North Copper(SZ:000737)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 was approximately ¥4.54 billion, a decrease of 21.69% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was approximately ¥318 million, down 39.20% year-on-year[19]. - The net cash flow from operating activities was approximately ¥52.77 million, a significant decline of 95.61% compared to the previous year[19]. - Basic earnings per share decreased to ¥0.1794, down 39.19% from ¥0.2952 in the same period last year[19]. - Total revenue for the first half of 2023 was CNY 4,537,271,466.45, a decrease of 21.69% compared to CNY 5,793,671,363.43 in the same period last year[49]. - Revenue from cathode copper was CNY 3,785,190,410.36, accounting for 83.42% of total revenue, down 21.20% year-on-year[49]. - The gross profit margin for the non-ferrous metal smelting and rolling processing industry was 13.85%, a decrease of 2.62% compared to the previous year[50]. - The company reported a net loss from asset impairment of CNY 23,835,230.15, which accounted for -5.80% of total profit[52]. - The company reported a net profit of 334,509,060 CNY for the reporting period[68]. - The company reported a total comprehensive income of 310,700,809.7 CNY for the first half of 2023[172]. Assets and Liabilities - Total assets at the end of the reporting period increased by 8.05% to approximately ¥9.18 billion compared to the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 7.43% to approximately ¥4.63 billion[19]. - The company's total liabilities increased to CNY 9,174,000,000, with long-term borrowings accounting for 33.55% of total liabilities, up from 27.42% the previous year[53]. - The company's total equity as of June 30, 2023, was CNY 4,625,895,797.11, up from CNY 4,306,076,450.07, indicating a growth of about 7.4%[155]. - Total liabilities increased to CNY 4,550,097,266.19 as of June 30, 2023, up from CNY 4,186,122,737.95, which is an increase of about 8.7%[155]. Cash Flow - The company reported a net cash flow from operating activities of approximately ¥52.77 million, a significant decline of 95.61% compared to ¥1.20 billion in the previous year, driven by changes in product sales volume and prices[47]. - The company's cash and cash equivalents at the end of the reporting period were CNY 1,067,631,448.86, down 2.07% from CNY 1,164,099,822.29 at the end of the previous year[53]. - The company's cash flow from financing activities improved significantly, with a net inflow compared to a net outflow of -191,285,975.37 CNY in the previous year[170]. - The total cash inflow from investment activities was 48,900,000.00 CNY, while cash outflow was 60,741,000.00 CNY, resulting in a net cash flow of -11,841,000.00 CNY for investment activities[170]. Market and Production - In the first half of 2023, the average copper price fluctuated between 63,010 and 71,380 CNY/ton, while LME copper ranged from 7,867 to 9,550 USD/ton[27]. - Domestic electrolytic copper production for the first half of 2023 reached 6.3 million tons, a year-on-year increase of 12.5%[28]. - The actual consumption of electrolytic copper in China for the first half of 2023 was 7.0715 million tons, reflecting a year-on-year growth of 9.7%[29]. - The copper market is expected to remain stable with a projected increase in global copper mine output of around 1 million tons in 2023[28]. - The company is developing a project for an annual output of 50,000 tons of high-performance rolled copper foil and 2 million square meters of copper-clad laminates, which will enhance its product offerings in various high-tech fields[33]. Environmental Compliance - The company emphasizes environmental protection and has invested significantly in maintaining environmental facilities[71]. - The company has implemented strict internal controls and risk management measures for its hedging activities[61]. - The company reported a nitrogen oxide emission of 21.61 mg/m³, which is below the regulatory limit of 80 mg/m³[84]. - The company achieved a total pollutant discharge of 2.61 tons for nitrogen oxides, with no exceedances reported[84]. - The company has established a wastewater treatment system that recycles all production wastewater without discharge, ensuring environmental compliance[92]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The company is focusing on expanding its market presence and enhancing its product offerings through strategic procurement[114]. - The company is committed to sustainability initiatives, aiming to reduce its environmental impact while maintaining growth targets[115]. - The company plans to invest CNY 43.75 million in 7 environmental protection projects in 2023 to ensure stable compliance with pollutant discharge standards[97]. - The company has established a complete industrial chain encompassing exploration, mining, smelting, and sales, enhancing its competitive advantage in the market[40]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 41,453[139]. - The largest shareholder, Zhongtiaoshan Nonferrous Metals Group, holds 46.83% of the shares, totaling 829,972,894 shares[139]. - The company has a strategic investment relationship with several state-owned enterprises, including Zhongtiaoshan Group and Shanxi Coking Coal Yuncheng Salt Chemical Group[140]. - The total number of shares held by the top 10 unrestricted ordinary shareholders includes 1,046,184,545 shares[138]. - The company has not reported any changes in the shareholding of major shareholders during the reporting period[139].