湖南辰州矿业股份有限公司 2014 年第三季度报告正文 证券代码：002155 证券简称：辰州矿业 公告编号：2014-3Q 湖南辰州矿业股份有限公司 2014 年第三季度报告正文 2014 年 10 月 1 湖南辰州矿业股份有限公司 2014 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。 公司负责人陈建权、主管会计工作负责人湛飞清及会计机构负责人(会计主管人员)卓静声明：保证季 度报告中财务报表的真实、准确、完整。 2 湖南辰州矿业股份有限公司 2014 年第三季度报告正文 第二节 主要财务数据及股东变化 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年 | | --- | --- | --- | --- | --- | | | | | | 度末增减 | | | | 调整前 | 调整后 | 调整后 ...

Financial Performance - The company's operating revenue for the reporting period was ¥2,558,765,251.92, a decrease of 5.92% compared to ¥2,719,800,480.91 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥53,849,310.39, down 31.51% from ¥78,621,906.72 year-on-year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥57,546,942.92, a decrease of 24.10% compared to ¥75,815,926.69 in the previous year[21]. - The net cash flow from operating activities was ¥146,271,958.91, down 54.74% from ¥323,213,475.68 in the same period last year[21]. - Basic earnings per share were ¥0.05, a decline of 37.50% from ¥0.08 in the previous year[21]. - The total profit for the period was 57 million yuan, down 42.22% year-on-year[27]. - The company achieved a sales revenue of 2.559 billion yuan, a year-on-year decrease of 5.92%[27]. - The overall gross profit margin decreased by 0.20 percentage points, primarily due to declining product prices and sales volume[33]. - The net profit for the period was CNY 44,811,091.92, a decline of 39.4% from CNY 73,895,947.86 in the previous period[124]. - The company reported a total comprehensive income of CNY 44,811,091.92, down 39.4% from CNY 73,895,947.86 in the previous period[124]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,496,924,835.55, an increase of 1.01% from ¥4,451,852,168.52 at the end of the previous year[21]. - Total liabilities rose to CNY 1,356,155,910.95 from CNY 1,324,814,906.23, an increase of approximately 2.36%[118]. - The equity attributable to shareholders increased to CNY 3,091,864,620.12 from CNY 3,068,343,366.43, reflecting a growth of about 0.77%[118]. - Current assets decreased to CNY 1,588,398,896.50 from CNY 1,725,213,240.12, a decline of about 7.93%[116]. - The company's cash and cash equivalents increased to CNY 161,555,412.63 from CNY 113,867,039.12, marking a growth of about 41.9%[116]. Production and Sales - Gold production reached 6,466 kg, an increase of 2.44% year-on-year, while antimony production fell by 9.83% to 13,772 tons[28]. - Gold sales revenue accounted for 65.39% of total main business income, down from 70.80% in the same period last year, a decrease of 5.41 percentage points[33]. - Gold sales revenue was CNY 165,674.09 million, a year-on-year decrease of 13.74%, primarily due to falling gold prices[33]. - Antimony product sales revenue increased to CNY 64,339.65 million, a year-on-year growth of 0.88%, driven by increased sales volume[33]. - Tungsten product sales revenue rose to CNY 13,784.79 million, a year-on-year increase of 8.84%, also due to higher sales volume[33]. Investments and Projects - Basic construction investment totaled 176.6 million yuan, with significant progress on key projects such as the expansion of the Xiang'an tungsten plant[29]. - The company is actively pursuing asset restructuring, including the acquisition of 100% equity in Hunan Golden Cave Mining Co., Ltd.[31]. - The company is currently working on significant projects, including the Woxi pit, with a planned total investment of 206.11 million yuan, of which 15.59 million yuan has been invested in the reporting period[63]. Cash Flow - Cash flow from operating activities dropped by 54.74% to CNY 146,271,958.91, attributed to a reduction in inventory[34]. - The cash outflow for operating activities totaled 2,229,144,405.30 yuan, slightly decreased from 2,238,158,700.54 yuan in the previous period[134]. - The company reported a net increase in cash and cash equivalents of 62,111,293.67 yuan, contrasting with a decrease of -19,021,718.28 yuan in the prior period[135]. Shareholder Information - The company has a total of 996,268,000 shares, with 99.98% being unrestricted shares[101]. - Hunan Gold Group holds 34.54% of the shares, amounting to 344,144,930 shares[103]. - The company reported a total of 110,977 common shareholders at the end of the reporting period[102]. - There were no changes in the controlling shareholder or actual controller during the reporting period[106]. Risk Management - The company has implemented risk control measures for derivative investments, including matching hedging with production operations[56]. - The company reported a liquidity risk, indicating potential forced liquidation if margin calls are not met[56]. - The company has implemented a risk management and internal control system to enhance operational efficiency and compliance[72]. Accounting Policies - The company’s financial statements are prepared based on the assumption of continued operations, following the accounting standards issued by the Ministry of Finance[151]. - The company prepares consolidated financial statements in accordance with the requirements of the Accounting Standards for Business Enterprises No. 33, which includes offsetting all significant internal transactions and balances within the consolidated scope[160]. - The company recognizes financial assets or liabilities when it becomes a party to the financial instrument contract, measuring them initially at fair value[166].

