证券代码：000603 证券简称：盛达资源 盛达金属资源股份有限公司投资者关系活动记录表 编号：2022-006 | --- | --- | --- | |------------|------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------| | | | | | | □特定对象调研 □分析师会议 | | | | □媒体采访 | □业绩说明会 | | 投资者关系 | □新闻发布会 □路演活动 | | | 活动类别 | □现场参观 | | | | □ √ 其他 电话会议 | | | 参与单位名 | | 长江证券、睿远基金、太平基金、国海富兰克林基金、华泰证券、韶 | | 称及人员姓 | | 夏投资、杉树资管、国海创新资本、中邮理财、高腾国际资管、成泉 | | 名 | 资本。 | | | ...

Financial Performance - The company's revenue for Q3 2022 reached ¥613,982,801.49, an increase of 48.08% compared to the same period last year[6]. - The net profit attributable to shareholders decreased by 7.27% to ¥116,542,268.70 in Q3 2022, while the net profit after deducting non-recurring gains and losses increased by 1.48% to ¥119,350,059.24[6]. - Total operating revenue for the current period reached ¥1,219,172,796.45, an increase from ¥965,296,051.45 in the previous period, representing a growth of approximately 26.3%[26]. - The net profit for the current period is ¥284,860,229.29, a decrease of 10.2% compared to ¥317,345,597.56 in the previous period[30]. - The total profit for the current period is ¥346,727,298.17, down from ¥379,433,908.68, reflecting a decline of 8.7%[30]. - The operating profit is ¥352,075,065.80, compared to ¥379,587,426.04 in the previous period, indicating a decrease of 7.3%[30]. - The basic earnings per share for the current period is ¥0.3191, down from ¥0.3469 in the previous period, a decrease of 8.4%[32]. - The total comprehensive income for the current period is ¥290,859,782.28, compared to ¥317,345,597.56, reflecting a decline of 8.4%[30]. Assets and Liabilities - The total assets as of the end of Q3 2022 amounted to ¥5,480,961,964.81, reflecting a 3.00% increase from the end of the previous year[6]. - The total assets of the company amounted to ¥5,480,961,964.81, up from ¥5,321,284,820.10, showing a growth of approximately 3.0%[25]. - Total liabilities decreased to ¥2,128,243,765.56 from ¥2,174,518,601.02, reflecting a reduction of about 2.1%[25]. - The total equity attributable to shareholders increased to ¥2,837,728,154.13 from ¥2,612,554,923.17, representing a growth of approximately 8.6%[25]. - The total current assets amounted to approximately CNY 1.78 billion, an increase from CNY 1.69 billion at the beginning of the year, reflecting a growth of about 5.5%[19]. - The long-term equity investments increased to CNY 674.45 million from CNY 647.33 million, showing a growth of approximately 4.2%[19]. Cash Flow - The company's cash flow from operating activities for the year-to-date period increased by 3.48% to ¥387,137,960.97[6]. - The cash flow from operating activities is ¥387,137,960.97, slightly up from ¥374,127,759.82, showing an increase of 3%[34]. - The total cash inflow from operating activities is ¥1,603,751,652.57, compared to ¥1,195,288,720.87, representing a growth of 34%[34]. - The cash flow from investing activities showed a significant improvement, with a net outflow of ¥182,083,987.79, a 76.78% decrease compared to the previous year[10]. - The cash flow from investing activities is negative at -¥182,083,987.79, an improvement from -¥784,022,088.26 in the previous period[37]. - The cash flow from financing activities is negative at -¥179,551,323.62, worsening from -¥68,748,836.54 in the previous period[37]. - The cash and cash equivalents increased to CNY 449.80 million from CNY 372.81 million, representing a growth of approximately 20.6%[19]. - The cash and cash equivalents at the end of the period amount to ¥393,126,680.50, an increase from ¥306,129,772.13 in the previous period[37]. Inventory and Costs - The company's inventory increased by 35.18% to ¥289,352,235.54, primarily due to an increase in raw materials and work-in-progress[10]. - The inventory value rose to CNY 289.35 million, up from CNY 214.05 million, indicating an increase of about 35.1%[19]. - The company reported an 80.43% increase in operating costs, totaling ¥628,335,290.86, attributed to higher costs in the selection business[10]. - Total operating costs increased to ¥904,631,119.62 from ¥603,252,112.77, reflecting a rise of about 49.9%[26]. - Research and development expenses for the current period were ¥9,754,369.28, compared to ¥8,232,308.30 in the previous period, indicating an increase of approximately 18.5%[26]. Investments and Strategic Initiatives - The company's investment income surged by 260.35% to ¥40,524,723.87, mainly from equity method recognition of investment income from shares held in Lanzhou Bank[10]. - Net investment income for the current period was ¥40,524,723.87, significantly higher than ¥11,246,043.94 in the previous period, marking an increase of about 261.5%[26]. - The company established Inner Mongolia Shengda New Energy Industry Co., Ltd. with a registered capital of CNY 500 million, holding a 100% stake[18]. - The company signed a strategic cooperation framework agreement with Inner Mongolia Geological and Mineral Group to enhance collaboration in mining resource exploration and development[18]. Shareholder Information - The company’s major shareholder, Gansu Shengda Group, holds a 31.30% stake, with other significant shareholders including Zhao Mantang at 5.25% and Sanhe Huaguan Resource Technology Co., Ltd. at 4.14%[14].