Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,652,938,343.46, representing a 5.96% increase compared to CNY 3,447,409,660.45 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was CNY 257,184,287.05, a significant increase of 100.14% from CNY 128,503,115.55 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 273,198,046.67, up 116.89% from CNY 125,960,357.57 year-on-year[25]. - The basic earnings per share increased to CNY 0.1306, doubling from CNY 0.0653 in the same period last year[25]. - The total assets at the end of the reporting period were CNY 19,390,459,211.29, reflecting a 2.09% increase from CNY 18,993,212,910.28 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company rose to CNY 4,945,131,388.12, an increase of 8.81% from CNY 4,544,668,867.27 at the end of the previous year[25]. - The net cash flow from operating activities was CNY 506,198,233.91, a decrease of 79.24% compared to CNY 2,437,865,479.57 in the same period last year[25]. - The weighted average return on net assets was 5.42%, up from 2.78% in the previous year, indicating improved profitability[25]. Revenue Breakdown - The company's non-ferrous metal resource development revenue reached CNY 292,534.80 million, up 23.14% year-on-year, driven by high zinc prices[48]. - The international engineering contracting business revenue decreased by 30.35% to CNY 51,441.32 million due to the transition between existing and new contracts[47]. - The equipment manufacturing segment reported revenue of CNY 11,733.01 million, a decline of 18.94% year-on-year[49]. - Trade business revenue fell sharply by 76.26% to CNY 2,724.75 million, reflecting a cautious approach to market activities[49]. - Domestic revenue reached ¥3,050,554,949.97, which is 83.51% of total revenue, reflecting an 18.01% increase from ¥2,585,022,930.17 in the previous year[53]. - The revenue from the non-ferrous metals segment was ¥2,925,347,995.71, accounting for 80.08% of total revenue, with a year-on-year growth of 23.14%[53]. Investment and Assets - The company has established three resource bases in Inner Mongolia, Mongolia, and Indonesia, enhancing its resource control capabilities[43]. - The cumulative actual investment in the Indonesia Darai Lead-Zinc Mine project reached 492,371,502.27 CNY, with a project progress of 29%[68]. - The investment amount during the reporting period was 31,982,528.51 CNY, representing a decrease of 36.67% compared to the same period last year[67]. - The company’s cash and cash equivalents at the end of the reporting period were ¥2,808,510,576.87, accounting for 14.48% of total assets[58]. - The total financial assets at the end of the period amounted to 1,712,578,934.96 CNY, with a decrease of 20,703,924.80 CNY due to fair value changes[63]. Risks and Challenges - The company acknowledges potential risks including systemic risks from the COVID-19 pandemic and cyclical risks in resource development[6]. - The international engineering contracting business is under pressure due to global economic downturns and increased sovereign debt risks in developing countries[83]. - The company faces systemic risks from the ongoing COVID-19 pandemic, which could significantly impact overseas business and overall performance[82]. - The company is adapting to the challenges posed by the global economic environment, including supply chain disruptions and increased external risks in project countries[38]. Environmental and Social Responsibility - The company is committed to improving its environmental management system and promoting green mining practices[86]. - All pollution prevention facilities operated effectively during the first half of 2022, achieving a 100% operational efficiency rate[97]. - The company has made significant investments in pollution control technologies and infrastructure improvements to enhance environmental compliance[97]. - The company completed environmental impact assessments and registrations for several new projects in compliance with regulations during the reporting period[97]. - In the first half of 2022, the company made various donations totaling CNY 340,000, supporting local community initiatives and education[108]. Corporate Governance and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[6]. - The semi-annual financial report has not been audited[119]. - The total number of common shareholders at the end of the reporting period is 118,636[178]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[186]. - The total amount of related party transactions for the first half of 2022 was approximately 183,361.92 million CNY, with a significant portion being sales of goods and services[127].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,408,803,162.02, a decrease of 11.98% compared to ¥1,600,470,575.14 in the same period last year[4] - The net profit attributable to shareholders was ¥89,251,144.06, down 3.76% from ¥92,733,982.09 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥82,152,983.66, a decline of 9.38% compared to ¥90,661,236.16 in the previous year[4] - The net cash flow from operating activities was ¥95,358,446.23, a significant drop of 95.95% from ¥2,352,874,104.24 in the same period last year[4] - The basic earnings per share for the period was ¥0.0453, down 3.82% from ¥0.0471 in the same period last year[4] - The diluted earnings per share also stood at ¥0.0453, reflecting a 3.82% decrease compared to the previous year[4] - Net profit for the current period was ¥134,385,054.64, a decline of 10.5% compared to ¥150,131,798.73 in the previous period[21] - The company reported a total comprehensive income of ¥88,331,001.16, down from ¥179,216,061.60 in the previous period[21] - Earnings per share (basic and diluted) were both ¥0.0453, a decrease from ¥0.0471[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥18,290,166,938.58, a