证券代码：002237 证券简称：恒邦股份 山东恒邦冶炼股份有限公司 2019 年 6 月 4 日投资者关系活动记录表 编号：2019-002 | --- | --- | --- | |----------------|----------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | R | 特定对象调研 £分析师会议 | | 类别 | □媒体采访 £业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □现场参观 | | | | □ 其他 | | | 参与单位名称及 | 嘉实基金 吴云峰 | | | 人员姓名 | 嘉实基金 余 懿 | | | 时间 | 2019 年 6 月 4 | 日下午 15:00 | | 地点 | 恒邦股份 1 | 号办公楼二楼第一会议室 | | 上市公司接待人 | 董事会秘书 夏晓波 | | | 员姓名 | 证券专员 李宜佳 | | | 投资者关系活动 | | 一、公司董秘带投资者参观公司展厅、介绍公司发展历程、 | | 主 ...

编号：2022-002 证券代码：002237 证券简称：恒邦股份 山东恒邦冶炼股份有限公司 2022 年 11 月 23 日投资者关系活动记录表 | --- | --- | --- | |-------------------------|---------------------------|--------------------------------------------------------------------------| | 投资者关系活 | | 特定对象调研 □分析师会议 | | 动类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称 及人员姓名 | 长江证券 叶如祯 | | | | | | | 时间 2022 | 年 11 月 23 日 | | | 地点 公司 | | | | 上市公司接待 | 董事会秘书 夏晓波 | | | 人员姓名 | 证券专员 李宜佳 | 一、公司董秘带投资者参观公司展厅、厂区、介绍公司发展历程、产品 | | | 展示及业务布局等情况。 | 山东恒邦冶炼股份有 ...

证券代码：002237 证券简称：恒邦股份 公告编号：2022-063 山东恒邦冶炼股份有限公司 关于参加山东辖区上市公司2022年度 投资者网上集体接待日活动的公告 | --- | --- | --- | |-------|----------------------------|----------------------------------------------------------------------------------------| | | | | | | 本 | 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 | | | 载、误导性陈述或重大遗漏。 | | | | | 为进一步加强与投资者的沟通交流，切实提高公司透明度、规范运作和治理水 | | | | 平，山东恒邦冶炼股份有限公司（以下简称"公司"）将于 2022 年 11 月 16 日（星 | | | 期三）下午 14:00—16:00 | 参加由山东证监局、山东上市公司协会联合举办的"山东 | | | 辖区上市公司 2022 | 年度投资者网上集体接待日"活动，现将有关事项公告如下： | | | | 本次投 ...

Financial Performance - Revenue for Q3 2022 reached ¥13,095,723,026.80, an increase of 25.01% year-over-year[6] - Net profit attributable to shareholders was ¥139,228,422.28, up 19.86% compared to the same period last year[6] - Net profit for the period was ¥389,762,674.48, representing a growth of 18.3% from ¥329,631,284.80 in the same period last year[39] - The net profit attributable to the parent company shareholders for the current period is approximately ¥404.69 million, an increase from ¥348.98 million in the previous period, representing a growth of about 15.99%[41] - The total comprehensive income attributable to the parent company owners is approximately ¥414.38 million, compared to ¥364.00 million in the previous period, reflecting an increase of around 13.87%[41] Cash Flow - Cash flow from operating activities for the year-to-date increased by 102.47% to ¥1,596,642,638.83[6] - The net cash flow from operating activities for the current period is approximately ¥1.60 billion, compared to ¥788.60 million in the previous period, showing an increase of about 102.00%[46] - Cash inflow from operating activities totaled approximately ¥38.35 billion, an increase from ¥33.93 billion in the previous period, representing a growth of about 13.00%[46] - The cash flow from investing activities generated a net inflow of approximately ¥40.98 million, a significant improvement from a net outflow of ¥592.72 million in the previous period[46] - The cash flow from financing activities resulted in a net inflow of approximately ¥631.25 million, down from ¥2.45 billion in the previous period, indicating a decrease of about 74.19%[46] - The company reported a significant increase in cash received from tax refunds, totaling approximately ¥533.92 million, compared to ¥130.90 million in the previous period, indicating a growth of about 308.00%[46] Assets and Liabilities - Total assets at the end of the period were ¥21,166,321,103.31, reflecting a 9.04% increase from the end of the previous year[6] - Total assets increased to ¥21,166,321,103.31, up from ¥19,411,932,567.00, reflecting a growth of 9.0%[38] - Total liabilities rose to ¥13,041,634,291.85, compared to ¥11,638,620,190.00, marking an increase of 12.1%[38] - As of September 30, 2022, the company's total current assets amounted to approximately CNY 15.84 billion, an increase from CNY 13.88 billion at the beginning of the year, reflecting a growth of about 14.1%[33] - The total accounts receivable increased to CNY 31.35 million from CNY 21.33 million, marking a growth of approximately 47.1%[33] Equity and Shareholder Information - The company’s total equity attributable to shareholders increased by 4.69% to ¥8,178,160,888.65[6] - The company's total equity attributable to shareholders increased to ¥8,178,160,888.65, up from ¥7,811,709,218.21, indicating a growth of 4.7%[38] - The number of ordinary shareholders at the end of the reporting period was 59,427[26] - The company reported a total of 273,028,960 shares held by Jiangxi Copper Co., Ltd., making it the largest shareholder[29] Research and Development - R&D expenses increased by 63.05% year-over-year, indicating a focus on innovation[23] - Research and development expenses amounted to ¥140,337,166.93, which is a significant increase of 62.9% from ¥86,068,440.86 in the previous period[39] Investment and Market Strategy - Investment income rose by 142.71% compared to the same period last year, driven by increased profits from commodity futures contracts[24] - The company reported a 192.30% increase in fair value gains compared to the previous year, attributed to changes in foreign exchange hedging[25] - The company plans to