紫金矿业(02899) - 2023 - 年度业绩

Financial Performance - Revenue for the year ended December 31, 2023, reached RMB 293.403 billion, an increase of 8.54% year-over-year (YoY)[2] - Net profit attributable to shareholders of the company was RMB 21.119 billion, up 5.38% YoY[2] - Total assets as of December 31, 2023, amounted to RMB 343.006 billion, a 12.08% increase from the beginning of the year[2] - Shareholders' equity attributable to the company reached RMB 107.506 billion, a 20.87% increase from the beginning of the year[2] - The company proposed a dividend distribution of RMB 0.2 per share for the year 2023[2] - Revenue for 2023 reached RMB 293.4 billion, an increase of 8.5% compared to RMB 270.3 billion in 2022[7] - Net profit attributable to shareholders of the parent company was RMB 21.12 billion, up 5.4% from RMB 20.04 billion in 2022[7] - Basic earnings per share (EPS) increased to RMB 0.80 in 2023, compared to RMB 0.76 in 2022[8] - Comprehensive income attributable to shareholders of the parent company totaled RMB 24.99 billion, up 9.2% from RMB 22.89 billion in 2022[8] - Total income tax expense for 2023 is RMB 4,747,871,900, compared to RMB 5,225,640,850 in 2022[15] - Total operating revenue for 2023 is RMB 293,403,242,878, with operating costs of RMB 247,024,066,519[17] - Tax and surcharges increased to RMB 3.47 billion in 2023, up from RMB 3.11 billion in 2022, reflecting a growth of 11.8%[18] - Interest expenses rose significantly to RMB 5.49 billion in 2023, compared to RMB 3.70 billion in 2022, marking a 48.3% increase[20] - Investment income totaled RMB 3.49 billion in 2023, up from RMB 2.87 billion in 2022, showing a 21.5% growth[22] - Fair value changes resulted in a loss of RMB 18.62 million in 2023, compared to a loss of RMB 255.49 million in 2022, indicating a reduction in losses[24] - Asset impairment losses increased to RMB 385.33 million in 2023, up from RMB 78.71 million in 2022, reflecting a significant rise in write-downs[25] - Non-operating income reached RMB 120.05 million in 2023, up from RMB 108.39 million in 2022, showing a 10.8% increase[26] - Non-current asset impairment loss increased to 232,584,591 RMB in 2023 from 169,702,548 RMB in 2022[27] - Total non-operating expenses decreased to 769,110,228 RMB in 2023 from 1,061,146,651 RMB in 2022[27] - Net profit attributable to ordinary shareholders from continuing operations increased to 21,119,419,571 RMB in 2023 from 20,042,045,977 RMB in 2022[29] - Weighted average number of ordinary shares outstanding increased to 26,259,772,006 in 2023 from 26,231,621,640 in 2022[29] - Other comprehensive income attributable to parent company shareholders increased to 8,960,434,573 RMB in 2023 from 5,061,350,431 RMB in 2022[30] - Fair value changes of equity instrument investments contributed 2,998,954,769 RMB to other comprehensive income in 2023[30] - Foreign currency translation differences increased to 1,447,236,333 RMB in 2023 from 355,343,450 RMB in 2022[30] - Total comprehensive income increased to 8,960,434,573 RMB in 2023 from 5,061,350,431 RMB in 2022[30] - Fair value changes of Ivanhoe Mines shares significantly impacted other comprehensive income[31] - Other comprehensive income for 2023 includes a pre-tax amount of RMB 2,997,102,229 for fair value changes of other equity instrument investments, with RMB 2,701,152,758 attributable to the parent company[32] - The re-measurement of defined benefit plans in 2023 resulted in a pre-tax amount of RMB 17,172,555, with RMB 10,818,710 attributable to the parent company[32] - Foreign currency translation differences for 2023 amounted to RMB 1,459,081,861, with RMB 1,091,892,883 attributable to the parent company[32] - Total other comprehensive income for 2023 was RMB 4,552,426,431, with RMB 3,870,604,979 attributable to the parent company[32] - In 2022, the fair value changes of other equity instrument investments resulted in a pre-tax loss of RMB 357,770,175, with a loss of RMB 354,595,573 attributable to the parent company[32] - Revenue for the reporting period reached RMB 293.4 billion, an increase of 8.54% year-over-year[126] - Operating costs increased to RMB 247.02 billion, up 8.45% compared to the previous year[126] - Sales expenses rose by 23.63% to RMB 766.39 million[126] - Management expenses increased by 20.08% to RMB 7.52 billion[126] - Financial expenses surged by 71.57% to RMB 3.27 billion[126] - Total asset impairment and credit impairment losses amounted to RMB 519.05 million, up from RMB 408.12 million in the previous year[127] - Gold ingot sales volume increased by 23.24% to 33,673 kg, with a 12.28% rise in unit price to RMB 433.09 per gram[128] - Copper concentrate sales volume grew by 3.76% to 640,890 tons, with a 3.95% increase in unit price to RMB 49,406 per ton[128] - Refined gold sales volume decreased by 3.81% to 248,366 kg, but unit price rose by 14.99% to RMB 447.95 per gram[128] - The company's comprehensive gross margin was 15.81%, with mining product gross margin at 