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].

Corporate Structure and Governance - The company has not changed its main business since its listing [21]. - The controlling shareholder changed from Yantai Humon Group Co., Ltd. to Jiangxi Copper Corporation in 2019 [21]. - The company is headquartered in Yantai, Shandong Province, with a registered address in Shidao Town, Muping District [17]. - The company’s legal representative is Qu Shengli [17]. - The company’s website is http://www.hbyl.cn [17]. - The company has engaged He Xin Certified Public Accountants for auditing services [22]. - The company has established a complete and independent internal management system, ensuring no interference from the controlling shareholder in its operations [196]. - The company maintains an independent financial department with its own accounting system and bank accounts, ensuring financial autonomy [197]. - The company has a dedicated internal audit department that conducts regular audits to prevent risks and ensure asset integrity [195]. - The company has developed an independent raw material procurement, production, and sales system, demonstrating its capability to operate independently in the market [196]. - The company has implemented a transparent information disclosure system, enhancing the timeliness and accuracy of its financial reporting [195]. - The company has established four specialized committees under the board, including an audit committee, to promote sound governance practices [192]. - The company has a clear separation of assets from the controlling shareholder, ensuring no unauthorized use of company assets [197]. - The company has actively engaged with stakeholders to balance interests and promote sustainable development [195]. - The board of directors consists of 9 members, including 3 independent directors with expertise in industry, finance, and law, complying with regulatory requirements [192]. - The company held 3 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority investors, with separate voting counts for significant matters [191]. 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 earnings per share for 2021 was ¥0.40, reflecting a growth of 5.26% from ¥0.38 in 2020 [23]. - The diluted earnings per share also stood at ¥0.40, consistent with the basic earnings per share growth of 5.26% from ¥0.38 in 2020 [23]. - The total assets at the end of 2021 were ¥19,411,932,567.00, an increase of 8.52% 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 7.81% for 2021, down from 10.97% in 2020 [26]. - The company reported a significant decrease in sulfuric acid sales revenue, down 104.41% year-over-year, indicating a major shift in production strategy [77]. - The company reported a net loss from investment income of ¥145,006,594.63, accounting for -29.42% of total profit [112]. - The cash and cash equivalents net increase was ¥807,210,552.82, a decrease of -23.98% compared to the previous year [111]. - The company reported a total of CNY 248,905.88 million in promised investment projects, with all funds fully utilized [144]. Production and Operations - 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 its processing capabilities [49]. - The company has 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 [54]. - The company has completed the registration of gold resource reserves amounting to 150.38 tons, enhancing its self-sufficiency in raw materials [55]. - The company has achieved international advanced levels in production technology, winning four provincial and ministerial-level science and technology progress awards and one national second-class award [41]. - The company has developed 13 invention patents and 18 utility model patents, enhancing its technological capabilities in metallurgy [50]. - The company aims to enhance its gold smelting core business and leverage multi-metal recovery advantages, focusing on improving ore processing capabilities and achieving comprehensive recovery of valuable elements [166]. Market and Revenue - Gold revenue was ¥14.70 billion, accounting for 35.53% of total revenue, with a decrease of 15.13% from the previous year [71]. - Silver revenue increased by 30.03% to ¥4.06 billion, representing 9.80% of total revenue [71]. - Electrolytic copper revenue surged by 89.58% to ¥12.01 billion, making up 29.02% of total revenue [71]. - The company successfully issued short-term financing bonds and mid-term notes, raising a total of ¥1.1 billion at an average interest rate of 3.65% [64]. - Domestic revenue accounted for 84.41% of total revenue, while international revenue increased by 61.37% to ¥6.45 billion, representing 15.59% of total revenue [69]. - The chemical production segment saw a significant revenue increase of 111.88% to ¥782.67 million, contributing 1.89% to total revenue [67]. - The total sales revenue from non-ferrous metal trading was approximately ¥6.41 billion, with a slight increase of 0.71% year-over-year [74]. - The company's self-sales revenue reached approximately ¥41.27 billion, an increase of 4.89% year-over-year [74]. - Gold sales revenue was approximately ¥17.32 billion, with a year-over-year increase of 58.16% [74]. Costs and Expenses - The cost of raw materials for precious metal smelting was CNY 17,260,273,301.14, accounting for 43.92% of operating costs, a decrease of 5.24% year-on-year [87]. - The cost of raw materials for non-ferrous metal mining and smelting increased by 71.35% year-on-year, amounting to CNY 12,235,909,458.41, which accounted for 31.13% of operating costs [87]. - The cost of raw materials for gold was CNY 13,654,951,319.90, representing 34.74% of operating costs, down 13.33% year-on-year [89]. - The cost of raw materials for electrolytic copper increased by 85.90% year-on-year, totaling CNY 11,118,190,791.19, which accounted for 28.29% of operating