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中国有色矿业(01258) - 2024 - 中期业绩
01258CHINFMINING(01258)2024-08-29 14:33

Financial Performance - In the first half of 2024, the company achieved revenue of 2,009.8million,anincreaseof9.02,009.8 million, an increase of 9.0% compared to 1,843.8 million in the same period of 2023[3] - The net profit for the first half of 2024 was 303.2million,representinga14.9303.2 million, representing a 14.9% increase from 264.0 million in the first half of 2023[3] - Profit attributable to the owners of the company was 219.1million,up18.0219.1 million, up 18.0% from 185.7 million in the same period last year[3] - Basic earnings per share for the first half of 2024 were approximately 5.75 cents, a 15.7% increase from 4.97 cents in the first half of 2023[3] - The company reported a gross profit of 511.96millionforthefirsthalfof2024,slightlydownfrom511.96 million for the first half of 2024, slightly down from 521.38 million in the same period of 2023[6] - The gross profit for the first half of 2024 was 512.0million,adecreaseof1.8512.0 million, a decrease of 1.8% from 521.4 million in the first half of 2023[89] - The gross margin fell from 28.3% in the first half of 2023 to 25.5% in the first half of 2024[89] Dividends - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2024[4] - The company declared a final dividend of 0.029702pershareforthesixmonthsendedJune30,2024,totaling0.029702 per share for the six months ended June 30, 2024, totaling 115.9 million, compared to 105.5millionforthesameperiodlastyear[44]ThecompanydidnotrecommendaninterimdividendforthesixmonthsendedJune30,2024,comparedtonodividendinthesameperiodof2023[117]AssetsandLiabilitiesTotalassetsasofJune30,2024,amountedto105.5 million for the same period last year[44] - The company did not recommend an interim dividend for the six months ended June 30, 2024, compared to no dividend in the same period of 2023[117] Assets and Liabilities - Total assets as of June 30, 2024, amounted to 4,186.3 million, compared to 3,819.5millionasofDecember31,2023[8]ThetotalliabilitiesasofJune30,2024,were3,819.5 million as of December 31, 2023[8] - The total liabilities as of June 30, 2024, were 1,395,820 thousand, compared to 1,332,910thousandattheendof2023,indicatinganincreaseof4.71,332,910 thousand at the end of 2023, indicating an increase of 4.7%[24] - The company's equity attributable to owners increased to 2,069.7 million from 1,842.4millionattheendof2023[8]Cashandcashequivalentsincreasedsignificantlyto1,842.4 million at the end of 2023[8] - Cash and cash equivalents increased significantly to 1,027.8 million from 492.4millionattheendof2023[7]CashFlowNetcashgeneratedfromoperatingactivitiesforthesixmonthsendedJune30,2024,was492.4 million at the end of 2023[7] Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2024, was 413,118 thousand, a decrease of 10.9% compared to 463,915thousandinthesameperiodof2023[12]Thecashflowfrominvestingactivitiesshowedasignificantimprovement,withanetcashinflowof463,915 thousand in the same period of 2023[12] - The cash flow from investing activities showed a significant improvement, with a net cash inflow of 26,765 thousand compared to a net outflow of 172,808thousandinthepreviousyear[12]Thenetcashinflowfromoperatingactivitieswas172,808 thousand in the previous year[12] - The net cash inflow from operating activities was 413.1 million, down from 463.9millioninthefirsthalfof2023[96]Inthefirsthalfof2024,thegroupsfinancingactivitiesgeneratedanetcashinflowof463.9 million in the first half of 2023[96] - In the first half of 2024, the group's financing activities generated a net cash inflow of 94.9 million, an increase of 215.3millioncomparedtoanetcashoutflowof215.3 million compared to a net cash outflow of 120.4 million in the same period of 2023[99] Production and Sales - The total production of copper and anode copper for the first half of 2024 was 159,971 tons, a 10.5% increase year-on-year[51] - The production of cathode copper decreased by 12.8% year-on-year to 62,450 tons during the same period[51] - Revenue from copper and anode copper sales reached 1,361.5million,agrowthof22.51,361.5 million, a growth of 22.5% from 1,111.6 million in the first half of 2023[82] - The sales revenue of cathode copper decreased by 9.3% to 517.2millionfrom517.2 million from 570.4 million in the previous year[82] Risks and Challenges - The company faces various risks in the second half of 2024, including a nearly 20% drop in international copper prices from the second quarter peak and ongoing geopolitical uncertainties[113] Investments and Projects - The new mining project has a total investment of approximately 513.0million,with513.0 million, with 100.0 million allocated for drainage and 413.0millionforconstructionrecovery,aimingforanannualproductionscaleof2.2milliontonsofcopperconcentrate[71]Theoxygenproductionsystemupgradeprojectaimstorestoreproductionlevelsto4,000standardcubicmetersperhourandreduceenergyconsumption,withatotalinvestmentof413.0 million for construction recovery, aiming for an annual production scale of 2.2 million tons of copper concentrate[71] - The oxygen production system upgrade project aims to restore production levels to 4,000 standard cubic meters per hour and reduce energy consumption, with a total investment of 2.6 million[70] - The copper smelting project includes 14 sub-projects, with 9 already under construction and an overall investment completion ratio of 38.9%, totaling $19.3 million[74] Governance and Compliance - The company has established an audit committee to oversee financial reporting and internal controls, ensuring compliance with applicable accounting standards and regulations[126] - The company has complied with the Corporate Governance Code as per the Listing Rules during the six months ending June 30, 2024[125] - All directors confirmed compliance with the standards of conduct regarding securities trading during the six months ending June 30, 2024[128]