Financial Performance - Revenue for Q1 2014 was CNY 1,180,381,901.91, a decrease of 19.07% compared to CNY 1,458,473,103.90 in the same period last year[8] - Net profit attributable to shareholders was CNY 10,947,565.80, down 84.48% from CNY 70,544,632.39 year-on-year[8] - Basic earnings per share decreased to CNY 0.01, representing an 85.71% decline from CNY 0.07 in the previous year[8] - Cash flow from operating activities was CNY 51,420,562.87, a decrease of 71.24% compared to CNY 178,781,350.46 in the same period last year[8] - The weighted average return on equity decreased to 0.36%, down 2.03 percentage points from 2.39% in the previous year[8] - The net profit attributable to shareholders for the first half of 2014 is expected to decrease by 40% to 90%, ranging from 786.22 million to 4,717.31 million yuan[21] - The net profit for the first half of 2013 was 7,862.19 million yuan, indicating a significant decline in performance[21] - The primary reason for the performance decline is attributed to the decrease in sales prices of gold and antimony products[21] - The company is expected to maintain a positive net profit, not classified as a turnaround situation[21] Asset Management - Total assets at the end of the reporting period were CNY 4,433,976,659.81, a slight decrease of 0.4% from CNY 4,451,852,168.52 at the end of the previous year[8] - Cash and cash equivalents increased by 63.18% compared to the beginning of the year, primarily due to an increase in recovered sales payments[16] - Inventory decreased by 29.24% compared to the beginning of the year, mainly due to a reduction in stock levels[16] Restructuring Initiatives - The company is actively progressing with a major asset restructuring plan, with various related tasks currently underway[17] - The company is actively promoting major asset restructuring initiatives[18] - The company held its 16th meeting of the third board of directors to approve significant asset restructuring plans[18] - The company has consistently reported progress on major asset restructuring from January to April 2014[18] Market Strategy - The company experienced a significant decrease in profit due to reduced sales volume of gold products and a decline in the selling price of antimony products, with net profit down 88.79%[16] - The company is focused on enhancing its operational performance and addressing market challenges[21] - The company has committed to avoiding competition with its major shareholder, Hunan Gold Group, since December 31, 2006, and has strictly adhered to this commitment[20] - The company has not reported any unfulfilled commitments or reasons for non-compliance[20]

Financial Performance - The company's operating revenue for the first half of 2013 was CNY 2,719,800,480.91, representing a 28.14% increase compared to CNY 2,122,505,522.01 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 74.93% to CNY 78,621,906.72 from CNY 313,567,235.99 year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses also fell by 74.14% to CNY 75,815,926.69 compared to CNY 293,227,042.16 in the previous year[23]. - Basic earnings per share dropped by 74.93% to CNY 0.0789 from CNY 0.3147 year-on-year[23]. - The total profit amounted to 0.98 billion yuan, a decrease of 72.50% compared to the previous year[29]. - The net profit attributable to shareholders was 0.79 billion yuan, down 74.93% year-on-year[29]. - The company reported a net profit range of RMB 9,477.68 million to RMB 23,694.2 million for the first nine months of 2013, compared to RMB 47,388.39 million in the same period of 2012, indicating a significant decline due to falling sales prices of gold, antimony, and tungsten products[54]. - The company’s net profit for the first half of 2013 was not explicitly stated, but the increase in revenue and costs indicates a significant operational scale[110]. - The net profit for the current period was ¥304,395,239.65, down from ¥410,812,892.09 in the previous period, reflecting a decrease of approximately 26%[115]. - The total comprehensive income for the period amounted to 410,812,890[142]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 139.31% to CNY 323,213,475.68 from CNY 135,058,078.08 in the same period last year[23]. - The company's cash and cash equivalents decreased