投资者可于 2023 年 06 月 02 日(星期五) 至 06 月 08 日(星期 四)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 byysjtgf@163.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。 白银有色集团股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日通过上海证券交易所网站（www.sse.com.cn）披露公司 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 06 月 09 日 上午 11:00-12:00 举行 2022 年度业绩说明会，就投资者关心的问题进行交流。 证券代码：601212 证券简称：白银有色 公告编号：2023-临 040 号 白银有色集团股份有限公司 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： 公司董事长（代行董事会秘书职责）王普公、总经理王彬、财务 总监徐东阳和独立董事杨 ...

Financial Performance - The company's operating revenue for 2022 was ¥87.84 billion, an increase of 21.52% compared to ¥72.28 billion in 2021[15]. - Net profit attributable to shareholders for 2022 was ¥33.31 million, a decrease of 59.25% from ¥81.74 million in 2021[16]. - The net cash flow from operating activities for 2022 was ¥1.69 billion, up 13.94% from ¥1.48 billion in 2021[16]. - The total assets at the end of 2022 were ¥46.66 billion, a 2.22% increase from ¥45.65 billion at the end of 2021[16]. - Basic earnings per share for 2022 were ¥0.004, down 63.64% from ¥0.011 in 2021[17]. - The weighted average return on equity for 2022 was 0.23%, a decrease of 0.3 percentage points from 0.53% in 2021[17]. - The company's total profit for the mining industry in 2022 was 1,557.36 billion yuan, an increase of 48.6% year-on-year[36]. - The company reported a significant increase in main business income from the non-ferrous metal smelting and sales sector, which rose by 30.35%[51]. - The gross margin for the overall main business was 4.83%, an increase of 0.61 percentage points compared to the previous year[52]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.014 yuan per share, totaling 10.3667 million yuan, which represents 31.12% of the net profit attributable to the parent company for 2022[3]. - The company conducted 4 shareholder meetings in 2022, discussing 22 agenda items to ensure shareholder rights and participation[91]. - The board of directors held 8 meetings in 2022, reviewing 60 agenda items to ensure compliance with shareholder resolutions[91]. - The company’s cash dividend policy emphasizes a minimum of 10% of the distributable profit to be distributed in cash annually[131]. - The company’s cash dividend distribution ratio is set at a minimum of 80% for mature stages without major capital expenditures[131]. Governance and Compliance - The company has received a standard unqualified audit report from Yongtuo Accounting Firm for the fiscal year 2022, ensuring the accuracy and completeness of the financial statements[2]. - There are no non-operational fund occupations by controlling shareholders or related parties, ensuring financial integrity[4]. - The company has not violated decision-making procedures in providing guarantees, maintaining compliance with regulations[4]. - The company has established a robust governance structure, with all board members present at the board meeting to ensure accountability[2]. - The company has a comprehensive disclosure policy, with annual reports published in major financial media such as Shanghai Securities News and Securities Times[12]. Operational Highlights - In 2022, the company produced a total of 236,700 tons of metal concentrate, a decrease of 2.19% year-on-year, with copper concentrate increasing by 20.29% to 58,100 tons[24]. - The smelting system produced a total of 645,000 tons of copper, lead, and zinc products, an increase of 13.12% year-on-year, with cathode copper production rising by 34.6% to 250,400 tons[25]. - The company has established a comprehensive internal control system with 403 key business management processes, enhancing operational efficiency[28]. - The company completed all 132 tasks outlined in its three-year reform action plan by October 2022, indicating successful implementation of strategic initiatives[29]. Research and Development - The company initiated 209 key technology research and development projects in 2022, achieving an 83.2% completion rate for its internal "challenge and lead" projects[27]. - The company received 19 various technology awards in 2022, including a first-class award for a key technology in lead-based anode production[27]. - Research and development expenses increased by 35.13% to ¥84.74 