中国有色矿业(01258) - 2024 - 中期业绩

Financial Performance - In the first half of 2024, the company achieved revenue of $2,009.8 million, an increase of 9.0$1,843.8 million in the same period of 2023[3] - The net profit for the first half of 2024 was $303.2 million, representing a 14.9$264.0 million in the first half of 2023[3] - Profit attributable to the owners of the company was $219.1 million, up 18.0$185.7 million in the same period last year[3] - Basic earnings per share for the first half of 2024 were approximately 5.75 cents, a 15.7% increase from 4.97 cents in the first half of 2023[3] - The company reported a gross profit of $511.96 million for the first half of 2024, slightly down from$521.38 million in the same period of 2023[6] - The gross profit for the first half of 2024 was $512.0 million, a decrease of 1.8$521.4 million in the first half of 2023[89] - The gross margin fell from 28.3% in the first half of 2023 to 25.5% in the first half of 2024[89] Dividends - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2024[4] - The company declared a final dividend of $0.029702 per share for the six months ended June 30, 2024, totaling$115.9 million, compared to $105.5 million for the same period last year[44] - The company did not recommend an interim dividend for the six months ended June 30, 2024, compared to no dividend in the same period of 2023[117] Assets and Liabilities - Total assets as of June 30, 2024, amounted to$4,186.3 million, compared to $3,819.5 million as of December 31, 2023[8] - The total liabilities as of June 30, 2024, were$1,395,820 thousand, compared to $1,332,910 thousand at the end of 2023, indicating an increase of 4.7$2,069.7 million from $1,842.4 million at the end of 2023[8] - Cash and cash equivalents increased significantly to$1,027.8 million from $492.4 million at the end of 2023[7] Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2024, was$413,118 thousand, a decrease of 10.9% compared to $463,915 thousand in the same period of 2023[12] - The cash flow from investing activities showed a significant improvement, with a net cash inflow of$26,765 thousand compared to a net outflow of $172,808 thousand in the previous year[12] - The net cash inflow from operating activities was$413.1 million, down from $463.9 million in the first half of 2023[96] - In the first half of 2024, the group's financing activities generated a net cash inflow of$94.9 million, an increase of $215.3 million compared to a net cash outflow of$120.4 million in the same period of 2023[99] Production and Sales - The total production of copper and anode copper for the first half of 2024 was 159,971 tons, a 10.5% increase year-on-year[51] - The production of cathode copper decreased by 12.8% year-on-year to 62,450 tons during the same period[51] - Revenue from copper and anode copper sales reached $1,361.5 million, a growth of 22.5$1,111.6 million in the first half of 2023[82] - The sales revenue of cathode copper decreased by 9.3% to $517.2 million from$570.4 million in the previous year[82] Risks and Challenges - The company faces various risks in the second half of 2024, including a nearly 20% drop in international copper prices from the second quarter peak and ongoing geopolitical uncertainties[113] Investments and Projects - The new mining project has a total investment of approximately $513.0 million, with$100.0 million allocated for drainage and $413.0 million for construction recovery, aiming for an annual production scale of 2.2 million tons of copper concentrate[71] - The oxygen production system upgrade project aims to restore production levels to 4,000 standard cubic meters per hour and reduce energy consumption, with a total investment of$2.6 million[70] - The copper smelting project includes 14 sub-projects, with 9 already under construction and an overall investment completion ratio of 38.9%, totaling $19.3 million[74] Governance and Compliance - The company has established an audit committee to oversee financial reporting and internal controls, ensuring compliance with applicable accounting standards and regulations[126] - The company has complied with the Corporate Governance Code as per the Listing Rules during the six months ending June 30, 2024[125] - All directors confirmed compliance with the standards of conduct regarding securities trading during the six months ending June 30, 2024[128]