raise CNY 3.16 billion through the issuance of convertible bonds to invest in a multi-metal mineral resource recovery technology project and to supplement working capital[32] - The company has completed the submission of convertible bond application materials to the China Securities Regulatory Commission, which has accepted the application[32] - The company is actively exploring market expansion opportunities and new technology developments to enhance its competitive position in the industry[31] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[39] Inventory and Fixed Assets - The company's inventory was reported at CNY 8.00 billion, a decrease from CNY 8.78 billion, representing a decline of about 8.8%[33] - The long-term equity investments were reported at CNY 320.61 million, slightly down from CNY 331.59 million, indicating a decrease of about 3.0%[33] - The fixed assets decreased to CNY 3.73 billion from CNY 4.05 billion, reflecting a decline of approximately 7.9%[33]

Financial Performance - The company's operating revenue for 2018 was CNY 21,200,957,294.27, representing a 7.21% increase compared to CNY 19,523,377,854.76 in 2017[21] - Net profit attributable to shareholders was CNY 405,768,244, an increase of 1.92% from CNY 360,956,311 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 380,619,101.66, a decrease of 16.72% from CNY 456,225,619.46 in 2017[21] - The net cash flow from operating activities increased by 45.62% to CNY 1,157,063,713.28 from CNY 695,361,164.70 in 2017[21] - Total assets at the end of 2018 were CNY 14,919,932,928.41, an increase of 11.06% from CNY 12,930,336,639.57 at the end of 2017[23] - The company's basic earnings per share for 2018 was CNY 0.45, up from CNY 0.40 in 2017, reflecting a 2.27% increase[21] - The weighted average return on equity was 8.70%, a decrease of 0.40% from 9.02% in the previous year[21] Revenue Breakdown - The company's total operating revenue for Q1 2018 was ¥4,613,074,425.36, with Q2 at ¥5,790,200,518.66, Q3 at ¥4,509,801,562.53, and Q4 at ¥6,287,880,787.72[32] - The mining and smelting of non-ferrous metals contributed ¥18,167,290,041.07, accounting for 85.69% of total revenue, with a decrease of 1.64% compared to the previous year[72] - Sales of mineral powder surged by 95.22% to ¥1,106,399,996.73, increasing its share of total revenue to 5.22%[68] - Revenue from other businesses skyrocketed by 611.24% to ¥1,386,208,834.13, now representing 6.54% of total revenue[68] - Gold sales amounted to ¥7,963,928,237.75, a decline of 6.08% year-over-year, contributing 37.56% to total revenue[72] - Electrolytic copper revenue was ¥6,123,251,368.87, down 2.67% from the previous year, accounting for 28.88% of total revenue[70] Production and Operations - The main products include gold, silver, electrolytic copper, and lead, with gold being the primary revenue source[39] - The company achieved a gold production of 426.14 tons in 2017, a decrease of 27.34 tons or 6.03% compared to 2016, marking the first annual decline exceeding 5% since 1974[51] - Gold production in 2018 was 37.94 tons, a decrease of 1.45% from the previous year, while silver production was 539.77 tons, down 2.01%[65] - The company operates eight smelting production lines with an annual capacity of 50 tons of gold and 700 tons of silver, alongside a sulfuric acid production capacity of 1 million tons[56] Research and Development - The company has maintained a research and development investment ratio of over 3% of its operating income in recent years, indicating a strong commitment to innovation[53] - The company has successfully developed and patented nine invention patents, including methods for extracting elements from complex gold concentrates and treating waste from wet gold smelting[55] - Research and development expenses increased by 32.50% year-on-year, primarily due to new R&D project costs[103] - R&D investment amounted to ¥665,622,788.32 in 2018, a decrease of 2.45% compared to ¥682,369,898.86 in 2017, with R&D expenditure accounting for 3.14% of operating revenue[105] Strategic Goals and Future Outlook - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming fiscal year[68] - The company aims to enhance its core competitiveness through deep processing of raw materials and accelerate the development of high-purity new material technology[168] - The strategic goal includes achieving comprehensive recovery of precious metals and valuable elements, focusing on vertical integration and related diversification[156] - The company will strengthen its mining foundation to increase self-produced gold output, leveraging favorable exploration results[158] Environmental and Regulatory Compliance - The company will enhance environmental management and invest in clean production to comply with stricter environmental standards[162] - The company is committed to maintaining compliance with regulatory requirements in its operational activities[137] Risks and Challenges - The company has outlined potential risks and countermeasures in its future development outlook section[4] - The company faces risks related to exploration and mining policies, which may limit resource acquisition and operational flexibility[159] Acquisitions and Investments - The company completed the acquisition of Hangzhou Jiantong Group Co., Ltd. for ¥485 million, with the merger date on October 18, 2018[94] - The company established two new subsidiaries in 2018, with a registered capital of ¥10 million each, and included them in the consolidated financial statements[89] Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company reported a net profit of 405,768,244.34 in 2018, with no cash dividends distributed that year[178]

