HAILIANG(SZ:002203)2022-12-03 09:04Group 1: Company Overview - Zhejiang Hailiang Co., Ltd. operates under a "sales-driven production" model, earning stable processing fees without engaging in copper speculation [3] - The company has established a comprehensive risk control system to manage raw material price fluctuations, utilizing various pricing methods and futures hedging [3][4] Group 2: Production and Sales Performance - In 2017, the company sold 36,000 tons of copper processing materials, a year-on-year increase of 23.47% [4] - In the first half of 2018, sales of copper and other non-ferrous metal processing materials reached 362,600 tons, up 42.72% year-on-year [4] - The company has production bases in both domestic and international markets, with new bases established in the southwest region of China to enhance market penetration [4] Group 3: Financial Performance - For the first nine months of 2018, product sales increased by 35.74% year-on-year, while net profit rose by 20.18% [5] - In Q3 2018, net profit attributable to shareholders was 140 million yuan, a decrease of 18.59% year-on-year and a 46.5% decline from the previous quarter [5][6] - Financial expenses in Q3 2018 amounted to 226 million yuan, accounting for 48.68% of total financial expenses for the first nine months, reflecting a 323.55% increase compared to the previous year [6] Group 4: Strategic Vision and Goals - The company's vision is to become an international leader in the manufacturing of non-ferrous materials [5] - Strategic goals for 2025 include strengthening the copper processing business, extending upstream to quality resources, diversifying into alloy and other non-ferrous materials, and developing a second main business [5]