costs [89]. - The company reported a 46.69% increase in the cost of raw materials for silver, amounting to CNY 3,604,387,186.71, which represented 9.17% of operating costs [89]. - Direct labor costs for zinc, antimony, bismuth, and selenium metals increased by 49.63% to ¥19,688,283.24 [94]. - Research and development expenses increased by 30.62% to ¥135,344,216.27, reflecting higher investment in R&D [100]. Strategic Initiatives and Future Plans - The company aims to increase its self-supply capacity of gold concentrates by investing more in exploration and mining, while establishing long-term supply relationships with vendors [174]. - The company will enhance its gold mining and smelting capabilities while pursuing mergers and acquisitions to strengthen profitability, with a focus on managing geological, legal, and political risks associated with foreign acquisitions [177]. - Future strategic goals include vertical integration, related diversification, and targeting high-purity materials manufacturing, with an emphasis on producing high-purity arsenic, antimony, bismuth, tellurium, and their compounds [167]. - The company plans to strengthen its mining foundation by utilizing current exploration results and focusing on key mining projects to increase self-produced gold output [167]. - The company is committed to improving its governance structure and compliance management to ensure transparent operations and protect shareholder interests [183]. - The company will enhance its environmental management and invest in clean production to comply with national environmental policies and standards [173]. - The company will implement risk control measures across trading, futures, and investment to prevent systemic risks, particularly focusing on safety and environmental risks [180]. - The company is actively preparing for the construction of a multi-element comprehensive recovery project, which has received necessary approvals [64]. - The company is exploring new strategies for market expansion and product development in response to changing market dynamics [83]. Industry Context and Challenges - In 2020, China's gold consumption was 820.98 tons, a year-on-year decrease of 18.13%, with jewelry processing accounting for 490.58 tons, down 27.45% [40]. - The company acknowledges exploration and mining risks due to regulatory constraints and the unpredictability of resource discovery, and plans to enhance talent and resource exploration planning to mitigate these risks [168]. - Policy risks related to mining rights and environmental regulations are recognized, with measures to ensure compliance and timely renewal of mining licenses [171]. - The risk analysis for derivative investments indicates low risk, with market risk being controllable [139]. - The company has established a comprehensive supervision mechanism for its hedging business, ensuring compliance with relevant laws and regulations [139]. - The company has not experienced any significant changes in accounting policies or principles regarding derivative investments compared to the previous reporting period [139]. - Jiangxi Copper Company acquired Hengbang Shares, both operating in the non-ferrous metal smelting and processing industry [200]. - Jiangxi Copper committed to comply with regulations and ensure equal shareholder rights during the control of Hengbang Shares [200].

Financial Performance - The company's operating revenue for Q1 2022 was ¥11,388,632,011.51, representing a 6.00% increase compared to ¥10,743,920,045.58 in the same period last year[3] - Net profit attributable to shareholders decreased by 10.31% to ¥121,058,119.91 from ¥134,972,057.46 year-on-year[3] - The net profit after deducting non-recurring gains and losses increased by 16.29% to ¥161,216,901.03 compared to ¥138,634,380.73 in the previous year[3] - Net profit for the current period was ¥116,554,488.06, a decrease of 8.6% from ¥127,901,336.69 in the previous period[26] - Earnings per share (EPS) for the current period was ¥0.11, down from ¥0.12 in the previous period[29] Cash Flow - The net cash flow from operating activities decreased by 59.76% to ¥211,957,029.38 from ¥526,776,499.41 in the same period last year[3] - Cash flow from operating activities totaled ¥12,456,437,008.63, an increase from ¥11,419,184,173.51 in the previous period[30] - The net cash flow from operating activities was 211,957,029.38, a decrease from 526,776,499.41 in the previous period[33] - The total cash outflow from operating activities amounted to 12,244,479,979.25, compared to 10,892,407,674.10 previously[33] - The net cash flow from investing activities was -275,601,492.39, an improvement from -435,997,343.11 in the prior period[33] - Cash inflow from financing activities totaled 5,520,448,143.73, up from 4,486,510,482.96 in the previous period[33] - The net cash flow from financing activities increased to 1,900,725,622.42 from 1,284,195,063.39[33] - The cash and cash equivalents at the end of the period reached 4,054,559,944.49, compared to 2,792,540,862.74 at the end of the previous period[33] Assets and Liabilities - Total assets increased by 14.64% to ¥22,254,555,321.16 from ¥19,411,932,567.00 at the end of the previous year[3] - Current assets rose to approximately 16.82 billion RMB, compared to 13.88 billion RMB at the beginning of the year, marking an increase of about 21.1%[16] - The company's total assets increased to approximately 22.25 billion RMB, up from 19.41 billion RMB at the beginning of the year, reflecting a growth of about 9.5%[19] - Total liabilities increased to ¥14,350,326,418.87 from ¥11,638,620,190.00, marking a growth of 23.3%[22] - Total current liabilities increased to approximately 11.14 billion RMB from 10.11 billion RMB, reflecting a growth of about 10.2%[19] Investments and Expenses - Research and development expenses increased