证券代码：002237 证券简称：恒邦股份 公告编号：2020-095 山东恒邦冶炼股份有限公司 关于参加山东辖区上市公司2020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，山东恒邦冶炼股份有限公司（以下简称"公 司"）将于 2020 年 9 月 29 日（星期二）下午 15:00—16:55 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 2020 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。 届时公司副总经理、财务总监周政华先生，副总经理、董事会秘书夏晓波先生 将通过网络在线交流形式与投资者就公司治理、经营状况、发展战略和可持续发展 等投资者关注的问题进行沟通。欢迎广大投资者积极 ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 16,445,823,921.40, representing a 26.62% increase compared to CNY 12,987,834,790.53 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 8.51% to CNY 133,858,062.01 from CNY 146,315,654.53 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was CNY -30,162,958.57, a decline of 128.50% compared to CNY 105,837,236.65 in the previous year[21]. - The net cash flow from operating activities was CNY 609,888,168.93, down 5.65% from CNY 646,444,275.16 in the same period last year[21]. - Total assets at the end of the reporting period were CNY 17,223,987,713.23, an increase of 6.71% from CNY 16,140,794,194.52 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company increased by 2.51% to CNY 4,775,281,364.27 from CNY 4,658,175,632.22 at the end of the previous year[21]. - The basic earnings per share decreased by 6.25% to CNY 0.15 from CNY 0.16 in the same period last year[21]. - The diluted earnings per share also decreased by 6.25% to CNY 0.15 from CNY 0.16 year-on-year[21]. - The weighted average return on net assets was 2.83%, down from 3.30% in the previous year[21]. - The company reported a total non-recurring profit of approximately ¥164.02 million, primarily due to effective hedging activities and fair value changes in financial assets[28]. Production and Operations - Gold production reached 24.83 tons, up 44.01% year-on-year, while silver production increased by 49.17% to 395.25 tons[51]. - The company has achieved an annual production capacity of 50 tons of gold, 700 tons of silver, 250,000 tons of electrolytic copper, and 1.3 million tons of sulfuric acid[42]. - The company’s main products include gold, silver, electrolytic copper, lead, zinc ingots, and various rare metals, with gold and silver being the primary products[31]. - The company has strengthened its core technology in precious metal smelting and comprehensive recovery, significantly improving production efficiency over recent years[31]. - The company’s production processes have reached advanced domestic levels, with multiple technologies recognized by national awards, including three first-class provincial and ministerial science and technology progress awards[36]. - The company has a geological resource reserve of 20,362,287 tons, with a gold metal content of 75,529 kg and an average grade of 3.71 g/t[45]. - The company has successfully implemented projects that improve the recovery rate of complex gold concentrates, achieving high recovery rates for multiple elements including Au, Ag, Cu, Pb, and Zn[42]. Research and Development - The company has a strong focus on research and development, with several patented technologies contributing to its market position[36]. - As of the end of 2019, the company has obtained 10 invention patents and 12 utility model patents, enhancing its technological capabilities in gold extraction and processing[41]. - Research and development investment rose by 47.70% to ¥49,706,293.81, reflecting increased project funding[52]. - The company is actively expanding its product offerings, including entering the semiconductor materials sector with the launch of a high-purity materials R&D project[42]. Environmental Management - The company has a strong focus on environmental protection, having eliminated cyanide tailings risks and implemented resource recycling for arsenic[46]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[140]. - The total SO2 emissions were 42.04 tons, with no exceedance of discharge standards[142]. - The company has implemented advanced pollution control measures, including a comprehensive recovery system for complex gold concentrates and a harmless treatment system for wet gold smelting waste[148]. - The company has established emergency response plans for environmental risks, including comprehensive and specialized plans for various facilities, ensuring preparedness for potential environmental incidents[158]. - The company has committed to environmental sustainability, aligning with national policies that prioritize both economic growth and environmental protection[159]. Subsidiaries and Investments - The subsidiary Hangzhou Jiantong Group achieved total assets of 447.75 million CNY and a net profit of 8.96 million CNY, a decrease of 54.30% year-on-year[84]. - The