Financial Performance - The group recorded a total revenue of approximately RMB 1.36637 billion, representing a decrease of about 8.57% compared to the previous fiscal year[21]. - Sales of explosive products accounted for 52.35% of total revenue, while sales of refined minerals contributed 37.73%[25]. - The gross profit margin improved due to a further decline in raw material prices, particularly benefiting the Anhui Jinding project[21]. - The company proposed a final dividend of HKD 0.01 per share, sharing the benefits of stable development with all shareholders[14]. - The company's distributable reserves as of March 31, 2024, were approximately RMB 722 million, compared to RMB 709 million as of March 31, 2023[189]. - Interest expenses for the year were RMB 102 million, down from RMB 143 million in the previous year[200]. - Charitable donations for the year totaled RMB 1,630,000, significantly higher than RMB 240,000 in the previous year[191]. Project Developments - The group achieved stable sales of civil explosives in Inner Mongolia and mining operations in Anhui, with improved gross margins due to declining raw material prices[12]. - The gold recovery rate from the carbon slurry gold extraction project in Anhui significantly increased, enhancing the overall profitability of the Anhui Jinding project[12]. - The group successfully divested from the Tibet Huatai Long construction project, with growth in the Anhui Jinding project and Inner Mongolia explosives business compensating for this loss[12]. - The construction of the mining site for Tibet Tianren Mining Co., Ltd. is set to begin in the second half of 2024, laying a solid foundation for the group's long-term development[13]. - The Tajikistan detonating cord production line has commenced construction, expected to support more Belt and Road Initiative projects, enhancing the group's influence and profitability in Central Asia[13]. - The group plans to optimize the production capacity allocation of the civil explosives segment to enhance sales and profit margins[22]. - The group is focused on accelerating the construction progress of the Tibet Tianren project, which is expected to become a solid foundation for future development[23]. - The company plans to commence mining construction in the second half of 2024[101]. - Tibet Tianren expects to receive approval for the environmental impact report in the second half of 2024 before commencing mining construction[108]. Resource and Production - The company produced a total of 1,075,090 tons of ore, including 963,070 tons of copper-gold ore with an average grade of 0.81 g/t gold and 0.44% copper[43]. - The newly established gold recovery workshop has processed approximately 283 kg of gold mud, containing about 7.72 kg of metallic gold with a gold content of 27% as of March 31, 2024[43]. - The total mineral resource for the Huangtun pyrite mine is reported as 17.42 million tons with an average copper grade of 0.31%[47]. - The company has achieved a production capacity of approximately 3,000 tons per day, with all mining and tunneling outsourced to two contractors[49]. - The company has a total ore reserve of 8.94 million tons with a copper grade of 0.34% and a gold grade of 0.93 g/t in the western area[84]. - The eastern area has a total ore reserve of 6.28 million tons with a sulfur grade of 22.85% and a copper grade of 0.17%[84]. - The estimated mineral resources at the Bangpu mine are 658.73 Mt, with indicated resources of 73.58 Mt at an average copper grade of 0.200% and molybdenum grade of 0.071%[94]. - The estimated ore reserves as of March 31, 2024, are 115.67 Mt with an average copper grade of 0.224% and molybdenum grade of 0.079%[100]. - The recovery rates for molybdenum and copper are projected at 84.50% and 91.00%, respectively, with designed grades of 53% for molybdenum and 22% for copper[105]. Governance and Compliance - The company has maintained a strong governance structure, with all independent non-executive directors confirmed as independent as of the report date[51]. - The board held a total of 7 meetings during the year, with all executive directors attending all meetings[50]. - The total director remuneration for the year was approximately RMB 2,590,000, a decrease from RMB 2,890,000 in the previous year[58]. - The auditor's fees for audit and other services amounted to approximately RMB 2,990,000 for the year[59]. - The company has established a nomination committee to review the board's structure and recommend suitable candidates for directorship[63]. - The company has established an internal audit department to independently review the adequacy and effectiveness of risk management and internal control systems[126]. - The board has reviewed the effectiveness of the internal control system and considers it sufficient, with management continuously monitoring risks and internal controls[129]. - The company has implemented a disclosure policy to ensure timely and consistent disclosure of inside information in compliance with GEM Listing Rules[130]. - The company has a zero-tolerance policy towards corruption and bribery, ensuring compliance with applicable laws and regulations[133]. - The board has established a whistleblowing procedure to encourage reporting of misconduct and dishonest behavior[133]. - The company has achieved measurable goals for board diversity, including at least one-third of non-executive or independent non-executive directors and two members with accounting qualifications[144]. - The board consists of three female and five male directors, reflecting a commitment to gender diversity[144]. Employee and Shareholder Relations - The company has a structured process for shareholders to propose suggestions and call special meetings if necessary[147]. - The company emphasizes the importance of good corporate governance to maintain investor confidence and attract investments[150]. - The management is committed to enhancing the corporate governance standards of the group[150]. - The company is focused on providing equal employment and advancement opportunities for all employees, regardless of gender, age, religion, or origin[145]. - The gender ratio in the company's workforce, including senior management, is approximately 4:1, indicating gender diversity at the team level[145]. - The company has reviewed the implementation and effectiveness of its shareholder communication policy, finding it effective[140]. - The company has established multiple channels for ongoing communication with shareholders, including announcements and reports available on the HKEX and the company's website[148]. - The company has a clear policy for shareholder communication that has been deemed satisfactory and effective during the fiscal year[148].
比优集团(08053) - 2024 - 年度财报