by 317.79% compared to the same period last year, indicating a significant increase in investment in R&D projects[7] - Research and development expenses increased significantly to ¥56,469,355.66 from ¥13,516,074.09, indicating a focus on innovation[26] - The company reported a 133.04% increase in investment income, attributed to profits from commodity futures contracts and investments in Wanguo[7] - The company reported an investment income of ¥10,057,173.62, a recovery from a loss of ¥30,436,882.42 in the previous period[26] Other Financial Metrics - The company completed its 2021 employee stock ownership plan, purchasing 5.0761 million shares at an average price of 11.40 RMB per share, totaling approximately 57.84 million RMB, representing 0.44% of the total share capital[15] - The company issued a total of 1 billion RMB in short-term financing bonds and medium-term notes in January and February 2022, with interest rates ranging from 3.2% to 3.75%[15] - The company paid 260,796,590.93 in taxes, significantly higher than 159,108,901.34 in the previous period[33] - The cash paid for employee compensation was 164,001,217.74, compared to 158,345,916.78 previously[33] - The impact of exchange rate changes on cash and cash equivalents was -5,174,961.91, contrasting with a positive impact of 2,123,448.88 previously[33]

Financial Performance - The company reported a total revenue of 1,148,014,400.00 CNY for the year 2021, with a cash dividend of 0.40 CNY per 10 shares distributed to all shareholders[6]. - The company's operating revenue for 2021 was ¥41.38 billion, representing a 14.78% increase from ¥36.05 billion in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥454.82 million, up 24.16% from ¥366.30 million in 2020[23]. - The net profit after deducting non-recurring gains and losses was ¥596.17 million, reflecting a 28.77% increase from ¥462.97 million in 2020[23]. - The net cash flow from operating activities reached ¥473.59 million, a significant increase of 144.74% compared to ¥193.51 million in 2020[23]. - The basic and diluted earnings per share for 2021 were both ¥0.40, a 5.26% increase from ¥0.38 in 2020[23]. - The total assets at the end of 2021 were ¥19.41 billion, an 8.52% increase from ¥17.89 billion at the end of 2020[26]. - The net assets attributable to shareholders increased to ¥7.81 billion, up 4.28% from ¥7.49 billion at the end of 2020[26]. - The company reported a weighted average return on equity of 7.81% for 2021, down from 10.97% in 2020[26]. - The company reported a significant increase in sales volume for precious metals, with gold sales reaching ¥17,324,980,706.75, a 58.16% increase[71]. Shareholder and Governance - The company has a dedicated investor relations team to facilitate communication with shareholders and stakeholders[18]. - The board of directors will strengthen corporate governance and compliance management to ensure the effective implementation of strategic decisions and enhance operational transparency[184]. - The board of directors consists of 9 members, including 3 independent directors with expertise in industry, finance, and law, complying with regulatory requirements[191]. - The company held 3 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority investors, with separate voting for significant matters affecting their interests[190]. - The company has established a complete and independent internal management system, ensuring no interference from the controlling shareholder in its operations[195]. Operational Stability and Changes - The company has maintained its core business without any changes since its listing, indicating stability in operations[21]. - The major shareholder changed from Yantai Humon Group Co., Ltd. to Jiangxi Copper Corporation in 2019, reflecting a shift in control[21]. - The company has engaged He Xin Accounting Firm for auditing services, ensuring compliance and transparency in financial reporting[22]. - The company has outlined potential risks and corresponding mitigation strategies in its management discussion and analysis section[6]. Environmental and Social Responsibility - The company has a strong focus on environmental and social responsibilities, as highlighted in its annual report[5]. - The company is committed to environmental management and clean production, aiming to enhance its production processes and comply with national environmental standards[174]. - The company has eliminated the wet gold extraction system, significantly reducing environmental risks associated with cyanide tailings[54]. - The company is actively responding to national policies on carbon neutrality and promoting the certification of "green factories" and "green mines" to support sustainable development[181]. Research and Development - The company holds 13 invention patents, with one receiving the China Patent Excellence Award, reflecting its strong R&D capabilities[41]. - Research and development expenses increased by 30.62% to ¥135,344,216.27, reflecting higher investment in R&D[95]. - The number of R&D personnel increased by 27.10% from 487 in 2020 to 619 in 2021, with R&D personnel accounting for 12.57% of the total workforce[102]. - R&D investment amounted to ¥1,083,932,600.61 in 2021, a 13.89% increase from ¥951,716,940.16 in 2020, representing 2.62% of operating revenue[102]. Production and Capacity - The company has achieved an annual 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[53]. - In 2021, the company produced 39.60 tons of gold, 757.2 tons of silver, 194,800 tons of electrolytic copper, and 137,470 tons of sulfuric acid[53]. - The company has established a comprehensive recycling system for gold, silver, copper, lead, zinc, and other minor metals, achieving high recovery rates[50]. - The company has implemented a series of technological transformation projects to improve gold