Financial Performance - China Nonferrous Metal Construction Co., Ltd. reported a significant loss in 2019, with no detailed analysis provided in the annual report regarding the reasons for the loss[4]. - The company's operating revenue for 2019 was ¥11,077,988,721.23, a decrease of 25.16% compared to ¥14,802,064,398.94 in 2018[20]. - The net profit attributable to shareholders for 2019 was -¥1,059,949,942.82, representing a decline of 985.32% from ¥119,725,590.77 in 2018[20]. - The net cash flow from operating activities was ¥763,712,405.29, down 72.16% from ¥2,742,843,022.50 in the previous year[20]. - The total assets at the end of 2019 were ¥25,473,356,455.04, an increase of 0.79% from ¥25,273,727,481.22 at the end of 2018[20]. - The net assets attributable to shareholders decreased by 7.14% to ¥4,856,580,520.23 from ¥5,229,899,136.34 in 2018[20]. - The company reported a basic earnings per share of -0.5382 for 2019, a significant drop from 0.0608 in 2018[20]. - The weighted average return on equity was -19.72% in 2019, down from 2.31% in 2018[20]. - The company recorded a non-operating income of ¥7,360,475.89 for 2019, compared to ¥57,811,435.02 in 2018[25]. Dividend Policy - The company plans to not distribute cash dividends, issue bonus shares, or increase capital from reserves for the year[5]. - The company did not distribute cash dividends for the fiscal year 2019, nor did it issue bonus shares or increase capital through reserves[151]. - In 2018, the cash dividend amounted to ¥29,540,676.36, representing 24.67% of the net profit attributable to ordinary shareholders[150]. - In 2017, the cash dividend was also ¥29,540,676.36, which accounted for 14.70% of the net profit attributable to ordinary shareholders[150]. Internal Control and Governance - The board of directors has raised concerns about internal control deficiencies and has suggested hiring an external professional agency for targeted internal control audits[4]. - The company has acknowledged the need for a comprehensive analysis of the significant losses experienced in 2019[4]. - The company’s management has confirmed the accuracy and completeness of the financial report[5]. - The company has committed to not transferring funds, profits, or resources through related transactions that could harm the interests of the listed company or its shareholders[158]. - The company has promised to adhere to fair market pricing principles in transactions with related parties and to reduce related transactions over the next five years[158]. Business Operations and Strategy - The company faces multiple risks including international engineering contracting, resource development industry downturns, and ongoing losses in equipment manufacturing[5]. - The company’s future plans include addressing the risks associated with its business operations[5]. - The company has expanded its business scope to include the leasing of self-owned properties and the import and export of various goods and technologies[18]. - The company operates in international engineering contracting and non-ferrous metal mining and smelting, evolving into a comprehensive international non-ferrous metal enterprise over 30 years[33]. - The company plans to enhance its project financing and integrated service capabilities to adapt to the evolving demands of international engineering projects[41]. Market and Economic Conditions - The company faced challenges in 2019 due to global economic adjustments and trade tensions, impacting its international engineering project opportunities[40]. - The macroeconomic environment in 2019 showed a downward trend in the non-ferrous metal industry, with a weak supply-demand balance expected to continue into 2020[129]. - The COVID-19 pandemic has negatively impacted the Chinese economy and global trade, affecting the profitability of the non-ferrous metal industry and international engineering projects[130]. - Zinc metal supply is expected to remain loose due to the resumption of overseas zinc mines and new projects, while demand is projected to decline due to slowing sales in real estate, home appliances, and automotive sectors[132]. Resource Development - The company has a total metal resource of 3.7161 million tons of zinc and 1.6307 million tons of lead as of December 31, 2019[38]. - The company is actively expanding its controllable resources, particularly through the Darui zinc-lead mine project, which is expected to significantly increase zinc-lead output and enhance self-sufficiency[38]. - The company aims to maintain its resource development advantage by exploring new mining areas and increasing resource reserves, particularly in Africa, Central Asia, and South America[135]. Risk Management - The company faces risks related to fixed-price contracts in international projects, which require effective cost control to avoid potential losses[50]. - The company is committed to improving safety management systems and implementing a dual prevention mechanism to mitigate risks associated with mining operations[140]. - Environmental protection policies are becoming stricter, and the company will promote green mining initiatives and improve pollution treatment facilities to meet increasing regulatory standards[140]. Related Party Transactions - The company reported significant related party transactions, including service agreements with Xin Cheng Construction Supervision Co., Ltd. totaling RMB 12.27 million, which accounted for 0.11% of similar transaction amounts[196]. - The total expected amount of related party transactions for 2019 is 57.10 million yuan, with an actual amount of 48.79 million yuan, achieving a completion rate of 85.45%[199]. - The actual amount of related party transactions in 2019 was 48.79 million yuan, which is less than the approved limit[199]. Legal and Compliance Issues - As of December 31, 2019, the company faced 132 ongoing lawsuits and arbitration cases, with a total amount involved of approximately RMB 301.63 million, excluding a specific case with Minsheng Bank involving RMB 64.97 million[190]. - The company was fined RMB 100,000 by the Inner Mongolia Ba Lin Left Banner Environmental Protection Bureau for violating air pollution regulations[191].

