Financial Performance - The company's operating revenue for Q3 2022 reached ¥2,077,624,656.17, representing a 299.01% increase year-over-year[3] - Net profit attributable to shareholders for the same period was ¥728,573,111.36, a significant increase of 464.13% compared to the previous year[3] - The net profit after deducting non-recurring gains and losses was ¥724,464,770.75, reflecting a 464.88% year-over-year growth[3] - The company's diluted earnings per share for Q3 2022 was ¥1.5275, reflecting a 434.28% increase year-over-year[3] - Total operating revenue for the period reached CNY 5,489,145,887.86, a significant increase from CNY 1,394,928,462.33 in the previous period, representing a growth of approximately 293%[19] - Net profit for the period was CNY 2,051,263,639.21, a substantial rise from CNY 299,951,405.49 in the same period last year, indicating an increase of approximately 584%[20] - The total comprehensive income attributable to the parent company's owners reached CNY 2,106,411,015.26, compared to CNY 342,545,342.74 in the previous period, indicating significant growth[21] - Basic earnings per share increased to CNY 4.4940 from CNY 0.6780, reflecting a substantial improvement in profitability[21] Assets and Liabilities - The total assets of the company as of September 30, 2022, amounted to ¥9,984,963,560.10, which is a 62.48% increase from the end of the previous year[4] - The total assets of the company reached CNY 9,984,963,560.10, up from CNY 6,145,368,623.20, marking an increase of about 62%[18] - Total liabilities increased to CNY 3,792,884,082.11 from CNY 2,074,474,072.50, representing a growth of approximately 83%[18] - The company's equity attributable to shareholders rose to CNY 6,191,853,170.33, compared to CNY 4,070,468,178.88 in the previous period, reflecting an increase of about 52%[18] Cash Flow and Financing - The company's cash flow from operating activities for the first nine months of 2022 was ¥1,131,059,234.57, showing a 534.63% increase year-over-year[7] - Cash flow from operating activities generated a net amount of CNY 1,131,059,234.57, up from CNY 178,222,578.36 in the previous period, showcasing enhanced operational efficiency[22] - The company raised CNY 1,424,209,250.00 through borrowings, significantly higher than CNY 486,919,244.68 in the previous period, reflecting increased financing activities[23] - The net cash flow from financing activities was CNY 753,319,090.36, compared to CNY 87,680,963.62 in the previous period, indicating a positive trend in financing operations[23] Research and Development - Research and development expenses surged to ¥173,118,130.56, marking a 437.32% increase, driven by new product and technology development[7] - Research and development expenses for the period were CNY 173,118,130.56, significantly higher than CNY 32,219,047.71 in the prior year, indicating an increase of approximately 437%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 59,004[8] - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 15.90% of shares, totaling 72,800,000 shares[8] - The second-largest shareholder, Sun Meichun, holds 5.26% of shares, totaling 24,076,710 shares[8] - The third-largest shareholder, Hong Kong Central Clearing Limited, holds 1.78% of shares, totaling 8,156,436 shares[9] - The fourth-largest shareholder, China Bank Co., Ltd. - Guotai Junan New Energy Mixed Securities Investment Fund, holds 1.56% of shares, totaling 7,158,894 shares[9] - The company has a total of 10 major shareholders, with the top 10 holding significant stakes in the company[10] - The company has not disclosed any known relationships or concerted actions among the other shareholders[10] - The total number of preferred shareholders with restored voting rights is zero[8] Investments and Joint Ventures - The company signed a memorandum of understanding with Grid Metals Corp. to explore the feasibility of jointly developing the Donner Lake lithium mine in Canada[12] - A joint venture agreement was signed with Ningbo Yunsheng Co., Ltd. to acquire rare earth projects in Africa, with a registered capital of RMB 55 million, where the company holds a 55% stake[12] - The company has established a joint venture in Zimbabwe with a registered capital of USD 5 million, focusing on lithium and platinum mining projects[13] - The company acquired 100% equity in Bikita Minerals (Private) Ltd for a total consideration of USD 180 million, which includes various costs related to the transaction[13] - The total lithium resource at Bikita mine has reached 54.515 million tons of ore, equivalent to 1.5605 million tons of lithium carbonate equivalent (LCE)[14] - The company has completed all necessary approvals for the acquisition of Bikita, including regulatory approvals from the Zimbabwe Reserve Bank and the Competition Authority[13] Inventory and Receivables - Accounts receivable rose to approximately RMB 454 million, up from RMB 260 million at the beginning of the year, indicating a growth of 74.5%[16] - Inventory increased significantly to approximately RMB 1.26 billion from RMB 718 million, representing an increase of 75.5%[16] - The company experienced a 416.52% increase in receivables financing, totaling ¥659,330,823.93, primarily due to an increase in bank acceptance bills received[6] Other Financial Metrics - The company reported a credit impairment loss of CNY 15,081,275.92, compared to a loss of CNY 41,183,783.77 in the prior period, showing an improvement[20] - Deferred tax liabilities increased to CNY 504,063,009.73 from CNY 88,384,687.14, indicating a growth of approximately 471%[18] - The company reported cash inflows from investment activities totaling CNY 839,047,315.12, while cash outflows amounted to CNY 2,100,010,791.23, resulting in a net cash flow from investment activities of -CNY 1,260,963,476.11[23] - The company experienced a