SJI(SZ:000975)2017-06-14 16:00Financial Performance - The company's operating revenue for 2016 was ¥761,851,976.37, an increase of 4.24% compared to ¥730,880,266.17 in 2015[16] - The net profit attributable to shareholders for 2016 was ¥219,643,584.57, a decrease of 11.40% from ¥247,913,387.52 in 2015[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥212,961,197.44, down 3.64% from ¥221,011,925.43 in 2015[16] - Basic earnings per share for 2016 were ¥0.2031, a decrease of 11.15% from ¥0.2286 in 2015[17] - The weighted average return on equity for 2016 was 5.93%, down from 6.63% in 2015[17] - The gross profit margin for the non-ferrous metal mining sector was 77.70%, a decrease of 0.62% compared to the previous year[73] - The revenue from non-ferrous metal mining accounted for 99.64% of total revenue, with a revenue of ¥759,075,381.90, up 4.32% from ¥727,640,110.29 in 2015[71] - Lead concentrate (including silver) generated ¥628,312,613.46, which is 82.47% of total revenue, showing a 13.56% increase from ¥553,286,256.80 in 2015[71] - Zinc concentrate revenue decreased by 25.00% to ¥130,762,768.44, down from ¥174,353,853.49 in 2015[71] Cash Flow and Investments - The net cash flow from operating activities increased by 53.47% to ¥338,581,097.29 from ¥220,622,845.87 in 2015[17] - Operating cash inflow increased by 121.80% to ¥1,561,203,366.24, while operating cash outflow rose by 152.99% to ¥1,222,622,268.95[89] - Investment activity cash inflow decreased by 45.86% to ¥3,800,510,211.17, while cash outflow decreased by 36.64% to ¥4,373,126,216.37[89] - The company invested a total of ¥15 million during the reporting period, with ¥10 million allocated to Shengwei Mining and ¥5 million to Yintai Shenghong[92] - The company plans to increase investment in its main mining operations to enhance ore processing capacity and resource acquisition, aiming for sustainable growth[100] Resource Management and Exploration - The company plans to increase exploration efforts to enhance its recoverable reserves, particularly focusing on high-grade ore bodies[33] - The company’s mining rights area has confirmed ore reserves of 3,249.16 million tons, with metal quantities including 6,359.616 tons of silver and 71.2846 million tons of lead[36] - The newly discovered resources in the Huabao area included 20 new ore bodies, with a total ore volume of 653,300 tons and an average grade of lead at 4.25%, zinc at 6.92%, and silver at 449.4 g/t[41] - The company plans to strengthen exploration efforts to expand its resource reserves and enhance the economic value of its mining operations[101] Subsidiaries and Acquisitions - The company’s subsidiary, Yulong Mining, is currently the largest single silver mine in China, with an annual silver production of approximately 150 tons[35] - The company successfully acquired part of Eldorado's gold exploration and mining assets in China, which includes 4 mining rights and 9 exploration rights, enhancing its profitability and resource reserves[102] - The company established a new subsidiary, Yintai Shenghong Supply Chain Management Co., Ltd., with a registered capital of ¥200 million, in which the company holds an 80% stake[78] Shareholder and Governance - The company will not distribute cash dividends for the 2016 fiscal year, despite having a positive profit available for distribution to ordinary shareholders[112] - The company has committed to full cash compensation for any losses caused by non-compliance with commitments[118] - The company has established a three-year lock-up period for 161,039,922 shares held by China Yintai, starting from January 24, 2013[119] - The company has a robust governance structure, having revised its articles of association and established a three-year dividend return plan[192] Environmental and Social Responsibility - The company emphasizes its commitment to social responsibility, including significant cash dividends to investors and various community support initiatives[160] - The company has implemented measures to minimize environmental impact, such as dust suppression and land reclamation efforts in mining areas[160] - The company continues to focus on balancing economic benefits with social and environmental responsibilities[160] Audit and Compliance - The audit committee confirmed that all transactions were recorded accurately and reflected the company's financial status as of December 31, 2016[200] - The company received a preliminary audit opinion from the registered accountant, affirming the completeness of the financial statements[200] - The company reported a total of 7,069.7 million RMB in related party transactions, accounting for 5.31% of similar transaction amounts[135] Employee Management - The company has a total of 385 employees, with 171 in production, 24 in sales, 70 in technical roles, 9 in finance, and 111 in administration[187] - The company has established a competitive salary management system, linking compensation to performance evaluations[188] - The independent directors receive an annual allowance of RMB 100,000, with other expenses covered by the company[183]