million, compared to ¥62.71 million in the previous year[48]. - The number of R&D personnel is 885, accounting for 6.2% of the total workforce[65]. Environmental Responsibility - The company invested 115.43 million CNY in environmental protection during the reporting period[138]. - The company reported a total COD emission of 4.963 tons in 2022, with a concentration range of 0.06-57.56 mg/l, adhering to a limit of 60 mg/l[140]. - The company has established a comprehensive environmental management system to enhance pollution control capabilities and ensure compliance with emission standards[139]. - The company is committed to high standards in pollution control and has implemented new regulations to strengthen environmental governance[139]. Market and Economic Outlook - The average LME-3M copper contract price in 2022 was $8,790.2 per ton, a decrease of 5.42% from 2021[35]. - The average LME-3M zinc contract price in 2022 was $3,444.8 per ton, an increase of 14.53% from 2021[35]. - The company anticipates a global copper supply increase of about 940,000 tons in 2023, with a growth rate of approximately 4.5%-5%[83]. - The forecast for zinc market in 2023 indicates a supply-demand balance leaning towards surplus, with expectations of inventory accumulation due to new domestic capacity releases[83]. Legal and Regulatory Matters - The company is involved in multiple lawsuits, including a construction contract dispute with a claim amount of approximately 14.02 million RMB[175]. - The company has initiated a lawsuit against multiple parties for the delivery of copper or equivalent monetary compensation, along with additional claims for damages amounting to approximately 51.80 million RMB[176]. - The company has reported no expected liabilities arising from the ongoing litigation as of the reporting date[175]. - The company has faced challenges in contract enforcement and recovery of receivables, impacting its financial position[176]. Employee and Social Responsibility - The company has a workforce of 7,292 employees, with 44.6% being professional technical personnel, ensuring a strong talent pool for its operations[46]. - The company invested approximately 222.56 million yuan in assistance for 710 employees and their families, and 343.23 million yuan in consumption poverty alleviation, benefiting about 14,588 people[32]. - The total number of employees in the parent company is 8,497, and the total number of employees in major subsidiaries is 5,807, resulting in a combined total of 14,304 employees[127]. - The company implemented a performance-based salary system, which includes basic salary, performance salary, and allowances[129].

2023 年第一季度报告 单位：元 币种：人民币 证券代码：601212 证券简称：白银有色 白银有色集团股份有限公司 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、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 \n变动幅度 (%) | | 营业收入 | 21,007,201,943 ...

Financial Performance - The company's operating revenue for Q3 2022 was approximately ¥20.59 billion, representing an increase of 8.89% year-over-year[4]. - The net profit attributable to shareholders for Q3 2022 was a loss of approximately ¥327.15 million, a decrease of 464.03% compared to the same period last year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of approximately ¥346.99 million, a decrease of 398.86% year-over-year[4]. - Operating profit for Q3 2022 was CNY 751.40 million, down from CNY 1.01 billion in Q3 2021, indicating a decline of about 25.7%[23]. - Net profit for Q3 2022 was CNY 203.05 million, compared to CNY 427.93 million in Q3 2021, reflecting a decrease of approximately 52.5%[23]. - The total profit for the period was 738 million yuan, with a net profit of 203 million yuan, while the net profit attributable to shareholders was -276 million yuan due to inventory impairment and foreign exchange losses[16]. Assets and Liabilities - The total assets at the end of Q3 2022 were approximately ¥47.75 billion, an increase of 4.59% compared to the end of the previous year[5]. - Total liabilities as of Q3 2022 amounted to CNY 30.05 billion, an increase from CNY 28.86 billion in the previous year, marking a growth of about 4.1%[21]. - The company's total equity reached CNY 17.70 billion in Q3 2022, up from CNY 16.78 billion in Q3 2021, representing an