银泰黄金股份有限公司2022年年度报告全文 银泰黄金股份有限公司 2022 年年度报告 ...

[Main Financial Data](index=2&type=section&id=Item%20I.%20Main%20Financial%20Data) This section provides an overview of the company's key financial performance and position for the first three quarters of 2022 [Key Accounting Data and Financial Indicators](index=2&type=section&id=(I)%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first three quarters of 2022, the company reported stable revenue growth and strong operating cash flow, despite a decline in net profit attributable to shareholders Key Financial Indicators for the First Three Quarters of 2022 | Indicator | Year-to-Date | Y-o-Y Change | | :--- | :--- | :--- | | Operating Revenue | CNY 6.43 billion | +9.92% | | Net Profit Attributable to Shareholders | CNY 930.07 million | -10.39% | | Net Profit Attributable to Shareholders (Excl. Non-Recurring Items) | CNY 898.32 million | -8.66% | | Net Cash Flow from Operating Activities | CNY 1.86 billion | +16.08% | | Basic Earnings Per Share | CNY 0.3350/share | -10.38% | | Weighted Average Return on Net Assets | 8.74% | -1.61 percentage points | | Total Assets (Period-End) | CNY 16.48 billion | +3.43% (vs. Prior Year-End) | | Shareholders' Equity Attributable to Parent (Period-End) | CNY 10.74 billion | +2.62% (vs. Prior Year-End) | [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=(II)%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) In the first three quarters of 2022, the company's non-recurring gains and losses totaled CNY 31.74 million, positively impacting net profit, primarily from entrusted investment income (bank wealth management) and fair value changes of financial instruments Non-Recurring Gains and Losses Items for the First Three Quarters of 2022 | Item | Amount Year-to-Date (CNY) | Notes | | :--- | :--- | :--- | | Gains/Losses from Entrusted Investments | 32,494,988.23 | Bank Wealth Management | | Fair Value Changes of Trading Financial Instruments, etc. | 5,492,082.26 | - | | Government Grants | 3,433,448.93 | - | | Other Non-Operating Income/Expenses | 2,546,402.39 | - | | Gains/Losses on Disposal of Non-Current Assets | -857,986.73 | - | | **Total** | **31,740,086.37** | **--** | [Changes and Reasons for Key Accounting Data and Financial Indicators](index=3&type=section&id=(III)%20Changes%20and%20Reasons%20for%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, several financial indicators experienced significant year-on-year changes, including a substantial decrease in financial expenses due to unrealized exchange gains, a sharp decline in fair value change income from forward foreign exchange contracts, and a significant increase in cash paid for debt repayment - Multiple financial indicators fluctuated significantly during the reporting period due to exchange rate volatility, derivative fair value changes, and investment and financing activities[6](index=6&type=chunk) Major Changes in Items and Reasons | Item | Change Percentage | Primary Reason | | :--- | :--- | :--- | | Financial Expenses | -288% | Changes in unrealized exchange gains/losses from subsidiary Yintai Shenghong's USD deposits | | Fair Value Change Income | -1,260% | Fluctuations in the fair value of subsidiary Yintai Shenghong's unexpired forward foreign exchange contracts | | Cash Paid for Debt Repayment | +142.76% | Higher short-term debt repayment in the current period compared to the prior period | | Cash and Cash Equivalents | +94% | Not explicitly stated in the table; comprehensive cash flow statement analysis indicates primarily from net operating cash inflow | [Shareholder Information](index=4&type=section&id=Item%20II.%20Shareholder%20Information) This section details the company's shareholder structure and significant holdings as of the reporting period [Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings](index=4&type=section&id=(I)%20Total%20Number%20of%20Common%20Shareholders%2C%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%2C%20and%20Top%20Ten%20Shareholders'%20Holdings) As of September 30, 2022, the company had 28,810 common shareholders, with a relatively concentrated equity structure where the top four shareholders collectively held over 30% of shares, and the actual controller, Mr. Shen Guojun, controlled 20.93% of shares through direct and indirect holdings - As of the end of the reporting period, the company had **28,810** common shareholders[8](index=8&type=chunk) Top Five Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Nature of Shares | | :--- | :--- | :--- | | China Yintai Investment Co., Ltd. | 14.44% | Domestic Non-State-Owned Legal Person | | Wang Shui | 13.90% | Domestic Natural Person | | Shen Guojun | 6.49% | Domestic Natural Person | | Cheng Shaoliang | 5.38% | Domestic Natural Person | | China Asset Management Energy Innovation Stock Fund | 2.48% | Other | - The company's actual controller, Shen Guojun, and controlling shareholder, China Yintai Investment Co., Ltd., are parties acting in concert, jointly controlling **20.93%** of the company's shares[9](index=9&type=chunk) [Other Significant Matters](index=5&type=section&id=Item%20III.