Financial Performance - Net profit attributable to shareholders of the listed company reached ¥206,753,194.46, an increase of 56.41% year-on-year[8]. - Operating revenue for the reporting period was ¥1,580,165,331.58, reflecting a growth of 154.30% compared to the same period last year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥195,928,491.03, up 44.35% year-on-year[8]. - Basic earnings per share for the reporting period were ¥0.1042, representing a 27.38% increase compared to the same period last year[8]. - The weighted average return on net assets was 2.49%, an increase of 0.85% compared to the previous year[8]. - The company reported a total revenue for the reporting period of 13,901.99 million yuan, with a net profit of 4,313.57 million yuan, reflecting a 0.50% increase[110]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥11,016,152,449.17, a decrease of 2.74% compared to the previous year[8]. - The company's total assets in construction increased by 71.47%, reaching CNY 680,512,256.15, compared to CNY 396,870,347.33 at the beginning of the period[17]. - The company's short-term borrowings increased by 83.33% to CNY 55,000,000 from CNY 30,000,000[17]. - The total number of ordinary shareholders at the end of the reporting period was 23,286[11]. Cash Flow - The company reported a net cash flow from operating activities of ¥810,440,281.80, which is a 40.95% increase year-to-date[8]. - The company's cash received from sales of goods and services increased by 140.14% to CNY 4,085,790,571.69 from CNY 1,701,396,169.96[17]. Investments and Financial Management - The total amount of entrusted financial management reached 795,499.44 million CNY, with an unexpired balance of 107,230 million CNY[24]. - The increase in financial income was attributed to the rise in bank financial management recoveries and investment returns[20]. - The company reported a significant increase in bank financial products, with a total of 698,114.54 million CNY in bank financial products[24]. - The company has increased its investments in bank financial products during the reporting period[21]. - The company is actively managing its investment portfolio to optimize returns across different financial products[32][34]. Derivative Investments - The derivative investment in silver amounted to 1,009.94 million CNY, with a reported loss of 274.45 million CNY during the reporting period[108]. - The investment in aluminum through Shanghai Futures Exchange was 359.01 million CNY, resulting in a profit of 203.34 million CNY[108]. - The company reported a total of 2,179.89 million CNY in gold investments, with a profit of 2,026.15 million CNY[108]. - The company is focusing on expanding its investment portfolio in derivatives to mitigate risks and enhance returns[108]. Shareholder Information - The largest shareholder, Wang Shui, holds 15.74% of the shares, with 312,138,102 shares, of which 242,831,756 are pledged[12]. - The company distributed ordinary stock dividends during the reporting period[23]. Risk Management - The company has established a comprehensive risk management system for its derivative investment business, ensuring compliance with national laws and regulations[110]. - The company faced market risks associated with financial derivatives, including liquidity and credit risks, which could impact its hedging effectiveness[110]. - The derivative trading strictly adhered to the company's internal regulations, aimed at stabilizing operations against price fluctuations[110]. Accounting Policies - The company underwent a change in accounting policy, affecting the amortization of mining rights and geological achievements, which was adjusted retrospectively[8]. - The company has not disclosed any significant changes in accounting policies for derivative investments compared to the previous reporting period[110].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 2,095,835,620.98, representing a 158.71% increase compared to CNY 810,100,739.21 in the same period last year[17]. - The net profit attributable to shareholders of the listed company reached CNY 272,680,627.96, up 157.42% from CNY 105,929,377.59 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 260,575,011.41, reflecting a 172.52% increase from CNY 95,617,746.51 in the same period last year[17]. - The basic earnings per share increased to CNY 0.1375, a 109.60% rise compared to CNY 0.0656 in the previous year[17]. - The total operating revenue for the first half of 2018 reached CNY 2,095,835,620.98, a significant increase from CNY 810,100,739.21 in the same period of 2017, representing a growth of approximately 