Kings(SH:603505)2024-03-28 16:00Financial Performance - The company's operating revenue for 2023 reached CNY 1,895,877,238.30, representing an increase of 80.54% compared to CNY 1,050,137,978.87 in 2022[37]. - Net profit attributable to shareholders for 2023 was CNY 348,898,949.72, a growth of 56.89% from CNY 222,386,070.67 in the previous year[37]. - The net profit after deducting non-recurring gains and losses was CNY 351,193,538.44, up 62.23% from CNY 216,478,708.68 in 2022[37]. - The company's total assets increased by 63.92% to CNY 5,013,506,192.90 in 2023, compared to CNY 3,058,532,341.71 in 2022[37]. - Basic earnings per share for 2023 were CNY 0.58, reflecting a 56.76% increase from CNY 0.37 in 2022[38]. - The weighted average return on equity rose to 23.45% in 2023, an increase of 6.21 percentage points from 17.24% in 2022[38]. - The company reported a negative net cash flow from operating activities of CNY -195,890,235.22 in Q4 2023, indicating cash flow challenges[41]. - The company’s net profit for 2023 was significantly boosted by new projects, contributing a total of 93.92 million RMB, which accounted for 26.74% of the total net profit[50]. Tax and Liabilities - Deferred tax liabilities amounted to CNY 139,830.88 million as of December 31, 2022[1]. - The company reported an income tax expense of CNY 53,059.68 million for the fiscal year 2022[1]. - The company has a total guarantee balance of CNY 0, excluding guarantees to subsidiaries[19]. - Total guarantees provided by the company to subsidiaries during the reporting period amounted to 336 million RMB[21]. - The total balance of guarantees to subsidiaries at the end of the reporting period was 950 million RMB[21]. - The total amount of guarantees (including those to subsidiaries) was 950 million RMB, which accounts for 58.17% of the company's net assets[21]. Research and Development - The company invested 48.53 million RMB in R&D, representing 2.56% of revenue, with a year-on-year increase of 43.06% in R&D spending[84]. - The company has a total of 200 patents, with 37 new patents granted in the reporting period, supporting its innovation-driven development[84]. - The company is focusing on R&D projects related to lithium mica selection, fluorite selection, and intelligent green mining technologies[183]. - The company has established strategic partnerships with several research institutions and universities to enhance its technical capabilities and innovation[141]. Production and Sales - The production of acid-grade fluorite powder and high-grade fluorite block ore reached approximately 426,600 tons, an increase of about 1,610 tons compared to 2022[50]. - The sales volume of self-produced acid-grade fluorite powder and high-grade fluorite block ore was 441,300 tons, an increase of approximately 2,890 tons year-on-year[50]. - The company produced 30,600 tons of anhydrous hydrofluoric acid during the trial production period, with sales of 28,900 tons[50]. - The company achieved a total revenue of RMB 1,895.88 million in 2023, primarily from the sales of fluorite concentrate, anhydrous hydrofluoric acid, and lithium mica concentrate[146]. - The sales volume of self-produced fluorite concentrate was 44.13 million tons, an increase of 7.01% compared to the previous year[173]. Market and Strategic Focus - The company is focusing on global strategic investments in fluorite resources, particularly in Mongolia, which is a key source for fluorite imports to China[109]. - The company is expanding its global footprint, with plans to target markets in South Africa and South America, viewing Mongolia as a starting point for international expansion[111]. - The company’s strategic focus on "resource + technology" has led to significant growth and expansion in overseas strategic resources[75]. - The company is transitioning from primary fluorochemical products to high-end fluorochemical products, driven by stable demand in traditional refrigerants and emerging industries[92]. Environmental and Social Responsibility - The company’s environmental protection measures include comprehensive waste treatment processes and pollution control facilities, ensuring compliance with environmental standards[80]. - The company’s ESG rating improved to A in 2023, placing it in the top 10% of the "metals, non-metals, and mining" industry[84]. - The company has developed a unique "new green mining development model," focusing on resource conservation and recycling, which includes zero wastewater discharge and comprehensive utilization of tailings[142]. Shareholder and Equity Management - The company executed a stock dividend distribution, issuing 0.4 shares for every share held, affecting the calculation of earnings per share[40]. - The company’s total cash dividend distribution reflects a commitment to returning value to shareholders[58]. - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares (including tax), totaling approximately 180.54 million RMB, which accounts for 51.75% of the net profit attributable to shareholders for the year 2023[66]. - The number of ordinary shareholders increased from 15,044 to 15,739 during the reporting period[64]. - The largest shareholder, Zhejiang Jinshi Industrial Co., Ltd., holds 300,625,574 shares, accounting for 49.71% of the total shares[64].