from CNY 317,092,246.87 to CNY 180,912,200.72, representing a decline of approximately 43%[98]. - Total current assets decreased from CNY 1,991,789,273.14 to CNY 1,432,750,932.19, indicating a reduction of about 28%[98]. - The company reported a significant reduction in prepayments from CNY 201,486,228.28 to CNY 121,907,128.20, a decrease of approximately 40%[98]. - The ending balance of cash and cash equivalents was CNY 103,167,145.41, down from CNY 352,695,760.93 at the end of the previous period, indicating a decrease of approximately 70.8%[124]. - The total assets at the end of the reporting period were CNY 4,013,453,298.09, a decrease of 8.1% from CNY 4,367,338,961.18 at the end of the previous year[23]. - Current assets totaled CNY 1,831,675,856.50, a decrease of 7.4% from CNY 1,977,554,534.29 at the beginning of the year[105]. - The total liabilities decreased to CNY 1,005,124,285.00 from CNY 1,409,506,681.02, indicating improved financial stability[102]. - The company reported a decrease in retained earnings of CNY 76.64 million during the period[136]. - The total liabilities at the end of the reporting period were CNY 1.63 billion, indicating a stable financial position[136]. Production and Sales - Gold production reached 6,312 kg, an increase of 80.99% year-on-year, while antimony production was 15,274 tons, up 19.66%[28]. - Gold sales revenue accounted for 70.80% of total revenue, up 17.04 percentage points from the previous year[30]. - The company achieved a sales revenue of 2.72 billion yuan, a year-on-year increase of 28.14%[29]. - The company completed 52.30% of its annual sales revenue target of 5.2 billion yuan during the reporting period[33]. - The company’s subsidiary, Hunan Chenzhou, produced 40 kg of gold and 385 tons of antimony, achieving a revenue of RMB 2,339.36 million, with a net profit of RMB 270.84 million[50]. Investments and R&D - The company invested 718.69 million yuan in R&D, a 44.93% increase year-on-year[32]. - The company reported an investment amount of ¥51,998,157.48 during the reporting period, a decrease of 35.27% compared to the previous year's investment of ¥80,337,000.00[38]. - The company has ongoing projects in construction, with capitalized costs in construction in progress amounting to CNY 428,363,787.82, up from CNY 360,148,517.99[102]. - The company has initiated a technical transformation project at the Woxi pit with a planned total investment of RMB 20,611.33 million, with RMB 897.64 million invested in the reporting period[52]. Governance and Compliance - The company’s governance structure has been improved in compliance with relevant laws and regulations, enhancing its operational standards[61]. - The company has completed a comprehensive internal control assessment and updated its risk database, identifying the top ten risks and formulating response strategies[62]. - The company has not implemented any stock incentive plans during the reporting period[70]. - The company has not reported any significant mergers or acquisitions during this period[132]. - The company has not engaged in any major contracts or transactions during the reporting period[78]. Market and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies[132]. - Future guidance indicates a focus on improving operational efficiency and enhancing product offerings[132]. - The company did not disclose any new future development plans during the reporting period[33]. Financial Reporting and Accounting Policies - The financial report for the first half of the year was not audited[97]. - The company’s financial statements are prepared based on the assumption of continued operations, following the accounting standards issued by the Ministry of Finance[146]. - Financial assets are classified into categories including trading financial assets, financial assets measured at fair value with changes recognized in profit or loss, and available-for-sale financial assets[157]. - The company measures financial assets and liabilities at fair value upon initial recognition, with transaction costs directly recognized in profit or loss for certain categories[158]. - The company recognizes gains or losses from fair value changes of financial assets and liabilities in profit or loss, except for certain hedging transactions[161].

