欢迎进入紫金矿业2024年一季报业绩交流会您已成功加入会议感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始大家好欢迎参加紫禁矿业2024年一季报业绩较力会目前所有参会者均处于静音状态下面开始播报声明本次会议仅服务于邀请参会的广大投资者会议PPT音频及文字记录的内容仅供参会者内部使用不得公开发布 资金矿业未授权任何媒体转发此次会议相关内容未经允许和授权的转载转发均属侵权资金矿业将保留追究其法律责任的权利资金矿业不承担因转载转发而产生的任何损失和责任市场有风险投资需谨慎提示广大投资者谨慎作出投资决策在会议开始前我们提醒各位投资者 在主讲嘉宾发言结束后将留有提问时间下面有请公司领导发言谢谢好的线上的各位飞行师各位投资人各位关心子晶的各位人士大家上午好我是子晶矿业的首席行业研究员黄甫今天非常荣幸的跟大家举办一个线上的关于我们一季度业绩的一个说明会 现在由我这边也介绍一下我们参会的各位领导和紫荆的同事 ...

Financial Performance - Total revenue for Q1 2024 was RMB 74,776,621,392, a decrease of 0.22% compared to the same period last year[6] - Net profit for Q1 2024 reached RMB 7,648,878,108, representing an increase of 11.23% year-on-year[6] - The net profit attributable to shareholders was RMB 6,260,843,273, up by 15.05% compared to the previous year[6] - Basic earnings per share for Q1 2024 were RMB 0.238, an increase of 14.98% compared to the same period last year[6] - The overall gross profit margin improved to 16.61% in Q1 2024 from 15.53% in Q1 2023, while the mining enterprise gross profit margin increased to 54.50% from 53.53%[17] - Operating profit for Q1 2024 increased to CNY 9,080,904,214, representing a growth of 10.67% compared to CNY 8,203,424,112 in Q1 2023[21] - Net profit for the period reached CNY 8,828,355,514, up from CNY 8,109,793,730, indicating a year-over-year increase of 8.84%[21] Assets and Liabilities - The total assets as of the end of Q1 2024 were RMB 355,906,653,868, reflecting a growth of 3.76% from the end of the previous year[7] - Total current assets as of March 31, 2024, amounted to 82.60 billion CNY, an increase from 77.63 billion CNY at the end of 2023[18] - The total liabilities increased to ¥73,630,275,987 in Q1 2024 from ¥73,477,396,511 in Q1 2023[27] - Non-current liabilities totaled CNY 120,069,122,618, a slight decrease from CNY 120,460,476,589, down 0.32%[20] - The total equity attributable to shareholders increased to CNY 116,677,039,800 from CNY 107,505,943,323, representing a growth of 8.09%[20] Cash Flow - The net cash flow from operating activities was RMB 8,172,074,230, up by 4.38% year-on-year[6] - Cash flow from operating activities for Q1 2024 was ¥8,172,074,230, compared to ¥7,829,053,840 in Q1 2023, indicating a growth of 4.4%[23] - The company reported a significant increase in cash and cash equivalents, totaling 21.15 billion CNY in Q1 2024, compared to 18.45 billion CNY in Q4 2023[18] - The company's cash and cash equivalents at the end of Q1 2024 stood at CNY 4,809,337,594, an increase from CNY 2,934,522,921 at the end of Q1 2023[31] - The company experienced a cash outflow from investing activities of CNY 2,171,472,293, a substantial increase from CNY 267,998,830 in Q1 2023, resulting in a net cash flow from investing activities of -CNY 536,952,508[31] Production and Operations - In Q1 2024, the company achieved a gold production of 16,805 kg, a 5% increase year-over-year, while copper production rose by 5% to 262,649 tons[13] - The company produced 163,026 tons of copper concentrate in Q1 2024, up from 151,390 tons in Q1 2023, with a unit price of 51,194 CNY/ton[17] - The company’s copper smelting output was 190,805 tons, up from 174,276 tons in the same period last year[14] - The gross margin for mining operations was 54.50%, reflecting a year-over-year increase of 0.97 percentage points and a quarter-over-quarter increase of 8.88 percentage points[13] - Zinc production decreased by 9% year-over-year to 98,453 tons, while silver production was 102,014 kg, showing a slight decrease from the previous year[14] Shareholder Information - The top ten shareholders include Minxi Xinghang State-owned Assets Investment and Operation Co., holding 23.11% of shares, and Hong Kong Central Clearing Limited, holding 21.73%[10] - The company has a total of 345,936 common shareholders at the end of the reporting period[10] Strategic Focus - The company is committed to maintaining operational efficiency and exploring new market opportunities to enhance shareholder value[13] - The company plans to continue focusing on quality improvement, cost control, and efficiency enhancement in future operations[16] - The company’s management highlighted a focus on expanding market presence and enhancing operational efficiency in future strategies[32]

