香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 2023年第三季度報告 一. 重要提示 1.1 江 西 銅 業 股 份 有 限 公 司（「本公司」或「公 司」）董 事 會、監 事 會 及 董 事（「董 事」）、監 事、高 級 管 理 人 員 保 證 季 度 報 告 內 容 的 真 實、 準 確、完 整，不 存 在 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏，並 承 擔 個 別 和 連 帶 的 法 律 責 任。 1.2 公司負責人、主管會計工作負責人 及 會 計 機 構 負 責 人（會 計 主 管 人 員）保 證 季 度 報 告 中 財 務 信 息 的 真 實、準 確、完 整。 1.3 本公司及其子公司第三季度報告中的財務報表乃按中國企業 會 計 準 則 編 制，未 經 審 計。 1.4 本 季 度 報 告 是 根 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 ...

Financial Performance - Jiangxi Copper Company reported that its mid-year financial report for the six months ending June 30, 2023, has been reviewed and approved by the audit committee[1]. - The company did not propose any profit distribution or capital reserve transfer to increase share capital during the reporting period[1]. - The management emphasized that the financial report is true, accurate, and complete, ensuring no significant omissions or misleading statements[1]. - The company's operating revenue for the first half of 2023 was RMB 266,749,635,000, representing a 4.78% increase compared to RMB 254,587,825,000 in the same period of 2022[14]. - The net profit attributable to shareholders for the first half of 2023 was RMB 3,472,301,000, a decrease of 3.44% from RMB 3,595,912,000 in the previous year[14]. - Total assets increased by 27.43% to RMB 213,236,379,000 as of June 30, 2023, compared to RMB 167,330,540,000 at the end of the previous year[14]. - The company's total liabilities rose by 46.54% to RMB 125,119,940,000 from RMB 85,380,383,000 year-over-year[14]. - Basic earnings per share for the first half of 2023 were RMB 1.00, down 3.44% from RMB 1.04 in the same period last year[14]. - The net cash flow from operating activities decreased by 11.91% to RMB 6,464,968,486 compared to RMB 7,339,203,609 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 2,704,242,203, a decline of 1.89% from RMB 2,756,439,259 in the same period last year[17]. - The company's net assets attributable to shareholders increased by 7.24% to RMB 78,842,818,176 from RMB 73,518,652,248 at the end of the previous year[17]. - The weighted average return on equity for the first half of 2023 was 4.41%, down from 5.01% in the same period last year[21]. Production and Operations - The company operates five active mines in Jiangxi Province, including Chengmenshan and Dexing mines, contributing to its copper production capabilities[4]. - The company produced 988,300 tons of cathode copper, a year-on-year increase of 6.97%[61]. - Gold production reached 55 tons, a year-on-year increase of 14.89%[61]. - The production capacity for gold is 50 tons annually, while silver production capacity stands at 1,000 tons, with by-product electrolytic copper at 250,000 tons and sulfuric acid at 1.3 million tons[37]. - The company operates five wholly-owned mines, including the Dexing Copper Mine and Yongping Copper Mine, contributing to its extensive resource base[40]. Environmental and Social Responsibility - Jiangxi Copper Company is committed to environmental and social responsibilities, as outlined in its governance section[2]. - The company has invested significantly in environmental protection equipment and production process upgrades to comply with national environmental standards[126]. - The company has implemented multiple ecological restoration and environmental governance projects as part of its commitment to green development and environmental protection[146]. - The company has completed several environmental protection projects, including the Yongping Copper Mine ecological restoration project, which passed environmental protection acceptance on February 7, 2023[148]. - The company has established an emergency response mechanism for sudden environmental pollution incidents to minimize harm and ensure public safety[153]. Market and Strategic Initiatives - The company continues to focus on expanding its market presence and enhancing its operational efficiency through strategic initiatives[2]. - The company aims to expand its market presence and enhance its product offerings through strategic investments and technological advancements in the mining and metallurgy sectors[36]. - The sales model includes direct sales and long-term contracts with major customers, primarily targeting markets in East and South China, as well as exports to South Korea and Southeast Asia[45]. - The company has implemented various policies to stabilize growth, including interest rate cuts by the central bank[48]. Financial Position and Investments - The company's total assets increased from CNY 32.68 billion to CNY 46.99 billion, representing a growth of CNY 14.31 billion or approximately 43.8%[33]. - The investment in equity instruments rose by CNY 3.31 billion, from