Financial Performance - Operating revenue for the period was ¥2,535,140,330.28, representing a decline of 20.39% year-on-year[10]. - Net profit attributable to shareholders was a loss of ¥192,516,012.71, a decrease of 454.61% compared to the same period last year[10]. - Basic earnings per share were reported at -¥0.0977, a decline of 453.99% year-on-year[10]. - The company reported a total profit of ¥135,086,679.67, down 64.6% from ¥380,876,328.29 in the previous period[60]. - Net profit attributable to the parent company is -¥111,679,674.97, compared to a profit of ¥169,697,537.33 in the previous period[60]. - The company recorded an asset impairment loss of ¥131,194,150.78, worsening from a loss of ¥68,254,758.22 in the prior year[53]. - The company’s investment income showed a loss of ¥568,645.04, a significant decline from a profit of ¥4,493,491.14 in the previous year[53]. Cash Flow - The net cash flow from operating activities was not reported, but it decreased by 80.42% year-to-date, totaling ¥616,231,643.99[10]. - The net cash flow from operating activities was 616,231,643.99 CNY, a significant decrease of 80.4% compared to 3,147,447,259.98 CNY in the previous period[68]. - The net cash flow from investing activities was -394,443,076.45 CNY, an improvement from -1,101,423,055.14 CNY in the previous period[68]. - The net cash flow from financing activities was -406,618,669.48 CNY, contrasting with a positive flow of 320,946,855.65 CNY in the prior period[68]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥25,104,775,435.05, a decrease of 0.67% compared to the end of the previous year[10]. - The company’s long-term liabilities due within one year increased by 60.62% to ¥919,181,054.95 due to an increase in long-term borrowings[17]. - As of September 30, 2019, total liabilities amounted to CNY 15,801,944,891.99, a slight decrease from CNY 15,841,402,748.99 as of December 31, 2018, reflecting a reduction of approximately 0.25%[42]. - Total current liabilities totaled CNY 10,791,546,583.81, down from CNY 10,851,417,938.30, indicating a decrease of about 0.55%[42]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 127,288[13]. - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., held 33.75% of the shares, totaling 664,613,232 shares[13]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13]. Government Support - The company received government subsidies amounting to ¥25,003,835.92 during the reporting period[10]. - Other income increased by 276.43% to ¥14,155,779.48 primarily due to an increase in government subsidies received[17]. Inventory and Receivables - Accounts receivable decreased by 51.83% to ¥219,834,625.22 due to a reduction in unsettled notes from subsidiaries[17]. - The company held CNY 4,641,929,151.50 in inventory as of September 30, 2019, an increase from CNY 4,035,353,604.53 at the end of 2018, representing an increase of about 15.03%[38]. - Inventory increased significantly to CNY 2,743,704,259.16 from CNY 1,624,849,978.95, marking an increase of approximately 68.9%[46]. Research and Development - Research and development expenses were ¥1,597,267.34, slightly down from ¥1,656,915.76, showing a focus on maintaining R&D investment[53]. - Research and development expenses remained stable at ¥4,948,736.57, slightly down from ¥4,954,048.10 in the previous period[60]. Trading and Compliance - The company’s stock was suspended from trading on September 30, 2019, due to the uncertainty surrounding the asset acquisition plan[21]. - The company has no reported violations regarding external guarantees during the reporting period[32]. - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[33].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥6,134,692,871.02, a decrease of 18.83% compared to ¥7,557,587,046.62 in the same period last year[20] - The net profit attributable to shareholders of the listed company was ¥80,836,337.74, down 29.96% from ¥115,407,574.10 in the previous year[20] - Basic earnings per share decreased by 30.03% to ¥0.0410 from ¥0.0586 in the previous year[20] - The total comprehensive income for the first half of 2019 was CNY 171,699,349.36, with a net profit of CNY 162,572,638.24[199] - The company reported a total comprehensive income of CNY 245,303,902.00, down from CNY 398,976,041.97 in the previous year[181] - The company reported a revenue of $4,155.83 million from the Congo RTR project during the reporting period[124] - The company reported a net cash flow from operating activities of CNY 787,346,393.25, down 74.5% from CNY 3,083,199,204.26 in the previous year[187] Assets and Liabilities - Total assets at the end of the reporting period were ¥25,229,815,075.70, a slight decrease of 0.17% from ¥25,273,727,481.22 at the end of the previous year[20] - The total liabilities decreased to CNY 15,693,224,329.79 from CNY 15,841,402,748.99, indicating a reduction in financial obligations[171] - The company's total equity increased to CNY 3,995,127,210.76 from CNY 3,852,968,537.76, showing a strengthening of the financial position[180] - The company's cash and cash equivalents increased to CNY 4,223,932,789.71 from CNY 4,081,845,431.86, reflecting improved liquidity[168] Cash Flow - The net cash flow from operating activities dropped by 74.46% to ¥787,346,393.25 from ¥3,083,199,204.26, mainly due to the absence of large project payments received in the previous year[50] - Cash outflow from operating activities totaled 2,359,626,935.53 CNY, a decrease of 25.4% compared to 3,163,093,122.87 CNY in the previous year[190] - Cash inflow from financing activities was 3,254,432,435.17 CNY, down 18.6% from 4,335,076,932.11 CNY in the same period last year[190] Investment and Development - The company plans to continue resource exploration and development both domestically and internationally to enhance resource ownership and supply capacity[38] - The company’s international engineering contracting business is expected to benefit from the ongoing "Belt and Road" initiative, providing more opportunities for major infrastructure projects[30] - The company has ongoing construction projects, including the Indonesia Darai Lead-Zinc Mine project, with an investment of ¥37,076,236.37 during the reporting period[58] Risks and Challenges - The company faces multiple risks including international engineering contracting