resource recovery rates and reduce material consumption[51]. Financial Management and Investments - The company successfully issued two phases of short-term financing bonds and one medium-term note, raising a total of CNY 1.1 billion at an average interest rate of 3.65%[62]. - The company completed a significant equity investment in Wan Guo International Mining Group for ¥314,674,099.54, acquiring a 20.87% stake using self-owned funds[122]. - The total investment amount for the reporting period was ¥767,794,819.42, representing a 92.69% increase compared to ¥398,452,408.22 in the same period last year[122]. - The company reported a net cash increase of ¥807,210,552.82, a decrease of 23.98% from the previous year[106]. Market and Sales - The company aims to enhance its market presence through strategic expansions and product innovations[74]. - The company plans to strengthen its mining foundation and increase self-produced gold output by developing key mining projects based on existing production areas[170]. - The company is advancing the "Complex Gold Concentrate Multi-Element Comprehensive Recovery Project," with environmental and safety assessments approved, and is preparing for construction[61]. - The company's domestic revenue accounted for 84.41% of total revenue, while international revenue grew by 61.37% to CNY 6,452,926,350.32[66]. Challenges and Risks - The company has experienced a net cash flow from operating activities of ¥526.78 million in Q1 2021, but reported a negative cash flow of -¥701.38 million in Q2 2021[32]. - The company is committed to enhancing its profitability by solidifying its traditional core business and advancing technological innovation and product structure optimization[180]. - The company emphasizes risk control across various areas including trade, futures, and investment, ensuring no systemic risks occur while focusing on safety and environmental protection[181].

证券代码：002237 证券简称：恒邦股份 公告编号：2021-062 山东恒邦冶炼股份有限公司 关于参加山东辖区上市公司2021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互动交流，提高公司透明度和治理水平，山东恒邦冶 炼股份有限公司（以下简称"公司"）将于 2021 年 11 月 16 日（星期二）下午 14:00 —16:00 参加由山东证监局、山东上市公司协会与深圳市全景网络有限公司联合举办 的"山东辖区上市公司 2021 年度投资者网上集体接待日"活动，现将有关事项公告 如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网上平 台采取网络远程的方式举行， 投资者可登录" 全景·路演天下 "网站 （http://rs.p5w.net）参与本次投资者网上接待日活动。 届时公司董事会秘书兼证券事务代表夏晓波先生将通过网络在线交流形式与投 资者就公司治理及社会责任、经营状况、发展战略、风险防控、投资者保护、三季 度报告等投资者关注的问题进行沟通。欢迎广大投资者积极参与。 特此 ...

Financial Performance - The company's operating revenue for the third quarter was ¥10,475,802,345.29, a decrease of 11.91% compared to the same period last year[4] - Net profit attributable to shareholders was ¥116,156,817.59, an increase of 39.20% year-on-year[4] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥179,949,371.07, a decrease of 59.90% compared to the previous year[4] - The basic earnings per share for the third quarter was ¥0.1, an increase of 11.11% compared to the same period last year[4] - The weighted average return on net assets was 1.51%, a decrease of 0.24% year-on-year[4] - Total operating revenue for the period reached CNY 31,818,622,116.68, an increase of 11.6% compared to CNY 28,337,838,125.92 in the previous period[26] - Net profit attributable to shareholders of the parent company was CNY 348,978,052.23, compared to CNY 217,303,313.94 in the same period last year, representing a significant increase of 60.6%[29] - The company reported a profit before tax of CNY 400,080,616.81, compared to CNY 261,046,586.85 in the previous period, an increase of 53.4%[29] - Other comprehensive income after tax amounted to CNY 15,020,635.34, compared to a loss of CNY 1,024,535.24 in the previous year[29] Assets and Liabilities - Total assets at the end of the reporting period reached ¥21,636,968,149.34, an increase of 20.96% from the end of the previous year[4] - The company's total assets reached RMB 21.64 billion, an increase from RMB 17.89 billion as of December 31, 2020, representing a growth of approximately 21.5%[17] - The total current liabilities increased to RMB 12.12 billion from RMB 9.52 billion, reflecting a rise of about 27.5%[22] - The company's total equity attributable to shareholders reached CNY 7,752,526,291.49, up from CNY 7,490,782,754.48, an increase of 3.5%[25] - Total liabilities amounted to approximately ¥10.41 billion, with current liabilities at ¥9.52 billion and non-current liabilities at ¥886.94 million[45] - The total liabilities were reported at ¥12,290,746,894.66, consistent with the previous reporting period[41] Cash Flow - The company reported a net cash inflow from operating activities of CNY 33,674,543,605.85, compared to CNY 29,069,410,367.23 in the previous year, indicating a growth of 15.5%[33] - The net cash flow from operating activities was ¥788,596,845.39, a decrease from ¥874,999,783.83 in the previous period[35] - Total cash inflow from financing activities reached ¥13,422,655,167.40, compared to ¥11,282,330,918.18 last year, indicating a growth of approximately 19.0%[35] - Cash outflow for financing activities totaled ¥10,976,632,130.62, up from ¥8,820,528,983.19, reflecting an increase of about 24.5%[38] - The cash balance at the end of the period was ¥4,063,892,341.84, an increase from ¥3,015,763,309.61 in the previous year[38] Borrowings and Financing - The company’s long-term borrowings increased by 217.68% year-on-year, with an additional ¥500 million in bank loans[7] - The company issued ¥300 million in short-term financing bonds, contributing to a 1697.24% increase in other current liabilities[7] - The company reported a long-term loan of approximately ¥224.10 million and long-term payables of approximately ¥488.36 million[45] - The first phase of the short-term financing bond was successfully redeemed, with a total payment of RMB 302.54 million completed by September 22, 2021[16] - The company issued