2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 44,524,843,547.77, representing an increase of 11.55% year-over-year[2] - The net profit attributable to shareholders for Q1 2022 was CNY 1,792,062,256.48, a significant increase of 77.88% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,681,067,551.32, reflecting a substantial increase of 234.04% year-over-year[2] - Total revenue for Q1 2022 reached ¥44,524,843,547.77, an increase of 11.5% compared to ¥39,915,601,697.31 in Q1 2021[17] - Operating profit for Q1 2022 was ¥3,267,533,713.96, up from ¥1,888,282,122.57 in Q1 2021, representing a growth of 73.0%[17] - Net profit for Q1 2022 was ¥1,884,103,757.95, compared to ¥1,224,823,998.14 in Q1 2021, reflecting an increase of 54.0%[17] Assets and Liabilities - The company's total assets at the end of Q1 2022 amounted to CNY 166,579,325,103.43, which is a 21.19% increase from the end of the previous year[3] - Total assets increased to ¥166,579,325,103.43 in Q1 2022 from ¥137,449,772,623.15 in Q1 2021, marking a growth of 21.3%[15] - Total liabilities rose to ¥117,122,628,118.86 in Q1 2022, up from ¥89,185,560,286.08 in Q1 2021, an increase of 31.3%[15] Cash Flow - The net cash flow from operating activities was negative at CNY -1,098,206,574.81, a decrease of 142.73% year-over-year[2] - In Q1 2022, the company reported a net cash flow from operating activities of -1,098,206,574.81 CNY, a significant decline compared to 2,569,906,910.68 CNY in Q1 2021[19] - Cash inflow from operating activities was 43,418,550,574.63 CNY, up from 38,956,756,871.31 CNY in the same period last year, marking an increase of 11.9%[19] - Cash and cash equivalents at the end of Q1 2022 totaled 28,955,706,472.48 CNY, compared to 15,299,758,191.62 CNY at the end of Q1 2021, reflecting an increase of 89.5%[20] - The net increase in cash and cash equivalents for Q1 2022 was 8,563,015,628.79 CNY, compared to 3,850,807,753.37 CNY in Q1 2021, showing a growth of 122.3%[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 442,336[8] - The largest shareholder, Hongshang Industrial Holding Group Co., Ltd., held 24.69% of the shares[8] - The total equity attributable to shareholders increased to ¥40,980,537,412.92 in Q1 2022 from ¥39,845,286,626.30 in Q1 2021, a growth of 2.8%[15] Production and Sales - The company produced 62,434 tons of copper, a 25.66% increase compared to the same period last year, while sales volume reached 51,348 tons, up 10.16% year-on-year[10] - The sales volume of cobalt reached 5,918 tons, reflecting a significant year-on-year increase of 55.98%[10] - The company’s refined metal product sales volume was 771,270 tons, a decrease of 7.74% year-on-year[10] - In Q1 2022, the company achieved a record profit, driven by high market prices for major products and effective cost reduction measures, with niobium production increasing by nearly 30% year-on-year[11] Investments and Projects - The company reported a significant increase in investment income of 1,246.24% due to the production commencement of an associate company[7] - The company entered the nickel metal industry through equity participation, with the Huayue project in Indonesia showing strong performance in Q1 2022, becoming a new profit growth point[11] - The TFM mixed ore project is on track for completion and production in 2023, which will double the copper and cobalt production capacity in the Democratic Republic of the Congo compared to 2020 levels[11] - The company’s long-term equity investments increased to RMB 1.35 billion, compared to RMB 1.25 billion at the end of 2021[14] Expenses and Taxation - The company experienced a 61.09% increase in taxes and surcharges due to rising copper and cobalt market prices and increased sales[5] - The company paid 2,189,743,112.66 CNY in taxes during Q1 2022, a significant increase from 703,782,549.75 CNY in Q1 2021, representing a 211.5% rise[19] - Research and development expenses in Q1 2022 amounted to ¥131,492,178.37, significantly higher than ¥20,400,138.20 in Q1 2021, indicating a focus on innovation[17]