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 605,189,994.96, representing a 9.90% increase compared to CNY 550,663,738.33 in the same period last year[26]. - The net profit attributable to shareholders of the listed company decreased by 8.83% to CNY 103,602,706.41 from CNY 113,642,348.01 year-on-year[26]. - The basic earnings per share decreased by 8.80% to CNY 0.1502 from CNY 0.1647 in the same period last year[26]. - The net profit after deducting non-recurring gains and losses was CNY 103,256,142.33, a decrease of 2.13% from CNY 105,500,788.06 year-on-year[26]. - The company reported a profit from investment of ¥26,477,513.64, which accounted for 16.10% of total profit, reflecting a significant increase of 135.46% compared to ¥11,245,009.48 in the previous year[64]. - The gross profit margin for the non-ferrous metal selection business was 59.40%, down from 68.25% in the previous year, indicating a decrease of 8.85%[63]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -23,841,405.22, a decline of 117.24% compared to CNY 138,264,988.89 in the previous year[26]. - Total assets at the end of the reporting period were CNY 5,249,569,273.83, down 1.35% from CNY 5,321,284,820.10 at the end of the previous year[26]. - The company's current assets totaled CNY 1,565,791,014.62, down from CNY 1,686,024,337.89 at the start of the year, indicating a decrease of about 7.15%[190]. - Cash and cash equivalents decreased to CNY 276,318,831.21 from CNY 372,810,026.41, representing a decline of approximately 26%[190]. - Accounts receivable increased to CNY 25,151,944.54 from CNY 16,540,292.62, showing a growth of about 52.5%[190]. - Inventory rose to CNY 260,332,868.03 from CNY 214,051,595.39, marking an increase of approximately 21.6%[190]. Operational Highlights - The company achieved operating revenue of 605.19 million yuan, an increase of 9.90% year-on-year, with metal mining revenue rising by 12.17% to 535.52 million yuan[42]. - The company operates six mining subsidiaries, with four currently in production and two under construction, including a new project with an annual production capacity of 250,000 tons[37]. - The company’s zinc production in the first half of 2022 was approximately 1.773 million tons, a decrease of 4.12% year-on-year[36]. - The company has a silver resource reserve of nearly 10,000 tons and an annual mining capacity exceeding 2 million tons[46]. - The company is actively pursuing the acquisition of a 72.50% stake in Guizhou Dingshengxin, which includes the core asset of the Pig Gongtang lead-zinc mine, with project approval received from the provincial development and reform commission[39]. Market and Industry Risks - The company faces operational risks as outlined in the report, which investors should be aware of[6]. - The company is exposed to industry cyclical risks and will adjust production and sales strategies to mitigate performance volatility[89]. - The company faces metal price fluctuation risks and will utilize financial derivatives to hedge against price risks[89]. - The average spot silver price for the first half of 2022 was 4,901 yuan/kg, down 9.78% from the same period last year, with a decline from 4,807 yuan/kg at the end of the previous year to 4,498 yuan/kg[36]. Environmental and Social Responsibility - The company emphasizes sustainable development, with all operational mines achieving green certification and ongoing projects adhering to green mining standards[53]. - The company has established pollution prevention measures and complies with environmental standards in its operations[102]. - The company has implemented an environmental self-monitoring plan, with successful emissions monitoring results in 2022 showing compliance with standards for particulate matter, sulfur dioxide, nitrogen oxides, and noise[107]. - The company is actively reducing carbon emissions by upgrading to variable frequency motors, aiming to decrease electricity consumption and energy costs[108]. - The company has maintained a strong commitment to social responsibility, engaging in various public welfare initiatives and ensuring compliance with legal and regulatory requirements[111]. Governance and Shareholder Information - The company has established a governance structure to protect shareholder rights, ensuring fair treatment and communication with all shareholders, including small investors[111]. - The company reported a participation rate of 39.89% in the 2021 annual shareholders' meeting[93]. - The company has experienced changes in its board of directors, with several new appointments and resignations[94]. - The company has not engaged in any major asset or equity sales during the reporting period[85][86]. - The total number of shares is 689,969,346, with 14.66% being restricted shares and 85.34% being unrestricted shares[168].