49.09%, down 5.20 percentage points due to rising costs[130] - Copper C1 costs and gold AISC costs were in the top 20% globally, with cost increases driven by RMB depreciation, lower ore grades, and higher fuel and electricity costs[130] - Mine-produced copper increased by 10.47% to 803,443 tons, with sales up 9.75% to 810,737 tons[134] - Mine-produced gold production rose by 15.97% to 64,841 kg, while sales increased by 9.68% to 66,708 kg[134] - Mine-produced zinc production grew by 2.31% to 411,618 tons, with sales up 3.32% to 414,879 tons[134] - Mine-produced silver production increased by 3.91% to 402,607 kg, with sales up 1.99% to 411,403 kg[134] - Iron concentrate production decreased by 34.69% to 1.6158 million tons, but sales increased by 15.34% to 2.1019 million tons[134] - Smelted and traded gold production rose by 3.58% to 248,722 kg, while sales decreased by 3.81% to 248,366 kg[134] - Smelted copper production increased by 4.88% to 724,550 tons, with sales up 4.77% to 724,835 tons[134] - Smelted zinc production grew by 4.59% to 333,081 tons, with sales up 4.73% to 333,555 tons[134] - Overall gross margin increased slightly by 0.07 percentage points to 15.81%[132] - Domestic revenue accounted for 79% of total revenue, with 32.27% coming from the Shanghai Gold Exchange[132] - Raw material costs for mineral gold increased by 29.82% to RMB 661.209 million, accounting for 44.44% of total costs[135] - Energy consumption costs for mineral copper surged by 72.21% to RMB 375.238 million, representing 19.89% of total costs[135] - The top five customers contributed RMB 12.289781 billion in sales, accounting for 41.9% of total annual sales[137] - The top five suppliers accounted for RMB 6.055051 billion in procurement, representing 24.5% of total annual procurement[138] - Total R&D investment reached RMB 1.566908894 billion, accounting for 0.53% of total revenue[139] - The company has 5,236 R&D personnel, making up 9.48% of the total workforce[140] - 164 new R&D projects were initiated, including 2 national-level projects, and 56 patents were applied for[141] - Significant R&D achievements contributed over RMB 368 million to production efficiency[141] - The company was selected as a typical case for industrial data security management by the Ministry of Industry and Information Technology[141] - The "Global Mining Supply Chain Collaborative Industrial Internet Platform" was recognized as a provincial-level industrial internet demonstration platform in Fujian[141] - Operating cash flow increased by 28.53% to RMB 36.86 billion, driven by higher gross profit and improved receivables and payables management[142] - Investment cash flow improved by RMB 17.02 billion, a 33.38% reduction in outflows, mainly due to decreased payments for investments and acquisitions[142] - Cash and cash equivalents decreased by 10.04% to RMB 17.69 billion as of December 31, 2023[142] - Foreign currency monetary assets increased by RMB 3.14 billion to RMB 27.03 billion, while foreign currency monetary liabilities rose by RMB 8.60 billion to RMB 52.90 billion[143] - Total borrowings increased to RMB 142 billion, with interest rates ranging from 0.55% to 7.45%[143] - Capital-debt ratio slightly increased to 1.479 from 1.459 in 2022, with total liabilities at RMB 204.64 billion and total equity at RMB 138.36 billion[144] - Net profit attributable to shareholders for Q4 2023 was RMB 4.95 billion, with full-year operating cash flow reaching RMB 91.6 billion[145] - Derivative financial assets increased by RMB 306.40 million, positively impacting profits by RMB 501.31 million[147] - Non-recurring losses totaled RMB 497.12 million, primarily due to fair value changes in financial assets and liabilities[148] - Funds provided to joint ventures for daily operations generated RMB 1.68 billion in interest income, reclassified as recurring income[149] - Accounts receivable decreased by 24.17% to RMB 553.12 million, accounting for 0.16% of total assets[150] - Other equity instrument investments increased by 30.09% to RMB 13.72 billion, accounting for 4.00% of total assets[150] - Construction in progress increased by 64.30% to RMB 35.93 billion, accounting for 10.47% of total assets[150] - Overseas assets amounted to RMB 144.3 billion, accounting for 42% of total assets[151] - Overseas projects contributed 45% of the company's total pre-offset profit[151] - The company's overseas copper, gold, and zinc (lead) production accounted for 56%, 64%, and 45% of total production, respectively[151] - The company's total raw material costs decreased by 3.04% to RMB 52.08 billion, with overseas procurement accounting for 51.03%[153] - The company's self-owned mines contributed 35.83% of total raw material costs, with a year-on-year increase of 30.25%[153] - Domestic procurement of raw materials decreased by 58.12% to RMB 6.85 billion, accounting for 13.14% of total raw material costs[153] - The company invested RMB 1.646 billion in Tibet Zhonghui Industrial Co., Ltd. (Juno Copper Mine), holding a 48.591% stake[154] - The company invested RMB 300 million to acquire 19.42% equity in Xanadu Mines and 50% equity in Huiteng Metals, corresponding to a 45.7% interest in the Mongolian Kharmagtai Copper-Gold Project[154] - The company invested RMB 690 million to acquire a 15% stake in Solaris Resources Inc.