increase of approximately 5.5%[21]. - The company's cash and cash equivalents were approximately 4.95 billion yuan, down from 5.08 billion yuan at the end of 2021[18]. - The company has a total of 27.15 billion yuan in current assets as of September 30, 2022, compared to 25.15 billion yuan in the previous year[19]. Cash Flow - The company reported a cash flow from operating activities of approximately ¥776.61 million for the year-to-date, a decrease of 14.88% compared to the previous year[5]. - The net cash flow from operating activities was CNY 776,612,056.49, down from CNY 912,343,158.63 in the previous year[25]. - The net cash flow from investing activities was CNY 973,721,152.06, a decrease from CNY 1,093,439,858.83 year-on-year[26]. - The net cash flow from financing activities was CNY -2,122,479,191.33, compared to CNY -844,648,950.68 in the same period last year[26]. - The company received CNY 243,033,224.28 in tax refunds, significantly higher than CNY 3,697,509.60 in the same period last year[25]. Production and Inventory - The total production of copper, zinc, and lead products reached 488,000 tons, a year-on-year increase of 15.18%[16]. - The production of cathode copper was 194,200 tons, up 40.22% year-on-year[16]. - The inventory value increased to approximately 14.07 billion yuan from 11.97 billion yuan year-on-year[19]. - The company recognized an inventory impairment of approximately ¥359 million and a foreign exchange loss of approximately ¥392 million due to the appreciation of the US dollar[5]. - The company reported a significant increase in gold production to 7,234 kg, a 37.91% increase year-on-year[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 146,693[12]. - The top shareholder, CITIC Guoan Group, holds 2.25 billion shares, representing 30.39% of the total shares[12]. Research and Development - Research and development expenses for the first three quarters of 2022 were CNY 44.23 million, an increase from CNY 38.06 million in the same period of 2021, showing a growth of about 16.3%[22]. Comprehensive Income - The company's other comprehensive income after tax for Q3 2022 was CNY 1.19 billion, a significant recovery from a loss of CNY 372.74 million in Q3 2021[23]. - The total comprehensive income for the period reached CNY 1,389,172,445.53, an increase of 55,188,842.65 compared to the previous period[24].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 42.87 billion, an increase of 29.91% compared to CNY 32.99 billion in the same period last year[15]. - The net profit attributable to shareholders was CNY 50.68 million, a significant recovery from a loss of CNY 67.67 million in the previous year[15]. - The basic earnings per share for the first half of 2022 was CNY 0.007, compared to a loss of CNY -0.009 in the same period last year[16]. - The diluted earnings per share also improved to CNY 0.007 from a loss of CNY -0.009 in the previous year[16]. - The company reported a significant increase in the net profit after deducting non-recurring gains and losses, reaching CNY 17.74 million compared to a loss of CNY -98.52 million last year[15]. - The total comprehensive income for the first half of 2022 was ¥1,042,499,828.93, significantly higher than ¥323,522,658.84 in the same period of 2021[119]. - The net profit for the first half of 2022 reached CNY 1,466,445,009.28, a significant increase compared to CNY 35,857,035.13 in the same period of 2021, reflecting a growth of approximately 4,000%[121]. - The total operating profit amounted to CNY 1,434,653,747.06, compared to CNY 40,784,754.34 in the previous year, indicating a substantial increase[121]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -255.83 million, a decline of 254.31% compared to a positive cash flow of CNY 165.79 million in the same period last year[15]. - Cash and cash equivalents increased to ¥7,237,297,247.94, a 42.57% increase from ¥5,076,395,452.82 in the previous period[39]. - The ending balance of cash and cash equivalents increased to 3,202,494,048.58 RMB from 1,268,566,383.13 RMB, indicating a significant improvement in liquidity[128]. - Cash flow from operating activities showed a net outflow of CNY 255,829,524.91, contrasting with a net inflow of CNY 165,791,287.41 in the first half of 