Financial Performance - The company reported a total revenue of 910.4 million CNY for the year 2019, with a cash dividend of 0.3 CNY per 10 shares distributed to all shareholders[7]. - The company's operating revenue for 2019 was ¥28,536,077,559.21, representing a 34.60% increase compared to ¥21,200,957,294.27 in 2018[25]. - The net profit attributable to shareholders for 2019 was ¥305,536,032.49, a decrease of 24.70% from ¥405,768,244.34 in 2018[25]. - The net cash flow from operating activities decreased by 55.39% to ¥516,218,867.51 from ¥1,157,063,713.28 in 2018[25]. - The basic and diluted earnings per share for 2019 were both ¥0.34, down 24.44% from ¥0.45 in 2018[25]. - The total assets at the end of 2019 were ¥16,140,794,194.52, an increase of 8.18% from ¥14,919,932,928.41 at the end of 2018[25]. - The net assets attributable to shareholders at the end of 2019 were ¥4,658,175,632.22, a 6.92% increase from ¥4,356,631,770.73 at the end of 2018[25]. - The company reported a total of ¥30,438,173.89 in government subsidies for 2019, compared to ¥16,589,326.64 in 2018[36]. - The company’s operating profit for 2019 was CNY 39,109.71 million, a decrease of 21.10% from the previous year, while net profit attributable to shareholders was CNY 30,553.6 million, down 24.70%[59]. - The company achieved a net profit attributable to shareholders of 305,536,032.49 CNY for the year 2019, with a total distributable profit of 2,571,584,251.30 CNY after accounting for statutory surplus reserves[130]. Shareholder Information - A cash dividend of 0.3 CNY per share (including tax) is proposed, amounting to an estimated distribution of 27.31 million CNY, based on a total share capital of 910,400,000 shares as of December 31, 2019[130]. - The cash dividend for 2019 was set at CNY 0.30 per 10 shares, with a total cash dividend amounting to CNY 27,312,000, representing 8.94% of the net profit attributable to shareholders[135]. - The total distributable profit at the end of 2019 was CNY 2,571,584,251.30, after accounting for the net profit of CNY 305,536,032.49 and the statutory surplus reserve of CNY 25,702,527.17[140]. - The company’s cash dividend in 2019 was fully distributed from the profit allocation, with no other forms of cash distribution such as share buybacks[136]. Business Operations - The company has not changed its main business since its listing, maintaining a focus on smelting operations[23]. - The company’s main business includes gold exploration, mining, and smelting, with a focus on precious metal recovery and resource utilization[39]. - The company has established a complete gold industry chain, covering exploration, mining, smelting, refining, and deep processing, which supports sustainable development and reduces profit volatility[50]. - The company has shifted its procurement model to combine trade and direct mining purchases, establishing overseas subsidiaries in countries like Peru and Ecuador[40]. - The company has achieved advanced production technology, particularly in processing complex gold concentrates, recognized with multiple national awards[47]. - The company has developed proprietary technologies for high-efficiency recovery of valuable elements and disposal of harmful elements, benefiting from stricter environmental policies[47]. - The company aims to enhance its gold smelting business and improve multi-metal recovery capabilities, focusing on the comprehensive recovery of precious metals and valuable elements like copper and zinc[119]. - The company plans to strengthen its mining foundation by increasing self-produced gold output and enhancing resource efficiency through key mining project developments[119]. Risk Management - The company has outlined potential risk factors and corresponding countermeasures in the section discussing future development[6]. - The company’s future plans and strategic developments are subject to market risks, which investors should be aware of[6]. - Risks identified include exploration and mining risks, with measures to strengthen talent teams and improve resource exploration planning to mitigate these risks[120]. - The company faces product price volatility risks, particularly in gold and silver, and plans to implement hedging strategies to manage inventory price risks[120]. - Environmental risks are acknowledged, with commitments to enhance environmental management and invest in clean production technologies to comply with stricter regulations[123]. - The company is focused on increasing its self-supply capacity of gold concentrate and establishing long-term supplier relationships to mitigate raw material supply risks[123]. Research and Development - Research and development expenses