XINGYE MINING 二〇二〇年年度报告 與素磅業股份有限公司 INNER MONGOLIA XINGYE MINING CO.,LTD. 内蒙古兴业矿业股份有限公司 2020 年年度报告全文 1 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人吉兴业、主管会计工作负责人董永及会计机构负责人(会计主管 人员)姚艳松声明：保证本年度报告中财务报告的真实、准确、完整。 除下列董事外，其他董事亲自出席了审议本次年报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 李强新 独立董事 工作原因 姜青梅 1、公司主营业务可能存在市场价格波动、安全生产、环境保护及政策等风 险，敬请广大投资者注意投资风险。 2、公司已在本报告第四节"经营情况讨论与分析"中"公司未来发展的展望" 部分，对可能面临的风险进行描述，敬请广大投资者留意查阅。 3、《中国证券报》、《上海证券报》、《证券时报》、《证券日报》和巨潮资讯 网（www.cninfo.com ...

Financial Performance - Revenue for the quarter increased by 61.11% to RMB 364,698,441.56[3] - Net profit attributable to shareholders surged by 353.25% to RMB 62,850,375.56[3] - Basic earnings per share rose by 353.33% to RMB 0.0342[3] - Weighted average return on equity increased by 1.69% to 1.21%[3] - Revenue for the reporting period reached 364,698,441.56 yuan, a significant increase from 226,364,428.25 yuan in the same period last year[39] - Net profit attributable to the parent company's owners was 62,850,375.56 yuan, a significant improvement from a loss of 24,817,326.38 yuan in the same period last year[41] - Basic earnings per share for the reporting period were 0.0342 yuan, compared to a loss of 0.0135 yuan per share in the previous year[41] - The company's comprehensive income for the reporting period was 65,801,945.39 yuan, a significant improvement from a loss of 21,144,238.50 yuan in the same period last year[41] - Revenue for the reporting period reached 600.57 million yuan, an increase from 564.12 million yuan in the same period last year[43] - Net profit for the period was a loss of 121.01 million yuan, compared to a loss of 102.86 million yuan in the previous year[44] - Basic earnings per share were -0.0659, down from -0.0560 in the same period last year[44] - Parent company revenue increased to 130.72 million yuan from 58.21 million yuan in the previous year[46] - Parent company net profit was 100.33 million yuan, a significant increase from 470.25 million yuan in the previous year[46] - Other comprehensive income after tax for the parent company was -36.26 million yuan, compared to 8.49 million yuan in the previous year[46] - Total comprehensive income for the parent company was 64.06 million yuan, down from 478.74 million yuan in the previous year[46] Cash Flow and Liquidity - Operating cash flow increased by 166.09% to RMB 248,816,361.03[3] - Net cash flow from operating activities decreased by 248.67% to RMB -41,233,630.63, leading to a significant reduction in net cash and cash equivalents[14] - Sales revenue from goods and services received in cash was 707,021,204.33 yuan, a slight increase from 696,888,737.52 yuan in the previous period[47] - Total cash inflow from operating activities was 745,672,262.78 yuan, compared to 702,805,771.64 yuan in the previous period[47] - Net cash flow from operating activities was 246,619,133.38 yuan, a decrease from 275,114,594.53 yuan in the previous period[47] - Net cash flow from investing activities was -165,894,898.73 yuan, slightly improved from -167,870,144.69 yuan in the previous period[47] - Net cash flow from financing activities was -121,957,865.28 yuan, compared to -119,070,303.53 yuan in the previous period[47] - Cash and cash equivalents decreased by 41,233,630.63 yuan, compared to a decrease of 11,825,853.69 yuan in the previous period[47] - Parent company's cash inflow from operating activities was 722,769,972.63 yuan, a decrease from 919,663,849.98 yuan in the previous period[48] - Parent company's net cash flow from operating activities was -135,049,893.51 yuan, an improvement from -456,918,621.31 yuan in the previous period[48] - Parent company's net cash flow from investing activities was 189,872,136.01 yuan, a decrease from 523,984,486.00 yuan in the previous period[48] - Parent company's net cash flow from financing activities was -57,076,789.96 yuan, an improvement from -66,977,777.78 yuan in the previous period[48] Assets and Liabilities - Total assets decreased by 0.92% to RMB 9,184,411,299.92 compared to the end of the previous year[3] - Prepayments increased by 56.57% to RMB 6,898,934.61 due to increased advance payments for material procurement[10][11] - Accounts receivable for dividends increased by 100.00% to RMB 2,400,000.00 due to undeclared cash dividends from a trust company[11] - Notes payable decreased by 100.00% to RMB 0 as bank acceptance notes matured and were settled[12] - Contract