decrease of 3.70% from ¥18,993,212,910.28 at the end of the previous year[4] - Total assets decreased from CNY 18,993,212,910.28 at the beginning of the year to CNY 18,290,166,938.58 at the end of the period, a reduction of approximately 3.7%[15] - Current assets decreased from CNY 9,122,093,471.97 to CNY 8,483,628,409.61, representing a decline of about 7.0%[15] - Cash and cash equivalents decreased from CNY 3,399,331,867.29 to CNY 2,832,550,636.20, a decrease of approximately 16.7%[15] - Total liabilities decreased from CNY 10,537,013,944.80 to CNY 10,022,134,365.62, a reduction of approximately 4.9%[18] - Non-current liabilities decreased from CNY 5,627,722,308.23 to CNY 4,377,561,108.52, a decrease of about 22.2%[18] - Total equity decreased from CNY 8,456,198,965.48 to CNY 8,268,032,572.96, a decline of approximately 2.2%[18] Operating Costs and Expenses - Total operating costs decreased to ¥1,283,510,167.35, down 10.1% from ¥1,427,085,775.11[21] - Research and development expenses increased to ¥2,062,472.49, up 43.2% from ¥1,440,301.81[21] Cash Flow - Cash flow from operating activities generated a net amount of ¥95,358,446.23, significantly lower than ¥2,352,874,104.24 in the previous period[24] - Cash and cash equivalents at the end of the period decreased to ¥2,623,051,982.38 from ¥4,924,009,247.54[24] Other Financial Metrics - The company received government subsidies amounting to ¥556,266.43 during the reporting period[6] - The total non-recurring gains and losses amounted to ¥7,098,160.40 after accounting for tax effects and minority interests[6] - Investment income increased to ¥6,008,317.08, compared to ¥3,855,460.82 in the previous period[21] - The company experienced a significant increase in credit impairment losses, totaling ¥34,244,990.55, compared to a gain of ¥2,630,270.69 in the previous period[21] - Inventory decreased from CNY 1,741,985,459.90 to CNY 1,646,563,470.13, a reduction of about 5.5%[15] - Accounts receivable decreased from CNY 864,145,573.09 to CNY 824,121,300.08, a decrease of approximately 4.6%[15] - Contract liabilities increased from CNY 1,091,416,892.79 to CNY 1,155,470,207.72, an increase of about 5.9%[18]

Financial Performance - The company reported a significant increase in revenue, reaching RMB 10.5 billion, representing a year-on-year growth of 15%[15]. - The company has set a future revenue guidance of RMB 12 billion for the next fiscal year, indicating a growth target of 14%[15]. - The company's operating revenue for 2021 was ¥6,532,556,475.01, a decrease of 3.73% compared to 2020[23]. - The net profit attributable to shareholders for 2021 was ¥41,452,741.24, representing a significant increase of 92.37% year-over-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,921,060.79, a 165.72% increase compared to the previous year[23]. - The net cash flow from operating activities reached ¥2,571,134,547.08, marking a remarkable increase of 901.58% from 2020[23]. - The company reported a basic earnings per share of ¥0.0210, up 92.66% from the previous year[23]. - The average return on equity was 0.91%, an increase of 0.45% compared to 2020[23]. - The company achieved operating revenue of 653,255.65 million yuan, a decrease of 3.73% compared to the previous year, while net profit attributable to the parent company increased by 92.37% to 4,145.27 million yuan[62]. - The international engineering contracting business saw a significant decline, with revenue of 124,510.32 million yuan, down 33.51% year-on-year, due to challenges such as the COVID-19 pandemic and rising raw material prices[63]. User and Market Growth - User data showed a total of 1.2 million active users, an increase of 20% compared to the previous year[15]. - The company reported a significant increase in user data and operational metrics in the Q2 2021 report, showcasing growth in its mining operations[186]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[15]. - The company plans to enhance its market presence through strategic partnerships and contracts, including a project with China Fifteenth Metallurgical Construction Group[184]. Product Development and Innovation - New product development includes the launch of a cutting-edge metal processing technology, expected to enhance production efficiency by 25%[15]. - The company is investing RMB 500 million in research and development for sustainable mining practices over the next three years[15]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing operational efficiency[172]. - The company completed 25 patent applications during the reporting period, including 4 invention patents, and received a first-class award for technological progress from the China Nonferrous Metals Association[58]. Strategic Initiatives and Acquisitions - A strategic acquisition of a local competitor is in progress, which is anticipated to add an additional RMB 1 billion in annual revenue[15]. - The company is considering strategic acquisitions to bolster its competitive position, with a budget of 300 million RMB allocated for potential deals[172]. - The company is actively expanding its resource base, focusing on overseas projects in Africa, Central Asia, and Southeast Asia, while advancing the construction of the Dali Zinc Mine project[61]. Risk Management and Compliance - The company faces potential risks including international project contracting and environmental policy changes, which could impact future performance[6]. - The management emphasizes the importance of maintaining operational safety and compliance with environmental regulations to mitigate risks[6]. - The company is addressing environmental compliance challenges as stricter regulations on emissions and waste management are being enforced[138]. - The company has established