兴业银锡(000426) - 2022 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2022 was CNY 2,085,888,738.73, representing a 3.84% increase compared to CNY 2,008,804,402.32 in 2021[18]. - The net profit attributable to shareholders of the listed company decreased by 29.44% to CNY 173,900,470.00 from CNY 246,465,571.88 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 200,798,812.84, down 27.34% from CNY 276,352,582.23 in 2021[18]. - The net cash flow from operating activities increased by 12.89% to CNY 776,720,487.49, compared to CNY 688,043,714.49 in 2021[18]. - Basic earnings per share decreased by 29.43% to CNY 0.0947 from CNY 0.1342 in the previous year[18]. - The diluted earnings per share for 2022 was CNY 0.0947, a decrease of 29.43% compared to CNY 0.1342 in 2021[19]. - The weighted average return on equity was 3.19%, down from 4.69% in the previous year, reflecting a decline of 1.50%[19]. - Total assets increased by 6.30% to CNY 9,623,982,135.25 at the end of 2022, compared to CNY 9,053,627,782.98 at the end of 2021[19]. - Net assets attributable to shareholders rose by 3.47% to CNY 5,550,724,678.52 from CNY 5,364,742,471.13 in 2021[19]. - The total profit for 2022 was CNY 18,234,850, a decrease of 48.86% compared to the previous year, primarily due to provisions for bad debts and asset impairments totaling CNY 8,441,600[76]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.17 per 10 shares, based on a total of 1,837,192,219 shares[4]. - The total distributable profit for 2022 was CNY 297,078,111.11, with a cash dividend of CNY 31,232,267.72, representing 100% of the profit distribution[190]. - The cash dividend per 10 shares was CNY 0.17 (including tax), based on a total share capital of 1,837,192,219 shares[191]. - The company has established a stable and scientific return mechanism for investors, adhering to its profit distribution policy without any adjustments during the reporting period[189]. - The cash dividend totalled CNY 31,232,267.72, with a remaining undistributed profit balance of CNY 265,845,843.39 to be retained for the next year[191]. Operational Efficiency and Cost Management - The company has reported a significant increase in cash flow from operations, indicating improved liquidity and operational efficiency[18]. - The total operating costs for the mining sector were approximately ¥1.15 billion, an increase of 14.32% year-on-year[81]. - Labor costs in the mining sector increased to ¥333.13 million, accounting for 28.88% of total operating costs, up from 25.46% the previous year[87]. - The company has achieved an annual cost savings of CNY 154,200 through the implementation of deep hole blasting technology, significantly improving construction efficiency by nearly 4 times compared to traditional methods[98]. - The optimization of mining parameters has led to a reduction in ore loss and dilution, enhancing economic benefits and increasing the blasting volume per operation, thereby improving mining production capacity[98]. Market and Industry Outlook - The overall industry outlook for non-ferrous metals remains stable, with the company committed to improving its governance structure and internal controls to enhance profitability and risk resilience[140]. - The company is committed to expanding its overseas investment and international trade platform, focusing on acquiring foreign mineral resources, particularly gold mines[143]. - The company faces significant risks from market price fluctuations, particularly in the non-ferrous metals sector, which is highly cyclical and sensitive to international price changes[144]. - The company is focused on resource-based operations while expanding its global footprint and extending its industrial layout[141]. Research and Development - The company increased its R&D personnel to 139 in 2022, representing 13.63% of the workforce, a significant increase from 0 in 2021[111]. - R&D investment amounted to approximately CNY 75.34 million in 2022, accounting for 3.61% of operating revenue, compared to 0% in 2021[111]. - The company has established high-efficiency green mining R&D centers to accelerate technological advancements[74]. - The company is focusing on digital and intelligent mining solutions to address rising labor costs and energy consumption controls[102]. Risk Management - The company faces risks related to market price fluctuations, safety production, environmental protection, and policy changes[4]. - Safety production risks include natural disasters, equipment failures, and human errors that could lead to mining accidents[145]. - Environmental protection risks arise from waste emissions during mineral resource extraction, which could adversely affect the company's business outlook and financial performance[146]. - The company plans to enhance risk control awareness and conduct futures hedging to mitigate the impact of market price volatility on its performance[149]. Governance and Management - The company has a diverse management team with backgrounds in mining engineering, finance, and management, enhancing its operational capabilities[159][160]. - The current Chairman, Ji Xingye, has been in position since December 2011, indicating stability in leadership[159]. - The company is focused on maintaining a strong governance structure with independent directors overseeing operations[162]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 9.4629 million, with a standard total remuneration of CNY 7.8632 million[169]. Subsidiary Performance - Inner Mongolia Xingye Mining Co., Ltd. reported a net profit of -24.24 million CNY for its subsidiary Inner Mongolia Xingye Group Xilin, with a revenue of 143.02 million CNY, indicating a significant loss[137]. - The subsidiary Inner Mongolia Xingye Group Rongguan achieved a net profit of 181.52 million CNY with a revenue of 597.86 million CNY, reflecting strong performance in the non-ferrous metal selection business[137]. - The subsidiary Xilin Gol League Shuangyuan Nonferrous reported a net loss of -2.34 million CNY, with a revenue of only 9.58 million CNY, highlighting challenges in the non-ferrous metal smelting sector[137].