liabilities increased by 100.00% to RMB 157,482,010.34 due to the adoption of new revenue recognition standards[13] - Other current liabilities surged by 762.45% to RMB 21,028,022.82 due to reclassification of prepayments and increased customer deposits[13] - Current portion of non-current liabilities decreased by 84.91% to RMB 178,576,298.56 after repaying RMB 1.1 billion in bank loans[13] - Bonds payable increased by 100.00% to RMB 1,095,341,048.12 due to RMB 1.1 billion debt financing through the Beijing Financial Assets Exchange[13] - The company's monetary funds decreased to 171.57 million yuan as of September 30, 2020, compared to 227.58 million yuan at the end of 2019[35] - Accounts receivable decreased to 65.97 million yuan as of September 30, 2020, from 71.47 million yuan at the end of 2019[35] - Inventory increased to 177.13 million yuan as of September 30, 2020, compared to 140.92 million yuan at the end of 2019[35] - Long-term equity investments decreased to 488.69 million yuan as of September 30, 2020, from 493.85 million yuan at the end of 2019[35] - Fixed assets increased to 2.98 billion yuan as of September 30, 2020, compared to 2.91 billion yuan at the end of 2019[35] - Construction in progress decreased to 793.61 million yuan as of September 30, 2020, from 877.78 million yuan at the end of 2019[35] - Intangible assets decreased to 3.34 billion yuan as of September 30, 2020, compared to 3.36 billion yuan at the end of 2019[35] - Total assets decreased to 9.18 billion yuan as of September 30, 2020, from 9.27 billion yuan at the end of 2019[35] - Short-term borrowings increased to 544.87 million yuan from 546.02 million yuan[36] - Accounts payable decreased to 633.36 million yuan from 658.08 million yuan[36] - Contract liabilities stood at 157.48 million yuan[36] - Long-term borrowings decreased to 420.77 million yuan from 504.93 million yuan[36] - Total liabilities decreased to 3.96 billion yuan from 3.89 billion yuan[36] - Total owner's equity increased to 5.22 billion yuan from 5.37 billion yuan[36] - Monetary funds decreased to 1.20 million yuan from 3.45 million yuan[37] - Long-term equity investments decreased to 4.45 billion yuan from 4.45 billion yuan[37] - Total assets increased to 6.07 billion yuan from 5.90 billion yuan[37] - Total liabilities increased to 1.40 billion yuan from 1.30 billion yuan[38] - Total assets amounted to 9,269,385,280.99, with current assets totaling 778,547,530.38 and non-current assets at 8,490,837,750.61[50][51] - Total liabilities stood at 3,894,518,817.70, including current liabilities of 2,936,546,458.52 and non-current liabilities of 957,972,359.18[51] - Total equity reached 5,374,866,463.29, with equity attributable to the parent company at 5,369,239,276.80 and minority interests at 5,627,186.49[52] - The company's monetary funds remained stable at 227,577,602.83[50] - Accounts receivable were reported at 71,470,971.04, showing no change from the previous period[50] - Inventory levels were maintained at 140,921,388.47[50] - Development expenditure increased significantly to 3,364,499,086.20[50] - Short-term borrowings were recorded at 546,018,754.30[51] - Accounts payable stood at 658,078,736.59[51] - Total assets amounted to 5,897,041,169.86 yuan, with current assets totaling 1,069,694,534.65 yuan and non-current assets totaling 4,827,346,635.21 yuan[53] - Long-term equity investments stood at 4,453,711,225.62 yuan, representing a significant portion of non-current assets[53] - Total liabilities were 1,297,527,945.49 yuan, with current liabilities accounting for 1,249,178,460.12 yuan and non-current liabilities at 48,349,485.37 yuan[54] - Owner's equity totaled 4,599,513,224.37 yuan, including 1,837,192,219.00 yuan in share capital and 2,230,174,634.33 yuan in capital reserve[54] - The company's total liabilities and owner's equity equaled total assets at 5,897,041,169.86 yuan[54] Shareholder Information - The largest shareholder, Inner Mongolia Xingye Group Co., Ltd., holds 30.27% of the shares[6] - The second-largest shareholder, Gansu Northwest Mining Group Co., Ltd., holds 7.94% of the shares[6] - The third-largest shareholder, Chifeng Fulong Public Utilities (Group) Co., Ltd., holds 7.52% of the shares[6] Legal and Regulatory Matters - The company won the appeal in the second trial regarding the 51% equity transfer dispute of Tongdu Mining, with the Yunnan High Court supporting the