business risks and cyclical downturns in resource development[7] - The global metal mining market is in a phase of adjustment, with industrial metal demand weak and zinc prices experiencing a rapid decline, creating uncertainty for the company's resource development business[76] - The equipment manufacturing business continues to incur losses, with significant challenges in controlling and reducing these losses despite various measures taken[75] Environmental and Compliance - The company has been fined 100,000 RMB for environmental violations related to dust emissions from tailings[97] - The company has implemented dust suppression measures at the tailings site to address environmental concerns[98] - The company has established emergency response plans for environmental incidents and conducted regular drills[129] Related Party Transactions - The largest related party transaction involved the sale of copper concentrate to Qianbixi Copper Smelting Co., amounting to 1,021,280,615.34 yuan, representing 16.90% of the approved transaction amount[105] - The company engaged in labor services with China Nonferrous Metal Mining Group Co., with a transaction amount of 26,280,487.40 yuan, which accounted for 71.14% of the approved amount[105] Shareholder Information - The total number of shares after the recent changes is 1,969,378,424, maintaining a 100% ownership ratio[140] - The company has 139,076 ordinary shareholders at the end of the reporting period, with the largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holding 33.75%[144] - The company did not engage in any repurchase transactions during the reporting period[148] Research and Development - The company completed 74 patent applications in the first half of 2019, including 31 invention patents and 43 utility model patents[38] - Research and development expenses increased by 4.60% to ¥3,351,469.23 from ¥3,204,202.04, with no significant changes reported[50]

Financial Performance - The company's operating revenue for Q1 2019 was ¥2,678,356,811.17, a decrease of 28.62% compared to ¥3,752,035,085.00 in the same period last year[8]. - The net profit attributable to shareholders of the listed company was ¥70,843,221.98, down 23.20% from ¥92,241,551.41 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥66,154,933.87, a decrease of 24.86% from ¥88,039,235.75 in the same period last year[8]. - The basic earnings per share for the period was ¥0.0360, down 23.08% from ¥0.0468[8]. - Operating profit for Q1 2019 was CNY 177,194,873.29, down 26.9% from CNY 242,338,120.06 in the same period last year[49]. - Comprehensive income for Q1 2019 was CNY 24,964,301.76, a significant drop from CNY 166,290,158.90 in Q1 2018[49]. - The company's net profit for the current period is CNY 60,781,460.90, compared to a net loss of CNY 76,563,775.63 in the previous period, indicating a significant turnaround[52]. - The total profit for the current period is CNY 98,074,373.59, up from CNY 18,301,999.22 in the previous period, reflecting a growth of 436.5%[52]. Cash Flow - The net cash flow from operating activities was significantly negative at -¥166,912,401.61, compared to ¥2,530,298,884.98 in the previous year, a decrease of 106.60%[8]. - The company's cash flow from operating activities shows a net outflow of CNY 166,912,401.61, compared to a net inflow of CNY 2,530,298,884.98 in the previous period[55]. - Cash inflow from operating activities totaled 691,275,116.03 CNY, down from 3,155,604,523.26 CNY, representing a decrease of about 78%[58]. - Cash outflow from operating activities was 1,236,341,390.11 CNY, reduced from 1,757,156,534.97 CNY, showing a decrease of approximately 30%[58]. - The net cash flow from financing activities was 215,182,295.52 CNY, a turnaround from -277,898,669.08 CNY in the previous period[58]. Assets and Liabilities - Total assets at the end of the reporting period were ¥24,960,528,879.65, a decrease of 1.24% from ¥25,273,727,481.22 at the end of the previous year[8]. - The company's current assets totaled CNY 15,131,794,207.56, slightly down from CNY 15,321,988,871.41 at the end of 2018[37]. - The total liabilities as of March 31, 2019, were CNY 15,527,164,341.67, compared to CNY 15,841,402,748.99 at the end of 2018, indicating a reduction in liabilities[40]. - The company's short-term borrowings were CNY 4,254,792,247.85, showing a minor decrease from CNY 4,258,489,935.88[40]. - The total liabilities amounted to 15,841,402,748.99 CNY, consistent across the reporting periods[65]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 124,076[11]. - The net assets attributable to shareholders of the listed company were ¥5,237,221,442.85, an increase of 0.14% from ¥5,229,899,136.34 at the end of the previous year[8]. - The company's equity attributable to shareholders was CNY 5,237,221,442.85, slightly up from CNY 5,229,899,136.34[40]. Expenses - Sales expenses rose by 59.73% as a result of increased sales from the Singapore subsidiary compared to the previous year[19]. - R&D expenses surged by 912.89% due to increased investment in research and development by the subsidiary Shenye Machinery[19]. - The company reported a financial expense of CNY -8,586,275.64, a substantial decrease from CNY 126,386,846.78 in the previous year, suggesting improved financial management[49]. - The financial expenses decreased significantly to CNY -51,443,604.36 from CNY 99,338,174.93, indicating improved cost management[52]. Investment Activities - Investment income increased by 75.47% due to higher investment income recognized from joint ventures compared to the previous year[19]. - The company reported a significant increase in derivative investments, with a total investment amounting to 1,013.78 million yuan, accounting for 0.28% of the company's net assets[27]. - The cash inflow from investment activities was 77,286,739.61 CNY, compared to 38,481,071.29 CNY in the previous period, representing an increase of about 101%[58]. Other Financial Information - The company implemented new financial instrument standards starting January 1, 2019, with no significant impact on financial status or results[73]. - The first quarter report for 2019 was not audited[73]. - The company has not yet implemented new revenue and leasing standards, with adjustments only affecting financial statement presentation[72].

