Company Overview - Zhaojin Mining has approximately 39.19 million ounces of gold mineral resources and about 15.79 million ounces of recoverable gold reserves as of December 31, 2021[8]. - The company is recognized as one of China's leading gold producers and the largest gold refining enterprise in the country[8]. - Zhaojin Mining aims to continuously increase gold reserves and production while actively participating in the integration and development of gold resources domestically and internationally[8]. - The company was established on April 16, 2004, and listed on the Hong Kong Stock Exchange on December 8, 2006[8]. - Zhaojin Mining's operations are primarily located in Zhaoyuan City, which accounts for approximately 10% of China's total remaining gold resources[8]. - The company has multiple subsidiaries and joint ventures across major gold-producing regions in China as of December 31, 2021[8]. - Zhaojin Mining's development philosophy emphasizes sustainable growth and delivering excellent performance to shareholders and society[8]. Financial Performance - The company's total revenue for 2021 was approximately RMB 6,859,446,000, a decrease of about 10.32% compared to RMB 7,648,587,000 in 2020[17]. - The net profit for 2021 was approximately RMB 191,033,000, representing a significant decline of about 84.53% from RMB 1,234,798,000 in 2020[17]. - Earnings per share attributable to ordinary shareholders were RMB 0.01, a decline of approximately 96.80% from RMB 0.32 in 2020[17]. - The gross profit was approximately RMB 2,692,077,000, representing a decrease of about 25.53% from RMB 3,615,171,000 in 2020, with a gross margin of approximately 39.25%[34]. - Other income and gains decreased by approximately 30.84% to RMB 557,978,000 from RMB 806,759,000 in 2020[34]. - The company's net profit attributable to shareholders was approximately RMB 33,697,000, a significant decrease of about 96.80% from RMB 1,052,163,000 in 2020[36]. Production and Operations - The total gold production for the year was 23,657.20 kg (approximately 760,596.10 ounces), a decrease of about 33.58% compared to the previous year[16]. - The copper production for 2021 was 7,216 tons, down approximately 38.12% year-on-year[17]. - The company aims to achieve a total gold production of 27,978.34 kg (approximately 89.95 million ounces) in 2022, with 14,722.53 kg (approximately 47.33 million ounces) coming from mining[43]. - In 2021, the total gold ore consumption was 4,613,989 tons with an average grade of 2.43 g/t, resulting in a total metal amount of approximately 106.93 tons[26]. - The total copper ore consumption in 2021 was 125,346 tons with an average grade of 1.42%, yielding a total metal amount of approximately 29.86 kt[27]. Technological Advancements - The company reported a commitment to technological advancement and management innovation to enhance its competitive advantages in gold production[8]. - The company implemented 42 technical innovation projects and applied for 87 patents, with 125 patents granted throughout the year[20]. - The company is recognized as a national high-tech enterprise, reflecting its commitment to innovation in the gold industry[8]. Corporate Governance - The company has a strong focus on internal audits, human resources, and management, with experienced personnel in key positions[54][55]. - The board of directors consists of 11 members, including 3 executive directors, 4 non-executive directors, and 4 independent non-executive directors[134]. - The independent non-executive directors account for 36% of the board, meeting the listing rules requirements[135]. - The company emphasizes the importance of corporate governance as a shared responsibility among directors, including policy formulation and compliance monitoring[162]. Social Responsibility - The company engaged in social responsibility initiatives, providing over RMB 6 million in donations and support for 110 households in poverty alleviation efforts[20]. - The company has maintained a good relationship with customers throughout the year, with no reported strikes or workplace accidents[75]. - The company respects the interests of employees, shareholders, government, and community, ensuring employee welfare and community benefits[177]. Future Outlook - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15% based on current market trends[48]. - The company will invest RMB 933 million in infrastructure and technological upgrades in 2022[43]. - A total of RMB 40 million is allocated for technological innovation projects, with 35 projects planned for the year[43]. - The company aims to add 26 tons of new gold resources and 1,000 tons of new copper resources through geological exploration investments of RMB 124 million in 2022[44]. Shareholder Information - The company has a total of 6,896 employees as of December 31, 2021, and invested RMB 2.7864 million in employee training during the year[77]. - The company has established an employee stock ownership plan to enhance corporate governance and retain talent[88]. - The major shareholders' interests in the company's issued share capital were disclosed, with specific percentages noted[83]. Risk Management - The company has committed to a risk management strategy to ensure stable development and safety in production[44]. - The company has established a framework for ongoing transactions with its controlling shareholder, ensuring compliance with regulatory requirements[100]. - The company has a board of directors consisting of four non-executive directors and four independent non-executive directors, accounting for approximately 72.73% of the total board members[141].
招金矿业(01818) - 2021 - 年度财报