Baiyin Nonferrous(601212)2023-06-26 16:00Financial Performance - The company's operating revenue for 2022 was CNY 87.84 billion, an increase of 21.52% compared to CNY 72.28 billion in 2021[19]. - The net profit attributable to shareholders of the listed company decreased by 59.25% to CNY 33.31 million from CNY 81.74 million in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 13.79 million, down 36.63% from CNY 21.77 million in 2021[20]. - The net cash flow from operating activities increased by 13.94% to CNY 1.69 billion compared to CNY 1.48 billion in 2021[20]. - The total assets at the end of 2022 were CNY 46.66 billion, a slight increase of 2.22% from CNY 45.65 billion at the end of 2021[20]. - The net assets attributable to shareholders of the listed company increased by 6.80% to CNY 15.20 billion from CNY 14.23 billion in 2021[20]. - Basic earnings per share decreased by 63.64% to CNY 0.004 in 2022 compared to CNY 0.011 in 2021[21]. - The weighted average return on equity dropped to 0.23% in 2022 from 0.53% in 2021, a decline of 0.3 percentage points[21]. Production and Operations - The company produced a total of 236,700 tons of metal concentrate in 2022, a decrease of 2.19% compared to the previous year[30]. - The total output of copper, lead, and zinc metal products increased by 13.12% to 645,000 tons in 2022[30]. - In 2022, the company produced 250,400 tons of cathode copper, an increase of 64,400 tons or 34.6% year-on-year[31]. - The production of gold reached 9,324 kg, up by 1,614 kg or 20.94% compared to the previous year[31]. - The company reported a significant increase in molybdenum concentrate production due to rising market prices, with an increase of 29.68%[30]. Research and Development - The company initiated 209 key technology research and development projects in 2022, with a completion rate of 83.2% for 144 projects[33]. - The company applied for 278 patents in 2022, a year-on-year increase of 28.1%, and received 162 patents, up by 8.0%[34]. - Research and development expenses increased by 35.13% to ¥84.74 million, reflecting the company's commitment to innovation[71]. Market and Economic Conditions - The global economic growth in 2022 was approximately 3.4%, with expectations to decline to 2.9% in 2023 according to the IMF[42]. - The domestic GDP exceeded 121 trillion yuan in 2022, growing by 3% year-on-year[43]. - The average price of LME-3M copper was $8,790.2 per ton, a decrease of 5.42% compared to 2021[46]. - The average price of LME-3M zinc in 2022 was $3,444.8 per ton, an increase of 14.53% compared to 2021[46]. - The average price of COMEX gold in 2022 was $1,806.6 per ounce, an increase of 0.38% compared to 2021[47]. Environmental and Social Responsibility - The company invested 115.43 million yuan in environmental protection during the reporting period[188]. - The company paid 2.63 million yuan in environmental taxes in 2022[188]. - The company has focused on improving its ecological environment quality and has strengthened pollution control measures[189]. - The company has achieved compliance in hazardous waste management, with some hazardous waste being self-utilized or disposed of by qualified enterprises[198]. Governance and Management - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report[5]. - The company has established a management system for insider information and strictly adheres to confidentiality and reporting protocols[131]. - The total remuneration for all directors, supervisors, and senior management was 8.8148 million yuan[153]. - The company has appointed new independent directors and supervisors, enhancing governance and oversight[136]. Future Outlook and Strategy - In 2023, the company aims to achieve a production and sales volume of 680,000 tons of copper, lead, and zinc, with a projected revenue of 90 billion RMB and a total profit of 1.148 billion RMB[114]. - The company plans to implement a "five-fold increase" strategy during the 14th Five-Year Plan, targeting significant growth in industrial output, revenue, operational efficiency, comprehensive mining capacity, and employee income[113]. - The company is focusing on developing strategic emerging industries, including high-purity and high-performance new materials, with projects like lithium battery copper foil and special cables underway[115].