2021[124]. - Investment activities generated a net cash inflow of CNY 1,526,046,484.96, compared to CNY 416,301,828.44 in the same period last year, showing a significant improvement[124]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 47.77 billion, up 4.65% from CNY 45.65 billion at the end of the previous year[15]. - The total liabilities at the end of the reporting period were 15,275,920,944.63 CNY[136]. - The company's total liabilities increased to ¥27,174,052,218.05 from ¥24,958,898,182.99, showing a rise of 8.9%[116]. - Long-term equity investments increased by 84.80% to ¥538,693,712.12, primarily due to additional investments in Gansu Defu Company[39]. - The total current assets increased to ¥28,393,871,564.52 from ¥25,154,573,705.20, reflecting a growth of approximately 8.7%[111]. Market Conditions and Economic Environment - In the first half of 2022, China's GDP growth was 2.5%, reflecting a rebound after significant economic challenges[20]. - The company faced challenges due to the COVID-19 pandemic and geopolitical tensions, impacting overall economic growth[20]. - The company noted a significant increase in inflation levels and a slowdown in global trade during the first half of 2022[20]. - The average USD index from January to June 2022 was 99.7205, an increase of 9.57% compared to the same period in 2021[21]. Production and Operations - The company produced 123,500 tons of copper, lead, zinc, and molybdenum concentrate in the first half of 2022, an increase of 3,200 tons or 2.66% year-on-year[29]. - The production of cathode copper reached 125,900 tons, up by 24,100 tons or 23.67% compared to the same period last year[29]. - The company has a production capacity of 200,000 tons of copper, 400,000 tons of lead and zinc, 15 tons of gold, and 500 tons of silver annually, showcasing its unique advantage in multi-variety non-ferrous metal production[25]. - The company has established a production capacity of 6.8 million tons per year for multi-metal selection in its subsidiary in Peru[25]. Research and Development - The company applied for 154 patents in the first half of 2022, including 60 invention patents, and completed 198 technology research and development projects[25]. - Research and development expenses increased by 57.85% to approximately ¥27.65 million, attributed to new R&D projects[36]. - The company has established 1 academician expert workstation and 17 technology innovation platforms, enhancing its innovation capabilities[31]. Environmental Management - The company has implemented a comprehensive environmental management system, ensuring that waste emissions from key subsidiaries meet regulatory standards[60]. - The company has strengthened its environmental safety responsibilities and is actively working on pollution control projects to promote sustainable development[60]. - The company has a public website for disclosing environmental information, ensuring transparency in its environmental impact assessments[75]. - The company has established a total of 188 sets of industrial waste gas pollution control facilities and 30 sets of industrial wastewater treatment facilities[67]. Legal and Compliance Issues - The company is involved in multiple ongoing lawsuits, including a significant case against Zhongtiao Mountain International, with a claim amount of RMB 125,651,109.06 for unpaid copper[89]. - The company has reported a loss of RMB 51,804,207.11 due to delayed delivery of copper in the aforementioned lawsuit[89]. - The first major shareholder, Guoan Group, is facing debt defaults and significant litigation issues, leading to the freezing of shares due to contract disputes[92]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[85]. Shareholder and Governance - The company has not disclosed any stock incentive plans or employee shareholding plans for the current period[59]. - The company has made progress in reducing coal usage and improving waste heat utilization to lower carbon emissions[78]. - The company has a commitment to not reduce its shareholding by more than 10% within 24 months after the lock-up period expires[81]. - The company has not proposed any profit distribution or capital reserve increase for the first half of 2022, with no dividends or stock bonuses planned[58].

Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of 81.74 million yuan, representing a 12.02% increase compared to 2020[20]. - The company's operating revenue for 2021 was approximately 72.28 billion yuan, an increase of 17.68% from 2020[20]. - The net cash flow from operating activities decreased by 32.19% to approximately 1.48 billion yuan in 2021[21]. - The total assets of the company at the end of 2021 were approximately 45.65 billion yuan, a decrease of 1.83% from the end of 2020[21]. - The net assets attributable to shareholders decreased by 6.71% to approximately 14.23 billion yuan at the end of 2021[21]. - Basic earnings per share increased by 10% to CNY 0.011 in 2021 compared to CNY 0.01 in 2020[22]. - The weighted average return on equity rose to 0.53% in 2021 from 0.5% in 2020, reflecting a slight improvement[22]. - The company reported a total revenue of CNY 20,375,459,050 in Q4 2021, marking a significant increase from previous quarters[24]. - The net profit attributable to shareholders in Q3 2021 was CNY 89,869,828, a recovery from a loss of CNY 71,688,958 in Q2 2021[24]. - The company reported a significant increase in revenue from other sectors, with a growth rate of 210.34%[77]. Profit Distribution - The company plans to distribute profits amounting to approximately 25.18 million yuan, which is 30.80% of the net profit attributable to shareholders for the year[4]. - The profit distribution plan is subject to approval at the company's shareholders' meeting[4]. - The company distributed a cash dividend of 0.03 yuan per 10 shares, totaling 22,214,323.53 yuan, which represents 30.44% of the net profit attributable to the parent company for the year[179]. - The cash dividend policy stipulates that at least 10% of the distributable profit for the year must be distributed in cash[179]. - The company’s profit distribution policy emphasizes reasonable returns to investors while ensuring sustainable development[177]. Production and Operations - The company's production of copper, lead, zinc, and molybdenum metals reached 242,000 tons in 2021, an increase of 49,600 tons or 25.78% year-on-year[33]. - The smelting system produced a total of 570,300 tons of copper, lead, and zinc products, up by 20,200 tons or 3.67% compared to the previous year[34]. - The production of cathode copper was 186,100 tons, an increase of 2,800 tons or 1.5% year-on-year[34]. - The company achieved an increase in lead production by 43,000 tons or 28.5% year-on-year due to an increase in the number of electrolytic lead slots[34]. - The total output of refined copper, lead, zinc, and molybdenum metals reached 242,000 tons, with refined copper at 48,300 tons, zinc at 172,500 tons, lead at 21,000 tons, and molybdenum at 216 tons[69]. Research and Development - In 2021, the company undertook 67 key technology research and development projects, resulting in 19 various technology awards[37]. - Research and development expenses surged by 106.13% to ¥62.71 million, reflecting the company's commitment to innovation[71]. - The company has applied for 217 patents in 2021, with 92 being invention patents, accounting for 42.4% of the total[54]. - The company is focused on enhancing innovation capabilities and establishing a stable growth mechanism for R&D investment[126]. Environmental Responsibility - The company paid an environmental tax of 3.221 million yuan in 2021, in compliance with local regulations[40]. - The company actively manages environmental responsibilities, implementing a tiered supervision and clear accountability system for pollution control[189]. - The company has implemented a green and low-carbon sustainable development model, integrating environmental safety with stable production[189]. - The company has established a comprehensive environmental management system to address environmental risks and enhance pollution control measures[189]. Market and Competitive Position - The company ranked 333rd among the top 500 manufacturing enterprises in China and 22nd among the top 50 non-ferrous metal companies by revenue[48]. - The company's market share in domestic copper, lead, and zinc reached 2.6%, 0.3%, and 4.3% respectively, indicating strong competitive positioning[64]. - The average price of LME-3M copper in 2021 was $9,293.5 per ton, a 50% increase compared to the average price in 2020[46]. - The average price of LME-3M zinc in 2021 was $3,005.9 per ton, reflecting a year-on-year increase of 31.90%[46]. Strategic Initiatives - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency[106]. - The company aims to utilize risk hedging tools such as futures and options to mitigate the adverse effects of price fluctuations on its operational goals[131]. - The company is committed to green manufacturing in response to increasing environmental pressures and national carbon neutrality goals, focusing on energy-saving and environmentally friendly technologies[130]. - The company plans to enhance its procurement strategy by increasing the proportion of domestic and foreign mining purchases and signing long-term strategic cooperation agreements to ensure stable supply[131]. Governance and Management - The company has established a comprehensive corporate governance structure in compliance with relevant laws and regulations, ensuring effective decision-making and oversight[134]. - The company emphasizes investor relations by maintaining communication through various channels to enhance understanding and protect shareholder rights[136]. - The company has undergone several changes in its board and supervisory committee, indicating a focus on governance and leadership stability[159]. - The company held four temporary shareholder meetings in 2021, with key proposals including the approval of the 2021 annual guarantee plan and the "14th Five-Year" development plan[137][138]. Employee Engagement and Compensation - The company reported a total of 14,853 employees, with 8,664 in the parent company and 6,189 in major subsidiaries[172]. - The employee composition includes 10,952 production personnel, 1,321 technical personnel, and 2,250 administrative personnel[172]. - The total compensation for the company's executives amounted to 746.87 million, with a significant portion of 68.92 million allocated for performance bonuses[142]. - The company has seen a consistent increase in employee engagement, with a notable 4.91 million in employee-related expenses[142].