证券代码：601899 股票简称：紫金矿业 编号：临 2024-035 紫金矿业集团股份有限公司 第八届董事会第七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 表决结果：同意 13 票，反对 0 票，弃权 0 票。 具体内容详见公司同日披露于上海证券交易所网站及公司网站的公告。 二、审议通过《关于改革办公室机构调整的议案》 表决结果：同意 13 票，反对 0 票，弃权 0 票。 三、审议通过《关于对外捐赠的议案》 表决结果：同意13票，反对0票，弃权0票。 特此公告。 紫金矿业集团股份有限公司 董 事 会 紫金矿业集团股份有限公司（以下简称"公司"）第八届董事会第七次会议于 2024 年 4 月 22 日在公司上杭总部和厦门分部以现场和视频相结合的方式召开。会 议应出席董事 13 名，实际出席董事 12 名，董事林红英因公务出差，已审核书面 议案，形成明确的意见，并书面委托董事谢雄辉代为表决，本次会议有效表决票 13 票，公司监事及高管列席会议。本次会议的召集和召开程序符合《公司法》和 《公司章程》的有关规定 ...

Financial Performance - Total revenue for Q1 2024 was CNY 74.78 billion, a decrease of 0.22% compared to the same period last year[4] - Net profit for Q1 2024 reached CNY 7.65 billion, representing an increase of 11.23% year-on-year[4] - The net profit attributable to shareholders of the listed company was CNY 6.26 billion, up 15.05% from the previous year[4] - Basic earnings per share for Q1 2024 were CNY 0.238, a rise of 14.98% compared to the same period last year[4] - The company reported a revenue of 74.777 billion CNY in Q1 2024, a slight decrease of 0.22% year-on-year, but a 9% increase compared to Q4 2023[11] - The net profit attributable to shareholders for Q1 2024 was 6.261 billion CNY, reflecting a 15% increase year-on-year and a 26% increase quarter-on-quarter[11] - Total operating revenue for Q1 2024 was CNY 74.78 billion, a slight decrease of 0.22% from CNY 74.94 billion in Q1 2023[19] - Net profit for Q1 2024 reached CNY 7.65 billion, an increase of 11.19% compared to CNY 6.88 billion in Q1 2023[20] - Earnings per share (EPS) for Q1 2024 was CNY 0.238, up from CNY 0.207 in Q1 2023, reflecting a growth of 14.99%[20] Assets and Liabilities - The company's total assets at the end of Q1 2024 were CNY 355.91 billion, an increase of 3.76% from the end of the previous year[5] - Total liabilities increased to CNY 207.48 billion, up from CNY 204.64 billion year-over-year[18] - Total equity rose to CNY 148.43 billion, compared to CNY 138.36 billion in the previous year, indicating a growth of 7.99%[18] - The company reported a total asset value of 355.91 billion RMB as of March 31, 2024, compared to 343.01 billion RMB at the end of 2023[17] - The total current assets increased to 82.60 billion RMB in Q1 2024, up from 77.63 billion RMB in Q4 2023, primarily driven by an increase in cash and inventory[16] - The total inventory value rose to 30.57 billion RMB in Q1 2024, compared to 29.29 billion RMB in Q4 2023, indicating a strategic buildup of resources[16] - Long-term equity investments increased to 32.69 billion RMB in Q1 2024, up from 31.63 billion RMB in Q4 2023, reflecting ongoing investment strategies[17] - The company's short-term borrowings rose to 24.16 billion RMB in Q1 2024, compared to 20.99 billion RMB in Q4 2023, indicating increased leverage[17] Production and Sales - In Q1 2024, the company achieved a gold production of 16,805 kg, a 5% increase year-on-year, while copper production rose by 5% to 262,649 tons[11] - Zinc production decreased by 9% year-on-year to 98,453 tons, while the company maintained a stable production of iron concentrate at 53.56 million tons[12] - The company’s copper smelting output reached 190,805 tons in Q1 2024, an increase from 174,276 tons in the same period last year[12] - In Q1 2024, gold ingot sales volume was 9,448 kg with an average selling price of 472.74 RMB/g, resulting in a gross margin of 41.47% compared to 33.44% in Q4 2023[15] - Copper concentrate sales reached 163,026 tons with an average selling price of 51,194 RMB/ton, achieving a gross margin of 63.77%, up from 56.41% in Q4 2023[15] Cash Flow - The net cash flow from operating activities was CNY 8.17 billion, an increase of 4.38% year-on-year[4] - The company reported cash inflows from operating activities of ¥81,070,514,013, a decrease of 2.6% compared to ¥83,273,832,312 in Q1 2023[21] - The cash outflows from operating activities totaled ¥72,898,439,783, resulting in a net cash flow from operating activities of ¥8,172,074,230, compared to ¥7,829,053,840 in the same period last year[21] - The company experienced a net cash outflow from investing activities of ¥7,890,822,459, slightly higher than the outflow of ¥7,594,231,666 in Q1 2023[22] - Cash inflows from financing activities amounted to ¥16,892,871,372, an increase from ¥16,083,449,937 in Q1 2023[22] - The net cash flow from financing activities was ¥2,403,036,000, a significant improvement from a net outflow of ¥1,586,072,335 in the previous year[22] Strategic Focus - The company is focusing on quality improvement, cost control, and efficiency enhancement to manage rising production costs effectively[14] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[14] - The company plans to expand its market presence and invest in new technologies to enhance production efficiency and product offerings in the upcoming quarters[15] - The company plans to continue investing in new technologies and market expansion strategies to drive future growth[21] Research and Development - Research and development expenses for Q1 2024 were CNY 326.10 million, slightly down from CNY 327.51 million in Q1 2023[19] - Research and development expenses for Q1 2024 were CNY 94,416,571, down from CNY 101,576,727 in Q1 2023, reflecting a decrease of 7.1%[26]