%20Other%20Significant%20Matters) This section confirms the absence of other material events requiring disclosure during the reporting period [Other Significant Matters](index=5&type=section&id=Item%20III.%20Other%20Significant%20Matters) During the reporting period, the company had no other significant matters requiring disclosure - According to the report, the company had no other significant matters to disclose during this reporting period[10](index=10&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=Item%20IV.%20Quarterly%20Financial%20Statements) This section presents the company's consolidated financial statements for the third quarter of 2022, including the balance sheet, income statement, and cash flow statement [Consolidated Balance Sheet](index=5&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of September 30, 2022, the company's total assets reached CNY 16.48 billion, a 3.43% increase from the beginning of the year, with total liabilities at CNY 3.93 billion and a healthy asset-liability ratio of 23.84%, while equity attributable to the parent company grew by 2.62% to CNY 10.74 billion Key Balance Sheet Items (September 30, 2022) | Item | Amount (CNY) | | :--- | :--- | | **Total Assets** | **16,479,529,802.27** | | Total Current Assets | 5,811,204,379.63 | | Total Non-Current Assets | 10,668,325,422.64 | | **Total Liabilities** | **3,929,029,576.50** | | Total Current Liabilities | 3,396,477,529.28 | | Total Non-Current Liabilities | 532,552,047.22 | | **Total Owners' Equity** | **12,550,500,225.77** | | Total Owners' Equity Attributable to Parent Company | 10,740,579,661.45 | [Consolidated Income Statement (Year-to-Date)](index=7&type=section&id=2.%20Consolidated%20Income%20Statement%20(Year-to-Date)) In the first three quarters of 2022, the company's operating revenue grew by 9.92% to CNY 6.43 billion, but a 14.05% increase in total operating costs and expanded fair value losses led to a 12.14% decline in operating profit to CNY 1.32 billion, with net profit attributable to parent company shareholders decreasing by 10.39% to CNY 930.07 million Key Income Statement Items (First Three Quarters of 2022) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 6,432,414,497.93 | 5,851,727,344.96 | | Total Operating Costs | 5,051,465,553.69 | 4,429,106,711.29 | | Operating Profit | 1,319,600,587.40 | 1,501,876,266.43 | | Total Profit | 1,315,848,300.23 | 1,495,405,765.36 | | Net Profit | 1,021,926,137.26 | 1,153,305,708.83 | | Net Profit Attributable to Parent Company Shareholders | 930,065,070.48 | 1,037,941,076.26 | [Consolidated Cash Flow Statement (Year-to-Date)](index=9&type=section&id=3.%20Consolidated%20Cash%20Flow%20Statement%20(Year-to-Date)) In the first three quarters of 2022, net cash flow from operating activities increased by 16.08% to CNY 1.86 billion, indicating strong core business cash generation, while investing activities resulted in a net outflow of CNY 612.75 million for asset purchases and wealth management, and financing activities had a net outflow of CNY 974.48 million primarily for debt repayment and dividend distribution, leading to a net increase of CNY 281.40 million in cash and cash equivalents Key Cash Flow Statement Items (First Three Quarters of 2022) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,859,629,556.54 | 1,601,987,584.81 | | Net Cash Flow from Investing Activities | -612,750,102.03 | -1,164,211,106.81 | | Net Cash Flow from Financing Activities | -974,481,569.06 | 64,732,601.09 | | Net Increase in Cash and Cash Equivalents | 281,396,583.76 | 503,976,049.63 | [Audit Report](index=10&type=section&id=(II)%20Audit%20Report) The company's third-quarter 2022 financial report is unaudited, in compliance with quarterly reporting requirements - The company's third-quarter report is unaudited[18](index=18&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,994,049,471.19, representing a 14.53% increase compared to CNY 3,487,463,751.98 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was CNY 565,841,645.92, a decrease of 15.03% from CNY 665,931,292.61 in the previous year[12]. - The net cash flow from operating activities increased by 56.59% to CNY 1,210,132,146.96, compared to CNY 772,780,881.52 in the same period last year[12]. - The total assets at the end of the reporting period were CNY 16,342,813,652.51, reflecting a 2.57% increase from CNY 15,933,256,367.34 at the end of the previous year[12]. - The basic earnings per share for the first half of 2022 was CNY 0.2038, down 15.01% from CNY 0.2398 in the same period last year[12]. - The operating profit was CNY 79,691,310.00, a decrease of 17.81% compared to the previous year[26]. - The total comprehensive income for the first half of 2022 was CNY 651,587,741.01, a decrease of 12.99% compared to CNY 748,853,031.53 in the same period of 2021[86]. - The net profit for the first half of 2022 was CNY 272,563,033.39, an increase of 25.19% from CNY 217,728,569.59 in the first half of 2021[88]. Assets and Liabilities - The total resource reserves amounted to 10,194.17 million tons, including 170.452 tons of gold and 7,154.06 tons of silver[24]. - The company has a debt-to-asset ratio of 25.60%, indicating strong financing capabilities and good