increased by 7.05% to ¥712,544,832.00 in 2019, accounting for 2.50% of operating revenue[87]. - The company completed 13 out of 16 key R&D projects in 2019, with significant advancements in resource recycling technologies[87]. - The company has established a provincial-level enterprise technology center and collaborates with universities to advance research and development[48]. Related Party Transactions - The company engaged in related party transactions, with a total transaction amount of 689.7 million yuan for procurement of chemicals[180]. - The company also reported related party transactions for the procurement of liquid alkali and sulfuric acid, totaling 817.7 million yuan and 690.2 million yuan respectively[180]. - The company emphasizes transparency and fairness in its pricing strategies for related party transactions[197]. Market Expansion and Future Outlook - Future strategies may include further market expansion and potential acquisitions to enhance production capabilities and market reach[79]. - The company is focusing on expanding its market presence through strategic acquisitions and enhancing its product offerings in the mining and chemical sectors[115]. - Future outlook includes leveraging rising commodity prices and expanding into new markets to drive revenue growth[115]. - Key initiatives for 2020 include optimizing market operations, enhancing safety and environmental practices, and upgrading internal controls to improve efficiency and risk management[124].

Financial Performance - The company's operating revenue for 2021 was ¥41,382,878,466.59, representing a year-over-year increase of 14.78% from ¥36,053,110,407.67 in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥454,817,448.22, up 24.16% from ¥366,302,529.81 in 2020[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥596,173,798.03, an increase of 28.77% compared to ¥462,974,937.46 in 2020[23]. - The net cash flow from operating activities reached ¥473,588,014.86, a significant increase of 144.74% from ¥193,506,524.10 in 2020[23]. - The basic and diluted earnings per share for 2021 were both ¥0.40, reflecting a 5.26% increase from ¥0.38 in 2020[23]. - The total assets at the end of 2021 were ¥19,411,932,567.00, representing an 8.52% increase from ¥17,888,036,639.43 at the end of 2020[26]. - The net assets attributable to shareholders at the end of 2021 were ¥7,811,709,218.21, up 4.28% from ¥7,490,782,754.48 at the end of 2020[26]. - The company reported a weighted average return on equity of 5.96% for 2021, down from 6.72% in 2020[26]. Business Operations - The company has not changed its main business since its listing, maintaining its focus on smelting operations[21]. - The company's main business includes gold mining, precious metal smelting, high-tech material R&D, and international trade, with a focus on gold smelting and comprehensive recovery[42]. - The company primarily produces gold, silver, electrolytic copper, lead, zinc ingots, and sulfuric acid, with gold and silver being the main products[44]. - The company has established a procurement model that combines direct mining purchases and trade, enhancing control over raw material channels and reducing costs[45]. - The sales model for precious metals includes selling gold through the Shanghai Gold Exchange and silver through long-term contracts[46]. - The company has developed a strong competitive edge through advanced technology in processing complex gold concentrates, achieving high recovery rates[49]. - The company has successfully implemented projects for comprehensive recovery of complex gold concentrates, enhancing processing efficiency and recovery rates[49]. Research and Development - The company has developed 13 invention patents and 18 utility model patents, showcasing its commitment to innovation in metallurgy and resource recycling[50]. - Research and development expenses increased by 30.62% to ¥135,344,216.27, reflecting higher investment in R&D[99]. - The number of R&D personnel increased by 27.10% from 487 in 2020 to 619 in 2021[106]. - R&D investment amounted to ¥1,083,932,600.61 in 2021, a 13.89% increase from ¥951,716,940.16 in 2020[106]. Market and Revenue Insights - Gold production in 2021 was 39.60 tons, a decrease of 17.33% compared to the previous year, while silver production was 757.2 tons, down 5.53%[58]. - Gold revenue decreased by 15.13% to CNY 14,703,956,354.15, accounting for 35.53% of total revenue, while silver revenue increased by 30.03% to CNY 4,056,376,666.37, representing 9.80% of total revenue[67]. - Electrolytic copper revenue surged by 89.58% to CNY 12,011,108,585.66, making up 29.02% of total revenue[67]. - The company's revenue from phosphate and other fertilizers reached approximately ¥311.37 million, representing a year-over-year increase of 14.71%[72]. - Lead revenue amounted to approximately ¥1.19 billion, with a growth of 8.32% compared to the previous year[72]. - The sales of zinc, antimony, bismuth, selenium, and other metals surged to approximately ¥458.68 million, marking a significant increase of 40.68%[72]. Financial Management - The company reported a significant reduction in electrolytic lead inventory by 87.51% compared