NONFEMET(000060)2025-04-14 11:40Financial Performance - The company's operating revenue for 2024 was ¥59.81 billion, a decrease of 8.82% compared to ¥65.60 billion in 2023[19]. - Net profit attributable to shareholders for 2024 reached ¥1.08 billion, an increase of 57.30% from ¥0.69 billion in 2023[19]. - The net cash flow from operating activities was ¥795.59 million, down 49.35% from ¥1.57 billion in 2023[19]. - Basic earnings per share for 2024 were ¥0.29, reflecting a 61.11% increase from ¥0.18 in 2023[19]. - Total assets at the end of 2024 amounted to ¥45.84 billion, a 6.54% increase from ¥43.02 billion at the end of 2023[19]. - Total revenue for 2024 was approximately ¥59.81 billion, a decrease of 8.82% compared to ¥65.60 billion in 2023[79]. - Revenue from lead, zinc, and copper mining, smelting, and sales increased by 18.33% to ¥45.36 billion, accounting for 75.84% of total revenue[79]. - Revenue from aluminum, nickel, and zinc processing and sales rose by 70.95% to ¥2.60 billion, representing 4.35% of total revenue[79]. - The non-ferrous metal trading business saw a significant decline of 51.97%, with revenue dropping to ¥12.44 billion, which accounted for 20.79% of total revenue[79]. - The company reported a total operating cost of approximately ¥55.94 billion, with a gross profit margin of 5.85%[81]. Production and Operations - The company continues to focus on the mining, selection, and smelting of non-ferrous metals, particularly lead and zinc[17]. - The company has a production capacity of 300,000 tons of lead and zinc per year, with significant resource control through acquisitions and integrations[30]. - In 2024, the company's mining operations produced 265,000 tons of lead and zinc metal, a year-on-year increase of 0.84%[47]. - The smelting operations produced 871,500 tons of copper, lead, and zinc products, reflecting a year-on-year growth of 3.26%, with cathode copper production at 431,700 tons, up 7.11%[47]. - The company’s total silver production reached 153 tons and gold production was 267 kilograms in 2024[47]. - The company’s total industrial sulfuric acid production was 1.74 million tons in 2024[47]. - The company has established Shandong Zhongjin Lingnan Copper Industry Co., Ltd. to enter the copper smelting industry in 2023[17]. - The company has undergone several changes in its main business operations, including the acquisition of Canadian Global Star Mining Company, which added copper and gold mining to its portfolio[17]. Environmental and Social Responsibility - The company has a commitment to environmental and social responsibility, as outlined in its annual report[5]. - The company has been recognized as a national-level green factory and has received multiple awards for its technological innovations and environmental initiatives[75]. - The company successfully renewed its national pollutant discharge permits for various subsidiaries in 2024, ensuring compliance with environmental regulations[182]. - The total COD emissions from the company's operations were reported at 32.76 tons, well below the industry standard limit of 500 tons per annum[183]. - The company is committed to reducing pollution and enhancing energy efficiency through continuous technological innovation and environmental remediation projects[181]. - The company has implemented measures to strengthen source control and hazard identification in its operations[181]. - The company has adopted new technologies for waste gas treatment, including high-efficiency dust removal and advanced absorption techniques[188]. - The company has established emergency response plans for environmental incidents, ensuring timely updates and training[189]. Research and Development - The company has a strong focus on technological innovation, with 10 national high-tech enterprises and several awards for scientific achievements in 2024[74]. - R&D investment increased by 15.79% to approximately ¥503 million in 2024, compared to ¥434 million in 2023[93]. - The number of R&D personnel grew by 8.16% to 1,127 in 2024, up from 1,042 in 2023[93]. - The project on copper converter slag resource recovery aims to improve processing efficiency for low-grade copper materials, enhancing the smelting plant's raw material adaptability[94]. - The development of high-precision composite metal materials for electronics and new energy vehicles is ongoing, targeting high performance and low cost[94]. Governance and Management - The company maintains a strong governance structure, ensuring compliance with regulatory requirements and enhancing operational transparency[138]. - The company has implemented a performance-based salary system for its directors and senior management, linked to annual economic performance assessments[155]. - The board of directors has approved a dividend payout of 0.5 RMB per share, reflecting confidence in the company's financial health[147]. - The company has maintained a stable management structure with no significant changes in leadership roles during the reporting period[140]. - The company is focusing on enhancing its leadership team to drive future growth and strategic initiatives[145]. Market Expansion and Strategy - The company is actively pursuing cost reduction and efficiency improvement strategies, implementing 26 key measures to optimize production and management[77]. - The company is expanding its market presence by developing innovative materials to replace imported products, enhancing its competitive edge[94]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[135]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase the company's resource reserves by 40%[136]. Financial Management and Investments - The company reported an investment income of ¥138.86 million, accounting for 8.67% of total profit, primarily from long-term equity investments[98]. - The total restricted assets at the end of the reporting period amounted to CNY 5,086,314,191.27, primarily due to margin deposits and frozen funds[104]. - The investment amount for the reporting period was CNY 607,176,553.53, representing a significant decrease of 88.18% compared to CNY 5,138,803,238.42 in the same period last year[105]. - The company has significant restricted cash of CNY 243,372,771.97, which is tied up in margin deposits and frozen funds[104]. Employee and Labor Relations - The total number of employees at the end of the reporting period was 11,432, with 5,569 in the parent company and 5,863 in major subsidiaries[167]. - The company has a comprehensive training plan focusing on various levels of personnel, including management and technical staff[169]. - The company emphasizes performance-based compensation linked to corporate and individual performance[168]. - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[174]. Future Outlook - The company has set a future outlook with a revenue target of 1.5 billion RMB for the next fiscal year, indicating a growth forecast of 25%[133]. - The company plans to produce 251,700 tons of lead and zinc metals in 2025, including 71,000 tons of lead and 180,700 tons of zinc[123]. - The company is focusing on a new strategy called "One Body, Two Wings," which emphasizes the development of deep processing industries for rare metals and materials[122].