Financial Performance - The company's operating revenue for 2018 was ¥14,802,064,398.94, a decrease of 4.05% compared to ¥15,427,363,380.28 in 2017[23]. - Net profit attributable to shareholders was ¥119,725,590.77, down 40.43% from ¥200,980,863.92 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥61,914,155.75, a decline of 60.27% compared to ¥155,841,009.31 in 2017[23]. - The net cash flow from operating activities increased by 70.11% to ¥2,742,843,022.50 from ¥1,612,418,583.15 in 2017[23]. - Total assets at the end of 2018 were ¥25,273,727,481.22, reflecting a 12.13% increase from ¥22,538,977,643.70 at the end of 2017[23]. - The company reported a basic earnings per share of ¥0.0608, down 40.45% from ¥0.1021 in 2017[23]. - The weighted average return on equity was 2.31%, a decrease of 1.63% from 3.94% in the previous year[23]. - The company achieved a cash dividend payout ratio of 100% of its distributable profits in 2018, with total distributable profits amounting to 814,892,440.42 yuan[147]. Business Operations - The company has expanded its main business scope to include the development of non-ferrous metal resources, primarily focusing on aluminum and zinc[20]. - The company operates in the mining industry, specifically in the non-ferrous metal mining sector, with a focus on zinc and rare earth resources[40]. - As of December 31, 2018, the company holds mining rights for three mines and 16 exploration rights, with total metal resources of 383.52 thousand tons of zinc and 163.2 thousand tons of lead[42]. - The company acquired a 51% stake in the Indonesian Darui lead-zinc mine in September 2018, which is expected to significantly increase its lead-zinc resource reserves[41]. - The average zinc grade at the Darui mine is 10.73%, with total zinc resources estimated at 227.15 thousand tons as of December 31, 2018[43]. - The company's international engineering contracting business accounted for over 30% of its audited revenue in 2018, with a total business volume of 1.12 trillion RMB in China's overseas contracting[44]. - The company aims to enhance its international competitiveness by expanding into emerging markets and diversifying its project portfolio[48]. - The company has accumulated over 30 years of experience in international engineering contracting and over 10 years in non-ferrous resource development, establishing a strong brand presence[49]. Risk Management - The company acknowledges multiple risks in its international engineering contracting business, including cyclical downturns in resource development and ongoing losses in equipment manufacturing[5]. - The company has a comprehensive risk management strategy to address potential environmental and safety production risks[5]. - The company is enhancing its risk management system to cover all business areas and ensure compliance with legal and policy changes[133]. - The company has established a comprehensive risk control mechanism, addressing over 1,500 hazardous sources with implemented control measures[57]. Environmental and Safety Compliance - The company is enhancing its environmental protection measures in response to increasing regulatory pressures, including improving pollution control projects[135]. - The company has been actively conducting environmental hazard inspections and training to mitigate risks associated with its operations[138]. - The company has committed to enhancing environmental protection awareness and compliance with relevant laws and regulations[168]. - The company invested a total of 40.79 million yuan in safety production throughout the year, enhancing its safety management system and training programs[57]. - The company has taken measures to stop discharging tailings and has completed vegetation restoration work on the tailings pond[168]. Challenges and Market Conditions - The company experienced a significant drop in zinc prices, approximately 20%, due to a tightening demand environment in the industrial metal sector[37]. - The macroeconomic outlook indicates continued pressure on non-ferrous metal prices due to domestic economic slowdown and trade conflicts, with a potential demand boost from proactive fiscal policies in 2019[125]. - The zinc market is expected to shift from shortage to surplus in 2019, with unclear demand from downstream industries such as real estate and infrastructure[126]. - The company faces challenges such as increased competition and economic pressures in emerging markets, necessitating a focus on enhancing its resource integration and financing capabilities[48]. Investments and Acquisitions - The company made a significant equity investment of ¥1,363,061,700.00 in PT Dairi Prima Mineral, acquiring a 51% stake[110]. - The company plans to focus on resource development and expand controllable resources in lead and zinc mining, leveraging the "Belt and Road" initiative[74]. - The company is focused on improving safety and environmental protection measures to support high-quality development[134]. Corporate Governance - The company emphasizes the importance of accurate and complete financial reporting, with key executives affirming the integrity of the annual report[4]. - The company operates under the supervision of the State-owned Assets Supervision and Administration Commission and the China Securities Regulatory Commission[11]. - The company has not experienced any changes in its controlling shareholder since its listing[20]. - The company has engaged Da Hua Certified Public Accountants for auditing services during the reporting period[21]. Legal Matters - The company reported a total of 98 ongoing litigation cases, with a total amount involved of approximately RMB 360.05 million[163]. - The company is involved in a lawsuit with a total amount of 10,000,000 CNY related to a letter of credit dispute, with no provision for liabilities formed[164]. - The company has been fined 200,000 CNY for environmental violations related to tailings discharge[167]. - A significant fine of 1,938,690 CNY was imposed on the company for failing to timely transport desulfurization gypsum to an environmentally compliant site[167].

