Financial Performance - The company's operating revenue for Q1 2019 was ¥4,104,611,638.52, a decrease of 14.29% compared to ¥4,789,086,122.24 in the same period last year[8]. - Net profit attributable to shareholders was ¥260,730,712.04, down 16.04% from ¥310,534,797.19 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥199,253,289.51, a decline of 32.26% compared to ¥294,151,698.50 in the previous year[8]. - Basic and diluted earnings per share were both ¥0.07, down 46.15% from ¥0.13 in the previous year[8]. - Total operating revenue for the current period was ¥4,111,470,257.35, a decrease of 14.4% compared to ¥4,802,257,540.38 in the previous period[66]. - Net profit for the current period was ¥264,620,649.94, down 15.6% from ¥313,396,873.06 in the previous period[69]. - The total comprehensive income for the current period was ¥191,924,017.55, a decrease from ¥219,846,548.54 in the previous period[72]. Cash Flow - The net cash flow from operating activities improved significantly to ¥28,139,775.98, compared to a negative cash flow of ¥118,194,881.71 in the same period last year, representing a 123.81% increase[8]. - The cash flow from operating activities generated a net amount of ¥28,139,775.98, recovering from a negative cash flow of ¥118,194,881.71 in the previous period[83]. - The cash inflow from operating activities totaled 1,384,969,911.74, a decrease from 1,461,938,027.92 in the previous period, reflecting a decline of approximately 5%[90]. - The cash flow from investment activities showed a net outflow of -241,051,613.62, compared to -80,399,157.12 in the previous period, indicating a significant increase in investment outflows[90]. - The cash outflow for purchasing goods and services was 708,825,329.15, down from 1,097,159,080.95 in the previous period, indicating a decrease of about 35%[90]. Assets and Liabilities - Total assets at the end of the reporting period were ¥20,064,068,579.33, an increase of 2.86% from ¥19,506,332,203.20 at the end of the previous year[8]. - Total current assets increased to ¥7,925,150,046.06 from ¥7,138,443,592.91, representing a growth of approximately 11%[49]. - Non-current assets decreased slightly to ¥12,138,918,533.27 from ¥12,367,888,610.29, a decline of about 1.85%[49]. - Total liabilities increased to ¥9,165,892,099.21 from ¥8,789,377,269.35, marking a growth of approximately 4.3%[52]. - Total current liabilities rose to ¥6,841,187,946.85 from ¥6,389,425,442.83, reflecting an increase of about 7%[52]. - The company reported a decrease in prepayments to ¥115,561,767.18 from ¥214,196,090.28, a decline of about 46%[52]. Shareholder Information - Net assets attributable to shareholders increased by 1.81% to ¥10,511,641,064.22 from ¥10,324,313,227.17 at the end of the previous year[8]. - The total number of ordinary shareholders at the end of the reporting period was 160,374, with the largest shareholder holding 27.51% of the shares[12]. - Total equity attributable to shareholders increased to ¥10,511,641,064.22 from ¥10,324,313,227.17, a rise of about 1.8%[55]. Research and Development - R&D expenses significantly increased compared to the same period last year, primarily due to increased investment in R&D[23]. - Research and development expenses increased significantly to ¥60,114,454.66, compared to ¥22,352,484.58 in the previous period, reflecting a growth of 169.5%[66]. - Research and development expenses surged to ¥47,206,693.94, representing a 208.5% increase from ¥15,309,794.55 in the previous period[73]. Financial Adjustments - The company has made adjustments to its financial reporting in accordance with new financial instrument standards effective from January 1, 2019[111]. - The company will not retrospectively adjust 2018 comparative data under the new accounting policies[113]. - The company has reclassified certain financial assets under the new standards, impacting their reporting categories[116]. Other Financial Information - The company reported non-operating income of ¥61,477,422.53 after tax impacts and minority interests[8]. - The company has no reported violations regarding external guarantees during the reporting period[41]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[42].