CNY 18.50 billion to CNY 21.81 billion, indicating an increase of 17.9%[33]. - The company reported a significant increase in debt instruments, with a rise of CNY 8.75 billion, from CNY 2.24 billion to CNY 10.99 billion, reflecting a growth of 389.5%[33]. - As of June 30, 2023, the company indirectly holds 126,842,671 shares of First Quantum Minerals Ltd., representing 18.304% of its total issued shares, with a fair value of RMB 21.753 billion, accounting for 10.20% of the company's total assets[111]. - The company plans to explore asset-level cooperation with First Quantum Minerals Ltd. to enhance project profitability, leveraging its rich copper reserves and strong cash flow potential[112]. Risks and Challenges - The company faces safety production risks during ore selection and copper smelting processes, which could lead to significant property loss and environmental impact if not managed properly[118]. - The company is exposed to foreign exchange risk due to its reliance on USD for imports and overseas investments, which could negatively impact profitability if not effectively managed[119]. - The company faces risks from changes in the macroeconomic environment, which directly affect overall consumer demand and, consequently, the demand for its products[124]. - The demand for copper products is influenced by various downstream industries, including power, electronics, and construction, which may experience uneven growth rates[124]. Related Party Transactions - The company engaged in related party transactions with its controlling shareholder, Jiang Copper, for various products, including auxiliary industrial products and lead materials[185]. - The total related party transactions amounted to RMB 9.444 billion, with purchases at RMB 968 million and sales at RMB 1.144 billion, while financial company deposit and loan transactions reached RMB 7.332 billion[190]. - The company provided loans totaling RMB 1.222 billion to related parties, with interest income from these loans amounting to RMB 49.9 million[187]. - The company accepted deposits from related parties totaling RMB 6.020 billion, with interest expenses on these deposits amounting to RMB 40.1 million[187]. Governance and Compliance - The company has engaged Ernst & Young Hua Ming as its auditing firm for the 2023 fiscal year, covering both domestic and overseas audits[176]. - The company has committed to ensuring the independence of its board of directors while holding 30% or more voting rights, in compliance with the requirements of the London Stock Exchange[170]. - The company has not reported any significant legal violations or penalties during the reporting period[182]. - The company has ongoing litigation cases, including a contract dispute with Hubei Automotive Technology Co., Ltd. involving its wholly-owned subsidiary[176].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任何損失承擔任何責任。 二 零 二 三 年 中 期 業 績 公 告 一. 重 要 提 示 （一） 江西銅業股份有限公司（「本公司」或「公司」）董事會（「董事會」）、 監 事 會（「監 事 會」）及 其 董 事（「董 事」）、監 事（「監 事」）、高 級 管 理 人 員 保 證 本 公 告 內 容 的 真 實 性、準 確 性、完 整 性，不 存 在 虛 假 記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 本 公 告 摘 自 中 期報 告 全 文，報 告 全 文 將 刊 載 於 香 港 聯 合 交 易 所 有 限 公 司（「 聯 交 所 」）(http://www.hkexnews.hk)及 本 公 司 ...

Financial Performance - The company's operating revenue for the year reached CNY 479.94 billion, an increase of 8.40% compared to the previous year[17]. - Net profit attributable to shareholders was CNY 5.99 billion, reflecting a growth of 6.36% year-on-year[17]. - The net cash flow from operating activities amounted to CNY 10.64 billion, representing a 17.82% increase from the previous year[17]. - The total assets of the company at the end of 2022 were CNY 167.33 billion, up 3.91% from the previous year[17]. - The company's net assets attributable to shareholders increased to CNY 73.52 billion, a rise of 5.33% year-on-year[17]. - Basic earnings per share for 2022 were CNY 1.73, a 6.36% increase compared to CNY 1.63 in 2021[18]. - The weighted average return on net assets was 8.36%, slightly down from 8.69% in the previous year[18]. - The total non-operating income for 2022 was RMB 576.93 million, a significant recovery from a loss of RMB 1.46 billion in 2021[23]. - The company's consolidated operating revenue for 2022 was RMB 479.94 billion, an increase of RMB 37.17 billion or 8.40% compared to 2021[41]. - The net profit attributable to shareholders for 2022 was RMB 5.99 billion, up RMB 358.40 million or 6.36% year-on-year[41]. Production and Operations - The production of copper cathodes reached 1.8394 million tons, a 3.21% increase from 1.7822 million tons in 2021[27]. - Gold production increased by 23.92% to 88.80 tons from 71.66 tons in the previous year[27]. - The company completed key projects, including a 220,000 tons/year