SDR(SZ:000603)2023-04-28 16:00Financial Performance - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company has not disclosed specific financial performance metrics in the provided documents[3]. - The company's operating revenue for 2022 was ¥1,879,209,657.87, representing a 14.73% increase compared to ¥1,638,010,325.46 in 2021[21]. - The net profit attributable to shareholders for 2022 was ¥364,605,051.01, a decrease of 13.54% from ¥421,687,477.14 in 2021[21]. - The net cash flow from operating activities decreased by 40.28% to ¥493,668,786.26 in 2022, down from ¥826,669,503.30 in 2021[21]. - Basic earnings per share for 2022 were ¥0.53, down 13.11% from ¥0.61 in 2021[21]. - Total assets at the end of 2022 were ¥5,381,926,235.34, a 1.14% increase from ¥5,321,284,820.10 at the end of 2021[21]. - The net assets attributable to shareholders increased by 13.96% to ¥2,976,949,323.02 at the end of 2022, compared to ¥2,612,554,923.17 at the end of 2021[21]. - The company experienced a decline in the weighted average return on net assets, which was 13.05% in 2022, down from 17.56% in 2021[21]. - The company reported uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures when excluding non-recurring gains and losses[22]. Business Operations - The main business of the company is in the non-ferrous metal mining and selection industry, with potential risks outlined in the management discussion section[4]. - The company is focused on enhancing its market position in the non-ferrous metal mining sector, which is closely tied to macroeconomic trends and demand from key industries[34]. - The company controls six mining subsidiaries, with a silver reserve of nearly 10,000 tons and an annual mining capacity of approximately 2 million tons[36]. - The company’s subsidiary, Dongsheng Mining, has obtained a mining license with a production scale of 250,000 tons per year, currently preparing for mine construction[37]. - Jinshan Mining's project for extracting manganese sulfate has successfully completed the effective extraction and utilization of silver, manganese, and gold[37]. - The company’s urban mining subsidiary, Jinye Environmental Protection, has a hazardous waste disposal capacity of 200,000 tons per year and focuses on the resource utilization of secondary nickel[37]. - The company has integrated green mining practices across all four of its operational mines, aligning with national environmental goals[33]. Market Dynamics - The average price of silver in the international market was $21.73 per ounce in 2022, a decrease of 14.04% year-on-year, impacting the company's revenue from silver sales[32]. - The company reported a 3.32% year-on-year increase in global silver production, reaching 1,030.3 million ounces in 2022, which may influence market dynamics[32]. - The average price of nickel increased significantly by 44.1% in 2022, which could benefit the company's operations in the nickel segment[32]. Environmental and Sustainability Efforts - The company emphasizes sustainable development, with all operating mines achieving green certification and ongoing projects adhering to green mining standards[54]. - The company is committed to minimizing environmental pollution through measures such as dust suppression, reforestation, and noise reduction[184]. - The company has achieved recognition for its green mining practices, with four operating mines classified as national or regional green mines[184]. Governance and Management - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The management team has extensive experience in the mining sector, with recent leadership changes aimed at optimizing strategic planning[57]. - The board of directors consists of 8 members, including 3 independent directors, meeting the legal requirement of over 1/3 independence[126]. - The company has established a performance evaluation management system that links the compensation of senior management to individual performance, enhancing motivation and stability[127]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance, ensuring no reliance on the controlling shareholder for operations[130]. Strategic Plans and Future Outlook - The company aims to enhance the precision of production and management of existing mines and accelerate the acquisition of precious metal resources in 2023[164]. - The company plans to invest in new technologies and product development to enhance its competitive edge in the market[140]. - Future guidance indicates a cautious but optimistic outlook for revenue growth, contingent on market conditions and operational improvements[137]. - The company aims to leverage its existing resources and expertise to explore potential mergers and acquisitions to bolster its market position[140]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[4]. - The company is exposed to metal price volatility risks and will utilize financial derivatives to hedge against price fluctuations[116]. - The company will enhance safety production measures to mitigate risks associated with mining operations[117]. Employee and Community Engagement - The company emphasizes employee welfare, providing social insurance and training programs to enhance employee skills and motivation[183]. - The company actively participates in social welfare activities, aligning economic benefits with social responsibilities[185]. Financial Management - The company has established strict information disclosure management systems to ensure transparency and protect the rights of all investors[128]. - The company has implemented enhanced risk management and internal controls to improve operational efficiency and performance assessment[63]. - The company has a structured remuneration decision process involving the compensation and assessment committee of the board[148].