Financial Performance - Total assets at the end of the reporting period reached ¥25,792,495,049.84, an increase of 14.44% compared to the end of the previous year[8] - Net profit attributable to shareholders was ¥54,289,963.23, representing a 30.50% increase year-on-year[8] - Operating revenue for the period was ¥3,184,375,210.35, a decrease of 2.90% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥44,710,591.21, down 44.47% year-on-year[8] - Basic earnings per share were ¥0.0276, an increase of 30.81% compared to the same period last year[8] - The weighted average return on net assets was 1.04%, a decrease of 0.53% compared to the previous year[8] Cash Flow and Assets - Cash flow from operating activities reached ¥3,147,447,259.98, an increase of 131.83% year-to-date[8] - Cash and cash equivalents increased by 94.13% to ¥5,083,741,184.38 due to increased project collections from the parent company and its Kazakhstan subsidiary[17] - Accounts receivable rose by 63.18% to ¥472,931,376.63 primarily due to the subsidiary adopting more bill settlements[17] - Inventory decreased by 31.15% to ¥3,206,025,814.43 as a result of reduced amounts of completed but unsettled assets from construction contracts[17] - Construction in progress surged by 2,114.10% to ¥3,347,360,091.41 due to the acquisition of a subsidiary, China Nonferrous (Indonesia) Dali Mining Co., Ltd.[17] - Goodwill increased by 635.69% to ¥81,844,946.44 as a result of the premium paid for the acquisition of the subsidiary[17] Investment and Financial Management - Financial expenses decreased by 60.72% to ¥160,228,943.34 due to significant foreign exchange gains during the period[19] - Investment income rose by 165.11% to ¥15,376,834.04, attributed to increased earnings from equity method investments[19] - The company completed the acquisition of 51% of PT.DPM, becoming its controlling shareholder[21] - The company reported a derivative investment amount of 52.33 million CNY at the end of the reporting period, with a net loss of 146,600 CNY during the period[28] - The company has not engaged in any securities investment during the reporting period[25] - The company has not reported any trust investment during the reporting period[26] Corporate Governance and Compliance - The company reported a total of 126,080 shareholders at the end of the reporting period[13] - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 33.75% of the shares[13] - There were no violations regarding external guarantees during the reporting period[32] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[33] - The company has committed to fair market pricing principles in transactions with related parties, ensuring no harm to the interests of minority shareholders[24] - The company has established a futures hedging management method to control trading risks effectively[28] - The company has maintained consistent accounting policies for derivatives compared to the previous reporting period[28] Operational Insights - The company faced a final court ruling regarding a financial loan dispute with Ping An Bank, which may impact future financial strategies[21] - The company has conducted multiple communications with individuals to discuss its production and operational status during the reporting period[31] - The company anticipates potential significant changes in net profit compared to the same period last year, but specific figures are not disclosed[25]

Financial Performance - The company's operating revenue for the reporting period was ¥7,557,587,046.62, a decrease of 2.18% compared to ¥7,726,032,960.70 in the same period last year[19]. - The net profit attributable to shareholders was ¥115,407,574.10, down 33.84% from ¥174,431,992.01 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥96,208,554.03, a decline of 42.03% compared to ¥165,951,487.29 in the previous year[19]. - The basic earnings per share decreased to ¥0.0586, down 33.86% from ¥0.0886 in the previous year[19]. - The total operating revenue for the first half of 2018 was CNY 7,557,587,046.62, a decrease of 2.2% compared to CNY 7,726,032,960.70 in the same period last year[138]. - The net profit attributable to the parent company was CNY 115,407,574.10, down 33.9% from CNY 174,431,992.01 in the previous year[138]. - The company reported a significant increase in asset impairment losses, totaling CNY 315,815,776.52, compared to CNY 21,345,663.39 in the prior period[138]. - The company’s total comprehensive income for the period was CNY 398,976,041.97, an increase of 55.5% from CNY 256,608,038.20 in the same period last year[138]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥3,083,199,204.26, an increase of 708.81% from -¥506,429,839.01 in the same period last year[19]. - Operating cash flow increased by 708.81% to CNY 3,083.20 million, mainly due to increased collections from engineering projects[42]. - Cash and cash equivalents increased to ¥5,051,379,754.46, representing 22.49% of total assets, up from 11.62% year-over-year, primarily due to increased project payments from the parent company and its Kazakhstan subsidiary[50]. - The ending balance of cash and cash equivalents increased to ¥2,555,171,370.27 from ¥1,125,762,109.07 in the previous period, marking a growth of approximately 127%[141]. - Cash and cash equivalents at the end of the period increased to CNY 4,687,107,007.28 from CNY 2,015,570,779.19, marking a growth of 132.9%[140]. Assets and Liabilities - The total assets at the end of the reporting period were ¥22,458,312,738.72, a slight decrease of 0.36% from ¥22,538,977,643.70 at the end of the previous year[19]. - Total liabilities decreased from CNY 15,651,473,142.67 to CNY 15,369,105,945.06, a reduction of approximately 1.8%[134]. - Current liabilities decreased from CNY 12,662,528,441.01 to CNY 11,756,126,009.15, a decline of about 7.1%[134]. - Non-current liabilities increased from CNY 2,988,944,701.66 to CNY 3,612,979,935.91, an increase of approximately 20.8%[134]. - The total amount of restricted cash and accounts receivable was ¥1,195,393,963.57, primarily due to bank acceptance bills and pledged accounts receivable[51]. Business Operations and Strategy - The company plans to focus on resource development and engineering contracting for future growth, enhancing procurement and sales capabilities[39]. - The company is committed to enhancing safety measures and environmental protection to reduce operational risks and comply with regulations[65]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[141]. - The company is actively exploring potential mergers and acquisitions to strengthen its market position and diversify its service portfolio[83]. Environmental Compliance - The company has been fined ¥1,938,690 for environmental violations related to the disposal of desulfurization gypsum at its Lin Dong plant[78]. - The company has also been fined ¥200,000 for failing to close a tailings pond in compliance with environmental regulations[78]. - The company has established a hazardous waste storage facility that has been operational since 2005, ensuring safe disposal of hazardous waste generated from zinc smelting[108]. - The company has implemented a two-stage wastewater treatment process involving lime neutralization and membrane filtration[108]. - The company has committed to environmental responsibility by establishing emergency response plans for environmental incidents[110]. Shareholder Information - The total number of shares before the