锌业股份(000751) - 2024 Q2 - 季度财报

Financial Performance - Revenue for the first half of 2024 decreased by 15.75% to 7,192,870,089.37 yuan compared to the same period last year[22] - Net profit attributable to shareholders increased by 5.79% to 31,472,912.94 yuan year-over-year[22] - Operating cash flow decreased by 31.22% to 369,860,927.01 yuan compared to the same period last year[22] - Basic earnings per share decreased by 7.58% to 0.0195 yuan per share[22] - Total assets decreased by 1.77% to 8,691,136,824.88 yuan compared to the end of the previous year[22] - Shareholders' equity increased by 0.88% to 3,611,852,321.88 yuan compared to the end of the previous year[22] - The weighted average return on equity decreased by 0.11 percentage points to 0.88%[22] - In H1 2024, the company achieved revenue of 7.19287 billion yuan, a year-on-year decrease of 15.75%, while net profit attributable to shareholders increased by 5.79% to 31.4729 million yuan[37] - Revenue decreased by 15.75% to 7.192 billion yuan compared to the same period last year[44] - Operating costs decreased by 15.99% to 6.916 billion yuan, reflecting cost optimization efforts[44] - Sales expenses increased by 27.64% to 3.401 million yuan, indicating higher marketing or distribution costs[44] - R&D investment decreased by 8.57% to 10.171 million yuan, reflecting a slight reduction in innovation spending[45] - Net cash flow from operating activities decreased by 31.22% to 369.860 million yuan, primarily due to reduced cash receipts from sales[45] - Net cash flow from financing activities decreased by 51.15% to -521.439 million yuan, mainly due to increased debt repayments[45] - Revenue from the non-ferrous metal smelting segment decreased by 10.82% to 5.563 billion yuan, accounting for 77.35% of total revenue[46] - Revenue from the non-ferrous metal trade segment decreased by 29.14% to 1.629 billion yuan, reflecting weaker market demand[46] - Revenue from zinc products decreased slightly by 2.27% to 2.727 billion yuan, maintaining a stable market position[47] - Revenue from other products increased significantly by 86.55% to 723.309 million yuan, indicating diversification success[47] - Total investment in the reporting period increased by 32.86% to 2,903,887,790.00 yuan compared to the same period last year[53] - Monetary funds decreased by 4.46% to 1,604,238,326.95 yuan, accounting for 22.92% of total assets[50] - Accounts receivable increased by 0.58% to 232,478,995.23 yuan, accounting for 2.67% of total assets[50] - Inventory increased by 1.51% to 3,452,324,248.36 yuan, accounting for 39.72% of total assets[50] - Short-term borrowings decreased by 2.98% to 2,082,553,893.29 yuan, accounting for 23.96% of total assets[50] - Contract liabilities increased by 0.30% to 59,812,021.52 yuan, accounting for 0.69% of total assets[50] - Frozen monetary funds amounted to 626,857,265.95 yuan due to account freezing[52] - Derivative investments for hedging purposes had an initial investment of 4,016,390 yuan and a final investment of 7,216,410 yuan, accounting for 2.00% of net assets[56] - The company's hedging activities effectively mitigated price risks associated with raw materials and main products[56] - The company's subsidiary, Huludao Hongyue Northern Copper Industry Co., Ltd., reported a net profit of 39,556,413.35 yuan, contributing significantly to the overall performance[63] - The company established a wholly-owned subsidiary, Huludao Bojun Metallurgical Products Co., Ltd., with a registered capital of 300 million yuan to optimize its industrial structure and enhance core competitiveness[63] - The company plans to distribute a cash dividend of 0.30 yuan per share, totaling 48,468,917.85 yuan, based on the total share capital of 1,615,630,595 shares[69] - The company's zinc, copper, and silver futures contracts are valued based on the settlement prices of the corresponding contracts on the Shanghai Futures Exchange and the Shanghai Gold Exchange[57] - The company faces risks from price fluctuations in zinc and copper, and it uses futures hedging to mitigate these risks[64] - The company did not engage in any speculative derivative investments during the reporting period[58] - The company did not use any raised funds during the reporting period[59] - The company did not sell any major assets or equity during the reporting period[60][61] - The company's 2023 annual general meeting had a low investor participation rate of 0.75%[67] - The company's independent director, Fan Baoxue, left his position due to the expiration of his term, and Zhang Chunlin was elected as the new independent director[68] - The company complies with environmental protection laws and regulations, including the "Environmental Protection Law of the People's Republic of China" and industry standards such as "Emission Standards for Pollutants in Lead and Zinc Industry" (GB25466-2010) and "Emission Standards for Pollutants in Copper, Nickel, and Cobalt Industry" (GB25467-2010)[75] - The company's subsidiaries, Huludao Zinc Industry Co., Ltd. and Huludao Hongyue Northern Copper Co., Ltd., have stable emissions of SO2 and dust, with SO2 emissions at 109.65 tons and 15.44 tons respectively, and dust emissions at 51.57 tons and 10.33 tons respectively[76] - The company's wastewater is treated and reused, and its exhaust