云南罗平锌电股份有限公司 2018 年第一季度报告正文 证券代码：002114 证券简称：罗平锌电 公告编号：2018-37 云南罗平锌电股份有限公司 2018 年第一季度报告正文 1 云南罗平锌电股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨建兴、主管会计工作负责人周新标及会计机构负责人(会计主 管人员)张金美声明：保证季度报告中财务报表的真实、准确、完整。 2 云南罗平锌电股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 307,312,068.44 | 239,005,917.13 | 28.58% | | 归属于上市公司股东的净利润（元） ...

Financial Performance - The company's operating revenue for 2017 was CNY 1,618,758,049.50, representing a 61.27% increase compared to CNY 1,003,725,509.22 in 2016[18]. - The net profit attributable to shareholders for 2017 was CNY 55,289,658.19, a decrease of 33.32% from CNY 82,913,501.81 in 2016[18]. - Basic earnings per share for 2017 were CNY 0.17, down 45.16% from CNY 0.31 in 2016[18]. - Total revenue for the fourth quarter was CNY 505,356,670.42, with a total annual revenue of CNY 1,618,757,049.50[22]. - The company reported a total of CNY 15,674,228.58 in non-recurring gains for the year, reflecting various government subsidies and other income[24]. - The company's operating costs rose by 75.11% year-on-year to CNY 1,388.98 million, primarily due to extended production stoppages at self-owned mines and a 19.64% decrease in self-produced zinc concentrate to 23,018 tons[40]. - The company reported a significant increase in revenue from other categories, such as sulfur (66.52%) and other products (982.68%) compared to the previous year[45]. - Revenue from zinc ingots accounted for 91.57% of total revenue, amounting to CNY 1,482,301,687.60, reflecting a growth of 59.78% year-on-year[45]. Cash Flow and Investments - The net cash flow from operating activities was negative CNY 11,350,131.97, a decline of 106.16% compared to CNY 184,260,493.52 in 2016[18]. - The company reported a net cash flow from operating activities of CNY 76,043,985.06 in the fourth quarter, indicating a recovery in cash flow[22]. - Investment cash inflow surged by 716.62% to CNY 21,999,791.12, mainly from dividends received from subsidiaries[64]. - Financing cash inflow rose by 39.56% to CNY 1,380,973,255.47, mainly from non-public stock issuance[66]. - The company completed a non-public offering of 51,554,440 shares at a price of CNY 16.71 per share, raising a total of CNY 861.47 million, with a net amount of CNY 844.69 million after expenses[38]. Assets and Liabilities - Total assets at the end of 2017 were CNY 2,355,346,377.04, an increase of 24.48% from CNY 1,892,194,370.56 at the end of 2016[18]. - The net assets attributable to shareholders increased by 100.33% to CNY 1,801,811,296.74 from CNY 899,418,270.32 in 2016[18]. - Cash and cash equivalents decreased by 755.10% to a net outflow of CNY 35,315,646.46, impacted by the acquisition of Hongtai Mining and increased operational cash outflows[66]. - Short-term borrowings decreased by 19.44% to CNY 325,420,683.46, due to repayment of bank loans[70]. Operational Highlights - The company has a total installed capacity of 201,250 kW for its hydropower stations, enhancing its energy supply for production[30]. - The company acquired 100% equity of Guizhou Panhua Mining Group's Hongtai Mining Co., Ltd., consolidating its resource base[31]. - The company is actively pursuing external mining investments to enhance its raw material self-sufficiency[28]. - The company achieved a net profit of 55.29 million yuan in 2017, but is not expected to distribute dividends due to past losses[98]. - The company plans to produce 26,000 tons of zinc concentrate and 51,000 tons of zinc ingots in 2018[95]. Market and Competitive Position - The company has established a strong market position and brand recognition, with its "Jiulong" brand of electrolytic zinc recognized as a famous trademark in China[32]. - The company aims to enhance resource self-sufficiency by acquiring and integrating mineral resources, particularly in the Yunnan region[93]. - The company is focused on enhancing its brand value and market competitiveness through resource integration and technological advancements[93]. Risks and Challenges - The company has identified various risks including policy risks, product price fluctuations, and environmental risks in its future outlook[4]. - The company faces risks from fluctuating zinc prices, which could impact profitability if prices decline significantly[96]. - The company faced challenges in 2017, including rising production costs due to increasing prices of raw materials and energy, alongside environmental and safety pressures[91]. Environmental and Social Responsibility - The company has been recognized as a key polluter by environmental protection authorities, indicating ongoing compliance challenges[167]. - The company has implemented a zero wastewater discharge policy, ensuring all wastewater is treated and reused within the facility[171]. - The company has actively participated in social responsibility initiatives, including a total of 500,000 CNY allocated for poverty alleviation projects, improving infrastructure in local villages[158]. Corporate Governance - The company has not made any changes to its controlling shareholders during the reporting period[16]. - The controlling shareholder committed to not reducing their shareholding in the company within the next 12 months, effective from November 17, 2016[104]. - The company has maintained compliance with securities laws and regulations, ensuring legal participation in the securities market[104].

