SJI(SZ:000975)2014-01-27 16:00Financial Performance - In 2013, the company's operating revenue reached ¥593,733,973.66, representing a 131.76% increase compared to ¥256,179,555.03 in 2012[25]. - The net profit attributable to shareholders was ¥466,253,918.64, a significant increase of 2,781.46% from ¥16,181,168.27 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was ¥202,061,842.11, up 863.78% from ¥20,965,619.68 in 2012[25]. - The basic earnings per share rose to ¥0.4453, reflecting a 1,612.69% increase from ¥0.026 in 2012[25]. - The weighted average return on net assets for 2013 was 14.02%, a significant increase from 1.72% in 2012[25]. - In 2013, the company achieved a net profit of 562 million CNY, with a net profit attributable to the parent company of 466 million CNY, representing a 27.81-fold increase from the previous year[33]. - The company's total assets at year-end reached 4.786 billion CNY, a 1.89-fold increase compared to the previous year, while the net assets attributable to the parent company grew to 3.717 billion CNY, a 2.93-fold increase[33]. Asset Management and Restructuring - The company completed a major asset restructuring in 2013, shifting its main business focus to non-ferrous metal mining[21]. - The company acquired 49% of Yintai Shengda, making it a wholly-owned subsidiary, and increased its stake in Yulong Mining to 76.67%[32]. - The company completed significant asset restructuring in 2013, successfully transforming its main business to non-ferrous metal mining[32]. - The company received approval for a major asset restructuring involving the issuance of 197,987,769 shares to Hou Renfeng and others for asset acquisition[112]. - The company completed the acquisition of Yulong Mining on January 11, 2013, and the business operations shifted to non-ferrous metal mining[107]. - The major asset restructuring transaction completion resulted in the company holding an equity ratio of 18.24% in Yintai Resources[121]. - The restructuring is aimed at optimizing the company's asset portfolio and improving shareholder value[121]. Exploration and Production - The company reported a significant increase in exploration activities, controlling five metal mining exploration rights, with notable findings in the Huacao Baote area[35]. - The average production cost of Yulong Mining decreased compared to the previous year, indicating improved cost management[38]. - The total sales volume of non-ferrous metal mining reached 19,637.39 tons, with a production volume of 33,210.23 tons and an inventory of 13,660.34 tons[40]. - The company's mining assets include the Huabao Silver-Lead-Zinc Mine, with proven reserves of 6,008.10 tons of silver, 623,418 tons of lead, and 741,064 tons of zinc, meeting the standards of a large-scale mine[61]. - Significant copper ore bodies were discovered in the Yulong Mining area, with an average grade of silver at 322.58 g/t and copper at 3.25%[142]. Financial Management and Investments - The company invested 28.94 million CNY in constructing a new tailings pond to support its mining operations[34]. - The company’s investment activities generated a net cash inflow of CNY 285.39 million, a significant turnaround from a net cash outflow in the previous year[48]. - The company has consistently invested in bank wealth management products, with amounts ranging from 1,500 to 23,000, achieving returns between 1.09 and 182.61[69]. - The total amount invested in bank wealth management products during the reporting period was 100,000, with total returns exceeding 1,000[67]. - The company has diversified its investments across multiple banks, including 招商银行 and 浦发银行, to optimize returns[67]. Risk Management - The company faces risks related to fluctuations in non-ferrous metal prices and industry cyclicality, which investors should be aware of[14]. - The company emphasizes the importance of risk management, particularly regarding industry cyclicality and metal price fluctuations[87]. - The company has committed to avoiding competition with Yulong Mining, ensuring that no investments or participation in similar businesses occur during the tenure of the involved parties[132]. Corporate Governance - The company has established a comprehensive corporate governance structure, aligning with the requirements of the China Securities Regulatory Commission[184]. - The company has engaged independent directors in decision-making processes, ensuring their suggestions were adopted[190]. - The audit committee, consisting of three independent directors, conducted thorough reviews of the company's financial statements and found no significant misstatements or omissions[193]. - The company has established a complete and independent personnel management system, with all executives receiving compensation solely from the company and no overlapping roles with the controlling shareholder[200]. Shareholder and Dividend Policy - The company plans to distribute a cash dividend of ¥2.00 per 10 shares to all shareholders based on the total share capital as of December 31, 2013[6]. - The cash dividend for 2013 represents 46.57% of the net profit attributable to shareholders, which was 466,253,918.64 RMB[97]. - The company has maintained a consistent cash dividend policy, with the cash dividends for the past three years being 31.18% in 2011, 939.24% in 2012, and 46.57% in 2013 of the respective net profits[97]. Future Outlook - The company plans to enhance its exploration efforts and increase resource reserves to align with its development strategy[38]. - Future outlook includes exploring new investment opportunities in technology and market expansion to further enhance financial performance[69]. - The company aims to achieve a net profit of no less than RMB 400 million from Yulong Mining in 2014, enhancing its main business profitability[84].