to the previous period, influenced by market condition adjustments[82]. - The total procurement amount from the top five suppliers was ¥9,394,155,851.10, representing 24.22% of the annual total procurement[98]. - The company issued medium-term notes, resulting in a 100% increase in bonds payable to 505,150,684.93, which constitutes 2.60% of total liabilities[121]. - The company reported a net loss from investment income of ¥145,006,594.63, accounting for -29.42% of total profit[111]. Corporate Governance - The company has established a complete and independent internal management system, ensuring no interference from the controlling shareholder in its operations[195]. - The company maintains an independent financial department with its own accounting system and bank accounts, ensuring financial autonomy[196]. - The company has a dedicated internal audit department to oversee financial operations and prevent risks, enhancing governance standards[194]. - The company has implemented a transparent information disclosure system, regularly updating investors on significant operational matters[194]. - The board of directors consists of 9 members, including 3 independent directors with expertise in industry, finance, and law, complying with regulatory requirements[191]. Strategic Initiatives - The company aims to enhance its gold smelting business and improve the comprehensive recovery of valuable elements, targeting vertical integration and related diversification as strategic goals[165]. - Future strategies include expanding mining operations and increasing self-produced gold output to enhance resource efficiency and support sustainable development[166]. - The company plans to focus on high-purity materials manufacturing, targeting the production of high-purity arsenic, antimony, bismuth, tellurium, and related compounds[166]. - The company will implement risk control measures across trading, futures, hedging, investment, and financing to prevent systemic risks, particularly focusing on safety and environmental risks[179].

Financial Performance - The company reported a total revenue of 1,148,014,400.00 CNY for the year 2020, with a cash dividend of 0.75 CNY per 10 shares distributed to shareholders[6]. - The company's operating revenue for 2020 was ¥36,053,110,407.67, representing a year-over-year increase of 26.34% compared to ¥28,536,077,559.21 in 2019[24]. - The net profit attributable to shareholders for 2020 was ¥3,605,311,040.77, up 26.34% from ¥2,856,077,559.21 in 2019[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥462,974,937.46, a 15.97% increase from ¥399,225,648.17 in 2019[24]. - The company's cash flow from operating activities decreased by 62.51% to ¥193,506,524.10 from ¥516,218,867.51 in 2019[24]. - The total assets at the end of 2020 were ¥17,888,036,639.43, reflecting a 10.83% increase from ¥16,140,794,194.52 at the end of 2019[27]. - The net assets attributable to shareholders increased by 60.81% to ¥7,490,782,754.48 from ¥4,658,175,632.22 in 2019[27]. - The basic and diluted earnings per share for 2020 were both ¥0.38, an increase of 11.76% from ¥0.34 in 2019[24]. - The weighted average return on equity for 2020 was 6.72%, slightly down from 6.78% in 2019[24]. - The company reported a net loss from non-operating activities of ¥96,672,407.65 in 2020, compared to a loss of ¥93,689,615.68 in 2019[35]. Business Operations - The company has not changed its main business since its listing, maintaining a focus on smelting operations[22]. - The controlling shareholder changed from Yantai Humon Group Co., Ltd. to Jiangxi Copper Corporation in 2019, indicating a shift in ownership structure[22]. - The company continues to strengthen its core technology in precious metal smelting and comprehensive recovery, enhancing production efficiency[41]. - The company's main profit source comes from gold mining and precious metal smelting, with smelting being the core profit business[42]. - The company has established four trading subsidiaries to ensure domestic raw material supply, and has expanded overseas procurement to countries like Greece, Turkey, and Russia[42]. - The company has developed advanced production processes, including the core technology of arsenic treatment, which has achieved international standards[48]. - The company aims to enhance direct procurement from overseas mines to improve control over raw material channels and reduce costs[42]. - The company has a comprehensive capability in precious metal smelting, particularly in complex ore processing, with several technologies being internationally leading[47]. - The company has increased its construction projects by 87.65% due to ongoing underground engineering and office property developments[51]. - The company has established a comprehensive recovery system for gold, silver, copper, lead, zinc, and other minor metals, achieving a high recovery rate through a closed-loop recycling process[56]. Research and Development - The company has a total of 10 invention patents and 12 utility model patents, enhancing its technological capabilities in the industry[56]. - The company has established a provincial-level technology center and collaborated with