Group 1: Company Overview and Strategic Positioning - China Nonferrous Metal Construction Co., Ltd. is positioned as an important lead-zinc resource platform within the China Nonferrous Group, focusing on resource development and expanding reserves [1][2]. - The company has developed two main business sectors: international engineering contracting and nonferrous metal mining and smelting, controlling three quality lead-zinc mines and one smelting plant, thus forming a complete industrial chain [2]. Group 2: Market and Business Development - The company is actively seeking to expand its resource development in response to rising prices in the nonferrous metal sector, indicating a strong profit margin potential [2]. - There are no current plans for lithium resources or new energy business, but the company is considering investments in other metal categories and focusing on its core business during market upcycles [2]. Group 3: Impact of COVID-19 and Future Outlook - The pandemic has affected the company's operations, particularly in terms of personnel movement, raw material procurement, and international project progress, but operations have remained stable under pandemic control measures [2]. - Adjustments in domestic pandemic management policies are expected to positively impact the company's production and operations in the current year [2]. Group 4: Technological Advancements and Collaborations - The company is investing in digital management and operation research for smart mining to enhance safety and operational efficiency [3]. - A joint venture with Qinghai State-owned Assets Investment Management Co., Ltd. has been established to participate in local mineral resource development, although no projects have been launched yet [4]. Group 5: Engineering Contracting Business - The company has confidence in its international engineering contracting business, with a strong pipeline of projects in Kazakhstan, Indonesia, Vietnam, and Congo, and is optimistic about future market development as pandemic conditions improve [5].

Group 1: Investor Relations Activities - The company held an investor reception event on September 23, 2021, via the "Investor Relations Interactive Platform" [1] - The event aimed to address investor inquiries regarding corporate governance, development strategy, and project construction [1] Group 2: Business Strategy and Development - The company implements a "Project + Resource" dual-driven development strategy to enhance resource reserves and expand international engineering contracting market share [2] - The company aims to improve development quality for better shareholder returns [2] Group 3: Rare Earth Projects - The company is actively involved in the healthy development of the rare earth industry, with ongoing projects like the New Feng Rare Earth Separation Project [2] - As of now, the New Feng project has completed land acquisition and construction of extraction facilities [2] Group 4: Mining Rights and Resources - As of December 31, 2020, the company holds mining rights for five projects, including the Tumerteyn-Aobao Zinc Mine and the Chifeng Nonferrous Zinc Mine, with total metal resources of 3.6857 million tons of zinc and 1.5787 million tons of lead [3] - The company does not currently hold any rare earth mining rights [4] Group 5: Corporate Governance and Reforms - The company is implementing state-owned enterprise reforms, focusing on governance, personnel, and incentive mechanisms [4] - The company emphasizes maintaining good relationships with shareholders and improving investor communication [3] Group 6: Financial Performance and Market Position - The company reported a sales volume of 96 tons of rare earth oxides in 2020, with revenue derived from previous inventory sales [2] - The company has not been affected by recent energy consumption restrictions [5]

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,678,040,608.29, representing a 17.55% increase compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2022 was ¥160,365,469.55, a significant increase of 655.25% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥93,618,743.04, up 466.85% from the previous year[6]. - The basic earnings per share for Q3 2022 was ¥0.0814, reflecting a 660.75% increase compared to the same period last year[6]. - Total operating revenue for the current period reached ¥5,330,978,951.75, an increase of 9.4% compared to ¥4,874,895,337.15 in the previous period[24]. - Net profit attributable to shareholders of the parent company was ¥417,549,756.60, up 178.0% from ¥149,736,576.41 in the same period last year[24]. - Operating profit increased significantly to ¥808,946,761.11, compared to ¥419,829,341.25 in the previous period, reflecting a growth of 92.7%[24]. - Total comprehensive income for the current period was ¥908,072,443.02, compared to ¥281,782,712.31 in the previous period, indicating a substantial increase[24]. - Earnings per share increased to ¥0.2120, up from ¥0.0760 in the previous period, reflecting strong profitability growth[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥19,124,814,813.78, a 0.69% increase from the end of the previous year[6]. - The equity attributable to shareholders increased by 13.82% to ¥5,172,767,184.89 compared to the end of the previous year[6]. - As of September 30, 2022, the total current assets amounted to CNY 9,383,686,041.51, an increase from CNY 9,122,093,471.97 at the beginning of the year[18]. - Total liabilities as of September 30, 2022, were CNY 10,630,350,766.64, compared to CNY 10,537,013,944.80 at the beginning of the year, indicating a slight increase[21]. - Short-term borrowings surged to CNY 3,112,223,496.50 from CNY 1,300,796,053.08, marking an increase of approximately 139.5%[21]. - The total equity attributable to shareholders of the parent company rose to CNY 5,172,767,184.89 from CNY 4,544,668,867.27, reflecting an increase of about 13.9%[21]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥1,227,024,140.10, which decreased by 53.75% compared to the same period last year[6]. - The net cash flow from operating activities decreased to ¥1,227,024,140.10, down 53.8% from ¥2,653,113,862.93 in the previous period[27]. - The company’s financial expenses improved, showing a net financial income of -¥72,156,933.57, compared to -¥128,778,036.88 in the previous period[24]. Investments and Subsidies - The company reported a 334.02% increase in cash flow from investing activities year-on-year, attributed to the sale of equity interests by a subsidiary[10]. - The company received government subsidies amounting to ¥9,380,118.44 for the year-to-date, which are closely related to its normal business operations[7]. - The company reported a significant increase in investment income to ¥120,055,416.74, compared to ¥24,543,726.75 in the previous period[24]. Other Financial Metrics - The company's cash and cash equivalents decreased to CNY 3,277,217,688.97 from CNY 3,399,331,867.29 at the start of the year, reflecting a decline of approximately 3.6%[18]. - Accounts receivable increased significantly to CNY 1,116,853,348.06, up from CNY 864,145,573.09, representing a growth of about 29.3%[18]. - The company's inventory stood at CNY 1,734,801,343.85, showing a slight decrease from CNY 1,741,985,459.90[18]. - The company's retained earnings increased to CNY 2,198,762,493.66 from CNY 1,781,212,737.06, indicating a growth of about 23.4%[21]. - The company reported a significant increase in contract liabilities to CNY 2,150,100,842.05 from CNY 1,091,416,892.79, representing a growth of approximately 96.9%[21]. - Research and development expenses decreased to ¥6,657,066.51, down 57.8% from ¥15,765,005.69 in the previous period[24]. - Cash and cash equivalents at the end of the period amounted to ¥3,078,509,888.93, slightly up from ¥3,021,435,251.55 in the previous period[27].

Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,678,040,608.29, representing a 17.55% increase compared to the same period last year[7]. - Net profit attributable to shareholders for Q3 2022 reached CNY 160,365,469.55, a significant increase of 655.25% year-on-year[7]. - The net profit after deducting non-recurring gains and losses was CNY 173,164,518.08, up 948.50% from the previous year[7]. - Total operating revenue for the period reached CNY 5,330,978,951.75, an increase of 9.4% compared to CNY 4,874,895,337.15 in the previous period[25]. - Net profit for the period was CNY 637,679,114.56, up 100.8% from CNY 317,285,939.04 in the same period last year[25]. - The company reported a significant increase in investment income, totaling CNY 120,055,416.74, compared to CNY 24,543,726.75 in the previous period, marking a growth of 388.5%[25]. - Operating profit rose to CNY 808,946,761.11, a 92.8% increase from CNY 419,829,341.25 in the prior year[25]. - The company’s total comprehensive income for the period was CNY 908,072,443.02, compared to CNY 281,782,712.31 in the previous period, reflecting a substantial increase[25]. - Basic and diluted earnings per share increased to CNY 0.2120, up from CNY 0.0760 in the same period last year[25]. - The company’s total operating costs were CNY 4,570,975,080.23, an increase of 2.0% from CNY 4,478,897,199.26 in the previous period[25]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 19,124,814,813.78, reflecting a 0.69% increase from the end of the previous year[7]. - As of September 30, 2022, the total current assets amounted to CNY 9,383,686,041.51, an increase from CNY 9,122,093,471.97 at the beginning of the year[19]. - The total liabilities as of September 30, 2022, were CNY 10,630,350,766.64, compared to CNY 10,537,013,944.80 at the beginning of the year[22]. - Short-term borrowings surged to CNY 3,112,223,496.50 from CNY 1,300,796,053.08, reflecting a significant increase of approximately 139.5%[22]. - The total equity attributable to shareholders of the parent company rose to CNY 5,172,767,184.89 from CNY 4,544,668,867.27, marking an increase of about 13.9%[22]. - The company’s retained earnings increased to CNY 2,198,762,493.66 from CNY 1,781,212,737.06, showing a growth of approximately 23.4%[22]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,227,024,140.10, down 53.75% year-on-year[7]. - The company’s cash flow from operating activities generated a net amount of CNY 1,227,024,140.10, down 53.8% from CNY 2,653,113,862.93 in the previous period[28]. - The company experienced a net cash outflow from financing activities of CNY -1,860,919,704.03, compared to CNY -2,402,915,781.92 in the previous period[28]. - The company’s cash and cash equivalents decreased to CNY 3,277,217,688.97 from CNY 3,399,331,867.29[19]. - Cash and cash equivalents at the end of the period were CNY 3,078,509,888.93, slightly down from CNY 3,021,435,251.55 at the end of the previous period[28]. Inventory and Receivables - The company reported a total inventory of CNY 1,734,801,343.85, slightly down from CNY 1,741,985,459.90[19]. - Accounts receivable increased significantly to CNY 1,116,853,348.06 from CNY 864,145,573.09, indicating a growth of approximately 29.3%[19]. Government Subsidies - The company received government subsidies amounting to CNY 9,380,118.44 for the year-to-date, which are closely related to its normal business operations[8]. Borrowings - The company reported a 139.26% increase in short-term borrowings compared to the beginning of the year, primarily due to increased short-term loans[11]. - The company experienced a 334.02% increase in cash flow from investing activities year-on-year, attributed to the sale of equity interests by a subsidiary[11]. Non-current Assets - The total non-current assets were CNY 9,741,128,772.27, a decrease from CNY 9,871,119,438.31 at the beginning of the year[19].

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].