云南罗平锌电股份有限公司 2017 年第三季度报告正文 证券代码：002114 证券简称：罗平锌电 公告编号：2017-64 云南罗平锌电股份有限公司 2017 年第三季度报告正文 1 云南罗平锌电股份有限公司 2017 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨建兴、主管会计工作负责人周新标及会计机构负责人(会计主 管人员)张金美声明：保证季度报告中财务报表的真实、准确、完整。 2 云南罗平锌电股份有限公司 2017 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 2,381,724,110.67 | | 1,892,194,370.56 | 25.87% | | 归属 ...

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 511,028,755.24, representing a 105.62% increase compared to CNY 248,531,755.98 in the same period last year[17]. - The net profit attributable to shareholders was CNY 7,796,010.64, a significant turnaround from a loss of CNY 23,625,839.71 in the previous year, marking a 133.00% improvement[17]. - The net profit after deducting non-recurring gains and losses was CNY 7,179,561.45, compared to a loss of CNY 37,945,527.24 last year, reflecting a 118.92% increase[17]. - The basic earnings per share improved to CNY 0.02 from a loss of CNY 0.09, representing a 122.22% increase[17]. - The company reported a net cash flow from operating activities of CNY -185,267,764.12, which is a decline of 811.74% compared to CNY -20,320,332.83 in the previous year[17]. - The weighted average return on net assets was 0.48%, a recovery from -2.93% in the same period last year, showing an improvement of 3.41%[17]. - The company achieved operating revenue of 511.03 million yuan, an increase of 105.62% compared to the same period last year[37]. - The net profit attributable to the parent company was 7.80 million yuan, reflecting a 133% increase year-on-year[37]. - The company reported a significant decrease in financial expenses by 57.36%, down to ¥7,651,453.67 from ¥17,943,106.93, mainly due to a substantial reduction in short-term borrowings[41]. - The company reported a net loss of CNY 218,016.96 from its subsidiary, Longping Rongxin Precious Metals Co., Ltd.[67]. Asset and Liability Management - The company's total assets increased by 25.37% to CNY 2,372,335,580.20 from CNY 1,892,194,370.56 at the end of the previous year[17]. - The net assets attributable to shareholders rose by 94.93% to CNY 1,753,246,413.90 from CNY 899,418,270.32 at the end of the previous year[17]. - The total liabilities decreased to CNY 611,547,690.63 from CNY 983,892,197.68, showing a reduction of approximately 37.8%[166]. - The company's cash and cash equivalents decreased to CNY 138,071,809.71 from CNY 193,623,035.60, a decline of about 28.7%[164]. - The total owner's equity increased to CNY 1,760,787,889.57 from CNY 908,302,172.88, representing a growth of approximately 93.8%[167]. Capital Raising and Investments - The company raised CNY 844,691,017.57 through a private placement of 51,554,440 shares at CNY 16.71 per share[17]. - The company raised a total of RMB 861,474,692.40 through a private placement of 51,554,440 shares at a price of RMB 16.71 per share, with a net amount of RMB 844,691,017.57 after expenses[23]. - The company acquired 100% equity of Hongtai Mining, which has a zinc ore reserve of 459,700 tons, using part of the funds raised from the private placement[23]. - The company invested CNY 83.32 million in the zinc slag comprehensive recovery system technology transformation project during the reporting period[60]. - The company plans to use the raised funds for acquiring 100% equity of Hongtai Mining, technology upgrades for zinc slag comprehensive recovery systems, and to supplement working capital[125]. Operational Developments - The company has a total hydropower generation capacity of 201,250 kW, including a self-owned hydropower station with a capacity of 60,000 kW[24]. - The company increased its zinc production capacity from 60,000 tons/year to 120,000 tons/year by adding a 20,000 tons oxidized ore processing system and a 40,000 tons zinc oxide powder processing system[25]. - The company has successfully developed advanced resource recycling technologies, enhancing its profitability and market competitiveness in the zinc industry[25]. - The company has implemented technical upgrades to its zinc smelting process, significantly improving product quality and reducing production costs[25]. - The company has completed the construction and operation of its comprehensive recovery system for zinc-containing slag, which has passed environmental inspections[25]. Market and Industry Conditions - Global zinc inventories have decreased to approximately 375,000 tons, supporting zinc prices due to lower supply[35]. - The supply of zinc concentrate is tight, and the company aims to improve self-sufficiency in raw materials through acquisitions and strategic procurement measures[72]. - The volatility of zinc prices poses a risk to profitability; the company intends to strengthen operational management and engage in futures hedging to mitigate this risk[72]. - Environmental regulations are becoming stricter, requiring increased investment in pollution control, which may pressure profit margins in the zinc industry[74]. Shareholder and Governance Matters - The company plans not to distribute cash dividends or issue