foreign exchange impact on cash and cash equivalents amounting to CNY 26,530,534.01, compared to -CNY 4,800,195.33 in the previous period, suggesting favorable currency movements[23]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,411,521,231.69, representing a 290.23% increase compared to CNY 874,239,903.76 in the same period last year[12]. - Net profit attributable to shareholders reached CNY 1,322,711,429.01, a significant increase of 663.85% from CNY 173,163,238.17 year-on-year[12]. - The basic earnings per share were CNY 2.9026, up 642.54% from CNY 0.3909 in the previous year[12]. - Total assets at the end of the reporting period amounted to CNY 9,097,802,825.79, reflecting a 48.04% increase from CNY 6,145,368,623.20 at the end of the previous year[12]. - The net assets attributable to shareholders increased to CNY 5,447,425,973.01, a growth of 33.83% compared to CNY 4,070,468,178.88 at the end of the previous year[12]. - The company reported a net cash flow from operating activities of CNY 1,274,168,765.47, which is a 680.15% increase from CNY 163,324,216.47 in the same period last year[12]. - The diluted earnings per share were CNY 2.7860, marking a 612.71% increase from CNY 0.3909 year-on-year[12]. - The weighted average return on net assets was 27.70%, up from 5.16% in the previous year, indicating improved profitability[12]. Business Operations and Strategy - The company is engaged in lithium battery raw material development, rare light metal resource development, and solid mineral exploration, focusing on lithium mining and lithium salt production[17]. - The global demand for lithium is expected to increase significantly, with an estimated demand of approximately 346,000 tons LCE by 2022, driven by the growth in the electric vehicle market[18]. - The company is a key supplier of battery-grade lithium fluoride and high-purity lithium carbonate, positioning itself to benefit from the increasing demand for lithium-ion batteries[20]. - The company anticipates robust growth in its lithium carbonate, lithium hydroxide, and lithium fluoride businesses due to rising demand for lithium-ion batteries[20]. - The company has established a strong competitive advantage in resource-based mining, crucial for securing key mineral reserves for future growth[25]. - The company is actively seeking potential lithium resource projects to increase its lithium resource reserves[52]. Environmental and Social Responsibility - The company has not experienced any environmental pollution incidents to date, adhering strictly to national environmental laws and regulations[89]. - The company has implemented a comprehensive waste management system, including a solid waste storage facility of 3,894 m² and a temporary storage area of 720 m²[89]. - The company emphasizes employee welfare by providing training opportunities and maintaining a performance management system to enhance employee satisfaction[96]. - The company actively engages in social responsibility initiatives, including donations for pandemic relief and support for local communities[98]. - The company donated 520,000 RMB to the Central South University Education Foundation from 2011 to 2020 to support education and research initiatives[98]. - The company contributed 300,000 USD to local communities in Zimbabwe after acquiring the Bikita mine, supporting education, healthcare, and infrastructure[98]. Research and Development - Research and development expenses surged by 569.90% to CNY 103,396,141.60, driven by increased spending on new products and processes[58]. - The company has developed 86 technology patents in the rare light metal sector, including 8 domestic invention patents and 66 foreign patents[43]. - The company’s lithium salt products have entered the global supply chain of Tesla, enhancing its market position[41]. Financial Position and Investments - The company has a budget of 72.31 million CNY for overseas mineral resource exploration in 2022-2023, focusing on lithium and cesium resources in Zimbabwe and Canada[34]. - The company reported a significant increase in intangible assets to ¥1,736,555,907.22, which accounted for 19.09% of total assets, mainly due to the valuation increase from the Bikita project acquisition[63]. - The company has a total of 104 mining rights, including 47 mining rights and 44 exploration rights, with significant resources located in Canada, Zambia, and Zimbabwe[36]. - The company completed the acquisition of 100% ownership of the Bikita mine in Zimbabwe, which has a lithium resource of 849.6 thousand tons LCE[51]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[2]. - The company has established a comprehensive governance structure to protect the rights of investors, particularly minority shareholders[96]. - The company held three shareholder meetings during the reporting period, with investor participation rates of 28.99%, 19.31%, and 24.40% respectively[81]. - The company has committed to not seeking control of Zhongmin Resources for 60 months post-transaction completion, with commitments made by nine shareholders[100]. Risks and Compliance - The company faces risks related to exchange rate fluctuations, trade protection, and changes in overseas investment policies, which could impact its revenue and asset safety[78]. - To mitigate foreign exchange risks, the company uses relatively stable currencies for overseas transactions and sets contract terms to reduce exchange rate exposure[79]. - The company has not engaged in any violations regarding external guarantees during the reporting period[102]. Market Outlook - The recovery of downstream demand and stabilization of lithium prices are expected to enhance the company's market position[19]. - Future performance guidance suggests a positive outlook, with expectations for continued revenue growth and market expansion initiatives[121].

