2021-04-27 16:00Financial Performance - The company achieved operating revenue of RMB 39.915 billion in Q1 2021, a year-on-year increase of 78%[2] - EBITDA for the quarter was RMB 3.306 billion, reflecting a year-on-year growth of 124%[2] - Net profit attributable to shareholders reached RMB 1.007 billion, up 125% year-on-year, marking the best quarterly performance since 2019[2] - The company reported a significant increase in operating revenue, reaching RMB 39.92 billion for Q1 2021, a 78.33% increase compared to RMB 22.38 billion in Q1 2020[13] - Net profit for Q1 2021 was ¥1.22 billion, compared to ¥420.39 million in Q1 2020, indicating a substantial increase of 190.5%[22] - The total operating costs for Q1 2021 were ¥36.60 billion, an increase from ¥24.55 billion in Q1 2020, marking a rise of 49.2%[21] - The earnings per share for Q1 2021 was ¥0.047, compared to ¥0.021 in Q1 2020, reflecting a growth of 123.8%[22] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of RMB 2.570 billion, a decrease of 56.35% year-on-year[7] - The net cash flow from operating activities decreased by 56.35% to RMB 2.57 billion in Q1 2021, down from RMB 5.89 billion in Q1 2020[14] - Cash inflow from operating activities totaled ¥38,956,756,871.31, up 55.2% from ¥25,096,858,208.87 in the previous year[26] - The company reported a net cash outflow from investment activities of ¥4,419,778,719.54, an improvement from a net outflow of ¥7,074,523,037.94 in the same period last year[27] - Cash inflow from financing activities increased significantly to ¥34,703,458,208.21, compared to ¥15,896,945,908.71 in Q1 2020, marking a growth of 118.5%[27] - The total cash and cash equivalents at the end of Q1 2021 stood at ¥15,299,758,191.62, down from ¥16,811,394,142.77 at the end of Q1 2020[27] Assets and Liabilities - The total assets at the end of the reporting period were RMB 132.339 billion, an increase of 8.08% from the previous year[7] - The company’s total assets as of March 31, 2021, showed a significant increase, reflecting improved liquidity and operational cash flow[11] - Total liabilities reached RMB 84.96 billion, compared to RMB 75.11 billion, marking an increase of around 13.1%[18] - Short-term borrowings rose significantly to RMB 28.93 billion from RMB 20.46 billion, a rise of approximately 41.7%[18] - The company’s financial liabilities increased by 88.14% to RMB 8.07 billion, primarily due to increased payables in gold leasing and basic metal trading[12] - The company's equity attributable to shareholders decreased slightly to RMB 38.66 billion from RMB 38.89 billion, a decline of about 0.6%[18] Production and Operations - Production volumes for copper and diamonds in Congo were 49,687 tons and 3,300 tons respectively, meeting expectations[2] - The company’s sales volume of copper (TFM) increased by 19.10% to 49,687 tons in Q1 2021, while the sales volume of cobalt decreased by 28.87% to 3,300 tons[16] - The company achieved cost reduction and efficiency improvement of RMB 175 million in Q1 2021, with significant contributions from the Congo segment[3] Tax and Expenses - The company’s effective tax rate increased significantly, with income tax expenses rising by 333.83% to RMB 663.45 million, driven by higher profits in the copper and cobalt business[13] - Research and development expenses for Q1 2021 were ¥20.40 million, up from ¥19.26 million in Q1 2020, showing a growth of 6.0%[21] - The company reported a significant loss in fair value changes amounting to ¥1.44 billion in Q1 2021, compared to a gain of ¥2.19 billion in Q1 2020[22] - The company’s financial expenses decreased to ¥239.84 million in Q1 2021 from ¥367.27 million in Q1 2020, a reduction of 34.7%[21] Market Strategy - The company plans to expand its market presence and enhance its product offerings in response to rising demand in the metals sector[16]