SJI(SZ:000975)2024-03-22 16:00Financial Performance - In 2023, the company's operating revenue was CNY 8,105,716,063, a decrease of 3.29% compared to CNY 8,381,544,037 in 2022[21]. - The net profit attributable to shareholders was CNY 1,424,298,787, representing a 26.79% increase from CNY 1,124,456,118 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 1,410,506,239, which is a 37.21% increase from CNY 1,029,083,457 in 2022[21]. - The cash flow from operating activities was CNY 2,179,893,423, reflecting a 9.59% increase compared to CNY 1,989,082,353 in 2022[21]. - The total assets at the end of 2023 were CNY 16,298,948,219, an increase of 0.84% from CNY 16,166,799,630 at the end of 2022[21]. - The net assets attributable to shareholders increased by 5.94% to CNY 11,560,664,360 from CNY 10,912,779,630 in 2022[21]. - The basic earnings per share rose to CNY 0.5129, a 26.77% increase from CNY 0.4050 in the previous year[21]. - The weighted average return on equity was 12.90%, up from 10.58% in 2022, indicating improved profitability[21]. - The company achieved an operating profit of CNY 2,097.09 million, an increase of 29.79% year-on-year, and a net profit attributable to shareholders of CNY 1,424.30 million, up 26.79% year-on-year[54]. Shareholder Information - The company plans to distribute a cash dividend of 2.8 yuan per 10 shares (including tax) based on a total of 2,776,722,265 shares[4]. - The company distributed a cash dividend of ¥2.80 per 10 shares, totaling ¥777,482,234.20, which represents 100% of the profit distribution amount[140]. - The retained earnings at the end of 2023 amounted to ¥1,031,613,784.21 after the dividend distribution[140]. - The annual shareholders' meeting on March 21, 2023, had a participation rate of 43.88%[115]. - The first interim shareholders' meeting in January 2023 had a participation rate of 38.34%[115]. - The company held a temporary shareholders' meeting on August 14, 2023, with a participation rate of 62.46%[116]. Risk Management - The company acknowledges risks related to metal price fluctuations, safety, environmental protection, and resource management[4]. - The company has outlined potential risks in the "Management Discussion and Analysis" section of the report[4]. - The company is actively monitoring macroeconomic trends and utilizing financial instruments to hedge against price risks, aiming to reduce the impact of market fluctuations on performance[101]. - The company has established a comprehensive risk management system for derivative investments, ensuring compliance with relevant laws and regulations[85]. Corporate Governance - The company has a robust governance structure in place, adhering to relevant laws and regulations, and has made updates to its internal governance policies to enhance operational effectiveness[109]. - The company is focused on enhancing its governance structure through the nomination of independent directors and the establishment of a new audit committee[116]. - The company is committed to maintaining transparency and accountability in its financial reporting and governance practices[116]. - The company has seen changes in its executive team, with several resignations and new appointments scheduled for the upcoming months[118]. Environmental and Social Responsibility - The company has established a comprehensive safety and environmental management system, with three out of five mines recognized as national green mines, emphasizing its commitment to sustainable practices[102]. - The company has implemented environmental protection measures in compliance with multiple national laws and standards[149]. - The company has actively engaged in poverty alleviation and rural revitalization efforts, including the "Hundred Enterprises Help Hundred Villages" initiative[157]. - The company has taken measures to minimize noise and dust pollution, including water spraying and land reclamation efforts[155]. Exploration and Production - The company operates five mining enterprises, focusing on gold exploration, mining, and trading, with significant potential for resource expansion in its exploration projects[34]. - In 2023, the company invested CNY 108.75 million in exploration activities, with CNY 80.10 million capitalized and CNY 28.65 million expensed[40]. - The company reported a total resource amount of 45.536 million tons of gold, with a metal amount of 146.66 tons, as of December 31, 2023[45]. - The company achieved an average grade of 3.22 g/t for gold across its resources, with a total of 21.717 million tons classified as reserves[46]. Market Trends - The total gold demand globally reached a record high of 4,899 tons in 2023, a 3% increase from 2022, with central banks net purchasing 1,037 tons, the second highest on record[29]. - China's gold consumption in 2023 was 1,089.69 tons, an increase of 8.78% year-on-year, with gold jewelry consumption rising by 7.97% to 706.48 tons[31]. - The average gold price in 2023 was 1,940.54 USD/oz, an 8% increase compared to the previous year, marking a historical high[30]. Strategic Initiatives - The company plans to enhance resource reserves through increased exploration investments and accelerate the conversion of exploration rights to mining rights[39]. - The company aims to improve production efficiency by increasing equipment utilization rates and expanding processing capacity[39]. - The company is focusing on innovation by investing in advanced mining and ore dressing technologies to optimize production processes[39]. - The company plans to address potential competition through asset restructuring, business adjustments, and management delegation[113]. Financial Health - The company’s asset-liability ratio is 17.98%, the lowest among gold mining companies, indicating strong financing capabilities[49]. - The company has a structured decision-making process for determining the remuneration of its directors and senior management[127]. - The company has a total of 38,000,000 RMB in related transactions, with no significant discrepancies between transaction prices and market reference prices[189].