（一）公司2024年第一季度报告编制和审议程序符合法律、法规、公司章程 和公司内部管理制度的各项规定。 证券代码：601899 股票简称：紫金矿业 编号：临 2024-036 紫金矿业集团股份有限公司 第八届监事会第七次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 紫金矿业集团股份有限公司（以下简称"公司"）第八届监事会第七次会议于 2024年4月22日在公司上杭总部、厦门分部以现场方式召开，会议应出席监事5名， 实际出席监事5名，本次会议有效表决票5票。会议的召集和召开符合《公司法》和 《公司章程》的有关规定，会议表决合法有效。监事会主席林水清先生主持会议， 以投票表决方式审议通过了以下议案： 审议通过《公司2024年第一季度报告》 经监事会认真审核董事会编制的《公司2024年第一季度报告》，提出如下书 面审核意见： 1 （二）公司严格按照股份制公司财务制度规范运作，公司2024年第一季度报 告的内容和格式符合中国证监会和上海证券交易所的各项规定，所包含的信息能 从各个方面真实地反映出公司2024年第一季度的 ...

证券代码：601899 股票简称：紫金矿业 编号：临 2024-034 紫金矿业集团股份有限公司 公司分配股票红利、资本公积转增等情形所衍生取得的股份及因持有公司股份而 获得的现金分红，亦应遵守上述股份锁定安排。 公司将持续关注 2023 年员工持股计划的实施进展情况，并按照相关法律法规 的规定及时履行信息披露义务。敬请广大投资者注意投资风险。 特此公告。 紫金矿业集团股份有限公司（以下简称"公司"）于 2023 年 11 月 14 日召开第 八届董事会 2023 年第 16 次临时会议、第八届监事会 2023 年第 4 次临时会议，并 于 2023 年 12 月 8 日召开 2023 年第一次临时股东大会，审议通过了《关于公司 <2023 年员工持股计划(草案)>及其摘要的议案》及其相关议案，具体内容详见公 司分别于 2023 年 11 月 15 日和 2023 年 12 月 9 日在上海证券交易所网站 （www.sse.com.cn）披露的相关公告。 根据中国证监会《关于上市公司实施员工持股计划试点的指导意见》及《上海 证券交易所上市公司自律监管指引第 1 号——规范运作》的相关规定，现将公司 2023 ...

证券代码：601899 证券简称：紫金矿业 公告编号：临 2024-033 紫金矿业集团股份有限公司 关于召开 2023 年年度股东大会、2024 年第一次 A 股类别股东 大会、2024 年第一次 H 股类别股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2023 年年度股东大会、2024 年第一次 A 股类别股东大会、2024 年第一次 H 股类别 股东大会 2023 年年度股东大会召开的日期时间：2024 年 5 月 17 日 9 点 00 分 2024 年第一次 A 股类别股东大会召开的日期时间：2024 年 5 月 17 日 10 点 00 股东大会召开日期：2024年5月17日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 分 二、 会议审议事项 2024 ...