the second phase of short-term financing bonds totaling RMB 300 million on September 23, 2021[16] Investments and Assets Management - The company reported a significant increase in derivative financial assets, up 6658.96% year-on-year, due to increased floating profits from commodity futures contracts[7] - The company reported a significant increase in derivative financial assets, which rose to RMB 226.88 million from RMB 3.36 million, marking a substantial growth of approximately 6,628%[19] - The company’s inventory decreased to RMB 8.37 billion from RMB 8.71 billion, a decline of about 4.0%[19] - The company reported a cash inflow from investment activities of ¥133,916,235.65, down from ¥187,394,129.86[35] - Cash outflow for investment activities was ¥726,634,221.34, compared to ¥841,932,872.14 in the previous period, indicating a decrease of approximately 13.7%[35] Government Support and Subsidies - The company received government subsidies amounting to ¥4,081,449.00 during the reporting period[6] Corporate Governance and Plans - The company has not yet implemented the employee stock ownership plan approved in 2021, which was disclosed on October 9, 2021[16] - The company plans to reduce shares held by major shareholders by up to 34.44 million shares, which is not more than 3% of the total share capital[16] Audit and Reporting - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[48]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 21,342,819,771.39, representing a 29.78% increase compared to CNY 16,445,823,921.40 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was CNY 232,821,234.64, a 73.93% increase from CNY 133,858,062.01 year-on-year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 327,770,664.10, showing a significant increase of 1,186.67% compared to a loss of CNY 30,162,958.57 in the previous year[24]. - The basic earnings per share increased to CNY 0.20, up 33.33% from CNY 0.15 in the same period last year[24]. - The total revenue for the reporting period reached ¥20,604,530,797.63, representing a year-on-year increase of 30.73%[59]. - The company reported a significant increase in overseas revenue, which reached ¥1,892,286,001.02, up 182.14% compared to the previous year[57]. - Silver revenue increased by 70.66% year-on-year, driven by higher sales prices and volumes[62]. - Electrolytic copper revenue rose by 76.85% compared to the previous year, attributed to increased production and sales volumes[62]. - Sulfuric acid revenue surged by 307.74% year-on-year, primarily due to a significant rise in sales prices[62]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 20,334,423,976.96, reflecting a 13.68% increase from CNY 17,888,036,639.43 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were CNY 7,628,131,079.34, which is a 1.83% increase from CNY 7,490,782,754.48 at the end of the previous year[24]. - The company's cash and cash equivalents increased by 43.08% to ¥3,836,517,952.83, reflecting a strategy to stabilize production amid uncertainties[66]. - Accounts receivable decreased by 46.36% to ¥25,402,312.78, as the company collected outstanding trade receivables[66]. - The company's inventory increased by 4.16% to ¥9,068,433,043.19, driven by rising product prices[66]. - Short-term borrowings increased by 21.47% to ¥8,145,633,832.20, influenced by rising commodity prices and increased funding needs[66]. - The company reported a 100% increase in long-term equity investments, reflecting new investments in Wanguo Mining[66]. - The derivative financial assets surged by 6864.77% to ¥233,789,191.17, mainly due to profits from commodity futures contracts[66]. Operational Efficiency - The company reported a net cash flow from operating activities of CNY -174,601,826.55, a decrease of 128.63% compared to CNY 609,888,168.93 in the same period last year[24]. - The weighted average return on net assets was 3.07%, an increase of 0.24% from 2.83% in the previous year[24]. - The company achieved a gross profit margin improvement, with sales expenses dropping by 82.48% to ¥9,950,926.47 due to adjustments in freight costs[51]. - The company's management team has implemented a profit assessment model based on gross profit, enhancing operational efficiency and economic benefits[50]. Production and Technology - The company focuses on gold mining, smelting, and the comprehensive recovery of precious metals, enhancing production efficiency through core technology improvements[33]. - The company has established advanced production processes, achieving international standards in gold refining technology, particularly in complex ore processing[43]. - The company has developed a unique arsenic treatment model, integrating harmless treatment and productization, which is recognized globally[40]. - The company has a production capacity of 50 tons of gold and 1,000 tons of silver annually, along with by-products including 250,000 tons of electrolytic copper and 1.3 million tons of sulfuric acid[47]. - The company has successfully launched a high-purity arsenic production line with an annual capacity of 10 tons, enhancing its position in the high-end materials market[46]. Environmental Management - The company is classified as a key pollutant discharge unit, with emissions of SO₂, NOx, and particulate matter all meeting standards, and no exceedances reported[106]. - The total SO₂ emissions from the company were 57.401 tons, with a concentration of 7.68 mg/m³, which is compliant with environmental standards[106]. - The company has implemented comprehensive pollution prevention measures in its smelting processes, including advanced recovery systems for various metals[107]. - The company has achieved compliance with environmental regulations through various treatment and monitoring systems, ensuring sustainable operations[116]. - The company has established