gas pollutants, mainly SO2 and particulate matter, are treated to meet national emission standards of 400 mg/m³ for SO2 and 80 mg/m³ for particulate matter[77] - In the first half of 2024, the company paid 941,200 yuan in environmental protection taxes[78] - The company conducted self-monitoring in the first half of 2024, with manual monitoring entrusted to third-party agencies and online monitoring facilities managed by third-party units, ensuring stable operation and effective data transmission[79] - The company has implemented measures to reduce carbon emissions, including eliminating high-energy-consuming equipment and promoting energy-saving practices, achieving sustainable development goals[79] - The company has established a comprehensive corporate governance structure to protect the rights of shareholders and creditors, ensuring fair and timely information disclosure[81] - The company has strengthened its environmental protection efforts, including upgrading equipment and systems to reduce energy and material consumption, and has established an environmental emergency response mechanism[83] - The company donated 140,000 yuan to support education in Liaoning Province, demonstrating its commitment to social responsibility[83] - No non-operating fund occupation by controlling shareholders and other related parties during the reporting period[87] - No illegal external guarantees during the reporting period[88] - The semi-annual financial report has not been audited[89] - No major litigation or arbitration matters during the reporting period[91] - No penalties or rectification situations during the reporting period[92] - The company and its controlling shareholders and actual controllers have good credit status[93] - Total related-party transactions for material procurement amounted to 3,117.83 million yuan, accounting for 0.45% of similar transactions[94] - Related-party transactions for material procurement with Chaoyang Trading Co., Ltd. amounted to 909.48 million yuan, accounting for 0.13% of similar transactions[94] - Related-party transactions for material procurement with Xuri Trading Co., Ltd. amounted to 5.94 million yuan, accounting for 0.00% of similar transactions[94] - Related-party transactions for material procurement with Jianchang Trading Co., Ltd. amounted to 961.6 million yuan, accounting for 0.14% of similar transactions[94] - Zinc material procurement price increased by 3.14% year-on-year, reaching 400 units[95] - Market price for zinc materials rose by 6.26% in the first half of 2024[95] - Procurement volume for zinc materials in the first half of 2024 was 24,831 units, a 3.57% increase year-on-year[95] - Market price for zinc materials in the first half of 2024 was 7.15% higher compared to the same period last year[95] - Procurement volume for zinc materials in the first half of 2024 was 5,298 units, a 0.76% increase year-on-year[95] - Market price for zinc materials in the first half of 2024 was 0.68% higher compared to the same period last year[95] - Procurement volume for zinc materials in the first half of 2024 was 4,738 units, a 0.68% increase year-on-year[95] - Market price for zinc materials in the first half of 2024 was 0.31% higher compared to the same period last year[95] - The company's actual procurement market price for materials in 2023 was 184.6, with a year-on-year increase of 120.03%[3] - The company's procurement market price for materials in December was 6[4] - The company's estimated procurement market price for materials in 2024 is 25[7] - Sales revenue in the market reached 171.4 million, with a year-on-year growth of 12%[96] - The company's product price increased by 0.02% to 8,000[96] - Actual sales in the market amounted to 3,862,500, with a year-on-year growth of 12%[96] - The company's product price increased by 0.54% to 840[96] - Sales revenue in the market reached 5,532,200, with a year-on-year growth of 12%[96] - The company's product price increased by 0.77% to 7100[96] - Actual sales in the market amounted to 7,610, with a year-on-year growth of 12%[96] - The company's product price increased by 0.19% to 0.00%[96] - The company's actual sales in the market reached 179.5 million, with a year-over-year growth of 120.02%[5] - The company's product price control strategy is expected to continue into 2024[5] - The company's market performance in 2023 showed significant growth, with a 120.02% increase in sales[5] - The company's actual sales in 2023 and 2024 were 32.04% and 40.00% respectively, with a total of 300 transactions[97] - The transportation and logistics sector saw a 621.10% increase in transactions, totaling 4,000 transactions[97] - The procurement market experienced a 329.8% growth, with 1,500 transactions recorded[97] - The training and education sector reported a 138.20% increase in transactions, totaling 1,200 transactions[97] - The engineering procurement market grew by 11,200 transactions, with a market value of 18.87%[97] - The company's actual procurement control service market price was 73.69, accounting for 0.01% of the total, with a transaction amount of 300[98] - The parent company's fund occupancy in the market was 329.8, accounting for 0.05%, with a transaction amount of 661.5[98] - The actual procurement control service market price was 22.25, accounting for 