bonus shares[6]. - The controlling shareholder, Luoping Zinc Electric Company, has committed not to reduce its shareholding in the company within the next 12 months[79]. - The company has strictly adhered to legal and regulatory obligations in securities market transactions[80]. - The company guarantees the independence of its operations and assets post-transaction with Guizhou Panhua Mining Group[80]. - The company has committed to ensuring that its controlled mining companies prioritize sales through Luoping Zinc Electric if they meet production conditions[80]. Community and Environmental Initiatives - The company has coordinated 500,000 CNY for road repairs in the He Wai village, improving local transportation[111]. - The company has donated 1,000,000 CNY to support road hardening projects in two villages, addressing travel difficulties[111]. - The company has helped 12 impoverished households in He Wai village to escape poverty during the reporting period[111]. - The company has coordinated an additional 500,000 CNY for the construction of public toilets in He Wai village, enhancing local living conditions[111]. - The company is actively seeking support from higher authorities to develop forestry industries and expand agricultural income channels[115].

云南罗平锌电股份有限公司 2017 年第一季度报告正文 证券代码：002114 证券简称：罗平锌电 公告编号：2017-37 云南罗平锌电股份有限公司 2017 年第一季度报告正文 2017 年 04 月 1 云南罗平锌电股份有限公司 2017 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨建兴、主管会计工作负责人周新标及会计机构负责人(会计主 管人员)张金美声明：保证季度报告中财务报表的真实、准确、完整。 2 云南罗平锌电股份有限公司 2017 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | | 营业收入（元） | 239,005,917.13 | 80,201,999. ...

Financial Performance - The company's operating revenue for 2016 was CNY 1,003,725,509.22, representing a 6.88% increase compared to CNY 939,090,095.96 in 2015[19]. - The net profit attributable to shareholders for 2016 was CNY 82,913,501.81, a significant increase of 367.67% from CNY 17,729,192.98 in 2015[19]. - The net profit after deducting non-recurring gains and losses was CNY 56,240,388.99, up 324.69% from CNY 13,242,825.54 in the previous year[19]. - The net cash flow from operating activities reached CNY 184,260,493.52, a remarkable increase of 1,454.08% compared to a negative cash flow of CNY 13,607,813.35 in 2015[19]. - Basic earnings per share for 2016 were CNY 0.31, reflecting a 342.86% increase from CNY 0.07 in 2015[19]. - The total profit for 2016 was CNY 97,150,253.99, which is a significant increase of 373.51% compared to the previous year[49]. - The company's main business cost was CNY 779,639,133.34, an increase of 6.20% year-on-year[49]. - The company's financial expenses decreased by 16.88% year-on-year, amounting to CNY 37,166,090.40[49]. Assets and Liabilities - Total assets at the end of 2016 amounted to CNY 1,892,194,370.56, a 5.77% increase from CNY 1,789,022,681.56 at the end of 2015[20]. - The net assets attributable to shareholders increased by 10.05% to CNY 899,418,270.32 from CNY 817,262,521.37 in 2015[20]. - The fixed assets increased by 63.20 million CNY, representing a growth of 12.26%, due to the completion of the zinc slag recovery project and defluorination technology upgrade[36]. - Cash and cash equivalents decreased by 83.25% year-on-year, primarily due to loan repayments and reduced net cash flow from financing activities[74]. - Short-term borrowings decreased by 4.89% year-on-year to 629,320,000 yuan, indicating repayment of bank loans[78]. Production and Sales - Zinc ingot sales accounted for 92.43% of total revenue, with sales amounting to CNY 927,695,585.98, reflecting a year-on-year increase of 22.57%[52]. - The company’s sales volume of zinc ingots was 64,509.968 tons, which is a 7.16% increase from the previous year[56]. - Zinc ingot production increased by 11.54% to 68,258.193 tons, while inventory surged by 136.70% to 5,739.732 tons due to increased production and delayed sales[57]. - The company produced 29,542.93 tons of zinc concentrate, achieving 60.82% of its annual plan, while zinc ingot production reached 68,258.193 tons, completing 100.38% of the target[97]. Strategic Initiatives - The company plans to continue expanding its mining operations through strategic acquisitions to enhance raw material self-sufficiency[30]. - The company aims to enhance its resource self-sufficiency by acquiring and integrating mineral resources, leveraging the Belt and Road Initiative[95]. - The company has established a "diversified, multi-level, high value-added" development strategy, investing over 60 million CNY to build a superfine zinc powder processing plant with an annual capacity of 6,000 tons[35]. - The company plans to deepen market-oriented reforms in its smelting production system to enhance competitiveness[99]. Technological Advancements - The company successfully developed multiple advanced resource utilization technologies, including germanium-indium co-extraction and silver flotation from leach residues, enhancing profitability and market competitiveness in the zinc industry[33]. - The comprehensive recovery system and