Financial Performance - For the fiscal year ending December 31, 2024, the company's operating revenue was CNY 520.93 billion, a decrease of 0.18% compared to CNY 521.89 billion in 2023[10]. - The net profit attributable to shareholders was CNY 6.96 billion, representing a 7.03% increase from CNY 6.51 billion in the previous year[10]. - The net profit after deducting non-recurring gains and losses was CNY 8.29 billion, a significant increase of 54.22% from CNY 5.37 billion in 2023[10]. - The net cash flow from operating activities decreased by 77.06% to CNY 2.51 billion, down from CNY 10.93 billion in the previous year[10]. - The total assets at the end of 2024 were CNY 193.13 billion, an increase of 14.85% compared to CNY 168.15 billion at the end of 2023[10]. - The net assets attributable to shareholders increased by 15.61% to CNY 77.95 billion from CNY 67.42 billion in 2023[10]. - Basic earnings per share for 2024 were CNY 2.01, up 6.91% from CNY 1.88 in 2023[12]. - The weighted average return on equity increased to 9.58%, up from 9.23% in the previous year[12]. - The company reported a net cash flow from operating activities of CNY -6,068,554,414 in Q1 2024, indicating a significant cash outflow[20]. - The company’s consolidated operating revenue for the fiscal year 2024 is RMB 520,928,245,943, a decrease of RMB 964,266,223 or -0.18% compared to the previous year[52]. Production and Sales - Copper production increased by 9.28% to 229.19 thousand tons compared to the previous year (209.73 thousand tons)[26]. - Gold production rose by 4.99% to 118.26 tons year-on-year (previous year: 112.64 tons)[26]. - The revenue from copper cathodes was RMB 268,526,293,106, with a gross margin increase of 1.00 percentage point[61]. - The revenue from gold sales reached RMB 65,896,987,916, reflecting a year-over-year increase of 27.84%[61]. - The production volume of copper reached 229.19 million tons, reflecting a year-over-year increase of 9.28%[65]. - The production of gold was 118.26 tons, with a sales increase of 5.65% compared to the previous year[65]. Investments and Acquisitions - The company acquired a 49% stake in Jiangxi Depu Mining Equipment Co., gaining control over its operational decisions[70]. - Jiangxi Copper Group invested 12,600 million in Jiangxi Copper Group Silver Mountain Mining Co., holding 100% equity[98]. - Jiangxi Jiang Copper Huadong Copper Foil Co., with an investment of 98,965.10 million, holds 49% equity and focuses on the production and sales of electrolytic copper foil products[95]. - The acquisition of Jiangxi DePu Mining Equipment Co., Ltd. resulted in identifiable net assets with a fair value of RMB 76,886 thousand[175]. - The company acquired Jiangxi Chuanhe New Materials Co., Ltd. for a cash consideration of RMB 200 million, resulting in a 77.16% ownership stake[178]. Financial Management and Costs - Operating costs decreased by 1.07% to RMB 502,484,215,994, primarily due to changes in raw material prices and sales volume[54][55]. - Research and development expenses increased by 9.63% to RMB 1,118,434,386, indicating a focus on innovation[54][55]. - The company reported a significant increase in financing cash flow by 196.61% to RMB 5,732,637,522, driven by increased borrowing[54][55]. - The company’s financial costs increased to RMB 2,517,793, up from RMB 2,323,801, reflecting a rise of 8.4%[162]. - The company’s interest-bearing bank borrowings rose to RMB 47,776,953 thousand in 2024 from RMB 37,453,136 thousand in 2023, an increase of approximately 27.8%[168]. Risk Management and Compliance - The company emphasizes the importance of risk management and internal controls to mitigate potential risks associated with safety, currency fluctuations, and product price volatility[106]. - The company is exposed to foreign exchange risk due to its reliance on USD for international transactions, which could negatively impact profitability if not effectively managed[108]. - The company has maintained compliance with the corporate governance code and has not arranged insurance for directors facing legal litigation due to perceived low additional risk[116]. - The company received a corrective decision from the Shandong Securities Regulatory Bureau in April 2024, addressing compliance issues and has submitted a written report on corrective measures[125]. Dividend and Shareholder Information - The company plans to distribute a final dividend of RMB 7 per 10 shares for the fiscal year 2024, totaling approximately RMB 2,416,601,345.90, which accounts for 34.71% of the net profit attributable to shareholders[130]. - The proposed final dividend for 2024 is RMB 0.70 per share, up from RMB 0.60 per share in 2023, reflecting an increase of 16.7%[196]. - The total proposed final dividend amounts to RMB 2,416,601,000 for 2024, compared to RMB 2,077,424,000 in 2023, marking a year-over-year increase of approximately 16.3%[196]. - The company has 3,452,287,637 shares outstanding after excluding treasury shares, compared to 3,462,729,405 shares in 2023[196]. Future Outlook and Strategy - The company aims to enhance its core competitiveness and achieve high-quality development through innovation and talent-driven strategies[103]. - The company plans to produce 200,000 tons of copper concentrate, 2.37 million tons of cathode copper, 139 tons of gold, 1,243 tons of silver, 6.53 million tons of sulfuric acid, and 2.01 million tons of copper processing materials in 2025[104]. - The annual investment plan for 2025 is set at RMB 12.814 billion, which includes fixed asset and equity investments[104]. - The company is committed to green development, promoting low-carbon development in the industrial chain, and utilizing financial incentives for equipment upgrades and technology transformation[105].
江西铜业股份(00358) - 2024 - 年度业绩