Financial Performance - The company's operating revenue for 2018 was approximately ¥19.96 billion, representing a 5.26% increase compared to ¥18.97 billion in 2017[23] - The net profit attributable to shareholders for 2018 was approximately ¥919.94 million, a decrease of 13.78% from ¥1.07 billion in 2017[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 936,353,959.34, a 2.91% increase from CNY 909,914,382.25 in the previous year[26] - Basic and diluted earnings per share were CNY 0.26, down 43.48% from CNY 0.46 in the previous year[26] - The weighted average return on equity was 9.09%, a decrease of 2.92% from 12.01% in the previous year[26] - Total assets increased by 3.38% to CNY 19,506,332,203.20 from CNY 18,868,841,945.67 at the end of the previous year[26] - Net assets attributable to shareholders increased by 3.21% to CNY 10,324,313,227.17 from CNY 10,003,243,588.44 at the end of the previous year[26] - The total revenue for the company reached CNY 19.69 billion, representing a year-over-year increase of 13.19% compared to CNY 17.10 billion in the previous year[117] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.80 per 10 shares, based on a total of 3,569,685,327 shares[6] Business Expansion and Operations - The company has expanded its business scope to include mining, smelting, and trading of non-ferrous metals, as well as real estate and aluminum profile production[21] - The company reported a significant increase in its mining and smelting operations following the acquisition of Global Star Mining in 2010, which added copper and gold resources to its portfolio[21] - The company is actively involved in mergers and acquisitions and resource integration to strengthen its market position as a multinational mining enterprise[38] - The company plans to enhance its production efficiency by integrating mining and smelting operations, ensuring high operational efficiency across both systems[57] - The sales strategy includes a combination of long-term contracts and spot sales, ensuring a comprehensive approach to market demand[57] - The company aims to expand its market presence and enhance its competitive advantage in the non-ferrous metals industry[58] Production and Resource Management - The company achieved a total operating income of CNY 4,789,086,122.24 in Q1, CNY 6,594,962,581.15 in Q2, CNY 5,586,822,383.18 in Q3, and CNY 2,992,538,435.36 in Q4[29] - The company has a production capacity of 300,000 tons of lead and zinc per year, with total proven reserves of nearly 10 million tons of lead, zinc, and copper resources[38] - In 2018, the company produced 25.94 million tons of lead and zinc metals, accounting for 2.40% of the national output[58] - The company’s lead production was 4.71 million tons, representing 1.69% of the output from large-scale smelting enterprises, while zinc production was 21.23 million tons, making up 3.74%[58] - The company’s lead metal content in mined lead concentrate was 5.18 million tons, which is 2.55% of the national total, and zinc metal content was 12.61 million tons, accounting for 3.02%[58] Research and Development - The company launched the Zhongjin Lingnan Science and Technology Research Institute to enhance R&D capabilities and innovation[107] - Research and development (R&D) expenses increased by 61.18% to ¥189,332,238.95, reflecting a significant investment in innovation[139] - The company was recognized as a national high-tech enterprise, enhancing its R&D capabilities and innovation[138] Cash Flow and Investments - The company’s operating cash inflow totaled ¥21,481,438,817.96, a year-on-year increase of 2.06%[142] - The net cash flow from operating activities decreased by 20.78% to ¥1,971,769,055.95, indicating a decline in cash generation efficiency[142] - Investment cash inflow surged by 236.64% to ¥1,749,612,974.23, primarily due to the recovery of principal from financial investments[142] - The company invested ¥1,180,023,412.52 during the reporting period, a 12.80% increase from ¥1,046,083,473.43 in the same period last year[151] Market Risks and Challenges - The company continues to face potential risks as outlined in its future development outlook section[6] - The company faces risks from policy changes, macroeconomic fluctuations, and price volatility in the non-ferrous metals market[196][197][198] - The company emphasizes the importance of environmental regulations and aims to adapt to stricter industry standards[192] Inventory and Procurement - The total sales amount from the top five customers reached ¥7,202,372,229.56, accounting for 36.57% of the annual sales[132] - The total procurement amount from the top five suppliers was ¥7,917,918,154.80, representing 43.94% of the annual procurement[132] - The company’s inventory decreased slightly to ¥2,185,561,626.35, accounting for 11.20% of total assets, down from 11.78% the previous year[145] Future Outlook - The company plans to enhance its global mineral resource holdings and extend its value chain towards high-end segments[192] - The company aims to achieve a diversified resource utilization and internationalized operations strategy[192]

Financial Performance - Total assets increased by 4.28% to CNY 19.68 billion compared to the end of the previous year[7] - Net profit attributable to shareholders decreased by 47.56% to CNY 163.05 million year-on-year[7] - Operating revenue for the period was CNY 5.59 billion, representing a year-on-year increase of 13.70%[7] - Basic earnings per share dropped by 64.29% to CNY 0.05[7] - The weighted average return on net assets decreased by 2.23 percentage points to 1.61%[7] - Cash flow from operating activities decreased by 8.43% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 51.12% to CNY 148.95 million[7] Shareholder Information - The company reported a total of 162,717 shareholders at the end of the reporting period[11] - The largest shareholder, Guangdong Guangsheng Asset Management Co., Ltd., holds 27.51% of the shares[11] Asset and Investment Changes - The cash and cash equivalents at the end of the period increased by 59.92% compared to the beginning of the year, mainly due to the recovery of idle raised funds from principal-protected financial investments[15] - The balance of financial assets measured at fair value and whose changes are included in current profit and loss increased by 46.24% compared to the beginning of the year, primarily due to increased floating profits from hedging contracts[15] - The balance of notes receivable at the end of the period increased by 111.71% compared to the beginning of the year, mainly because customers increased the use of notes for payment[16] - The balance of other receivables increased by 32.86% compared to the beginning of the year, mainly due to increased receivables from overseas futures hedging profits[16] - The balance of construction in progress increased by 58.04% compared to the beginning of the year, primarily due to increased investment in technological transformation projects[17] - The total investment amount at the end of the reporting period was 7,882.9 million, with a decrease of 267.13 million compared to the beginning of the period[36] Research and Development - Research and development expenses increased by 67.28% compared to the same period last year, mainly due to increased investment in R&D[25] - Investment income increased by 97.71% compared to the same period last year, primarily due to increased income from financial product investments[27] Derivative Investments and Hedging - The company reported a net