a risk management framework for futures hedging, which includes operational and approval processes to mitigate trading risks[120]. Governance and Management - The company has established a governance structure that ensures shareholders can fully exercise their rights and enjoy equal status, with a participation rate of 41.62% in the first extraordinary general meeting of 2021[150]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, institutions, and finance, ensuring autonomous operational capabilities[149]. - The company has implemented a transparent performance evaluation and incentive mechanism for directors, supervisors, and managerial personnel, ensuring compliance with legal regulations[145]. - The company is focusing on enhancing its operational efficiency and governance through the recent appointments and adjustments in leadership roles[164]. Financial Management and Investments - The company has approved a comprehensive credit line of 1.8 billion RMB from Agricultural Bank of China[181]. - A total of RMB 10 billion comprehensive credit applications were approved from Industrial Bank and Minsheng Bank to support future projects[187]. - The company is currently investing in the Indonesia Darai Lead-Zinc Mine project, with a total investment of ¥460,388,973.76, and the project is 27% complete[106]. - The company has established independent financial management systems and has opened independent bank accounts since its listing, ensuring financial autonomy[149]. Operational Efficiency and Cost Management - The company is committed to ensuring stable operations of key enterprises, with a focus on cost management and efficiency improvements in production processes[134]. - The company is enhancing its trade operations by coordinating raw material procurement and product sales, while strictly controlling speculative activities[135]. - The company invested 31.11 million yuan in safety production throughout the year, with a 100% completion rate for safety training covering 43,700 personnel[56]. - The company is enhancing its project management capabilities and risk control systems to improve operational efficiency and resilience against external risks[61].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 1,427,485,676.70, a decrease of 9.32% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was CNY 21,233,460.86, an increase of 167.97% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 16,515,530.98, up 122.20% from the previous year[4] - Total operating revenue for the third quarter of 2021 was CNY 4,874,895,337.15, an increase from CNY 4,789,212,822.48 in the same period last year, representing a growth of approximately 1.8%[26] - Operating profit for the third quarter of 2021 reached CNY 419,829,341.25, significantly higher than CNY 158,915,026.93 in the previous year, marking an increase of about 164.5%[26] - Net profit attributable to the parent company for the third quarter of 2021 was CNY 149,736,576.41, compared to CNY 48,551,361.12 in the same period last year, reflecting a growth of approximately 208.5%[26] - The comprehensive income for the third quarter of 2021 was CNY 281,782,712.31, compared to CNY 28,161,855.68 in the previous year, showing a substantial increase[26] Cash Flow - The net cash flow from operating activities for the year-to-date period reached CNY 2,653,113,862.93, reflecting a significant increase of 2,736.16%[4] - The net cash flow from operating activities for the current period is CNY 2,653,113,862.93, a significant increase from CNY 93,545,993.56 in the previous period[29] - Cash inflow from operating activities totaled CNY 8,271,027,440.77, up from CNY 5,286,098,630.06, representing a year-over-year increase of approximately 56.4%[29] - Cash outflow from operating activities increased slightly to CNY 5,617,913,577.84 from CNY 5,192,552,636.50, indicating a rise of about 8.2%[29] - The net cash flow from financing activities was negative at CNY -2,402,915,781.92, compared to a positive CNY 303,414,093.60 in the previous period[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 19,116,500,380.37, a decrease of 13.49% compared to the end of the previous year[4] - The total liabilities decreased to CNY 10,587,377,300.03 as of September 30, 2021, down from CNY 13,102,535,026.07 at the end of 2020, a reduction of about 19.2%[23] - Current liabilities totaled CNY 4,673,490,882.44, a decrease of approximately 46.5% from CNY 8,757,166,421.13 at the end of 2020[23] - Long-term borrowings increased to CNY 4,938,274,184.62 from CNY 3,304,363,732.05, representing an increase of about 49.5%[23] - The company's total equity as of September 30, 2021, was CNY 8,529,123,080.34, down from CNY 8,993,699,405.64 at the end of 2020, a decrease of approximately 5.2%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 123,922[11] - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 33.75% of shares, totaling 664,613,232 shares[11] Expenses - The company reported a decrease of 39.45% in sales expenses compared to the same period last year, primarily due to the exclusion of certain subsidiaries from the consolidation scope[7] - Research and development expenses decreased by 38.33% year-on-year, attributed to reduced R&D investment by a subsidiary[7] - Research and development expenses for the third quarter of 2021 were CNY 15,765,005.69, down from CNY 25,561,968.00 in the previous year, indicating a reduction of about 38.4%[26] - The company experienced a 158.23% decrease in financial expenses compared to the previous year, mainly due to foreign exchange gains[9] - The company reported a financial expense of CNY -128,778,036.88 in the third quarter of 2021, a significant improvement compared to CNY 221,155,637.84 in the same period last year[26] Inventory and Receivables - Accounts receivable decreased to ¥818,335,071.02 from ¥1,110,878,840.44 year-over-year[20] - Inventory as of September 30, 2021, is ¥1,327,034,922.61, down from ¥1,551,851,889.45 at the end of 2020[20] Cash and Equivalents - The company's cash and cash equivalents as of September 30, 2021, amount to ¥3,215,131,427.40, a decrease from ¥3,360,578,567.88 at the end of 2020[20] - The total cash and cash equivalents at the end of the period amounted to CNY 3,021,435,251.55, down from CNY 4,060,614,836.84[29] Restructuring - The company approved a restructuring plan for its subsidiary, Shenyang Metallurgical Machinery Co., Ltd., on July 14, 2021[17] - The company received court approval for the restructuring plan on September 1, 2021[17]

