Investment Rating - The investment rating for the company is "Buy" [1][3][12] Core Views - The company achieved record high performance in 2023, with total revenue reaching 7.399 billion yuan, a year-on-year increase of 38.18%, and net profit attributable to shareholders of 1.031 billion yuan, up 68.74% [1][4] - The mining service business has a competitive advantage, with revenue of 6.607 billion yuan in 2023, a growth of 25.52%, and an increase in gross margin by 1.37 percentage points to 28.95% [1][6] - The company is actively advancing its copper and phosphate projects, with significant production milestones achieved and further growth expected in 2024 [7][8] Summary by Relevant Sections Financial Performance - In 2023, the company reported total revenue of 7.399 billion yuan and net profit of 1.031 billion yuan, with respective growth rates of 38.18% and 68.74% [2][4] - For Q1 2024, the company achieved revenue of 1.973 billion yuan, a year-on-year increase of 33.67%, and net profit of 274 million yuan, up 48.07% [4][6] Mining Service Business - The mining service segment has shown strong growth, with a revenue of 6.607 billion yuan in 2023, reflecting a 25.52% increase, and a gross margin improvement to 28.95% [1][6] - The company has enhanced its project structure, increasing the proportion of overseas projects to 62.96% [4][6] Resource Development Projects - The Dikulushi copper mine produced approximately 9,800 tons of copper concentrate in 2023, with plans for 10,000 tons in 2024 [7][8] - The Lonshi copper mine commenced production ahead of schedule, producing 4,600 tons of cathode copper in 2023, with a target of 20,000 tons in 2024 [7][8] - The phosphate project has successfully reached production targets, with an average P2O5 grade of 32.65%, expected to contribute to future revenue growth [8] Future Projections - The company has adjusted its revenue forecasts for 2024-2026 to 10.216 billion yuan, 12.762 billion yuan, and 14.615 billion yuan, respectively, with net profit projections of 1.770 billion yuan, 2.401 billion yuan, and 2.783 billion yuan [2][9] - The expected annual profit growth rates are 71.7%, 35.6%, and 15.9% for the respective years [9]

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 63.98 CNY, compared to the current price of 52.70 CNY [1]. Core Insights - The company's performance in 2023 met expectations, driven by growth in mining services and resource product sales. The company achieved a net profit of 1.031 billion CNY in 2023, a year-on-year increase of 68.74%, and a net cash flow from operating activities of 1.085 billion CNY, up 13.38% year-on-year [2]. - The mining services segment is progressing steadily, while the resource segment is being developed as a new growth driver. The company reported a revenue of 6.61 billion CNY from mining services in 2023, a 25.52% increase year-on-year [2]. - The company is expanding its mining projects, with significant growth potential. The Dikulushi copper mine optimized its recovery process, and the Lonshi copper mine is expected to reach full production by the end of 2024, with an annual output of approximately 40,000 tons of copper metal [2]. Financial Summary - In 2023, the company achieved total revenue of 7.399 billion CNY, a year-on-year growth of 38.2%. The projected revenues for 2024, 2025, and 2026 are 10.469 billion CNY, 13.256 billion CNY, and 17.328 billion CNY, respectively [3]. - The net profit for 2023 was 1.031 billion CNY, with projections of 1.751 billion CNY for 2024, 2.553 billion CNY for 2025, and 3.153 billion CNY for 2026, reflecting year-on-year growth rates of 69.1%, 69.8%, and 45.8% respectively [3]. - The company’s earnings per share (EPS) for 2023 was 1.67 CNY, with forecasts of 2.84 CNY for 2024, 4.13 CNY for 2025, and 5.11 CNY for 2026 [3].

金诚信矿业管理股份有限公司 2023 年年度股东大会会议资料 金诚信矿业管理股份有限公司 2023年年度股东大会 会议资料 2024年6月7日 金诚信矿业管理股份有限公司 2023 年年度股东大会会议资料 材料目录 | 会议须知 | 2 | | --- | --- | | 会议议程 | 3 | | 会议表决办法 | 6 | | 议案一：关于审议《金诚信矿业管理股份有限公司 2023 年度董事会工作报告（草 | | | 案）》的议案 | 8 | | 议案二：关于审议《金诚信矿业管理股份有限公司 2023 年度监事会工作报告（草 | | | 案）》的议案 | 24 | | 议案三：关于审议《金诚信矿业管理股份有限公司 2023 年度财务决算报告（草 | | | 案）》的议案 | 33 | | 议案四：关于审议《金诚信矿业管理股份有限公司 2023 年度利润分配方案（草 | | | 案）》的议案 | 46 | | 议案五：关于审议《金诚信矿业管理股份有限公司 2023 年年度报告及摘要》的 | | | 议案（草案） | 49 | | 议案六：关于审议《金诚信矿业管理股份有限公司 2023 年度独立董事述职报告 | ...