defluorination technology upgrades are nearing completion, expected to improve resource utilization efficiency and profitability[40]. - The company has obtained 8 national invention patents, enhancing its technological advantages and converting technological achievements into economic benefits[41]. Risks and Challenges - The management has highlighted various risks including policy risks and product price fluctuations that may impact future performance[5]. - The company faces risks from policy changes, product price fluctuations, and raw material supply constraints, which could impact profitability[100][102]. - The company has identified potential risks related to environmental regulations and the inability to distribute dividends due to past losses[104][105]. Corporate Governance and Compliance - The company has maintained compliance with securities laws and regulations, ensuring timely information disclosure[112]. - The company guarantees its independence in business, assets, finance, personnel, and institutions following the completion of the transaction[113]. - The company has not faced any significant administrative or criminal penalties in the last five years, nor does it have any major civil litigation or arbitration related to economic disputes[114]. - The company has committed to ensuring that the products from other mining companies it controls will be prioritized for agency sales by Luoping Zinc & Electric[114]. Social Responsibility and Community Engagement - The company allocated CNY 303,000 for poverty alleviation projects, helping 17 individuals from 5 households to escape poverty[162][167]. - The company provided CNY 30,000 for direct assistance to impoverished households and invested in infrastructure improvements, including road repairs and water supply projects[162][163][164][165]. - The company is committed to social responsibility, engaging in charitable activities such as education support and poverty alleviation[170]. - The company has implemented a tiered responsibility system for poverty alleviation, ensuring accountability at all levels of management[169]. Future Outlook - For 2017, the company plans to produce 46,600 tons of zinc concentrate and 68,000 tons of zinc ingots, with a total power generation target of 24,000 million kWh[98]. - The global refined zinc supply is expected to remain tight in 2017, with a projected overall increase in production but still significant shortages supporting higher zinc prices[94]. - The company anticipates a domestic zinc production increase of approximately 25,000 tons in 2017, despite a decrease in new mining projects compared to 2016[93].

Financial Performance - Operating revenue for the reporting period was ¥367,698,344.02, representing a year-on-year increase of 47.42%[8]. - Net profit attributable to shareholders was ¥49,786,198.46, a significant increase of 365.85% compared to the same period last year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥49,197,945.14, up 694.57% year-on-year[8]. - Basic earnings per share were ¥0.18, reflecting a 350.00% increase compared to the same period last year[8]. - The weighted average return on equity was 6.07%, an increase of 4.74% compared to the previous year[8]. - The net profit increased by 193.64% compared to the same period last year, attributed to rising zinc prices and reduced financial expenses[19]. - The operating profit increased by 325.02% compared to the same period last year, mainly due to higher gross margins from zinc sales[20]. - The estimated net profit attributable to shareholders for 2016 is projected to be between 45 million and 55 million yuan, representing a year-on-year increase of 97.41% to 153.82% compared to 17.73 million yuan in 2015[45]. - The increase in net profit is primarily attributed to the rise in zinc prices[45]. Cash Flow and Assets - The company reported a net cash flow from operating activities of ¥51,894,698.16, a staggering increase of 1,800.95% year-to-date[8]. - Cash flow from operating activities increased by 1,800.95% compared to the same period last year, reflecting a significant increase in cash inflows from sales[26]. - The total assets at the end of the reporting period reached ¥1,876,472,913.03, an increase of 4.89% compared to the end of the previous year[8]. - Inventory increased by 103.59% to ¥286,443,502.28 compared to the beginning of the year[16]. - The accounts receivable balance decreased by 86.04% compared to the beginning of the period, primarily due to the collection of payments from customers totaling 66.15 million yuan[17]. - The construction in progress balance increased by 296.08% compared to the beginning of the period, driven by investments in zinc slag resource recovery and tailings treatment systems[18]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,431[12]. - The largest shareholder, Luoping Zinc & Electricity Company, held 35.90% of the shares, amounting to 97,597,600 shares[12]. Financing Activities - Cash received from financing activities increased by 30.82% compared to the same period last