Financial Performance - The company's operating revenue for Q1 2022 was ¥231,317,542.05, representing a 33.15% increase compared to ¥173,720,914.08 in the same period last year[4]. - Net profit attributable to shareholders was ¥35,150,940.50, a significant increase of 369.43% from ¥7,487,957.93 year-on-year[4]. - The net profit after deducting non-recurring gains and losses was ¥35,533,549.41, up 208.97% from ¥11,500,542.58 in the previous year[4]. - Net profit for the current period was ¥32,667,905.72, compared to ¥2,422,150.47 in the previous period, indicating a significant increase[28]. - Earnings per share (EPS) for the current period was ¥0.0509, compared to ¥0.0109 in the previous period[28]. - The company reported a profit before tax of ¥42,229,670.03, up from ¥10,805,926.80, representing a growth of 290.5%[28]. - The total comprehensive income for the current period was ¥30,979,811.04, compared to ¥6,624,730.47 in the previous period[28]. Cash Flow and Liquidity - The company's cash flow from operating activities showed a net outflow of ¥148,353,412.32, which is a 7.73% increase in outflow compared to ¥137,707,042.50 last year[4]. - The company's cash and cash equivalents amount to ¥221,339,895.88, down from ¥372,810,026.41 at the beginning of the year, a decrease of approximately 40.5%[16]. - Total cash and cash equivalents at the end of the period were $217,913,524.61, compared to $56,325,889.21 in the previous period[36]. - The company reported a net decrease in cash and cash equivalents of -$149,710,506.33, compared to -$728,447,047.90 in the previous period[36]. - Cash inflow from sales of goods and services was $210,434,526.42, a decrease from $222,169,505.68 in the previous period[30]. - Net cash flow from operating activities was -$148,353,412.32, compared to -$137,707,042.50 in the previous period[33]. - Net cash flow from financing activities was $108,245,760.78, an increase from $80,765,875.50 in the previous period[36]. - Cash inflow from borrowings was $331,017,751.72, up from $154,373,766.71 in the previous period[36]. - Cash outflow for debt repayment was $120,079,695.29, compared to $51,760,733.00 in the previous period[36]. Assets and Liabilities - Total assets at the end of Q1 2022 were ¥5,166,998,610.76, a decrease of 2.90% from ¥5,321,284,820.10 at the end of the previous year[4]. - Total liabilities decreased to ¥1,993,985,761.07 from ¥2,174,518,601.02, a reduction of approximately 8.3%[25]. - Total equity increased to ¥3,173,012,849.69 from ¥3,146,766,219.08, reflecting a growth of 0.8%[25]. - The total current assets are ¥1,486,830,955.81, compared to ¥1,686,024,337.89 at the beginning of the year, reflecting a decrease of about 11.8%[19]. - The total non-current assets are ¥3,680,167,654.95, slightly up from ¥3,635,260,482.21, an increase of about 1.2%[19]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 30,354[12]. - Gansu Shengda Group Co., Ltd. holds 31.30% of shares, totaling 215,939,596 shares[12]. - The company has a total of 43,680,140 shares under limited sale conditions held by Gansu Shengda Group Co., Ltd.[12]. Research and Development - Research and development expenses increased by 373.66% to ¥1,677,360.13 from ¥354,125.18 in the same period last year, indicating a significant investment in innovation[8]. - Research and development expenses rose to ¥1,677,360.13 from ¥354,125.18, marking an increase of 373.5%[27]. Operating Costs - The company experienced a 47.00% increase in operating costs, totaling ¥118,868,870.76, primarily due to increased sales and lower gross margins from new products[8]. - Total operating costs increased to ¥200,188,981.22, up from ¥159,894,177.99, reflecting a rise of 25.2%[25]. Accounts Receivable and Inventory - The company reported a significant increase in accounts receivable, which rose to ¥24,213,664.11 from ¥16,540,292.62, an increase of approximately 46.5%[19]. - The company's inventory is valued at ¥185,621,271.26, down from ¥214,051,595.39, a decrease of approximately 13.3%[19].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was RMB 300 million, an increase of 20% compared to the previous year[19] - The company's operating revenue for 2021 was CNY 1,638,010,325.46, a slight increase of 0.01% compared to CNY 1,637,777,142.58 in 2020[30] - Net profit attributable to shareholders for 2021 reached CNY 421,687,477.14, representing a significant increase of 45.10% from CNY 290,622,431.44 in 2020[30] - The net profit after deducting non-recurring gains and losses was CNY 410,353,355.14, up 71.59% from CNY 239,144,741.52 in the previous year[30] - The net cash flow from operating activities for 2021 was CNY 826,669,503.30, an increase of 38.05% compared to CNY 598,801,913.82 in 2020[30] - Basic earnings per share for 2021 were CNY 0.61, a 45.10% increase from CNY 0.42 in 2020[30] - The total profit for the company reached CNY 713.59 million, reflecting a year-on-year increase of 45.56%, while net profit attributable to shareholders was CNY 421.69 million, up 45.10%[72] Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces in 2022, aiming for a 10% increase in market share[19] - Future guidance indicates an expected revenue growth of 12% for 2022, driven by increased production capacity and market expansion[19] - The company is exploring potential mergers and acquisitions to enhance its resource portfolio, with a target completion date by Q3 2022[19] - The company is actively pursuing the acquisition of additional resources and expanding its market presence through strategic initiatives and partnerships[75] - The company is focused on acquiring quality mining resources to expand its resource reserves and enhance its market position[141] Research and Development - The company has invested RMB 50 million in R&D for new product development, focusing on environmentally friendly mining technologies[19] - Research and development (R&D) expenses amounted to ¥17,287,349.12, representing an 11.89% increase compared to the previous year, and accounting for 1.06% of total revenue[104] - The number of R&D personnel increased by 13.57% to 