[Table_MainInfo] 公司研究/有色金属 证券研究报告 金诚信（603979）公司研究报告 2024年04月26日 [Table_InvestInfo] 首次 金诚信：铜业新秀，资源板块有望集中放 投资评级 优于大市 覆盖 量 股票数据 0[4Ta月b2le5_日S收to盘ck价I（nf元o]） 52.70 [Table_Summary] 投资要点： 52周股价波动（元） 28.80-58.95 总股本/流通A股（百万股） 618/618 总市值/流通市值（百万元） 32544/32544  “矿山服务”与“资源开发”双轮驱动。公司在矿山服务板块已形成矿山产 相关研究 业链上下游的综合服务能力，并在此基础上积极向资源开发领域延伸。我们 [Table_ReportInfo] 认为，矿服业务将为公司带来稳定的现金流和安全边际，而随着自有资源的 逐步投产及放量，资源开发板块将进一步增厚公司业绩。 矿服业务稳定增长。我们认为，公司矿服业务的竞争优势在于技术经验和客  市场表现 户资源。技术经验方面，公司具备集工程建设、采矿运营、设计研发、设备 [Table_QuoteInfo] 制造等业务于一体的综合 ...

汇总表的专项审计报告 关于金诚信矿业管理股份有限公司 非经营性资金占用及其他关联资金往来情况 目 录 1、 专项审计报告 2、 附表 委托单位：金诚信矿业管理股份有限公司 审计单位：中汇会计师事务所(特殊普通合伙) 目 录 | 一、非经营性资金占用及其他关联资金往来情况的专项 | | | --- | --- | | 审核说明 | 页 次 1-2 | 二、非经营性资金占用及其他关联资金往来情况汇总表 3-4 中国杭州市钱江新城新业路8号UDC时代大厦A座5-8层、12层、23层 Floors 5–8, 12 and 23, Block A, UDC Times Building, No. 8 Xinye Road, Qianjiang New City, Hangzhou Tel. 0571-88879999 www.zhcpa.cn 关于金诚信矿业管理股份有限公司 非经营性资金占用及其他关联资金往来情况的专项审核说明 中汇会专[2024]5272号 金诚信矿业管理股份有限公司全体股东: 我们接受委托,审计了金诚信矿业管理股份有限公司(以下简称金诚信公 司)2023年度财务报表,并出具了中汇会审[2024]52 ...

金诚信矿业管理股份有限公司 年度募集资金存放与使用情况鉴证报告 中国杭州市钱江新城新业路8号UDC时代大厦A座5-8层、12层、23层 Floors 5~8, 12 and 23, Block A, UDC Times Building, No. 8 Xinye Road, Qianjiang New City, Hangzhou Tel. 0571-88879999 Fax. 0571-88879000 www.zhcpa.cn 目 录 | | 页 次 | | --- | --- | | 一、年度募集资金存放与使用情况鉴证报告 | 1-2 | | 二、金诚信矿业管理股份有限公司关于 2023 年度募集资金 | | | 存放与使用情况的专项报告 | 3-7 | 中国杭州市钱江新城新业路8号UDC时代大厦A座5-8层、12层、23层 Floors 5–8, 12 and 23, Block A, UDC Times Building, No. 8 Xinye Road, Qianjiang New City, Hangzhou Tel. 0571-88879999 www.zhcpa.cn 中汇会鉴[2024] ...

金诚信矿业管理股份有限公司 2023 年度审计报告 中国杭州市钱江新城新业路8号UDC时代大厦A座5-8层、12层、23层 Floors 5–8, 12 and 23. Block A. UDC Times Building, No. 8 Xinye Road, Qianjiang New City, Hangzhou Tel. 0571-88879999 Fax. 0571-88879000 www.zhcpa.cn 您可使用手机"扫一扫" 此码用于证明该审计报告是否由具有执业许可的会计师事 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.com/ 后 当半台 (http://a 19 18 目 录 | | 页 次 | | --- | --- | | 一、审计报告 | 1-6 | | 二、财务报表 | 7-18 | | (一) 合并资产负债表 | 7-8 | | (二) 合并利润表 | 9 | | (三) 合并现金流量表 | 10 | | (四) 合并所有者权益变动表 | 11-12 | | (五) 母公司资产负债表 | 13-14 | | (六) 母公司利润表 | ...

2024 年第一季度报告 单位：元 币种：人民币 1 / 14 证券代码：603979 证券简称：金诚信 转债代码：113615 转债简称：金诚转债 金诚信矿业管理股份有限公司 2024 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人王青海、主管会计工作负责人孟竹宏及会计机构负责人（会计主管人员）咬立鹏保证 季度报告中财务信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | |----------------------------|----------------|-----------------------------------| | 项目 | 本报告期 | 本报告期比上年同期增减变 | | 营业收入 | | 动幅度 (%) 1, ...