copper rod project and a 30,000 tons/year new material project ahead of schedule[28]. - Ongoing projects include the expansion of the Wushan copper mine, which is expected to exceed its annual progress plan and achieve completion six months ahead of schedule[28]. - Cathode copper production reached 183.94 million tons, with a year-over-year increase of 3.21% in production and 2.81% in sales[48]. - Gold production was 88.80 tons, showing a significant year-over-year increase of 23.92% in production and 21.46% in sales[48]. - Silver production totaled 1,232.72 tons, with production and sales increasing by 9.70% and 4.58% respectively compared to the previous year[48]. Investments and Capital Expenditure - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[17]. - Total investment amount during the reporting period reached RMB 100,611.01 million, an increase of 18.76% compared to RMB 84,720.25 million in the same period last year[95]. - Jiangxi Copper Technology has invested RMB 8,000 million, focusing on technology services, development, and new material technology research[94]. - Jiangxi Copper Group has invested RMB 12,600 million in Jiangxi Copper Group Silver Mountain Mining Co., Ltd., which focuses on the production and sales of non-ferrous metals and related products[96]. - Jiangxi Copper Materials Co., Ltd. has invested RMB 22,000 million, specializing in copper rod production and related deep processing[97]. Risk Management and Compliance - The company emphasizes the importance of investment risk awareness regarding forward-looking statements in the annual report[2]. - The company faces significant price volatility in metals such as copper, gold, and silver, influenced by global economic conditions and market speculation[103]. - The company has implemented strict hedging policies to mitigate risks associated with commodity price fluctuations, prohibiting speculative trading[103]. - The company acknowledges currency fluctuation risks, with strategies in place to monitor and respond to exchange rate changes to minimize potential losses[128]. - The company faces product price volatility risks, particularly for copper, gold, and silver, and plans to implement hedging strategies and improve operational efficiency to mitigate these risks[129]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and has adhered to all relevant regulations during the reporting period[135]. - The board of directors is responsible for the overall strategy, financial monitoring, and compliance with legal regulations, ensuring effective communication with shareholders[139]. - The independent audit committee consists of four independent non-executive directors, with Mr. Zhu Xingwen serving as the chairman[144]. - The independent audit committee confirmed that Ernst & Young Huaming executed the audit in compliance with Chinese CPA standards, ensuring the audit report accurately reflects the company's financial status as of December 31, 2022[147]. - The company has established a risk management office to oversee the daily operations of the risk control system[190]. Environmental and Social Responsibility - The company invested over RMB 300 million in ecological restoration, with an area of over 270 hectares restored[32]. - The company has made substantial investments in environmental protection, which may increase operational costs if stricter regulations are imposed in the future[132]. - The company has established a policy for insider information management to ensure confidentiality and fair disclosure[191]. - The company is actively involved in the recycling of waste metals, with its subsidiary Jiangxi Copper Group (Guixi) Recycled Resources Co., Ltd. reporting operating revenue of RMB 9,868,000[105]. Market Outlook - The macroeconomic environment is expected to improve in the second half of 2023, leading to a potential bull market for copper prices[120]. - The company anticipates a stable supply of scrap copper in 2023, while the supply of copper concentrate is expected to tighten due to strikes and natural disasters affecting major mines in Peru and Indonesia[119]. - The consumption of copper in traditional sectors is expected to see a slight increase, while the new energy sector is projected to experience significant growth, with copper consumption in photovoltaic, wind power, and new energy vehicles expected to rise from 1.09 million tons in 2022 to 2.09 million tons by 2025[120].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任何損失承擔任何責任。 2023年 第 一 季 度 報 告 一. 重 要 提 示 1.1 江西銅業股份有限公司（「本公司」或「公司」）董事會（「董事會」）、 監 事 會 及 董 事（「董 事」）、監 事、高 級 管 理 人 員 保 證 季 度 報 告 內 容 的 真 實、準 確、完 整，不 存 在 虛 假 記 載、誤 導 性 陳 述 或 重 大 遺 漏，並承擔個別和連帶的法律責任。 1.2 公 司 負 責 人 鄭 高 清、主 管 會 計 工 作 負 責 人 余 彤 及 會 計 機 構 負 責 人（會計主管人員）鮑嘯鳴保證季度報告中財務信息的真實、準確、 ...

