2022-03-18 16:00Dividend and Financial Performance - The board proposed a cash dividend distribution plan for 2021, recommending a payout of 2 RMB per 10 shares (including tax), with no stock distribution or capital reserve conversion[7]. - Total revenue reached 225.1 billion yuan in 2021, a 31% increase from 171.5 billion yuan in 2020[34]. - The net profit attributable to shareholders rose to 15.7 billion yuan in 2021, marking a 141% increase compared to 6.5 billion yuan in 2020[34]. - The company reported a total sales revenue of 1,108.04 billion yuan from the top five customers, accounting for 49.22% of total annual sales[156]. - The company's market capitalization increased by 8.2% year-on-year, reaching 358.4 billion CNY by the end of 2021, with earnings per share rising by 140% to 0.60 CNY[65]. - The company achieved a significant increase in investment income, reaching ¥1.69 billion compared to a loss of ¥0.52 billion in the previous year[142]. - The company's total assets increased to 208.6 billion yuan in 2021, a 14% rise from 182.3 billion yuan in 2020[34]. - The company’s operating cash flow reached 26.1 billion yuan in 2021, an 83% increase from 14.3 billion yuan in 2020[34]. - The company reported a net impairment loss of 1,993 million yuan, significantly lower than the previous year's 22,649 million yuan[162]. Production and Resource Development - In 2021, Zijin Mining achieved significant growth with a comprehensive increase in metal production and prices, resulting in a "super expected" performance across key metrics[19]. - The company reported a strong production growth in copper, gold, and zinc, with copper production increasing from 45,000 tons in 2020 to 58,400 tons in 2021, representing a 29% increase[34]. - The company plans to produce 86,000 tons of copper and 60 tons of gold in 2022, with further increases expected by 2025[39]. - The company produced 1,205,499 tons of copper, a year-on-year increase of 17.14%, with mined copper at 584,165 tons (up 28.83%) and refined copper at 621,334 tons (up 7.94%)[78]. - The company’s total resource reserves as of December 31, 2021, include 6,277,050 tons of copper and 2,372.90 tons of gold[115]. - The company holds 2,032.83 million tons of copper reserves, representing 75.25% of China's total copper reserves[78]. - The company has a total of 763,000 tons of lithium resources (LCE equivalent) from the 3Q lithium salt lake project in Argentina, with a lithium ion concentration grade of 400 mg/L[108]. - The company has a total of 1,000,000 tons of gold reserves with a boundary grade of 0.15 grams per ton[122]. Strategic Goals and International Expansion - The company aims to become a leading global mining company with a focus on green and high-tech development, contributing to both domestic and international economies[14]. - Zijin Mining aims to enhance its global competitiveness by focusing on green, low-carbon, and high-tech development, with a strategic goal of becoming a "first-class international mining group" by 2030[21]. - The company is actively seeking strategic acquisitions of quality mid-to-large mining assets globally to bolster its resource reserves[22]. - The company has expanded its international presence, operating in 13 overseas countries with 21,695 employees, contributing 51% of its profits from overseas operations, with copper and gold resource contributions at 76% and 74% respectively[60]. - The company successfully completed the acquisition and construction of the world-class 3Q lithium project in Argentina, marking a key step into the new energy minerals sector[21]. Environmental and Sustainability Initiatives - The company plans to increase investments in clean energy sources such as photovoltaic, wind, and hydrogen energy, contributing to global carbon neutrality goals[22]. - The company’s clean energy projects have generated 13,655 million kWh of electricity, equivalent to planting 63,442 trees[109]. - The company has established a comprehensive digital and intelligent mining system, achieving 90% automation in the mineral processing system at Tibet Julong Copper Industry[173]. - The company emphasizes risk prevention and is optimistic about future demand for mineral products, driven by monetary expansion and supply concerns[22]. - The company has implemented measures to mitigate the impact of rising raw material costs, including increasing production and cost control[192]. Research and Development - The company’s research and development expenses rose by 32.30% to ¥770.66 million, compared to ¥582.51 million in 2020[142]. - The number of R&D personnel was 4,474, representing 10.25% of the total workforce, with 42 holding doctoral degrees and 420 holding master's degrees[167]. - The company established several new engineering and technology companies to enhance mining technology R&D and accelerate the development of new energy materials[169]. Market and Pricing Trends - The company reported a 24% increase in copper prices and a 27% increase in zinc prices during the reporting period, while gold prices saw a slight decline of 3%[68]. - The international copper price reached a historic high of $4.89 per pound, with refined copper demand increasing by 4.1% year-on-year[71]. - The average price of copper concentrate (excluding Kamoa) increased by 42.90%, while the average price of electrolytic copper rose by 44.19%[136]. Governance and Financial Management - The company has a well-structured governance system, enhancing decision-making efficiency and operational mechanisms[128]. - The company achieved a cash interest coverage ratio of 13.14, up from 8.25, indicating improved debt servicing capability[177]. - The company has a total bank credit line exceeding RMB 190 billion, indicating strong creditworthiness and ample financing channels[178].