1 证券代码：000878 证券简称：云南铜业 云南铜业股份有限公司投资者关系活动记录表 编号：2024-16 | --- | --- | --- | |-----------------------|---------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The investment rating for Yunnan Copper Industry (000878.SZ) is "Outperform the Market" [5][17]. Core Views - The company reported a year-on-year net profit growth of 4.9% in H1 2024, with total revenue reaching 85.27 billion yuan, an increase of 20.5% [1][6]. - The copper production remained stable, while the smelting business saw profit improvements despite a significant drop in cathode copper production due to the relocation of Southwest Copper [1][6]. - The company is expected to benefit from a high copper price environment and strong cash flow, with potential asset injections from its major shareholder, Chalco [2][6]. Financial Performance Summary - **Revenue and Profit**: In H1 2024, the company achieved revenue of 85.27 billion yuan (+20.5%) and a net profit of 1.06 billion yuan (+4.9%). The net cash flow from operating activities was -3.1 billion yuan, primarily due to inventory increases [1][6]. - **Production Metrics**: The copper concentrate production was 31,700 tons (+1.6% YoY), while cathode copper production was 508,700 tons (-22.8% YoY) due to the relocation of Southwest Copper [1][6]. - **Profit Distribution**: The company proposed a cash dividend of 0.3 yuan per 10 shares, totaling 60 million yuan [1][6]. Future Projections - **Profit Forecast**: The projected net profits for 2024-2026 are 2.09 billion, 2.40 billion, and 3.35 billion yuan, with year-on-year growth rates of 32.5%, 14.8%, and 39.5% respectively [2][15]. - **Earnings Per Share (EPS)**: The diluted EPS for the same period is expected to be 1.04, 1.20, and 1.67 yuan, with corresponding price-to-earnings (PE) ratios of 10.8, 9.4, and 6.7 [2][15]. Key Financial Indicators - **Revenue Growth**: The company’s revenue is projected to grow from 134.92 billion yuan in 2022 to 160.11 billion yuan in 2024, reflecting a compound annual growth rate (CAGR) of approximately 8.9% [3][15]. - **Net Profit Margin**: The net profit margin is expected to improve from 1.3% in 2022 to 2.2% in 2024 [3][15]. - **Return on Equity (ROE)**: The ROE is projected to increase from 11.4% in 2023 to 18.0% in 2026 [3][15].