year, mainly due to the increase in margin for expired financing pledges[27]. - Cash paid for debt repayment increased by 47.86% year-on-year, primarily due to the repayment of short-term loans and domestic letters of credit[27]. - Net cash flow from financing activities decreased by 98.88% year-on-year, as the increase in cash inflow (15.43%) was less than the increase in cash outflow (22.83%)[27]. Private Placement and Investments - The company plans to raise funds through a private placement to acquire 100% equity of Hongtai Mining Co., Ltd. and to establish a zinc slag comprehensive recovery system technology renovation project[28]. - The private placement is expected to raise up to approximately RMB 894.83 million, with funds allocated for the acquisition, technology renovation, and working capital[29]. - The adjusted private placement plan involves issuing no more than 54,731,556 shares, with a total fundraising amount not exceeding RMB 861.47 million[36]. - The total investment for acquiring Hongtai Mining is RMB 450.09 million, while the technology renovation project is estimated at RMB 191.86 million[36]. Regulatory Compliance and Commitments - The company has been actively disclosing progress on the private placement and related regulatory feedback since March 2015[30][31][32][33][34][35]. - The company received approval from the China Securities Regulatory Commission for its non-public stock issuance application[37]. - The company has committed to maintaining the independence of its operations and assets post-restructuring[39]. - The company guarantees that its provided information and documents are complete, true, and reliable, assuming legal responsibility for any inaccuracies[40]. - The company has committed to not transferring shares for 36 months following the listing of shares from a major asset restructuring[39]. - The company has made commitments regarding the governance structure, ensuring no changes to the board and management positions for 36 months post-restructuring[44]. Production and Future Commitments - The production forecast for the Lumaolin lead-zinc mine is set at 400,000 tons for 2016 and 500,000 tons for 2017, with net profit predictions of 47.95 million yuan and 54.03 million yuan respectively[43]. - If the actual production falls below the committed levels, the company will receive compensation based on a specific formula related to the predicted and actual production figures[43]. - The company has made commitments to not engage in any new businesses that would compete with its existing operations in the mining and metallurgy sectors[43]. Legal and Compliance Matters - The company has not faced any significant administrative or criminal penalties in the last five years[40]. - The company has no major legal obstacles or disputes related to the transfer of the target companies[41]. - The company will ensure compliance with relevant laws and regulations regarding related party transactions[41]. - There were no instances of non-compliance with external guarantees during the reporting period[47]. - There were no non-operational fund occupations by controlling shareholders or related parties during the reporting period[48].

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 248,531,755.98, a decrease of 18.87% compared to the same period last year[21]. - The net profit attributable to shareholders was a loss of CNY 23,625,839.71, an improvement of 37.52% from a loss of CNY 37,810,872.93 in the previous year[21]. - The net cash flow from operating activities was a negative CNY 20,320,332.83, which is a decline of 119.60% compared to the previous year's negative CNY 9,253,276.90[21]. - The total revenue for the first half of 2016 was CNY 241,669,019.07, representing a 10.53% increase compared to the same period in 2015[37]. - The company's main business income decreased by 19.61% to CNY 241.67 million, while the main business profit dropped by 60.83% to CNY 22.38 million[30]. - The company reported a decrease in sales expenses by 2.08% to CNY 9.25 million, while management expenses decreased by 11.20% to CNY 30.75 million[31]. - The company reported a net profit of CNY -23.63 million, an increase of 37.52% year-on-year[30]. - The company achieved a gross profit margin of approximately 5.4% for the first half of 2016, compared to 8.4% in the previous year[138]. - The net profit for the first half of 2016 was a loss of CNY 26,933,624.59, improving from a loss of CNY 48,446,947.26 in the previous year, representing a reduction in loss of 44.0%[139]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,955,286,191.48, reflecting a 9.29% increase from CNY 1,789,022,681.56 at the end of the previous year[21]. - The total liabilities increased to CNY 1,151,109,636.94 from CNY 961,588,307.89, indicating a rise of about 19.73%[128]. - The total equity attributable to shareholders decreased to CNY 794,746,528.72 from CNY 817,262,521.37, reflecting a decline of about 2.74%[129]. - The company's inventory grew significantly to CNY 283,609,010.08, up from CNY 