SD-GOLD(SH:600547)2025-03-27 13:15Dividend Distribution - The proposed cash dividend for 2024 is CNY 2.28 per 10 shares, totaling CNY 1,019,941,931.70, which represents 40.05% of the net profit attributable to ordinary shareholders after deducting perpetual bond interest[8]. - The company has distributed a cash dividend of CNY 0.8 per 10 shares for the first half of 2024, amounting to CNY 357,874,362.00[8]. - The profit distribution plan is subject to approval at the 2024 annual general meeting of shareholders[9]. Financial Performance - The company's operating revenue for 2024 reached ¥82.52 billion, representing a 39.21% increase compared to ¥59.28 billion in 2023[27]. - Net profit attributable to shareholders was ¥2.95 billion, a 26.80% increase from ¥2.33 billion in 2023[27]. - The net cash flow from operating activities was ¥13.34 billion, showing a significant increase of 94.78% from ¥6.85 billion in 2023[27]. - Basic earnings per share increased to ¥0.57, up 35.71% from ¥0.42 in 2023[28]. - The total assets of the company at the end of 2024 were ¥160.66 billion, a 19.36% increase from ¥134.60 billion in 2023[27]. - The company's net assets attributable to shareholders increased to ¥37.80 billion, a 14.24% rise from ¥33.08 billion in 2023[27]. - The weighted average return on equity rose to 10.85%, up from 7.84% in 2023[28]. Operational Highlights - In 2024, the company achieved a gold production of 46.17 tons, an increase of 4.39 tons or 10.51% year-on-year[43]. - The company completed exploration investments of 590 million RMB, achieving an additional gold resource of 58.8 tons[44]. - The company acquired 70% equity in Baotou Changtai Mining, enhancing its resource base[44]. - The company invested 8.63 billion RMB in R&D, a year-on-year increase of 8.42%[46]. - The company successfully integrated 123 smart mining projects, showcasing its technological leadership[47]. Market and Industry Trends - In 2024, the international spot gold price reached a high of $2,790 per ounce, ending the year at $2,624 per ounce, an increase of approximately 27% compared to the previous year's closing price of $2,063 per ounce[51]. - Global gold demand reached a record high of 4,974 tons in 2024, with central banks purchasing approximately 1,045 tons, marking the third consecutive year of purchases exceeding 1,000 tons[52]. - Domestic gold consumption in China decreased by 9.58% year-on-year to 985.31 tons in 2024, with gold jewelry consumption dropping by 24.69%[52]. Research and Development - Research and development investment increased by 8.42% in 2024, with 265 patents applied for and 176 patents granted[58]. - The company is focused on technological innovation, investing in seven key research areas to overcome technical challenges in mining[144]. - The company plans to invest in new technologies to improve extraction processes, aiming for a 10% increase in yield[106]. Safety and Environmental Initiatives - The company has implemented a comprehensive safety management system, prioritizing safety production above all else, to enhance operational safety and sustainability[62]. - The company has been actively involved in environmental protection initiatives, advancing its "green mining" standards and promoting sustainable development practices[67]. - The company is committed to enhancing safety management by implementing a dual prevention mechanism and investing in safety training and technology to improve operational safety levels[150]. Governance and Compliance - The company’s board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[5]. - The company has received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[7]. - The company has established a robust internal information reporting system to enhance transparency and ensure timely and accurate information disclosure[161]. - The company has held multiple shareholder meetings to ensure compliance and protect minority shareholders' rights, enhancing communication with investors[157]. Strategic Acquisitions and Investments - The company approved the acquisition of a 70% stake in Baotou Changtai Mining Co., Ltd. during the board meeting on March 11, 2024[190]. - The company completed the acquisition of Osino Resources Corp. for a total amount of CNY 189,005.86 million, purchasing 100% of the issued and outstanding common shares[116]. - The company is actively pursuing mergers and acquisitions to secure high-quality resources, as seen with the acquisition of Osino Resources Corp. adding approximately 127.2 tons of gold resources[139]. Shareholder Engagement - The company continues to prioritize transparency and shareholder engagement through regular updates and disclosures on its official website[175]. - The company conducted nearly 100 investor communication activities, engaging over 1,100 market participants, and responded to over 300 inquiries from retail investors throughout the year[163]. - The company maintains a clear separation from its controlling shareholder in terms of operations and decision-making, ensuring independent governance and fair treatment of all shareholders[158].