Financial Performance - The total comprehensive loss for the year ended December 31, 2018, was approximately RMB 102.4 million, a decrease of about RMB 38 million or 27% compared to RMB 140.4 million for the year ended December 31, 2016[6]. - The comprehensive loss from continuing operations for the year was approximately RMB 98.6 million, an increase of about RMB 12.6 million or 14.7% compared to RMB 86.0 million for the year ended December 31, 2017[6]. - The company reported a revenue of approximately RMB 217.2 million for the year ended December 31, 2018, an increase of approximately RMB 186.9 million or about 616.7% compared to RMB 30.3 million for the year ended December 31, 2017[113]. - The total comprehensive loss for the company was approximately RMB 102.4 million for the year ended December 31, 2018, a decrease of approximately RMB 38.0 million or about 27% compared to RMB 140.4 million for the year ended December 31, 2017[113]. - The total mining production cost for the year ended December 31, 2018, was RMB 202.165 million, compared to RMB 84.426 million in the previous year[157]. - The total cost of sales increased by approximately RMB 138 million or 202.9% to about RMB 206 million for the year ended December 31, 2018, compared to approximately RMB 68 million for the year ended December 31, 2017[183]. - The company achieved a gross profit for iron ore production improved from a loss of approximately RMB 37.8 million in 2017 to a loss of about RMB 2.2 million in 2018, primarily due to increased sales volume and reduced costs[188]. - The overall gross margin increased from a loss rate of approximately 124.4% in 2017 to a gross profit margin of about 5.2% in 2018[189]. - The net financial costs rose from approximately RMB 11.7 million in 2017 to about RMB 20.5 million in 2018[192]. - The company issued 322,348,000 shares on June 4, 2018, raising net proceeds of approximately RMB 29.42 million for general working capital and future investment opportunities[194]. Production and Operations - The company imported 10.8 thousand tons of spodumene and produced 18,000 tons of lithium concentrate with a grade of approximately 5.5%[9]. - The company has developed a new non-magnetic mineral processing technology, achieving a production capacity of 1 million tons after upgrading two production lines[6]. - The company processed 285,649 tons of iron ore, resulting in 35,480 tons of iron concentrate[43]. - The company processed 25.28 million tons of external ore for sale during the year due to a downturn in the global iron ore market[40]. - The company has a mining capacity of 2.3 million tons per year at its Yangzhuang Iron Mine, with mining rights valid until 2019[43]. - The company has achieved 100% utilization of recycled water in production, meeting national standards for both natural and treated water[93]. - The company has developed a tailings dry stacking system, which has been patented and maximizes the use of tailings sand[91]. - The company plans to enhance and achieve mass production of a new ore selection technology to maintain its competitive advantage in traditional mining operations[199]. - The production of iron concentrate with an iron content of around 64% was approximately 239.0 thousand tons[199]. Environmental and Sustainability Initiatives - The company invested over RMB 53.34 million in sustainable development, with approximately RMB 52.22 million allocated for natural resource conservation and ecosystem restoration[42]. - The company achieved a 100% green coverage rate with a total of over 2,000 trees planted since its establishment, contributing to greenhouse gas reduction[36]. - The company has implemented a zero wastewater discharge system, fully collecting and treating wastewater from ore processing and domestic sewage[89]. - The company has planted 2,282 trees, resulting in a total carbon dioxide removal equivalent of 52.486 tons of CO2e[102]. - The company is committed to sustainable development and has collaborated with research institutions to improve ore processing technology[43]. - The company has implemented strict recruitment procedures to ensure fair hiring practices and compliance with labor laws[67]. - The company has invested over RMB 120,000 in environmental management in surrounding communities[78]. - The company has established a joint primary school in the local community, donating RMB 121,000 for educational development[78]. - The company recognizes the importance of balancing energy use and climate change for long-term sustainability[95]. Strategic Initiatives and Future Plans - The company plans to explore blockchain technology related to mining and new energy sectors to create a decentralized global mining and new energy platform[12]. - The company is forming a joint venture with Xinjiang Zhongtai Group to capitalize on opportunities in the clean energy sector, particularly in traditional coal and petrochemical energy[15]. - The company plans to enhance its titanium industry chain and advance its new energy business significantly in 2019 and beyond[16]. - The company is actively expanding its clean energy business, utilizing leading solar thermal power generation technology, and plans to continue advancing this project in 2019[19]. - The company is focusing on low-cost exploration of rare metals and non-metallic mineral resources to enhance resource reserves and increase the value of its mining assets[23]. - The company is strategically positioning itself in the Xinjiang traditional coal energy technology and trade business, collaborating with state-owned enterprises to seize development opportunities in clean energy[125]. - The company plans to expand into clean energy businesses, including wind and solar power, while continuing to maintain its iron and titanium concentrate operations[113]. - The company aims to strengthen technical cooperation with the Chinese Academy of Sciences and the Russian Academy of Sciences to achieve significant technological breakthroughs[199]. Employee and Community Engagement - The company has a total of 149 employees, with 65% being production workers and 24.16% in middle management roles[68]. - The employee turnover rate is 2.9%, with male employees at 2.9% and female employees at 0%[70]. - 100% of employees participated in vocational training, averaging 97 hours of training per employee[76]. - The company has provided approximately 400 job opportunities in nearby villages[78]. - A total of RMB 263,500 has been donated for charity and community support initiatives[78]. Resource Estimates and Mining Operations - The Yangzhuang iron ore has a total proven and probable ore reserve of approximately 43.93 million tons with an average grade of 24.58% TFe[134]. - The Zhuzha Shangyu titanium iron ore has a total proven and probable ore reserve of approximately 546.29 million tons with an average grade of 5.69% titanium dioxide and about 12.81% TFe[134]. - The Qin Jiazhuang titanium iron ore project has a total proven and probable ore reserve of approximately 86.63 million tons with an average grade of 4.50% titanium dioxide and about 13.56% TFe[134]. - The total resource estimate for Yangzhuang iron ore is 79.0 million tons with an average grade of 26.2% TFe[150]. - The total resource estimate for Zhuzha Shangyu titanium iron ore is 199.45 million tons with an average grade of 12.82% TFe[148]. - The total resource estimate for Qin Jiazhuang titanium iron ore is 45.33 million tons with an average grade of 13.56% TFe[148]. - The average unit selling price for 65% iron concentrate was approximately RMB 572.9 per ton, a decrease of about 6.6% compared to RMB 613.2 per ton in the previous year[160]. - The average unit selling price for 46% titanium concentrate was approximately RMB 892.3 per ton, a significant decrease of about 45.5% from RMB 1,636.2 per ton in the previous year[161].
爱德新能源(02623) - 2018 - 年度财报