159, with a notable rise in the proportion of personnel aged 30-40[105] - The company is committed to technological innovation and has a strong research background with over 60 patents in resource utilization[190] Operational Efficiency and Cost Management - The company aims to achieve a 15% reduction in operational costs through efficiency improvements and technology upgrades by the end of 2022[19] - The company is enhancing its management system to improve operational quality and efficiency, implementing a mother-subsidiary management framework to strengthen internal controls[81] - The company is focused on optimizing internal management to improve operational efficiency and performance through a clear responsibility system and enhanced execution[150] Environmental and Sustainability Initiatives - The company has been recognized for its commitment to green mining practices, with all four operating mines included in the green mine directory[45] - The company aims to achieve national-level green mine status in 2022, with ongoing efforts to enhance ecological restoration and environmental protection across its mining operations[149] - The company is dedicated to sustainable development and environmental protection, aligning with the "dual carbon" policy to minimize ecological impact[154] Risk Management - The management highlighted the importance of risk management strategies in navigating market volatility and regulatory changes[6] - The risk analysis for derivative investments highlights market risk, liquidity risk, credit risk, technical risk, operational risk, and legal risk[127] - The company has implemented risk control measures including matching hedging business with production operations and setting stop-loss lines[127] Governance and Management Structure - The company has a robust governance structure with independent directors providing oversight and strategic guidance[191] - The board of directors consists of 9 members, including 3 independent directors, which complies with legal requirements[163] - The company has established a performance evaluation system linking executive compensation to individual performance, enhancing motivation and stability among senior management[164] - The company maintains complete independence from its controlling shareholder in terms of business operations, personnel, assets, and financial management[169] Subsidiaries and Acquisitions - The company acquired a 72.50% stake in Guizhou Dingshengxin, with proven lead-zinc resources of 3.2744 million tons, including 2.4606 million tons of zinc (average grade 6.74%) and 813,800 tons of lead (average grade 2.23%)[50] - The company completed the acquisition of 9.12% of Jinye Environmental, increasing its stake to 58.12%, thus becoming the controlling shareholder, focusing on hazardous waste disposal and resource recovery[76] - The company has engaged with various institutions regarding its operational strategies and future development plans, including the profitability and resource potential of the Zhugongtang project[155] Production and Sales Performance - The company’s silver production capacity is nearly 200 million tons, with a silver reserve of nearly 10,000 tons, positioning it as a leader in the industry[47] - The company’s main products include silver ingots, gold, lead-silver concentrates, and zinc concentrates, with nickel ice copper and rock wool produced from urban mining operations[51][52] - The lead concentrate (including silver) generated revenue of CNY 658.18 million, accounting for 40.18% of total revenue, with a year-on-year growth of 32.92%[82] - Silver production rose by 31.11% year-on-year, attributed to an increase in mining operation days[89] Financial Position and Cash Flow - The company has a strong cash flow from operations and a low debt-to-asset ratio, indicating robust financing capabilities and a stable financial structure[68] - The net increase in cash and cash equivalents decreased by 190.89% to -¥417,148,906.17, attributed to increased cash outflows from investment and financing activities[109] - Total investments during the reporting period reached ¥623,009,638.75, representing a 339.66% increase compared to ¥141,702,165.39 in the previous year[121] Shareholder Engagement - The company held 1 annual general meeting during the reporting period, providing both on-site and online voting options to protect the rights of minority shareholders[162] - During the reporting period, the annual shareholders' meeting had a participation rate of 39.69%[175]

Financial Performance - Revenue for Q3 2021 was CNY 414,632,313.12, a decrease of 26.00% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 125,677,576.55, down 20.00% year-on-year[4] - Net profit excluding non-recurring items was CNY 117,612,005.88, a decrease of 3.00% compared to the previous year[4] - The company’s basic earnings per share decreased to CNY 0.1821, down 19.99% compared to the same period last year[4] - The weighted average return on equity was 5.23%, a decrease of 26.27% year-on-year[4] - The company's net profit attributable to shareholders increased to CNY 2,145,100,835.84 from CNY 1,905,780,167.60, reflecting a growth of 12.5%[26] - The net profit for the third quarter was CNY 317,345,597.56, an increase of 37.3% compared to CNY 231,229,540.65 in the same period last year[30] - The total profit amounted to CNY 379,433,908.68, up from CNY 275,902,063.46, reflecting a growth of 37.5% year-over-year[30] - Operating profit reached CNY 379,587,426.04, compared to CNY 276,483,063.95, indicating a year-over-year increase of 37.3%[30] - Basic and diluted earnings per share were both CNY 0.3469, compared to CNY 0.2555 in the previous year, representing a growth of 35.7%[33] - Total comprehensive income attributable to the parent company was CNY 239,320,668.24, compared to a loss of CNY 6,349,777.68 in the previous year[33] Assets and Liabilities - Total assets increased to CNY 5,216,268,258.41, up 12.35% from the end of the previous year[4] - Total assets increased to CNY 5,216,268,258.41 from CNY 4,642,922,619.29, marking a growth of 