TNMG(SZ:000630)2025-04-22 12:45Financial Performance - The company's operating revenue for 2024 reached ¥145.53 billion, representing a 5.88% increase compared to ¥137.45 billion in 2023[25]. - The net profit attributable to shareholders for 2024 was ¥2.81 billion, a 4.05% increase from ¥2.70 billion in 2023[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 43.95% to ¥2.69 billion in 2024 from ¥1.87 billion in 2023[25]. - The total assets at the end of 2024 were ¥80.94 billion, a 3.45% increase from ¥78.25 billion at the end of 2023[25]. - The company's average return on equity for 2024 was 8.54%, slightly down from 8.83% in 2023[25]. - The operating cost for 2024 was approximately ¥135.22 billion, which is a 6.07% increase from ¥127.48 billion in 2023[49]. - Non-trade revenue accounted for 96.63% of total operating revenue in 2024, increasing by 9.58% year-on-year[51]. - The revenue from gold and other by-products increased by 31.17% in 2024, primarily due to a significant rise in gold prices[53]. - The company reported a total revenue of approximately CNY 39.22 billion, with a net profit of CNY 795.21 million for the period[107]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[7]. - The company plans to distribute a cash dividend of 0.80 RMB per 10 shares, totaling approximately 1.01 billion RMB, based on a total share capital of 12,667,009,987 shares as of December 31, 2023[173]. - The total cash dividend for the year is expected to be 1.28 billion RMB, representing 45.52% of the net profit attributable to the parent company[178]. - The company has not proposed any stock dividends or capital reserve transfers in its profit distribution plan[173]. Operational Highlights - The company achieved an operating revenue of approximately ¥145.53 billion in 2024, representing a year-on-year increase of 5.88% compared to ¥137.45 billion in 2023[49]. - The production volume included 176.80 thousand tons of cathode copper, 41.58 thousand tons of copper processing materials, and 535.96 thousand tons of sulfuric acid, successfully meeting the annual production targets[49]. - The company invested approximately ¥76.5 million in exploration funds in 2024, resulting in the addition of 60 thousand tons of inferred copper resources[43]. - The company’s cathode copper production capacity exceeds 1.7 million tons annually, making it one of the largest cathode copper producers in China[44]. - The sales volume of cathode copper decreased by 0.64% to 1,757,539 tons, while production increased by 0.67% to 1,768,029 tons[58]. Governance and Compliance - The company has a comprehensive governance structure, including a board of directors and supervisory board[7]. - The company emphasizes the importance of investment risk awareness regarding forward-looking statements in the annual report[7]. - The company maintains independence in personnel, assets, finance, business, and organization from its controlling shareholder[132]. - The company has established an independent finance department for accounting and management, ensuring compliance with accounting standards[133]. - The company has a structured compensation management system for its senior management, ensuring alignment with performance outcomes[158]. Environmental Responsibility - The company has a commitment to social responsibility and environmental considerations as part of its operational strategy[7]. - The company adheres to major environmental protection laws, including the Environmental Protection Law and the Air Pollution Prevention and Control Law, to promote high-quality development[189]. - The company has implemented measures to ensure that all emissions are within the prescribed limits, with no exceedances reported for key pollutants[191]. - The company is committed to establishing a modern environmental governance system to enhance ecological protection efforts[189]. - The company has implemented a new environmental protection chimney system to reduce emissions further, enhancing compliance with environmental standards[195]. Research and Development - The company’s R&D investment reached CNY 4.68 billion, marking a year-on-year increase of 12.38%[123]. - A total of 329 patents were authorized, including 63 invention patents, during the reporting period[123]. - The company is investing 100 million CNY in R&D for new technologies aimed at improving production efficiency[5]. - The number of R&D personnel increased by 2.19% to 2,431 in 2024 from 2,379 in 2023[75]. Market Strategy and Expansion - The company is actively pursuing new strategies for market expansion and product development, particularly in the green technology sector[88]. - The company plans to produce 189.6 thousand tons of cathode copper and 43.05 thousand tons of copper processing materials in 2025[113]. - The company expects domestic demand for copper to remain stable, driven by a GDP growth target of around 5.0% in China for 2025[109]. - The company aims to enhance operational efficiency and cost control in response to declining processing fees for imported copper ore[110]. Leadership and Management Changes - The company received resignation reports from several board members and supervisors due to retirement and job adjustments, including the resignation of Chairman Wang Nongsheng effective May 8, 2024[139]. - The company is undergoing a leadership transition with multiple appointments and resignations, which may impact future strategic initiatives[141]. - The company aims to maintain compliance with legal requirements regarding the minimum number of supervisors following recent resignations[141]. - The company has a focus on enhancing its governance structure through the appointment of qualified individuals to key positions[142].