asset ratio of 3.10% for the total derivative investments, amounting to 31,802 million[36] - The company engaged in hedging activities to mitigate risks associated with market price fluctuations of lead, zinc, copper, and silver, ensuring that the risks from price increases are controllable[36] - The fair value of the company's derivative positions is directly calculated based on market prices, with no significant changes in accounting policies compared to the previous reporting period[37] - The company reported a total of 622,213 million in derivative investments during the reporting period[36] - The balance of financial liabilities measured at fair value and whose changes are included in current profit and loss decreased by 99.35% compared to the beginning of the year, mainly due to reduced floating losses from hedging contracts[21] Compliance and Governance - The independent directors confirmed that the company's hedging activities complied with relevant laws and regulations[37] - The company has not encountered any violations regarding external guarantees during the reporting period[39] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[40] Investor Relations - The company conducted multiple investor relations activities, including on-site inspections and communications with institutions throughout the reporting period[38] - The company maintained a good liquidity position with all contracts being futures contracts, which have good liquidity and low legal risks[36]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 11,384,048,703.39, representing a 15.25% increase compared to CNY 9,878,006,023.58 in the same period last year[17]. - The net profit attributable to shareholders was CNY 606,689,539.86, up 9.89% from CNY 552,079,694.66 year-on-year[17]. - The basic earnings per share decreased to CNY 0.17, down CNY 0.08 from CNY 0.25 in the same period last year[17]. - The company achieved a revenue of ¥11.38 billion in the first half of 2018, representing a 15.25% increase compared to ¥9.88 billion in the same period last year[40]. - The company reported a total revenue of 12,403.7 million CNY for the first half of 2018, with a significant increase compared to the previous period[79]. - The gross profit margin for the company was approximately 24.98% during the reporting period[79]. - The company reported a total operating cost of RMB 10.63 billion, which is a 15.1% increase from RMB 9.23 billion in the first half of 2017[148]. - The company recorded investment income of RMB 59.62 million, an increase from RMB 41.83 million in the first half of 2017[148]. - The total comprehensive income for the first half of 2018 was RMB 596.55 million, compared to RMB 575.55 million in the same period of 2017[148]. - The company’s financial performance indicates a positive outlook for future growth and stability in the market[156]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 40.40% to CNY 718,480,723.10, down from CNY 1,205,433,655.68 in the previous year[17]. - The company’s net cash flow from operating activities for the first half of 2018 was RMB 718,480,723.10, a decrease of 40.4% compared to RMB 1,205,433,655.68 in the same period of 2017[150]. - The cash flow from investment activities showed a net outflow of RMB 642,473,539.02, compared to a net outflow of RMB 381,223,600.65 in the first half of 2017[150]. - The total cash and cash equivalents at the end of the period were RMB 1,967,389,500.99, down from RMB 2,144,281,240.29 at the beginning of the period[150]. - The company’s net increase in cash and cash equivalents was negative at RMB -176,891,739.30, indicating challenges in cash management during the period[150]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 19,227,733,665.63, a 1.90% increase from CNY 18,868,841,945.67 at the end of the previous year[17]. - The company's total liabilities increased to RMB 8,816,444,097.12 as of June 30, 2018, compared to RMB 8,463,287,930.08 at the end of 2017, reflecting a growth of 4.16%[146]. - Current liabilities totaled RMB 6,371,464,672.70, up from RMB 5,750,440,749.55, indicating an increase of 10.83%[146]. - Non-current liabilities amounted to RMB 2,444,979,424.42, a decrease from RMB 2,712,847,180.53, representing a decline of 9.87%[146]. - The total equity attributable to shareholders increased to CNY 2,379,790,218.00 by the end of the period, up from CNY 2,212,627,938.00 at the beginning of the year, representing an increase of approximately 7.5%[156]. Investments and Capital Management - The company made a significant equity investment of ¥72,780 in Myanmar Metals Ltd, acquiring a 19.90% stake[53]. - The company approved the use of up to RMB 1.02 billion of idle raised funds for investment in financial products, with a total principal balance of RMB 800 million as of June 30, 2018, and an expected annualized return of 5.00%[106]. - The company’s investment activities generated a net cash outflow of ¥642.47 million, compared to a net outflow of ¥381.22 million in the previous year[41]. - The company’s financial strategies include a focus on expanding its asset management capabilities and enhancing shareholder value through profit distribution[121]. Risk Management - The company has outlined potential risks and countermeasures in its report, emphasizing the importance of investor awareness regarding investment risks[5]. - The company is facing policy risks due to strict industry regulations on non-ferrous metals, which could impact business operations if national policies change[62]. - The company has implemented risk control measures for its derivative investments, focusing on hedging against price fluctuations in lead, zinc, copper, and silver[57]. Production and Operations - The company has an annual production capacity of 300,000 tons of lead and zinc metals, with proven reserves of nearly 10 million tons of non-ferrous metal resources[24]. - In the first half of 2018, the company produced 25,400 tons of lead concentrate, accounting for 2.8% of the domestic market, and 62,700 tons of zinc concentrate, accounting for 3.3% of the domestic market[30]. - The company operates two major smelting plants, utilizing advanced technologies such as the ISP process and zinc oxygen pressure leaching, enhancing production efficiency and product quality[26]. - The company is focused on enhancing management efficiency through precise management practices, aiming for quality improvement and cost reduction[33]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for this period[6]. - The company’s total share capital increased from 2,379,790,218 shares to 3,569,685,327 shares following a capital reserve conversion and cash dividend distribution[112]. - The company held its first extraordinary general meeting on August 13, 2018, where several new directors and independent directors were elected[134]. - The company’s management changes included the election of new independent directors, enhancing governance and oversight[134]. Environmental and Compliance - The company has achieved compliance with wastewater discharge standards, with COD emissions at 31.41 tons and ammonia nitrogen at 2040.07 kg, indicating effective pollution control measures[95]. - The company has implemented a stable operation of pollution control facilities, ensuring that all pollutants are within the regulatory limits, with no exceedances reported during the reporting period[96]. - The company has established emergency response plans for environmental incidents, conducting training and drills as per regulatory requirements[98].

