证券代码：000060 证券简称：中金岭南 深圳市中金岭南有色金属股份有限公司 投资者关系活动记录表 编号：2014-02 | --- | --- | --- | |----------------|----------------------------|----------------------------------------------------------| | | | | | 投资者关系活动 | □ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | √ 其他 广发证券 | 2014 年中期策略会 | | 参与单位名称及 | 广发证券等 | | | | | | | 人员姓名 | | | | 时间 | 2014 年 8 月 27-29 | 日 | | 地点 | 无锡 | | | 上市公司接待人 | 证券部总经理 | | | 员姓名 | | | | 投资者关系活动 | 一、公司 2014 | 年半年度经营情况 | | 主要内容介绍 | 2014 | 年以来，世界经济呈现恢复性 ...

Group 1: Market Overview - The global economic situation remains complex with significant uncertainty, impacting commodity prices, particularly in the metals sector [1] - The supply and demand dynamics for zinc are slightly better than for lead, indicating a more favorable outlook for zinc [1] Group 2: Financial Performance - In 2015, the company reported a total revenue of 1,672,477.43 million CNY with a gross profit margin of 5.77% [4] - The revenue from lead, zinc, and copper mining, smelting, and sales was 499,970.49 million CNY, with a gross margin of 15.34% [3] - The aluminum, nickel, and zinc processing and sales generated revenue of 127,012.41 million CNY, with a gross margin of 11.11% [3] Group 3: Stock Issuance - The company approved a non-public stock issuance plan during the board meeting on February 16, 2016, and it was subsequently ratified at the shareholders' meeting on June 3, 2016 [2]

Group 1: Investment Projects - The company plans to invest CNY 680 million in the "Tailings Resource Comprehensive Recovery and Environmental Governance Development Project," which will have a processing capacity of 600 tons per day for lead-zinc tailings [3][4] - CNY 500 million will be allocated to three new material projects: "High-Performance Composite Metal Materials Project," "High-Power Mercury-Free Battery Zinc Powder and Its Comprehensive Utilization Project," and "New Materials R&D Center Project" [3][4] - CNY 190 million is designated for the construction of a "Nonferrous Metal Commodity Pricing and Online Trading Platform," aimed at modernizing the company's business model [3][4] - CNY 580 million will be used to supplement working capital, enhancing the company's operational liquidity and risk resilience [3][4] Group 2: Previous Fundraising - In February 2015, the company issued 149,687,058 shares through a private placement, raising a total of CNY 1.272 billion [4][5] - As of January 31, 2016, CNY 534 million of the raised funds had been utilized, with the newly issued restricted shares released from restrictions on March 18, 2016 [4][5] Group 3: Market Outlook - The company acknowledges the complex global economic situation and the uncertainty affecting commodity prices, particularly in the context of metal trends [5] - The supply-demand situation for zinc is slightly better than that for lead, with increased volatility expected in the lead-zinc market this year [5]

Production Overview - Domestic mine production of lead and zinc concentrate metal amounted to 95,300 tons, with sulfur concentrate at 39,000 tons, and silver content at 46.02 tons [2] - Foreign production of lead and zinc concentrate metal reached 67,800 tons, with silver content at 25.85 tons; copper concentrate contained 4,442 tons; and gold metal amounted to 117 kg [3] - Major smelting products produced included 125,600 tons of lead and zinc smelting products and 105,400 tons of sulfuric acid [3] - Other industrial products included 182,300 square meters of aluminum doors and windows, 9,205 tons of aluminum profiles, and 4,566 tons of battery zinc powder [3] Financial Performance - Total operating income was CNY 5,786,458,659.80, with operating costs at CNY 5,251,783,371.08, resulting in a gross margin of 9.24% [4] - Breakdown of operating income by industry: - Lead, zinc, copper mining, smelting, and sales: CNY 2,500,598,165.94 (Gross margin: 17.15%) - Aluminum, nickel, zinc processing and sales: CNY 622,450,778.12 (Gross margin: 13.06%) - Real estate development: CNY 14,481,200.00 (Gross margin: 34.22%) - Non-ferrous metal trading: CNY 2,656,429,288.75 (Gross margin: 0.12%) [4] Market Trends - Zinc metal prices dropped from CNY 15,000 per ton in January to around CNY 12,000 per ton, leading to widespread losses in the zinc industry during the first quarter [5] - Prices rebounded to approximately CNY 18,000 per ton in the second quarter, positively impacting company profitability [5] - The company reported a net profit of CNY 97 million in the second quarter [5] Fundraising Projects - The company plans to invest CNY 680 million in