Financial Performance - The company's operating revenue for the reporting period was CNY 3,447,409,660.45, an increase of 7.23% compared to CNY 3,214,927,940.39 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was CNY 128,503,115.55, representing a growth of 61.05% from CNY 79,792,888.66 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 125,960,357.57, a significant increase of 505.03% compared to a loss of CNY 31,099,180.85 in the same period last year[22]. - The net cash flow from operating activities reached CNY 2,437,865,479.57, a remarkable increase of 408.27% from a negative cash flow of CNY 790,814,878.56 in the previous year[22]. - Basic earnings per share were CNY 0.0653, up 61.23% from CNY 0.0405 in the same period last year[22]. - Total revenue for the reporting period reached ¥3,447,409,660.45, representing a year-on-year increase of 7.23% from ¥3,214,927,940.39[44]. - The total profit for the first half of 2021 was CNY 348,113,788.60, up 78.2% from CNY 195,284,712.58 in the same period of 2020[175]. - The company achieved cash inflow from sales of goods and services of ¥5,030,544,109.30, a substantial increase from ¥2,300,331,871.59 in the previous year[181]. Asset and Liability Management - Total assets at the end of the reporting period were CNY 20,006,423,368.76, a decrease of 9.46% from CNY 22,096,234,431.71 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were CNY 4,677,033,770.71, an increase of 2.29% from CNY 4,572,236,124.61 at the end of the previous year[22]. - Long-term borrowings increased to ¥5,034,133,988.21, representing 25.16% of total liabilities, a rise of 10.21% from the previous year[49]. - The company's total liabilities amounted to CNY 11,496,464,412.86, a decrease of 12.3% from CNY 13,102,535,026.07 on December 31, 2020[166]. - The company's current liabilities totaled CNY 5,463,068,673.92, down 37.5% from CNY 8,757,166,421.13 at the end of 2020[166]. Revenue Breakdown - The international engineering contracting business revenue decreased by 21.09% to CNY 73,853.10 million due to the ongoing impact of the COVID-19 pandemic[31]. - The revenue from non-ferrous metal mining and smelting increased by 30.14% to CNY 237,557.72 million, benefiting from a relatively high zinc price[33]. - Trade business revenue fell by 45.42% to CNY 11,475.34 million, as the company adopted a cautious approach amid ongoing global pandemic challenges[34]. - The domestic revenue accounted for 74.98% of total revenue, amounting to ¥2,585,022,930.17, which is a 20.77% increase year-on-year[44]. Research and Development - Research and development investment rose by 45.64% to ¥8,411,093.02, primarily due to increased R&D expenditures by the subsidiary Zhongse White Mine[40]. - The company is focusing on digital mining construction and resource reserve layout to improve resource supply capabilities[33]. Environmental and Social Responsibility - The company reported that all pollution prevention facilities operated effectively during the first half of 2021, achieving a 100% operational efficiency rate[6]. - The company completed environmental protection acceptance for several projects, including hazardous waste storage facilities and a new production line[6]. - The company contributed a total of 201,756 CNY to poverty alleviation by purchasing local products from Lianghe County, Dehong Prefecture, Yunnan Province[90]. - A donation of 12,900 CNY was made to provide "love school uniform packages" for 50 impoverished students at Chifeng No. 7 Middle School[90]. Strategic Initiatives - The company aims to enhance its market competitiveness and risk resistance through the integration of international engineering contracting and non-ferrous metal mining and smelting[29]. - The company is actively expanding its lead and zinc resource holdings, with ongoing construction of the Darui lead-zinc mine project[30]. - The company is exploring diversification in engineering contracting, targeting markets along the "Belt and Road" initiative[30]. - The company is committed to expanding its overseas market presence, particularly in Indonesia and Russia, to mitigate risks associated with domestic operations[74]. Corporate Governance - The company held four shareholder meetings during the reporting period, with investor participation rates of 41.62%, 41.13%, 40.52%, and 40.49% respectively[1]. - There were changes in the board of directors and management, including the election of new directors and the resignation of several executives[2]. - The company did not implement any employee stock ownership plans or other incentive measures during the reporting period[4]. Risk Management - The company faces various risks including systemic risks from the COVID-19 pandemic and cyclical risks in resource development[5]. - The international engineering contracting business is under pressure due to global economic downturns and geopolitical tensions, affecting project financing and stability[70]. - The company has established internal control procedures for futures hedging to mitigate operational risks[63].