subsidiary Weihai Hengbang Chemical reported total revenue of 621.25 million CNY, with a net profit of 25.99 million CNY[79]. - The subsidiary Qixia Jin Xing Mining reported a total revenue of 505.55 million CNY but incurred a net loss of 9.27 million CNY[79]. - The company holds 100% equity in Hangzhou Jiantong Group, which faced a 65.23% decrease in revenue compared to the previous year due to the pandemic[84]. Market and Sales - Domestic revenue accounted for 95.92% of total revenue, increasing by 32.67% year-on-year, while overseas revenue decreased by 38.88%[58]. - The sales revenue from gold reached ¥7,742,656,156.44, representing 47.08% of total revenue, with a 100.12% increase year-on-year[55]. - The company’s sales model for precious metals includes selling gold through the Shanghai Gold Exchange and silver through direct inquiries, ensuring efficient sales processes[35]. - The company plans to expand its market presence through strategic acquisitions and new product developments[110]. Financial Position and Risks - The company reported a net cash inflow from financing activities of ¥633,866,855.70, a significant increase of 429.37% due to increased short-term bank financing[55]. - The company experienced a 110.12% increase in cash flow from investment activities, primarily due to increased hedging business volume[55]. - The company faces policy risks related to mining rights and environmental regulations, necessitating proactive compliance measures[9]. - Fluctuations in metal prices pose a risk to inventory value and cash flow, prompting the company to implement hedging strategies[10]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 67,088, with Jiangxi Copper Company holding 29.99% of shares[172]. - The top shareholder is Jiangxi Copper Co., Ltd., holding 273,028,960 shares, representing a significant portion of the company's equity[177]. - The company has not reported any significant changes in its subsidiaries during the reporting period[163]. - The company did not implement any employee incentive plans during the reporting period[103].

山东恒邦冶炼股份有限公司 2020 年第一季度报告全文 山东恒邦冶炼股份有限公司 2020 年第一季度报告 2020-038 2020 年 04 月 山东恒邦冶炼股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人曲胜利、主管会计工作负责人周政华及会计机构负责人(会计主 管人员)张述璟声明：保证季度报告中财务报表的真实、准确、完整。 1 山东恒邦冶炼股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | --- | |--------|------------------------|-----------------------------------------------------|-------------------|----------- ...

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 shareholders[6]. - 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[24]. - 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[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥399,225,648.17, which is a 4.89% increase from ¥380,619,101.66 in 2018[24]. - The basic earnings per share for 2019 was ¥0.34, down 24.44% from ¥0.45 in 2018[24]. - The diluted earnings per share for 2019 was also ¥0.34, reflecting the same decrease of 24.44% from ¥0.45 in 2018[24]. - The company's operating profit for 2019 was CNY 39,109.71 million, a decrease of 21.10% from the previous year[59]. - The company achieved a net profit attributable to shareholders of 305,536,032.49 CNY for the year 2019, with a distributable profit of 2,571,584,251.30 CNY after accounting for statutory surplus reserves[129]. Assets and Liabilities - 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[24]. - 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[24]. - The company's total liabilities increased by 184.18% to 588,278,540.00 yuan, driven by higher volumes in gold leasing business[101]. - The company's total liabilities were reported at CNY 10.56 billion, with current liabilities comprising CNY 10.25 billion[157]. - The company's equity attributable to shareholders was approximately CNY 4.36 billion[157]. Cash Flow - The net cash flow from operating activities decreased by 55.39% to ¥516,218,867.51 from ¥1,157,063,713.28 in 2018[24]. - Cash inflow from financing activities increased by 80.72% to ¥13,287,603,438.87, driven by higher working capital needs[91]. - The company reported a significant decline in cash flow from operating activities in Q3 2019, with a negative cash flow of ¥687,039,581.72[31]. Operational Highlights - The company has strengthened its core technology in precious metal smelting and comprehensive recovery, enhancing production efficiency[38]. - The company's main profit source comes from gold mining and precious metal smelting, with smelting being the core profit business[39]. - The company has established three trading subsidiaries to ensure domestic raw material supply, transitioning to a model combining trader