SDR(SZ:000603)2021-08-22 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥550,663,738.33, representing an increase of 11.94% compared to ¥491,928,715.93 in the same period last year[23]. - Net profit attributable to shareholders was ¥113,642,348.01, a significant increase of 490.81% from ¥19,235,097.27 in the previous year[23]. - The net profit after deducting non-recurring gains and losses reached ¥105,500,788.06, compared to a loss of ¥35,328,106.93 in the same period last year, marking a 398.63% improvement[23]. - The net cash flow from operating activities was ¥138,264,988.89, a turnaround from a negative cash flow of ¥51,625,365.96 in the previous year, reflecting a 367.82% increase[23]. - Basic earnings per share rose to ¥0.1647, up 490.81% from ¥0.0279 in the same period last year[23]. - The company's operating revenue for the reporting period was ¥550,663,738.33, representing an increase of 11.94% compared to ¥491,928,715.93 in the same period last year, primarily due to a 157.90% increase in mining revenue[45]. - The operating cost decreased by 47.18% to ¥213,419,655.83 from ¥404,040,592.10, attributed to a shift in revenue structure towards higher-margin mining operations[45]. - The gross profit margin for the non-ferrous metal mining business increased to 68.25%, up 22.74% year-on-year, driven by rising metal prices and increased production volume[49]. - The company reported a substantial increase in income from lead concentrate (including silver), which reached ¥298,999,766.48, a 121.68% increase year-on-year[49]. - The company's tax expenses increased by 232.03% to ¥30,044,129.40, reflecting a rise in total profit[45]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,011,430,249.87, an increase of 7.94% from ¥4,642,922,619.29 at the end of the previous year[23]. - Net assets attributable to shareholders increased to ¥2,339,082,359.54, up 5.17% from ¥2,224,094,005.11 at the end of the previous year[23]. - Cash and cash equivalents decreased by 12.38% to ¥226,747,671.03, down from ¥784,773,037.11 at the end of the previous year[54]. - Long-term equity investments decreased by 4.17% to ¥160,362,592.96, down from ¥342,071,835.77, attributed to the consolidation of JinYe Environmental[54]. - Fixed assets increased by 3.00% to ¥1,317,370,920.42, up from ¥1,081,395,647.46, mainly due to the inclusion of JinYe Environmental in the consolidation scope[54]. - Total liabilities increased from CNY 2,018,744,099.09 at the end of 2020 to CNY 2,136,565,799.25, marking a rise of about 5.85%[166]. - The company's equity attributable to shareholders rose from CNY 2,224,094,005.11 at the end of 2020 to CNY 2,339,082,359.54, an increase of approximately 5.15%[169]. Investments and Acquisitions - The company is in the process of acquiring a 72.50% stake in Guizhou Dingshengxin, which holds a lead-zinc resource of 327.44 million tons with an average grade of 8.97%[33]. - The company completed the acquisition of 70% equity in Inner Mongolia Shengda Guangcai Metal Materials Co., Ltd. for a transfer price of 800.58 million yuan[101]. - The company acquired Hunan Jinye Environmental Technology Co., Ltd., which will help enter the new energy metal sector, enhancing operational performance[73]. - The company’s investment activities generated a net cash outflow of -¥705,833,403.75, a 347.65% increase in outflow compared to -¥157,675,177.12, primarily due to payments for the acquisition of a lead-zinc mine[45]. Market and Industry Conditions - The average price of silver in the first half of 2021 was 5,400 yuan/ton, a 34.83% increase compared to the same period last year[39]. - Zinc futures prices increased by 6.80% from 20,600 yuan/ton to 22,000 yuan/ton, while lead prices rose by 9.59% from 14,600 yuan/ton to 16,000 yuan/ton[39]. - The company expects continued high prices for non-ferrous metals in the second half of 2021, driven by the recovery of domestic industrial production[39]. - The company’s operational performance is closely linked to global economic conditions and the supply-demand dynamics of non-ferrous metals[39]. - The company faces cyclical risks in the industry, with strategies in place to adjust sales and acquisition strategies to mitigate performance volatility[74]. - The company is exposed to risks from fluctuations in non-ferrous metal prices, with measures to manage costs and maximize sales during high price periods[74]. Operational Efficiency and Technology - The company utilizes advanced mining and processing technologies, including priority flotation processes and automated control systems, to enhance production efficiency[35]. - The company operates six mining subsidiaries, with four currently in production and two under preparation, aiming for an annual production capacity of 250,000 tons from the Ba Yan Da Ba silver polymetallic mine[33]. Risk Management - The company maintains a risk reserve fund to ensure timely margin replenishment during hedging operations to avoid liquidity risks[69]. - The company has established internal control procedures for futures hedging, including approval processes and risk management measures[69]. - The company’s hedging strategy is designed to mitigate the operational risks associated with price fluctuations of its main products[69]. - Safety production risks are present due to the nature of the mining industry, prompting the company to enhance daily operational management and safety measures[76]. Shareholder and Equity Information - The company did not distribute cash dividends or issue bonus shares for the reporting period[83]. - The total number of shares after the change is 689,969,346, with 83.89% being unrestricted shares[130]. - Gansu Shengda Group holds 31.30% of the shares, totaling 215,939,596 shares, with 43,680,140 shares under lock-up[138]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period[142]. - The company is in compliance with the regulations regarding shareholder disclosures and has provided necessary information on shareholding changes[141]. Compliance and Governance - The semi-annual financial report was not audited[95]. - There were no major litigation or arbitration matters during the reporting period[99]. - The company did not engage in any significant related party transactions during the reporting period[100]. - The company has established an emergency response plan for environmental incidents and has no recorded administrative penalties for environmental issues[89].