HBIS Resources (SZ:000923)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was CNY 6,566,962,235.83, representing a 10.64% increase compared to CNY 5,935,194,422.99 in 2020[27]. - The net profit attributable to shareholders of the listed company reached CNY 1,301,329,303.50, a 34.00% increase from CNY 971,146,851.56 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,298,882,233.33, up 33.80% from CNY 970,785,323.54 in 2020[27]. - The net cash flow from operating activities was CNY 2,877,447,938.92, reflecting a 19.27% increase from CNY 2,412,645,306.84 in the previous year[27]. - Basic earnings per share for 2021 were CNY 1.9937, a 34.00% increase compared to CNY 1.4878 in 2020[27]. - The diluted earnings per share also stood at CNY 1.9937, marking a 34.00% increase from CNY 1.4878 in the previous year[27]. - The weighted average return on equity was 16.85%, an increase of 3.57% from 13.28% in 2020[27]. - The total profit for the year was 2.81 billion RMB, reflecting a year-on-year increase of 33.52%[65]. - Net profit reached 2.02 billion RMB, up 34.23% from the previous year[65]. Revenue and Sales - The company achieved a total revenue of 6.57 billion RMB, an increase of 10.64% compared to the previous year[65]. - The company produced 9.49 million tons of magnetite, a 28% increase year-on-year[65]. - Copper product sales amounted to 23,400 tons, representing a 32% increase compared to the previous year[65]. - The company’s magnetite sales reached 8.58 million tons, a 16% increase year-on-year[65]. - The company's physical sales revenue exceeded service revenue, with a sales volume of 8,761.86 thousand tons in 2021, up 15.50% from 2020[70]. - Copper product sales volume reached 23.44 thousand tons in 2021, a 32.42% increase from 17.7 thousand tons in 2020[70]. Assets and Investments - Total assets at the end of 2021 reached ¥13,980,910,079.39, an increase of 4.12% compared to the adjusted total assets of ¥13,428,301,059.25 at the end of 2020[30]. - Net assets attributable to shareholders of the listed company amounted to ¥8,045,480,771.78, reflecting an 8.36% increase from the adjusted net assets of ¥7,424,882,165.10 at the end of 2020[30]. - The total investment amount for the reporting period was ¥548,017,928.70, a decrease of 8.00% compared to ¥595,660,473.87 in the previous year[94]. - The company has a total of ¥1,515,355.42 in restricted cash due to usage limitations[93]. - The fair value change of financial assets for the period was ¥91,219,220.43, with a cumulative fair value change of ¥60,229.17 included in equity[90]. Operational Highlights - The company operates in the solid mineral resources industry, focusing on the extraction, processing, and sales of copper, iron ore, and vermiculite[53]. - The company’s main profit source remains the sales of high-grade iron ore products[56]. - The company has not engaged in new exploration activities or related expenditures during the reporting period[59]. - The company has established a strong supply relationship with downstream customers in North America, Europe, and Asia for vermiculite exports[60]. - The company has completed 75.00% of the copper mine phase II construction project, with an investment of ¥5.48 million during the reporting period[94]. Governance and Management - The company has established a complete production and sales system, ensuring independent operations in business, personnel, assets, and finance[166]. - The company has revised 14 governance-related systems to strengthen internal control and compliance during the reporting period[165]. - The company’s governance structure complies with the requirements set by the China Securities Regulatory Commission[165]. - The company has an independent accounting department and a complete financial management system[166]. - The company reported a significant leadership change with the resignation of Chairman Liu Jian due to work adjustments, effective November 12, 2021[178]. - New appointments were made, including Zhao Lishu as General Manager and Wang Yaobin as Chairman, effective September 14, 2021[181]. - The company is focusing on expanding its market presence and enhancing its governance structure through these leadership changes[181]. Compensation and Financial Responsibility - Total pre-tax compensation for executives amounted to CNY 472.02 million during the reporting period[198]. - The highest individual compensation was CNY 187.72 million for a departing director[198]. - The company has a structured compensation system based on annual economic responsibility agreements and performance assessments[196]. - Independent directors received an annual allowance of CNY 10 million each[198]. - The financial officer received a compensation of CNY 22.07 million during the reporting period[198]. Future Outlook and Strategy - For 2022, the company aims to produce 7.2 million tons of high-grade magnetite, 180,000 tons of vermiculite, and 6 million tons of copper ore[151]. - The company plans to enhance compliance governance and risk management to improve operational capabilities and market image[152]. - The copper phase II project is considered crucial for the company's long-term strategy, aiming to mitigate price cycle risks associated with single mineral types[152]. - The company is committed to optimizing logistics and transportation capabilities to address bottlenecks and improve efficiency[152]. - The company will continue to seek resource projects that align with its strengths and capitalize on market opportunities for mergers and acquisitions[151].