Financial Performance - The company achieved a net profit attributable to the parent company of 81.7405 million yuan in 2021, with a proposed profit distribution of 0.034 yuan per share, totaling approximately 25.1762 million yuan, representing 30.80% of the annual net profit[2]. - The company's operating revenue for 2021 was RMB 72,279,980,189.03, representing a 17.68% increase compared to RMB 61,422,700,839.27 in 2020[12]. - The net profit attributable to shareholders for 2021 was RMB 81,740,501.90, a 12.02% increase from RMB 72,966,530.06 in 2020[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 21,769,357.75, compared to a loss of RMB 32,337,286.20 in 2020, indicating a significant recovery[12]. - The total assets at the end of 2021 were RMB 45,649,608,177.34, a decrease of 1.83% from RMB 46,500,874,193.54 at the end of 2020[14]. - The basic earnings per share for 2021 was RMB 0.011, reflecting a 10.00% increase from RMB 0.01 in 2020[15]. - The weighted average return on equity for 2021 was 0.53%, slightly up from 0.5% in 2020[15]. - The total operating cost for 2021 was approximately ¥69.14 billion, reflecting a 17.19% increase from ¥58.99 billion in the previous year[48]. - The company reported a significant increase in sales volume of zinc and sulfuric acid, contributing to the rise in operating revenue[48]. Production and Operations - The company produced 242,000 tons of metal concentrate in 2021, an increase of 49,600 tons or 25.78% year-on-year[24]. - The smelting system produced a total of 570,300 tons of copper, lead, and zinc products, up by 20,200 tons or 3.67% compared to the previous year[24]. - The company achieved a production of 186,100 tons of cathode copper, an increase of 2,800 tons or 1.5% year-on-year[24]. - The company produced a total of 24.2 million tons of metal, including 48,300 tons of copper, 172,500 tons of zinc, 21,000 tons of lead, and 216 tons of molybdenum in 2021[47]. - The company has established a production capacity of 6.8 million tons per year for copper, zinc, and iron at its subsidiary in Peru[40]. - The company has a production capacity of 200,000 tons of copper, 400,000 tons of lead and zinc, 15 tons of gold, and 500 tons of silver annually, showcasing its unique advantage in multi-variety non-ferrous metal production[40]. Research and Development - In 2021, the company undertook 67 key technology research and development projects, receiving 19 various technology awards[26]. - The company applied for 217 patents in 2021, with 92 being invention patents, accounting for 42.4% of the total[38]. - Research and development expenses surged by 106.13% to approximately ¥62.71 million, compared to ¥30.42 million in the previous year[48]. - The company has a total of 869 R&D personnel, accounting for 5.82% of the total workforce[65]. - The company is investing 100 million CNY in research and development for new technologies over the next two years[105]. Environmental Responsibility - The company reported a total pollutant discharge of 5.6647 tons for COD, which is below the annual limit of 40 tons[134]. - The company has established a comprehensive environmental management system to enhance pollution control and ensure compliance with national standards[133]. - The third smelting plant has achieved 100% recycling of wastewater, demonstrating a commitment to sustainable practices[133]. - The company has implemented a total of 186 sets of industrial waste gas pollution prevention facilities and 30 sets of industrial wastewater treatment facilities[141]. - The company has actively implemented pollution control measures and continuously monitored the operation of pollution prevention facilities[141]. Corporate Governance - The company has confirmed that there are no non-operating fund occupations by controlling shareholders and their related parties[2]. - The company has not violated regulatory decision-making procedures for providing guarantees[2]. - The company’s financial report has been audited by Yongtuo Accounting Firm, which issued a standard unqualified audit opinion[2]. - The company has established a management system for insider information to ensure compliance and confidentiality[92]. - The company has a structured approach to risk management, including measures to address potential conflicts of interest with controlling shareholders[93]. Market and Industry Outlook - The company anticipates a stable overall economic environment in China, with improvements in terminal consumption and fixed asset investment expected to support the non-ferrous metal industry[84]. - The company projects that copper prices will maintain a high and wide fluctuation trend due to sufficient supply and recovering