140,698,224.58, which is an increase of approximately 101.25%[126]. - The company's cash and cash equivalents rose to CNY 279,161,198.78 from CNY 202,875,283.74, marking an increase of approximately 37.47%[126]. - The company's total assets increased to CNY 1,737,598,585.52 from CNY 1,588,637,138.00, representing a growth of approximately 9.35%[132]. - The total liabilities increased to CNY 1,070,276,881.48 from CNY 893,733,812.06, which is an increase of approximately 19.8%[133]. - The company's cash and cash equivalents rose to CNY 246,853,470.70 from CNY 184,079,041.41, reflecting a growth of about 34%[132]. Cash Flow - The net cash flow from financing activities increased by 60.25% to CNY 151.48 million, mainly due to higher cash received from loans[31]. - The cash flow from operating activities showed a net outflow of CNY 20,320,332.83, worsening from a net outflow of CNY 9,253,276.90 in the previous year[142]. - The company reported cash inflow from financing activities of CNY 622,282,942.50, an increase of 30.1% compared to CNY 478,452,241.67 in the same period last year[143]. - The total cash inflow from financing activities reached 542,672,000.00 CNY, up from 321,390,000.00 CNY in the previous period, reflecting a 68.7% increase[146]. - The cash outflow for repaying debts was 340,200,000.00 CNY, compared to 249,000,000.00 CNY in the previous period, indicating a 36.7% increase in debt repayment[146]. Production and Operations - The company produced 20,330.75 tons of zinc concentrate, completing 41.86% of its annual production plan[34]. - The company plans to produce 68,000 tons of zinc ingots in 2016, with actual production reaching 21,594.90 tons, completing 31.76% of the target[34]. - The company has established a comprehensive management system certified with ISO9001, ISO14001, GB/T28001, and ISO50001, enhancing its brand image and market recognition[38]. - The company completed a significant asset restructuring by acquiring 100% of the shares of two mining companies, improving its raw material self-sufficiency for zinc production[39]. - The company is investing in technology upgrades, including a project to improve the comprehensive recovery of zinc slag, which is expected to enhance resource utilization efficiency[41]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The governance structure of the company has been continuously improved in accordance with relevant laws and regulations[64]. - The company has maintained compliance with the operational requirements of the board of directors and supervisory board[64]. - The company has not engaged in any asset sales during the reporting period[69]. - The company has not implemented any equity incentive plans during the reporting period[71]. Regulatory and Compliance - The semi-annual financial report for the company has not been audited[96]. - The company has not faced any penalties or rectification issues during the reporting period[97]. - The company received a notice of acceptance for its application for administrative licensing from the China Securities Regulatory Commission on January 15, 2016[100]. - The company received a second feedback notice from the China Securities Regulatory Commission (CSRC) on April 22, 2016, requiring written explanations and responses within 30 days[102]. - As of June 28, 2016, the CSRC suspended the review of the company's non-public stock issuance application due to an investigation involving related intermediaries, creating uncertainty regarding approval[104]. Investment and Future Plans - The company plans to raise approximately CNY 894.831 million through a non-public offering of up to 57 million shares, aimed at acquiring 100% of Hongtai Mining and funding a zinc slag comprehensive recovery system technology transformation project[99]. - The company expects a net profit of between 15 million to 25 million yuan for the first three quarters of 2016, a turnaround from a net loss of 27.12 million yuan in the same period last year[58]. - The company has committed to maintaining a cash dividend policy, distributing no less than 15% of the annual distributable net profit as cash dividends, and ensuring that cumulative cash distributions over any three consecutive years are not less than 30% of the average annual distributable profit[94]. Financial Reporting and Accounting - The company adheres to the enterprise accounting standards, ensuring that the financial statements accurately reflect its financial position, operating results, and cash flows[171]. - The accounting period for the company is from January 1 to December 31, with a business cycle of 12 months[172][173]. - The company uses Renminbi as its functional currency for accounting purposes[174]. - The company recognizes financial assets at fair value upon entering into a financial instrument contract, with subsequent measurement based on their classification[182]. - The company applies the equity method for investments in joint ventures and associates, adjusting for internal transaction profits based on ownership percentage[195].

