2022-04-11 12:33Financial Performance - Total revenue for Q1 2022 reached RMB 64.77 billion, an increase of 36.35% year-on-year[4] - Total profit for the period was RMB 8.91 billion, reflecting a significant growth of 104.81% compared to the same period last year[4] - Net profit amounted to RMB 7.42 billion, representing a year-on-year increase of 117.03%[4] - Net profit attributable to shareholders was RMB 6.12 billion, up 143.88% year-on-year[4] - Basic earnings per share increased by 135.35% to RMB 0.233[5] - Diluted earnings per share rose by 145.26% to RMB 0.233[5] - Operating profit for Q1 2022 was ¥8.98 billion, up 102.5% from ¥4.46 billion in Q1 2021[26] - Net profit for Q1 2022 was ¥7.42 billion, representing a 117.5% increase compared to ¥3.42 billion in Q1 2021[27] - Basic earnings per share for Q1 2022 were ¥0.233, compared to ¥0.099 in Q1 2021, reflecting a 135.4% increase[27] - The total comprehensive income for Q1 2022 was ¥8.72 billion, compared to ¥2.84 billion in Q1 2021, marking a 206.5% increase[27] Production and Sales - The company attributed revenue growth to increased production and sales of major products, along with rising metal prices[8] - Gold production increased by 17% year-on-year, while copper production surged by 53% and zinc production rose by 12%[14] - The gross profit margin for mining enterprises was 61.12%, up by 3.87 percentage points year-on-year, while the overall gross profit margin improved to 17.32%, an increase of 2.36 percentage points[14] Assets and Liabilities - Total assets at the end of the reporting period were RMB 233.57 billion, an increase of 11.98% from the end of the previous year[5] - As of March 31, 2022, the company's cash and cash equivalents increased to ¥23.30 billion from ¥14.22 billion as of December 31, 2021, representing a growth of approximately 63.5%[22] - Total current assets reached ¥61.81 billion, compared to ¥47.06 billion at the end of 2021, reflecting a growth of approximately 31.4%[22] - Total liabilities increased to ¥132.10 billion from ¥115.70 billion, representing a rise of about 14.1%[24] - The company's total assets reached ¥233.57 billion, compared to ¥208.59 billion, reflecting an increase of approximately 12.0%[24] - The total equity attributable to shareholders increased to ¥78.53 billion from ¥71.03 billion, indicating a growth of approximately 10.6%[24] Cash Flow - Cash flow from operating activities was RMB 7.43 billion, up 41.53% year-on-year[4] - Cash flow from operating activities for Q1 2022 was ¥7.43 billion, an increase of 41.4% from ¥5.25 billion in Q1 2021[28] - The net cash flow from investing activities was -12,217,669,025 RMB, compared to -5,199,469,124 RMB in the previous year, indicating a significant increase in cash outflows[29] - The net cash flow from financing activities was 13,718,508,962 RMB, significantly higher than 3,351,166,428 RMB from the previous year, showing a strong financing position[29] Project Developments - The company commenced construction of its first lithium project in Argentina, aiming for an annual production of 20,000 tons of battery-grade lithium carbonate by the end of 2023[19] - The second phase of the Kamoa-Kakula copper mine is expected to process 3.8 million tons of ore annually, with production exceeding 450,000 tons of copper, making it the fourth largest copper mine globally[19] - The company is advancing multiple key projects, including the Pegg copper-gold mine and the Binduli North low-grade ore project, both expected to commence production in 2022[20] - The company is planning to expand its mining operations with the second phase of the Julong Copper Mine project and the new construction of a 6,000 tons/day intelligent mining project in Shanxi, expected to add 3-4 tons of gold annually upon completion[21] Challenges and Resilience - The company successfully navigated external challenges such as the COVID-19 pandemic and geopolitical conflicts, achieving a strong start to the year[13]