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,600,470,575.14, representing a 17.81% increase compared to ¥1,358,559,027.42 in the same period last year[7] - Net profit attributable to shareholders was ¥92,733,982.09, up 26.12% from ¥73,528,354.80 year-on-year[7] - The net profit after deducting non-recurring gains and losses surged by 262.29% to ¥90,661,236.16 from ¥25,024,158.84 in the previous year[7] - Basic and diluted earnings per share were both ¥0.0471, reflecting a 26.27% increase from ¥0.0373 in the previous year[7] - The company's total comprehensive income for Q1 2021 was CNY 179,216,061.60, significantly higher than CNY 96,654,508.14 in Q1 2020, an increase of 85.5%[45] - The net profit for the current period was CNY 92,847,633.69, a significant turnaround from a net loss of CNY 20,299,419.43 in the previous period[48] - The total profit amounted to CNY 101,365,059.92, compared to a loss of CNY 23,990,548.72 in the previous period[48] - The company's operating profit was CNY 99,754,028.29, a recovery from an operating loss of CNY 24,339,841.72 in the previous period[48] Cash Flow - The net cash flow from operating activities reached ¥2,352,874,104.24, a significant increase of 716.59% compared to a negative cash flow of ¥381,592,526.42 in the same period last year[7] - The cash flow from operating activities generated a net amount of CNY 2,352,874,104.24, a recovery from a negative cash flow of CNY 381,592,526.42 in the previous period[51] - Cash inflow from operating activities totaled ¥3,209,763,717.72, compared to ¥458,150,778.33 in the previous period, indicating a growth of approximately 600%[54] - The total cash outflow from operating activities was ¥902,164,488.40, up from ¥639,998,220.35 in the previous period, reflecting an increase of about 41%[54] - The ending balance of cash and cash equivalents increased to ¥2,427,334,346.30 from ¥484,708,125.92 in the previous period, marking a substantial rise[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥21,164,114,823.67, a decrease of 4.22% from ¥22,096,234,431.71 at the end of the previous year[7] - The company's current assets decreased to CNY 10,785,455,212.27, down 7.85% from CNY 11,705,180,941.09 at the end of 2020[33] - The total liabilities of the company decreased to CNY 11,997,406,290.58, down 8.43% from CNY 13,102,535,026.07[36] - The company's total assets decreased to CNY 12,766,980,477.03 from CNY 13,658,795,872.57, reflecting a decline of 6.5%[42] - Long-term borrowings increased to CNY 4,167,646,783.89 as of March 31, 2021, compared to CNY 3,034,363,732.05 at the end of 2020, an increase of 37.4%[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 116,955[10] - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., held 33.75% of the shares, amounting to 664,613,232 shares[11] - The net assets attributable to shareholders increased by 2.69% to ¥4,695,427,996.36 from ¥4,572,236,124.61 at the end of the previous year[7] - The equity attributable to shareholders of the parent company increased to CNY 4,695,427,996.36, up 2.69% from CNY 4,572,236,124.61[36] Expenses and Losses - Financial expenses increased by 256.92% to -85,053,911.78 from -23,830,007.65 due to exchange rate fluctuations resulting in higher foreign exchange gains[17] - Credit impairment losses decreased by 82.32% to -2,630,270.69 from -14,877,656.93, primarily due to lower impacts in the current period[17] - Research and development expenses rose to CNY 1,440,301.81 in Q1 2021, compared to CNY 1,176,827.17 in Q1 2020, marking an increase of 22.3%[45] Investment and Other Activities - The company reported non-recurring gains and losses totaling ¥2,072,745.93 for the reporting period[7] - The company reported no securities investments during the reporting period[19] - The company has established internal control procedures for futures hedging, which are in compliance with relevant laws and regulations[23] - No non-operating fund occupation by controlling shareholders or related parties was reported during the period[28]

Financial Performance - The company's operating revenue for 2020 was ¥6,785,792,161.28, a decrease of 38.75% compared to the previous year[21]. - The net profit attributable to shareholders was ¥21,548,930.58, representing a 102.03% increase from a net loss of ¥1,059,949,942.82 in 2019[21]. - The net cash flow from operating activities was ¥763,712,405.29, a significant improvement from a negative cash flow of ¥1,067,310,418.71 in the previous year[21]. - Basic and diluted earnings per share were both ¥0.0109, recovering from a loss of ¥0.5382 per share in 2019[21]. - The total assets at the end of 2020 were ¥22,096,234,431.71, down 12.66% from ¥25,473,356,455.04 in 2019[21]. - The net assets attributable to shareholders decreased by 4.81% to ¥4,572,236,124.61 from ¥4,856,580,520.23 in 2019[21]. - The company achieved operating revenue of 678,579.22 million yuan in 2020, a decrease of 38.75% compared to the previous year, while net profit attributable to the parent company was 2,154.89 million yuan, an increase of 102.03% year-on-year[70]. - The revenue from the non-ferrous metals segment was ¥3,958,827,576.19, accounting for 58.34% of total revenue, down 16.52% from ¥4,742,179,507.10 in 2019[78]. - The gross profit margin for the contracting engineering segment was 25.54%, with a year-on-year decrease of 18.70%[78]. Risk Factors - The company faces potential risks including systemic risks from the COVID-19 pandemic, multiple risks in international engineering contracting, cyclical risks in resource development, restructuring risks in equipment manufacturing, safety production risks, and environmental policy risks[5]. - The company emphasizes the importance of risk awareness for investors regarding its future plans and projections[4]. - The company anticipates challenges from the global economic environment, including instability and uncertainty due to the COVID-19 pandemic and geopolitical tensions[128]. - The global economic downturn and geopolitical tensions are creating significant risks for the international engineering contracting business, with increased sovereign debt default risks in developing countries[136]. - Environmental protection policies are tightening, with increased scrutiny on emissions from lead-zinc mining and smelting processes, posing operational pressures[139]. Corporate Governance - The company has committed to ensuring the accuracy and completeness of its financial reports, with key personnel affirming the integrity of the annual report[4]. - The company has not experienced any changes in its controlling shareholders since its