universities to enhance its research and development capabilities[56]. - The company completed 7 out of 10 planned key R&D projects in 2020, with 3 projects achieving industrialization[99]. - The company received 4 patents from the National Intellectual Property Administration, including 1 invention patent, and had 6 patents accepted[99]. - Total R&D investment rose by 33.57% to ¥951,716,940.16, accounting for 2.64% of operating revenue[100]. Market and Sales - The company achieved a gold production of 47.90 tons and silver production of 801.54 tons in 2020, with an electrolytic copper output of 154,200 tons[57]. - The sales volume of gold increased by 30.99% year-on-year, driven by higher production and improved material quality[79]. - The production volume of silver rose by 31.64%, attributed to increased material content and higher capacity utilization[82]. - The production volume of electrolytic copper increased by 30.00%, reflecting enhanced capacity utilization in the electrolytic system[82]. - Domestic revenue accounted for 88.91% of total revenue, amounting to CNY 32,054.21 million, while foreign revenue decreased by 32.73% to CNY 3,998.90 million[72]. Financial Management - The company completed a private placement raising CNY 2.5 billion, significantly improving liquidity and reducing the debt-to-asset ratio[65]. - The company's bank credit limit increased from CNY 14.22 billion at the end of 2019 to CNY 20.66 billion by the end of 2020, with a significant reduction in the overall interest rate[65]. - The total amount raised from the non-public issuance of A-shares in 2020 was CNY 250,445.58 million, with all funds utilized by the end of the reporting period[131]. - The company allocated CNY 200,000.00 million of the raised funds to repay interest-bearing loans, and the remaining amount was used to supplement working capital[137]. - The company reported a significant increase in other receivables by 19.30% to ¥485,121,085.38, representing 2.71% of total assets[110]. Risk Management - The company has engaged Heshin Certified Public Accountants for auditing services, ensuring compliance and accuracy in financial reporting[23]. - The company has identified potential risk factors in its future operations and has proposed measures to mitigate these risks[6]. - The company has established a comprehensive risk control mechanism for its hedging activities, focusing on market, liquidity, credit, and operational risks[129]. - The company aims to lock in expected profits and mitigate operational risks through its hedging activities[129]. Corporate Governance - The governance structure has been enhanced to ensure clear decision-making and effective supervision, aligning with international standards for mining and metallurgy companies[174]. - The company has committed to not engaging in actions that would harm the interests of minority shareholders during its control of the listed company[184]. - The company has established an independent financial department and accounting system, ensuring compliance with financial management regulations[190]. - The company has pledged to maintain the independence of its senior management, ensuring they do not hold positions or receive salaries from other controlled entities[190]. Future Outlook - The company plans to continue expanding its market presence and enhancing production efficiency in the upcoming year[81]. - The company is actively developing several reserve projects as part of its "14th Five-Year Plan," indicating a focus on future growth and sustainability[64]. - The company aims to enhance its competitive edge in the international raw material market through technological innovation and project construction[167]. - The company plans to expand its resource holdings through mergers and acquisitions in the mining sector[168].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 21,441,670,177.61, an increase of 0.46% compared to CNY 21,342,819,771.39 in the same period last year[25]. - Net profit attributable to shareholders of the listed company reached CNY 265,457,646.23, representing a growth of 14.02% from CNY 232,821,234.64 year-on-year[25]. - The net profit after deducting non-recurring gains and losses was CNY 256,346,404.44, which is a decrease of 21.79% compared to CNY 327,770,664.10 in the previous year[25]. - The net cash flow from operating activities was CNY 1,489,587,664.30, a significant increase of 953.13% from a negative cash flow of CNY -174,601,826.55 in the same period last year[25]. - Basic earnings per share rose to CNY 0.23, up 15.00% from CNY 0.20 in the previous year[25]. - Total assets at the end of the reporting period were CNY 20,949,394,744.53, reflecting a growth of 7.92% from CNY 19,411,932,567.00 at the end of the previous year[25]. - Net assets attributable to shareholders of the listed company increased to CNY 8,035,018,491.11, a rise of 2.86% from CNY 7,811,709,218.21 at the end of the previous year[25]. - The weighted average return on net assets was 3.34%, an increase of 0.27% compared to 3.07% in the previous year[25]. Operational Highlights - The company focuses on gold mining, precious metal smelting, and high-tech material R&D, with significant