change was 1,969,378,424, with 99.99% being unrestricted shares[116]. - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 33.75% of the shares, totaling 664,613,232 shares[121]. - The company has a total of 34,650 restricted shares remaining after the recent changes among key executives[118]. - The report indicates that there are no changes in the approval or transfer of shares during this period[116]. Legal Matters - The company reported a pending lawsuit involving a claim of 10,000,000 CNY related to a letter of credit dispute[74]. - Another pending lawsuit involves a claim of 9,950,000 CNY regarding financial bad debt guarantee responsibilities[74]. - The total amount involved in ongoing litigation and arbitration cases is approximately ¥151.81 million, with ¥61.65 million initiated by the company and ¥90.16 million against the company[77]. Related Party Transactions - The total amount of related party transactions in the first half of 2018 was approximately 82,536.07 million yuan, with a completion ratio of 47.47% for rental and property services[88]. - The company continues to utilize market pricing principles for all related party transactions to ensure fairness and transparency[84]. - The company has not reported any significant differences between transaction prices and market reference prices[88]. Research and Development - The company completed 59 patent applications in the first half of 2018, including 26 invention patents and 33 utility model patents[33]. - The company is focused on developing new technologies and products to enhance its competitive edge in the market[83].

Financial Performance - The company's operating revenue for the first half of 2018 was ¥7,557,587,046.62, a decrease of 2.18% compared to ¥7,726,032,960.70 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥115,407,574.10, down 33.84% from ¥174,431,992.01 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥96,208,554.03, a decrease of 42.03% compared to ¥165,951,487.29 in the same period last year[18]. - The basic earnings per share were ¥0.0586, down 33.86% from ¥0.0886 in the same period last year[18]. - The total profit for the period was CNY 292,072,840.25, a decrease of 27.6% from CNY 403,199,334.18 in the previous year[135]. - The company's operating costs were CNY 7,304,189,990.44, slightly down from CNY 7,336,918,666.26 in the previous year[135]. - The company reported an increase in asset impairment losses to CNY 315,815,776.52, compared to CNY 21,345,663.39 in the prior period[135]. - The company’s total comprehensive income for the period was CNY 398,976,041.97, up from CNY 256,608,038.20 in the previous year[135]. Cash Flow - The net cash flow from operating activities was ¥3,083,199,204.26, an increase of 708.81% compared to a negative cash flow of ¥506,429,839.01 in the previous year[18]. - Total cash inflow from operating activities reached ¥9,951,145,279.09, up from ¥6,858,361,032.20 in the prior period, indicating a growth of approximately 45.5%[137]. - The company reported a net cash outflow from investing activities of ¥8,171,968.31, a decline from a net inflow of ¥130,549,084.15 in the previous period[137]. - Cash inflow from financing activities was ¥4,450,696,417.29, slightly down from ¥4,721,463,439.04 in the prior period[137]. - The company's cash and cash equivalents at the end of the period totaled ¥4,687,107,007.28, an increase from ¥2,015,570,779.19 at the end of the previous period[137]. Assets and Liabilities - The total assets at the end of the reporting period were ¥22,458,312,738.72, a decrease of 0.36% from ¥22,538,977,643.70 at the end of the previous year[18]. - Total liabilities decreased from ¥15,651,473,142.67 to ¥15,369,105,945.06, a reduction of approximately 1.8%[132]. - Current liabilities decreased from ¥12,662,528,441.01 to ¥11,756,126,009.15, a decline of about 7.1%[132]. - Long-term borrowings increased from ¥1,784,593,720.65 to ¥2,573,163,703.93, an increase of approximately 44.2%[132]. - Total equity increased from ¥6,887,504,501.03 to ¥7,089,206,793.66, reflecting a growth of about 2.9%[132]. Investments and Projects - The company completed 59 patent applications in the first half of 2018, including 26 invention patents and 33 utility model patents[32]. - The company has two mining rights and 17 exploration rights as of June 30, 2018, and is actively developing mineral resources in Russia and Indonesia[32]. - The company signed a contract with Qianbixi Copper Smelting Co., Ltd. for the sale of 240,000 dry tons of copper concentrate, valued at approximately 400 million USD (about 2.6 billion yuan), effective until December 31, 2019[90]. - The company has a contract with Wanxiang Resources Co., Ltd. for the sale of approximately 3,000 tons of zinc ingots, with an estimated total amount of about 78 million yuan[90]. Risk Management - The company faces risks including macroeconomic and market risks, fluctuations in the overseas political and economic environment, safety production risks, and environmental protection policy risks[5]. - The company faces risks from macroeconomic fluctuations, particularly due to US-China trade disputes and domestic economic slowdown, impacting metal prices[62]. - The company is diversifying its operations to mitigate risks associated with reliance on a single business model, expanding into four main sectors: nonferrous metal mining and smelting, international engineering contracting, equipment manufacturing, and trading[64]. Environmental Compliance - The company has a wastewater treatment capacity of 900 tons per day, ensuring compliance with discharge standards for production and domestic wastewater[105]. - The total emissions of sulfur dioxide reached 435.82 tons, while nitrogen oxides emissions were 132.14 tons, both of which are within the regulatory limits[104]. - The company has made significant investments in pollution control technologies, including electrostatic precipitators and wet desulfurization systems[104]. - The company has established an emergency response plan for environmental incidents, with annual drills conducted to ensure preparedness[107]. Shareholder Information - The total number of shares before the change was 1,969,378,424, with 99.99% being unrestricted shares[113]. - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 33.75% of the shares, totaling 664,613,232 shares[117]. - The total number of restricted shares held by executives decreased from 38,150 to 34,650 during the reporting period[115]. - The company does not anticipate any impact on basic and diluted earnings per share or net assets attributable to ordinary shareholders due to the share changes[113]. Legal Matters - The company reported a lawsuit involving a claim of 10,000,000 CNY related to a letter of credit dispute, which is not expected to result in a liability[73]. - The company is involved in a construction contract dispute with a claim of 7,252,160 CNY, awaiting trial[73]. - The total amount involved in ongoing litigation and arbitration cases is approximately ¥151.81 million, with ¥61.65 million initiated by the company and ¥90.16 million against it[76]. Corporate Governance - The company has not declared any cash dividends or stock bonuses for the half-year period[67]. - The semi-annual financial report has not been audited[70]. - The company has not undergone any major litigation or arbitration matters during the reporting period[73]. - The company has fulfilled its commitments in a timely manner[69].