global consumption[84]. - The company expects zinc prices to exhibit a high-level fluctuation pattern, influenced by tight supply and recovering domestic consumption[84]. - The company is facing significant downward pressure in the industry, despite a stable domestic economic outlook[84]. - The company is focusing on innovation-led high-quality development, emphasizing traditional industry upgrades and enhancing core competitiveness[85]. Employee and Community Engagement - The company invested 2.6645 million yuan to assist 933 disadvantaged employees and conducted health checks for 4,439 special position employees[33]. - The company donated CNY 8.63 million to support local disaster recovery and social charity initiatives, including CNY 6 million for post-disaster reconstruction in Cheng County[154]. - The company organized 169 personnel from 45 support units to assist 830 households, providing nearly CNY 100,000 in winter supplies[156]. - The company has engaged in community support activities, including voluntary blood donations from 1,052 employees across 18 subsidiaries[154]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 169,979, an increase from 157,352 at the end of the previous month[190]. - There were no changes in the total number of shares or share capital structure during the reporting period[188]. - Citic Guoan Group holds 2,250,000,000 shares, accounting for 30.39% of the total share capital, making it the largest single shareholder[196]. - The company does not have an actual controller, as no single party can exert control over the company[199]. - The top ten shareholders do not have any repurchase accounts or voting rights delegation arrangements[194].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 32,996,987,724.51, representing a 29.66% increase compared to CNY 25,448,796,213.12 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was a loss of CNY 67,670,863.08, an improvement from a loss of CNY 455,435,044.84 in the previous year[15]. - The net cash flow from operating activities decreased by 91.15%, amounting to CNY 165,791,287.41 compared to CNY 1,873,028,376.69 in the same period last year[15]. - The total assets of the company increased by 2.04%, reaching CNY 47,447,389,972.08 compared to CNY 46,500,874,193.54 at the end of the previous year[15]. - The basic earnings per share for the first half of 2021 was -0.009 CNY, an improvement from -0.062 CNY in the same period last year[16]. - The weighted average return on net assets increased by 2.95 percentage points, reaching -0.44% compared to -3.39% in the previous year[16]. - The company's operating revenue for the reporting period was approximately ¥32.997 billion, an increase of 29.66% compared to ¥25.449 billion in the same period last year[42]. - Operating costs rose to approximately ¥31.526 billion, reflecting a 26.05% increase from ¥25.012 billion, primarily due to increased sales of zinc and sulfuric acid, as well as rising prices of copper and purchased aluminum[42]. - The company reported a total revenue of 1,619,206,193.96 CNY for the first half of 2021, with a net profit of 91,177,440.23 CNY, reflecting a strong performance in the production and sales of electrolytic copper foil and its derivatives[56]. Market Conditions - The average price of copper in the first half of 2021 was ¥66,669 per ton, an increase of 50.19% compared to the same period in 2020[21]. - The average price of zinc in the first half of 2021 was ¥21,576 per ton, reflecting a 30.50% increase year-on-year[21]. - The average price of lead in the first half of 2021 was ¥15,178 per ton, up 6.19% from the previous year[21]. - The average price of gold in the first half of 2021 was ¥378.37 per gram, a 2.33% increase compared to the same period in 2020[21]. - The average price of silver in the first half of 2021 was ¥5,420.79 per kilogram, which is a 35.55% increase year-on-year[21]. - The company reported a significant fluctuation in metal prices due to changes in monetary policy and market conditions[21]. - The company anticipates continued volatility in metal prices influenced by global economic recovery and policy adjustments[21]. - The company faced market environment risks due to the cyclical nature of the non-ferrous metal industry, which is closely tied to macroeconomic conditions, impacting product prices and profitability[57]. Production and Capacity - The company produced 120,300 tons of copper, lead, zinc, and molybdenum metals in the first half of 2021, an increase of 46% year-on-year, with copper concentrate rising by 62.25% to 24,500 tons[33]. - The smelting system produced 101,800 tons of cathode copper, a 9.34% increase year-on-year, and 10,600 tons of lead, up 