SDR(SZ:000603)2025-04-28 17:45Financial Performance - The company's operating revenue for 2024 was ¥2,013,208,417.83, a decrease of 10.66% compared to ¥2,253,503,431.67 in 2023[19]. - Net profit attributable to shareholders for 2024 reached ¥390,035,399.95, representing a significant increase of 163.56% from ¥147,986,998.10 in 2023[19]. - The net profit after deducting non-recurring gains and losses was ¥260,269,158.75, an increase of 85.74% compared to ¥140,122,602.26 in 2023[19]. - The net cash flow from operating activities improved to ¥730,570,099.98, up 131.70% from ¥315,304,795.38 in 2023[19]. - Basic earnings per share for 2024 were ¥0.57, a rise of 171.43% from ¥0.21 in 2023[19]. - Total assets at the end of 2024 were ¥6,606,750,498.27, reflecting a slight increase of 0.87% from ¥6,549,798,405.02 at the end of 2023[19]. - Net assets attributable to shareholders decreased by 2.65% to ¥3,043,161,435.15 from ¥3,125,886,408.32 at the end of 2023[19]. - The weighted average return on net assets for 2024 was 11.96%, an increase of 7.11 percentage points from 4.85% in 2023[19]. Dividend Distribution - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total of 689,969,346 shares[5]. - The company reported a cash dividend of 0.751395 CNY per 10 shares, totaling 51,439,600.95 CNY, which represents 34.76% of the net profit attributable to shareholders for the year 2023[178]. - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares for the year 2024, amounting to 68,996,934.60 CNY, with no stock dividends or capital reserve transfers[180]. Operational Highlights - The company has a commitment to environmental and social responsibility, as detailed in the report[5]. - The company has undergone several changes in its registered address, with the current address located in Beijing[14]. - The company’s stock is listed on the Shenzhen Stock Exchange under the ticker code 000603[14]. - The company has a dedicated investor relations team to handle inquiries and provide information to shareholders[15]. - The company’s annual report is available on the Shenzhen Stock Exchange website and various financial news platforms[16]. Market and Industry Outlook - The global silver demand is expected to grow by 2% in 2024, reaching 37,918 tons, driven by industrial applications and green economy initiatives[27]. - The average price of silver in London is projected to rise to $28.27 per ounce in 2024, reflecting a year-on-year increase of 21.07%[27]. - Global gold demand is forecasted to reach 4,553.7 tons in 2024, with a 25% increase in investment demand, totaling 1,179.5 tons[28]. - The average price of gold in London is expected to be $2,386.20 per ounce in 2024, up 22.97% from the previous year[28]. - The global refined lead supply is projected to exceed demand by 40,000 tons in 2024, while refined zinc supply will exceed demand by 56,000 tons[29]. Resource Management - The company controls seven mining subsidiaries with a cumulative verified silver metal amount of approximately 12,000 tons and gold metal amount of about 34 tons, with an annual mining capacity of nearly 2 million tons[34]. - The company has obtained mining licenses for several projects, including a production scale of 250,000 tons/year for the Bayannur silver polymetallic mine and 396,000 tons/year for the Honglin Mining project, with expected trial production in Q3 2025[35]. - The company is engaged in the resource utilization of solid waste metals, focusing on the recycling of secondary nickel to enhance economic benefits[36]. Environmental and Sustainability Efforts - The company emphasizes sustainable development, with all operating mines achieving green certification and ongoing projects adhering to green mining standards[57]. - The company has implemented a recycling process for solid waste containing nickel and copper from various manufacturing sectors, producing nickel and copper products for sale[44]. - The company has committed to ongoing training and organizational improvements to support effective internal control implementation[184]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans, which do not constitute substantial commitments to investors[5]. - The company has established a comprehensive risk management framework for its hedging activities, focusing on market, liquidity, credit, operational, and legal risks[106]. - The company recognizes the potential impact of policy changes on its operations and will stay informed to mitigate related risks[127]. Governance and Management - The company maintains complete independence from its controlling shareholder in terms of assets, personnel, finance, organization, and business operations, ensuring independent accounting and risk responsibility[139]. - The company has a robust governance structure with a shareholders' meeting as the highest authority, a board of directors for decision-making, and a supervisory board for oversight[140]. - The management team consists of experienced professionals with over ten years in the industry, providing strategic insights and operational support for resource expansion and revenue growth[59]. Future Plans and Strategies - The company plans to accelerate the construction and production of related mines in 2025 while controlling production costs to maximize operational efficiency[45]. - The company aims to strengthen its market competitiveness in the precious metals sector by focusing on mergers and acquisitions of high-quality gold and silver mineral resources, enhancing production management, and increasing resource reserves[116]. - The company is actively pursuing the integration of mining rights for the Baiyinda Silver Polymetallic Mine, with a total area of 6.5781 square kilometers[63].