procurement and direct mining procurement[40]. - The company has expanded its overseas procurement base, establishing connections in countries like Peru, Ecuador, and Australia, aiming to enhance control over raw material channels and reduce costs[40]. - The company has achieved advanced production technology, particularly in processing complex gold concentrates, and has received multiple awards for its technological advancements[49]. Research and Development - Research and development expenses amounted to ¥712,544,832.00, a 7.05% increase compared to the previous year[88]. - The company completed 13 out of 16 key R&D projects, with three projects achieving industrialization[87]. - The company has been approved for a major technological innovation project in Shandong Province, enhancing its capabilities in high-end material manufacturing[87]. Market and Sales - The company has a comprehensive sales model for precious metals, with gold sold through the Shanghai Gold Exchange and silver sold via phone inquiries[43]. - The company's domestic revenue accounted for 79.17% of total revenue, increasing by 14.59% year-over-year, while foreign revenue grew by 300.01% to approximately ¥5.94 billion[64]. - The company reported a significant transaction amount of 5,962.5 million for the sale of gold and silver-containing mineral powder, with a 0.21% market price adjustment[197]. Future Plans and Strategies - Future plans and development strategies are outlined, with a focus on risk factors and corresponding mitigation measures[6]. - 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[116]. - The company plans to invest CNY 340 million in the development and industrialization of high-purity new materials, with production expected by the end of 2020[52]. - The company plans to retain the remaining undistributed profits for the next fiscal year and will not increase capital through the capital reserve[139]. Compliance and Governance - The company emphasizes the importance of accurate financial reporting, with key personnel affirming the completeness and truthfulness of the annual report[5]. - The company has engaged Shandong Hexin Certified Public Accountants for auditing services during the reporting period[23]. - The company has established long-term supply relationships with certain suppliers to secure the supply of gold concentrate[122]. - The company emphasizes the importance of aligning with national and regional policies to ensure compliance in mining operations[122].

Financial Performance - Operating revenue for the reporting period was ¥7,636,258,315.75, representing a 64.10% increase year-on-year[8] - Net profit attributable to shareholders was ¥107,501,065.82, a 16.57% increase compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥166,711,555.15, up 114.48% year-on-year[8] - Basic earnings per share increased by 20.00% to ¥0.12 from ¥0.10 in the same period last year[8] - The weighted average return on equity was 2.59%, an increase of 0.28% compared to the previous year[8] - The company's Q3 revenue increased by 64.10% year-on-year, and year-to-date revenue rose by 35.79%, primarily due to higher sales prices of gold and silver[21] - The net profit attributable to shareholders, excluding non-recurring gains and losses, increased by 114.48% year-on-year in Q3, driven by higher sales volume and prices of gold and silver[21] - Total operating revenue for Q3 2019 reached CNY 7,636,258,315.75, a significant increase of 64.8% compared to CNY 4,653,388,565.53 in the same period last year[46] - Net profit for Q3 2019 was CNY 104,454,849.89, up 16.4% from CNY 89,755,675.08 in Q3 2018[48] - The total comprehensive income attributable to the parent company was CNY 102,435,502.53, slightly down from CNY 107,084,159.77 in the previous year[50] Assets and Liabilities - Total assets at the end of the reporting period reached ¥15,098,281,398.18, an increase of 1.20% compared to the previous year[8] - The company's total liabilities amounted to CNY 10,510,224,309.67, slightly down from CNY 10,556,876,448.95 year-over-year[36] - Current liabilities decreased to CNY 10,172,988,656.44 from CNY 10,249,933,296.96 year-over-year, reflecting a reduction in short-term borrowings[36] - The equity attributable to shareholders increased to CNY 4,593,953,968.55 from CNY 4,356,631,770.73 year-over-year, indicating a growth of approximately 5.4%[38] - The company's total current assets decreased to CNY 9,865,909,229.78 from CNY 9,653,899,316.78 year-over-year, a decline of approximately 2.2%[36] - The company's long-term liabilities rose to CNY 337,235,653.23 from CNY 306,943,151.99 year-over-year, an increase of about 9.8%[36] - The