2019-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2019 was CNY 67.20 billion, representing a 34.90% increase compared to CNY 49.81 billion in the same period last year[14]. - The net profit attributable to shareholders of the listed company decreased by 26.64% to CNY 1.85 billion from CNY 2.53 billion year-on-year[14]. - The net cash flow from operating activities was CNY 4.41 billion, down 11.53% from CNY 4.98 billion in the previous year[14]. - The total assets at the end of the reporting period were CNY 116.58 billion, an increase of 3.28% from CNY 112.88 billion at the end of the previous year[14]. - The basic earnings per share decreased by 27.27% to CNY 0.08 from CNY 0.11 in the same period last year[15]. - The weighted average return on net assets was 5.29%, a decrease of 1.8 percentage points compared to 7.09% in the previous year[15]. - The company achieved a sales revenue of 67.198 billion RMB, a year-on-year increase of 34.90% compared to 49.814 billion RMB in the same period last year[25]. - The total profit for the first half of 2019 was RMB 3.04 billion, a decrease of 19.6% from RMB 3.78 billion in the same period of 2018[175]. - The company's comprehensive income for the first half of 2019 was RMB 3.28 billion, an increase of 37.3% compared to RMB 2.39 billion in the first half of 2018[176]. Production and Operations - The company produced 151,735 kg of gold, a year-on-year increase of 44.63% compared to 104,911 kg in the previous year[26]. - The copper production was 397,269 tons, representing a year-on-year increase of 17.81% from 337,212 tons[28]. - The company produced 226,180 tons of refined copper, a year-on-year increase of 3.83% from 217,846 tons in the same period last year[29]. - The company produced 295,377 tons of zinc, a year-on-year increase of 21.24% from 243,628 tons, primarily due to the new acquisition of the Bisha project[31]. - The company produced 250,609 kilograms of silver, a year-on-year decrease of 18.58% from 307,787 kilograms[33]. - The company produced 1.68 million tons of iron concentrate, a year-on-year increase of 32.28% from 1.27 million tons[35]. - The company achieved significant growth in overseas gold, copper, and zinc production, with copper production increasing by 156.42% year-on-year[38]. Financial Management - The company reported non-operating income of CNY 196.51 million, which includes government subsidies and other income[17]. - The company’s revenue from mainland China customers accounted for over 87.53% of total revenue, with 50.45% coming from the Shanghai Gold Exchange[53]. - The top five suppliers accounted for 30.28% of total purchases, while the top five customers contributed 60.37% of total sales revenue[54]. - The company’s investment income was RMB 57.95 million, a significant decrease from RMB 127.61 million in the same period of 2018[175]. - The company reported a financial expense of RMB 850.89 million, which increased from RMB 660.42 million in the first half of 2018[175]. - The company has paid interest on 83 billion RMB of medium-term notes, 10 billion RMB of short-term financing bonds, and 350 million USD of dollar bonds on time[166]. Environmental Responsibility - The company emphasizes safety and environmental protection, adhering to the principle of "safety first, prevention foremost" to mitigate risks[79]. - The company has established emergency response plans for environmental incidents, enhancing its management system and conducting regular drills[132]. - The company has implemented self-monitoring plans for environmental compliance across its subsidiaries, ensuring adherence to national regulations[133]. - The company has invested in pollution control facilities, ensuring stable operation and compliance with environmental standards[130]. - The company has no reported exceedances in emissions for the monitored pollutants during the reporting period[129]. - Total emissions of COD were 52.24 tons, with a concentration of less than 25 mg/L[116]. Strategic Initiatives - The company is advancing A-share public issuance, enhancing its capital operation capabilities[41]. - The company plans to enhance operational management and accelerate internationalization and informatization strategies[59]. - Cost control measures will be implemented to improve production efficiency and achieve annual operational targets[60]. - The company aims to optimize its financial structure through a public offering of A-shares[61]. - The company is committed to poverty alleviation efforts, focusing on precise poverty alleviation strategies and collaborating with local governments and social organizations[105]. Shareholder Information - The total number of common shareholders reached 693,997 by the end of the reporting period[146]. - The largest shareholder, Minxi Xinghang State-owned Assets Investment Management Co., holds 5,960,742,247 shares, representing 25.88% of total shares[147]. - The report indicates that BlackRock, Inc. holds 407,344,782 H shares, which is approximately 1.77% of the registered capital[150]. - The company has 289,389,067 shares under lock-up conditions, which will be tradable after June 7, 2020[149]. Risk Factors - The company faced risks related to market fluctuations and operational challenges, as noted in the risk disclosure section[6]. - The company faces metal price risks, as revenue and profit are significantly influenced by the prices of gold, copper, and zinc[79]. - The company is focused on international expansion, addressing potential risks in politically unstable regions through enhanced communication with local governments[79].