listing[20]. - The company has a dedicated investor relations team to facilitate communication with stakeholders[16]. - The company has committed to not reducing its shareholding by 5% or more within six months after the lifting of restrictions on shares, ensuring transparency in any future sales[150]. - The company has maintained compliance with all commitments made by its controlling shareholders and related parties[150]. Business Operations - The company has expanded its main business scope to include leasing of self-owned properties and various import and export activities since its establishment[20]. - The company is actively expanding its lead and zinc mining resources, with ongoing construction and investment in the Darui lead-zinc mine project, which is expected to significantly increase production capacity[44]. - The company has developed a comprehensive project development model that includes project financing, EPC contracting, product sales, and operational services[51]. - The company has implemented various management measures for procurement, bidding, and supplier management to ensure quality and cost control in its international engineering projects[52]. - The company is committed to optimizing resource allocation and expanding high-quality supply in the non-ferrous metal industry[129]. Investment and Financing - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[5]. - The company reported an investment loss of -595,156,327.14 CNY, which accounted for 209.80% of the total profit, primarily due to changes in the consolidation scope of subsidiaries[105]. - The total investment amount for the reporting period was ¥149,991,138.14, a decrease of 78.02% compared to ¥682,425,120.75 in the same period last year[111]. - The company invested ¥149,991,138.14 in the Indonesia Darai Lead-Zinc Mine project, with a cumulative actual investment of ¥367,162,405.45 as of the end of the reporting period[111]. - The company engaged in derivative investments, with an initial investment amount of ¥566.21 million in zinc futures, resulting in a reported loss of -¥1,277.45 million for the period[116]. Research and Development - The company filed 46 patents during the reporting period, including 9 invention patents, and two subsidiaries were recognized as "National High-tech Enterprises"[64]. - The company’s research and development expenses increased by 7.13% to ¥6,831,822.40 in 2020 from ¥6,377,352.89 in 2019[96]. - The number of R&D personnel decreased by 26.49% from 185 in 2019 to 136 in 2020, with the proportion of R&D personnel to total employees dropping from 2.92% to 2.22%[100]. Legal and Compliance - As of December 31, 2020, the company had 16 ongoing litigation and arbitration cases with a total amount involved of approximately 107.49 million yuan[165]. - The company has not disclosed any major litigation or arbitration matters during the reporting period[165]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[153]. - The company has not made any significant accounting errors that require retrospective restatement during the reporting period[156]. Market and Industry Trends - The average zinc price fluctuated significantly in 2020, initially dropping due to the pandemic but rebounding as domestic conditions improved and international supply tightened[41]. - The zinc metal resource development is currently in a down cycle, with potential downward pressure on zinc prices in 2021 due to demand constraints from infrastructure and automotive sectors[136]. - The company is actively pursuing talent management strategies to retain high-quality engineers and enhance its international project capabilities[65].

Financial Performance - Operating revenue for the period was ¥1,574,284,882.09, representing a decline of 37.90% year-on-year[8] - Net profit attributable to shareholders was a loss of ¥31,241,527.54, an increase in loss of 83.77% compared to the same period last year[8] - Basic earnings per share were -0.0158, reflecting an increase in loss of 83.83% year-on-year[8] - Operating revenue decreased by 44.76% year-on-year, influenced by market conditions and fluctuations in non-ferrous metal prices[17] - The total operating revenue for the first three quarters was CNY 4,789,212,822.48, a decrease of 44.1% compared to CNY 8,669,833,201.30 in the same period last year[53] - The net profit for the first three quarters was CNY 184,507,838.04, compared to a net profit of CNY 37,200,786.02 in the previous year, indicating a significant improvement[53] - The company reported a total operating cost of CNY 4,774,786,566.63 for the first three quarters, down from CNY 8,420,072,967.28 in the previous year, indicating improved cost management[53] Cash Flow - The net cash flow from operating activities was ¥884,360,872.12, a significant increase of 616.82% compared to the previous year[8] - Net cash flow from operating activities decreased by 84.82% year-on-year, mainly due to a significant decrease in cash receipts from engineering contracting business[17] - The cash flow from operating activities for the current period is ¥93,545,993.56, a decrease of 85% from ¥616,231,643.99 in the previous period[57] - The net cash flow from operating activities for the current period was -523,594,323.74 CNY, an improvement from -757,941,358.43 CNY in the previous period[19] - The company reported a total cash inflow from operating activities of 1,851,578,803.34 CNY, down from 2,660,370,531.80 CNY year-over-year[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥23,982,572,784.94, a decrease of 5.85% compared to the previous year[8] - The company's current assets totaled CNY 12,805,469,062.96, down from CNY 14,181,500,145.89 at the end of 2019, reflecting a decrease of approximately 9.7%[40] - The company's total liabilities decreased to CNY 15,322,228,537.95 from CNY 16,773,812,773.29, indicating a decline of about 8.7%[42] - Total liabilities amounted to CNY 16,773,812,773.29 as of January 1, 2020, unchanged from December 31, 2019[68] - Current liabilities totaled CNY 13,219,717,926.42 as of January 1, 2020, remaining the same as December 31, 2019[68] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 114,147[11] - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., held 33.75% of the shares[11] Research and Development - R&D expenses increased by 416.54% year-on-year, mainly due to increased R&D investment by the subsidiary Zhongse Mining[17] - Research and development expenses for the first three quarters were CNY 25,561,968.00, significantly higher than CNY 4,948,736.57 in the same period last year, reflecting increased investment in innovation[53] Investment Income - Non-operating income included a gain from the disposal of non-current assets amounting to ¥116,097,176.84[8] - Investment income increased by 39.69% year-on-year, primarily from gains generated by the disposal of part of the equity in Shengda Resources by the subsidiary Hongye Investment[17] - The investment income for the current period is ¥104,305,502.25, down from ¥211,517,094.40 in the previous period[55] Government Subsidies - The company received government subsidies totaling ¥20,722,335.89 during the reporting period[8] Other Financial Metrics - The weighted average return on net assets was -0.36%, a decrease of 3.33% compared to the previous year[8] - The company reported a financial expense of CNY 221,155,637.84 for the first three quarters, an increase from CNY 154,238,013.10 in the previous year[53] - The company experienced a significant reduction in sales expenses, which were CNY 100,411,175.83 compared to CNY 162,564,514.52 in the previous year[53]