total owner's equity reached CNY 4,588,057,088.51, up from CNY 4,363,056,479.46 year-over-year, indicating a growth of approximately 5.2%[38] Cash Flow - The net cash flow from operating activities was -¥687,039,581.72, a decrease of 729.41% compared to the previous year[8] - The net cash flow from operating activities decreased by 729.41% year-on-year in Q3, and year-to-date it fell by 105.98%, attributed to increased raw material reserves for new projects and settlement of prior raw material purchases[21] - Cash and cash equivalents decreased to CNY 1,731,225,353.84 from CNY 2,068,610,242.04 year-over-year, a decline of about 16.3%[39] - The company's cash flow from operating activities totaled ¥22,395,009,238.66, up from ¥16,632,003,893.06 in the previous period, indicating improved cash generation[69] - The total cash inflow from operating activities was 17,604,063,607.00 CNY, compared to 15,712,856,578.43 CNY in the previous year, reflecting growth in operational revenue[74] Shareholder Information - The total number of shareholders at the end of the reporting period was 81,060[11] - Jiangxi Copper Corporation held a 29.99% stake in the company, making it the largest shareholder[11] - The company plans to reduce shares held by major shareholder Hengbang Group by up to 27,312,000 shares, representing 3% of the total share capital[23] Research and Development - Research and development expenses rose to CNY 16,414,030.34, compared to CNY 5,091,513.52 in the previous year, marking an increase of 222.5%[46] - Research and development expenses increased to ¥16,414,030.34, up from ¥5,081,463.52, indicating a focus on innovation and new product development[52] - Research and development expenses increased significantly to ¥50,066,930.61, compared to ¥13,404,877.67 in the previous period, reflecting a focus on innovation[65] Government Support - The company received government subsidies amounting to ¥24,367,000.00 during the reporting period[9] Financial Management - The company has not engaged in any repurchase of shares during the reporting period[24] - There were no violations of external guarantees during the reporting period[25] - The company does not have any non-operating fund occupation by controlling shareholders or related parties during the reporting period[26] - The company did not conduct any entrusted financial management during the reporting period[27]

Financial Performance - The company's operating revenue for the reporting period was CNY 12,987,834,790.53, representing a 23.62% increase compared to the previous year's revenue of CNY 10,403,274,944.02[19] - The net profit attributable to shareholders of the listed company decreased by 42.02% to CNY 146,315,654.53, down from CNY 252,370,892.09 in the same period last year[19] - The net profit after deducting non-recurring gains and losses was CNY 105,837,236.65, a decline of 57.34% compared to CNY 248,098,258.31 in the previous year[19] - The net cash flow from operating activities was CNY 646,444,275.16, which is a decrease of 15.09% from CNY 761,333,230.82 in the same period last year[19] - The basic earnings per share decreased by 42.86% to CNY 0.16, down from CNY 0.28 in the same period last year[19] - The diluted earnings per share also decreased by 42.86% to CNY 0.16, compared to CNY 0.28 in the previous year[19] - The weighted average return on equity was 3.30%, down from 5.81% in the previous year[19] - The total operating costs were CNY 12,850,980,577.67, which is an increase of 26.4% from CNY 10,175,653,328.41 in the same period last year[186] - The total comprehensive income for the period was CNY 118,039,275.28, a significant decrease from CNY 298,667,838.71 in the same period of 2018[189] Assets and Liabilities - The total assets at the end of the reporting period were CNY 15,598,882,461.69, reflecting a 4.55% increase from CNY 14,919,932,928.41 at the end of the previous year[19] - The net assets attributable to shareholders of the listed company increased by 3.18% to CNY 4,495,354,751.36, compared to CNY 4,356,631,770.73 at the end of the previous year[19] - Total liabilities amounted to CNY 11,107,057,816.31, compared to CNY 10,556,876,448.95, marking an increase of approximately 5.20%[180] - The company's equity attributable to shareholders increased to CNY 4,495,354,751.36 from CNY 4,356,631,770.73, representing a growth of about 3.19%[180] - The total cash inflow from financing activities was approximately ¥5.02 billion, down from ¥5.98 billion in the previous year, indicating a decrease of about 16.06%[200] Government Support and Subsidies - The company received government subsidies amounting to ¥16,136,328.61, primarily related