relationships with financial institutions[22]. - Cash and cash equivalents at the end of the reporting period reached CNY 2,688,408,335.98, representing 16.45% of total assets, an increase of 7.31% from the previous year[32]. - The company's inventory decreased to CNY 888,215,007.75, accounting for 5.43% of total assets, down by 1.02% year-on-year[32]. - The total liabilities of the company reached CNY 4.18 billion, compared to CNY 3.59 billion at the beginning of the year, reflecting an increase of about 16.5%[82]. - The equity attributable to shareholders of the parent company decreased to CNY 10.37 billion from CNY 10.47 billion, a decline of approximately 0.9%[82]. Operational Highlights - The company operates five mining enterprises, focusing on precious and non-ferrous metal mining and trading, with a total of 5 active mines and one acquired mine awaiting restoration[17]. - The company aims to enhance resource control and reduce costs to improve gross margins through increased mining production and exploration[21]. - The company plans to expand resource reserves through increased exploration investment and accelerate the conversion of exploration rights to mining rights[21]. - The company plans to expand mining capacity and explore new mining areas to enhance resource sustainability[24]. - The company has retained a skilled workforce with extensive experience in geological exploration and development, enhancing its operational capabilities[23]. Market and Trading - The average selling price of Au9999 gold on the Shanghai Gold Exchange increased by 5.01% year-to-date, closing at 391.70 RMB per gram at the end of June 2022[19]. - The company's gold production ranked fifth among Chinese gold-listed companies, with a high gross margin compared to peers[19]. - The company reported a 14.36% year-on-year increase in domestic raw gold production, totaling 174.687 tons in the first half of 2022[19]. - The revenue from metal product trading increased by 36.60% to CNY 2,195,724,486.42[28]. - The gross profit margin for the metal commodity trading segment was 0.41%, with a significant increase in operating revenue by 36.60% year-on-year[30]. Risk Management - The company faces risks related to metal price fluctuations, safety, environmental protection, and resource management[2]. - The company has established a comprehensive risk management system for its derivative investments[39]. - The company is exposed to metal price volatility risks, with key products including gold, silver, lead, and zinc, which significantly impact performance[43]. - The company has implemented pollution control measures, with various subsidiaries adhering to environmental standards and regulations[51]. Environmental and Social Responsibility - The company has established safety and environmental management systems, with three out of five mines recognized as national green mines, promoting sustainable practices[45]. - The company is classified as a key pollutant discharge unit, with specific emissions monitored and reported[49]. - The company has committed to fulfilling social responsibilities, including poverty alleviation and environmental protection initiatives[54]. - The company has replaced coal-fired boilers with biomass pellet burners to reduce carbon emissions during the reporting period[54]. Shareholder Information - The total number of shares outstanding is 2,776,722,265, with no new shares issued during the reporting period[67]. - The actual controller of the company, Shen Guojun, holds 92.5% of the controlling shareholder China Yintai, collectively controlling 20.93% of Yintai Gold's shares[70]. - The company has not engaged in any share repurchase activities during the reporting period[67]. - The total number of ordinary shareholders at the end of the reporting period was 44,345[73]. Financial Instruments and Investments - The company classifies financial assets into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[132]. - The company recognizes interest income for financial assets measured at fair value with changes recognized in other comprehensive income using the effective interest method, while impairment losses and exchange differences are recognized in profit or loss[133]. - The company assesses the extent of risks and rewards retained when transferring financial assets, determining whether to derecognize them based on control retained[140]. - The company recognizes impairment losses for financial assets measured at amortized cost and those classified as fair value through other comprehensive income, based on expected credit losses[142]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements reflect the true financial condition and operating results[114]. - The company recognizes assets and liabilities acquired in business combinations at the carrying amount in the consolidated financial statements of the ultimate controlling party on the merger date[117]. - The company employs a perpetual inventory system for inventory management[155]. - The company uses the straight-line method for depreciation of fixed assets, with varying useful lives and depreciation rates depending on asset categories[172].