emergency response plans for environmental incidents, ensuring preparedness and safety for employees and surrounding communities[116]. Shareholder and Corporate Governance - The company emphasizes shareholder rights protection, ensuring equal access to information for all shareholders and enhancing transparency through various communication channels[120]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[125]. - The company did not distribute cash dividends or issue bonus shares for the half-year period, nor did it increase capital through reserves[100]. - The company has not reported any significant changes in share transfer or repurchase activities during the reporting period[183]. - The company’s shareholding structure includes 237,614,400 shares held by state-owned entities, representing 20.70% of total shares[180]. Risks and Challenges - The company faces exploration and mining risks due to regulatory restrictions on mining areas, which may impact future resource acquisition and business development[91]. - The company is facing raw material supply risks, primarily relying on external purchases of gold concentrate, which may impact normal operations if supply is insufficient or quality fluctuates[95]. - The company has implemented measures to mitigate risks related to product price fluctuations, including hedging strategies to reduce inventory depreciation risks[92].

Financial Performance - The company's operating revenue for Q1 2021 was ¥10,743,920,045.58, representing a 68.27% increase compared to ¥6,384,824,595.03 in the same period last year[7] - Net profit attributable to shareholders was ¥134,972,057.46, up 51.03% from ¥89,367,678.17 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥138,634,380.73, a significant recovery from a loss of ¥288,740,670.58 in the previous year, marking a 148.01% increase[7] - Basic earnings per share increased to ¥0.12, a 20.00% rise from ¥0.10 in the previous year[7] - Revenue increased by 68.27% compared to the same period last year, driven by higher sales volumes and prices of gold, silver, and electrolytic copper[20] - Net profit attributable to shareholders rose by 51.03% year-on-year, mainly due to increased sales volumes and prices of key products[20] - Net profit excluding non-recurring gains and losses surged by 148.01% compared to the previous year, reflecting strong sales and improved gross margins[20] - The total profit for the current period was ¥170,170,655.98, an increase of 57.0% from ¥108,443,285.32 in the previous period[63] Cash Flow and Liquidity - The net cash flow from operating activities reached ¥526,776,499.41, which is a 102.95% increase from ¥259,556,904.27 in the same period last year[7] - Operating cash flow increased by 102.95% year-on-year, attributed to accelerated sales due to rising product prices[20] - Cash and cash equivalents grew by 66.93% from the beginning of the period, driven by increased operational cash inflows and additional bank loans for raw material supply[20] - Cash inflow from operating activities totaled ¥8,434,765,716.81, up 10.3% from ¥7,649,495,616.89 year-over-year[75] - Cash outflow from operating activities increased to ¥8,036,200,815.97, compared to ¥7,412,715,880.41 in the previous period, reflecting a rise of 8.4%[75] - Cash flow from financing activities generated a net inflow of ¥1,284,195,063.39, compared to ¥415,915,917.13 in the previous period, representing a 208.5% increase[74] - Total cash and cash equivalents at the end of the period reached ¥2,545,775,898.97, compared to ¥842,271,001.54 at the end of the previous period, marking a growth of 201.5%[77] Assets and Liabilities - Total assets at the end of the reporting period were ¥20,995,267,457.19, reflecting a 17.37% increase from ¥17,888,036,639.43 at the end of the previous year[7] - The company's total liabilities increased to ¥13,377,122,305.70 from ¥10,406,474,716.59, marking an increase of around 28.5%[43] - Current liabilities rose to ¥12,528,913,357.42, compared to ¥9,519,532,860.57, indicating an increase of about 31.5%[43] - Total liabilities increased to CNY 12,664,533,993.07 from CNY 10,043,936,995.00, marking a rise of about 26.5%[53] - The total owner's equity rose to ¥7,618,145,151.49, compared to ¥7,481,561,922.84, showing a growth of about 1.8%[46] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 68,317, with the largest shareholder, Jiangxi Copper Corporation, holding 44.48% of the shares[12] Research and Development - Research and development expenses for the current period were CNY 13,516,074.09, significantly higher than CNY 2,640,217.13 in the previous period, indicating a growth of about 412.5%[58] - Research and development expenses increased to ¥13,516,074.09, up from ¥2,640,217.13, marking a growth of 412.5%[63] Other Financial Metrics - The company reported a non-operating loss of ¥3,662,323.27 during the period, primarily due to government subsidies and asset disposal losses[7] - The weighted average return on net assets was 1.78%, slightly down from 1.90% in the previous year[7] - The company's inventory increased to ¥8,826,211,909.12 from ¥8,261,168,753.18, indicating a rise of approximately 6.8%[47] - The company's deferred tax assets were reported at ¥40,720,137.81, up from ¥43,285,342.63, reflecting a decrease of about 11.8%[40]