to the deferred amortization of asset-related government grants[25] Operational Highlights - The company focuses on gold exploration, smelting, and chemical production, enhancing its core technology in precious metal smelting and comprehensive recovery[28] - The main products include gold, silver, electrolytic copper, lead, sulfuric acid, and phosphate fertilizers, with gold and silver being the primary revenue sources[28] - The company has established three trading subsidiaries to ensure domestic mineral raw material supply and is expanding overseas procurement to reduce costs[29] - The company operates 8 smelting production lines, achieving significant economies of scale in the gold smelting industry[38] - The company has developed advanced recovery technologies, significantly improving the recovery rates of complex gold concentrates and reducing material consumption[38] Research and Development - The company has maintained R&D investment at over 3% of operating revenue, resulting in 9 invention patents and 12 utility model patents as of the end of 2018[37] - Research and development expenses for the period were CNY 33,652,900.27, compared to CNY 30,068,765.45 in the previous year, marking an increase of 8.8%[188] Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[123] - The total sulfur dioxide emissions were 70.13 tons, with no exceedance of discharge standards[124] - Nitrogen oxides emissions totaled 79.81 tons, also within the discharge limits[124] - Dust emissions were recorded at 27.12 tons, compliant with the standards[126] - The company has a total wastewater treatment capacity of 5,500 m³/d, ensuring that treated wastewater meets the standards for reuse in production without discharge[134] Shareholder Information - The total number of common shareholders at the end of the reporting period was 69,616[156] - Jiangxi Copper Co., Ltd. holds 29.99% of the shares, totaling 273,028,960 shares[156] - The new controlling shareholder is Jiangxi Copper Co., Ltd., effective June 26, 2019[159] - The actual controller has changed to Jiangxi Provincial State-owned Assets Supervision and Administration Commission, effective June 26, 2019[159] Risks and Challenges - The company faces exploration and mining risks due to regulatory restrictions on resource exploration and development, which may impact future business growth[81] - The company faces policy risks related to mining rights and government regulations, and it aims to enhance communication with government departments to ensure compliance[82] - Fluctuations in the prices of gold and silver significantly impact the company's inventory value and cash flow, prompting the company to implement hedging measures to mitigate risks[82]

Financial Performance - The company's operating revenue for Q1 2019 was CNY 5,855,543,210.33, representing a 26.26% increase compared to the same period last year[7]. - The net profit attributable to shareholders was CNY 108,970,404.04, a decrease of 17.86% year-on-year[7]. - Basic earnings per share were CNY 0.12, reflecting a 20.00% decline compared to the same period last year[7]. - Total operating revenue increased to ¥5,855,543,210.33 from ¥4,637,867,669.71, representing a growth of approximately 26.2% year-over-year[49]. - Net profit for the period was ¥104,947,620.51, down from ¥130,982,569.50, reflecting a decrease of approximately 19.9% year-over-year[52]. - The total profit for the period was ¥126,847,845.90, down from ¥159,789,195.07, a decrease of about 20.6% year-over-year[52]. - The company's total comprehensive income for the period was ¥89,503,116.50, down from ¥211,897,901.86, a decline of approximately 57.8% year-over-year[53]. Cash Flow - The net cash flow from operating activities was CNY 338,373,788.28, down 34.72% from the previous year[7]. - Cash flow from operating activities generated a net cash flow of CNY 338,373,788.28, down from CNY 518,371,700.63 in the previous period[62]. - The cash outflow for operating activities totaled CNY 5,662,866,948.41, compared to CNY 4,823,248,400.10 in the previous period[62]. - The net cash flow from investment activities was -CNY 115,295,808.25, improving from -CNY 335,758,174.27 in the previous period[63]. - Cash inflow from financing activities was CNY 3,417,944,036.42, slightly down from CNY 3,445,807,369.18 in the previous period[63]. - The total cash inflow from financing activities was 3,136,412,036.42 CNY, while cash outflow was 3,193,470,072.90 CNY, resulting in a net cash flow of -57,058,036.48 CNY[68]. - The net increase in cash and cash equivalents was 117,221,129.13 CNY, compared to 172,237,943.30 CNY in the previous period[68]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 