YCC(SZ:000878)2023-04-16 16:00Financial Performance - In 2022, Yunnan Copper achieved a net profit of 1.809 billion RMB, representing a year-on-year increase of 178.63%[1]. - The company's operating revenue exceeded 100 billion RMB for the second consecutive year, reaching 134.915 billion RMB[6]. - Yunnan Copper's cash dividend distribution plan is to pay 4 RMB per 10 shares to all shareholders, based on a total of 2,003,628,310 shares[32]. - The company's operating revenue for 2022 was ¥134.92 billion, an increase of 6.18% compared to ¥127.06 billion in 2021[6]. - Net profit attributable to shareholders for 2022 reached ¥1.81 billion, a significant increase of 178.63% from ¥649.15 million in 2021[6]. - The net profit after deducting non-recurring gains and losses was ¥1.81 billion, up 394.96% from ¥365.93 million in 2021[6]. - The net cash flow from operating activities was ¥6.08 billion, representing a 19.93% increase from ¥5.07 billion in 2021[6]. - Basic earnings per share for 2022 were ¥1.0348, a 170.96% increase from ¥0.3819 in 2021[6]. - The weighted average return on equity was 17.61%, an increase of 10.17 percentage points from 7.44% in 2021[6]. - Total assets at the end of 2022 were ¥39.97 billion, a 2.15% increase from ¥39.12 billion at the end of 2021[6]. - The net assets attributable to shareholders increased by 42.71% to ¥13.21 billion from ¥9.26 billion in 2021[6]. - The total profit reached CNY 3.25 billion, up CNY 1.59 billion or 96.15% compared to the previous year[76]. - The operating cash flow was CNY 607.62 million, reflecting a year-on-year growth of 19.93%[76]. - The company reported a quarterly operating revenue of ¥36.86 billion in Q4 2022, contributing to a total annual revenue of ¥134.92 billion[50]. Production and Operations - Yunnan Copper's cathode copper production surpassed 1.3 million tons for three consecutive years, with a total production of 1.34915 million tons in 2022[6]. - The company has a copper production capacity of 1.3 million tons per year, with a focus on exploration, mining, smelting, and processing of precious and rare metals[59]. - The company produced 134.92 thousand tons of cathode copper in 2022, maintaining stable production levels[74]. - The sales volume of cathode copper increased by 8.61% to 1,710,032.61 tons in 2022, while production remained stable at 1,349,169 tons[86]. - The copper concentrate production was 62.6 thousand tons, a decrease from 75.7 thousand tons in 2021[73]. - The company has established a production control system named "52686" to enhance operational efficiency and safety in mining and smelting processes[60]. - The company has a complete industrial chain in copper and related non-ferrous metals, including smelting and comprehensive recycling[24]. Technological Innovation - The company has made significant progress in technology innovation, achieving breakthroughs in international patents and winning awards for its technological advancements[1][14]. - The company established a provincial engineering research center for low-grade mineral green intelligent mining, marking a significant advancement in technology innovation[70]. - The company filed 165 patent applications in 2022, achieving a record high, with 134 patents granted, including 16 invention patents[103]. - The number of technology projects increased by 28% year-on-year in 2022, reflecting the company's commitment to technological innovation[101]. Environmental and Sustainability Efforts - Yunnan Copper's environmental management efforts resulted in 100% compliance with major pollutant discharge standards in 2022[14]. - The company is actively pursuing national-level "green factory" recognition, reflecting its commitment to sustainable development[19]. - The company has been recognized as a national "energy efficiency leader" in key energy-consuming industries for multiple consecutive years from 2019 to 2022[25]. - The company has been recognized as a national-level energy efficiency "leader" in the copper smelting industry by the Ministry of Industry and Information Technology in 2022[27]. Corporate Governance - The company has actively improved its corporate governance practices in accordance with the Company Law and relevant regulations, ensuring no discrepancies exist[146]. - The company’s board of directors consists of 11 members, including 4 independent directors, ensuring compliance with relevant laws and regulations[147]. - The supervisory board, comprising 5 members, effectively oversees major company matters, financial status, and internal controls, adhering to the company's internal regulations[148]. - The company maintains an independent operational structure, ensuring no interference from the controlling shareholder in decision-making processes[148]. - The company has established a modern corporate governance structure, including a board of directors and supervisory board, ensuring transparency and effective decision-making processes[152]. Risk Management - The company emphasizes risk management, particularly in compliance, price fluctuations, and safety, to mitigate potential impacts on financial performance[141]. - The company recognizes the risks associated with price volatility of copper, gold, silver, and sulfuric acid, which are influenced by global economic conditions[143]. - The company acknowledges safety and environmental risks inherent in mining and smelting operations, which could lead to financial losses and legal liabilities[143]. Shareholder Engagement - The company conducted multiple investor relations activities, including a significant conference call on October 18, 2022, discussing the major production and operational performance for the first three quarters of 2022[144]. - The company reported on its non-public stock issuance progress during the investor calls held on May 12 and May 18, 2022, emphasizing its operational status and production conditions[144]. - The first extraordinary general meeting of 2022 had an investor participation rate of 40.52%[154]. - The second extraordinary general meeting of 2022 had an investor participation rate of 46.61%[154]. Employee Development - The total number of employees at the end of the reporting period was 9,041, including 1,825 at the parent company and 7,216 at major subsidiaries[186]. - A total of 2,646 training programs were conducted in 2022, with 168,900 participants and an investment of 12.3651 million yuan[191]. - The company has implemented a market-oriented salary distribution incentive mechanism, resulting in continuous annual growth in employee compensation[189]. Dividend Policy - The company reported a net profit of CNY 1,882,707,232.73 for the year 2022, with a distributable profit balance of CNY 1,859,189,751.80 at year-end[197]. - A cash dividend of CNY 4 per 10 shares (including tax) was proposed, totaling CNY 801,451,324, which represents 100% of the profit distribution amount[194][197]. - The company maintained a cash dividend payout ratio of at least 40% in accordance with its profit distribution policy[196].