tailings resource recovery and environmental management projects, which will enhance its processing capacity [6] - An investment of CNY 500 million is allocated for high-performance composite metal materials and high-power mercury-free battery zinc powder projects [6] - CNY 190 million is designated for the establishment of a non-ferrous metal pricing and online trading platform [6] - CNY 580 million will be used to supplement working capital, improving the company's financial structure and risk resilience [6] Regulatory Approvals - The company received approval for its non-public stock issuance plan from the board and shareholders in 2016, with ongoing regulatory review by the China Securities Regulatory Commission [7]

Financial Performance - Operating revenue for Q3 2022 was CNY 11,079,608,949.28, a decrease of 7.45% compared to the same period last year, while year-to-date revenue increased by 46.15% to CNY 46,896,513,940.25[4] - Net profit attributable to shareholders for Q3 2022 was CNY 196,884,022.07, down 39.88% year-on-year, with a year-to-date net profit of CNY 1,045,722,324.44, an increase of 5.62%[4] - Basic earnings per share for Q3 2022 was CNY 0.05, a decrease of 44.44% compared to the same period last year[4] - The total comprehensive income for Q3 2022 was CNY 1,597.72 million, significantly higher than CNY 875.73 million in Q3 2021, marking an increase of approximately 82.5%[42] - The total profit before tax for Q3 2022 was CNY 1,195.39 million, a decrease from CNY 1,247.01 million in Q3 2021, reflecting a decline of about 4.1%[41] Assets and Liabilities - Total assets at the end of Q3 2022 reached CNY 31,753,777,755.28, representing a 15.03% increase from the end of the previous year[4] - Total liabilities increased to ¥16,373,046,591.77 from ¥13,840,328,999.87, representing a growth of around 18.3%[38] - The company's equity attributable to shareholders reached ¥14,848,478,127.37, up from ¥13,249,589,237.49, indicating an increase of approximately 12.0%[38] - The total liabilities to equity ratio stands at approximately 1.07, indicating a balanced leverage position[38] Cash Flow - The company’s cash flow from operating activities decreased by 24.70% year-to-date, totaling CNY 850,342,988.99[4] - The company reported a net cash inflow from operating activities of CNY 850.34 million, down from CNY 1,129.28 million in Q3 2021, reflecting a decrease of about 24.6%[43] - The cash and cash equivalents at the end of Q3 2022 amounted to CNY 4.11 billion, up from CNY 2.17 billion at the end of Q3 2021, representing an increase of about 89.2%[45] - The company recorded a total investment cash outflow of CNY 3.33 billion, compared to CNY 5.36 billion in the previous year, indicating a decrease of approximately 37.8%[45] Operating Costs and Expenses - The company’s operating costs for Q3 2022 increased by 47.60% year-on-year, mainly due to the expansion of non-ferrous metal trading business[23] - The company’s financial expenses increased by 39.86% year-on-year, primarily due to increased interest expenses from expanded loan scales[24] - Non-operating expenses increased by 365.28% year-on-year, primarily due to increased losses from the scrapping of non-current assets[25] - Income tax expenses decreased by 39.98% year-on-year, mainly due to a reduction in deferred income tax expenses[25] Investments and Income - The company reported a significant increase in contract assets, which rose by 346.45% compared to the beginning of the year, attributed to an increase in receivable rights[13] - Investment income decreased by 76.50% year-on-year, mainly due to reduced investment income from the disposal of trading financial assets[25] - Other income increased by 199.73% year-on-year, primarily due to an increase in government subsidies related to revenue[25] - The company reported a net investment income of ¥62,839,848.25, down from ¥267,390,320.59, indicating a decrease of approximately 76.6%[39] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 149,257[27] - The largest shareholder, Guangdong Guangsheng Holdings Group Co., Ltd., holds 34.87% of the shares, totaling 1,303,420,036 shares[27] Research and Development - Research and development expenses for the period were ¥267,619,065.32, compared to ¥227,550,069.01 in the previous period, reflecting an increase of about 17.6%[39] Other Financial Metrics - The company experienced a foreign exchange loss of CNY 32,473.02, which impacted the overall financial performance[41] - The company reported a significant increase in other comprehensive