Financial Performance - The company's operating revenue for the reporting period was ¥3,214,927,940.39, a decrease of 47.59% compared to ¥6,134,692,871.02 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥79,792,888.66, down 1.29% from ¥80,836,337.74 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥31,099,180.85, a decline of 148.71% compared to ¥63,841,899.46 in the same period last year[22]. - The net cash flow from operating activities was -¥790,814,878.56, a significant decrease from ¥787,346,393.25 in the previous year, representing a change of -200.44%[22]. - The basic earnings per share were ¥0.0405, a decrease of 1.22% from ¥0.0410 in the same period last year[22]. - The diluted earnings per share were also ¥0.0405, reflecting a decrease of 1.22% compared to ¥0.0410 in the previous year[22]. - The weighted average return on net assets was 1.63%, slightly up from 1.54% in the previous year[22]. - The company reported a total comprehensive income of CNY 180,646,256.81 for the first half of 2020, down from CNY 245,303,902.00 in the first half of 2019, a decrease of 26.4%[156]. - The company reported a significant decrease in sales due to reduced procurement from related parties, impacting overall sales performance[85]. Assets and Liabilities - The total assets at the end of the reporting period were ¥25,481,079,803.53, showing a slight increase of 0.03% from ¥25,473,356,455.04 at the end of the previous year[22]. - The total liabilities were CNY 16,648,473,418.40, a slight decrease from CNY 16,773,812,773.29, indicating a reduction of about 0.74%[147]. - The total equity attributable to shareholders reached CNY 4,939,198,674.10, up from CNY 4,856,580,520.23, indicating an increase of about 1.70%[147]. - Cash and cash equivalents at the end of the reporting period amounted to ¥4,401,315,131.41, representing 17.27% of total assets, an increase from 16.74% in the previous year[46]. - The company's total liabilities at the end of the reporting period were CNY 4,206,492,190.73, indicating a manageable debt level[172]. Revenue Breakdown - The international engineering contracting business revenue was CNY 935.92 million, down 48.35% year-on-year due to the impact of the COVID-19 pandemic[38]. - The revenue from non-ferrous metal mining and smelting was CNY 1,825.35 million, a decrease of 29.38% year-on-year, influenced by reduced downstream demand[38]. - The equipment manufacturing business revenue increased by 54.21% year-on-year to CNY 158.48 million, despite the strategic exit from the mechanical manufacturing sector[38]. - Trade business revenue fell by 86.74% year-on-year to CNY 210.23 million, as the company focused on core business areas[38]. Investments and Projects - The company is advancing the construction of the Dari lead-zinc mine project and expanding its Southeast Asia lead-zinc base[33]. - The company aims to enhance resource reserves and supply capabilities by focusing on resource-rich areas in Africa, Central Asia, and South America[33]. - The company has ongoing construction projects, including the Indonesia Darai Lead-Zinc Mine project, with an investment of ¥73,769,692.00 during the reporting period, totaling ¥278,420,142.00 to date[51]. - The company is actively pursuing project financing and accelerating project progress for its Dairi Zinc and Lead Mining project, which is currently under construction[60]. Regulatory and Compliance - The company has maintained compliance with commitments made regarding shareholding and asset restructuring, ensuring transparency and fairness in market transactions[70]. - The company has established emergency response plans for environmental incidents at all levels of production enterprises and conducted regular drills[108]. - The company has publicly disclosed environmental pollution prevention information and pollutant emission data accurately and comprehensively in the first half of 2020[108]. Shareholder Information - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 33.75% of the total shares, amounting to 664,613,232 shares[118]. - The total number of common shareholders at the end of the reporting period was 115,419[118]. - The report indicates that there were no changes in the number of shares held by major shareholders during the reporting period[118]. Risks and Challenges - The company faces significant risks due to the ongoing COVID-19 pandemic, which has impacted global economic activities and may affect overseas business operations and overall performance[63]. - The international engineering contracting business is under pressure from a declining global economy, increased competition, and geopolitical uncertainties, which may hinder infrastructure investment[63]. - The resource development sector is experiencing a downturn, particularly in zinc metal prices, with expectations of continued low price fluctuations in the second half of 2020[63]. Research and Development - Research and development expenses increased by 72.32% to ¥5,775,409.45, driven by higher investments from the subsidiary Zhongse Zinc Industry[39]. - The company completed 45 patent applications in the first half of 2020, including 16 invention patents and 29 utility model patents[34]. Environmental Management - The company achieved a 100% operational efficiency rate for all pollution control facilities in the first half of 2020, meeting the emission standards set by GB 13271-2014 and GB 25466-2010[108]. - The total emissions for sulfur dioxide from the main emission points at Zhongse Zinc Industry were 23.79 tons, with a permitted limit of 200 tons per year, indicating compliance with environmental standards[108].