Financial Performance - The company's operating revenue for Q1 2018 was ¥4,789,086,122.24, representing a 1.04% increase compared to ¥4,739,691,820.97 in the same period last year[8] - Net profit attributable to shareholders increased by 41.93% to ¥310,534,797.19 from ¥218,788,149.09 year-on-year[8] - The net profit after deducting non-recurring gains and losses rose by 42.40% to ¥294,151,698.50 compared to ¥206,573,720.63 in the previous year[8] - The basic earnings per share increased by 30.00% to ¥0.13 from ¥0.10 in the same period last year[8] - The weighted average return on net assets improved by 0.25 percentage points to 3.06% from 2.81% year-on-year[8] Assets and Liabilities - Total assets at the end of the reporting period were ¥19,261,467,582.36, a 2.08% increase from ¥18,868,841,945.67 at the end of the previous year[8] - The net assets attributable to shareholders increased by 2.17% to ¥10,220,640,475.66 from ¥10,003,243,588.44 at the end of the previous year[8] - The ending balance of other current liabilities significantly increased, mainly due to an increase in the amount of tax to be written off at the subsidiary[24] - The ending balance of non-current liabilities due within one year significantly increased, mainly due to an increase in the amount of long-term borrowings due within one year[23] Cash Flow - The net cash flow from operating activities was negative at -¥118,194,881.71, a decrease of 139.62% compared to ¥298,283,871.42 in the same period last year[8] Revenue and Expenses - Interest income increased by 42.69% compared to the same period last year, primarily due to an increase in interest income from the subsidiary Jin Hui Futures Company[25] - Interest expenses decreased by 32.87% compared to the same period last year, mainly due to a reduction in interest expenses from the subsidiary financial company[26] - Tax expenses increased by 33% compared to the same period last year, mainly due to an increase in resource tax[27] - Investment income increased by 75.89% compared to the same period last year, primarily due to increased returns from bank principal-protected financial products purchased with idle raised funds[29] Investments and Derivatives - The company plans to use up to 5.93 billion yuan of idle raised funds to purchase safe, liquid, principal-protected financial products within one year[32] - The company's derivative investments amounted to 244.1 million, with a net loss of 708.14 million during the reporting period, reflecting a loss ratio of 8.03%[38] - The company reported a total investment of 186.49 million in zinc derivatives, with a net loss of 1.335 million, indicating a loss ratio of 6.80%[38] - The company faced risks related to market price fluctuations in its derivative holdings, but maintained a controlled hedging ratio to mitigate these risks[38] Compliance and Governance - The company engaged in hedging activities strictly in accordance with relevant regulations, with no significant changes in accounting policies compared to the previous reporting period[39] - There were no violations regarding external guarantees during the reporting period, ensuring compliance with regulations[41] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[42] - The independent directors confirmed that the company's hedging activities complied with relevant laws and internal regulations[39] Investor Relations - The company conducted an on-site investigation on February 6, 2018, with institutional investors as part of its investor relations activities[40]

Financial Performance - The company's operating revenue for 2017 was CNY 18,966,588,411.31, representing a 25.95% increase compared to CNY 15,059,114,290.84 in 2016[16]. - Net profit attributable to shareholders reached CNY 1,066,992,868.26, a significant increase of 230.10% from CNY 323,228,814.39 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 909,914,382.25, up 267.67% from CNY 247,483,664.24 in 2016[16]. - The net cash flow from operating activities was CNY 2,469,242,826.75, reflecting a 75.58% increase from CNY 1,406,369,904.15 in 2016[16]. - The total assets at the end of 2017 amounted to CNY 18,868,841,945.67, an increase of 11.20% from CNY 16,969,105,940.73 at the end of 2016[16]. - The net assets attributable to shareholders increased by 30.21% to CNY 10,003,243,588.44 from CNY 7,682,422,637.74 in 2016[16]. - The company achieved a basic earnings per share of CNY 0.46, which is a 206.67% increase compared to CNY 0.15 in 2016[16]. - The weighted average return on equity rose to 12.01%, an increase of 7.70 percentage points from 4.31% in the previous year[16]. - The company achieved a gross profit margin of 14.14% for the year, with a year-on-year increase of 3.14%[74]. Dividend and Share Capital - The company plans to distribute a cash dividend of 2.50 CNY per 10 shares (including tax) based on a total share capital of 2,379,790,218 shares, and will also increase capital by 5 shares for every 10 shares held[4]. - The cash dividend for 2017 represents 62.45% of the net profit attributable to the company's shareholders, which was RMB 1,066,992,868.26[132]. - The company distributed a cash dividend of RMB 0.30 per share for the 2016 fiscal year, totaling RMB 66,378,838.14 (including tax) based on a total share capital of 2,212,627,938 shares[128]. - For the first half of 2017, the company announced a cash dividend of RMB 0.30 per share, amounting to RMB 71,393,706.54 (including tax) based on a total share capital of 2,379,790,218 shares[131]. - The proposed cash dividend for the 2017 fiscal year is RMB 2.50 per share, with a total cash dividend of RMB 594,947,554.50 (including tax) based on the same total share capital[134]. - The company plans