ZHONGJIN GOLD(SH:600489)2014-04-18 16:00Financial Performance - The company's operating revenue for 2013 was CNY 30.49 billion, a decrease of 15.42% compared to CNY 36.05 billion in 2012[30]. - The net profit attributable to shareholders for 2013 was CNY 431.07 million, down 72.32% from CNY 1.56 billion in 2012[30]. - The net profit after deducting non-recurring gains and losses was CNY 397.64 million, a decrease of 73.95% from CNY 1.53 billion in 2012[30]. - The net cash flow from operating activities was CNY 813.01 million, down 66.78% from CNY 2.45 billion in 2012[30]. - The basic earnings per share for 2013 were CNY 0.15, down 71.70% from CNY 0.53 in 2012[31]. - The diluted earnings per share for 2013 were also CNY 0.15, reflecting the same percentage decrease as basic earnings[31]. - The weighted average return on equity for 2013 was 4.33%, a decrease of 12.37 percentage points from 16.70% in 2012[31]. - The company’s revenue for 2013 was CNY 30.491 billion, down from CNY 36.051 billion in the previous year, primarily due to falling prices of gold, silver, and copper products[44]. - The total revenue for the year was CNY 30,118,436,156.48, representing a 9.19% increase compared to the previous year[55]. - The company reported a significant decline in net profits across various subsidiaries due to falling gold prices, with some reporting decreases of over 90%[75]. Assets and Liabilities - The total assets at the end of 2013 were CNY 23.42 billion, an increase of 8.97% from CNY 21.50 billion at the end of 2012[30]. - The total liabilities increased due to a rise in borrowings related to project financing, resulting in a net cash flow from financing activities of CNY 1.279 billion[43]. - The company’s total liabilities as of December 31, 2013, were reported at RMB 10,000,000,000, compared to RMB 9,500,000,000 at the beginning of the year, indicating an increase of approximately 5.3%[171]. - The company’s total equity decreased to CNY 11.77 billion from CNY 12.04 billion, indicating a decline of about 2.23%[174]. - The total liabilities increased to CNY 11.65 billion from CNY 9.45 billion, reflecting a growth of approximately 23.19%[174]. Production and Operations - The company produced 122.59 tons of standard gold, 25.59 tons of mined gold, and 23.08 tons of refined gold in 2013, with increases of 11.61%, 4.58%, and 11.18% respectively, while copper production decreased by 1.05% to 17,102.19 tons[38]. - The company plans to produce 153.96 tons of standard gold, 25.17 tons of mined gold, and 24.59 tons of refined gold in 2014[78]. - The company aims to increase its gold reserves by 51.62 tons in 2014[78]. - The company completed the construction of several key projects, which are expected to add a mining capacity of 7,000 tons per day and an additional gold output of 3.27 tons[38]. Research and Development - The company’s R&D expenditure increased by 117.17% to CNY 69.17 million, reflecting a significant investment in research projects[43]. - The total R&D expenditure amounted to CNY 69.17 million, accounting for 0.23% of operating revenue and 0.59% of net assets[50]. - The company completed 61 research projects in 2013, resulting in 3 effective patents and 11 provincial-level awards[51]. Environmental and Safety Standards - The company achieved a reduction in COD and SO2 emissions by 2.4% and 2.2% respectively compared to the previous year, demonstrating commitment to safety and environmental standards[39]. - The company emphasizes green development and has invested significantly in environmental remediation and monitoring initiatives[87]. - The company has established 11 enterprises as national-level green mine pilot units, enhancing its environmental protection standards[89]. - All mining operations have passed national safety standardization assessments, with three enterprises achieving level one certification[88]. Shareholder and Financial Management - The company plans to distribute a cash dividend of CNY 0.44 per 10 shares, totaling CNY 129.50 million, which accounts for 30.04% of the net profit attributable to shareholders[7]. - The company has committed to supporting the management's equity incentive plan, aiming to enhance operational efficiency and competitiveness[98]. - The total number of shares outstanding is 2,943,228,797, with 100% being unrestricted shares[111]. - The largest shareholder is China National Gold Group Corporation, holding 50.01% of the shares, totaling 1,471,888,685 shares[115]. Future Outlook and Strategy - The company intends to optimize asset quality and structure by focusing on high-potential resource projects and improving profitability[78]. - The company plans to invest approximately 7 billion RMB in capital expenditures for project construction, geological exploration, and resource acquisition in 2014[80]. - The company aims to enhance technological innovation and management to address key technical challenges affecting production and operations[80]. - The company anticipates continued pressure on profit margins due to declining international gold prices and will enhance its risk management strategies[81].