Financial Performance - The company's operating revenue for Q1 2022 reached ¥1,848,026,647.70, representing a 399.02% increase compared to ¥370,330,316.51 in the same period last year[3] - Net profit attributable to shareholders was ¥774,982,238.25, an increase of 848.73% from ¥81,685,965.11 year-on-year[3] - Basic earnings per share rose to ¥2.3821, reflecting an increase of 810.94% compared to ¥0.2615 in the same period last year[3] - Total profit reached RMB 936 million, reflecting a year-on-year increase of 788.24%[10] - Net profit for Q1 2022 was CNY 774,179,224.60, a substantial rise from CNY 80,114,294.08 in Q1 2021, reflecting an increase of approximately 867.5%[16] - The total comprehensive income attributable to the parent company was ¥774,768,344.81, up from ¥84,374,579.23 in the same period last year[17] Cash Flow - The net cash flow from operating activities was ¥163,598,161.73, up 231.12% from ¥49,406,937.10 in the previous year[3] - Cash inflow from operating activities totaled ¥1,095,641,394.73, compared to ¥382,474,461.65 in the previous year, reflecting a substantial increase[19] - The net cash flow from investing activities was -¥647,011,394.43, compared to -¥28,177,076.86 in the same period last year, indicating increased investment outflows[20] - The net cash flow from financing activities was ¥960,030,773.15, significantly higher than ¥7,290,912.80 in Q1 2021, suggesting robust financing activities[20] - The cash and cash equivalents at the end of Q1 2022 amounted to ¥1,616,548,122.84, compared to ¥598,329,577.73 at the end of Q1 2021, indicating strong liquidity[20] Assets and Equity - Total assets at the end of Q1 2022 were ¥7,918,522,027.88, a 28.85% increase from ¥6,145,368,623.20 at the end of the previous year[3] - The company’s total equity attributable to shareholders rose to ¥4,860,072,334.91, a 19.40% increase from ¥4,070,468,178.88 at the end of the previous year[3] - The net assets attributable to shareholders increased to RMB 4.860 billion, a rise of 19.40% from the beginning of the year[10] - Total liabilities increased to CNY 3,058,590,832.74 in Q1 2022 from CNY 2,074,474,072.50 in Q1 2021, representing a growth of approximately 47.5%[15] Research and Development - The company reported a significant increase in research and development expenses, which reached ¥23,585,272.37, a 502.82% rise from ¥3,912,493.43 year-on-year, driven by new product and technology development[5] - Research and development expenses for Q1 2022 were CNY 23,585,272.37, significantly higher than CNY 3,912,493.43 in Q1 2021, reflecting an increase of approximately 502.5%[16] Investments and Acquisitions - The company signed an agreement to acquire 100% equity of African Minerals Ltd and Amzim Minerals Ltd for a base price of USD 18 million[11] - The company holds a 74% stake in Bikita Company, which primarily owns the Bikita lithium mine project in Zimbabwe[12] - The company’s investment activities generated a net cash outflow of ¥647,011,394.43, primarily due to prepayments for the acquisition of the Bikita project[6] Production Capacity - The company has successfully built a new production line for battery-grade lithium hydroxide and lithium carbonate with a capacity of 25,000 tons, which commenced production in November 2021[10]

Financial Performance - The company's operating revenue for 2021 was ¥2,394,085,800.33, representing an increase of 87.67% compared to ¥1,275,709,822.53 in 2020[14]. - The net profit attributable to shareholders for 2021 was ¥558,220,840.05, a significant increase of 220.33% from ¥174,262,749.51 in 2020[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥539,602,829.87, up 255.05% from ¥151,979,789.32 in 2020[14]. - The net cash flow from operating activities for 2021 was ¥654,146,180.88, an increase of 181.64% compared to ¥232,263,311.41 in 2020[14]. - The basic earnings per share for 2021 was ¥1.7717, reflecting an increase of 182.79% from ¥0.6265 in 2020[14]. - The diluted earnings per share for 2021 was ¥1.5432, which is a 146.32% increase from ¥0.6265 in 2020[14]. - The total assets at the end of 2021 were ¥6,145,368,623.20, a growth of 24.91% from ¥4,919,946,732.46 at the end of 2020[15]. - The net assets attributable to shareholders at the end of 2021 were ¥4,070,468,178.88, an increase of 28.56% from ¥3,166,105,697.29 at the end of 2020[15]. - The company achieved a revenue of CNY 239,408.58 million in 2021, representing a year-on-year growth of 87.67%[65]. - The net profit attributable to shareholders reached CNY 55,822.08 million, a significant increase of 220.33% compared to the previous year[65]. Business Operations and Strategy - Since its listing in 2014, the company has shifted its main business focus to the development and utilization of rare light metal resources and lithium battery new energy materials, following acquisitions in 2018 and 2019[11]. - The company operates in solid mineral exploration technology services, mineral rights investment, and mining development, with a significant emphasis on rare metals such as cesium and rubidium[11]. - The company’s main business has evolved to include solid mineral exploration and mining rights development, reflecting strategic growth in the mining sector[11]. - The company is focused on expanding its mining rights through acquisitions and partnerships, enhancing its resource base for future development[53]. - The