to increase its share capital by 5 shares for every 10 shares held, using the capital reserve[130]. Business Operations and Subsidiaries - The company has undergone significant business changes since its listing, including the acquisition of Canadian Global Star Mining Company, which expanded its operations to include copper and gold mining[14]. - The company operates several subsidiaries, including the Fan Kou Lead-Zinc Mine and Shaoguan Smelting Plant, which are integral to its operations[8]. - The company has included 29 subsidiaries in its consolidated financial statements for 2017, an increase of 3 from the previous year[79]. - The company has established a complete industrial chain in the non-ferrous metal sector, covering exploration, mining, smelting, and high-tech material production[63]. Resource Management and Production - The company has established an annual production capacity of 300,000 tons of metal from lead and zinc mining and processing[26]. - The company produced 5.21 million tons of lead concentrate, accounting for 2.5% of the national total in 2017[34]. - The company produced 11.76 million tons of zinc concentrate, representing 2.73% of the national total in 2017[34]. - The company’s smelting output included 5.01 million tons of lead and 21.06 million tons of zinc, which accounted for 1.73% and 3.63% of the national totals, respectively[34]. - The total mineral resources at the Fankou lead-zinc mine amounted to 2,464.80 million tons, with zinc metal content of 227.66 thousand tons and lead metal content of 133.98 thousand tons[36]. - The company controls over 10 million tons of lead and zinc metal resources, with an annual production capacity of approximately 300,000 tons[63]. Risk Management and Compliance - The company emphasizes the importance of accurate financial reporting and has appointed Ruihua Certified Public Accountants for auditing purposes[15]. - The company has outlined potential risks in its future development, which investors should be aware of[4]. - The company is facing risks from policy changes, macroeconomic fluctuations, and price volatility in non-ferrous metals, which could impact profitability[122]. - The company has implemented risk control measures for derivative investments, focusing on hedging against price fluctuations in lead, zinc, copper, and silver[104]. - The company’s independent directors confirmed that all hedging activities complied with relevant laws and regulations[104]. Research and Development - The company has been recognized as a national high-tech enterprise and has multiple research platforms, including "Academician Workstation" and "Postdoctoral Research Workstation"[64]. - The company plans to continue its focus on technological innovation and research in energy conservation, environmental protection, and resource utilization[64]. - R&D investment increased by 17.32% to ¥230,079,145.71 in 2017, with R&D personnel rising by 1.11% to 817[87]. - The company plans to enhance R&D in resource exploration, safety, environmental protection, and new materials development, establishing a research institute and collaborating with universities[86]. Environmental and Social Responsibility - The company has invested 405,020 CNY in social responsibility initiatives, including poverty alleviation efforts[171]. - A total of 340 impoverished individuals have been helped to escape poverty through the company's initiatives[171]. - The company has implemented five agricultural and forestry industry poverty alleviation projects with an investment of 55,630 CNY[171]. - The company has provided vocational training for 80 individuals, with an investment of 10,160 CNY in skills training[171]. - The company has assisted 33 impoverished households in achieving employment through its initiatives[171]. - The company’s main pollutants include sulfur dioxide and nitrogen oxides, with all emissions meeting the required standards during the reporting period[182]. - The company implemented effective wastewater treatment measures, achieving compliance with discharge standards for COD and ammonia nitrogen[179]. Acquisitions and Investments - The company completed a significant acquisition of 51% stake in Hunan Zhongjin Lingnan Kangmeng Environmental Protection Technology for ¥44,970,000[97]. - The company has engaged in significant trading activities, with a total of 16,111.3 million RMB in copper derivatives transactions during the year[103]. - The company has made substantial investments in securities, with an initial investment of 224,075,000 RMB in Landsea Green Properties, which had a fair value of 402,529,000 RMB at the end of the reporting period[100]. - The company recorded a loss of 17,244,000 RMB from its investment in the ICBC Credit Suisse Fund, which had a fair value of 66,856,000 RMB[100]. - The company has approved the use of up to RMB 593 million of idle raised funds for purchasing safe, liquid, and principal-protected financial products, with a total principal balance of RMB 440 million as of December 31, 2017[192]. Governance and Compliance - The company has a structured governance framework, including a board of directors and supervisory committee to ensure compliance and oversight[3]. - The company has not encountered any significant changes in accounting policies for derivative investments compared to the previous reporting period[104]. - The company has not faced any situations that could lead to suspension or termination of its listing during the reporting period[146]. - The company reported no significant litigation or arbitration matters during the reporting period[147]. - The company did not implement any stock incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[149].

