Mining Operations - The renewed mining permit for Zhangjiaba Mine is valid from February 21, 2021, to February 21, 2026, ensuring continued operations for the largest beige marble mine in China[13] - The company is primarily engaged in the production and sales of marble slags and trading of marble slabs in the People's Republic of China, positioning itself as a key player in the mining sector[13] - The company’s headquarters is located in Jiangyou City, Sichuan Province, China, which is strategically important for its mining operations[8] - There were no material changes to the marble resources and reserves estimates from March 2011 to December 2022, with total resources at 34.47 million cubic meters and total reserves at 12.29 million cubic meters as of December 31, 2022[21][22] - The Zhangjiaba mine contains 44.2 million cubic meters of measured and indicated marble resources, with 16.8 million cubic meters of proved and probable reserves[54] - The Group expects that large block production at the Zhangjiaba mine will commence no earlier than 2025[59] Financial Performance - For FY2022, the Group recorded revenue of approximately RMB72.3 million, a decrease of approximately 2.6% compared to RMB74.2 million for FY2021[26] - Gross profit for FY2022 was approximately RMB26.8 million, representing an increase of approximately 76.2% from RMB15.2 million for FY2021[26] - Net loss attributable to owners of the Company was approximately RMB61.9 million for FY2022, an increase of approximately 22.9% from RMB50.3 million for FY2021[27] - Sales of marble slags grew by 22.0% from approximately RMB58.6 million for FY2021 to approximately RMB71.6 million for FY2022[28] - The gross profit margin of the marble slag business improved from 24.3% to 37.6% due to increased sales prices[28] - The sales volume of marble slag increased by 6.4% from approximately 2.6 million tons to approximately 2.8 million tons during FY2022[47] - The average selling price of marble slag rose by 14.5% from RMB22.7 per ton to RMB26.0 per ton in FY2022[47] - The Group recorded no sales of marble slabs in FY2022, a decrease of approximately RMB15.5 million compared to RMB15.5 million in FY2021, due to tightened credit control[61] - Food services sales increased significantly by approximately RMB0.6 million, from RMB0.1 million in FY2021 to RMB0.732 million in FY2022, representing a growth of 571.6%[66] Business Strategy and Expansion - The company launched a virtual restaurant brand website (www.celeplate.co.uk) in August 2022, focusing on food delivery and ready-to-cook meal kits, expanding its business model into the food and beverage sector[14] - The company has initiated a click-and-mortar strategy to sell products through both online and offline channels, enhancing its market reach[14] - The company has established a franchise business model in the UK, diversifying its revenue streams beyond traditional mining operations[14] - The Company plans to develop a ground calcium carbonate (GCC) business to diversify its operations and is seeking cooperation partners for this initiative[33] - The company plans to temporarily exit the marble slab business until the real estate industry in China stabilizes and recovers[36] - The company is exploring new business opportunities to maximize shareholder value in the future[39] Governance and Management - The company has undergone changes in its board of directors, with new appointments made in September 2022, indicating a shift in governance structure[5] - The company has a significant focus on environmental, social, and governance (ESG) practices, as highlighted in its annual report[47] - The company believes that high standards of corporate governance provide a solid foundation for safeguarding the interests of shareholders and enhancing shareholder value[144] - The roles of Chairman and CEO are clearly defined and segregated to ensure independence and proper checks and balances[146] - The company has complied with all code provisions of the Corporate Governance Code for FY2022, except for deviations from provisions C.2.1, C.1.8, and F.2.2[145] - The Board currently consists of four executive Directors and three independent non-executive Directors, maintaining a balance of skills and experience[159] - The Company has established a Board Diversity Policy to ensure a balance of skills, experience, and diversity of perspectives appropriate to its business needs[193] Challenges and Risks - The property and construction industry remains challenged, impacting the growth potential of marble slab sales[34] - The company acknowledges the challenges posed by geopolitical tensions and a slowing global economy[39] - The Group is concerned about increasing counterpart credit risk amid an industry downturn in the property market in the PRC[52] Employee and Operational Insights - The total staff cost for FY2022 was approximately RMB 6.1 million, an increase from RMB 5.7 million in FY2021[120][123] - The Group employed a total of 38 employees as of December 31, 2022, compared to 36 employees in the previous year[120][123] - The Group emphasizes the importance of maintaining strong relationships with customers and suppliers to ensure business development and sustainability[118] - The Group recognizes employees as valuable assets and regularly reviews staff benefits to attract and retain suitable personnel[117]
中国金石(01380) - 2022 - 年度财报