company is committed to becoming an internationally leading geological exploration enterprise by providing high-quality geological exploration technical services to overseas clients[109]. - The company is focused on solid mineral exploration and mining rights development, ensuring normal production of existing mines and acquiring high-quality lithium, cesium, and rubidium resources globally[109]. Market Position and Product Development - The company is the only global producer and supplier of cesium formate, which is primarily used in high-quality drilling fluids for the oil and gas industry, indicating a strong market position[24]. - The company is positioned to benefit from the increasing recognition of cesium and rubidium in high-tech applications, as the market for cesium and rubidium products is expected to expand significantly[22]. - The company has established a strong competitive advantage in the rare light metal sector, particularly in cesium and rubidium resource development[42]. - The company has developed 86 technology patents in the cesium and rubidium production process, enhancing production reliability and product quality[56]. - The company has a diverse product range in cesium and rubidium salts, including high-value products like cesium iodide and cesium fluoride, catering to a wide array of customer needs[57]. Research and Development - Research and development expenses increased by 87.44% to ¥57,983,524.57, primarily due to increased spending on new products and processes[83]. - The company is developing a preparation technology for 99.99% pure rubidium bicarbonate, with a market demand growth rate of 20% per year[84]. - The company completed the research project on lithium carbonate mother liquor recovery technology in 2021, optimizing processes to effectively recover lithium and reduce production costs[86]. - The company achieved a purity of over 99.95% for lithium benzoate, meeting market quality requirements, with a focus on enhancing lithium salt product offerings[86]. Environmental and Social Responsibility - The company has established pollution control standards for hazardous waste storage and disposal, ensuring compliance with environmental regulations[160]. - The company has not experienced any environmental pollution incidents to date, demonstrating effective pollution control measures[162]. - The company actively participated in social responsibility initiatives, including donations of cash and medical supplies during the COVID-19 pandemic[170]. - The company has committed to fulfilling its social responsibility by supporting charitable activities and poverty alleviation efforts[173]. Governance and Compliance - The company emphasizes the importance of governance, ensuring equal rights for all shareholders and maintaining independent operations from controlling shareholders[116]. - The board of directors consists of 9 members, including 3 independent directors, and has held 7 meetings during the reporting period[116]. - The company has a complete and independent organizational structure, with clear responsibilities across all departments[118]. - The company has not faced any penalties from securities regulatory authorities for its directors, supervisors, and senior management in the past three years[128]. - The company has established a complete and independent financial management system, ensuring no interference from the controlling shareholder[118]. Future Outlook - The company plans to build a new production line for 35,000 tons of battery-grade lithium hydroxide and lithium carbonate in 2023, indicating future growth in the lithium segment[50]. - The company aims to achieve an annual production capacity of 25,000 tons of battery-grade lithium hydroxide and lithium carbonate, along with a 6,000 tons/year lithium fluoride production line[110]. - The company anticipates global lithium demand to increase from 430,000 tons in 2021 to 1,540,000 tons by 2025, indicating a broad market outlook[85].

Financial Performance - The company's revenue for Q3 2021 reached ¥520,688,558.57, representing a 71.01% increase year-over-year[3] - Net profit attributable to shareholders was ¥129,148,838.29, a significant increase of 406.31% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥128,250,352.67, up 456.38% year-over-year[3] - The company reported a basic earnings per share of ¥0.4002, which is a 335.95% increase compared to the same period last year[3] - Total revenue for the third quarter reached ¥1,394,928,462.33, a significant increase from ¥823,295,250.97 in the same period last year, representing a growth of approximately 69.5%[15] - Net profit attributable to the parent company was CNY 302,312,076.46, compared to CNY 100,528,741.39 in Q3 2020, reflecting a significant increase of about 200.5%[17] - Operating profit for the quarter reached CNY 390,548,227.40, up from CNY 130,581,358.50 in the previous year, marking an increase of approximately 199.5%[16] - The total comprehensive income for the quarter was CNY 342,545,342.74, compared to CNY 1,592,228.09 in the same period last year, showing a substantial increase[17] Assets and Liabilities - The total assets as of the end of Q3 2021 amounted to ¥5,624,777,939.78, reflecting a 14.33% increase from the end of the previous year[3] - Current assets totaled ¥2,622,560,288.90 as of September 30, 2021, compared to ¥2,276,652,100.02 at