Production and Sales - In 2022, the company produced 11,083 tons of electrolytic nickel, a decrease of 8.43% compared to 2021, and 9,302 tons of cathode copper, a decrease of 15.68%[35] - The sales volume of cathode copper in 2022 was 9,775 tons, a decrease of 11.55% from 11,051 tons in 2021[41] - The company sold 12,752 tons of electrolytic nickel in 2022, a growth of 16.53% year-on-year, while sales of cathode copper decreased by 11.55% to 9,775 tons[146] Revenue and Profit - The company's total revenue for electrolytic nickel reached RMB 2,066,783 thousand, representing a 73.1% increase, while other products generated revenue of RMB 80,405 thousand, accounting for 2.8% of total revenue[40] - The company's operating revenue for 2022 reached RMB 2,863,725 thousand, representing a 20.1% increase from RMB 2,382,408 thousand in 2021[67] - The total profit for 2022 was RMB 833,462 thousand, compared to RMB 570,184 thousand in 2021, reflecting a growth of 46.2%[108] - The net profit attributable to ordinary shareholders for the year ended December 31, 2022, was RMB 744,654 thousand, compared to RMB 515,585 thousand in 2021, reflecting a significant increase[18] Costs and Expenses - The average selling cost of electrolytic nickel in 2022 was RMB 74,542 per ton, an increase of 17.36% year-on-year, while the average selling cost of cathode copper was RMB 51,866 per ton, up 19.12% from 2021[36] - The average sales price of cathode copper in 2022 was RMB 59,605 per ton, down 2.35% from RMB 61,041 per ton in 2021[41] - The gross profit from the main business for 2022 was RMB 1,210.9 million, an increase of RMB 335.3 million from RMB 875.6 million in 2021[42] - The company's gross profit margin improved to 43.2% in 2022, compared to 38.3% in 2021[67] - Research and development expenses increased to RMB 94,094 thousand, a rise of 36.2% from RMB 69,089 thousand in 2021[67] Assets and Liabilities - The company's total current assets as of December 31, 2022, were RMB 2,222,608 thousand, an increase from RMB 2,185,681 thousand in 2021[2] - The company's total assets as of December 31, 2022, were RMB 7,829,460 thousand, an increase from RMB 7,393,500 thousand in 2021[68] - The total liabilities decreased to RMB 2,139,794 thousand in 2022 from RMB 2,447,071 thousand in 2021, a reduction of 12.6%[69] - The net debt of the group was RMB 375.0 million as of December 31, 2022, down from RMB 1,072.4 million in 2021, resulting in a capital liability ratio of 6.18% compared to 17.82% in 2021[180] Cash Flow - Cash and cash equivalents increased to RMB 626,512 thousand in 2022, up from RMB 425,750 thousand in 2021, reflecting a growth of 47.2%[68] - Cash inflow from operating activities in 2022 was RMB 867.0 million, an increase of RMB 184.0 million compared to RMB 683.0 million in 2021[157] - The net cash outflow from investing activities was RMB 16.4 million, primarily due to the construction of fixed assets[157] Investments and Future Plans - The company completed an investment of RMB 38.9 million in the Xinjiang Yakesi project to enhance production capacity and ore quality in 2022[38] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[67] - The company plans to produce 8,500 tons of electrolytic nickel in 2023, a decrease of 10.5% from 2022, and 6,829 tons of cathode copper, down 26.0% from 2022[165] Shareholder Information - The company plans to distribute a final dividend of RMB 0.15 per share, pending approval at the annual general meeting[110] - Shareholders' equity increased from RMB 4,946.4 million in 2021 to RMB 5,689.7 million in 2022, primarily due to profits earned in 2022[179] Impairments and Provisions - The company reported a net impairment loss of RMB 99.5 million in 2022, significantly higher than RMB 3.5 million in 2021[155] - The group recognized an impairment provision of RMB 65.8 million for fixed assets planned for elimination due to energy consumption standards not being met, as part of an overall upgrade and transformation plan[200] Market Conditions and Strategy - The group expects domestic consumption of electrolytic nickel and cathode copper to continue to grow in 2023, driven by the Chinese government's projected GDP growth of approximately 5%[188] - The company's operational strategy includes ongoing improvements in mining activities and environmental restoration, with future liabilities expected to be adjusted based on mining impacts[30]
新疆新鑫矿业(03833) - 2022 - 年度业绩