income, with a net amount of CNY 535.42 million compared to a loss of CNY 149.54 million in the previous year[41]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 35,816,904,990.97, representing a 78.05% increase compared to CNY 20,116,312,951.40 in the same period last year[26]. - Net profit attributable to shareholders was CNY 848,838,302.37, up 28.10% from CNY 662,648,985.77 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was CNY 821,855,287.95, reflecting a 32.08% increase compared to CNY 622,245,093.27 in the previous year[26]. - The company's total assets increased by 9.22% to CNY 30,149,992,251.90 from CNY 27,604,131,314.00 at the end of the previous year[26]. - The weighted average return on equity rose to 6.09%, an increase of 4.01 percentage points compared to 2.08% in the same period last year[26]. - Basic earnings per share increased by 21.05% to CNY 0.23 from CNY 0.19 in the previous year[26]. - The company reported a net cash flow from operating activities of CNY 490,678,822.46, down 41.55% from CNY 839,512,375.82 in the same period last year[26]. - The operating costs increased to CNY 34.17 billion, up 80.52% year-on-year, primarily due to the growth in non-ferrous metal trading business[55]. - The company reported a significant increase in cash and cash equivalents, with a net increase of CNY 1.79 billion, up 507.90% year-on-year[55]. Investment and Development - The company’s investment in research and development focuses on green and low-carbon technologies, enhancing its competitive advantage[50]. - The company has committed to invest a total of 532,452,000 CNY in various projects, with 408,936,830 CNY already utilized, representing 76.8% of the total commitment[92]. - The company has participated in the bankruptcy reorganization of 20 companies, including Dongying Fangyuan Nonferrous Metals Co., Ltd., and has been confirmed as a reorganization investor[179]. - The total investment amount for the reorganization is RMB 3.605 billion, with RMB 2.999 billion allocated for acquiring 65.87% of the new Lufang Metal Co., Ltd.[183]. Risk Management - The company has outlined potential risks and corresponding measures in the report, emphasizing the importance of investor awareness regarding investment risks[5]. - The company has faced risks including policy changes that could impact the mining industry, which are closely monitored to ensure compliance with national regulations[102]. - The company is exposed to macroeconomic fluctuations that could affect demand for its products, necessitating flexible operational strategies[103]. - The company has established a professional team to monitor market trends and mitigate risks associated with price volatility in non-ferrous metals[104]. Environmental and Safety Measures - The company has implemented strict safety and environmental measures, particularly in response to the COVID-19 pandemic, ensuring normal operations[107]. - The company has implemented pollution prevention facilities that operate stably, focusing on reducing wastewater generation and improving water reuse rates[121]. - The company has established emergency response plans for environmental risks, including hazardous chemical storage and tailings ponds, and conducted training and drills[123]. - The company has paid environmental taxes on time, fulfilling its social responsibilities[122]. - The company reported zero environmental incidents and maintained compliance with wastewater and air emissions standards[131]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The company has not reported any significant impairment risks for its overseas assets[63]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[140]. - The company has not reported any changes in the use of raised funds during the reporting period[95]. Subsidiaries and Operations - Major subsidiaries contributing over 10% to net profit include Hong Kong Shenye Company with a net profit of CNY 3,356,729.84, and Guangxi Zhongjin Company with a net profit of CNY 85,050,361.06[99]. - The company’s subsidiary Perilya Limited reported total assets of CNY 7,251,664,576.44 and a net profit of CNY 110,098,365.39[99]. - The company has a production capacity of 300,000 tons of metal for lead and zinc mining and processing annually[35]. - In the first half of 2022, the company produced 136,200 tons of lead and zinc metal, a year-on-year decrease of 3.51%[46]. Financial Management - The company has entrusted financial management with a total amount of 230,557 million, including 195,557 million in bank financial products and 35,000 million in securities firm financial products[169]. - The outstanding balance of entrusted financial management is 77,557 million, with no overdue amounts reported[169]. - The company has a good liquidity position with all derivative contracts being futures contracts, which are liquid and managed under strict risk control measures[81]. - The company has maintained a good credit standing with brokerage firms, minimizing credit risk in its derivative positions[81].