Zijin Mining(02899)2024-04-22 12:33Financial 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]