Financial Performance - The operating revenue for the year ended December 31, 2024, was approximately RMB 2,281.4 million, an increase of about 11.3% compared to RMB 2,049.8 million in 2023[5] - The consolidated net profit attributable to shareholders was approximately RMB 185.9 million, reflecting a growth of about 14.3% from RMB 162.7 million in 2023[5] - The gross profit margin decreased to approximately 24.3%, down about 9.6 percentage points from 33.9% in 2023[5] - The basic earnings per share increased to approximately RMB 0.08, up RMB 0.01 from RMB 0.07 in 2023[5] - The company reported a net profit of RMB 173.9 million for continuing operations, compared to RMB 162.3 million in 2023[7] - The company’s consolidated profit for the year 2024 is RMB 215,259,000, an increase from RMB 209,954,000 in 2023, representing a growth of approximately 2.1%[31] - The net profit for 2024 was approximately RMB 173.9 million, up about 7.1% from RMB 162.3 million in 2023[55] - The group reported a comprehensive profit attributable to shareholders of approximately RMB 185.9 million in 2024, an increase of about 14.3% from RMB 162.7 million in 2023[55] Dividends - The board proposed a final dividend of RMB 0.05 per share, consistent with the final dividend amount for 2023[5] - The company plans to distribute a final dividend of RMB 0.05 per share for 2024, consistent with the dividend for 2023[32] - The total proposed final dividend for 2024 amounts to RMB 110,500,000, unchanged from 2023[34] - The company plans to distribute a dividend of approximately RMB 110.5 million, pending approval at the annual general meeting[83] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 7,723.2 million, a decrease from RMB 7,837.6 million in 2023[9] - Total liabilities as of December 31, 2024, were RMB 2,138.0 million, down from RMB 2,317.1 million in 2023[9] - Current assets totaled RMB 2,161.5 million, slightly down from RMB 2,164.0 million in 2023[8] - The company’s cash and cash equivalents were RMB 533.8 million, a decrease from RMB 553.8 million in 2023[8] - The company’s net current assets as of December 31, 2024, were RMB 652,507 thousand, down from RMB 979,049 thousand in 2023[48] - The total assets as of December 31, 2024, were RMB 7,723,225 thousand, a decrease from RMB 7,837,578 thousand in 2023[48] - The company’s long-term payable for mineral resource rights was RMB 331,077 thousand as of December 31, 2024, down from RMB 365,909 thousand in 2023[45] Revenue and Sales - The main business income from electrolytic nickel was RMB 1,161,909 thousand in 2024, slightly down from RMB 1,171,991 thousand in 2023, while cathode copper revenue increased significantly to RMB 601,838 thousand from RMB 296,104 thousand[15] - The total operating revenue for the year ended December 31, 2024, was RMB 2,281,399 thousand, an increase from RMB 2,049,837 thousand in 2023, representing a growth of approximately 11.3%[15] - The total revenue from the main business in 2024 was RMB 2,259.8 million, an increase of 11.5% compared to RMB 2,027.6 million in 2023[61] - The sales volume of cathode copper in 2024 was approximately 8,939 tons, an increase of about 82.1% compared to 4,908 tons in 2023[54] - The sales volume of copper concentrate in 2024 is approximately 10,001 tons, an increase of about 29.8% from 7,703 tons in 2023[64] Costs and Expenses - The total operating costs rose to RMB 1,726,646 thousand in 2024 from RMB 1,354,798 thousand in 2023, reflecting an increase of approximately 27.5%[15] - Selling expenses in 2024 increased by approximately 74.3% to RMB 17.6 million from RMB 10.1 million in 2023, mainly due to increased transportation costs for products sold to distant locations[66] - Financial expenses in 2024 decreased to RMB 38.8 million from RMB 49.7 million in 2023, a reduction of about RMB 10.9 million, primarily due to adjustments in financing scale and costs[68] - Interest expenses decreased to RMB 23,705 thousand in 2024 from RMB 37,498 thousand in 2023, a reduction of approximately 36.8%[25] - The company incurred a total of RMB 48,254 thousand in taxes for the year ended December 31, 2024, compared to RMB 43,082 thousand in 2023, representing an increase of about 11.5%[16] Production and Operations - The company produced 10,274 tons of electrolytic nickel in 2024, representing a 36.7% increase compared to 2023, and produced 8,792 tons of cathode copper, a 52.4% increase from the previous year[53] - The domestic electrolytic nickel production in 2024 was estimated at 378,000 tons, a growth of approximately 62.9% compared to 2023[52] - The company aims to maintain stable production levels for its main products, ensuring balanced operations across mining, selection, smelting, and refining processes[87] - The company plans to produce 12,000 tons of electrolytic nickel in 2025, representing an increase of approximately 9.1% compared to the production plan for 2024[88] - The company plans to maintain a stable production level of 9,900 tons of cathode copper in 2025, consistent with the production plan for 2024[88] Customer Concentration - The company’s three largest customers contributed 26%, 21%, and 12% to total revenue in 2024, compared to 36%, 14%, and 10% in 2023, indicating a shift in customer concentration[14] Governance and Compliance - The company has adhered to all corporate governance codes during the reporting period, ensuring the protection of shareholder interests[90] - The board of directors includes both executive and non-executive members, ensuring diverse governance[98] Future Outlook - The company expects an increase in domestic consumption of electrolytic nickel and cathode copper in 2025, driven by the transition to high-quality development in the Chinese economy[87] - The company plans to enhance safety production facilities and environmental protection measures in response to rising raw material prices and regulatory requirements[53]
新疆新鑫矿业(03833) - 2024 - 年度业绩