Resource and Production - As of December 31, 2021, the total resource amount for the four nickel-copper mines is estimated at 95,297,324 tons, with a total metal content of 481,838 tons of copper and 472,917 tons of nickel[27]. - The estimated reserves for the four nickel-copper mines as of December 31, 2021, are 46,577,131 tons, containing 284,401 tons of copper and 259,660 tons of nickel[27]. - The estimated resource amount for the two vanadium mines is 26,569,500 tons, with a total of 242,315 tons of V2O5[28]. - The company produced 12,103 tons of electrolytic nickel in 2021, a 2.40% increase from 2020[39]. - The production of cathode copper reached 11,031 tons, which is a 0.27% increase from the previous year[39]. - In 2021, the company produced a total of 1,000,120 tons of ore from the Kalatongke mine and 1,471,931 tons from Xinjiang Yakes and Hami Jubao[43]. Financial Performance - In 2021, the company achieved operating revenue of RMB 2,382.4 million, an increase of 28.51% compared to 2020[40]. - The net profit for 2021 was RMB 514.3 million, up from RMB 179.2 million in 2020, marking a significant improvement[40]. - The comprehensive profit attributable to shareholders was RMB 515.6 million in 2021, compared to RMB 151.8 million in 2020[40]. - The total revenue from the main business in 2021 was RMB 2,301.1 million, with sales of electrolytic nickel contributing RMB 1,367.4 million (59.4% of total revenue) and cathode copper contributing RMB 674.6 million (29.3% of total revenue)[44]. - The gross profit margin improved to 38.23% in 2021, up from 23.58% in 2020[40]. - The net cash inflow from operating activities was RMB 683.0 million in 2021, an increase of RMB 330.7 million from RMB 352.3 million in 2020[68]. Market and Sales - The average sales price of electrolytic nickel in 2021 was RMB 124,957 per ton, a 17.73% increase from 2020[40]. - The average sales price of cathode copper rose to RMB 61,041 per ton, reflecting a 47.24% increase compared to the previous year[40]. - The company sold 10,943 tons of electrolytic nickel in 2021, a decrease of 3.37% compared to 2020[40]. - The company plans to produce 9,500 tons of electrolytic nickel in 2022, a decrease of 19.5% compared to 2021, and 9,228 tons of cathode copper, a decrease of 18.2%[49]. Investments and Future Plans - The company invested approximately RMB 100.3 million in 2021 to enhance the Kalatongke mining operations, including a daily mining capacity of 3,400 tons and a daily selection capacity of 3,000 tons[46]. - In 2022, the company plans to invest RMB 175.9 million to further improve the Kalatongke mining operations and optimize processes[52]. - The company plans to invest RMB 19.1 million in 2022 for geological exploration and resource control, focusing on existing major mining areas[53]. - The company expects the domestic non-ferrous metal market to continue growing in 2022, driven by an anticipated GDP growth of approximately 5.5% in China[48]. Governance and Management - The company has established a strategic committee for ESG initiatives[22]. - The board consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors[112]. - The company has maintained compliance with the corporate governance code throughout the fiscal year 2021[109]. - The board is responsible for overall leadership and governance, including deciding on the company's operational plans and investment proposals[110]. - The company has adopted a diversity policy for the board, considering factors such as gender, age, and professional experience in director appointments[113]. Environmental, Social, and Governance (ESG) - The company is focused on sustainable development and has established a governance structure for Environmental, Social, and Governance (ESG) that includes a Board and an ESG Working Group to oversee and manage ESG-related risks[176]. - The company has identified key ESG issues through stakeholder feedback and surveys, focusing on areas such as emissions management, resource usage, and employee practices[190]. - The company has set effective management policies and internal control systems for ESG issues, ensuring compliance with ESG reporting guidelines[190]. - The company aims to improve ESG performance and create greater value for the community through collaboration with stakeholders[188]. - The company emitted approximately 481,600 tons of mining waste rock, 2,137,100 tons of tailings, 313,000 tons of smelting water quenching slag, 80.76 tons of waste gas, and 384.03 tons of greenhouse gases in 2021[194]. Risk Management - The company has established a risk management and internal control system to safeguard assets and ensure compliance with relevant laws and regulations[163]. - The board of directors conducted two reviews of the risk management and internal control systems during the year, covering the periods up to December 31, 2020, and June 30, 2021[164]. - The company faces commodity price risks due to fluctuations in international and domestic market prices, which could significantly impact revenue and overall earnings[71].
新疆新鑫矿业(03833) - 2021 - 年度财报