Financial Performance - The company's operating revenue for the year ended December 31, 2022, was RMB 479.94 billion, an increase of 8.40% compared to RMB 442.77 billion in 2021[8]. - The net profit attributable to shareholders for the same period was RMB 5.99 billion, reflecting a growth of 6.36% from RMB 5.64 billion in 2021[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 23.64% to RMB 5.42 billion from RMB 7.09 billion in 2021[8]. - The net cash flow from operating activities increased by 17.82% to RMB 10.64 billion compared to RMB 9.03 billion in 2021[8]. - The total assets of the company as of the end of 2022 were RMB 167.33 billion, a 3.91% increase from RMB 161.03 billion at the end of 2021[8]. - The net assets attributable to shareholders increased by 5.33% to RMB 73.52 billion from RMB 69.80 billion in 2021[8]. - The basic earnings per share for 2022 were RMB 1.73, up 6.36% from RMB 1.63 in 2021[9]. - The weighted average return on net assets for 2022 was 8.36%, a decrease of 0.33 percentage points from 8.69% in 2021[9]. - The company reported a net profit attributable to shareholders of the parent company for 2022 was RMB 6.00 billion, reflecting a growth of 3.97% from RMB 5.77 billion in 2021[13]. - The net profit for the fourth quarter of 2022 was RMB 1.27 billion, showing a slight decrease from RMB 1.26 billion in the third quarter[12]. Dividends and Shareholder Returns - The company plans to distribute a final dividend of RMB 0.50 per share for the year 2022[3]. - The company plans to distribute a final dividend of RMB 5 per 10 shares, totaling approximately RMB 1,731,364,702.5, which accounts for 28.89% of the net profit attributable to shareholders for 2022[117]. - The net profit attributable to shareholders for 2022 was RMB 5,993,964,274, with accumulated undistributed profits amounting to RMB 31,450,179,926[118]. Production and Operations - The production of copper cathodes reached 1.8394 million tons in 2022, a 3.21% increase from 1.7822 million tons in 2021[18]. - Gold production increased by 23.92% to 88.80 tons in 2022, up from 71.66 tons in 2021[18]. - The company completed key projects ahead of schedule, including a 220,000 tons/year copper rod project and a 30,000 tons/year new material project[19]. - Ongoing projects include a 10,000 tons/day expansion at the Wushan Copper Mine, which is expected to complete six months ahead of schedule[20]. - The company is actively pursuing new projects in lithium battery copper foil and resource recycling, aiming to enhance its market position[20]. Financial Position and Assets - The total liabilities as of December 31, 2022, were RMB 85.38 billion, an increase of 2.59% from RMB 83.22 billion in 2021[13]. - The company’s total resource reserve of approximately 8.99 million tons of copper metal, 275.9 tons of gold, and 8,626 tons of silver as of December 31, 2022[41]. - The company’s financial liabilities, including bank borrowings, decreased to RMB 6,256,716 thousand in 2022 from RMB 11,856,035 thousand in 2021, a reduction of approximately 47.3%[144]. - The company’s investment properties increased to RMB 882,327 thousand in 2022 from RMB 603,420 thousand in 2021, reflecting a growth of about 46.2%[142]. Market and Economic Conditions - The LME three-month copper price closed at $8,374 per ton on December 30, 2022, down 14.2% year-on-year, with an average price of $8,786.1 per ton for the year, a decrease of 5.5%[26]. - The overall macroeconomic environment is expected to improve in the second half of 2023, potentially leading to a bull market in copper prices[92]. - The domestic economic situation in 2023 is generally improving, with accelerated growth, but recovery momentum remains weak, and global economic growth is insufficient[105]. Research and Development - Research and development expenses increased by 3.31% to RMB 903.06 million, reflecting a rise in R&D investment[48]. - Total R&D investment reached RMB 543.78 million, representing 1.13% of operating revenue, with capitalized R&D accounting for 6.53%[70]. - The number of R&D personnel was 5,347, making up 21.34% of the total workforce, with 101 holding doctoral degrees[71]. Risks and Challenges - The company has outlined potential industry risks in its annual report, which investors should consider[3]. - The company faces safety production risks during the mining and copper smelting processes, which could lead to significant property loss and environmental impact if not managed properly[98]. - The company is exposed to foreign exchange risk due to its reliance on USD for imports and overseas investments, which could negatively affect profitability if not effectively controlled[99]. - The company recognizes market environment changes as a risk, particularly due to economic cycles affecting demand for its products[102]. Corporate Governance - The company has maintained a high level of corporate governance and has complied with the corporate governance code during the reporting period, with some exceptions noted[110]. - The total remuneration for directors and senior management during the reporting period amounted to 1,674.25 million yuan[108]. Acquisitions and Investments - The group acquired 91.59% of Tianjin Da Wufeng Investment Co., Ltd. for RMB 300,000,000 in cash as part of its strategy to expand its copper processing business[148]. - The acquisition of 51.00% of Jiangxi Cable Co., Ltd. was completed for RMB 208,404,000 in cash, further strengthening the copper processing segment[148]. - Jiang Copper Group invested a total of $12.6 million in the production and sales of non-ferrous metals and related products[85].