the end of 2020, indicating an increase of about 15.2%[12] - Non-current assets increased to ¥3,002,217,650.88 from ¥2,643,294,632.44, reflecting a growth of approximately 13.5%[13] - Total liabilities rose to ¥1,889,450,329.03 from ¥1,747,207,365.79, which is an increase of about 8.1%[15] - The company’s total liabilities increased by 70.78% to ¥354,439,862.68, primarily due to increased short-term bank loans[5] - The company’s contract liabilities rose by 204.00% to ¥46,970,694.15, attributed to an increase in customer prepayments[5] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥178,222,578.36, showing a 113.00% increase year-over-year[6] - The company reported a net cash flow from operating activities of CNY 178,222,578.36, an increase from CNY 83,671,021.82 in Q3 2020, representing a growth of approximately 112.5%[19] - The net cash flow from investment activities was -116,707,261.37 CNY, compared to -717,682,205.17 CNY in the previous period, indicating an improvement[20] - The total cash inflow from financing activities was 499,532,512.18 CNY, down from 1,684,015,344.68 CNY in the previous period[20] - The net cash flow from financing activities was 87,680,963.62 CNY, compared to 703,057,619.01 CNY in the previous period, showing a significant decrease[20] - The cash and cash equivalents at the end of the period amounted to 714,359,178.11 CNY, up from 236,424,716.06 CNY in the previous period[20] - The company reported a cash increase of 144,396,085.28 CNY during the quarter, compared to an increase of 64,792,200.93 CNY in the previous period[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 44,567, with the largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holding 16.11% of shares, equivalent to 52,000,000 shares[7] - Sun Meichun, a natural person, holds 7.10% of shares, totaling 22,927,650 shares, with 19,610,737 shares under lock-up conditions[7] - The top ten shareholders hold a significant portion of shares, with the largest shareholder holding over 16%[9] Research and Development - Research and development expenses increased by 51.74% to ¥32,219,047.71, driven by new product and technology development[6] - Research and development expenses amounted to CNY 32,219,047.71, compared to CNY 21,233,093.77 in the same quarter last year, indicating a rise of about 51.8%[16] International Projects - The company is actively promoting several projects in Zambia, including a hospital construction contract valued at USD 220 million, with a completion period of 36 months[10] - The total amount for the Zambia Army project is USD 247,291,522, also with a planned duration of 36 months[10] - The company has a project for constructing 14 markets and bus stations in Zambia, with a contract amount of USD 243,416,589 and a construction period of 36 months[10] - The company has engaged in financing and construction contracts in Zambia, indicating a strategy for market expansion and international projects[10] Convertible Bonds - The company has issued 800,000 convertible bonds with a total issuance amount of RMB 80 million, with a conversion period of 6 years starting from December 17, 2020[11] - As of September 30, 2021, 2,741,000 yuan of the convertible bonds have been converted into 177,718 shares, reducing the bond quantity by 27,410[11] - The company has a total of 1,515,323 convertible bonds remaining unconverted, accounting for 18.94% of the total issuance[11] Other Information - The company did not require adjustments to the beginning balance sheet items under the new leasing standards, as the leases were operating leases to be completed within 12 months[21] - The third quarter report was not audited, indicating that the figures presented are unaudited[22]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 874,239,903.76, representing a 68.51% increase compared to CNY 518,821,217.66 in the same period last year[11]. - The net profit attributable to shareholders of the listed company reached CNY 173,163,238.17, a significant increase of 130.82% from CNY 75,021,023.57 in the previous year[11]. - The net profit after deducting non-recurring gains and losses was CNY 163,324,216.47, up 180.81% from CNY 58,162,821.26 year-on-year[11]. - The net cash flow from operating activities was CNY 315,946,076.32, an increase of 198.14% compared to CNY 105,972,199.83 in the same period last year[11]. - The basic earnings per share for the reporting period was CNY 0.5473, reflecting a 102.78% increase from CNY 0.2699 in the previous year[11]. - The gross profit margin for the rare light metal business improved to 55.85%, an increase of 7.25% year-on-year[47]. - The company achieved operating revenue of 874,239,903.76 yuan, a year-on-year increase of 68.51%[45]. - Net profit attributable to shareholders reached 17,316.32 million yuan, up 130.82% compared to the same period last year[44]. - The rare light metal business (lithium, cesium, rubidium) accounted for 71.43% of total revenue, growing by 118.91% year-on-year[46]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 4,971,092,690.75, a slight increase of 1.04% from CNY 4,919,946,732.46 at the end of the previous year[11]. - The total liabilities decreased to CNY 1,431,364,616.00 from CNY 1,747,207,365.79[126]. - Owner's equity increased to CNY 3,539,728,074.75, up from CNY 3,172,739,366.67[127]. - The company's long-term borrowings reached ¥610,303,857.50, accounting