Financial Performance - The company's revenue for the first half of 2024 was 852.71 billion RMB, showing a significant increase compared to previous years[18]. - The return on equity (ROE) for the first half of 2024 was reported at 7.19%[18]. - The company reported a total profit of 18.41 billion RMB for the year 2022, with a steady growth trend observed in recent years[18]. - The company's operating revenue for the reporting period was ¥85,271,287,914.73, representing a 20.45% increase compared to ¥70,793,840,554.88 in the same period last year[37]. - The net profit attributable to shareholders was ¥1,059,251,192.52, up 4.87% from ¥1,010,018,905.05 year-on-year[37]. - The company achieved a revenue of CNY 85.271 billion in the first half of 2024, representing a year-on-year growth of 20.45%[47]. - The total profit for the same period was CNY 1.841 billion, an increase of 15.48% year-on-year, while the net profit attributable to shareholders was CNY 1.059 billion, up by 4.87%[47]. - The company reported a weighted average return on equity of 7.37%, slightly up by 0.02 percentage points from 7.35% in the previous year[37]. Assets and Liabilities - As of June 2024, the total assets of the company reached 530.81 billion RMB, with a net profit attributable to shareholders of 10.59 billion RMB[18]. - Total assets at the end of the reporting period reached ¥53,081,195,683.50, marking a 34.79% increase from ¥39,380,370,960.71 at the end of the previous year[37]. - The net assets attributable to shareholders were ¥14,423,064,083.81, reflecting a 3.69% increase from ¥13,909,247,295.42[37]. - Cash and cash equivalents increased by 30.46% to ¥8,469,031,462.51, primarily due to an increase in advance payments for products[53]. - Total liabilities increased significantly, with contract liabilities rising by 559.92% to ¥3,371,730,843.61, reflecting increased advance payments[53]. - The company's total liabilities increased to ¥35.35 billion, up from ¥22.22 billion, marking an increase of 59.2%[158]. Investment and Capital Expenditure - The company invested CNY 66 million in exploration activities during the reporting period, with copper resource reserves amounting to 969 million tons and a metal content of 3.6247 million tons as of June 2024[48]. - The company’s total investment during the reporting period was ¥1,868,045,200, representing a 62.25% increase compared to ¥1,151,351,725 in the same period last year[67]. - The significant investment in the Southwest Copper Industry relocation project accounted for a major portion of the increase in investment[67]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[59]. Production and Operations - The Southwest Copper relocation project has achieved 84% overall progress, with the electrolytic production system successfully powered on and entering load testing[17]. - The Southwest Copper project is expected to produce 550,000 tons of cathode copper and 140,000 tons of sulfuric acid annually, enhancing the company's production capacity[16]. - The company aims to optimize its smelting layout and enhance competitiveness through the implementation of advanced copper smelting technology in the Southwest Copper project[16]. - The company utilizes advanced smelting technologies across its operations, enhancing production efficiency and reducing costs[45]. Environmental and Sustainability Efforts - The company adheres to various environmental protection laws and regulations, promoting a green and sustainable development model[84]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[83]. - The company has implemented a "zero discharge" policy for industrial wastewater, with some facilities achieving complete reuse of wastewater[93]. - The company has established a comprehensive pollution prevention system, including air, water, solid waste, and noise management protocols[93]. - The company is focusing on energy-saving processes and high-efficiency equipment to reduce carbon emissions during the relocation of Southwest Copper[103]. Risk Management - The company has outlined potential risks and countermeasures in its management discussion and analysis section of the report[28]. - The company faces risks from industry cycles and metal price fluctuations, particularly with copper concentrate spot TC prices declining significantly, impacting profitability[76]. - The company has established a comprehensive financial derivative management system to control various risks, including market, liquidity, credit, operational, and legal risks[73]. Shareholder and Governance - The company held its 2024 first extraordinary general meeting on January 16, 2024, with an investor participation rate of 33.74%[78]. - The company approved a cash dividend of RMB 0.3 per 10 shares, totaling RMB 60,108,849.30, based on a total share capital of 2,003,628,310 shares[81]. - The company has not reported any discrepancies between financial reports prepared under international accounting standards and those under Chinese accounting standards[36]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[128]. Research and Development - Research and development expenditure for the first half of 2024 was CNY 1.364 billion, with 130 patent applications filed and 69 patents granted[48]. - Research and development expenses rose by 23.42% to ¥182.70 million, indicating a focus on innovation and new product development[57]. Market Trends - The average domestic copper price was 74,531.75 CNY/ton, a 9.8% increase compared to the same period in 2023[41]. - The average domestic gold price in the first half of 2024 was 519.48 CNY/g, reflecting a 19.98% year-on-year increase from 432.98 CNY/g in 2023[42]. - The average domestic silver price for the first half of 2024 was 6,764.61 CNY/kg, which is a 27.76% increase compared to 5,294.58 CNY/kg in 2023[42]. Compliance and Auditing - The semi-annual financial report has not been audited[118]. - The company has no violations regarding external guarantees during the reporting period[117]. - There are no major litigation or arbitration matters during the reporting period[120].