158.5%[147]. - Net profit for the first half of 2018 was CNY 304,203,884.12, compared to CNY 151,795,329.40 in the previous year, reflecting a growth of approximately 100.3%[147]. - The total comprehensive income for the first half of 2018 was CNY 304,633,768.72, up from CNY 152,264,624.02 in the previous year, representing a growth of 100.5%[148]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 10,746,608,586.57, a decrease of 5.12% from CNY 11,325,991,472.36 at the end of the previous year[17]. - The total liabilities as of the end of the reporting period were CNY 1,412,643,701.53, compared to CNY 1,360,664,827.36 at the beginning of the year, showing an increase of about 3.8%[140]. - The company's equity attributable to shareholders reached CNY 8,156,445,761.29, up from CNY 5,030,569,634.07, representing a growth of about 62.5%[140]. - The total current liabilities increased to RMB 55,000,000.00 from RMB 30,000,000.00, reflecting a growth of approximately 83%[138]. - The total owner's equity at the end of the period was approximately 1,983,373,047 RMB[170]. - The total liabilities of the company were reported at 5,101.7 million yuan, indicating a manageable debt level relative to its assets[166]. Cash Flow - The net cash flow from operating activities was CNY 348,478,300.15, showing a decrease of 6.70% compared to CNY 373,517,174.31 in the same period last year[17]. - The cash inflow from investment activities totaled CNY 4,390,061,351.14, significantly higher than CNY 1,760,786,511.07 in the same period last year, marking an increase of 149.5%[155]. - The company reported a total cash outflow from financing activities of 310,202,096.18 yuan, with a net cash flow of -285,202,096.18 yuan, indicating a significant outflow in financing[159]. - The company had a net increase in cash and cash equivalents of 100,412,558.03 yuan, contrasting with a decrease of -59,589,309.98 yuan in the prior period[160]. Investments and Acquisitions - The company completed the acquisition of 89.38% of Shanghai Shengwei, which became a wholly-owned subsidiary, as part of a business expansion strategy[18]. - The company reported a total investment of 77,634 million with a 100% ownership stake in the acquisition of mining assets[63]. - The company completed a significant acquisition, purchasing 89.38% of Shanghai Shengwei, with a transfer price of 403.1 million CNY and an assessed value of 404.503 million CNY[95]. - Shanghai Shengwei achieved a revenue of 73.04451 million CNY and a net profit of 23.50307 million CNY during the reporting period, indicating strong operational performance post-acquisition[96]. Operational Highlights - The company operates four mining enterprises, with the Yulong Mining being a lead-zinc-silver polymetallic mine, while the other three are gold mines, with production expected to resume at Qinghai Dachaidan in the first half of 2019[26]. - The company has increased investments in exploration projects, particularly in Qinghai Dachaidan and Jilin Banmiaozi, to enhance resource reserves and production capacity[31]. - The company’s main products include gold, silver-lead concentrate, and zinc concentrate, primarily sold to trading companies and smelting enterprises[27]. - The company’s trading subsidiary, Yintai Shenghong, provides risk management and trade financing services, enhancing its operational capabilities[26]. Risk Management - The company has established a comprehensive risk management system for its derivative investment business, which helps mitigate operational risks associated with price fluctuations[69]. - The company faces risks related to industry cyclicality, metal price volatility, and safety production, which it aims to address through improved management practices[77][78][79]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,923[122]. - Major shareholder Wang Shui held 242,831,756 shares, representing 15.74% of total shares, with a significant increase of 94,318,157 shares during the period[117]. - The company issued 335,078,964 new shares for asset acquisition on January 26, 2018, and an additional 566,678,013 shares were issued as a capital reserve distribution on June 1, 2018[114]. Compliance and Governance - The half-year financial report has not been audited[87]. - The company has not faced any penalties or rectification situations during the reporting period[91]. - The actual controller and major shareholder, China Yintai, and the actual controller, Mr. Shen Guojun, have a good integrity status[92]. - The company adheres to the accounting standards set by the Ministry of Finance and the relevant disclosure requirements[178].