73.77%[33]. - The company's copper production capacity is 200,000 tons per year, with lead and zinc production capacity at 400,000 tons, and gold and silver production capacities at 15 tons and 500 tons respectively[26]. - The company has established a production capacity of 6.8 million tons per year for multi-metal selection in Peru[25]. - The company has built a battery-grade high-end copper foil project with a production line of 12,000 tons, which is now in operation, filling a gap in the local industry[27]. Research and Development - The company applied for 130 patents in the first half of 2021, with 41 being invention patents, accounting for 31.5% of the total[25]. - Research and development expenses increased by 80.22% to approximately ¥17.519 million, up from ¥9.721 million, indicating a significant investment in innovation[42]. - The company has developed a new process for comprehensive recovery of copper, cadmium, and cobalt from zinc smelting slag, enhancing resource utilization[25]. - The company has established 1 academician expert workstation and 17 technology innovation platforms, including 2 national-level and 11 provincial-level platforms[34]. Environmental Responsibility - The company has implemented an environmental management model that includes pollution control and risk assessment, with key subsidiaries identified as major polluters[67]. - The company has strengthened its environmental responsibilities and management systems to align with national environmental laws and standards[67]. - The company has conducted a review of its environmental risks and has taken steps to enhance its pollution control facilities[67]. - The company achieved a 100% comprehensive utilization rate for solid waste such as smelting slag and anode mud, with hazardous waste being either self-utilized or disposed of by qualified enterprises[73]. - The company has constructed 186 sets of industrial waste gas pollution prevention facilities and 30 sets of industrial wastewater treatment facilities, ensuring compliance with environmental standards[73]. Legal and Compliance - The company reported a significant legal dispute involving a sales contract with Shanghai Honglu, with a claim amounting to RMB 125,651,109.06 for undelivered copper[90]. - The company has committed to not engage in any competitive business activities that could harm the interests of its shareholders, ensuring compliance with relevant regulations[88]. - The major shareholder, Guoan Group, has faced liquidity issues leading to debt defaults and ongoing litigation, which may impact the company's operations[93]. - The company has not reported any significant related party transactions that could affect its financial standing[88]. Employee and Talent Management - The company has a total of 7,323 employees, with 49.3% being various types of talents, including 3,205 professional technical talents[30]. - The company has a dynamic talent management system, with a focus on attracting and cultivating high-end professionals in various engineering fields[31]. Financial Management - The company's cash and cash equivalents at the end of the period amounted to approximately ¥4.666 billion, representing a 39.66% increase from ¥3.341 billion[45]. - The financial expenses decreased by 43.78% to approximately ¥355.430 million, down from ¥632.265 million, due to reduced interest expenses and increased foreign exchange gains[42]. - The company reported a significant increase in contract liabilities, which rose by 138.81% to approximately ¥2.174 billion, reflecting higher prepayments received for products[45]. - The total amount of related party transactions for the current period is CNY 40,891,328.16, compared to CNY 91,557,810.52 in the previous period[95]. Risk Management - The company has implemented a comprehensive risk management system, establishing a three-tier risk prevention framework[35]. - The company is currently implementing a 6.8 million tons/year tailings comprehensive utilization expansion project, with construction underway on the main plant[33]. - The company is actively managing its debt and risk exposure in light of recent financial challenges faced by its major shareholder[93]. Corporate Governance - The company held its first temporary shareholders' meeting on March 2, 2021, where several proposals were approved, including daily related transactions and comprehensive credit applications[59]. - The company announced changes in its board and management personnel, including the election of Wang Bin as General Manager and the appointment of new independent directors[62]. - The company has appointed new board members and independent directors following recent resignations[63].