[154] - The Serbia Zijin Copper Mine technical transformation project has a total investment of USD 1.778 billion, with RMB 9.7 billion invested in the current reporting period and a cumulative investment of RMB 101.7 billion[156] - The Zhaojin 500t/d pressure oxidation project in Zhaoyuan Gold Mine has a total investment of USD 117 million, with RMB 297 million invested in the current reporting period and a cumulative investment of RMB 791 million[156] - The 3Q Salt Lake Lithium Project Phase I has a total investment of USD 620 million, with RMB 1.51 billion invested in the current reporting period and a cumulative investment of RMB 2.977 billion[156] - The Julong Copper Mine Phase I expansion project has a total investment of RMB 16.79 billion, with RMB 105 million invested in the current reporting period and a cumulative investment of RMB 16.895 billion[156] - The Fujian Zijin Copper Foil Technology Co., Ltd. 20,000 tons/year high-performance electronic copper foil construction project has a total investment of RMB 1.28 billion, with RMB 199 million invested in the current reporting period and a cumulative investment of RMB 1.218 billion[158] - The Fujian Zijin Lithium Yuan Materials Technology Co., Ltd. 20,000 tons/year lithium iron phosphate project has a total investment of RMB 535 million + RMB 239 million, with RMB 457 million invested in the current reporting period and a cumulative investment of RMB 842 million[158] - The total assets of the equity investment company are RMB 385.1 million, with liabilities of RMB 11.87 million and net assets of RMB 373.23 million. The asset management company has total assets of RMB 8.23 million, liabilities of RMB 1.68 million, and net assets of RMB 6.55 million. The combined net profit of the two private equity funds is RMB 5.62 million[159] - The company has authorized its financial subsidiaries to conduct speculative derivative investments with a maximum limit of RMB 300 million and USD 100 million, with a loss cap of RMB 30 million and USD 5 million[160] - The Musonoi Mining Company, with a 72% equity stake, has total assets of RMB 6,429.26 million, net assets of RMB 2,007.06 million, and operating income of RMB 6,944.50 million[161] - The Heilongjiang Duobaoshan Copper Company, with 100% equity, has total assets of RMB 11,714.24 million, net assets of RMB 4,489.82 million, and operating income of RMB 7,383.87 million[161] - The Serbia Zijin Copper Company, with a 63% equity stake, has total assets of RMB 22,899.12 million, net assets of RMB 9,099.83 million, and operating income of RMB 6,601.57 million[161] - The Serbia Zijin Mining Company, with 100% equity, has total assets of RMB 8,038.45 million, net assets of RMB 6,530.26 million, and operating income of RMB 8,726.09 million[161] - The Tibet Julong Copper Company, with a 50.10% equity stake, has total assets of RMB 25,790.40 million, net assets of RMB 8,812.09 million, and operating income of RMB 10,235.09 million[161] - The company's net profit attributable to parent company shareholders in 2023 was RMB 21,119,419,571[184] - The company's total distributable profit for 2023 was RMB 27,155,141,427[184] - The proposed cash dividend for 2023 is RMB 2 per 10 shares (tax included)[184] - The total cash dividend for 2023 is RMB 5,265,197,788 (tax included), accounting for 24.93% of net profit[186] - Including share repurchases, the total dividend payout for 2023 is RMB 5,728,664,235, accounting for 27.13% of net profit[186] - The company's total dividend payout for 2023 is RMB 7,042,882,797, accounting for 33.35% of net profit[186] - The company plans to allocate at least 30% of cumulative distributable profits as cash dividends over the next three years[184] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 343.006 billion, a 12.08% increase from the beginning of the year[2] - Shareholders' equity attributable to the company reached RMB 107.506 billion, a 20.87% increase from the beginning of the year[2] - Current assets totaled RMB 77.629 billion, a slight decrease from RMB 79.644 billion at the end of 2022[4] - Non-current assets increased to RMB 265.377 billion, up from RMB 226.400 billion at the end of 2022[4] - Total liabilities stood at RMB 204.643 billion, compared to RMB 181.589 billion at the end of 2022[5] - Shareholders' equity, including minority interests, reached RMB 138.363 billion, up from RMB 124.455 billion at the end of 2022[6] - Total assets for 2023 amounted to RMB 343.006 billion, with segment assets totaling RMB 301.811 billion and non-allocable assets at RMB 41.195 billion[35] - Total liabilities for 2023 were RMB 204.643 billion, including RMB 149