12.3%[26] - Total liabilities rose to CNY 2,187,451,617.59 from CNY 2,018,744,099.09, an increase of 8.4%[26] - Cash and cash equivalents increased significantly, with total current assets rising to CNY 1,594,950,685.16 from CNY 1,348,921,798.92, a growth of 18.2%[26] - The company reported a significant increase in inventory, which rose to CNY 213,165,756.75 from CNY 126,528,736.68, a growth of 68.3%[26] - Long-term equity investments increased to CNY 639,072,068.19 from CNY 342,071,835.77, reflecting an increase of 86.8%[26] - Current liabilities total $1,344,809,037.77, showing an increase of $6,231,127.58[46] - Total liabilities amount to $2,018,744,099.09, with an increase of $6,758,296.48[46] - The total equity attributable to shareholders is $2,224,094,005.11, remaining unchanged[46] Cash Flow - The company reported a significant increase in cash flow from operating activities, reaching CNY 374,127,759.82, up 117.38% year-on-year[4] - Cash flow from operating activities generated CNY 374,127,759.82, significantly higher than CNY 172,105,438.93 in the same quarter last year[36] - The company reported cash inflows from operating activities of CNY 1,195,288,720.87, down from CNY 1,393,216,641.94 year-over-year[34] - Cash outflows from investing activities totaled CNY 814,624,521.38, compared to CNY 275,811,470.54 in the previous year, indicating increased investment activity[37] - The net cash flow from financing activities was CNY -68,748,836.54, compared to CNY -64,341,653.58 in the same period last year[37] - The company experienced a net decrease in cash and cash equivalents of CNY -478,643,164.98, compared to CNY -137,515,352.32 in the previous year[37] - The cash and cash equivalents balance at the end of the period is $306,129,772.13, an increase from $188,290,681.29[40] - Total current assets amount to $1,348,921,798.92, with a slight decrease of $447,833.30 compared to the previous period[40] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,312[12] - Gansu Shengda Group Co., Ltd. holds 31.30% of shares, totaling 215,939,596 shares, with 43,680,140 shares under pledge[12] - Zhao Mantang, a natural person shareholder, holds 5.25% of shares, totaling 36,189,200 shares, with 25,370,000 shares under pledge[12] Investments and Acquisitions - The company invested RMB 95 million to establish Beijing Shengda New Energy Co., Ltd., aiming to expand its business in the new energy metal sector[16] - The company is actively progressing towards acquiring 72.50% of Guizhou Dingshengxin Mining Development Co., Ltd.[16] - The company holds 155,000,000 shares of Lanzhou Bank, accounting for 3.0237% of its total share capital prior to the IPO[16] Financial Adjustments and Standards - The company has not undergone an audit for the third quarter report[47] - The company has implemented new leasing standards starting from 2021, affecting financial statement adjustments[40] - The report indicates that the company has not disclosed any new product developments or market expansion strategies in this quarter[45]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥550,663,738.33, representing an increase of 11.94% compared to ¥491,928,715.93 in the same period last year[23]. - Net profit attributable to shareholders was ¥113,642,348.01, a significant increase of 490.81% from ¥19,235,097.27 in the previous year[23]. - The net profit after deducting non-recurring gains and losses reached ¥105,500,788.06, compared to a loss of ¥35,328,106.93 in the same period last year, marking a 398.63% improvement[23]. - The net cash flow from operating activities was ¥138,264,988.89, a turnaround from a negative cash flow of ¥51,625,365.96 in the previous year, reflecting a 367.82% increase[23]. - Basic earnings per share rose to ¥0.1647, up 490.81% from ¥0.0279 in the same period last year[23]. - The company's operating revenue for the reporting period was ¥550,663,738.33, representing an increase of 11.94% compared to ¥491,928,715.93 in the same period last year, primarily due to a 157.90% increase in mining revenue[45]. - The operating cost decreased by 47.18% to ¥213,419,655.83 from ¥404,040,592.10, attributed to a shift in revenue structure towards higher-margin mining operations[45]. - The gross profit margin for the non-ferrous metal mining business increased to 68.25%, up 22.74% year-on-year, driven by rising metal prices and increased production volume[49]. - The company reported a substantial increase in income from lead concentrate (including silver), which reached ¥298,999,766.48, a 121.68% increase year-on-year[49]. - The company's tax expenses increased by 232.03% to ¥30,044,129.40, reflecting a rise in total profit[45]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,011,430,249.87, an increase of 7.94% from ¥4,642,922,619.29 at the end of the previous year[23]. - Net assets attributable to shareholders increased to ¥2,339,082,359.54, up 5.17% from ¥2,224,094,005.11 at the end of the previous year[23]. - Cash and cash equivalents decreased by 12.38% to ¥226,747,671.03, down from ¥784,773,037.11 at the end of the previous year[54]. - Long-term equity investments decreased by 4.17% to ¥160,362,592.96, down from ¥342,071,835.77, attributed to the consolidation of JinYe Environmental[54]. - Fixed assets increased by 3.00% to ¥1,317,370,920.42, up from ¥1,081,395,647.46, mainly due to the inclusion of JinYe Environmental in the consolidation scope[54]. - Total liabilities increased from CNY 2,018,744,099.09 at the end of 2020 to CNY 2,136,565,799.25, marking a rise of about 5.85%[166]. - The company's equity attributable to shareholders rose from CNY 2,224,094,005.11 at the end of 2020 to CNY 2,339,082,359.54, an increase of approximately 5.15%[169]. Investments and Acquisitions - The company is in the process of acquiring a 72.50% stake in Guizhou Dingshengxin, which holds a lead-zinc resource of 327.44 million tons with an average grade of 8.97%[33]. - The company completed the acquisition of 70% equity in Inner Mongolia Shengda Guangcai Metal Materials Co., Ltd. for a transfer price of 800.58 million yuan[101]. - The company