北京大成（昆明）律师事务所 关于 云南铜业股份有限公司 2024 年第三次临时股东大会的 法律意见书 大成 is Dentons' Preferred Law Firm in China 北 京 大 成 (昆 明 )律 师 事 务 所 www.dentons.cn 昆明市西山区万达·昆明双塔-北塔 5 楼 5 Floor of North Tower, Wanda Kunming Twin Towers, Xishan District, Kunming City Tel: 86 871-64326335 北京大成（昆明）律师事务所 关于云南铜业股份有限公司 2024 年第三次临时股东大会 的法律意见书 致：云南铜业股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民共 和国公司法》（以下简称"《公司法》"）和中国证券监督管理委员会《上市公司 股东大会规则（2022 年修订）》（以下简称"《股东大会规则》"）等法律、法 规和其他有关规范性文件的要求，以及《云南铜业股份有限公司章程》（以下简 称"《公司章程》"）、《云南铜业股份有限公司股东大会议事规则》（以下简称 "《议事规则》"） ...

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：2024-20 | --- | --- | --- | |-----------------------|-------------------------------------------------------------|----------------------------------------------------------------------| | 投资者关系活 \n动类别 | 特定对象调研 \n□ 媒体采访 □ \n□ 新闻发布会 \n□ 现场调研 □ | □ 分析师会议 \n业绩说明会 \n □ 路演活动 \n其他 | | 活动参与人员 | | 公司股东：成都嘉瑞投资管理有限公司 傅正清 | | 时间 | 2024 年 9 月 19 日 | 10:30 — 12:00 | | 地点 | 公司 3307 会议室 | | | 形式 | 座谈交流 | | | 上市公司参加 人员姓名 | 证券部负责人、证券事务代表：孙萍 | | | | 一、公司基本情况介绍 | | | | 云南铜业于 | 199 ...

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：2024-19 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访  业绩说明会 | | 投资者关系活 | □新闻发布会 □路演活动 | | 动类别 | □现场调研 | | | □其他 | | 参与单位名称 | 线上参与业绩说明会的投资者 人 167 | | 及人员姓名 | | | 时间 | 2024 年 9 月 6 日 15:00-16:30 | | 地点 | 网络互动平台："约调研—云南铜业投资者关系"小程序 | | | 董事长：孔德颂 总经理：孙成余 | | | 董事会秘书：韩锦根 | | | 财务总监：高洪波 | | | 独立董事：于定明、王勇、杨勇、纳鹏杰 | | 上市公司参加 人员姓名 | 云南铜业营销分公司经理：李嘉 | | | 证券部负责人、证券事务代表：孙萍 | | | 科技与信息化部业务经理：郭大为 | | | 财务资产部业务经理：蔡松燕 | | | 发展建设部业务经理：高运孝 | | | 证券部业务经理：李黎、岳圣文 | | | 1、问：上半年公司主营业务铜 ...

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：2024-18 | --- | --- | --- | |-----------------------|---------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活 \n动类别 | 特定对象调研 \n□ 媒体采访 □ \n□ 新闻发布会 □ \n□ 现场调研 | 分析师会议 \n业绩说明会 \n路演活动 \n 其他（ 2024 年半年度报告解读会系列二） | | 活动参与人员 | 1. | 招商证券刘伟洁、中银基金罗庆、国金基金程子旭、西部利得基金温 震宇、东方基金房建威、华宝基金李孟恒等 26 人。 | | | 2. | 德邦证券高嘉麒、浙商基金平舒宇等 3 人。 | | ...

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：2024-17 | --- | --- | --- | |-----------------------|----------------------------------------------------------------|---------------------------------------------------------------------| | 投资者关系活 \n动类别 | 特定对象调研 \n□ 媒体采访 □ \n□ 新闻发布会 □ \n□ 现场调研 □ | □ 分析师会议 \n业绩说明会 \n路演活动 \n其他 | | 活动参与人员 | 限公司 | 欠发达地区产业发展基金有限公司、中央企业乡村产业投资基金股份有 | | | | | | 时间 | 2024 年 9 月 3 日 | 15:00-17:00 | | 地点 | 公司 3322 会议室、文化展厅 | | | 形式 | 座谈交流、现场参观 | | | 上市公司参加 人员姓名 | 证券部负责人、证券事务代表：孙萍 综合部副主任：李 ...

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 ...