Financial Performance - Operating revenue for the third quarter reached CNY 112.91 billion, an increase of 2.22% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 1.26 billion, a decrease of 13.79% year-on-year[3] - Net profit excluding non-recurring gains and losses was CNY 1.10 billion, an increase of 45.80% compared to the same period last year[3] - Total operating revenue for the first three quarters of 2022 reached CNY 368.16 billion, an increase from CNY 337.26 billion in the same period of 2021, representing a growth of approximately 9.4%[24] - Net profit attributable to shareholders for the first three quarters of 2022 was CNY 4.73 billion, up from CNY 4.51 billion in 2021, reflecting a growth of approximately 4.9%[28] - Total comprehensive income attributable to the parent company for the first three quarters of 2022 was ¥1,601,443,197, a decrease of 67.8% compared to ¥4,975,019,823 in the same period of 2021[30] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 10.60 billion, reflecting a growth of 31.38%[3] - Net cash flow from operating activities for the first three quarters of 2022 was ¥10,596,267,201, an increase of 31.4% from ¥8,065,620,499 in the same period of 2021[33] - Cash inflow from investment activities for the first three quarters of 2022 was ¥12,415,401,116, a decrease of 7.0% compared to ¥13,358,980,071 in the same period of 2021[34] - Cash outflow from investment activities for the first three quarters of 2022 was ¥24,823,947,681, an increase of 39.8% from ¥17,739,127,644 in the same period of 2021[35] - Net cash flow from financing activities for the first three quarters of 2022 was ¥5,506,215,416, a decrease of 22.7% compared to ¥7,127,479,644 in the same period of 2021[36] - The company reported a net increase in cash and cash equivalents of ¥3,654,150,194 for the first three quarters of 2022, compared to ¥10,805,602,776 in the same period of 2021[37] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 176.15 billion, representing a year-on-year increase of 9.39%[3] - Total liabilities as of September 30, 2022, were CNY 98.34 billion, up from CNY 83.22 billion at the end of 2021, representing a growth of approximately 18.2%[22] - Current liabilities totaled CNY 81.80 billion as of September 30, 2022, compared to CNY 67.23 billion at the end of 2021, indicating an increase of about 21.7%[20] - Non-current liabilities reached CNY 16.54 billion as of September 30, 2022, compared to CNY 15.99 billion at the end of 2021, reflecting a growth of approximately 3.4%[22] - The company’s total assets as of September 30, 2022, were CNY 176.15 billion, up from CNY 161.03 billion at the end of 2021, representing an increase of about 9.4%[23] Shareholder Information - Shareholders' equity attributable to shareholders was CNY 69.23 billion, a slight decrease of 0.82% from the previous year[3] - The total number of ordinary shareholders at the end of the reporting period was 158,499[8] - The largest shareholder, Jiangxi Copper Group Co., Ltd., holds 43.70% of the shares[9] - The company has a total of 1,513,356,110 shares held by Jiang Copper Group, representing approximately 43.72% of the total issued share capital[14] Earnings and Expenses - The company reported a basic earnings per share of CNY 0.37, an increase of 58.93% year-on-year[3] - The company reported a basic earnings per share of ¥1.37 for the first three quarters of 2022, compared to ¥1.30 in the same period of 2021[30] - Research and development expenses for the first three quarters of 2022 amounted to CNY 673.12 million, compared to CNY 615.52 million in 2021, showing an increase of about 9.4%[25] - The company reported a financial expense of CNY 215.07 million for the first three quarters of 2022, a decrease from CNY 702.76 million in 2021, showing a reduction of approximately 69.5%[25] Inventory and Investments - The inventory level decreased to RMB 33.50 billion from RMB 36.98 billion year-over-year[17] - The long-term equity investments decreased to RMB 4.64 billion from RMB 5.06 billion year-over-year[19] - The company reported a significant increase in derivative financial assets, rising to RMB 1.24 billion from RMB 379.10 million[17] - The company’s total receivables decreased slightly to RMB 5.26 billion from RMB 5.52 billion year-over-year[17] - The company’s total non-current assets decreased to RMB 63.01 billion from RMB 67.79 billion year-over-year[19] Foreign Exchange and Cash Management - The company recorded a foreign exchange loss of ¥39,785,858 affecting cash and cash equivalents in the first three quarters of 2022, compared to a loss of ¥7,349,794 in the same period of 2021[37] - Cash and cash equivalents at the end of the first three quarters of 2022 amounted to ¥24,949,440,327, a decrease from ¥25,257,378,941 at the end of the same period in 2021[37] - The company’s cash and cash equivalents increased to RMB 45.70 billion from RMB 34.83 billion year-over-year[17]