for 12.28% of total liabilities, an increase of 0.16% from the previous year[48]. - The total equity at the end of the reporting period is CNY 2,493,429,915.96, with a capital reserve of CNY 2,071,633,349.50 and retained earnings of CNY 20,863,167.42[149]. Market Position and Business Operations - The main business activities include the development and utilization of rare light metals (lithium, cesium, rubidium), solid mineral exploration technical services, and mining rights development[16]. - The company is a leading domestic supplier of battery-grade lithium fluoride and high-purity lithium carbonate, having successfully entered the Japanese and South Korean markets[20]. - The company operates over 20 subsidiaries and has a strong market reputation, ranking high in the Chinese non-ferrous metal exploration technology service sector[21]. - The company is positioned to benefit from the increasing global emphasis on cesium and rubidium due to their applications in various high-tech fields[17]. - The company is actively expanding its market presence in Europe, AMEA, and North America through its cesium formate business operations[24]. Production and Capacity Expansion - The company has a production capacity of 3,000 tons per year for battery-grade lithium fluoride, which is a key raw material for lithium-ion batteries, and has successfully entered the Tesla supply chain[29]. - The company plans to launch a new production line for 25,000 tons per year of battery-grade lithium hydroxide and lithium carbonate in the third quarter, aiming for full production within the year[29]. - The company plans to expand lithium fluoride production capacity from 3,000 tons/year to 6,000 tons/year by the end of the year[44]. - The company is currently constructing a new production line with an annual capacity of 15,000 tons of battery-grade lithium hydroxide and 10,000 tons of battery-grade lithium carbonate[68]. Environmental and Social Responsibility - The company has a wastewater treatment station with a processing capacity of 65 m³/h (1560 m³/d) to ensure wastewater meets discharge standards[66]. - The company has implemented an automatic monitoring system for wastewater and exhaust gases to ensure compliance with environmental standards[66]. - The company is committed to protecting the rights of shareholders, especially minority shareholders, by adhering to relevant laws and regulations[71]. - The company has established a "cesium formate ecological operation system" to effectively utilize cesium resources while reducing operational costs[24]. - The company has implemented a sustainable development plan focusing on energy use, waste reduction, and social and environmental activities[72]. Research and Development - Research and development expenses increased by 12.44% to 15,434,574.18 yuan[45]. - The company holds 129 technology patents, including 12 domestic invention patents and 109 foreign patents, showcasing its strong R&D capabilities in lithium and cesium salt production[36]. - The company has patented a process for producing high-purity lithium carbonate and battery-grade lithium fluoride, which features high recovery rates and low costs[27]. Shareholder and Equity Information - The total number of shares increased from 306,388,428 to 322,625,627, reflecting an increase of 16,237,199 shares due to the conversion of convertible bonds and the issuance of restricted stock[103]. - The total number of ordinary shareholders at the end of the reporting period was 20,358, with a significant shareholder, China Nonferrous Mining Group Co., Ltd., holding 55,712,343 shares, representing 17.27% of the total shares[107]. - The company has not engaged in any major related party transactions during the reporting period[80]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[77]. Risks and Challenges - The company faces risks related to exchange rate fluctuations, trade protection, and changes in foreign investment policies, which could affect overseas business operations[57]. - To mitigate foreign exchange risks, the company uses stable currencies for overseas transactions and sets contract terms to reduce exchange losses[59]. - The company’s financial report indicates a need for strategic adjustments to improve profitability and equity growth moving forward[145].

Financial Performance - The company's operating revenue for 2020 was ¥1,275,709,822.53, representing a 9.51% increase compared to ¥1,164,933,484.85 in 2019[13]. - The net profit attributable to shareholders for 2020 was ¥174,262,749.51, a 24.44% increase from ¥140,040,237.21 in 2019[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥151,979,789.32, up 24.49% from ¥122,078,087.63 in 2019[13]. - The company's total assets at the end of 2020 were ¥4,919,946,732.46, a 20.13% increase from ¥4,095,560,486.40 at the end of 2019[14]. - The net assets attributable to shareholders at the end of 2020 were ¥3,166,105,697.29, reflecting a 17.15% increase from ¥2,702,545,865.03 at the end of 2019[14]. - The basic earnings per share for 2020 was ¥0.6265, a 20.34% increase from ¥0.5206 in 2019[14]. - The company reported a net cash flow from operating activities of ¥232,263,311.41 in 2020, a decrease of 7.13% from ¥250,081,933.01 in 2019[13]. - The company achieved a total operating revenue of 1,275,709,822.53 CNY, representing a year-on-year growth of 9.51%[56]. - The net profit