acquired Hunan Jinye Environmental Technology Co., Ltd., which will help enter the new energy metal sector, enhancing operational performance[73]. - The company’s investment activities generated a net cash outflow of -¥705,833,403.75, a 347.65% increase in outflow compared to -¥157,675,177.12, primarily due to payments for the acquisition of a lead-zinc mine[45]. Market and Industry Conditions - The average price of silver in the first half of 2021 was 5,400 yuan/ton, a 34.83% increase compared to the same period last year[39]. - Zinc futures prices increased by 6.80% from 20,600 yuan/ton to 22,000 yuan/ton, while lead prices rose by 9.59% from 14,600 yuan/ton to 16,000 yuan/ton[39]. - The company expects continued high prices for non-ferrous metals in the second half of 2021, driven by the recovery of domestic industrial production[39]. - The company’s operational performance is closely linked to global economic conditions and the supply-demand dynamics of non-ferrous metals[39]. - The company faces cyclical risks in the industry, with strategies in place to adjust sales and acquisition strategies to mitigate performance volatility[74]. - The company is exposed to risks from fluctuations in non-ferrous metal prices, with measures to manage costs and maximize sales during high price periods[74]. Operational Efficiency and Technology - The company utilizes advanced mining and processing technologies, including priority flotation processes and automated control systems, to enhance production efficiency[35]. - The company operates six mining subsidiaries, with four currently in production and two under preparation, aiming for an annual production capacity of 250,000 tons from the Ba Yan Da Ba silver polymetallic mine[33]. Risk Management - The company maintains a risk reserve fund to ensure timely margin replenishment during hedging operations to avoid liquidity risks[69]. - The company has established internal control procedures for futures hedging, including approval processes and risk management measures[69]. - The company’s hedging strategy is designed to mitigate the operational risks associated with price fluctuations of its main products[69]. - Safety production risks are present due to the nature of the mining industry, prompting the company to enhance daily operational management and safety measures[76]. Shareholder and Equity Information - The company did not distribute cash dividends or issue bonus shares for the reporting period[83]. - The total number of shares after the change is 689,969,346, with 83.89% being unrestricted shares[130]. - Gansu Shengda Group holds 31.30% of the shares, totaling 215,939,596 shares, with 43,680,140 shares under lock-up[138]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period[142]. - The company is in compliance with the regulations regarding shareholder disclosures and has provided necessary information on shareholding changes[141]. Compliance and Governance - The semi-annual financial report was not audited[95]. - There were no major litigation or arbitration matters during the reporting period[99]. - The company did not engage in any significant related party transactions during the reporting period[100]. - The company has established an emergency response plan for environmental incidents and has no recorded administrative penalties for environmental issues[89].

Financial Performance - The company's operating revenue for Q1 2021 was ¥173,720,914.08, representing a 23.37% increase compared to ¥140,809,175.41 in the same period last year[9] - Net profit attributable to shareholders was ¥7,487,957.93, a significant turnaround from a loss of ¥43,257,761.46, marking a 117.31% improvement[9] - The net profit after deducting non-recurring gains and losses was ¥11,500,542.58, compared to a loss of ¥41,297,048.92, reflecting a 127.85% increase[9] - Operating revenue for Q1 2021 rose by 23.37% to ¥173,720,914.08, primarily driven by increased mining revenue after reducing low-margin trading income[24] - Operating costs decreased by 40.82% to ¥80,861,525.69, reflecting a shift towards higher-margin mining revenue[24] - The company reported a 400.50% increase in tax expenses to ¥10,677,820.30, driven by increased resource taxes from mining revenue growth[24] - The total profit for the current period is 10,805,926.80, compared to a loss of 46,142,436.28 in the previous period[74] - The operating profit for the current period is 11,158,263.82, while the previous period recorded a loss of 46,077,873.57[74] Cash Flow - The net cash flow from operating activities was -¥137,707,042.50, an improvement of 14.39% from -¥160,850,380.61 in the previous year[9] - Cash flow from operating activities for the current period is 222,169,505.68, down from 410,696,520.07 in the previous period[85] - Operating cash inflow totaled CNY 239,178,905.60, a decrease from CNY 411,597,356.11 in the previous period[89] - Operating cash outflow amounted to CNY 376,885,948.10, down from CNY 572,447,736.72 year-over-year[89] - Net cash flow from investing activities was CNY -671,505,880.90, worsening from CNY -82,896,505.36 year-over-year[89] - Financing cash inflow totaled CNY 154,473,766.71, with a net cash flow from financing activities of CNY 80,765,875.50, compared to CNY -18,064,629.17 previously[91] Assets and Liabilities - The company's total assets increased by 5.91% to ¥4,917,448,957.52 from ¥4,642,922,619.29 at the end of the previous year[9] - The company's total liabilities increased to CNY 2,151,670,724.49 from CNY 2,018,744,099.09[56] - The total equity attributable to shareholders of the parent company was CNY 2,236,100,116.82, up from CNY 2,224,094,005.11[59] - The company's current assets totaled CNY 1,352,939,136.23, slightly up from CNY 1,348,921,798.92 at the end of 2020[50] - Total liabilities increased to CNY 1,223,211,772.85 from CNY 1,135,380,707.51, representing a rise of approximately 7.7%[66] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,116[14] - The largest shareholder, Gansu Shengda Group Co., Ltd., holds a 31.30% stake, amounting to 215,939,596 shares[14] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[20] Investments and Acquisitions - The company plans to acquire an additional 9.12% stake in Hunan Jinye Environmental Technology Co., increasing its ownership to 58.12%[28] - The company initiated a major asset restructuring process to acquire a 72.50% stake in Guizhou Dingshengxin Mining Development Co., Ltd.