Financial Performance - Total assets increased by 10.22% to CNY 18.70 billion compared to the end of the previous year[7] - Net assets attributable to shareholders increased by 29.59% to CNY 9.96 billion compared to the end of the previous year[7] - Operating revenue decreased by 5.38% to CNY 4.91 billion for the current period[7] - Net profit attributable to shareholders increased by 158.40% to CNY 310.90 million for the current period[7] - Basic earnings per share rose by 160.00% to CNY 0.13 per share[7] - The weighted average return on equity increased by 2.07 percentage points to 3.69%[7] - Cash flow from operating activities increased by 89.52% to CNY 1.43 billion year-to-date[7] - The company reported a significant increase in net profit year-to-date by 426.63% to CNY 862.98 million[7] Shareholder Information - The top shareholder, Guangdong Guangsheng Asset Management Co., holds 27.51% of shares, totaling 654,593,573 shares[11] Receivables and Assets - Accounts receivable decreased by 64.23% compared to the beginning of the year due to a reduction in customers using notes for payment[15] - Other receivables increased by 77.19% compared to the beginning of the year, primarily due to a new subsidiary participating in land auction deposits[15] - Other current assets increased by 139.49% compared to the beginning of the year, due to the use of idle raised funds to purchase guaranteed wealth management products[15] Revenue and Income - Revenue increased by 33.54% year-on-year, driven by higher prices of main products and increased trading in non-ferrous metals[15] - Interest income rose by 43.61% year-on-year, attributed to increased interest income from the subsidiary Jin Hui Futures[15] - Investment income significantly increased, mainly due to a reduction in futures hedging losses compared to the previous year[22] Investments and Projects - The balance of construction in progress increased by 67.11% compared to the beginning of the year, due to increased investment in technological transformation projects[17] - The company raised a total of RMB 1,524.52 million from a private placement, with net proceeds of RMB 1,492.22 million allocated to various projects[27] - The company established a wholly-owned subsidiary, Guangzhou Zhongjin International Trade Co., Ltd., with a registered capital of RMB 100 million to create new profit growth points[33] - The company successfully acquired land use rights for a plot in Guangzhou, covering an area of 14,941 square meters, with a transaction amount of 389.4 million yuan[34] Financial Management - As of September 30, 2017, the company had a total principal balance of 580 million yuan in guaranteed financial products, with an expected annual yield of 4.60%[35] - The company and its wholly-owned subsidiary plan to use up to 1.02 billion yuan of idle raised funds for safe and liquid financial products, with an expected annual yield of 5% for one of the investments[36] - The company reported no overdue commitments from major stakeholders during the reporting period[38] - There are no significant changes expected in net profit compared to the previous year, indicating stable performance[39] - The company has made investments in various securities, with a total investment cost of 2.32 billion yuan and a fair value change of -127.43 million yuan[40] Risk Management - The company actively engaged in hedging activities to mitigate risks associated with market price fluctuations of its main products, including lead, zinc, copper, and silver[41] - The company maintained a strong liquidity position with all contracts being futures contracts, ensuring good liquidity and low legal risks[41] - The company’s derivative investments were primarily funded through its own capital[41] - The company’s hedging operations adhered strictly to relevant laws and internal regulations, with no compliance issues reported[42] Social Responsibility - The company invested nearly 3.3 million in social responsibility initiatives, including poverty alleviation and local economic support, during the first three quarters of 2017[46] - The company implemented targeted poverty alleviation measures, including agricultural support and infrastructure development, to enhance local farmers' income[47] - The company invested a total of 324.8 million yuan in poverty alleviation efforts during the third quarter[48] - A total of 125 registered impoverished individuals were helped to escape poverty[48] - The company initiated 9 industrial development poverty alleviation projects with an investment of 29.8 million yuan, benefiting 58 individuals[48] - 41 individuals received vocational skills training with an investment of 4 million yuan, resulting in 36 individuals achieving employment[48] - The company provided 3.54 million yuan to support 31 impoverished students and invested 4 million yuan to improve educational resources in impoverished areas[48] - The company allocated 6 million yuan for ecological protection poverty alleviation projects[48] - A total of 88 million yuan was invested in other projects, helping 29 registered impoverished individuals[49] - The company plans to continue its poverty alleviation efforts through agricultural planting, road construction, and water conservancy facility improvements[50]

Financial Performance - Operating revenue for the current period decreased by 5.38% to CNY 4.91 billion year-on-year, while revenue for the year-to-date increased by 33.54% to CNY 14.79 billion[8]. - Net profit attributable to shareholders increased by 158.40% to CNY 310.90 million for the current period, and by 426.63% to CNY 862.98 million year-to-date[8]. - Basic earnings per share rose by 180.00% to CNY 0.14 for the current period, and by 457.14% to CNY 0.39 year-to-date[8]. - The company's total operating revenue for the third quarter reached CNY 1,593,892,776.71, an increase of 29.8% compared to CNY 1,228,941,663.66 in the same period last year[67]. - The net profit for the third quarter was CNY 186,664,103.67, up 109.5% from CNY 84,293,872.58 in the previous year[68]. - The total revenue for the year-to-date period reached CNY 14,829,186,699.98, up 33.0% from CNY 11,095,555,608.11 in the same period last year[70]. - The net profit for the year-to-date period was CNY 878,229,681.42, compared to CNY 175,456,852.70 in the previous year, marking a 400% increase[72]. Asset and Equity Growth - Total assets increased by 10.22% to CNY 18.70 billion compared to the end of the previous year[8]. - Net