JINHUIINC.(SH:603132)2023-03-27 16:00Financial Performance - The net profit attributable to the shareholders of the parent company for 2022 was RMB 469,943,790.22, with a cash distribution of RMB 524,208,000.00, representing 111.55% of the net profit[13]. - The company's operating revenue for 2022 was CNY 1,239,473,546.55, a decrease of 1.04% compared to 2021[39]. - The net profit attributable to shareholders for 2022 was CNY 469,943,790.22, an increase of 1.52% year-on-year[39]. - The net cash flow from operating activities decreased by 14.44% to CNY 648,162,279.52 in 2022[39]. - The company distributed cash dividends totaling CNY 52,420.80 million, accounting for 111.55% of the net profit attributable to shareholders for 2022[61]. - The company's sales expenses decreased by 24.91% to CNY 852,050.99 from CNY 1,134,775.65 in the same period last year[147]. - Management expenses slightly decreased by 1.15% to CNY 140,560,879.20 compared to CNY 142,198,689.78 in the previous year[147]. - Research and development expenses decreased by 0.46% to CNY 42,806,127.96 from CNY 43,003,700.31 year-on-year[147]. - Financial expenses saw a significant reduction of 49.24%, dropping to CNY 59,458,503.37 from CNY 117,132,962.79[147]. Revenue and Profit Distribution - In Q1 2022, the company reported revenue of RMB 280,679,861.10, with a net profit of RMB 111,642,920.34; in Q2, revenue was RMB 348,894,226.77 with a net profit of RMB 129,060,955.18; in Q3, revenue was RMB 242,860,971.45 with a net profit of RMB 66,253,197.23; and in Q4, revenue reached RMB 367,038,487.23 with a net profit of RMB 162,986,717.47[30]. - The company has a profit distribution policy that mandates a minimum of 30% of distributable net profit to be distributed as cash dividends when conditions allow[156]. - The company distributed a cash dividend of 0.184 RMB per share, totaling 179.95 million RMB (including tax) based on a total share capital of 97.8 million shares[183]. - The total cash dividend amount was 524.21 million RMB (including tax), which represents 111.55% of the net profit attributable to ordinary shareholders in the consolidated financial statements[200]. Assets and Liabilities - The total assets at the end of 2022 were CNY 5,045,383,172.06, an increase of 8.58% from the previous year[39]. - The company's total assets and net assets significantly increased, with the debt-to-asset ratio decreasing from 51.81% at the end of 2021 to 37.31% at the end of 2022[75]. - Interest-bearing liabilities reduced from 1.897 billion RMB at the end of 2021 to 1.299 billion RMB at the end of 2022, leading to a decrease in interest expenses from 120.29 million RMB to 75.03 million RMB[75]. - Cash and cash equivalents increased by 52.99% to CNY 415,281,684.76, up from CNY 271,443,441.57 in the previous year, primarily due to funds raised from stock issuance[150]. - Inventory increased by 21.21% to CNY 52,611,359.64 from CNY 43,403,557.05 year-on-year[150]. - The company pledged mining rights valued at CNY 761,142,980.50 to secure bank loans[151]. Operational Efficiency and Investments - The company’s cash flow from operating activities for Q1 was RMB 137,947,837.19, Q2 was RMB 215,335,593.49, Q3 was RMB 83,134,360.55, and Q4 was RMB 211,744,488.29[30]. - The company invested CNY 8,714.15 million in safety measures in 2022, an increase of 11.02% year-on-year[64]. - Environmental investment reached CNY 4,263.92 million in 2022, a 92.53% increase compared to the previous year[65]. - The company is committed to building a digital intelligent mining operation to enhance efficiency and sustainability[78]. - The company has a well-established management mechanism for green mining, ensuring compliance and efficiency in operations[97]. - The comprehensive utilization rate of resources is at an advanced level domestically, with a focus on sustainable development practices[107]. Resource Management and Exploration - The company completed the exploration of the mineable resources in the Guojiaogou lead-zinc mining area, with a total ore reserve of 58,368,000 tons[51]. - The company has identified zinc resources of 2.1512 million tons and lead resources of 637,700 tons at Guojiaogou Mine, showcasing significant resource endowment advantages[94]. - The company acquired 85% of Xiejiaogou Mining for 155 million RMB, enhancing resource reserves with 2.3654 million tons of ore, including 82,900 tons of zinc and 37,500 tons of lead[77]. - The production capacity of Xiejiaogou Mining is 180,000 tons per year, with a sustainable mining period exceeding 10 years[77]. - The company has three exploration rights with favorable geological conditions, aiming to increase available resource reserves through increased exploration investment[109]. - The company conducted 15 independent R&D projects, including studies on blasting technology and resource-efficient production techniques[171]. Corporate Governance and Management - The company has committed to ensuring the accuracy and completeness of its financial reports, with no significant omissions or misleading statements[8]. - The company’s board of directors and management have confirmed the integrity of the annual report, taking full responsibility for its content[8]. - The company has been actively involved in the audit committee's work, ensuring compliance with legal regulations and internal policies[143]. - The company has a diverse management team with extensive experience in various sectors, enhancing its operational capabilities[135]. - The company appointed Wang Yang as the new Deputy General Manager and Secretary of the Board on December 12, 2022[137]. - The company held its first board meeting on January 13, 2022, where it approved the 2021 annual financial report and 2022 budget[139]. - The company conducted five proposals during the board meeting on March 25, 2022, including the use of raised funds for project replacement[143]. - The company reported a total of 10 board meetings held in 2022, focusing on financial decisions and operational strategies[139]. Market Position and Future Outlook - The company continues to explore opportunities for market expansion and potential mergers and acquisitions to enhance its competitive position[12]. - The company is actively monitoring risks associated with future developments and market conditions, emphasizing the importance of risk management strategies[15]. - The company plans to further integrate and develop non-ferrous metal resources to strengthen its core business and contribute to regional economic development[77]. - The company is focused on improving its financial performance and strategic planning for future growth[139].