improvements in production efficiency due to technological advancements[33]. - Major products include gold, silver, electrolytic copper, lead, and zinc, with gold and silver being the primary revenue contributors[33]. - The company has shifted its procurement strategy to combine trading and direct sourcing from mines, enhancing control over raw material costs[34]. - The sales model for precious metals includes selling gold through the Shanghai Gold Exchange and silver via long-term contracts[36]. - The company aims to expand its international procurement network, having established connections in countries like Peru, Ecuador, and Australia[34]. - The company’s core profit comes from precious metal smelting, with a focus on maximizing resource recovery from complex ores[33]. - The company operates in the "C322 - Precious Metal Smelting" sector of the non-ferrous metal smelting and rolling processing industry[36]. Research and Development - The company has achieved international advanced levels in gold production technology, particularly in processing complex multi-element gold concentrates, and has received multiple national and provincial awards for technological progress[39]. - The company has obtained 16 invention patents and 20 utility model patents, with one invention patent winning the China Patent Excellence Award[43]. - The company has established a provincial-level enterprise technology center and several research stations to enhance its research and development capabilities[43]. - The company has invested in energy-saving and emission-reduction technology research, aiming to improve product recovery rates and reduce resource consumption[132]. Environmental Management - The company has implemented various pollution control measures, including a dual-bottom blowing method for gold extraction, which effectively reduces SO2 emissions[118]. - The company operates an online monitoring system connected to environmental authorities to ensure real-time compliance with emission standards[121]. - The company has established a comprehensive recovery system for complex gold concentrates, which includes advanced pollution control technologies[121]. - The company has implemented comprehensive wastewater treatment measures, ensuring that all treated wastewater is reused in production without discharge[123]. - The company has effectively managed hazardous waste, including electric dust, sulfurized slag, and waste vanadium catalysts, in compliance with regulations[124]. - The company has established a three-tier environmental safety control system focusing on prevention, combining source, process, and end control measures[127]. - The company emphasizes environmental protection, aiming for a 100% compliance rate for construction project standards and stable operation of environmental protection facilities[132]. Risk Management - The management discussion and analysis section highlights potential risks and countermeasures for future operations[4]. - The company faces exploration and mining risks due to government regulations limiting the expansion of mining areas, which may hinder the search for backup resources[90]. - The company is exposed to product price fluctuation risks, particularly in gold and silver, which can significantly impact inventory value and cash flow[91]. - The company will implement hedging measures to effectively reduce inventory depreciation risks[91]. - Environmental risks are present due to the nature of gold production, which generates waste that must be managed according to national policies[92]. - The company relies heavily on external suppliers for gold concentrate, which poses a risk if exploration and mining do not progress as planned[93]. Shareholder and Corporate Governance - The company emphasizes shareholder rights protection and adheres to legal regulations to ensure fair information disclosure[129]. - The company prioritizes employee rights and continuously improves working conditions and training opportunities for staff[129]. - The company actively engages with investors through various communication channels to enhance transparency and trust[129]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[136]. - There were no major litigation or arbitration matters reported during the period[140]. - The company has not engaged in any non-compliance external guarantees during the reporting period[137]. Financial Position - The company's cash and cash equivalents increased by 53.98% to 5,537,451,801.66, representing 26.43% of total assets[61]. - The company reported an investment income of 5,959,100.58, accounting for 1.90% of total profit[60]. - The company has confirmed gold resource reserves of 150.38 tons, enhancing its self-sufficiency in raw materials[47]. - The company has established a production capacity of 50 tons of gold, 1,000 tons of silver, 250,000 tons of electrolytic copper, and 1.3 million tons of sulfuric acid annually[46]. - The company reported a total revenue of 229.94 million yuan for the period[155]. Employee Engagement - The employee stock ownership plan includes 942 employees holding a total of 5.0761 million shares, representing 0.44% of the company's total equity[102].