Financial Performance - The company's operating revenue for 2020 was ¥36,053,110,407.67, representing a 26.34% increase compared to ¥28,536,077,559.21 in 2019[24]. - The net profit attributable to shareholders for 2020 was ¥36,053,110,407.67, up from ¥28,536,077,559.21 in 2019, marking a growth of 26.34%[24]. - The net profit 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 total assets at the end of 2020 were ¥17,888,036,639.43, a decrease of 10.83% from ¥16,140,794,194.52 at the end of 2019[26]. - The net assets attributable to shareholders increased by 60.81% to ¥7,490,782,754.48 from ¥4,658,175,632.22 in 2019[26]. - 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 10.97%, up from 8.75% in 2019, reflecting a 2.22% increase[24]. - The company reported a net profit of ¥148,999,215.87 in Q4 2020, compared to ¥83,445,251.93 in Q3 2020, indicating a strong quarterly performance[33]. - The company reported a net profit attributable to shareholders of 366,302,529.81 CNY for the year, with a total distributable profit of 2,877,126,872.92 CNY after accounting for reserves and previous distributions[161]. - The cash dividend for 2019 was 0.30 CNY per 10 shares, totaling 27,312,000.00 CNY, which was 8.94% of the net profit attributable to shareholders[165]. Business Operations - The company has not changed its main business since its listing, maintaining a focus on smelting operations[22]. - The company's main profit source comes from gold mining and precious metal smelting, with smelting being the core profit business[41]. - The company continues to strengthen its core technology in precious metal smelting and comprehensive recovery, enhancing production efficiency[40]. - 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[41]. - The company has formed a complete gold industry chain, covering exploration, mining, selection, smelting, refining, and deep processing[57]. - The company aims to enhance direct procurement from overseas mines to improve control over raw material channels and reduce costs[41]. - The company has achieved a significant increase in construction projects, with in-progress projects rising by 87.65% compared to the previous period[50]. - The company has established a comprehensive recovery rate for gold, silver, copper, lead, zinc, and other minor metals, leading the industry in resource utilization[55]. Market and Sales - The company’s gold and silver sales are primarily conducted through the Shanghai Gold Exchange and direct contracts with buyers[44]. - Domestic revenue accounted for 88.91% of total revenue, amounting to CNY 32,054.21 million, while foreign revenue was CNY 3,998.90 million, a decrease of 32.73%[71]. - The sales volume of gold increased by 30.99% year-on-year, with production volume rising by 46.62% due to improved material quality and capacity utilization[78]. - Silver production increased by 31.64%, with inventory rising by 379.64% as the company adjusted its sales pace according to market conditions[81]. - The production volume of electrolytic copper increased by 30.00%, while inventory surged by 3968.80% due to market adjustments[81]. Financial Management - The company completed a private placement of shares, raising CNY 2.5 billion, which significantly improved liquidity and reduced the debt-to-asset ratio[64]. - 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[64]. - The company reported a significant decrease in the return volume of gold, down 74.08% compared to the previous year, primarily due to reduced processing business[78]. - The overall operating costs increased, with a notable rise in raw material costs impacting profitability across various segments[82]. - The cost of raw materials in the non-ferrous metal mining and smelting sector was approximately ¥31.54 billion, accounting for 91.85% of total operating costs, an increase of 51.77% year-on-year[82]. Research and Development - R&D expenses increased by 66.93% to ¥103,617,758.08, primarily due to increased investment in key technology and equipment development projects[97]. - Total R&D investment rose by 33.57% to ¥951,716,940.16, accounting for 2.64% of operating revenue[99]. - The company completed 7 out of 10 planned key R&D projects in 2020, with 3 projects achieving industrialization[98]. - The company received 4 patents and had 6 patents accepted by the National Intellectual Property Administration in 2020[98]. - The company has established a provincial-level technology center and multiple research stations to enhance its R&D capabilities in metallurgy[54]. Corporate Governance - The company is committed to improving its corporate governance structure to enhance decision-making efficiency and transparency in investor communications[158]. - The company has ensured that minority shareholders have had sufficient opportunities to express their opinions and that their legal rights have been fully protected[162]. - The independent directors have fulfilled their responsibilities and played their due role in the decision-making process[162]. - The company has committed to not engaging in actions that harm the interests of minority shareholders during its control period[170]. - The company guarantees that during its control of the listed company, it will continue to standardize management of related transactions and ensure that all transactions are conducted at fair market prices[173]. Environmental and Safety Management - The company plans to strengthen its environmental management and invest in clean production technologies to mitigate risks associated with stricter environmental regulations[152]. - The company emphasizes safety, green development, and technological innovation as key components of its operational strategy[148]. - The company emphasizes risk management, particularly in safety and environmental aspects, ensuring compliance with regulations to maintain operational continuity[157]. Future Outlook - The company aims to enhance its self-supply capacity of gold concentrate by increasing investments in exploration and mining, establishing long-term supply partnerships with suppliers[153]. - The company is focused on expanding its market presence through mergers and acquisitions to increase resource holdings and profitability[157]. - Future risks include exploration and mining uncertainties, which may affect the company's ability to secure valuable resource reserves[149].

