Revenue and Profit - Revenue for Q3 2024 was CNY 15,069,918,769.33, a decrease of 3.41% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 257,543,743.09, an increase of 46.62% year-on-year[3] - Net profit excluding non-recurring items reached CNY 254,540,648.83, up 58.55% from the previous year[3] - Total operating revenue for the third quarter was CNY 45.72 billion, a decrease of 13.3% compared to CNY 52.85 billion in the same period last year[18] - Net profit attributable to the parent company was CNY 1.21 billion, down from CNY 1.45 billion year-on-year, reflecting a decline of 16.55%[18] - The net profit for Q3 2024 was CNY 986,031,038, a slight increase from CNY 985,444,864 in Q3 2023, representing a growth of 0.06%[19] - The total profit for the period was CNY 1,210,741,639.33, slightly up from CNY 1,200,563,711.41 in the same quarter last year, reflecting a growth of 0.1%[19] Cash Flow and Assets - Cash flow from operating activities for the year-to-date increased significantly by 597.46% to CNY 902,114,196.99[3] - The cash flow from operating activities was CNY 42,113,175,193.64, down from CNY 46,455,104,936.25 in the previous year, a decrease of 9.5%[20] - The cash flow from investing activities showed a net outflow of CNY 1,192,186,961.58, compared to a larger outflow of CNY 4,127,137,564.55 in the previous year[21] - The cash flow from financing activities generated a net inflow of CNY 859,353,593.84, significantly lower than CNY 5,849,101,180.75 in Q3 2023[21] - Total assets at the end of the reporting period were CNY 45,153,638,422.19, reflecting a 4.95% increase from the end of the previous year[3] - The company's total current assets increased to ¥17,900,124,076.65 from ¥15,912,757,157.26, reflecting a growth of approximately 12.5%[15] - Cash and cash equivalents rose to ¥3,924,883,729.67 from ¥3,613,564,017.21, indicating an increase of about 8.6%[15] - The company's cash and cash equivalents were reported at CNY 3.5 billion, a decrease from CNY 4.2 billion, indicating a decline of 16.67%[18] - The cash and cash equivalents at the end of the period totaled CNY 3,377,176,186.19, down from CNY 4,754,607,526.68 at the end of Q3 2023, a decrease of 29.0%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 132,866, with the largest shareholder, Guangdong Guangsheng Holding Group Co., Ltd., holding 34.90% of shares, equating to 1,304,407,036 shares[9] - The second largest shareholder, China Copper Investment Co., Ltd., holds 2.19% of shares, amounting to 81,743,419 shares[10] - The top ten shareholders collectively hold significant stakes, with the total shares held by the top ten shareholders being 1,516,000,000, representing a substantial portion of the company's equity[10] - The company’s major shareholders include state-owned entities, indicating a strong government influence in its ownership structure[10] - The company has not reported any changes in the status of pledged or frozen shares among its major shareholders[9] Investments and Acquisitions - The company has participated in the bankruptcy reorganization of 20 companies, including Dongying Fangyuan Nonferrous Metals Co., Ltd., as approved by the board and shareholders[12] - The company has invested a total of 18.9 billion RMB in the reorganization, holding a 63.00% equity stake in the restructured entity, Jinjin Rongsheng[12] - The company plans to collaborate with three financial investors, contributing a total of 30 billion RMB to the reorganization efforts[12] - The company has completed the asset delivery process for the restructured enterprises and is now managing their production operations[12] - The company has also engaged in debt collection and equity acquisition activities, with a total investment not exceeding 19.4 billion RMB[12] - The company agreed to acquire all overseas convertible bond debts for a minimum payment of ¥504,440,664.09, potentially increasing its equity stake in Shandong Zhongjin Lingnan Copper Industry Co., Ltd. from 39.2574% to 49.9702%[13][14] - The company completed the restructuring plan as confirmed by the Dongying Intermediate People's Court on May 16, 2024, concluding the restructuring process for 20 companies[14] - The company acquired 75% equity in Foshan Tongbao Precision Alloy Co., Ltd. for ¥25,485 million, enhancing its new materials processing segment[14][15] - The company has completed the payment of equity transfer amounts totaling ¥7,327.79 million for the remaining 25% equity in Foshan Precision, resulting in a total ownership of 96.565%[15] Liabilities and Expenses - Total liabilities rose to CNY 27.89 billion, compared to CNY 25.91 billion, marking an increase of 7.66%[17] - The total non-current liabilities decreased to CNY 15.66 billion from CNY 15.32 billion, a decrease of 9.3%[17] - The company reported a decrease in short-term loans to CNY 5.88 billion from CNY 6.40 billion, a reduction of 8.1%[18] - Research and development expenses for the period were CNY 335.83 million, up from CNY 302.25 million, indicating an increase of 11.1%[18] - The company experienced a 62.21% decrease in interest expenses compared to the same period last year[7] Equity and Returns - The company's weighted average return on equity rose to 5.87%, an increase of 0.70 percentage points year-on-year[3] - The total equity attributable to shareholders increased to CNY 13.88 billion, compared to CNY 13.32 billion, reflecting a growth of 4.1%[17]