Financial Performance - The company's operating revenue for Q1 2018 was ¥3,752,035,085, representing a 13.85% increase compared to ¥3,295,498,819 in the same period last year[10]. - The net profit attributable to shareholders of the listed company was ¥92,241,551, a slight increase of 1.07% from ¥91,262,498 in the previous year[10]. - The basic earnings per share for the period was ¥0.0468, up 1.08% from ¥0.0463 in the previous year[10]. - The gross profit margin for Q1 2018 was approximately 6.35%, compared to 6.83% in Q1 2017, indicating a slight decline[36]. - The net profit for Q1 2018 was CNY 20,643,465.86, compared to CNY 22,507,650.24 in Q1 2017, reflecting a decrease of 8.2%[37]. - The company reported a total comprehensive income of CNY 8,497,892.73 for Q1 2018, down from CNY 22,788,436.19 in the same period last year, reflecting a decline of 62.7%[37]. Cash Flow - The net cash flow from operating activities reached ¥2,530,298,884, a significant increase of 414.81% compared to a negative cash flow of ¥803,766,874 in the same period last year[10]. - The company reported a significant increase in cash flow from operations, indicating strong performance in project execution and collection[19]. - The cash flow from operating activities generated a net amount of CNY 2,530,298,884.98, a significant improvement from a negative cash flow of CNY -803,766,874.40 in the previous year[38]. - The cash flow from financing activities showed a net outflow of CNY -411,714,190.32, compared to a net inflow of CNY 869,843,158.44 in the same period last year[38]. Assets and Liabilities - Total assets at the end of the reporting period were ¥22,071,688,882.54, a decrease of 2.07% from ¥22,538,977,643.70 at the end of the previous year[10]. - Total liabilities decreased to ¥15,058,790,991.36 from ¥15,651,473,142.67, a reduction of approximately 3.8%[33]. - The company's equity increased to ¥7,012,897,891.18 from ¥6,887,504,501.03, showing an increase of about 1.8%[33]. - Current assets totaled ¥10,689,850,558.59, down 1.6% from ¥10,863,736,508.89 at the start of the year[35]. - The company's total assets decreased to ¥15,431,581,341.52 from ¥15,641,741,144.58 at the beginning of the year, a decline of 1.34%[35]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 133,044[14]. - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., held 33.75% of the shares, amounting to 664,613,232 shares[14]. - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[16]. Operational Efficiency - Cash and cash equivalents increased by 79.50% to CNY 4,700,643,196.92 due to a significant increase in project receivables[19]. - Accounts receivable decreased by 39.80% to CNY 2,999,415,597.48 as a result of recovering previous project settlement payments[19]. - Inventory decreased to ¥4,097,222,494.89 from ¥4,656,732,131.36, reflecting a reduction of approximately 12.0%[32]. - The company experienced a significant increase in sales cash inflow, totaling CNY 5,642,529,205.83, compared to CNY 3,023,545,375.51 in the previous year, marking a 86.7% increase[38]. Financial Management - Financial expenses rose by 51.58% to CNY 126,386,846.78 primarily due to increased exchange losses from currency fluctuations[19]. - The company incurred financial expenses of CNY 99,338,174.93, which increased from CNY 84,931,263.64 in the previous year, indicating a rise of 17.5%[37]. - The company has established a risk management framework for futures hedging, which is expected to mitigate operational risks[25]. - There were no instances of non-compliance regarding external guarantees during the reporting period[27]. - The company reported no non-operational fund occupation by controlling shareholders or related parties during the reporting period[28].