assets attributable to shareholders increased by 29.59% to CNY 9.96 billion compared to the end of the previous year[8]. - The total current assets increased to CNY 7.355 billion from CNY 5.781 billion, reflecting a growth of approximately 27.3%[55]. - The company's equity increased from CNY 8.216 billion to CNY 10.501 billion, indicating a growth of approximately 27.8%[57]. - The total equity attributable to shareholders of the parent company increased to CNY 8,698,880,459.13, up from CNY 6,692,509,367.34, reflecting a growth of 30.00%[61]. Cash Flow and Financial Position - The net cash flow from operating activities for the year-to-date increased by 89.52% to CNY 1.43 billion[8]. - The cash flow from operating activities generated a net amount of ¥1,434,950,918.07, up from ¥757,130,679.87, indicating an increase of 89.2%[79]. - The total cash and cash equivalents at the end of the period amounted to ¥1,866,421,679.33, compared to ¥1,138,469,504.69 at the end of the previous period, representing a growth of 64.0%[80]. - The ending balance of cash and cash equivalents was CNY 990,548,433.68, up from CNY 428,443,970.11 in the previous period[83]. Investment Activities - The company reported a total investment amount of 512.83 million, with a net asset ratio of 4.75%[40]. - The company has made various securities investments, with a total investment cost of 2.32 billion yuan and a fair value change of -127.43 million yuan[39]. - The company reported an investment activity cash flow net amount of -¥1,692,150,307.60, worsening from -¥493,275,079.54 in the previous period[80]. - Investment income for the third quarter was CNY 1,117,939.92, a recovery from a loss of CNY 39,006,044.37 in the previous year[68]. Shareholder Information - The top shareholder, Guangdong Guangsheng Asset Management Co., Ltd., holds 27.51% of the shares, totaling 654,593,573 shares[12]. - The total number of ordinary shareholders at the end of the reporting period was 143,884[12]. Derivative and Hedging Activities - The company engaged in derivative investments, although specific details were not provided in the report[38]. - The company actively engaged in hedging activities to mitigate risks associated with market price fluctuations of lead, zinc, copper, and silver, ensuring that the risks from price increases are controllable[40]. - The company’s derivative investments are primarily in futures contracts, with fair value directly calculated based on market prices[40]. - The company reported a loss of 3,274.3 million from its derivative investments during the reporting period[40]. Social Responsibility Initiatives - The company invested nearly 3.3 million in social responsibility initiatives, including poverty alleviation and local economic support, during the first three quarters of 2017[45]. - Total funds allocated for poverty alleviation amounted to CNY 3.248 million, with material discounts contributing CNY 261,600[47]. - The company assisted 125 registered impoverished individuals in achieving poverty alleviation[47]. - The company plans to continue its poverty alleviation efforts through agricultural planting, road construction, and water facility improvements[51].

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 9,878,006,023.58, representing a 67.90% increase compared to CNY 5,883,099,004.47 in the same period last year[17]. - Net profit attributable to shareholders reached CNY 552,079,694.66, a significant increase of 1,167.74% from CNY 43,548,202.20 in the previous year[17]. - Basic earnings per share increased to CNY 0.25, a rise of 1,150.00% compared to CNY 0.02 in the same period last year[17]. - The company achieved operating revenue of 9.88 billion yuan, a year-on-year increase of 67.90% due to rising prices of main products and increased non-ferrous metal trading business[43]. - The net profit attributable to the parent company reached 552 million yuan, representing a significant year-on-year growth of 1167.74%[40]. - The company reported a total operating cost of RMB 9.23 billion, up from RMB 5.86 billion in the previous year, reflecting a rise of 57.5%[142]. - Operating profit for the first half of 2017 was RMB 709.13 million, compared to RMB 37.14 million in the same period of 2016, indicating a substantial increase of 1,810.5%[142]. - Total comprehensive income for the first half of 2017 was RMB 575.55 million, compared to RMB 123.69 million in the first half of 2016, representing an increase of 365.5%[142]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 1,205,433,655.68, up 234.93% from CNY 359,905,810.95 year-on-year[17]. - Cash and cash equivalents increased by 93.61% compared to the beginning of the year, primarily due to funds raised from a non-public stock issuance[30]. - The company reported a net increase in cash and cash equivalents of 1.90 billion yuan, a staggering increase of 4702.77% compared to the previous period[44]. - Cash received from sales of goods and services amounted to RMB 10,691,330,574.83, up from RMB 6,275,877,859.89 in the first half of 2016, indicating a growth of approximately 70%[144]. - The cash flow from interest, fees, and commissions received was RMB 24,623,570.02, showing an increase from RMB 9,903,701.17 in the previous year[144]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 18,293,461,605.28, reflecting a 7.80% increase from CNY 16,969,105,940.73 at the end of the previous year[17]. - The company's total liabilities reached RMB 8.09 billion, a decrease from RMB 8.75 billion at the end of 2016, indicating a reduction of about 7.5%[140]. - Cash and cash equivalents at the end of the period totaled RMB 3,048,066,158.31, compared to RMB 1,047,591,389.43 at the end of the first half of 2016, reflecting a substantial increase[144]. - Inventory decreased to ¥1,733,275,352.26, accounting for 9.47% of total assets, down from 12.65% last year, primarily due to rising product prices and reduced stock levels[51]. - Short-term borrowings decreased to ¥3,440,823,946.83, which is 18.81% of total assets, down from 24.14% last year, attributed to an overall reduction in financing scale[51]. Investments and Capital Expenditure - Research and development investment increased by 13.19% to 101.74 million yuan, reflecting the company's commitment to innovation[44]. - The company completed a non-public stock issuance, raising 1.525 billion yuan to support tailings resource utilization and environmental governance projects[40]. - The company has committed RMB 18 million to targeted