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 248,531,755.98, a decrease of 18.87% compared to the same period last year[21]. - The net profit attributable to shareholders was a loss of CNY 23,625,839.71, an improvement of 37.52% from a loss of CNY 37,810,872.93 in the previous year[21]. - The net cash flow from operating activities was a negative CNY 20,320,332.83, which is a decline of 119.60% compared to the previous year's negative CNY 9,253,276.90[21]. - The total assets at the end of the reporting period were CNY 1,955,286,191.48, reflecting an increase of 9.29% from CNY 1,789,022,681.56 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 2.76% to CNY 794,746,528.72 from CNY 817,262,521.37 at the end of the previous year[21]. - Basic and diluted earnings per share were both negative CNY 0.09, an improvement of 35.71% from negative CNY 0.14 in the same period last year[21]. - The weighted average return on net assets was -2.93%, slightly improved from -2.95% in the previous year[21]. - The company reported a significant increase in non-recurring losses, with a net profit excluding non-recurring items at negative CNY 37,945,527.24, a decline of 150.70% compared to negative CNY 15,135,673.09 last year[21]. Revenue and Production - The company produced 20,330.75 tons of zinc concentrate, completing 41.86% of its annual production plan[34]. - The company plans to produce 68,000 tons of zinc ingots in 2016, with actual production reaching 21,594.90 tons, completing 31.76% of the target[34]. - The company reported a gross profit margin of 10.45% in the non-ferrous metal smelting sector, down 9.16% year-on-year[36]. - The total revenue for the first half of 2016 was CNY 241,669,019.07, representing a 10.53% increase compared to the same period in 2015[37]. - Lead concentrate revenue increased significantly by 56.60% to CNY 21,601,711.99, while zinc ingot revenue grew by 5.11% to CNY 215,667,761.84[37]. - The company achieved a 100% increase in silver concentrate revenue, reaching CNY 540,838.24, although it experienced a 92.77% decline compared to the previous period[37]. Cash Flow and Investments - The net cash flow from investing activities was CNY -64.60 million, a decrease of 47.24% year-on-year, attributed to increased capital expenditures on new projects[31]. - The net cash flow from financing activities increased by 60.25% to CNY 151.48 million, mainly due to higher cash received from loans[31]. - The company reported a total investment of 19,186 million CNY in the zinc slag comprehensive recovery system project, with an actual investment of 5,540.73 million CNY during the reporting period[56]. - The comprehensive recovery system project is expected to generate annual sales revenue of 15,200 million CNY and an average annual profit of 1,867 million CNY once operational[57]. - The investment in the oxygenated zinc powder defluorination and dechlorination technology transformation project totaled 2,424.33 million CNY, with an actual investment of 745.87 million CNY[57]. Corporate Governance and Compliance - The company has not made any changes to its accounting policies or restated previous financial data[21]. - The company has maintained compliance with corporate governance regulations and has no discrepancies with legal requirements[64]. - There were no significant litigation or arbitration matters during the reporting period[65]. - The company has not engaged in any external investments or financial securities during the reporting period[43][44][45][46]. - The company has not faced any significant administrative or criminal penalties in the last five years, nor does it have any major civil litigation or arbitration related to economic disputes[91]. Future Outlook and Strategy - The company plans to strengthen its supply chain by acquiring 100% equity of Hongtai Mining, further increasing its raw material self-sufficiency[39]. - The company is focused on optimizing equipment to reduce energy consumption and achieve comprehensive energy-saving and emission-reduction goals[57]. - The company plans to continue focusing on market expansion and new product development to enhance future growth prospects[157]. - The overall performance guidance for the next quarter indicates a cautious outlook due to market volatility and competition[156]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[157]. Shareholder Information - The total number of shares outstanding is 271,840,800, with 68.29% being restricted shares[108]. - The state-owned shareholder holds 97,597,600 shares, representing 35.90% of the total shares[111]. - The company has a total of 35,002 preferred shareholders with voting rights restored at the end of the reporting period[111]. - The company has not distributed cash dividends or issued new shares from capital reserves for the current half-year period[60]. - The company has committed to maintaining a cash dividend policy, distributing no less than 15% of the annual distributable net profit as cash dividends[94]. Financial Reporting and Audit - The financial report for the first half of 2016 was not audited, which may impact the reliability of the financial data presented[124]. - The company’s half-year financial report has not been audited[96]. - The company emphasizes the importance of ongoing information disclosure to mitigate investment risks associated with the uncertainty of the stock issuance approval[104]. Accounting Policies - The company adheres to the enterprise accounting standards, ensuring that financial statements accurately reflect its financial position, operating results, and cash flows[171]. - The company uses Renminbi as its functional currency for accounting purposes[174]. - Cash and cash equivalents are defined as cash on hand and deposits that are readily available for payment, with cash equivalents having a maturity of no more than three months[179]. - Financial assets are classified into four categories, including those measured at fair value with changes recognized in profit or loss, and loans and receivables[181].