company's appeal request[15] - The company's subsidiary, Yinman Mining, has fully resumed production after passing the safety inspection and reclaiming the "Safety Production License"[16] - The company's controlling shareholder, Xingye Group, entered the restructuring process, with the first creditors' meeting held on July 13, 2020, and the restructuring is still progressing steadily[18] - Yinman Mining experienced a major safety accident on February 23, 2019, leading to a suspension of production until the recent resumption[16] - The company filed an appeal against the first-instance judgment of the Tongdu Mining equity transfer case on May 10, 2020, and the Yunnan High Court held a hearing on September 9, 2020[15] - Xingye Group's restructuring plan and property management plan were approved during the first creditors' meeting on July 13, 2020[18] - The court ruled on July 23, 2020, that Xingye Group, Yulong State Guesthouse, and Budun Yingen should be restructured under a substantive consolidation approach[18] - The company disclosed multiple updates on the progress of the Tongdu Mining equity transfer case and the Yinman Mining safety accident throughout 2019 and 2020[19] - The company's controlling shareholder, Xingye Group, was officially accepted for restructuring by the Chifeng Intermediate People's Court on October 8, 2019[18] - The company's subsidiary, Yinman Mining, completed safety rectifications and resumed production after the 2019 accident, with the "Safety Production License" reissued on July 28, 2020[16] Performance Commitments and Compensation - The net profit of the mining rights assets for 2017, 2018, and 2019 is expected to be no less than RMB 365.6791 million, RMB 463.8965 million, and RMB 463.8965 million respectively, with cumulative profits for 2017-2019 reaching RMB 1,293.4721 million[22] - Tanghe Times' adjusted performance commitment for 2019, 2020, and 2021 is RMB 41.3816 million, RMB 165.6304 million, and RMB 163.7100 million respectively, with a cumulative total of RMB 370.7220 million[22] - Xingye Group needs to compensate Xingye Mining RMB 79.2468 million for Tanghe Times' 2017 performance shortfall, to be paid in cash by June 30, 2019[23] - Rongbang Mining's profit forecasts for 2017, 2018, and 2019 are RMB 4.2220 million, RMB 18.3368 million, and RMB 24.2705 million respectively[23] - As of December 31, 2019, Yinman Mining's cumulative net profit after financial expenses was RMB 880.5640 million, failing to meet the performance commitment[24] - The total compensation amount for Yinman Mining's performance shortfall is RMB 770.5686 million, corresponding to 127,156,540 shares to be repurchased and canceled[25] - Xingye Group, Ji Xiang, Ji Wei, and Ji Zhe are required to return cash dividends totaling RMB 5.0738 million for the held period[25] Investments and Hedging - The company's derivative investment in zinc during Q3 2020 resulted in a loss of RMB 3.3711 million[26] - Zinc futures trading is conducted for hedging purposes, with positions opened based on the company's annual operating goals and strict adherence to the hedging plan to control risks[27] Operating Costs and Expenses - Sales expenses decreased by 40.34% to RMB 1,224,788.29 due to reduced transportation costs from fewer door-to-door deliveries[13] - Other income increased by 141.76% to RMB 566,687.46 due to higher government subsidies and debt restructuring gains[13] - Operating costs for the reporting period were 285,378,334.39 yuan, compared to 231,474,629.31 yuan in the previous year[39] - Parent company's operating costs for the reporting period were 108,523,609.03 yuan, compared to 33,253,262.91 yuan in the previous year[42] - Operating costs amounted to 664.58 million yuan, higher than the previous year's 636.69 million yuan[43] - Interest expenses for the parent company were 63.89 million yuan, slightly lower than the previous year's 66.73 million yuan[46] - Investment income for the parent company was 187.24 million yuan, a decrease from 550.82 million yuan in the previous year[46] Miscellaneous - Non-recurring gains and losses amounted to a net loss of RMB 38,359,451.63[5] - The company implemented the new revenue recognition standard (ASBE 14) effective January 1, 2020, reclassifying prepayments to contract liabilities and other current liabilities[52] - The third quarter report was not audited, as indicated by the company's board of directors[55]