Financial Performance - Jiangxi Copper Company reported a profit distribution plan for the six months ending June 30, 2022, indicating no profit distribution or capital reserve transfer to share capital[2]. - The company's revenue for the first half of 2022 reached RMB 255.25 billion, representing a 12.55% increase compared to RMB 226.79 billion in the same period last year[30]. - Net profit attributable to shareholders for the same period was RMB 3.47 billion, up 13.92% from RMB 3.04 billion year-on-year[30]. - The net profit after deducting non-recurring gains and losses decreased by 47.09% to RMB 2.76 billion from RMB 5.21 billion in the previous year[30]. - The total assets as of June 30, 2022, amounted to RMB 183.96 billion, reflecting a 14.24% increase from RMB 161.03 billion at the end of the previous year[29]. - The total liabilities increased by 28.29% to RMB 106.77 billion from RMB 83.22 billion at the end of the previous year[29]. - Basic earnings per share for the first half of 2022 were RMB 1.00, a 13.92% increase from RMB 0.88 in the same period last year[32]. - The net cash flow from operating activities surged by 315.25% to RMB 7.34 billion compared to RMB 1.77 billion in the previous year[30]. - The company's net assets attributable to shareholders decreased by 1.62% to RMB 68.67 billion from RMB 69.80 billion at the end of the previous year[29]. - The weighted average return on equity increased to 5.01%, up from 4.80% in the previous year[32]. Operational Highlights - The company operates five producing mines in Jiangxi Province, including Chengmenshan and Dexing mines, which are key to its copper production[2]. - Jiangxi Copper's operations include the production of refined copper, copper rods, and copper cathodes, which are essential for its revenue generation[2]. - The company produced 923,900 tons of cathode copper in the first half of 2022, a 2.51% increase from 901,300 tons in the same period of 2021[56]. - Gold production reached 478.7 tons, marking a significant year-on-year increase of 23.15% from 388.7 tons[56]. - The company operates five wholly-owned mines, including the Dexing Copper Mine and Yongping Copper Mine, contributing to its comprehensive production capabilities[41]. Investments and Assets - The company reported a significant investment in trading debt instruments, with bond investments totaling approximately $973.59 million, reflecting an increase of $2.59 billion compared to the previous period[39]. - The company holds a 44.48% stake in Hengbang Co., which is a key player in gold exploration and production, with an annual capacity of 50 tons of gold and 1,000 tons of silver[40]. - The company's total financial assets include other equity investments amounting to approximately $19.26 billion, a decrease of $3.09 billion from the previous period[39]. - The company’s inventory measured at fair value is approximately $6.31 billion, showing a decrease of $811.57 million compared to the last reporting period[39]. - The company’s receivables financing stands at approximately $2.54 billion, indicating a robust financing strategy[39]. Environmental Compliance and Initiatives - The company reported SO2 emissions of 239.323 tons and NOx emissions of 478.017 tons, with particulate matter emissions at 45.2394 tons, all adhering to the relevant pollution discharge standards[110]. - The company achieved a COD level of 303.6 mg/L and ammonia nitrogen level of 40.48 mg/L at the Chengmen Mountain Copper Mine, meeting the discharge standards[110]. - The company plans to enhance its environmental compliance by maintaining organized emissions after meeting the standards, with specific focus on SO2 and NOx emissions reductions[110]. - The company has established a comprehensive strategy for pollution control, including regular assessments of its discharge levels[110]. - The company is committed to continuous improvement in its environmental performance, aiming for further reductions in key pollutants[110]. Strategic Outlook - The company is focused on expanding its market presence in East and South China, as well as exporting products to South Korea, Japan, and Southeast Asia[45]. - The company plans to explore asset-level cooperation with FQM to enhance project profitability in copper mining[91]. - The company is exploring strategic acquisitions to bolster its market position and diversify its product offerings[88]. - Jiangxi Copper Group's future outlook remains positive, with projected revenue growth driven by increased production capacity and market expansion initiatives[90]. - The company aims to enhance product quality and reduce production costs in response to changes in the market environment[100]. Governance and Management - The company has elected new supervisors to replace those who resigned due to job changes, ensuring continuity in governance[106]. - The company emphasizes the importance of financial management and efficient resource allocation to reduce the impact of rising product prices on liquidity[99]. - The company has established various financial management regulations to enhance financial control, including measures for large fund usage and cash management[177]. - The company has adhered to all corporate governance codes as per the listing rules, with no significant legal risks identified[174]. - The company employs a total of 23,659 staff, with production personnel making up 69.15% of the workforce[194].

