YCC(SZ:000878)2022-03-29 16:00Production and Sales Performance - In 2021, the company produced 1,347,300 tons of cathode copper, 18.12 tons of gold, and 675.62 tons of silver, all achieving historical highs[1]. - The total sales revenue reached 127.058 billion RMB, with a total profit of 1.655 billion RMB and a net profit attributable to shareholders of 649 million RMB, representing a year-on-year growth of 71%[1]. - The company's operating revenue for 2021 was CNY 127,057,754,575.88, representing a 43.99% increase compared to CNY 88,238,513,732.57 in 2020[39]. - The net profit attributable to shareholders for 2021 was CNY 649,151,500.63, a 71.00% increase from CNY 379,617,508.44 in 2020[39]. - The total production of cathode copper from consolidated subsidiaries was 134.73 thousand tons in 2021, a slight increase from 130.90 thousand tons in 2020[68]. - The company exported 932,000 tons of unrefined copper and copper products in 2021, marking a year-on-year increase of 25.2%[50]. - Sales volume of cathode copper increased by 3.57% to 1,574,438.85 tons, while production volume rose by 2.92% to 1,347,306 tons[78]. Financial Performance - The net cash flow from operating activities for 2021 was CNY 5,066,449,889.60, up 3.74% from CNY 4,883,826,932.78 in 2020[39]. - The basic earnings per share for 2021 was CNY 0.3819, a 71.03% increase from CNY 0.2233 in 2020[39]. - The total profit increased by 54.43% to ¥1,655,001,077.28, attributed to continuous lean management and improved efficiency[72]. - Revenue from sales of goods and services reached ¥138,004,458,844.12, a 39.99% increase due to rising copper prices[73]. - The company reported a significant increase in quarterly revenue, with Q4 2021 revenue reaching CNY 34,057,283,836.82[43]. - The company reported a total of ¥2,023,798,834.83 in fixed assets, with a portion used as collateral for loans[105]. Cost Management and Efficiency - The company's labor productivity in mining and smelting increased by 255.1 tons/person and 24.5 tons/person, respectively, while the total cost decreased by 248 RMB/ton and 864 RMB/ton year-on-year[2]. - The company reported a 44.89% increase in total operating costs, reaching CNY 125.20 billion, mainly due to rising raw material prices[71]. - The cost of raw materials accounted for 96.21% of total operating costs, reflecting a slight increase from 94.48% in the previous year[82]. - The gross margin for sulfuric acid improved significantly to 62.56%, up 121.50% year-on-year[76]. Research and Development - The company has established a technology center and increased investment in R&D to enhance its technological capabilities[2]. - Research and development expenses increased by 57.64% to CNY 247.23 million, reflecting a focus on technological advancements[71]. - The number of R&D projects organized in 2021 was 179, a year-on-year increase of 34.58%[96]. - R&D investment increased by 81.05% in 2021, totaling ¥1,531,150,930.26 compared to ¥845,705,085.60 in 2020[95]. Governance and Management - The company has established a robust governance structure and internal control system to strengthen management capabilities[61]. - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with legal regulations and effective decision-making processes[131]. - The company emphasizes investor relations, providing transparent communication through various channels, including performance briefings and investor interaction platforms[133]. - The company has implemented a three-year term and contractual management system for senior management starting from 2021, which includes basic salary, annual performance salary, and term incentives[160]. Environmental Commitment - The company is committed to ecological and environmental protection, aligning with national green development strategies[12]. - The company has installed online monitoring equipment for major discharge points, ensuring compliance with environmental regulations[196]. - The company has reported total emissions of 356.4 tons of particulate matter and 1061.9 tons of sulfur dioxide from various discharge points[197]. - The company is committed to continuous improvement in emission control technologies and compliance with environmental standards[198]. Strategic Goals and Future Plans - The company aims to enhance strategic determination and optimize asset structure as part of its "14th Five-Year Plan" implementation[4]. - The company plans to continue expanding its market presence and investing in new technologies to enhance competitiveness[70]. - The company aims to enhance value creation in 2022 by optimizing asset structure and improving profitability[122]. - The company is focusing on risk control and high standards in project construction as part of its strategic goals for 2022[122].