15,299,800,710.94, an increase of 2.55% from the end of the previous year[7]. - The company's total liabilities reached CNY 10,346,869,476.88, up from CNY 10,169,612,756.25 in the previous period[46]. - Total current liabilities amounted to CNY 10,110,495,873.02, compared to CNY 9,927,733,652.05 in the previous period[46]. - The company's total assets were reported at 14,919,932,928.41 CNY[72]. - Total liabilities reached 10,556,876,448.95 CNY, with current liabilities totaling 10,249,933,296.96 CNY[72]. - The total equity attributable to shareholders of the parent company was CNY 4,585,647,138.13, compared to CNY 4,485,914,403.73 at the end of 2018[48]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 58,893[10]. - The largest shareholder, Yantai Hengbang Group Co., Ltd., held 35.87% of the shares[10]. - The company has a total of CNY 206,917,267.25 in trading financial liabilities, indicating active market engagement[74]. Inventory and Receivables - The company reported a decrease in accounts receivable to approximately 116.56 million yuan from 123.22 million yuan[35]. - Inventory decreased to approximately 5.12 billion yuan from 5.33 billion yuan at the end of 2018[35]. - The company's inventory decreased to CNY 4,848,889,797.10 from CNY 5,083,746,008.61[44]. - The report indicates a significant amount of other receivables at CNY 56,062,171.76, which may impact cash flow management[74]. Expenses - Total operating costs rose to ¥5,716,352,705.02 from ¥4,461,588,614.36, an increase of about 28.1% year-over-year[49]. - Research and development expenses decreased to ¥2,906,954.00 from ¥5,280,089.56, a reduction of about 45% year-over-year[49]. - Financial expenses increased significantly to ¥89,846,237.33 from ¥46,154,902.51, marking an increase of approximately 94.5% year-over-year[49]. - The company paid CNY 68,533,929.36 in taxes during the period, compared to CNY 33,504,926.04 in the previous period[62]. Other Information - The company has no violations regarding external guarantees during the reporting period[29]. - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[78]. - The report does not provide specific guidance on future performance or new product developments, indicating a potential area for further communication[76].

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[20] - The net profit attributable to shareholders of the listed company was CNY 405,768,244.34, which is a 1.92% increase from CNY 360,956,311.18 in the previous year[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 380,619,101.66, showing a decrease of 16.72% from CNY 456,225,619.46 in 2017[20] - The net cash flow from operating activities increased by 45.62% to CNY 1,157,063,713.28, compared to CNY 695,361,164.70 in the previous year[20] - The total assets at the end of 2018 were CNY 14,919,932,928.41, reflecting an 11.06% increase from CNY 12,930,336,639.57 at the end of 2017[22] - The net assets attributable to shareholders of the listed company were CNY 4,356,631,770, showing a slight increase from CNY 4,207,463,170 in 2017[22] - The basic earnings per share for 2018 were CNY 0.45, up from CNY 0.40 in the previous year, marking a 2.27% increase[20] - The diluted earnings per share also stood at CNY 0.45, consistent with the basic earnings per share[20] - The weighted average return on net assets was 8.65%, down from 9.02% in 2017, indicating a decrease of 2.72%[20] - The company's total operating revenue for 2018 was approximately ¥21.2 billion, with quarterly revenues of ¥4.61 billion, ¥5.79 billion, ¥4.51 billion, and ¥6.29 billion respectively[29] - The net profit attributable to shareholders for the year was approximately ¥406 million, with quarterly net profits of ¥123 million, ¥104 million, ¥75 million, and ¥104 million respectively[29] Production and Sales - 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%[58] - 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[46] - The production volume of gold decreased by 2.01% to 539,768.85 kg compared to the previous year[70] - The sales volume of electrolytic copper decreased by 7.33% to 907,968.29 tons, while the production volume decreased by 9.75% to 1,101,799.9 tons[70] - The company produced 12.95 million tons of electrolytic copper in 2018, a decrease of 10.25% year-over-year[58] - Gold sales generated ¥7.96 billion, a decrease of 6.08% from ¥8.48 billion in 2017, representing 37.56% of total revenue[65] - Silver sales dropped by 13.14%, amounting to ¥1.73 billion, down from ¥1.99 billion in the previous year[65] - Electrolytic copper revenue was approximately ¥6.12 billion, reflecting a decrease of 2.67% from ¥6.29 billion in 