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-094 | | --- | --- | --- | | 债券代码：127020 | 债券简称：中金转债 | | 深圳市中金岭南有色金属股份有限公司 关于参加广东省广晟控股集团有限公司 控股上市公司2024年投资者集体交流会 的公告 （ 四 ） 网 络 地 址 ： " 全 景 • 路 演 天 下 " 网 站 （https://rs.p5w.net/html/144988.shtml） 二、参加人员 参加本次集体交流会的人员：董事长喻鸿先生，董事会 秘书黄建民先生。 三、投资者参加方式 "集体交流会"），旨在加强与投资者沟通，推进上市公司 高质量发展。公司将参加本次集体交流会，现将有关事项公 告如下： 一、 召开的时间、地点及方式 （一）召开时间：2024 年 11 月 5 日（星期二）下午 14:30-17:00，其中，现场会议时间为 14:30-16:35，网络互动时 间为 16:00-17:00。 （二）召开方式：现场交流、视频直播、网络文字互动 （三）现场会议地址：深圳证券交易所上市大厅 1 本公司及董事会全体成员保证信息披露的内 ...

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-093 | | --- | --- | --- | | 债券代码：127020 | 债券简称：中金转债 | | 深圳市中金岭南有色金属股份有限公司 关于2024年第三季度可转换公司债券 转股情况公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 中金转债（债券代码：127020）转股期限为2021年1 月25日至2026年7月19日，截至目前，转股价格为人民币 4.38元/股。 根据《深圳证券交易所股票上市规则》、《深圳证券交易 所上市公司自律监管指引第 15 号——可转换公司债券》有关 规定，深圳市中金岭南有色金属股份有限公司（以下简称"公 司"或"中金岭南"）现将 2024 年第三季度可转换公司债券 （以下简称"可转债"或"中金转债"）转股及公司股份变 动的情况公告如下： 一、 中金转债发行上市基本情况 （一）可转换公司债券发行情况 经中国证券监督管理委员会《关于核准深圳市中金岭南 1 有色金属股份有限公司公开发行可转换公司债券的批复》 （证监许可[2020]1181 ...

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：2024-09 | --- | --- | --- | --- | --- | --- | --- | |-----------------------|-------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|--------|--------------|-------| | | | | | | | | | 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 □ 现场参观 | □ ...

根据《公司法》《公司章程》等相关规定，黎锦坤先生 的辞职不会导致公司董事会人数低于法定人数，其辞职报告 自送达董事会之日起生效。公司董事会对黎锦坤先生任职期 间为公司发展做出的贡献表示衷心感谢！ 特此公告。 | 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-092 | | --- | --- | --- | | 债券代码：127020 | 债券简称：中金转债 | | 深圳市中金岭南有色金属股份有限公司 关于董事辞职的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳市中金岭南有色金属股份有限公司（以下简称"公 司"）董事会于 2024 年 8 月 30 日收到董事黎锦坤先生的书 面辞职报告。黎锦坤先生因退休原因，申请辞去深圳市中金 岭南有色金属股份有限公司董事以及董事会各专门委员会 委员职务，不再继续在本公司及控股子公司担任职务。截至 本公告披露日，黎锦坤先生未持有公司股份，不存在其应当 履行而未履行的承诺事项。 深圳市中金岭南有色金属股份有限公司董事会 2024 年 9 月 3 日 ...

Investment Rating - The report maintains an "Outperform" rating for Zhongjin Lingnan (000060 SZ) [1][3][26] Core Views - In H1 2024, the company's revenue decreased by 17 7% YoY to RMB 30 6 billion, while net profit attributable to shareholders increased slightly by 0 3% to RMB 540 million [1][5] - The company's operating cash flow surged to RMB 770 million in H1 2024, compared to RMB 47 million in the same period last year, due to a low base effect and inventory adjustments [1][5] - Copper smelting has become a significant profit driver, contributing 50 7% of total revenue and 29% of gross profit in H1 2024 [1][7] - Lead and zinc smelting profits were under pressure due to a sharp decline in processing fees, with zinc processing fees falling to RMB 2,000/ton, below the cost range of RMB 4,000-5,000/ton for most smelters [1][25] Business Performance - In H1 2024, the company's cathode copper business achieved a gross profit of RMB 510 million, with a gross profit margin of RMB 2,450/ton and a net profit margin of RMB 1,230/ton [1][7] - The company's copper smelting business benefited from cost advantages and long-term supply contracts, despite copper concentrate shortages and historically low processing fees below USD 10/ton [1][7] - Lead and zinc smelting profits were negatively impacted by declining processing fees, with lead prices rising by RMB 1,800/ton but unable to offset the decline in smelting profits [1][5] Financial Forecasts - The report forecasts net profit attributable to shareholders of RMB 836 million, RMB 909 million, and RMB 1 288 billion for 2024, 2025, and 2026, respectively, with YoY growth rates of 21 5%, 8 7%, and 41 7% [1][26] - The company's EPS is projected to be RMB 0 22, RMB 0 24, and RMB 0 34 for 2024, 2025, and 2026, respectively, with a current PE ratio of 18 8x, 17 3x, and 12 2x [1][26] Industry and Market Position - The company is a leading producer in China's lead and zinc mining and smelting industry, with high-quality resources such as the Fankou Lead-Zinc Mine and total proven reserves of nearly 10 million tons of copper, zinc, and lead [1][26] - The acquisition of Dongying Fangyuan Copper Smelter has expanded the company's presence in the copper industry, further enhancing its growth potential [1][26]