Financial Performance - The company's operating revenue for Q1 2016 was ¥80,201,999.34, a decrease of 9.48% compared to ¥88,596,788.14 in the same period last year[8] - The net profit attributable to shareholders was -¥23,773,683.53, representing a decline of 55.93% from -¥15,246,628.71 year-on-year[8] - The net cash flow from operating activities was -¥84,478,294.56, a significant decrease of 229.79% compared to ¥65,090,022.58 in the previous year[8] - The basic earnings per share were -¥0.09, compared to -¥0.06 in the same period last year, reflecting a 50% increase in loss per share[8] - The weighted average return on equity was -2.95%, down from -1.93% in the previous year, indicating a worsening financial performance[8] - The net profit attributable to shareholders decreased by 55.93% year-on-year, primarily due to a decline in zinc prices[22] - The company expects a net loss of between CNY -25 million and CNY -15 million for the first half of 2016, compared to a net profit of CNY -37.81 million in the same period of 2015[39] - The increase in investment income and decrease in financial expenses compared to the previous year are the main reasons for the expected performance change[39] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,820,972,675.71, an increase of 1.79% from ¥1,789,022,681.56 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.93% to ¥793,320,861.32 from ¥817,262,521.37 at the end of the previous year[8] - Accounts receivable decreased by 99.97% from the beginning of the period, primarily due to the collection of receivables from major customers[16] - Prepayments decreased by 48.00% compared to the beginning of the period, mainly due to the settlement of prepaid raw material payments[17] - Cash paid for purchasing goods and services surged by 418.28% year-on-year, mainly due to increased procurement payments[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 29,173, with the top ten shareholders holding significant stakes[12] - The largest shareholder, Luoping Zinc & Electricity Co., Ltd., held 35.90% of the shares, while the second-largest shareholder, Guizhou Panhua Mining Group Co., Ltd., held 32.37%[12] Non-Operating Income and Expenses - The company reported non-operating income of ¥14,785,848.02, primarily from government subsidies and investment income[9] - The company’s tax expenses decreased by 56.51% year-on-year, largely due to a reduced tax rate for subsidiaries[22] Financing Activities - The company received cash from financing activities increased by 30.82% year-on-year, mainly from increased financing pledge deposits[26] - The company plans to raise approximately RMB 894.83 million through a private placement to acquire 100% of Hongtai Mining and fund a zinc slag recovery system project[27] Regulatory Compliance and Commitments - The company received feedback from the China Securities Regulatory Commission regarding its non-public stock issuance application on February 15, 2016, requiring a written response within 30 days[29] - On March 12, 2016, the company and related intermediaries addressed the feedback and publicly disclosed the response on March 12, 2016[29] - The company submitted a revised response to the feedback on March 31, 2016, and again on April 1, 2016, as per the regulatory requirements[30] - The non-public stock issuance is still subject to approval from the China Securities Regulatory Commission, and its outcome remains uncertain[30] - The company has committed to not reducing its shareholding or relinquishing control over Yunnan Luoping Zinc & Electricity Co., Ltd. for 36 months following the restructuring completion[32] - The company guarantees the operational independence of Luoping Zinc in terms of business, assets, finance, personnel, and organization following the transaction[32] - The company legally holds equity in two mining companies without any third-party transfers or pledges[32] - The company has fulfilled its commitments regarding shareholding and operational independence as of the reporting period[32] - The company will continue to disclose information timely based on the approval progress from the regulatory authority[30] Asset Transactions and Evaluations - The company plans to sell the assets of De Rong Mining Co., Ltd. and Xiang Rong Mining Co., Ltd., ensuring that the asset ownership is clear and free from any legal obstacles[35] - The acquisition price for the targeted companies is set at RMB 630 million, with additional cash compensation required if the adjusted net asset value falls below this amount[35] - The company will conduct a net asset evaluation of De Rong Mining and Xiang Rong Mining within 30 days after the performance compensation period ends, accepting the evaluation results unconditionally[35] - The company ensures that all properties included in the transaction are free from ownership disputes and will handle property certificate processing before the asset delivery date[35] Production Commitments - The Lu Mao Lin lead-zinc mine is projected to produce 400,000 tons in 2016 and 500,000 tons in 2017, with net profit forecasts of 47.9471 million yuan and 54.0278 million yuan respectively after deducting non-recurring gains and losses[37] - If the actual production of the Lu Mao Lin lead-zinc mine falls below the promised values, the company will compensate Ro Ping Zinc Electric within 10 working days in cash based on a specific formula[37] Competition and Related Party Transactions - The company commits to not increase any direct or indirect competition in hydropower, lead-zinc, and other non-ferrous metal production and sales businesses if it holds more than 5% of Ro Ping Zinc Electric shares[36] - The company will minimize related party transactions with listed companies post-transaction, adhering to market principles and legal regulations[35] Legal and Compliance Matters - The company has not faced any significant administrative penalties or criminal sanctions in the last five years, nor does it have any major civil litigation related to economic disputes[34] - There were no violations regarding external guarantees during the reporting period[40] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[41] - The company engaged in multiple telephone communications regarding non-public stock issuance and operational matters in January, February, and March 2016[42]