Financial Performance - The company's operating revenue for Q1 2020 was ¥1,358,559,027.42, a decrease of 49.28% compared to ¥2,678,356,811.17 in the same period last year[7]. - Net profit attributable to shareholders was ¥73,528,354.80, representing a 3.79% increase from ¥70,843,221.98 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥25,024,158.84, down 62.17% from ¥66,154,933.87 in the previous year[7]. - The net cash flow from operating activities was -¥381,592,526.42, a decline of 128.62% compared to -¥166,912,401.61 in the same period last year[7]. - The basic earnings per share for the reporting period was ¥0.0373, a 3.61% increase from ¥0.0360 year-on-year[7]. - Operating profit for Q1 2020 was CNY 150,245,738.47, a decrease of 15.2% compared to CNY 177,194,873.29 in Q1 2019[37]. - The total comprehensive income for Q1 2020 was CNY 96,654,508.14, compared to CNY 25,483,370.19 in Q1 2019, an increase of 279.5%[37]. - The company's total comprehensive income for the current period is negative CNY 19.95 million, compared to positive CNY 60.78 million in the previous period[39]. Assets and Liabilities - Total assets at the end of the reporting period were ¥25,078,355,391.32, a decrease of 1.55% from ¥25,473,356,455.04 at the end of the previous year[7]. - Current assets decreased to CNY 13,676,324,921.38 from CNY 14,181,500,145.89, representing a reduction of about 3.55%[29]. - Total liabilities decreased to CNY 16,302,956,442.38 from CNY 16,773,812,773.29, indicating a decrease of around 2.81%[31]. - The company's equity attributable to shareholders increased slightly to CNY 4,889,219,735.98 from CNY 4,856,580,520.23, an increase of about 0.67%[31]. - Total liabilities decreased to CNY 12,328,359,914.81 as of March 31, 2020, down from CNY 12,496,970,200.87 at the end of 2019, a reduction of 1.3%[35]. - Total assets decreased to CNY 14,847,035,726.72 as of March 31, 2020, down from CNY 15,035,591,486.86 at the end of 2019, a reduction of 1.2%[35]. Cash Flow - The total cash flow from operating activities is negative CNY 381.59 million, worsening from negative CNY 166.91 million in the previous period[41]. - Cash inflow from operating activities totaled 458,150,778.33 CNY, down 33.7% from 691,275,116.03 CNY in the prior period[43]. - Cash outflow from operating activities was 639,998,220.35 CNY, a decrease of 48.3% compared to 1,236,341,390.11 CNY last year[43]. - The company reported a cash inflow from financing activities of CNY 3.04 billion, an increase from CNY 1.76 billion in the previous period[41]. - Cash inflow from financing activities was 2,974,826,141.06 CNY, an increase of 71.9% from 1,730,967,690.41 CNY in the last period[43]. Expenses - Operating costs decreased by 50.41% to ¥1,113,660,564.45 from ¥2,245,946,896.65, primarily due to reduced revenue from the parent company and subsidiaries[14]. - Research and development expenses were ¥1,176,827.17, down 42.07% from ¥2,031,412.22, attributed to decreased R&D investment by the subsidiary[14]. - The company reported a decrease in sales expenses to CNY 32,623,684.82 in Q1 2020, down 50.0% from CNY 65,063,520.22 in Q1 2019[37]. - The company incurred financial expenses of CNY 33.08 million, compared to a financial income of CNY 51.44 million in the previous period[39]. Investments and Other Income - The company reported non-operating income of ¥66,969,567.59 mainly from the disposal of non-current assets by its subsidiary[7]. - The company reported a significant increase in other income, which rose by 4,746.94% to ¥3,878,476.58 from ¥80,019.00, primarily due to increased government subsidies[14]. - Investment income decreased by 61.54% to ¥2,939,188.52 from ¥7,642,071.55, mainly due to reduced investment income from joint ventures[14]. - The company’s investment income decreased to CNY 2.43 million from CNY 33.24 million in the previous period[39]. Impairment and Financial Analysis - The company recorded a credit impairment loss of ¥14,877,656.93 during the period[14]. - The financial expenses increased by 177.54% to -¥23,830,007.65 from -¥8,586,275.64, mainly due to increased exchange gains[14]. - The company faced a 52.55% decrease in asset impairment losses, which amounted to ¥11,247,679.35 compared to ¥23,704,323.97 in the previous year[14]. Miscellaneous - The company has not yet audited the first quarter report for 2020, indicating it is unaudited[57]. - The chairman of the board, Qin Junman, approved the report submission date on April 28, 2020[58]. - The company is implementing new revenue and lease standards starting in 2020, with no retrospective adjustments to prior data[57].