证 券 研 究 报 告 中金岭南（000060）2024 半年报点评 推荐（维持） 公司研究 铅锌 2024 年 08 月 28 日 | --- | --- | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

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：2024-08 | --- | --- | --- | |----------------|--------------------------------------|------------------------------------------------------------------| | 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 | （请文字说明其他活动内容） | | 参与单位名称及 | 国金证券 | | | 人员姓名 | | | | 时间 | 2024 年 8 月 28 日 | | | 地点 | 深圳 | | | 上市公司接待人 | | | | | 董事会秘书黄建民 | | | 员姓名 | | | | | 1、公司 2024 | 年半年度经营情况？ | | | | 公司主要是从事铅锌铜等有色金属的采矿、选矿、冶炼和深加工一体 | | | | 化生产的企业，目前已形 ...

该报告由该报告由 证券研究报告 中金岭南 (000060 CH) 矿山受益于价格上涨、冶炼承压 免责声明和披露以及分析师声明是报告的一部分，请务必一起阅读。 1 中金岭南 (000060 CH) 矿山受益于价格上涨、冶炼承压 华泰研究 中报点评 投资评级(维持): 增持 2024 年 8 月 28 日│中国内地 有色金属 24H1 归母净利 5.42 亿元，维持"增持"评级 公司 24H1 实现营收 306.41 亿元（yoy-17.69%），归母净利 5.42 亿元 （yoy+0.3%）。鉴于 24 年以来冶炼加工费承压，我们下调 24-25 年铜冶炼 利润，预计公司 24-26 年归母净利 10.38/13.62/15.57 亿元（前值： 13.78/14.63/-）。可比公司 Wind 一致预期 PE（24E）均值 15.0X，给予公 司 24 年 15.0XPE，对应目标价 4.18 元（前值 6.47 元），维持增持评级。 24H1 主要产品产量实现时间过半任务过半 24 H1 公司主要产品基本上实现全年产量目标的一半。矿山企业生产精矿铅 锌金属量 13.95 万吨，同比上升 4.03%（其中国内矿 ...

Investment Rating - The report maintains a "Buy" rating for the company [2]. Core Views - The company reported a revenue of 30.641 billion yuan for 1H24, a year-on-year decrease of 17.69%, while the net profit attributable to shareholders was 542 million yuan, a slight increase of 0.3% year-on-year [2]. - The production of lead and zinc metal reached 139,500 tons in 1H24, up 4.03% year-on-year, and the production of copper, lead, and zinc products was 424,000 tons, also up 4.10% year-on-year, indicating stable production levels [2]. - The average price of zinc ingots in Q2 2024 was 23,600 yuan per ton, an increase of 11.12% quarter-on-quarter, while the average price of lead ingots was 18,000 yuan per ton, up 10.88% quarter-on-quarter, contributing to improved performance [2]. - Domestic mining production remained stable, with lead and zinc production from domestic mines at 81,700 tons, down 1% year-on-year, while overseas production increased by 13% to 57,800 tons [2]. - The report forecasts revenues of 70.6 billion, 74.7 billion, and 74.7 billion yuan for 2024, 2025, and 2026 respectively, with net profits of 1.1 billion, 1.11 billion, and 1.052 billion yuan for the same years [2]. Summary by Sections Financial Performance - 1H24 revenue was 30.641 billion yuan, down 17.69% year-on-year; net profit was 542 million yuan, up 0.3% year-on-year; and adjusted net profit was 518 million yuan, up 2.94% year-on-year [2]. - Q2 2024 net profit was 303 million yuan, a quarter-on-quarter increase of 26.43% and a year-on-year increase of 37.41% [2]. Production and Pricing - Lead and zinc metal production in 1H24 was 139,500 tons, up 4.03% year-on-year; copper, lead, and zinc products production was 424,000 tons, up 4.10% year-on-year [2]. - Q2 2024 average zinc ingot price was 23,600 yuan per ton, up 11.12% quarter-on-quarter; average lead ingot price was 18,000 yuan per ton, up 10.88% quarter-on-quarter [2]. Mining Operations - Domestic lead and zinc mining production was 81,700 tons, down 1% year-on-year; overseas production was 57,800 tons, up 13% year-on-year [2]. - The increase in overseas production was attributed to improved output and cost reductions at the Brocken Mountain site [2]. Future Projections - Expected revenues for 2024, 2025, and 2026 are 70.6 billion, 74.7 billion, and 74.7 billion yuan respectively; net profits are projected at 1.1 billion, 1.11 billion, and 1.052 billion yuan [2].