云南铜业股份有限公司（以下简称云南铜业或公司）第 九届董事会第二十七次会议和第九届监事会第十九次会议 于 2024 年 8 月 28 日召开，审议通过《公司 2024 年度中期 利润分配的预案》，该预案尚需提请公司股东大会审议，现 将相关情况公告如下： 一、利润分配预案的基本情况 根据云南铜业 2024 年半年度财务报告（未经审计）， 截至 2024 年 6 月 30 日，合并报表未分配利润为人民币 3,387,751,582.10 元，母公司报表未分配利润为人民币 2,560,572,620.70 元。 以 2024 年 6 月末总股本 2,003,628,310 股为基数，向全 体股东每 10 股派发现金股利 0.3 元（含税），合计分配现金 股利人民币 60,108,849.30 元，不进行资本公积金转增股本。 本次分配预案公告后至实施期间，如公司股本发生变化， 公司拟保持分配总额不变，按照调整每股分配比例的原则进 行相应调整。 证券代码：000878 证券简称：云南铜业 公告编号：2024-045 云南铜业股份有限公司 关于 2024 年度中期利润分配预案的公告 本公司及董事会全体成员保证信息披露的内 ...

风险持续评估审核报告 | 索引 | 页码 | | --- | --- | | 审核报告 | 1-2 | | 财务公司风险持续评估说明 | 1-10 | 关于中铝财务有限责任公司 中铝财务有限责任公司 风险持续评估审核报告 XYZH/2024BJAA16B0446 中铝财务有限责任公司 云南铜业股份有限公司全体股东： 我们接受委托，审核了中铝财务有限责任公司（以下简称"中铝财务公司"）管理当 局对中铝财务公司 2024 年 6 月 30 日与其经营资质、业务和风险状况相关的风险持续评 估说明。中铝财务公司管理层的责任是建立健全并合理设计风险管理体系并保持其有效 性，保证风险管理政策与程序的真实性和完整性，同时按照中国银行保险监督管理委员 会颁布的《企业集团财务公司管理办法》相关规定对截至 2024 年 6 月 30 日与财务报表 相关的风险管理体系有效性做出认定。我们的责任是对中铝财务公司与其经营资质、业 务和风险状况相关的各项内部控制制度建立情况，以及对中铝财务公司经营情况、监管 指标发表审核意见。 我们按照《中国注册会计师其他鉴证业务准则第 3101 号——历史财务信息审计或 审阅以外的鉴证业务》的规定执行 ...

| 2024年1-6月非经营性资金占用及其他关联资金往来情况汇总表 | | --- | | 编制单位;云南铜业股份有限公司 | | | | | | | | | | 早1):人员们人工 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 其他关联资金往来 | 资金往来方名称 | 往来方与上市公司的关联关系 | 上市公司核算 的会计科目 | 2024年期初往 来贷金余额 | 2024年1-6月往来累 计发生金额(不含利 | 2023年1-6月往 来资金的利息 | 2024年1-6月偿 还累计发生金 | 2024年6月末往 来资金余额 | 往来形成原因 | 在来性质 | | | | | | | 鳥) | | | | | | | 控股股东、实际控制人及其 | | | | | | | | | | | | 附属企业 | | | | | | | | | | | | | 原山矿业股份有限公司 | 重大影响/受同一控制人控制 | 应收账款 | 4,330.10 | 808,090.44 | | 791,502.69 | 20,917.8 ...

2024年第三次临时股东大会 会议资料 公司登记在册的所有股东或其代理人，均有权出席股东大会。股 东应当持身份证或其他能够表明其身份的有效证件或证明出席股东 大会。代理人还应当提交股东授权委托书和本人有效身份证件。 二、会议签到 三、主持人宣布会议开始 （一）介绍参加会议的公司股东和股东代表及所代表的股份总数， 介绍参加会议的公司董事、监事、高管人员等。 （二）介绍会议议题、表决方式。 （三）推选表决结果统计的计票人、监票人。 云南铜业股份有限公司 会议议程 一、参会股东资格审查 四、宣读并审议以下议案 序号 议案名称 【非累积投票议案】 1.00 提案1《云南铜业股份有限公司2024年度中期利润分配议案》 （六）出席会议的董事、监事和董事会秘书在会议记录和决议 上签字。 （七）见证律师对本次股东大会发表见证意见。 六、主持人宣布会议结束 五、投票表决等事宜 （一）本次会议表决方法按照公司章程规定，与会股东及股东代 表对议案进行表决。 （二）现场表决情况汇总并宣布表决结果。 （三）将现场表决结果上传至深圳证券交易所股东大会网络投 票系统。 （四）统计现场投票和网络投票的合并表决结果。 （五）宣读股东大会决议。 ...