[28] - The initial investment cost for domestic and foreign stocks was CNY 27,720,000, with a current fair value of CNY 14,481,342.48, reflecting a loss of CNY 3,507,471.44 during the reporting period[32] Financial Management - Financial expenses increased by 66.78% to ¥25,525,409.96, mainly due to increased bank borrowings[24] - The company reported a decrease in financial expenses, with interest expenses dropping to CNY 26,254,219.28 from CNY 15,491,377.80, indicating improved cost management[71] Derivative Investments and Hedging - The company engaged in silver futures hedging at the Shanghai Futures Exchange, using the settlement price as the fair value for the contracts[38] - The company has established internal controls for hedging activities, including risk management measures to mitigate market price fluctuations[38] - The company has set a stop-loss line to control price fluctuation risks in its hedging process[38] - The cumulative fair value change recognized in equity for the securities investment was CNY 16,746,128.96[32] Other Comprehensive Income - Other comprehensive income after tax attributable to the parent company is 4,202,580.00, with no amount in the previous period[74] - The company reported a financial asset reclassification amounting to 4,202,580.00 in other comprehensive income[77]

Financial Performance - The company's operating revenue for 2020 was ¥1,637,777,142.58, a decrease of 43.54% compared to ¥2,900,686,684.46 in 2019[23] - The net profit attributable to shareholders for 2020 was ¥290,622,431.44, down 35.19% from ¥448,436,292.55 in 2019[23] - Basic earnings per share for 2020 were ¥0.42, a decrease of 35.19% compared to ¥0.65 in 2019[23] - Total revenue for the year was approximately ¥1,637,976,142, with a quarterly breakdown of ¥140,809,175.41 in Q1, ¥351,119,540.52 in Q2, ¥562,067,454.09 in Q3, and ¥583,780,972.56 in Q4[28] - Net profit attributable to shareholders was ¥290,622,571.44 for the year, with a quarterly performance of -¥43,257,761.46 in Q1, ¥62,492,858.73 in Q2, ¥157,067,774.23 in Q3, and ¥114,319,559.94 in Q4[28] - The total profit amounted to CNY 49,023.84 million, down 30.31% year-on-year, while net profit attributable to shareholders was CNY 29,062.24 million, a decline of 35.19%[61] - Revenue from non-ferrous metal mining was $1,151,664,082.30, accounting for 70.32% of total revenue, down 13.69% from $1,334,372,573.51 in 2019[77] - Revenue from non-ferrous metal trading dropped significantly by 68.98% to $485,801,390.55, down from $1,566,024,282.31 in 2019[77] - The company reported a total sales volume of 12,232.43 tons for lead, a decline of 40.94% from 20,710.87 tons in 2019[82] - The company’s lead production volume was 12,504.54 tons, down 35.17% from 19,289.44 tons in 2019[82] Cash Flow and Investments - The net cash flow from operating activities was ¥598,801,913.82, showing a slight increase of 0.19% from ¥597,693,409.65 in 2019[23] - The total cash inflow from investment activities was 69,549,250.68 CNY, a decrease of 66.27% compared to the previous year[95] - The total cash and cash equivalents increased by 458,967,003.50 CNY, marking a significant rise of 973.90% year-on-year[98] - Investment cash inflows decreased by 66.27% compared to the same period last year, primarily due to reduced cash from investment recoveries and related activities[99] - Net cash flow from investment activities increased by 25.17% compared to the same period last year, attributed to decreased fixed asset construction and external investments[99] - Net cash flow from financing activities increased by 243.35% year-on-year, primarily due to a reduction in debt repayment amounts[99] - Cash and cash equivalents at the end of the period amounted to 784.77 million yuan, representing 16.90% of total assets, an increase from 7.49% at the beginning of the year[103] Production and Operations - The company operates six mining subsidiaries, with four currently in production and two under preparation, aiming for a production scale of 250,000 tons per year for the new site[38] - The company’s lead and zinc production in 2020 was 6.44 million tons and 6.43 million tons respectively, with year-on-year growth of 9.4% and 2.7%[45] - In 2020, the company experienced a significant decline in production and sales in the first half due to COVID-19, with operations delayed by 1-2 months compared to planned schedules[44] - The company completed the installation and debugging of the 35,000 tons/year manganese sulfate project, which will enable the effective extraction and utilization of silver, manganese, and gold[63] - The company has six high-quality mines with an annual processing capacity of nearly 2 million tons, establishing itself as a leading silver enterprise in the A-share market[126] Market and Industry Outlook - The average silver price increased by approximately 38% in 2020, with a year-end price of 5,533.74 RMB/kg, after reaching a high of 6,689.14 RMB/kg in Q3[45] - The company expects a recovery in global economic growth in 2021, which will boost industrial metal consumption demand and prices[125] - The company recognizes the importance of the recycling of metal resources as a development direction in the industry[125] Risk Management - The company has faced risks in its operations, which are discussed in the report's section on future development outlook[5] - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments, urging investors to be aware of investment risks[5] - The company has implemented risk management measures to enhance operational quality and efficiency amid a challenging business environment[68] - The company is exposed to metal price fluctuation risks and will utilize financial instruments to hedge against price