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 35,816,904,990.97, representing a 78.05% increase compared to CNY 20,116,312,951.40 in the same period last year[26]. - Net profit attributable to shareholders was CNY 848,838,302.37, up 28.10% from CNY 662,648,985.77 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was CNY 821,855,287.95, reflecting a 32.08% increase compared to CNY 622,245,093.27 in the previous year[26]. - Basic earnings per share increased by 21.05% to CNY 0.23 from CNY 0.19 in the same period last year[26]. - The weighted average return on equity improved to 6.09%, an increase of 4.01 percentage points compared to 2.08% in the previous year[26]. - The company achieved operating revenue of CNY 35.82 billion, a year-on-year increase of 78.05% due to the growth in non-ferrous metal trading business[57]. - The net profit attributable to shareholders reached CNY 848 million, representing a year-on-year growth of 28%[57]. - The operating cash flow decreased by 41.55% to CNY 490.68 million, primarily due to an increase in accounts receivable and inventory[57]. Assets and Liabilities - The company's total assets increased by 9.22% to CNY 30,149,992,251.90 from CNY 27,604,131,314.00 at the end of the previous year[26]. - The net assets attributable to shareholders rose by 7.85% to CNY 14,289,724,194.88 from CNY 13,249,589,237.49 at the end of the previous year[26]. - The company’s cash and cash equivalents increased by 507.90% to CNY 1.79 billion, driven by higher cash flows from investment and financing activities[57]. - The company’s short-term borrowings increased by 4.20% to CNY 5.41 billion, reflecting a rise in financing activities[62]. - The company reported a total of ¥2,746,140,401.07 in restricted assets, including cash and cash equivalents of ¥152,919,012.14 due to environmental performance guarantees[70]. Production and Operations - The company has a production capacity of 300,000 tons of metal from lead and zinc mining and processing annually[36]. - In the first half of 2022, the company produced 136,200 tons of lead and zinc metal, a year-on-year decrease of 3.51%[48]. - The company’s smelting enterprises produced 168,600 tons of lead and zinc products, remaining stable compared to the previous year[48]. - The company produced 10,620 tons of industrial sulfuric acid and 1,640 tons of sulfur in the first half of 2022[48]. Investment and Financial Operations - The company’s investment income from the disposal of trading financial assets was -3,833,385.50 yuan, indicating a strategic focus on financial operations[34]. - The company’s investment income was CNY 26.21 million, accounting for 2.66% of total profit, indicating sustainable earnings[61]. - The total investment amount for the reporting period was ¥523,355,928.12, a decrease of 77.78% compared to ¥2,355,085,654.43 in the same period last year[71]. - The company has committed to invest a total of 532,452,000 CNY in various projects, with 408,936,830 CNY already utilized, representing 76.8% of the total commitment[96]. Environmental Compliance and Safety - The company is committed to enhancing safety and environmental standards, implementing measures to ensure compliance with national regulations[111]. - The company reported a total wastewater discharge of 100.045 tons for COD, 3.48 tons for ammonia nitrogen, and 0.1074 tons for total lead, with all emissions meeting the required standards[120]. - The total emissions for the Shaoguan Smelting Plant included 13.5192 tons of particulate matter and 52.6084 tons of SO2, with no exceedances reported[120]. - The company has implemented pollution prevention facilities that operate stably, focusing on reducing wastewater generation and improving water reuse rates[125]. - The company has adhered to the "three simultaneous" system for environmental impact assessments, ensuring that pollution control facilities are designed, constructed, and put into operation concurrently with main projects[126]. - The company has developed emergency response plans for environmental incidents, including