云南铜业股份有限公司监事会 根据《上市公司监管指引第 3 号——上市公司现金分红》 《深圳证券交易所上市公司自律监管指引第 1 号——主板上 市公司规范运作》等行政法规、规范性文件以及云南铜业股 份有限公司（以下简称公司）《章程》《监事会议事规则》，公 司监事会结合公司的财务状况、发展阶段和投资者回报，对 公司 2024 年度中期利润分配预案发表如下意见： 公司 2024 年度中期利润分配预案的制定符合《公司法》 《上市公司监管指引第 3 号——上市公司现金分红》《公司 章程》《监事会议事规则》等有关规定，决策程序合法，符合 公司发展需要，充分考虑了全体股东的利益，不存在损害公 司及股东利益的情形。 云南铜业股份有限公司 第九届监事会关于公司2024年度中期 利润分配预案的意见 2024 年 8 月 30 日 ...

云南铜业股份有限公司 董事会战略与可持续发展（ESG）委员会 工作细则 第一章 总 则 第一条 为适应公司战略发展需要，增强公司核心竞争 力，确定公司发展规划，健全投资决策程序，加强决策科学 性，提高重大投资的决策效益和决策质量，完善公司治理结 构，提升公司环境、社会及治理（ ESG）绩效，根据《中华 人民共和国公司法》《上市公司治理准则》《云南铜业股份 有限公司章程》及有关规定，公司设立董事会战略与可持续 发展（ESG）委员会，并制定本细则。 第二条 董事会战略与可持续发展（ESG）委员会是董事 会按照股东大会决议设立的专门工作机构，主要负责对公司 长期发展战略和重大投资决策、可持续发展和 ESG 工作进行 研究并提出建议。 第二章 人员组成 第三条 战略与可持续发展（ESG）委员会成员由 5 名董 事组成，其中应至少包括一名独立董事。 第四条 战略与可持续发展（ESG）委员会委员由董事长、 二分之一以上独立董事或者全体董事的三分之一提名，并由 1 董事会选举产生。 第五条 战略与可持续发展（ESG）委员会设主任委员（召 集人）1 名，由公司董事长担任。 第六条 战略与可持续发展（ESG）委员会任期与董事会 ...

证券代码：000878 证券简称：云南铜业 公告编号：2024- 041 云南铜业股份有限公司 关于向子公司提供财务资助暨 关联交易的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、财务资助事项概述 云南铜业股份有限公司（以下简称公司）于 2024 年 3 月 27 日召开第九届董事会第二十三次会议、第九届监事会第十 六次会议，于 2024 年 4 月 18 日召开 2023 年年度股东大会， 审议通过了《关于向子公司提供财务资助暨关联交易的议 案》，同意子公司中铜国际贸易集团有限公司（以下简称中 铜国贸）为公司另一子公司云铜香港有限公司（以下简称云 铜香港）提供 10 亿元人民币或者等值美元的内部借款。具体 内容详见公司于 2024 年 3 月 29 日、2024 年 4 月 19 日在指 定披露媒体及巨潮资讯网（http://www.cninfo.com.cn）披露的 《云南铜业股份有限公司关于向子公司提供财务资助暨关 联交易的公告》（公告编号：2024-012）及《2023 年年度股 东大会决议公告》（公告编号：2024-018）。 三、财 ...