Financial Performance - The company's operating revenue for 2017 was ¥1,482,617,517.48, representing a 94.61% increase compared to ¥761,851,976.37 in 2016[19]. - The net profit attributable to shareholders for 2017 was ¥325,273,623.60, an increase of 48.09% from ¥219,643,584.57 in 2016[19]. - The net cash flow from operating activities reached ¥920,424,186.74, showing a significant increase of 171.85% compared to ¥338,581,097.29 in 2016[19]. - The basic earnings per share for 2017 was ¥0.3007, up 48.06% from ¥0.2031 in 2016[19]. - Total assets at the end of 2017 amounted to ¥5,410,317,334.30, a 10.52% increase from ¥4,895,217,289.45 at the end of 2016[19]. - The company reported a weighted average return on equity of 8.22% for 2017, up from 5.93% in 2016[19]. - The company reported a total of ¥27,599,653.02 in non-recurring gains for 2017, compared to ¥6,682,387.13 in 2016[25]. - The company achieved a net profit of 170,592,580.07 CNY for 2017, with a retained earnings balance of 422,732,336.06 CNY at year-end[131]. - The cash dividend payout ratio for 2017 was 100% of the distributable profit[131]. Shareholder Information - The company reported a profit distribution plan, proposing a cash dividend of 2.00 CNY per 10 shares based on a total of 1,416,695,034 shares[6]. - The cash dividend represents 87.11% of the net profit attributable to ordinary shareholders, which was 325,273,623.60 CNY for the year[130]. - The total distributable profit for 2017 was 422,732,336.06 CNY, after accounting for a 10% statutory surplus reserve[131]. - The company plans to increase its share capital by 4 shares for every 10 shares held, resulting in a total share capital of 1,983,373,047 shares post-distribution[131]. Business Transformation and Strategy - The company underwent significant business transformation, shifting from hotel and restaurant operations to non-ferrous metal mining since 2013[16]. - The company plans to continue its market expansion and product development in response to improving demand and market conditions[29]. - The company aims to increase its recoverable reserves through enhanced exploration efforts, particularly targeting high-grade ore bodies[34]. - The company is focusing on improving sales strategies through market research and communication with major clients to enhance product sales speed[34]. - The company plans to consolidate the three gold exploration and mining enterprises under Shanghai Shengwei into its financial statements, which is expected to significantly enhance its performance in 2018[76]. Mining Operations and Production - The company produced approximately 150 tons of silver and is one of the largest silver mines in China, with lead and zinc concentrate production also ranking among the top in the country[35]. - The average metal grades for the year were 1.94% lead, 2.83% zinc, and 244 g/t silver, with a silver equivalent grade of 477 g/t, indicating high-quality resources[35]. - As of December 31, 2017, the total verified ore reserves amounted to 32.49 million tons, containing 6,368.616 tons of silver, 712,846 tons of lead, and 920,771 tons of zinc[36]. - The company reported a total mining volume of 782,205 tons in 2017, with metal outputs of 183.542 tons of silver, 1.7035 tons of lead, and 2.1663 tons of zinc[38]. - The company has identified 22 new ore bodies since the 2009 exploration report, adding a total of 959,100 tons of new ore reserves[37]. Risk Management - The company is subject to risks including price fluctuations, industry cyclicality, and safety production issues, which are detailed in the report[6]. - The company has established a comprehensive risk management system for its derivative investments, aimed at mitigating operational risks from price fluctuations[105]. - The company recognizes risks related to industry cycles and metal price fluctuations, implementing measures to mitigate these risks[120][121]. Financial Advisory and Audit - The company’s financial advisor during the reporting period was Anxin Securities Co., Ltd[18]. - The company’s financial report is audited by Zhongxi CPA, with the signing accountants being Xu Yongqiao and Ma Jingyu[17]. Debt and Financing - The company has a low debt ratio of 6.73%, demonstrating strong financing capabilities and good relationships with financial institutions[56]. - The company is actively pursuing various funding channels to support its growth in the resource market[56]. - The company has established a commitment to ensure that any shareholding increases will not affect its control over the company[141]. Compliance and Governance - The company has committed to avoiding related party transactions and ensuring independence in operations, finance, and personnel after the major asset restructuring[135]. - The company will strictly adhere to regulations regarding external guarantees and related party transactions to mitigate risks[135]. - The company has confirmed that its current directors and senior management have not faced any criminal penalties or administrative sanctions related to the securities market in the past three years[137]. Market Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[138]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[138]. Investment and Acquisitions - The company completed a major asset restructuring, acquiring 99.78% of Shanghai Shengwei for CNY 450 million[69]. - The company is engaged in ongoing discussions regarding potential acquisitions and market expansion strategies[145]. - The company plans to acquire a 99.78% stake in Shengwei Mining for a transaction price of RMB 450 million[167]. Wealth Management - The company engaged in entrusted wealth management with a total amount of RMB 5.71927 billion, with an unexpired balance of RMB 1.1363697 billion[175]. - The company has maintained a focus on cash asset management without any overdue amounts[175].