Financial Performance - The company's operating revenue for the first quarter reached CNY 122.15 billion, representing a year-on-year increase of 19.72%[2] - Net profit attributable to shareholders was CNY 1.47 billion, up 71.45% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1.76 billion, reflecting a 38.10% increase year-on-year[2] - Basic earnings per share were CNY 0.43, which is a 71.45% increase year-on-year[2] - Net profit for Q1 2022 was CNY 1.55 billion, compared to CNY 872.75 million in Q1 2021, representing a 77.8% increase[27] - The company reported a total comprehensive income attributable to shareholders of CNY 8.65 billion in Q1 2022, compared to CNY 998.52 million in Q1 2021[29] - Total comprehensive income for the first quarter of 2022 reached CNY 10,196,649,955, compared to CNY 1,871,270,928 in the same period of 2021, representing a significant increase[31] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 189.38 billion, a 17.60% increase from the previous year[3] - The total liabilities increased to CNY 101.23 billion in Q1 2022 from CNY 83.22 billion in Q1 2021, marking a 21.7% rise[20] - Non-current liabilities totaled CNY 21.17 billion in Q1 2022, up from CNY 15.99 billion in Q1 2021, reflecting a 32.5% increase[20] - The equity attributable to shareholders increased to CNY 79.98 billion, marking a 14.59% rise compared to the end of the previous year[3] - Shareholders' equity reached CNY 88.15 billion in Q1 2022, compared to CNY 77.81 billion in Q1 2021, indicating a 13.2% growth[21] Cash Flow - The net cash flow from operating activities was negative at CNY -1.94 billion, a decrease of 8.74% compared to the previous year[2] - Cash inflow from operating activities for the first quarter of 2022 was CNY 140,647,086,872, compared to CNY 117,809,976,294 in the first quarter of 2021, reflecting an increase of approximately 19.4%[33] - Cash outflow from operating activities totaled CNY 142,589,887,152 in the first quarter of 2022, compared to CNY 119,596,689,891 in the same period of 2021, resulting in a net cash flow from operating activities of -CNY 1,942,800,280[35] - Cash inflow from investment activities was CNY 2,183,286,918 in the first quarter of 2022, slightly up from CNY 2,116,085,111 in the first quarter of 2021[36] - Cash outflow from investment activities amounted to CNY 5,401,276,341 in the first quarter of 2022, compared to CNY 4,405,406,922 in the same period of 2021, leading to a net cash flow from investment activities of -CNY 3,217,989,423[37] - Cash inflow from financing activities was CNY 26,197,372,656 in the first quarter of 2022, compared to CNY 24,604,927,294 in the first quarter of 2021, showing an increase of approximately 6.5%[38] - The net cash flow from financing activities for the first quarter of 2022 was CNY 5,860,309,570, down from CNY 6,934,437,339 in the same period of 2021[38] - The ending cash and cash equivalents balance as of the first quarter of 2022 was CNY 21,980,517,277, compared to CNY 17,343,255,726 at the end of the first quarter of 2021, indicating a year-over-year increase of approximately 26.5%[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 162,302[9] - Jiangxi Copper Group holds 1,507,060,610 shares, representing 43.52% of the total shares outstanding[10] - Central Clearing holds 1,073,442,014 shares, accounting for 31.00% of the total shares outstanding[13] - The company has a total of 1,198,603,610 A-shares and 308,457,000 H-shares outstanding[12] Other Financial Metrics - Other income for Q1 2022 was CNY 37.53 million, significantly higher than CNY 16.83 million in Q1 2021[26] - Investment income for Q1 2022 was CNY 34.24 million, a recovery from a loss of CNY 1.13 billion in Q1 2021[26] - The company reported a foreign currency translation loss of CNY -96,929,868 in the first quarter of 2022, compared to a loss of CNY -3,683,051 in the same period of 2021[31] - The company experienced a decrease in non-recurring losses, primarily due to a reduction in non-recurring losses from commodity futures contracts[8]

Financial Performance - The company's operating revenue for 2021 was CNY 442.77 billion, an increase of 38.99% compared to CNY 318.56 billion in 2020[15]. - Net profit attributable to shareholders for 2021 reached CNY 5.64 billion, representing a significant increase of 142.87% from CNY 2.32 billion in 2020[15]. - The net cash flow from operating activities was CNY 9.03 billion, a remarkable increase of 553.52% compared to CNY 1.38 billion in 2020[15]. - The total assets at the end of 2021 were CNY 161.03 billion, up 14.30% from CNY 140.88 billion at the end of 2020[15]. - The net assets attributable to shareholders increased to CNY 69.80 billion, reflecting a growth of 16.51% from CNY 59.91 billion at the end of 2020[15]. - Basic earnings per share for 2021 were CNY 1.63, a 142.87% increase from CNY 0.67 in 2020[16]. - The weighted average return on equity rose to 8.69%, an increase of 4.58 percentage points from 4.11% in 2020[16]. - The company reported a quarterly operating revenue of CNY 102.04 billion in Q1 2021, with net profit attributable to shareholders of CNY 859.45 million[19]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 7.09 billion, up 155.72% from CNY 2.77 billion in 2020[15]. Audit and Compliance - The group has undergone audits by Ernst & Young, receiving standard unqualified audit reports for its consolidated financial statements[2]. - The financial data presented in the report is derived from audited consolidated financial statements prepared in accordance with Chinese accounting standards[2]. - The company confirmed that there were no violations of decision-making procedures regarding external guarantees[2]. - The company maintains a commitment to transparency and