training and drills conducted in 2022[127]. - The company reported zero environmental incidents and maintained compliance with wastewater and air emissions standards[135]. Risk Management - The company has outlined potential risks and corresponding measures in the report, emphasizing the importance of investor awareness regarding investment risks[5]. - The company has faced risks related to policy changes in the non-ferrous metals industry, which could impact its operations and profitability[106]. - The company is actively monitoring macroeconomic trends, as fluctuations could affect demand for its products and overall financial performance[107]. - The company established a specialized team to mitigate risks associated with price volatility in non-ferrous metals, enhancing its market research and marketing strategies[108]. Related Party Transactions - The company reported a total of 493.64 million yuan in material procurement from a related party, accounting for 100% of similar transaction amounts[146]. - The company generated 7,949.31 million yuan from aluminum profile sales to a related party, representing 22.03% of similar transaction amounts[146]. - The company rented factory space to a related party for 254.14 million yuan, which is 100% of similar transaction amounts[146]. - The company provided property management services to a related party for 117.99 million yuan, also accounting for 100% of similar transaction amounts[146]. Shareholder and Capital Management - The total number of shares increased from 3,650,034,613 to 3,737,542,102 due to the conversion of convertible bonds, impacting basic earnings per share from 0.2326 yuan to 0.2271 yuan[199]. - The net asset value per share for ordinary shareholders decreased from 3.91 yuan to 3.82 yuan as a result of the share increase[199]. - The company issued 38 million convertible bonds in 2020, totaling 3.8 billion yuan, which are now listed on the Shenzhen Stock Exchange[196]. - The company has a significant number of restricted shares, with various executives having their shares released according to specific timelines[200].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 14,705,155,163.65, representing a 61.62% increase compared to CNY 9,098,371,817.17 in the same period last year[6] - Net profit attributable to shareholders was CNY 332,541,868.93, up 29.58% from CNY 256,638,801.01 year-on-year[6] - The net profit after deducting non-recurring gains and losses was CNY 337,411,997.92, reflecting a 54.74% increase from CNY 218,055,036.91 in the previous year[6] - Basic earnings per share rose to CNY 0.09, a 28.57% increase from CNY 0.07 in the same period last year[6] - The net profit for the first quarter was approximately CNY 336.31 million, an increase of 19.6% compared to CNY 281.25 million in the same period last year[39] - The total revenue from operating activities reached CNY 15.52 billion, up from CNY 9.74 billion, reflecting a growth of 59.5% year-over-year[43] - The basic earnings per share increased to CNY 0.09 from CNY 0.07, representing a growth of 28.6%[42] - The company reported a total comprehensive income of CNY 161.22 million, a decrease from CNY 342.78 million in the same quarter last year[42] Assets and Liabilities - The company's total assets increased by 9.80% to CNY 30,310,299,217.24 from CNY 27,604,131,314.00 at the end of the previous year[6] - Total liabilities increased to ¥16,379,266,159.65 from ¥13,840,328,999.87, which is an increase of about 18.3%[32] - The company's total assets increased to ¥30,310,299,217.24 from ¥27,604,131,314.00, reflecting a growth of about 9.2%[35] Cash Flow - Cash flow from operating activities decreased by 49.35% to CNY 139,928,936.55, down from CNY 276,293,003.43 year-on-year[6] - The cash flow from operating activities generated a net inflow of CNY 139.93 million, down from CNY 276.29 million in the previous year[46] - The company's cash and cash equivalents at the end of the period amounted to RMB 4.28 billion, compared to RMB 1.78 billion at the beginning of the year[26] - The company's cash and cash equivalents at the end of the period amounted to CNY 4.12 billion, an increase from CNY 2.36 billion year-over-year[46] Income and Expenses - The company reported a 62.47% increase in operating costs, primarily due to the expansion of non-ferrous metal trading activities[17] - Interest income increased by 48.31%, attributed to higher interest income from the subsidiary, Zhongjin Futures Company[17] - The company experienced a significant increase in commission