Dividend Distribution - The company plans to distribute a cash dividend of 0.15 RMB per 10 shares to all shareholders based on a total share capital of 1,969,378,424 shares as of December 31, 2017[6]. - The company announced a cash dividend of 0.15 yuan per 10 shares for the 2017 fiscal year, totaling 29,540,676.36 yuan, which represents 100% of the distributable profit[126]. - In 2017, the cash dividend paid amounted to 29,540,676.36 yuan, accounting for 14.70% of the net profit attributable to shareholders of the listed company, which was 200,980,863.92 yuan[125]. - The cash dividend for 2016 was 39,387,568.48 yuan, which was 13.31% of the net profit attributable to shareholders of the listed company[125]. - The company has maintained a consistent cash dividend policy over the past three years, with dividends of 0.5 yuan per 10 shares in 2015[123]. - The company has not made any adjustments to its cash dividend policy during the reporting period[122]. - The company’s profit distribution plan for 2017 was approved at the annual general meeting held on May 12, 2017[121]. - The company has complied with all relevant regulations regarding cash dividend distribution and shareholder rights[122]. Financial Performance - The company's operating revenue for 2017 was ¥15.43 billion, a decrease of 19.29% compared to ¥19.11 billion in 2016[18]. - The net profit attributable to shareholders was ¥200.98 million, down 32.10% from ¥296.01 million in 2016[18]. - The net profit after deducting non-recurring gains and losses was ¥155.84 million, a decline of 40.53% from ¥262.06 million in 2016[18]. - The total assets at the end of 2017 were ¥22.54 billion, a decrease of 5.73% from ¥23.91 billion at the end of 2016[18]. - The weighted average return on equity was 3.94%, down from 6.02% in 2016, reflecting a decrease of 2.08%[18]. - The company reported significant quarterly revenue fluctuations, with Q2 revenue at ¥4.43 billion, the highest for the year[22]. - The company achieved a 100% contract fulfillment rate and a 100% first-time acceptance rate for major engineering projects in 2017[40]. - The company reported a total revenue of 91,044,561.12 million yuan from the purchase of zinc concentrate powder, accounting for 6.07% of similar transactions[145]. Risk Management - The company acknowledges potential risks including macroeconomic and market risks, fluctuations in the overseas political and economic environment, safety production risks, and environmental policy risks[6]. - The company has a comprehensive risk management strategy to address various operational and market challenges[6]. - The company is focusing on risk management by improving investment management and audit supervision to mitigate potential financial risks[112]. - The company emphasizes the importance of safety and stability, implementing measures to address external risks such as political instability and natural disasters[113]. Business Operations - The company has expanded its main business scope to include the development of non-ferrous metal resources, primarily focusing on aluminum and zinc[16]. - The company operates under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council[11]. - The company has established a comprehensive production system for lead and zinc mining and smelting, utilizing advanced technologies[30]. - The company aims to enhance market competitiveness and risk resistance through the integration of upstream and downstream industries[28]. - The company has established 12 overseas representative offices in countries such as Iran, Mongolia, and Kazakhstan for project development[37]. - The company has expanded its international engineering contracting business, focusing on key markets in Central Asia and Southern Africa, including Zambia and Kazakhstan[46]. Environmental Compliance - The company is focused on environmental compliance, ensuring that its operations meet national standards to avoid increased costs due to stricter regulations[116]. - The company reported a total sulfur dioxide emission of 1,141.44 tons and nitrogen oxide emission of 315.68 tons, both of which are within the regulatory limits[170]. - The wastewater treatment facility has a daily processing capacity of 900 tons, ensuring compliance with discharge standards for production and domestic wastewater[171]. - The company has established a hazardous waste storage site that has been operational since January 2005, ensuring safe disposal of hazardous waste generated from zinc smelting[172]. - The company has implemented a two-stage wastewater treatment process, which includes lime neutralization and membrane filtration, to effectively treat wastewater[171]. Research and Development - The company applied for 114 patents in 2017, including 33 invention patents, and participated in the revision of 5 industry standards[48]. - The company is developing an environmentally friendly oil-based mud treatment equipment, which is a first in the domestic market and is included in the key technology innovation projects of Liaoning Province[80]. - R&D investment increased significantly by 402.26% to ¥27,382,276.76 in 2017 from ¥5,451,864.54 in 2016, representing 0.18% of operating revenue[82]. - The company is investing 50 million RMB in research and development for innovative construction technologies over the next year[198]. Shareholder Structure - The total number of shares after the recent changes is 1,969,378,424, with 99.99% being unrestricted shares[180]. - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 33.75% of the shares, totaling 664,613,232[184]. - The second-largest shareholder, Wanxiang Resources Co., Ltd., has a holding of 4.14%, amounting to 81,518,800 shares, with a decrease of 59,081,200 shares during the reporting period[184]. - The total number of shareholders at the end of the reporting period is 138,814, an increase from 133,044 at the end of the previous month[184]. - The company has not engaged in any repurchase transactions during the reporting period, indicating stable shareholder confidence[186]. Management and Governance - The company appointed Wu Xiang as the Chairman and Party Secretary on September 20, 2017, following the resignation of Zhang Keli due to work adjustments[194]. - The company has seen a change in senior management, with several appointments including Jia Zhenhong as Vice Chairman and Feng Limin as a director[194]. - The company’s governance structure has been strengthened with the appointment of independent directors, enhancing oversight and strategic direction[197]. - The company is led by a team with diverse backgrounds, including expertise in finance, engineering, and management, enhancing its operational capabilities[195][196]. Future Outlook - The company has set a future outlook with a revenue target of 1.8 billion RMB for the next fiscal year, reflecting an expected growth of 20%[200]. - The company plans to enhance its digital transformation initiatives, allocating 30 million RMB towards technology upgrades in the upcoming fiscal year[200]. - A strategic acquisition of a local engineering firm is expected to enhance operational capabilities and is projected to contribute an additional 300 million RMB in revenue annually[200].