0.00%, with a transaction amount of 120[98] - The total transaction amount for the period was 52,084, with a total transaction amount of 508.231.56[98] - The company did not have any asset or equity acquisition or sale-related transactions during the reporting period[99] - The company did not have any joint external investment-related transactions during the reporting period[100] - The company did not have any related party debt and credit transactions during the reporting period[101] - The company did not have any financial business with related financial companies during the reporting period[102] - The company's controlled financial companies did not have any financial business with related parties during the reporting period[103] - The company received a loan of RMB 0.5 billion from a related party in 2019, with a total loan balance of RMB 1.5 billion, and a loan of RMB 2 billion in 2021[104] - The company has leased part of its idle assets to its affiliate, Liaoning Huaxin Drilling Technology Co., Ltd., for a total rent of 24.48 million yuan over a 6-year period from January 1, 2024, to December 31, 2029[108] - The company provided a total guarantee amount of 290,000 thousand yuan during the reporting period, with actual guarantee issuance of 212,500 thousand yuan[110] - The actual guarantee balance at the end of the reporting period was 202,500 thousand yuan, accounting for 56.07% of the company's net assets[111] - The company provided guarantees for Shenzhen Zinc Trading Co., Ltd. amounting to 50,000 thousand yuan, with a guarantee period from September 25, 2023, to September 25, 2024[110] - The company provided guarantees for Huludao Hongyue North Copper Co., Ltd. totaling 162,500 thousand yuan across multiple transactions[110] - The company did not engage in any significant entrusted wealth management activities during the reporting period[112] - No other significant contracts were reported during the reporting period[113] - No other significant matters requiring explanation were reported during the reporting period[114] - No significant matters related to the company's subsidiaries were reported during the reporting period[115] - The total number of shares remains unchanged at 1,615,630,595, with limited-sale shares at 205,761,816 (12.74%) and unlimited-sale shares at 1,409,868,779 (87.26%)[118] - Zhongye Huludao Nonferrous Metals Group Co., Ltd. holds 20.59% of the shares, totaling 332,602,026 shares[120] - Huludao Hongyue Group Co., Ltd. holds 12.74% of the shares, totaling 205,761,316 shares, all of which are limited-sale shares[120] - Li Zhaoxian, a domestic natural person, increased his shareholding by 6,287,900 shares, bringing his total to 10,901,800 shares (0.67%)[120] - Liu Yan, a domestic natural person, increased his shareholding by 402,900 shares, bringing his total to 6,982,900 shares (0.43%)[120] - Di Wen, a domestic natural person, holds 5,000,060 shares (0.31%) with no changes during the reporting period[120] - Xu Zhongyang, a domestic natural person, holds 4,608,602 shares (0.29%) with no changes during the reporting period[120] - Li Yan, a domestic natural person, increased his shareholding by 2,400,000 shares, bringing his total to 4,400,000 shares (0.27%)[120] - Liu Rui, a domestic natural person, holds 4,081,600 shares (0.25%) with no changes during the reporting period[120] - Zheng Tonghan, a domestic natural person, decreased his shareholding by 920,886 shares, bringing his total to 3,493,414 shares (0.22%)[120] - Total assets decreased to RMB 8,691,136,824.88 from RMB 8,847,737,249.53 at the beginning of the period[133][134] - Current assets decreased to RMB 5,896,964,332.21 from RMB 6,040,368,150.37 at the beginning of the period[133] - Non-current assets decreased to RMB 2,794,172,492.67 from RMB 2,807,369,099.16 at the beginning of the period[134] - Cash and cash equivalents decreased to RMB 1,604,238,326.95 from RMB 2,028,080,635.09 at the beginning of the period[133] - Accounts receivable increased to RMB 232,478,995.23 from RMB 184,566,472.65 at the beginning of the period[133] - Inventory increased to RMB 3,452,324,248.36 from RMB 3,380,350,229.03 at the beginning of the period[133] - Short-term borrowings decreased to RMB 2,082,553,893.29 from RMB 2,383,543,195.91 at the beginning of the period[134] - Accounts payable increased to RMB 391,067,183.43 from RMB 185,369,973.17 at the beginning of the period[134] - Contract liabilities increased to RMB 59,812,021.52 from RMB 34,473,080.91 at the beginning of the period[134] - Other payables decreased to RMB 908,281,104.55 from RMB 972,137,753.77 at the beginning of the period[134] - Total liabilities increased to 5,079,284,503.00 yuan, up from 5,267,357,840.59 yuan in the previous period[135] - Current liabilities decreased to 4,899,681,357.83 yuan from 5,084,498,439.78 yuan[135] - Non-current liabilities slightly decreased to 179,603,145.17 yuan from 182,859,400.81 yuan[135] - Total assets increased to 6,636,855,848.77 yuan from 6,601,096,722.94 yuan[138] - Current assets increased to 3,388,598,175.60 yuan from 3,380,637,074.78 yuan[138] - Non-current assets increased to 3,248,257,673.17 yuan from 3,220,459,648.16 yuan[138] - Total equity increased to 3,583,016,916.16 yuan from 3,480,966,215.39 yuan[139] - Net profit for the first half of 2024 was 95,136,546.47