accuracy in its financial reporting, as stated by its responsible officers[2]. - The Independent Audit Committee held two meetings in 2021, confirming the audit of the 2020 annual report and the 2021 interim report by Ernst & Young Huaming, providing written opinions on related transactions and external guarantees[113]. - The Independent Audit Committee reviewed the 2021 financial statements, concluding they were prepared in accordance with Chinese accounting standards, accurately reflecting the company's financial position as of December 31, 2021[113]. - The company recommended the continued appointment of Ernst & Young Huaming as the auditing firm for the 2022 fiscal year, ensuring compliance with independent auditing standards[113]. Risk Management - The company reported a significant focus on risk management, detailing industry risks in the "Management Discussion and Analysis" section[2]. - There were no instances of non-operational fund occupation by controlling shareholders or related parties reported[2]. - The report emphasizes the importance of investment risk awareness for investors regarding future plans and development strategies[2]. - The company is committed to improving its governance structure and risk management system to effectively prevent risks during its development[98]. - The company faces safety production risks during the mining and smelting processes, which could lead to significant property losses if not managed properly[98]. - The company is exposed to foreign exchange risk due to its reliance on USD for imports and overseas investments, which could negatively impact profitability if not effectively controlled[99]. - The company recognizes the risk of changing market environments affecting demand for its products, particularly in sectors like electricity and construction[101]. Research and Development - The company completed 59 new material research and development projects, including high-performance ultra-fine copper-silver alloy wire rods[28]. - A total of 190 patents were applied for during the year, with 46 being invention patents, and 154 patents, including 13 invention patents, were granted[28]. - Research and development expenses increased due to higher investment in R&D activities[37]. - The number of R&D personnel was 5,056, making up 19.32% of the total workforce, with 56 holding doctoral degrees and 383 holding master's degrees[57]. Corporate Governance - The company strictly adheres to the corporate governance guidelines and has continuously improved its governance structure in compliance with relevant laws and regulations[105]. - The board of directors consists of ten members, including six executive directors and four independent non-executive directors, ensuring diverse industry backgrounds and expertise[111]. - The chairman and CEO roles are separated, with the current chairman being Zheng Gaoqing since September 2020[111]. - The company ensures equal rights for all shareholders, particularly minority shareholders, in exercising their rights and participating in significant corporate matters[108]. - The governance report confirms that there are no significant differences between the company's governance practices and the regulations set by the China Securities Regulatory Commission[106]. - The company has established a robust internal control system to manage risks and ensure compliance with corporate governance standards[105]. Market and Production Outlook - The company aims to produce 201,700 tons of copper concentrate, 1,775,000 tons of cathode copper, 93 tons of gold, 1,183 tons of silver, and 5 million tons of sulfuric acid in 2022[95]. - Capital expenditure for 2022 is projected to be RMB 5 billion[95]. - The company anticipates a moderate slowdown in demand due to uncertainties in the European economic recovery, while supply remains tight, leading to a slight downward adjustment in copper prices in 2022[93]. - The company is committed to achieving high-quality development and innovation-driven growth through various strategic initiatives[95]. - The company aims to enhance its industry demonstration power by promoting green development and increasing the use of clean energy, with a focus on carbon reduction and resource utilization[97]. Strategic Investments and Acquisitions - The company plans to invest in the construction of a project with an annual production capacity of 100,000 tons of lithium battery copper foil, 220,000 tons of copper rods, and 30,000 tons of casting materials[129]. - The company is exploring investment and acquisition opportunities in copper and related downstream industries to enhance growth potential[96]. - The company is focusing on expanding its market presence and enhancing its product offerings in the copper industry[88]. - The company plans to mitigate product price volatility risks by closely monitoring international market trends and adopting new technologies to improve operational efficiency[100]. Customer and Supplier Relations - The company emphasizes maintaining good relationships with major customers and providing quality products[170]. - The report indicates a stable relationship with major customers during the reporting period[170]. - The company maintains good and stable relationships with major suppliers, promoting growth in related industries[168]. Financial Position and Shareholding - Jiangxi Copper Group holds 1,493,617,610 shares, accounting for 43.13% of the total issued capital[174]. - Central Clearing holds 1,073,524,014 shares, representing approximately 31.00% of the total issued capital[176]. - The company has a public float exceeding 25% as per listing rules, ensuring sufficient public shareholding[184]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 1,530.37 million yuan[189].