poverty alleviation efforts, including agricultural planting and infrastructure improvements[100]. - The company allocated RMB 607.01 million for tailings resource recovery and environmental remediation projects from the raised funds[104]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.3 per 10 shares, totaling CNY 71,393,370.54 based on the current share base of 2,379,790,218 shares[5]. - The total distributable profit is RMB 2,882,094,043.32, with the remaining undistributed profit of RMB 2,810,700,336.75 to be carried forward to the next period[73]. - The company is in a mature development stage and has no significant capital expenditure plans, thus maintaining a minimum cash dividend ratio of 80% in profit distribution[73]. Operational Efficiency and Management - The company is actively implementing a "cost reduction plan" and "operational improvement plan" to enhance production efficiency and overall management level[34]. - The company has strengthened its management capabilities and governance structure in line with state-owned enterprise reform initiatives[33]. - The company has established a complete industrial chain in non-ferrous metals, including exploration, mining, smelting, and high-tech material production[35]. Environmental and Social Responsibility - The company is committed to adhering to environmental regulations and improving safety measures to mitigate risks associated with its mining and smelting operations[69]. - The company has successfully maintained compliance with environmental discharge standards, with no exceedances reported during the reporting period[101]. - The company invested approximately 330,000 yuan in social responsibility initiatives, including poverty alleviation and local economic support[97]. - The company helped 125 registered impoverished individuals to escape poverty during the reporting period[98]. Risks and Challenges - The company faces risks from policy changes, macroeconomic fluctuations, and price volatility in non-ferrous metals, which could impact its operations and profitability[65][67][68]. - The company does not anticipate any significant changes in its accounting practices or financial reporting standards for the upcoming periods[18]. Corporate Structure and Governance - The company is a state-owned enterprise under the supervision of the Guangdong Provincial State-owned Assets Supervision and Administration Commission[159]. - Guangdong Guangsheng Asset Management Co., Ltd. is the major shareholder, holding 32.74% of the company's shares[158]. - The company has 29 subsidiaries included in the consolidation scope for the first half of 2017, an increase of 2 compared to the previous year[161].

Financial Performance - The company's operating revenue for Q1 2017 was ¥4,739,691,820.97, representing a 61.82% increase compared to ¥2,928,959,618.79 in the same period last year[8] - Net profit attributable to shareholders was ¥218,788,149.09, a significant turnaround from a loss of ¥52,912,613.24, marking a 513.49% increase[8] - The net profit after deducting non-recurring gains and losses was ¥206,573,720.63, compared to a loss of ¥58,689,691.92, reflecting a 451.98% improvement[8] - Basic earnings per share increased to ¥0.10 from a loss of ¥0.02, representing a 600.00% growth[8] - The weighted average return on equity improved to 2.81%, an increase of 3.53 percentage points from -0.72%[8] - The net cash flow from operating activities reached ¥298,283,871.42, up 200.56% from ¥99,243,447.34 in the previous year[8] Assets and Liabilities - Total assets at the end of the reporting period were ¥17,072,352,168.91, a slight increase of 0.61% from ¥16,969,105,940.73 at the end of the previous year[8] - Net assets attributable to shareholders rose to ¥7,946,451,332.54, up 3.44% from ¥7,682,422,637.74[8] - Non-current liabilities due within one year significantly increased, primarily due to a rise in long-term borrowings due within one year[17] - The balance of accounts payable and commissions decreased by 30.90% year-on-year, primarily due to a reduction in commissions payable by a subsidiary[17] Revenue and Costs - Operating revenue increased by 61.82% compared to the same period last year, primarily due to a rise in main product prices and an increase in non-ferrous metal trading business[18] - Operating costs increased by 50.75% compared to the previous year, driven by higher raw material prices and expanded non-ferrous metal trading activities[18] - Financial expenses surged by 68.66% year-on-year, primarily due to a decrease in exchange gains[20] - Interest income rose by 71.89% year-on-year, mainly attributed to increased interest income from subsidiaries[18] - Investment income increased by 31.53% compared to the same period last year, mainly due to reduced redemption value of financial assets from subsidiaries[21] Non-Recurring Gains and Investments - The company reported non-recurring gains of ¥12,214,428.46 during the period, primarily from government subsidies and fair value changes of financial assets[9] - The company completed the acquisition of a 9.99% stake in Shenzhen Zhongjin Lingnan Technology Co., Ltd. for RMB 34,889,707.44[30] - The company reported a total investment in securities amounting to 125,224,000 CNY, with a total of 5,750,000 shares held at the end of the reporting period[34] - The company’s derivative investments totaled 251,866,500 CNY, with a net profit of 18,119,500 CNY during the reporting period, representing a 2.13% return[37] - The company has engaged in hedging activities to manage risks associated with market price fluctuations of its main products, including lead, zinc, copper, and silver[37] - The company’s investment in Landsea Green Properties resulted in a loss of 3,024.00 CNY during the reporting period[34] - The company maintained a 100% ownership in its primary fund investment, valued at 73,533,410 CNY, with a profit of 6,677,385 CNY[34] - The company’s total assets under management in the asset management plan reached 75,698,280 CNY, yielding a profit of 707,932 CNY[34] Compliance and Governance - The company has not reported any non-compliance issues regarding external guarantees during the reporting period[40] - There were no non-operational fund occupations by controlling shareholders or related parties reported during the period[41] - The company’s derivative investment accounting policies remained unchanged compared to the previous reporting period, ensuring compliance with relevant regulations[38]