attributable to shareholders reached 17,426.27 million CNY, an increase of 24.44% compared to the previous year[56]. Dividend Policy - The company reported a profit distribution plan for 2020, proposing a cash dividend of 0.00 CNY per 10 shares, with no bonus shares issued[3]. - In 2020, the company distributed cash dividends of 0.50 yuan per 10 shares, totaling 15,319,421.40 yuan, which represents 8.79% of the net profit attributable to ordinary shareholders[104]. - The cash dividend policy has been consistently executed over the past three years, with cash dividends of 0.50 yuan per 10 shares in 2018, 2019, and 2020[102]. - The cash dividend distribution plan must be approved by at least two-thirds of the voting rights at the shareholders' meeting if there are adjustments to the profit distribution policy[101]. - The company has committed to not distributing any stock dividends or increasing capital reserves for the year 2020[106]. - The cumulative net profit targets for the years ending December 31, 2018, 2019, and 2020 are set at no less than CNY 160 million, CNY 340 million, and CNY 540 million respectively[108]. Business Expansion and Acquisitions - The company acquired Dongpeng New Materials in 2018 and Cabot Specialty Fluids Division in 2019, expanding its business to include the R&D, production, and sales of rare light metal raw materials such as lithium salt, cesium salt, and rubidium salt[9]. - The company has committed to invest a total of RMB 77,800 million in the acquisition of Cabot's special fluids division, with an actual investment of RMB 77,917.45 million, achieving an investment progress of 100.15%[86]. - The company has established a wholly-owned subsidiary, Beijing Zhongmin Resource Geological Exploration Co., Ltd., with a registered capital of CNY 30 million, which was included in the consolidated financial statements from its establishment on June 8, 2020[115]. Market Position and Product Development - The company is the world's largest producer and supplier of cesium and rubidium products, with a complete cesium industry chain[21]. - The company is a major producer of battery-grade lithium fluoride, an important raw material for lithium-ion batteries, utilizing a patented production process[25]. - The company has developed a high-purity rubidium salt production process, which has received a patent, enhancing its product offerings in the rubidium market[23]. - The company has an annual production capacity of 3,000 tons of battery-grade lithium fluoride, which has gained a high reputation in the market and successfully entered Tesla's supply chain[27]. - The company has an annual production capacity of 6,000 tons of battery-grade lithium carbonate, which is produced through an improved carbonization and purification process[27]. - The company is focused on expanding its cesium formate application in the domestic oil and gas sector due to increasing environmental awareness and policy enforcement[29]. - The company is positioned to expand its cesium and rubidium salt products into various sectors, including medical, aerospace, and energy efficiency, supported by national policies[91]. Research and Development - The company holds a total of 129 technology patents, including 12 domestic invention patents and 109 foreign patents, showcasing its strong R&D capabilities in lithium and cesium production processes[43]. - The company has developed advanced drilling technologies and holds 29 technical patents, positioning it as a leader in overseas geological exploration[47]. - The company has implemented a scientific compensation and performance management system for its employees[185]. Environmental Responsibility - The company has committed to social responsibility, including employee welfare and environmental protection initiatives[135]. - The company operates seven exhaust gas purification towers, ensuring emissions meet standards for SO2 and nitrogen oxides[141]. - The company has a solid waste temporary storage area of 720 m² and a hazardous waste temporary warehouse of 132 m²[141]. - The company has not experienced any environmental pollution incidents to date, adhering strictly to national environmental laws and regulations[141]. - The company has implemented an environmental monitoring plan to ensure compliance with pollution discharge standards[143]. Corporate Governance - The company has a complete and independent financial management system, with no interference from the controlling shareholder[192]. - The independent directors did not raise any objections to company matters during the reporting period[196]. - The independent directors' suggestions were adopted by the company, indicating effective governance practices[198]. - The company has established a comprehensive performance evaluation system for senior management, linking compensation to performance[200]. Employee Information - The total number of employees in the company is 1,081, with 739 in production, 159 in technical roles, and 33 in sales[183]. - The company has a total of 63 employees with a master's degree or higher, and 157 with a bachelor's degree[184]. - The total remuneration for the chairman and president, Wang Pingwei, was 929,000 RMB[181]. - The total remuneration for the vice chairman, Sun Meichun, was 2,188,900 RMB[181]. - The total remuneration for the vice president and CFO, Xiao Xiaoxia, was 678,000 RMB[181].