income by 320.54%, also driven by the performance of Zhongjin Futures Company[17] - Income tax expenses increased by 51.91% year-on-year, mainly due to an increase in total profit compared to the previous year[18] - Minority shareholders' profit decreased by 84.71% year-on-year, primarily due to a decrease in profits of the controlling subsidiary[18] - Research and development expenses decreased slightly to ¥43,964,553.16 from ¥45,232,661.87, a reduction of about 2.8%[36] - Research and development expenses increased by 30% to support innovation initiatives[50] Other Income and Investments - Other income increased by 131.95% year-on-year, mainly due to an increase in government subsidies related to income recognized in the current period[18] - Investment income decreased by 93.22% year-on-year, primarily due to the recognition of investment income from the disposal of Huake Company's equity in the previous period[18] - The fair value change income increased by 349.96% compared to the same period last year, mainly due to an increase in fair value change losses of trading financial assets[18] - Asset disposal income decreased by 115.78% compared to the same period last year, primarily due to a decrease in non-current asset disposal gains[18] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 159,214, with the largest shareholder holding 32.88% of the shares[21] - The company issued 38 million convertible bonds with a total fundraising amount of RMB 3.8 billion, with a net amount of RMB 3.78 billion after deducting related issuance costs[24] - As of March 31, 2022, the cumulative number of shares converted from the convertible bonds was 80,359,399, with 34,279,077 convertible bonds remaining[25] Future Outlook and Strategic Initiatives - The company provided a future outlook with a revenue growth guidance of 10-12% for the next quarter[50] - New product development includes the launch of a high-efficiency metal recycling technology expected to reduce costs by 25%[50] - Market expansion plans include entering two new international markets by the end of 2022, targeting a 5% market share in each[50] - The company is exploring potential acquisitions in the renewable energy sector to diversify its portfolio[50] - The company plans to enhance its supply chain management to reduce lead times by 15%[50] - Strategic partnerships with local suppliers are expected to increase procurement efficiency by 20%[50] User and Market Data - User data showed an increase in active users by 20% compared to the previous quarter, reaching 5 million active users[50] - The gross margin improved to 35%, up from 30% in the previous year, due to operational efficiencies[50]

Financial Performance - The company's operating revenue for 2021 was ¥44,449,218,923.89, representing a 47.06% increase from ¥30,226,130,783.30 in 2020[30]. - The net profit attributable to shareholders for 2021 was ¥1,171,686,790.09, up 17.75% from ¥995,096,765.96 in 2020[30]. - The net profit after deducting non-recurring gains and losses was ¥1,057,956,636.88, a 43.61% increase compared to ¥736,702,267.73 in 2020[30]. - The company's total assets at the end of 2021 were ¥27,604,131,314.00, reflecting a 13.37% increase from ¥24,348,332,710.60 at the end of 2020[30]. - The basic earnings per share for 2021 was ¥0.33, an increase of 17.86% from ¥0.28 in 2020[30]. - The company reported a net cash flow from operating activities of ¥1,767,516,529.11, which is a 10.31% increase from ¥1,602,286,398.86 in 2020[30]. - The company achieved a weighted average return on equity of 9.36% in 2021, up from 8.66% in 2020[30]. - The total operating revenue reached CNY 44.45 billion, representing a year-on-year growth of 47.06%[94]. - The net profit attributable to shareholders was CNY 1.172 billion, up 17.75% year-on-year, marking a historical high[91]. - The lead-zinc mining, smelting, and sales segment contributed CNY 8.34 billion, accounting for 18.77% of total revenue, with a growth of 30.77%[94]. - The non-ferrous metal trading business generated CNY 35.10 billion, making up 78.96% of total revenue, with a significant increase of 55.79%[94]. Business Operations and Strategy - The company has undergone significant business adjustments, including the acquisition of Canadian Global Star Mining Company in 2010, which added copper and gold mining operations to its portfolio[25]. - The company’s main business has shifted from real estate and glass curtain wall engineering to mining, smelting, and trading of non-ferrous metals, particularly lead and zinc[25]. - The