Financial Performance - The company achieved a revenue of CNY 5,120,618,965.26 in 2013, representing an 8.28% increase compared to CNY 4,729,093,440.65 in 2012[24]. - The net profit attributable to shareholders decreased by 61.85% to CNY 204,809,206.08 from CNY 536,862,092.96 in the previous year[24]. - The basic earnings per share for 2013 were CNY 0.21, down 61.11% from CNY 0.54 in 2012[24]. - The weighted average return on equity decreased by 13.17 percentage points to 6.85% from 20.02% in the previous year[24]. - The company achieved operating revenue of 5,120.62 million yuan, a year-on-year increase of 8.28%, while net profit attributable to shareholders decreased by 61.85% to 204.81 million yuan[39]. - The company's gross profit margin for non-ferrous metal mining was 52.41%, down 8.08% from the previous year[57]. - The revenue from gold sales was CNY 3,253,023,859.25, representing a 10.06% increase year-on-year[57]. - The company reported a total of 76,459.13 million yuan in related party transactions, with specific transactions including labor services priced at 526.55 million yuan (0.1% of total) and procurement of raw materials at 113.73 million yuan (0.05% of total)[132]. Cash Flow and Dividends - The company reported a net cash flow from operating activities of CNY 632,219,012.10, a significant increase of 104.33% compared to the previous year[24]. - The company’s cash flow from operating activities increased by 104.33% to 632.22 million yuan, while cash flow from investing activities was -494.10 million yuan, a year-on-year increase of 8.77%[39]. - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2013[5]. - The cash dividend payout ratio increased from 14.27% in 2012 to 24.32% in 2013, reflecting a stronger commitment to returning value to shareholders[115]. - The company declared a cash dividend of 0.50 CNY per share, totaling 49,813,400 CNY for the year 2013, which represents 100% of the distributable profits[117]. Production and Operations - The company produced 11,569 kg of gold in 2013, a 47.64% increase year-on-year, with self-produced gold amounting to 2,376 kg, up 3.10%[31]. - The production of antimony products reached 30,127 tons, marking a 10.79% increase, while tungsten production decreased by 2.96% to 2,086 standard tons[31]. - The company completed construction investment of 451.41 million yuan during the reporting period, with a focus on key projects such as the new tailings storage facility and heavy metal wastewater treatment[33][34]. - The company produced 11,569 kg of gold, completing 134.52% of its annual production plan, while antimony production reached 30,127 tons, completing 100.42% of the plan[41]. - The production plan for 2014 includes 12 tons of gold, 33,000 tons of antimony, and 2,600 standard tons of tungsten[99]. Risk Management - The company emphasizes the importance of accurate financial reporting, with key personnel confirming the integrity of the annual report[4]. - The company has outlined potential risks and corresponding countermeasures in the board report, indicating a proactive approach to risk management[13]. - The company has implemented strict risk control measures to mitigate liquidity and credit risks associated with its operations[82]. - The company has established a management system for gold hedging business to ensure compliance with regulations and internal controls[82]. - The company has implemented internal control pilot operations and information technology construction, enhancing risk management and operational efficiency[36]. Investments and Acquisitions - The company completed a cash capital increase of CNY 28,525,057.48 in Hunan Zhongnan Antimony Tungsten Industrial Trade Co., Ltd. to support its expanding import and export business[73]. - The company is actively promoting a major asset restructuring, with stock trading resuming on December 9, 2013, after a temporary suspension[36]. - The company plans to invest CNY 20.61 million in the technical transformation project at the Woxi pit, with CNY 2.41 million invested in the reporting period[92]. - The total capital expenditure plan for 2014 is 1.684 billion RMB, primarily for internal construction and equity acquisitions[101]. - The company is currently in the process of transferring 100% equity of a subsidiary, indicating ongoing strategic asset management[128]. Market and Competitive Landscape - The company is adapting to a changing competitive landscape in the gold industry, with a trend towards consolidation and increased market concentration[96]. - The gold industry in China saw production reach 428.16 tons in 2013, a 6.23% increase, while consumption exceeded 1,000 tons, growing by 41.36% year-on-year[95]. - The antimony and tungsten sectors are experiencing increased regulatory measures, with export quotas set at 47,778 tons for antimony and 13,582 tons for tungsten in 2014[96]. - The company plans to strengthen its market expansion efforts and improve cost control measures[101]. Corporate Governance and Management - The company has improved its corporate governance structure in compliance with relevant laws and regulations, enhancing operational standards[196]. - The board of directors has established and revised several internal control and financial management systems, with disclosures made on specific dates[196]. - The company ensures fair treatment of all shareholders during meetings, with related party transactions conducted without harming minority shareholders' interests[197]. - The company operates independently from its controlling shareholder, with no interference in decision-making processes[198]. - The board of directors is composed of more than one-third independent directors, ensuring compliance with legal requirements[199]. Employee and Workforce - The total number of employees as of December 31, 2013, was 7,123, including contract employees from subsidiaries[189]. - The company reported a total remuneration of 591.29 million CNY for directors, supervisors, and senior management during the reporting period[186]. - The company has 4,843 production personnel, 534 technical personnel, and 1,593 administrative personnel among its workforce[189]. - The educational background of employees shows that 5,471 have a high school education or below, while 594 hold a bachelor's degree[189]. - The company emphasizes employee training, implementing a comprehensive human resources plan to create a good development platform for employees' careers[193].