Financial Performance - The company's operating revenue for 2020 was ¥1,275,709,822.53, representing a 9.51% increase compared to ¥1,164,933,484.85 in 2019[13]. - The net profit attributable to shareholders for 2020 was ¥174,262,749.51, which is a 24.44% increase from ¥140,040,237.21 in 2019[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥151,979,789.32, up 24.49% from ¥122,078,087.63 in 2019[13]. - The company's basic earnings per share for 2020 was ¥0.6265, a 20.34% increase from ¥0.5206 in 2019[14]. - The total assets at the end of 2020 were ¥4,919,946,732.46, reflecting a 20.13% increase from ¥4,095,560,486.40 at the end of 2019[14]. - The net assets attributable to shareholders at the end of 2020 were ¥3,166,105,697.29, which is a 17.15% increase from ¥2,702,545,865.03 at the end of 2019[14]. - The company reported a net cash flow from operating activities of ¥232,263,311.41 in 2020, a decrease of 7.13% from ¥250,081,933.01 in 2019[13]. - The company achieved significant revenue and profit growth in 2020 despite the global economic downturn caused by the COVID-19 pandemic[49]. Dividend Policy - The company reported a profit distribution plan for 2020, proposing a cash dividend of 0.00 CNY per 10 shares, with no bonus shares issued[3]. - The company plans to distribute cash dividends of CNY 0.50 per share (including tax) for the fiscal year 2020, based on a total share capital of 306,388,428 shares[106]. - The total cash dividend amount for 2020 is CNY 15,319,421.40, which represents 8.79% of the net profit attributable to ordinary shareholders[104]. - The company has consistently implemented cash dividends for three consecutive years, with the same dividend amount of CNY 0.50 per share for 2018, 2019, and 2020[102][103]. - The cash dividend policy complies with the company's articles of association and has been clearly communicated to shareholders, ensuring transparency and adherence to regulations[102]. - The cash dividend distribution plan requires approval from the shareholders' meeting, with independent directors and supervisory board providing their opinions prior to the proposal[101]. - The cash dividends are aimed at balancing immediate shareholder interests with the company's long-term development needs[106]. Acquisitions and Business Expansion - The company acquired Dongpeng New Materials in 2018 and Cabot Specialty Fluids Division in 2019, expanding its business to include the R&D, production, and sales of rare light metal raw materials such as lithium salts, cesium salts, and rubidium salts[9]. - The company has established over 20 subsidiaries domestically and internationally, enhancing its competitive advantage in the non-ferrous metal exploration technology service market[38]. - The company completed the acquisition of Cabot's Special Fluids Division with a total investment of RMB 77,800 million, achieving an investment progress of 100.15% as of the end of the reporting period[86]. - The company is actively promoting its ongoing projects in Zambia, indicating a commitment to market expansion and development[136]. Mining and Resource Management - The company holds a total of 93 mining rights, including 36 mining rights and 43 exploration rights, with significant resources in Canada and Zambia[31]. - The Tanco mine in Canada has an unmined cesium ore resource of 117,200 tons and a lithium ore resource of 2,083,450 tons with an average Li2O grade of 3.146%[31]. - The company has discovered a total copper ore volume of 30,469,000 tons at the Kifuma copper mine in Zambia, with a copper metal content of 222,700 tons and an average grade of 0.73%[32]. - The company has identified iron ore resources of 348 million tons at the Kamathik iron mine in Zambia, with an average TFe grade of 46.38%[33]. - The company is focused on expanding its mining rights and enhancing resource evaluation to support its rare light metal business segment[31]. Research and Development - The company holds 129 technology patents, including 12 domestic invention patents and 109 foreign patents, showcasing its strong R&D capabilities in lithium and cesium salts[43]. - The company focused on technology research and development, achieving significant progress in various projects related to lithium and tantalum resources[70]. - The company has developed advanced drilling technologies and holds 29 technical patents, positioning it as a leader in overseas geological exploration[47]. Environmental Responsibility - The company is classified as a key pollutant discharge unit and has implemented various pollution control measures[132]. - The company has invested in environmentally friendly production lines for lithium hydroxide and lithium carbonate, using natural gas as an industrial fuel[129]. - The wastewater treatment station has a processing capacity of 65 m³/h (1,560 m³/d) to ensure compliance with discharge standards[133]. - The company has not experienced any environmental pollution incidents to date, adhering strictly to environmental regulations[134]. - The company has completed an emergency response plan for environmental incidents, which was filed with the local environmental protection bureau[135]. Corporate Governance - The company emphasizes the importance of accurate and complete financial reporting, with key personnel responsible for financial oversight[2]. - The company has engaged Da Xin Accounting Firm for auditing services during the reporting period[10]. - The company has a continuous supervision agreement with CITIC Securities Co., Ltd. for the period from July 7, 2020, to December 31, 2021[11]. - The company’s financial advisor during the reporting period was also CITIC Securities Co., Ltd.[12]. - The company has established a performance management system to enhance employee satisfaction and welfare[129]. Market Trends and Future Outlook - The demand for lithium-ion batteries is driven by the explosive growth of electric vehicles, with the global power battery sector becoming the largest increment in consumer electronics, power, and energy storage[37]. - The company anticipates significant growth in the lithium battery industry driven by the development of electric vehicles, which will benefit its lithium salt business[91]. - The company is positioned to expand its cesium and rubidium salt products into various sectors, including medical, aerospace, and energy efficiency, supported by national policies[91]. - The company anticipates stable growth in demand for lithium-ion batteries, driven by advancements in consumer electronics and renewable energy sectors[37]. Shareholder Engagement - The company actively engages with shareholders, particularly minority shareholders, to gather feedback and address concerns regarding dividend distribution[101]. - The annual shareholders meeting on May 8, 2020, had an investor participation rate of 36.79%[187]. - The first extraordinary shareholders meeting on November 23, 2020, had an investor participation rate of 26.73%[187]. Financial Management - The company implemented a "fund pool" management strategy to enhance financial efficiency and achieved a production and sales rate of over 90% in raw material procurement and inventory management[51]. - The company reported a total cash balance of ¥636,777,128.42, with certain assets pledged as collateral for bank loans[79]. - The company has a strong focus on resource-based mining, emphasizing the strategic significance of mineral rights development for its rare light metal business[38].