2017[67] Research and Development - The company has maintained R&D investment at over 3% of operating income in recent years, indicating a strong commitment to innovation[48] - Research and development expenses amounted to ¥60,137,530.91, a 32.50% increase from ¥45,385,924.89 in 2017[89] - The company completed 11 out of 14 key research projects in 2018, with two projects achieving industrialization[90] - Total R&D investment was ¥665,622,788.32, representing 3.14% of operating revenue, down from 3.45% in 2017[91] - The company has developed and patented nine invention patents and twelve utility model patents, showcasing its technological advancements in complex gold ore processing[49] Acquisitions and Subsidiaries - The company completed the acquisition of Hangzhou Jiancopper Group Co., Ltd. for a total cost of 485 million RMB, with the transaction finalized on December 21, 2018[82][83] - The total assets of Hangzhou Jiancopper Group at the time of acquisition were valued at approximately 509.29 million RMB, with total liabilities of about 179.78 million RMB[83] - The net profit of Hangzhou Jiancopper Group from the beginning of the period until the acquisition date was approximately 34.83 million RMB[82] - The company established two new subsidiaries in 2018, including Shanghai Kunbang International Trade Co., Ltd. and Yantai Hengbang High Purity New Materials Co., Ltd., both fully owned by the company[79] - The company acquired 100% equity in Hangzhou Jiantong Group Co., Ltd. for RMB 500 million, with the transaction completed on December 21, 2018[178] Market Strategy and Operations - The company plans to establish overseas procurement bases to enhance control over raw material channels and reduce procurement costs[38] - The company has established long-term supply cooperation relationships with several suppliers to mitigate raw material supply risks[143] - The company plans to continue expanding its market presence and developing new products to enhance revenue streams[63] - The company is focusing on strengthening market operations to increase profit points and build a reliable raw material supply network[145] - The company has implemented hedging measures to effectively reduce the risk of inventory depreciation due to price fluctuations in precious metals[139] Environmental and Sustainability Efforts - The company has committed to improving environmental management and increasing investment in clean production to meet stricter environmental standards[140] - The company has successfully implemented a project for the harmless treatment of waste from wet gold smelting, transitioning from construction to fixed assets[47] - The company has been recognized as an advanced unit in resource conservation at both provincial and municipal levels, highlighting its commitment to sustainable practices[50] Financial Position and Liabilities - Cash and cash equivalents increased by 64.71% to ¥2,169,714,813.60, representing 14.54% of total assets[99] - Accounts receivable surged by 451.48% to ¥69,121,948.68, accounting for 0.46% of total assets, due to increased sales in sulfuric acid and trade anode plates[99] - Inventory rose by 9.93% to ¥5,328,054,612.90, representing 35.71% of total assets, driven by the ramp-up of the hazardous waste treatment project[99] - Fixed assets increased by 19.77% to ¥4,328,598,098.71, accounting for 29.01% of total assets, due to new project completions[101] - Short-term borrowings grew by 21.05% to ¥6,638,313,536.71, representing 44.49% of total liabilities, as the company replaced hedging with working capital loans[101] Future Outlook - The company plans to achieve a total revenue of 22.5 billion yuan in 2019, representing a growth of 6.13% compared to 21.2 billion yuan in 2018[144] - The net profit target for 2019 is set at 400 million yuan, which is a 2.04% increase from 392 million yuan in 2018[144] - Hengbang Co. aims to enhance its gold smelting core business and expand its multi-metal recovery capabilities, focusing on comprehensive recovery of valuable elements[135] - The company plans to achieve vertical integration and related diversification, targeting zero waste in green development and automation in production operations[135]