risks[136] Corporate Governance and Compliance - The company has committed to maintaining independence in personnel, assets, finance, organization, and business from other enterprises controlled by concerted actors[174] - The company ensures that transactions with related parties will be conducted at market prices and will avoid any actions that may harm the interests of the company[153] - The company has committed to timely and full payment of personal income taxes as required by tax authorities[153] - The company did not experience any major litigation or arbitration matters during the reporting period[192] - The company did not have any stock incentive plans or employee shareholding plans during the reporting period[196] Future Plans and Investments - The company plans to expand and deepen cooperation with key banks to explore equity financing and direct financing channels[54] - The company aims to increase its resource reserves through domestic and international mergers and acquisitions, focusing on precious metals and new energy materials such as nickel, cobalt, and lithium[127] - The company plans to acquire a 72.50% stake in Guizhou Dingshengxin Mining Development Co., Ltd., with a deposit of 600 million yuan required as part of the transaction[148] - The company will continue to optimize internal management to enhance operational efficiency and performance[134]

Financial Performance - Operating revenue for the reporting period was CNY 562,067,454.09, down 29.73% year-on-year, and CNY 1,053,996,170.02 for the year-to-date, down 46.15% compared to the same period last year[9] - Net profit attributable to shareholders of the listed company was CNY 157,067,774.23, an increase of 22.70% compared to the same period last year, while year-to-date net profit decreased by 48.18% to CNY 176,302,871.50[9] - Basic earnings per share for the reporting period were CNY 0.2276, an increase of 22.70% year-on-year, while year-to-date earnings per share decreased by 48.18% to CNY 0.2555[9] - The total comprehensive income for the period showed a significant loss of CNY 197,215,952.60 compared to a loss of CNY 14,563,303.42 in the previous period[53] - Total operating revenue for the current period was ¥562,067,454.09, a decrease of 29.7% compared to ¥799,905,073.09 in the previous period[62] - Net profit for the current period was ¥211,235,443.69, an increase of 21.3% from ¥174,192,831.67 in the previous period[68] - Total operating revenue for the current period is CNY 1,053,996,170.02, a decrease of 46.0% compared to CNY 1,957,252,017.98 in the previous period[80] - Net profit for the current period is CNY 231,229,540.65, a decrease of 43.3% compared to CNY 408,068,326.77 in the previous period[83] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,169,642,679.71, a decrease of 4.10% compared to the end of the previous year[9] - The company's current assets totaled CNY 942,871,435.95, down from CNY 1,104,827,899.74, indicating a decrease of about 14.6%[44] - The company's total liabilities decreased to CNY 1,602,686,555.07 from CNY 1,685,080,662.14, a reduction of approximately 4.9%[50] - The company's equity attributable to shareholders decreased to CNY 2,175,342,894.69 from CNY 2,250,764,558.48, a decline of approximately 3.3%[53] - The total assets decreased to ¥3,309,226,022.31 from ¥3,373,815,472.08, a decline of 1.9%[60] - Total liabilities decreased to ¥999,040,230.46 from ¥1,160,032,078.01, a reduction of 13.9%[60] - The company's total liabilities amounted to ¥1,670,041,556.47, reflecting a stable financial position[114] Cash Flow - The net cash flow from operating activities was CNY 223,730,804.89, down 30.42% compared to the same period last year[9] - The company's cash inflow from operating activities decreased by 42.16% to CNY 1,393,216,641.94 compared to CNY 2,408,930,617.80 in the previous year, mainly due to lower sales revenue[25] - The company's cash outflow from investment activities decreased by 38.52% to CNY 275,811,470.54, mainly due to payments for investments in environmental protection[25] - The company's cash inflow from operating activities totaled CNY 1,393,216,641.94, compared to CNY 2,408,930,617.80 in the previous period[100] - The ending balance of cash and cash equivalents was CNY 188,290,681.29, down from CNY 247,250,286.19 in the previous period[103] Investments - The net profit from investment increased significantly by 55833.44% to CNY 16,716,659.10, driven by dividends from Lanzhou Bank and Hualong Securities[22] - The company invested in silver futures with an initial investment amount of ¥14,660.30 million, with a closing investment amount of ¥12,677.18 million, representing 5.83% of the company's net assets at the end of the reporting period[31] - The company reported a profit of ¥1,983.12 million from its derivative investments during the reporting period[31] - The company has implemented risk control measures for its futures hedging business, including setting stop-loss lines and maintaining a certain proportion of risk reserve funds[35] Shareholder Information - The top shareholder, Gansu Shengda Group Co., Ltd., holds 31.30% of the shares, totaling 215,939,596 shares[13] - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[17] Government Subsidies - The company received government subsidies amounting to CNY 1,267,332.48 during the reporting period[9] - Other income increased by 146.39% to CNY 1,267,332.48, primarily due to an increase in government subsidies received[22] Accounting and Compliance - There were no significant changes in the accounting policies for derivative investments compared to the previous reporting period[35] - The company has established internal control procedures for its futures hedging business, ensuring compliance with relevant laws and regulations[35] - The company has not reported any significant legal risks or credit risks associated with its derivative investments[35] - The company has not engaged in any entrusted wealth management during the reporting period[37] - There were no violations of external guarantees during the reporting period[38]