紫金矿业(02899) - 2024 - 中期业绩

Financial Performance - For the six months ended June 30, 2024, the group achieved operating revenue of RMB 150.417 billion, which is essentially flat compared to RMB 150.334 billion in the same period last year[2] - The total profit for the same period was RMB 21.588 billion, representing a year-on-year increase of 38.87% from RMB 15.545 billion[2] - The net profit attributable to shareholders of the listed company was RMB 15.084 billion, up 46.42% from RMB 10.302 billion in the previous year[2] - Operating revenue for the first half of 2024 reached RMB 150.42 billion, a slight increase from RMB 150.33 billion in the same period of 2023, representing a growth of 0.06%[6] - Net profit for the first half of 2024 was RMB 18.48 billion, up 44% from RMB 12.83 billion in the first half of 2023[6] - The company’s total profit for the first half of 2024 was RMB 21.59 billion, compared to RMB 15.55 billion in the same period of 2023, indicating a growth of 38.7%[6] - The company’s total comprehensive income for the first half of 2024 was RMB 22.42 billion, compared to RMB 18.06 billion in the same period of 2023, reflecting a growth of 24.5%[7] - Basic earnings per share increased to RMB 0.574, compared to RMB 0.391 in the same period last year, reflecting a growth of 46.8%[7] Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 368.877 billion, reflecting a growth of 7.54% from RMB 343.006 billion at the beginning of the year[3] - The total liabilities as of June 30, 2024, were RMB 208.984 billion, compared to RMB 204.643 billion at the end of 2023[5] - The net assets attributable to shareholders of the listed company increased by 17.61% to RMB 126.444 billion from RMB 107.506 billion at the beginning of the year[5] - The company’s current assets as of June 30, 2024, were RMB 89.79 billion, while current liabilities were RMB 84.41 billion, indicating a healthy liquidity position[10] - The company’s total equity as of June 30, 2024, was RMB 159.89 billion, up from RMB 138.36 billion as of December 31, 2023[74] Cash Flow and Financing - Cash flow from operating activities generated RMB 20.45 billion, an increase from RMB 16.03 billion in the first half of 2023, representing a growth of 27.5%[8] - The net cash inflow from financing activities for the first half of 2024 was RMB 51.85 billion, up from RMB 36.58 billion in the same period of 2023, representing an increase of approximately 41.6%[9] - The net cash outflow from financing activities was RMB 20.09 million in the first half of 2024, a significant improvement from RMB 1.92 billion in the same period of 2023[9] - The company’s cash and cash equivalents as of June 30, 2024, were RMB 25.190 billion, compared to RMB 18.449 billion at the end of 2023[4] - The company’s interest-bearing debt increased from RMB 676.90 billion at the beginning of the reporting period to RMB 683.36 billion at the end, reflecting a year-on-year change of 0.95%[91] Investment and Expenses - The company reported a significant increase in investment income, which rose to RMB 2.03 billion from RMB 1.50 billion year-over-year, marking a growth of 35%[6] - Research and development expenses for the first half of 2024 were RMB 708.16 million, slightly down from RMB 733.16 million in the previous year[6] - The company’s financial expenses decreased to RMB 1.36 billion from RMB 1.47 billion in the previous year, showing a reduction of approximately 7.8%[6] - The company reported a significant reduction in credit impairment losses by 84.31% to RMB 13 million[70] Production and Sales - The mining products segment generated RMB 46.03 billion in revenue, while the smelting products segment contributed RMB 89.27 billion, reflecting a year-on-year increase of 20.8% and 13.8% respectively[29][30] - The production of copper reached 519,000 tons, gold 35.4 tons, zinc (lead) 222,000 tons, and silver 210.3 tons, with year-on-year growth rates of 5.3% and 9.5% for copper and gold respectively[47] - The average price of copper in the first half of 2024 was RMB 74,668 per ton, reflecting a 10% increase compared to RMB 67,900 per ton in the first half of 2023[44] - The average gold price in the first half of 2024 was USD 2,203 per ounce, a 14% increase from USD 1,932 per ounce in the same period of 2023[44] Strategic Initiatives and Future Outlook - The company aims to achieve a copper production target of 1.5-1.6 million tons, gold 100-110 tons, zinc (lead) 550-600 thousand tons, silver 600-700 tons, lithium (LCE) 250-300 thousand tons, and molybdenum 25-35 thousand tons by 2028, two years ahead of the original 2030 plan[54] - The company is focusing on enhancing its overseas operational management capabilities to mitigate risks associated with political and economic uncertainties in various countries[85] - The company anticipates continued strong demand for precious metals due to geopolitical tensions and central bank policies, which may lead to higher gold prices in the short term[84] - The company expects a continued shortage in copper supply in the medium to long term, driven by the growth of clean energy and electric vehicle sectors[84] Corporate Governance and Compliance - The audit and internal control committee reviewed the unaudited interim results for the six months ending June 30, 2024, confirming compliance with applicable accounting standards[106] - The company continues to engage Ernst & Young Hua Ming as its auditor for the fiscal year 2024[109] - No significant events affecting the group have occurred after the reporting period up to the date of this announcement[110]