TMD(SZ:000762)2021-04-20 16:00Financial Performance - The company's operating revenue for 2020 was ¥382,985,096.17, a decrease of 41.68% compared to ¥656,640,531.62 in 2019[24]. - The net profit attributable to shareholders for 2020 was -¥48,516,677.64, representing a decline of 157.46% from ¥84,434,175.11 in 2019[24]. - The net cash flow from operating activities was ¥58,958,458.08, down 40.54% from ¥99,159,808.16 in the previous year[24]. - Total assets at the end of 2020 were ¥2,723,615,043.59, a decrease of 4.89% from ¥2,863,561,158.82 at the end of 2019[27]. - The net assets attributable to shareholders decreased by 2.09% to ¥2,017,227,340.22 at the end of 2020 from ¥2,060,186,967.30 at the end of 2019[27]. - The basic earnings per share for 2020 was -¥0.0932, a decline of 157.50% compared to ¥0.1621 in 2019[24]. - The diluted earnings per share also stood at -¥0.0932, reflecting the same percentage decline as basic earnings per share[24]. - The weighted average return on net assets was -2.38% in 2020, down from 4.18% in 2019, indicating a significant drop in profitability[24]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of -¥55,025,907.85, which is an improvement of 38.24% compared to -¥89,091,525.24 in 2019[24]. - The total operating revenue for the year was approximately ¥383 million, with a quarterly breakdown of ¥56.77 million in Q1, ¥84.95 million in Q2, ¥117.22 million in Q3, and ¥124.04 million in Q4[30]. Production and Sales - In 2020, the company produced 66,554.10 tons of chromium ore, an increase of 9,778.97 tons or 17.22% year-on-year[48]. - The company sold 19,026.26 tons of self-produced chromium ore, a decrease of 6,165.06 tons or 24.47% year-on-year[48]. - The production volume of chromium increased to 113,414.11 tons, a 99.76% rise compared to 56,775.13 tons in 2019[66]. - The company reported a sales volume of 110,697.77 tons in 2020, a 74.29% increase from 63,515.01 tons in 2019[65]. Investments and Projects - The company plans to increase the production capacity of the Robsha South chromium ore mining project to 120,000 tons in 2021[49]. - The company is actively developing the geological environment protection and land reclamation project for the Robsha II mining area, with a total investment of 40.09 million yuan[49]. - The company has initiated the design work for the expansion project of the Robsha I and II mining areas, with an expected total investment of 70 million yuan[49]. - The total committed investment for the Zabuye Phase I technical transformation project is CNY 85.88 million, with 100% investment progress achieved[99]. - The total committed investment for the acquisition of the Robsha I and II mining rights is CNY 268.62 million, with 100% investment progress achieved[99]. Financial Management - The company reported a significant decrease in sales expenses, which fell by 71.76% to ¥4,392,352.77 in 2020, primarily due to the sale of subsidiaries in 2019[79]. - Research and development expenses increased to ¥1,256,485.10 in 2020, marking a 100% increase compared to the previous year, with a research investment rate of 0.33%[80]. - The company’s total cost of raw materials for chromium products was ¥107,839,029.58, accounting for 36.17% of the total operating costs in 2020, up from 30.31% in 2019[75]. - The company’s total procurement from the top five suppliers was ¥261,922,753.85, which accounted for 73.71% of the total annual procurement[79]. Environmental and Social Responsibility - Environmental protection expenditures amounted to CNY 18.112 million in 2020, contributing to the Robsha chromium mine being selected as a national green mine[52]. - The company achieved significant energy savings in 2020, including over 150 tons of raw coal, 3,850 liters of oil, and 1,530 tons of water[52]. - The company actively engaged in social responsibility initiatives, including poverty alleviation measures that benefited 108 individuals through job placements[178]. - A total of 120 skill training sessions were conducted, enhancing the employability of local laborers[178]. - The company implemented health assistance for 249 impoverished households, ensuring medical coverage and reducing out-of-pocket expenses[178]. Governance and Compliance - The company has committed to avoiding competition with Tibet Mining and will take necessary measures to prevent conflicts of interest[140]. - The company guarantees the independence of Tibet Mining's management and assets, ensuring no violations of fund or asset usage[137]. - The company has established an independent financial accounting system for Tibet Mining, ensuring separate bank accounts and financial decision-making[137]. - The company has committed to strictly adhering to legal regulations and company bylaws in exercising shareholder rights and avoiding conflicts during related transactions[140]. Future Outlook - The company aims to produce 130,000 tons of chromium ore and 7,000 tons of lithium concentrate in 2021, targeting a profit of 50 million yuan and revenue of 550 million yuan[117]. - The company plans to enhance its competitive edge by optimizing processes and expanding production capacity in its lithium and chromium business[117]. - The company is focused on building a smart supply chain for mineral resources and aims to become a leader in the comprehensive utilization of lithium and chromium resources[116].