Financial Performance - The company reported a total revenue of 1,148,014,400.00 CNY for the year 2020, with a cash dividend of 0.75 CNY per 10 shares distributed to shareholders[6]. - The company's operating revenue for 2020 was CNY 36,053,110,407.67, representing a year-over-year increase of 26.34% from CNY 28,536,077,559.21 in 2019[24]. - The net profit attributable to shareholders for 2020 was CNY 366,302,529.81, up 19.89% from CNY 305,536,032.49 in 2019[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 462,974,937.46, a 15.97% increase from CNY 399,225,648.17 in 2019[24]. - The basic earnings per share for 2020 was CNY 0.38, an increase of 11.76% from CNY 0.34 in 2019[24]. - The diluted earnings per share for 2020 was also CNY 0.38, reflecting the same percentage increase as the basic earnings per share[24]. - The weighted average return on equity for 2020 was 10.97%, up from 8.75% in 2019[24]. - The company's net profit attributable to shareholders was CNY 366.30 million, reflecting a growth of 19.89% compared to the previous year[63]. - The company achieved a gold production of 47.90 tons and silver production of 801.54 tons in 2020, with an electrolytic copper output of 154,200 tons[57]. Ownership and Governance - The controlling shareholder changed from Yantai Humon Group Co., Ltd. to Jiangxi Copper Corporation in 2019, indicating a shift in ownership structure[22]. - The company operates under the supervision of the Jiangxi Provincial State-owned Assets Supervision and Administration Commission, ensuring alignment with state policies[11]. - The company emphasizes the importance of accurate financial reporting and has declared that the financial statements are true, accurate, and complete[5]. - The company is committed to enhancing corporate governance and improving information disclosure quality to foster a transparent and responsible corporate image[175]. - The company guarantees that all assets are independently owned and operated, ensuring no illegal occupation of funds or assets by controlling entities[190]. - The company has established an independent financial department and accounting system, ensuring compliance with financial management regulations[190]. Risk Management - The company has outlined potential risks and countermeasures in its future development outlook, highlighting the importance of risk management[6]. - The company has established a comprehensive risk control mechanism for its hedging activities, focusing on market, liquidity, credit, and operational risks[127]. - The company faces exploration and mining risks due to government regulations limiting mining areas, which may affect resource acquisition[159]. - The company will strengthen its talent team and improve resource exploration planning to mitigate exploration risks[160]. Production and Operations - The company has established four trading subsidiaries to ensure domestic raw material supply, and has expanded overseas procurement to countries like Greece, Turkey, and Russia[42]. - The company has developed advanced gold production technology, particularly in processing complex multi-element gold concentrates, achieving international advanced and domestic leading levels[52]. - The company has established a comprehensive recovery system for complex gold concentrates, achieving high recovery rates for multiple elements including Au, Ag, Cu, Pb, and Zn[56]. - The company has implemented a series of technological transformation projects to enhance gold recovery rates and reduce material consumption[56]. - The company has eliminated the use of wet gold extraction systems, significantly reducing environmental risks associated with cyanide tailings[58]. - The company plans to continue expanding its direct procurement from overseas mines to enhance control over raw material channels and reduce costs[42]. Financial Stability and Investments - The company has a registered capital of 1,148,014,400.00 CNY, reflecting its financial stability and capacity for growth[6]. - The total assets at the end of 2020 were CNY 17,888,036,639.43, reflecting a 10.83% increase from CNY 16,140,794,194.52 at the end of 2019[27]. - The net assets attributable to shareholders increased by 60.81% to CNY 7,490,782,754.48 from CNY 4,658,175,632.22 in 2019[27]. - The company completed a private placement raising CNY 2.5 billion, significantly improving liquidity and reducing the debt-to-asset ratio[65]. - The bank credit limit increased from CNY 14.22 billion at the end of 2019 to CNY 20.66 billion by the end of 2020, with a notable decrease in the comprehensive interest rate[65]. - The company made a significant equity investment of CNY 397.5 million, acquiring a 100% stake in Shandong Hengbang Mining Development Co., Ltd. for long-term operations[118]. Research and Development - The company has established a provincial-level technology center and multiple research stations to enhance its R&D capabilities[56]. - The company completed 7 out of 10 planned key R&D projects in 2020, with 3 projects achieving industrialization[99]. - R&D expenses increased by 66.93% to ¥103,617,758.08, primarily due to increased investment in key technology and equipment development projects[98]. - Total R&D investment rose by 33.57% to ¥951,716,940.16, accounting for 2.64% of operating revenue[100]. Shareholder Relations and Dividends - The company proposed a cash dividend of CNY 0.75 per 10 shares (including tax), amounting to a total distribution of CNY 86,101,080.00, which represents 23.51% of the net profit[175][179]. - The cash dividend policy was executed in compliance with the company's articles of association and shareholder resolutions, ensuring transparency and protection of minority shareholders' rights[176]. - The company aims to share its operational achievements with shareholders while ensuring normal operations and long-term development[175]. - The company has not engaged in any share buybacks or other forms of capital distribution aside from cash dividends during the reporting period[180]. Market and Sales - Domestic revenue accounted for 88.91% of total revenue, amounting to CNY 32,054.21 million, while foreign revenue decreased by 32.73% to CNY 3,998.90 million[72]. - The sales volume of gold increased by 30.99% year-on-year, driven by higher production and improved material quality[79]. - The production volume of silver rose by 31.64%, attributed to increased material silver content and higher utilization rates of the electrolysis system[82]. - The production volume of electrolytic copper increased by 30.00%, reflecting enhanced capacity utilization in the electrolysis system[82]. - The total sales amount from the top five customers reached ¥24,162,884,309.45, accounting for 67.02% of the annual sales[93]. - The top customer, Shanghai Gold Exchange, contributed ¥17,606,764,538.93, representing 48.84% of total sales[93].