company operates in various sectors, including non-ferrous metal mining, smelting, and aluminum profile production, reflecting a diversified business model[25]. - The company is advancing towards high-quality development, focusing on green, efficient, and intelligent growth in the lead and zinc industry[43]. - The company is implementing a series of mergers and acquisitions and resource integration strategies to enhance its market influence[47]. - The company is actively pursuing international expansion as part of the "Belt and Road" initiative[43]. - The company is committed to integrating technology and capital to drive diversified operations and enhance overall competitiveness[171]. - The company plans to expand its market presence and enhance product offerings through new technology development and strategic acquisitions[199]. Resource Management - The company has a total proven reserves of lead and zinc resources exceeding 10 million tons, with specific reserves of zinc at 7.7645 million tons and lead at 3.5764 million tons[62]. - The company has an annual production capacity of 300,000 tons of lead and zinc metal[47]. - The total resource reserves of the Fankou lead-zinc mine as of December 31, 2021, are 1,744.96 million tons, including 156.86 thousand tons of zinc metal and 94.67 thousand tons of lead metal[63]. - The inferred resources at the Fankou lead-zinc mine are 560.99 million tons, with 52.22 thousand tons of zinc metal and 32.9 thousand tons of lead metal[63]. - The total resource reserves at the Guangxi Panlong mine as of November 30, 2021, are 5,427.30 million tons, including 176.50 thousand tons of zinc metal and 218.44 thousand tons of lead metal[68]. - The company has conducted exploration activities that have increased resource reserves according to the new solid mineral resource classification standards (GB/T 17766-2020)[67]. - The company is focused on expanding its market presence and enhancing its resource base through strategic exploration and development initiatives[66]. Environmental and Safety Initiatives - The company emphasizes the importance of safety and environmental protection in its mining and refining operations, which are subject to strict regulations[178]. - The company has been recognized for its green initiatives, with the Fangkou mine being awarded as a "National Green Mine" and the Shaoyang plant achieving zero industrial wastewater discharge[90]. - The company’s smelting plants utilize innovative processes such as the ISP process and zinc oxygen pressure leaching technology, enhancing production efficiency and environmental sustainability[50][49]. Research and Development - Research and development expenses increased by 13.00% to ¥355,243,539.09 compared to the previous year[115]. - The number of R&D personnel rose to 879, a 2.33% increase from 2020[118]. - The company is developing a key technology for urban mining with a focus on zero-waste smelting processes, aiming for significant energy savings[116]. - Ongoing research at the Dominican Maimon mine aims to maximize the recovery of copper, zinc, gold, and silver from high-sulfur ores[116]. - The company is working on a new conductive adhesive for LED packaging, expected to reduce costs compared to foreign products and enhance market competitiveness[119]. - R&D investment amounted to ¥355,243,539.09 in 2021, an increase of 13.00% from ¥314,374,802.05 in 2020[121]. Governance and Management - The company has established a comprehensive corporate governance structure, including a board of directors and various committees[184]. - The company maintains independent operations in procurement, production, and sales, ensuring autonomy from the controlling shareholder[185]. - The company has an independent financial department and accounting system, allowing for independent financial decision-making[188]. - The company has a clear organizational structure with separate operational and office facilities from the controlling shareholder[188]. - The company has appointed new board members, including Wang Bi'an as Chairman and Zhang Mu-yi as President, effective October 28, 2021[198]. Market Trends and Challenges - The company is facing risks related to policy changes, macroeconomic fluctuations, and price volatility in non-ferrous metals[173][174][175]. - The domestic lead consumption is entering a trend of gradual decline, prompting the industry to adjust its structure and upgrade[43]. - The company aims to improve its marketing strategies to mitigate risks associated with metal price fluctuations[177].