Financial Performance - The company's operating revenue for Q3 2021 was ¥2,364,263,592.98, a decrease of 10.52% compared to the same period last year[3] - Net profit attributable to shareholders was ¥372,009,783.65, an increase of 7.60% year-on-year[3] - The basic earnings per share for the period was ¥0.1340, reflecting a growth of 7.63% compared to the previous year[3] - Total operating revenue for Q3 2021 was CNY 5,851,727,344.96, a decrease of 9.2% compared to CNY 6,444,566,937.15 in the same period last year[19] - Net profit for Q3 2021 was CNY 1,153,305,708.83, up 10.4% from CNY 1,045,182,982.42 in Q3 2020[20] - Earnings per share increased to CNY 0.3738 from CNY 0.3442, representing a growth of 8.3%[21] Assets and Liabilities - Total assets at the end of the reporting period reached ¥15,459,597,248.57, representing a 19.78% increase from the end of the previous year[3] - Total assets reached CNY 15,459,597,248.57, compared to CNY 12,906,755,769.84 in the previous year, marking an increase of 19.7%[17] - Total liabilities increased to CNY 3,368,590,018.21 from CNY 1,840,453,217.75, a rise of 83.1%[17] - The company's equity attributable to shareholders rose to CNY 10,235,589,929.16, up from CNY 9,890,033,887.00, indicating a growth of 3.5%[17] Cash Flow - Cash flow from operating activities for the year-to-date was ¥1,601,987,584.81, down 12.58% compared to the previous year[3] - The cash flow from operating activities showed a significant improvement, contributing positively to the overall financial health of the company[22] - The net cash flow from operating activities for the current period is CNY 1,601,987,584.81, a decrease of 12.6% compared to CNY 1,832,424,934.97 in the previous period[24] - Total cash inflow from investment activities increased significantly to CNY 9,319,114,480.70, up from CNY 5,814,890,659.51, marking a growth of 60.5%[25] - The net cash flow from financing activities showed a positive change, with a net inflow of CNY 64,732,601.09 compared to a net outflow of CNY 382,281,886.52 in the previous period[25] Investments and Income - Investment income for the period was ¥84,709,721.18, an increase of 46.48% year-on-year[8] - Investment income increased primarily due to gains from wealth management product investments[1] - The company received cash from investment activities amounting to ¥8,585,842,959.27, a 49.73% increase compared to the previous year[8] Borrowings and Financing - Short-term borrowings surged to ¥680,227,785.24, marking a 279.60% increase compared to the previous period[8] - The increase in short-term borrowings was due to new bank loans obtained during the period[1] - The cash flow from financing activities totaled CNY 1,835,773,795.11, which is a significant increase compared to CNY 703,662,527.30 in the previous period[25] Current Assets - Total current assets increased to CNY 4,398,367,679.85 as of September 30, 2021, compared to CNY 3,933,955,187.04 at the end of 2020, reflecting a growth of approximately 11.8%[15] - Cash and cash equivalents rose significantly to CNY 1,051,549,206.84 from CNY 482,679,148.39, marking an increase of about 118.5%[15] - Trading financial assets increased to CNY 2,116,773,177.67, up from CNY 1,535,264,849.67, representing a growth of approximately 37.8%[15] - Other current assets decreased to CNY 20,183,610.88 from CNY 693,121,505.30, indicating a reduction of about 97.1%[15] Strategic Plans - The company has not reported any new product developments or market expansion strategies in this quarter[3] - The company plans to expand its market presence and enhance product offerings through strategic investments and acquisitions[1] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22] Research and Development - Research and development expenses were reported at CNY 175,273,490.73, an increase from CNY 161,115,443.34, reflecting the company's commitment to innovation[20] Shareholder Information - The top ten shareholders collectively control 20.93% of the company, with significant stakes held by China Yintai Investment Co., Ltd. and individual shareholders[12] Audit and Reporting - The company did not undergo an audit for the third quarter report[30] - The report was presented by Chairman Yang Haifei on October 29, 2021[31] - The company adopted new leasing standards starting in 2021, with no retrospective adjustments made to prior comparative data[30]