Financial Performance - Operating revenue for the period reached CNY 11.89 billion, a 55.73% increase year-on-year[7] - Net profit attributable to shareholders decreased by 22.38% to CNY 83.45 million compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 169.21% to CNY 448.80 million[7] - Basic earnings per share decreased by 25.00% to CNY 0.09[7] - The company's net profit for the year is expected to show significant fluctuations compared to the previous year, with a warning issued regarding potential losses[30] - The net profit attributable to shareholders, excluding non-recurring gains and losses, rose by 53.60% year-on-year, impacted by a decrease in non-recurring gains due to hedging losses[18] - The company's net profit margin improved, with total operating costs rising to ¥11,362,107,827.79 from ¥7,406,710,003.22, reflecting a cost increase of about 53.1%[58] - The company's operating revenue for the current period reached ¥8,962,753,382.78, a significant increase of 42.3% compared to ¥6,303,984,568.63 in the previous period[66] - The total profit for the current period was ¥102,601,429.09, compared to ¥124,970,003.39 in the previous period, reflecting a decrease of 17.9%[65] - The company reported a total profit of ¥261,046,586.85, down from ¥306,079,718.84, a decrease of 15%[77] Assets and Liabilities - Total assets increased by 21.47% to CNY 19.61 billion compared to the end of the previous year[7] - The total liabilities of the company were ¥12.28 billion, compared to ¥11.49 billion in the previous year, reflecting an increase of approximately 6.9%[45] - The company's current assets amounted to ¥13.97 billion, up from ¥10.84 billion, indicating a year-over-year increase of about 28.5%[39] - Total liabilities amounted to ¥12,107,425,424.42, compared to ¥11,151,648,321.80, showing an increase of approximately 8.6%[55] - The company's total equity reached ¥4,735,399,513.81, including retained earnings of ¥2,628,073,502.15[119] - The company's long-term liabilities included CNY 383,226,880.90 in long-term payables, indicating ongoing financial commitments[107] Cash Flow - Net cash flow from operating activities increased by 138.59% to CNY 265.11 million[7] - Net cash flow from operating activities increased by 2255.42% year-on-year, primarily due to stable cash inflows this period after a decline in the previous period caused by prepayments[18] - The net cash flow from operating activities for the current period is ¥874,999,783.83, compared to a net cash outflow of ¥40,595,306.56 in the previous period, indicating a significant improvement[90] - The total cash inflow from operating activities is ¥29,176,045,531.71, up from ¥22,395,009,238.66 in the previous period, reflecting a growth of approximately 30.5%[90] - The cash outflow for purchasing goods and services in the current period is ¥27,522,264,483.83, compared to ¥21,467,057,453.43 in the previous period, representing an increase of about 28.3%[90] - The net cash flow from financing activities was CNY 2,372,703,396.64, an increase of 222.5% compared to CNY 736,169,504.61 in the previous period[100] Shareholder Information - The total number of shareholders at the end of the reporting period was 59,371[11] - The net assets attributable to shareholders increased by 57.52% compared to the beginning of the period, mainly due to funds raised from a targeted issuance of shares[18] - The company completed a non-public issuance of shares, increasing total shares from 910,400,000 to 1,148,014,400[19] - The company raised a total of RMB 2,504,455,776.00 from the issuance, with a net amount of RMB 2,491,432,605.96 after fees[28] Research and Development - Research and development expenses increased to ¥28,767,482.70, compared to ¥16,414,030.34 in the previous year, representing a growth of approximately 75.1%[58] - Research and development expenses increased to ¥78,473,776.51, compared to ¥50,066,930.61, marking a 56.7% rise[74] Other Financial Metrics - The company received government subsidies amounting to CNY 13.33 million during the reporting period[7] - The company has no reported violations regarding external guarantees during the reporting period[33] - There were no significant contracts or entrusted financial management activities reported during the period[32][35] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[34]