山东恒邦冶炼股份有限公司 2018 年第三季度报告正文 证券代码：002237 证券简称： 恒邦股份 公告编号：2018-054 山东恒邦冶炼股份有限公司 2018 年第三季度报告正文 1 山东恒邦冶炼股份有限公司 2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人曲胜利、主管会计工作负责人张克河及会计机构负责人(会计主 管人员)张述璟声明：保证季度报告中财务报表的真实、准确、完整。 2 山东恒邦冶炼股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 山东恒邦冶炼股份有限公司 2018 年第三季度报告正文 | | | 对公司根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义界定的非经常性损益项目，以及把《公 开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 10,403,274,944.02, representing a 1.50% increase compared to CNY 10,249,313,260.88 in the same period last year[18]. - Net profit attributable to shareholders was CNY 226,451,486.48, up 14.69% from CNY 197,448,838.18 year-on-year[18]. - Basic earnings per share rose to CNY 0.250, reflecting a 13.64% increase from CNY 0.220 in the same period last year[18]. - The operating profit for the same period was CNY 26,605.10 million, an increase of 13.53% compared to the previous year[42]. - The company reported a total profit of CNY 266,236,078.00, an increase from CNY 236,426,308.55 year-over-year, which is an increase of approximately 12.6%[150]. - The total comprehensive income for the first half of 2018 was CNY 270,350,420.60, compared to CNY 226,652,335.75 in the previous year, reflecting an increase of approximately 19.2%[151]. Cash Flow - The net cash flow from operating activities reached CNY 687,252,578.98, a significant increase of 809.36% compared to a negative cash flow of CNY 96,883,262.97 in the previous year[18]. - Total cash inflow from operating activities was ¥11,368,067,894.86, while cash outflow was ¥10,680,815,315.88, resulting in a net cash flow of ¥687,252,578.98[158]. - Cash flow from investing activities showed a net outflow of ¥398,366,347.59, compared to a net outflow of ¥142,195,991.36 in the previous period[159]. - Cash inflow from financing activities was ¥5,943,096,613.00, with a net cash flow of ¥72,158,394.57 after outflows[159]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,465,979,299.17, a 4.14% increase from CNY 12,930,336,639.57 at the end of the previous year[18]. - The company's total liabilities reached CNY 9.07 billion, an increase from CNY 8.71 billion, marking a growth of around 4%[142]. - Cash and cash equivalents at the end of the period amounted to ¥2,051,957,113.00, representing 15.24% of total assets, an increase from 10.15% year-on-year[53]. - Short-term loans increased to ¥6,547,208,077, accounting for 48.62% of total liabilities, up from 41.83% in the previous period[55]. Revenue Sources - The main products include gold, silver, electrolytic copper, lead, sulfuric acid, and phosphate fertilizers, with gold and silver being the primary revenue sources[26]. - Revenue from non-ferrous metal mining and smelting was ¥10,087,604,937.41, accounting for 96.97% of total revenue, with a year-on-year growth of 1.78%[47]. - Gold revenue decreased by 13.75% to ¥4,204,324,394.66, while silver revenue fell by 4.44% to ¥972,761,925.50[47]. - The company's gross profit margin for the non-ferrous metal mining sector was 7.53%, reflecting a slight increase of 0.83% year-on-year[49]. Investments and R&D - The company has maintained a research and development investment ratio of over 3% of its operating income, resulting in multiple patents and awards for technological advancements[33]. - The company is currently investing 230 million yuan in a project to enhance the processing capacity of anode mud and develop systems for the production of antimony, bismuth, tellurium, and selenium[35]. - The company has developed a series of technologies for resource recovery, achieving high recovery rates for multiple elements from complex gold concentrates[35]. Environmental Management - The company has implemented strict safety and environmental management systems to address risks in mining and refining processes[71]. - Environmental monitoring is conducted by dedicated personnel, ensuring compliance with national regulations regarding waste emissions[71]. - The company reported lead emissions of 0.374 mg/m³ and arsenic emissions of 0.253 mg/m³ from the comprehensive utilization system[104]. - The company has established a comprehensive environmental risk prevention and emergency response system, including a 23,000 m³ accident water pool to handle wastewater in case of incidents[110]. Shareholder Information - The total number of shares is 910,400,000, with 91.84% being unrestricted shares[120]. - Yantai Hengbang Group holds 35.87% of shares, totaling 326,603,866 shares, with 320,600,000 shares pledged[126]. - The company experienced a reduction of 15,600,000 restricted shares, resulting in 58,725,000 restricted shares remaining[120]. Corporate Governance - The company has established a comprehensive safety production management system to ensure accountability at all levels[70]. - The company’s organizational structure includes a board of directors and a supervisory board, with a president responsible for daily operations[179]. - The financial statements are prepared in accordance with the enterprise accounting standards and reflect the company's financial status and operating results accurately[185].