 mining rights with a combined area of 62.82 km², ranking among the top in domestic metal mining enterprises[46]. - The company has implemented a series of major projects for industrial upgrading and transformation in the non-ferrous metal smelting sector[48]. - The company has a rich mineral resource reserve and further exploration potential, enhancing its overall development capability and risk resistance[59].

证券代码：601168 证券简称：西部矿业 公告编号：临 2023-019 西部矿业股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 投资者可于 2023 年 3 月 28 日（星期二）至 4 月 3 日（星期一）16:00 前登 录上证路演中心网站首页点击 " 提问预征集 " 栏目或通过公司邮箱 wmtzz@westmining.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 西部矿业股份有限公司（以下简称"公司"）已于 2023 年 3 月 25 日发布公司 《2022 年年度报告》，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，公司计划于 2023 年 4 月 4 日 15:00-16:30 举行 2022 年度业绩 说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以录播视频结合网络互动召开，公司将针对 2022 年度经 营成果及财务指标的具体情况与投资者进行互动交流和沟通， ...

Financial Performance - In 2020, the company's operating revenue was CNY 28.55 billion, a decrease of 6.60% compared to CNY 30.57 billion in 2019[25]. - The net profit attributable to shareholders was CNY 907.79 million, down 9.86% from CNY 1.01 billion in the previous year[25]. - The basic earnings per share decreased by 9.52% to CNY 0.38 from CNY 0.42 in 2019[24]. - The company's total assets increased by 7.61% to CNY 47.90 billion at the end of 2020, compared to CNY 44.52 billion at the end of 2019[25]. - The net asset attributable to shareholders rose by 8.74% to CNY 10.91 billion from CNY 10.03 billion in 2019[25]. - The company achieved an operating income of 28.55 billion RMB in 2020, a decrease of 7% compared to the previous year, with a total profit of 1.651 billion RMB and a net profit of 1.346 billion RMB, of which the net profit attributable to shareholders was 908 million RMB[57]. - The total operating revenue for the company reached ¥28,038,025,667, a decrease of 7.01% compared to the previous year, while the gross profit margin increased by 2.18 percentage points to 14.13%[62]. - The revenue from non-ferrous metal mining and smelting was ¥15,819,576,495, with a gross profit margin of 23.41%, reflecting an increase of 1.07 percentage points year-on-year[62]. Dividends and Share Capital - The company distributed cash dividends of 1.2 CNY per 10 shares, totaling 285.96 million CNY, which accounts for 31.5% of the distributable profit for 2020[5]. - The total share capital at the end of 2020 was 2,383 million shares[5]. - The company has established a cash dividend policy requiring that the cumulative cash dividends in the last three years be no less than 30% of the distributable profits[96]. - In 2019, the company distributed a total of 238.3 million RMB in cash dividends, with a net profit attributable to shareholders of 1.007 billion RMB[98]. Audit and Compliance - The company received a standard unqualified audit report from Ernst & Young Hua Ming[5]. - There were no non-operating fund occupations by controlling shareholders or related parties[7]. - The company has not violated decision-making procedures for external guarantees[7]. - The company has not reported any significant changes in its accounting policies that would affect its financial statements[101]. - There are no significant litigation or arbitration matters reported for the year[105]. - The company has no major accounting errors to correct during the reporting period[102]. Governance and Management - The company has a comprehensive governance structure, including a board of directors and supervisory board ensuring the accuracy of the financial report[4]. - The company has maintained a stable relationship with its controlling shareholders and actual controllers[106]. - The company’s governance structure is compliant with regulatory requirements, ensuring clear responsibilities and checks and balances among its governing bodies[195]. - The board of directors consisted of 7 members, including 3 independent directors, and held 10 meetings during the reporting period, ensuring compliance with legal and regulatory requirements[198]. - The company’s supervisory board, comprising 3 members, held 6 meetings and effectively supervised the operations and compliance of the company[200]. Operational Segments - The company operates in four main segments: mining, smelting, trading, and finance, focusing on non-ferrous and ferrous metals[29]. - The mining segment includes ownership or control of 13 mines, with significant reserves in lead, zinc, and copper[29]. - The smelting segment has an annual capacity of 100,000 tons for lead, 160,000 tons for electrolytic copper, and 100,000 tons for zinc ingots[30]. - The company plans to continue expanding its mining and smelting operations to enhance production capacity and market presence[29]. Market Position and Production - The company is the second largest lead concentrate producer, fourth largest zinc concentrate producer, and eighth largest copper concentrate producer in China[31]. - As of December 31, 2020, the company holds copper metal reserves of 655.83 thousand tons, lead metal reserves of 160.69 thousand tons, and zinc metal reserves of 311.60 thousand tons[32]. - The company has a total annual ore processing capacity of 33.51 million tons, with key mines such as Tibet Yulong Copper Mine processing 1.989 million tons annually[39]. - The company reported a completion rate of 106% for lead concentrate production, while zinc concentrate and electrolytic copper production were at 90% and 90% of their respective targets[51]. Research and Development - The company’s research and development expenses rose by 21.38% to 149.65 million RMB, indicating a commitment to innovation[58]. - Research and development expenses totaled ¥261,892,700, representing 0.92% of total operating revenue, with 1,014 R&D personnel, accounting for 18.49% of the total workforce[69]. Social Responsibility and Community Engagement - The company has successfully helped five villages achieve poverty alleviation, currently in the consolidation phase[121]. - The company has committed to social responsibility, particularly in poverty alleviation efforts, aligning with national policies[120]. - The company donated a total of 18.58 million yuan for social responsibility initiatives, primarily supporting poverty alleviation and education[128]. - The company contributed 8.21 million yuan for pandemic prevention efforts, including a donation of 7 million yuan to the Qinghai Red Cross[128]. Environmental Management - All units have obtained pollution discharge permits and registered fixed pollution sources, with monitoring results meeting current standards[131]. - Wastewater treatment facilities effectively recycle tailings wastewater, with domestic sewage treated for irrigation purposes[132]. - The company has successfully implemented a comprehensive environmental monitoring program, ensuring compliance with regulations[131]. - The company has established a wastewater treatment station that recycles all production wastewater, with no external discharge[143]. Employee Management and Development - The company has a total of 5,484 employees, with 159 in the parent company and 5,325 in major subsidiaries[186]. - The employee composition includes 4,145 production personnel, 197 sales personnel, 304 technical personnel, 141 financial personnel, and 697 administrative personnel[186]. - The company has implemented a talent development strategy, focusing on internal training and recruitment to enhance human resource capabilities[191]. - The company organized 828 training sessions for 32,451 employees in 2020, incurring training costs of 1.5986 million yuan, enhancing employee skills and adaptability[193].