Investment Rating - The investment rating for Zijin Mining (601899.SH) is "Buy" (maintained) with a market price of 17.01 CNY [1]. Core Views - The report highlights that Zijin Mining's revenue for 2023 reached 293.403 billion CNY, a year-on-year increase of 8.54%, while the net profit attributable to shareholders was 21.119 billion CNY, up 5.38% year-on-year [7][8]. - The company's performance was driven by increased production and prices of its main products, although rising costs have pressured profitability [8][9]. - The report emphasizes the company's ongoing exploration and resource acquisition efforts, which are expected to support future growth [10][12]. Financial Performance Summary - **Revenue and Profit**: In 2023, Zijin Mining achieved a revenue of 293.403 billion CNY, with a net profit of 21.119 billion CNY. The fourth quarter saw a revenue of 68.395 billion CNY, a year-on-year increase of 3.41% [7][8]. - **Production Volumes**: The company produced 803,400 tons of copper (up 10.47% YoY), 648.4 tons of gold (up 15.97% YoY), and 411.4 tons of silver (up 3.91% YoY) in 2023 [8][9]. - **Cost Analysis**: The production costs for gold and copper increased due to various factors, including currency fluctuations and rising fuel prices. For instance, the cost of gold ingots was 286.09 CNY per gram (up 13.78% YoY) [8][9]. - **Future Projections**: The report projects that Zijin Mining will achieve a net profit of 26.018 billion CNY in 2024, with expected revenues of 356.417 billion CNY [13]. Growth Drivers - **Project Development**: Key projects in copper and gold are progressing, with significant production capacity expected to come online in the next few years. For example, the Kamoa Copper Mine in the Democratic Republic of Congo is anticipated to reach a capacity of over 600,000 tons per year by Q2 2024 [12]. - **Resource Expansion**: The company has been actively acquiring new resources, including a 48.59% stake in the Juno Copper Mine in Tibet, which adds significant copper resources [11][12]. - **Market Trends**: The report notes a bullish outlook for gold and copper prices, driven by macroeconomic factors and increasing demand from the renewable energy sector [12][13].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 20.67 HKD, representing a potential upside of 23.2% from the current price of 16.78 HKD [2][4]. Core Insights - The company's performance in 2023 met expectations, with significant increases in copper and gold production, and rising prices for these metals, indicating substantial future growth potential [1]. - The company achieved total revenue of 293.4 billion RMB in 2023, a year-on-year increase of 8.54%, and a net profit attributable to shareholders of 21.12 billion RMB, up 5.38% year-on-year, marking historical highs for both metrics [1]. - The report highlights the expected production plans for 2024, projecting copper production at 1.11 million tons and gold production at 73.5 tons, among other minerals, indicating a sustained growth trajectory [1]. Financial Performance Summary - Revenue for 2023 was 293.4 billion RMB, with a growth rate of 9% compared to 2022 [5]. - The net profit attributable to shareholders for 2023 was 21.12 billion RMB, reflecting a 5.4% increase from the previous year [5]. - The average selling price for copper concentrate was 49,406 RMB per ton, up 3.95% year-on-year, while the average selling price for gold bars was 433 RMB per gram, an increase of 12.28% [1][5]. - The company’s gross margin for 2023 was 15.81%, slightly improved from the previous year, while the mineral product gross margin was 49.09%, down approximately 5 percentage points [1]. Future Outlook - The report anticipates continued price increases for copper and gold due to tightening supply and recovering demand, which will support the company's profitability [1]. - The projected revenue for 2024 is 328.41 billion RMB, with net profit expected to reach 27.75 billion RMB, indicating a growth rate of 31.4% [5][6].

Investment Rating - The investment rating for the company is "Buy" [2][3]. Core Views - The company achieved a record copper production of 1 million tons in 2023, marking it as the only Chinese company to surpass this milestone and one of the fastest-growing large copper mining companies globally [3]. - The company reported a revenue of 293.4 billion yuan in 2023, an increase of 8.54% year-on-year, and a net profit attributable to shareholders of 21.12 billion yuan, up 5.38% year-on-year [3]. - The company is expected to continue its growth trajectory with projected revenues of 345.41 billion yuan, 381.99 billion yuan, and 405.56 billion yuan for 2024, 2025, and 2026, respectively [4]. Summary by Sections Company Overview - The latest closing price is 16.95 yuan, with a market capitalization of 446.23 billion yuan and a current P/E ratio of 21.13 [3]. Production and Growth - In 2023, the company produced 1.01 million tons of copper, 67.7 tons of gold, 467,000 tons of zinc, and 412 tons of silver, with respective year-on-year growth rates of 11%, 20%, 3%, and 4% [3]. - The company plans to increase copper production to 1.11 million tons in 2024 and 1.17 million tons in 2025, with gold production targets of 73.5 tons and 90 tons for the same years [3]. Financial Performance - The company’s operating income for Q4 2023 was 68.39 billion yuan, reflecting a year-on-year increase of 3.41% [3]. - The projected net profit for 2024, 2025, and 2026 is expected to be 25.07 billion yuan, 32.63 billion yuan, and 36.90 billion yuan, respectively, with corresponding EPS of 0.95, 1.24, and 1.40 [4]. Investment Outlook - The company is positioned as a global mining leader with ongoing resource acquisitions and self-exploration efforts, supporting sustainable growth in gold, copper, and lithium resources [3]. - The report maintains a "Buy" rating based on the company's competitive advantages and growth potential in the mining sector [3].