Financial Performance - The company achieved a revenue of CNY 5,120,618,965.26 in 2013, representing an 8.28% increase compared to CNY 4,729,093,440.65 in 2012[24]. - The net profit attributable to shareholders decreased by 61.85% to CNY 204,809,206.08 from CNY 536,862,092.96 in the previous year[24]. - The company reported a net cash flow from operating activities of CNY 632,219,012.10, a significant increase of 104.33% from the previous year[24]. - The total assets at the end of 2013 were CNY 4,451,852,168.52, a decrease of 2.33% from CNY 4,557,949,939.01 in 2012[24]. - The weighted average return on equity decreased by 13.17 percentage points to 6.85% in 2013 from 20.02% in 2012[24]. - The company achieved operating revenue of 5,120.62 million yuan, a year-on-year increase of 8.28%, while net profit attributable to shareholders decreased by 61.85% to 204.81 million yuan[39]. - The total cost of sales was CNY 3,607,899,335.19, with a year-on-year increase of 70.46%[46]. - The company received government subsidies amounting to CNY 33,298,939.61, compared to CNY 15,981,166.58 in 2012[26]. Production and Operations - The company produced 11,569 kg of gold in 2013, a 47.64% increase year-on-year, with self-produced gold amounting to 2,376 kg, up 3.10%[31]. - The production of antimony products reached 30,127 tons, marking a 10.79% increase, while tungsten production decreased by 2.96% to 2,086 standard tons[31]. - The company completed 49,896 meters of exploration drilling, leading to a net increase in resource reserves of 12%[32]. - The company holds and controls 43 mining rights, with a total resource reserve of 35.24 million tons, a year-on-year increase of 16.88%[33]. - The company plans to invest CNY 20.61 million in the technical transformation project at the Woxi pit, with CNY 2.41 million invested in the reporting period[92]. - The production plan for 2014 includes 12 tons of gold, 33,000 tons of antimony, and 2,600 standard tons of tungsten[99]. Risk Management and Governance - The company emphasizes the importance of accurate financial reporting, with key personnel affirming the completeness and truthfulness of the annual report[4]. - The company has outlined potential risks and corresponding countermeasures in the board report, indicating a proactive approach to risk management[13]. - The company has established a risk management committee to strengthen internal control and risk assessment processes[36]. - The company has established strict risk control measures to mitigate financial risks associated with its operations[78]. - The company has implemented a hedging strategy to align with its production operations, aiming to minimize price fluctuation risks[78]. - The company has improved its corporate governance structure in accordance with relevant laws and regulations, ensuring compliance with the requirements set by the China Securities Regulatory Commission[197]. Shareholder Relations and Dividends - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2013[5]. - The cash dividend payout ratio increased from 14.27% in 2012 to 24.32% in 2013, reflecting a stronger commitment to returning value to shareholders[115]. - The company declared a cash dividend of 0.50 CNY per share, totaling 49,813,400 CNY for the year 2013, which represents 100% of the distributable profits[117]. - The company is in a growth phase and plans to maintain a minimum cash dividend payout ratio of 20% in future distributions[116]. Environmental and Social Responsibility - Environmental performance improved, with a 3.53% reduction in total emissions compared to the previous year, and all wastewater discharges met national standards[118]. - The company emphasizes the importance of safety and environmental protection in its operational strategy[101]. Strategic Initiatives and Investments - The company is actively promoting a major asset restructuring, with stock trading resuming on December 9, 2013, after a temporary suspension[36]. - The company completed construction investment of 451.41 million yuan during the reporting period, with a focus on key engineering projects[34]. - The company has a complete industrial chain from mining, smelting, processing to sales, enhancing its ability to withstand price fluctuations of single products[67]. - The company has engaged CITIC Securities as a financial advisor for significant asset restructuring, with no fees paid during the period[147]. Market and Competitive Landscape - The gold industry in China saw production reach 428.16 tons in 2013, a 6.23% increase, while consumption exceeded 1,000 tons, growing by 41.36% year-on-year[95]. - The antimony and tungsten sectors are experiencing increased regulatory measures, with export quotas set at 47,778 tons for antimony and 13,582 tons for tungsten in 2014[96]. - The company is adapting to a changing competitive landscape in the gold industry, with a trend towards consolidation among larger firms[96]. Human Resources and Management - The total number of employees as of December 31, 2013, is 7,123, including 4,843 production personnel and 534 technical personnel[190]. - The company has a professional composition of employees, with 5,471 having a high school education or below, and only 15 holding a master's degree[190]. - The management team has extensive experience in the mining industry, with key members having held significant roles in other companies[178][179]. - The company emphasizes employee training, implementing a comprehensive human resources plan to create a good development platform for employees' careers[194].