TNMG(SZ:000630)2023-04-14 16:00Financial Performance - The company's operating revenue for 2022 was ¥121.85 billion, a decrease of 7.01% compared to ¥131.03 billion in 2021[16]. - The net profit attributable to shareholders for 2022 was ¥2.73 billion, down 11.96% from ¥3.10 billion in 2021[16]. - The net cash flow from operating activities increased by 85.88% to ¥6.34 billion in 2022, compared to ¥3.41 billion in 2021[16]. - The total assets at the end of 2022 were ¥61.44 billion, reflecting a 20.84% increase from ¥50.84 billion at the end of 2021[16]. - The net assets attributable to shareholders increased by 16.84% to ¥25.36 billion at the end of 2022, up from ¥21.71 billion at the end of 2021[16]. - The basic earnings per share for 2022 were ¥0.26, a decrease of 10.34% from ¥0.29 in 2021[16]. - The company reported a quarterly revenue of ¥33.16 billion in Q4 2022, with a net profit of ¥869.58 million for the same quarter[18]. - Non-recurring gains and losses totaled ¥240.60 million in 2022, compared to ¥363.31 million in 2021[20]. - The weighted average return on equity for 2022 was 11.21%, down from 15.27% in 2021[16]. - The company's total revenue for 2022 was 121.845 billion yuan, a decrease of 7.01% year-on-year[24]. - The net profit attributable to shareholders for 2022 was 2.730 billion yuan, down 11.96% compared to the previous year[24]. Dividend and Profit Distribution - The company reported a profit distribution plan to distribute a cash dividend of 0.5 yuan (including tax) for every 10 shares based on a total of 10,526,533,308 shares[2]. - A cash dividend of 0.50 CNY per 10 shares was proposed, totaling 526,326,665.40 CNY, which represents 100% of the profit distribution[125]. - The company has a cash dividend policy stating that at least 10% of the distributable profits for the year will be distributed in cash, provided the company is profitable and has sufficient cash flow[123]. - The company plans to maintain a continuous and stable profit distribution policy, with cumulative cash distributions over three years not less than 30% of the average annual distributable profits[123]. Corporate Governance - The company emphasizes the importance of accurate and complete financial reporting, with all board members present for the meeting to review the report[2]. - The financial report is backed by signatures from the company's responsible personnel, ensuring accountability for the accuracy of the financial statements[4]. - The report outlines the company's governance structure, which is crucial for maintaining transparency and accountability in operations[3]. - The company has held 12 board meetings and 4 shareholder meetings to ensure compliance with governance standards[75]. - The company has received an "A" or "B" rating for information disclosure from the Shenzhen Stock Exchange for several consecutive years, demonstrating its commitment to transparency[77]. - The company has established independent financial management and accounting systems, complying with relevant accounting standards and regulations[78]. - The company has a well-defined organizational structure and governance framework, allowing for independent departmental operations[78]. Environmental and Social Responsibility - The company is committed to environmental and social responsibilities, as indicated in the report's sections dedicated to these topics[3]. - The company invested CNY 146 million in environmental protection and paid CNY 1.5861 million in environmental protection tax in 2022[67]. - The company has implemented environmental protection measures in compliance with various laws and regulations[136]. - The company achieved a total emission of COD at 24.3295 tons/year and ammonia nitrogen at 1.16491 tons/year, which are below the approved emission limits[140]. - The company has established a dual prevention mechanism for safety and environmental risks to ensure compliance with safety and environmental laws[69]. - The company is actively participating in social responsibility initiatives while maximizing shareholder value[76]. Research and Development - The company has established a technology research institute, indicating a focus on innovation and development in the nonferrous metals sector[6]. - The company’s R&D expenses increased by 218.28% to 588.83 million yuan, reflecting a focus on standardizing R&D innovation systems[33]. - R&D investment increased by 79.75% in 2022, totaling CNY 3,353,339,180, which represents 2.75% of operating revenue, up from 1.42% in 2021[45]. - The number of R&D personnel rose to 1,939 in 2022, a 3.25% increase from 1,878 in 2021, with a notable decrease in the proportion of R&D personnel to total employees from 15.87% to 14.96%[45]. - The company is focused on breaking foreign technology monopolies in the 5G industry by developing proprietary RTF3 electronic copper foil technology[44]. Market and Operational Strategy - The company is actively involved in various mining and processing operations, reflecting its significant role in the nonferrous metals industry[6]. - The company aims to enhance its production capacity for high-precision electronic copper foil to 80,000 tons annually after the completion of new projects[29]. - The company is focused on expanding its production capacity for lithium battery copper foil, targeting 15,000 tons in Chizhou and 10,000 tons in Tongling[68]. - The company is accelerating the acquisition and restructuring of the Mirador copper mine in Ecuador to enhance resource security[68]. - The company anticipates continued strong demand for copper driven by the growth of new energy vehicles and infrastructure investments, supported by national policies[64]. Financial Management and Investments - The company has implemented several financing strategies, including convertible bonds and non-public placements, to support its growth initiatives[11]. - The company has a maximum daily deposit limit of CNY 480,000,000 with its financial subsidiary, with a beginning balance of CNY 399,005,470[178]. - The company reported a total of CNY 40,703,385,810 in deposits during the period, with a withdrawal amount of CNY 40,664,081,150, resulting in an ending balance of CNY 438,310,130[178]. - The company is planning to issue shares and convertible bonds to acquire assets, aiming to enhance the independence and integrity of its operations[182]. Risk Management - The company has established a comprehensive risk control mechanism for its derivative investments, minimizing market and liquidity risks[55]. - The company has established risk control measures for financial derivatives trading, including strict control of hedging volumes to a certain percentage of annual copper concentrate production[56]. - The company is enhancing its risk management framework to mitigate market volatility and prevent bad debt losses[70]. Employee and Management Structure - The total number of employees in the company is 12,960, with 9,975 in production, 261 in sales, 1,257 in technology, 186 in finance, and 1,281 in administration[120]. - The company has established a training plan for middle management to enhance leadership and execution skills[122]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 675.68万元[110]. - The company has implemented a performance-based salary system, with a focus on monthly assessments and annual settlements[121]. Compliance and Internal Control - The internal control system was continuously improved, with no significant defects reported in financial and non-financial internal controls during the reporting period[131]. - The internal control audit report received a standard unqualified opinion[134]. - The company has no major deficiencies in its internal control system as of December 31, 2022[134].