Financial Performance - The company's operating revenue for 2023 reached CNY 7,399,214,496.30, representing a 38.18% increase compared to CNY 5,354,859,889.97 in 2022[14]. - Net profit attributable to shareholders for 2023 was CNY 1,031,227,318.67, a 68.74% increase from CNY 611,137,902.21 in 2022[14]. - The net cash flow from operating activities for 2023 was CNY 1,084,971,497.35, reflecting a 13.38% increase compared to CNY 956,900,102.14 in 2022[14]. - Basic earnings per share for 2023 were CNY 1.71, up 67.65% from CNY 1.02 in 2022[15]. - The company's total assets as of the end of 2023 amounted to CNY 13,625,275,257.28, a 20.87% increase from CNY 11,272,303,918.94 in 2022[14]. - The weighted average return on equity for 2023 was 15.44%, an increase of 4.73 percentage points from 10.71% in 2022[15]. - The company reported a total of CNY 12,243,375.19 in government subsidies for 2023, compared to CNY 8,727,019.72 in 2022[19]. - The company achieved an annual revenue of RMB 739,921.45 million, representing a year-on-year growth of 38.18%[23]. - The net profit attributable to shareholders reached RMB 103,122.73 million, an increase of 68.74% compared to the previous year[23]. Dividends and Shareholder Returns - The company plans to distribute cash dividends of RMB 2.00 per 10 shares for the 2023 profit distribution plan, subject to shareholder approval[2]. - The company distributed cash dividends of RMB 7,190.29 million for the 2022 fiscal year, with a ratio of RMB 1.20 per 10 shares[198]. - The proposed cash dividend for the 2023 fiscal year is RMB 2.00 per 10 shares, with an estimated total distribution of RMB 12,042.76 million[199]. Governance and Compliance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[2]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[2]. - The company has not violated decision-making procedures for providing guarantees[2]. - The company has confirmed that there are no significant omissions or misleading statements in the annual report[2]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance compliance[2]. - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and maintaining transparency in shareholder communications[156]. - The company has not faced any penalties from securities regulatory authorities in the past three years[176]. Risk Management - The company has detailed potential risk factors and countermeasures in the management discussion and analysis section of the report[2]. - The company acknowledges potential risks from macroeconomic fluctuations that could impact the mining resource development sector[141]. - The company faces risks related to the estimation of mineral resources and reserves, which could impact project implementation and profitability if actual amounts differ significantly from estimates[150]. - The company is exposed to risks from unforeseen events such as natural disasters and regulatory changes, which could adversely affect project timelines and operational efficiency[154]. - The company has implemented measures to enhance risk management and improve operational resilience, including strengthening safety protocols and financial management[154]. Operational Highlights - The company achieved a total mining supply of 39.33 million tons in 2023, with the deepest completed vertical shaft reaching 1,526 meters and the longest inclined roadway measuring 8,008 meters, ranking among the top in the country[36]. - The company has established a leading position in the mining engineering construction and mining operation management sectors, holding first-level qualifications for general contracting of mining engineering[36]. - The company has undertaken nearly 40 large-scale mining engineering construction and mining operation management projects both domestically and internationally[36]. - The company has expanded its mining resource development business, focusing on copper and phosphate rock, with copper prices experiencing significant fluctuations in 2023 due to supply constraints and strong demand expectations[33]. - The company has established a comprehensive quality control system and has not experienced significant quality disputes with clients during the reporting period[107]. - The company has implemented a robust safety management system, resulting in no major production safety accidents during the reporting period[108]. Technological Advancements - The company implemented an intelligent control system for underground shovels, enhancing operational efficiency and safety[27]. - The company made significant advancements in technology capabilities, including upgrades in qualifications and innovation in processes[28]. - The company has accumulated 4 national-level construction methods, 89 departmental-level construction methods, 18 invention patents, and 173 utility model patents, showcasing its strong technical capabilities[52]. - The company has developed a remote intelligent control system for underground shovels, achieving significant advancements in automation and efficiency[57]. Market Expansion and Strategic Focus - The company has expanded its international operations, establishing a management and technology output model that aligns with international standards[64]. - The company is focusing on integrated operations, enhancing its service capabilities across the mining industry chain[65]. - The company is pursuing international market expansion in mining services, aligning with the global trend of Chinese mining enterprises seeking overseas projects[131]. - The company plans to continue its market expansion through strategic acquisitions and partnerships in the mining sector[115]. - The company is committed to updating its resource data in accordance with the latest national standards for geological exploration[110]. Human Resources and Talent Development - The company has established a comprehensive talent development system, with an average employee tenure exceeding 5 years and a focus on cultivating international talent[56]. - The company has implemented a comprehensive training program focusing on talent development and retention, including online and practical training methods[196]. - The company has developed a competitive talent retention strategy, but faces risks from intense competition for skilled professionals in the mining sector[153]. Future Outlook - The company plans to focus on high-end mining services as the low-end service market shrinks, driven by increasing market entry barriers[130]. - The company’s strategic vision includes becoming a leading planner, builder, and operator of safe, ecological, and intelligent mines, with a dual focus on domestic and international markets[131]. - The total mining supply target for 2024 is set at 4,441.58 thousand tons, an increase from the 2023 actual of 3,933.10 thousand tons[133]. - The company aims to develop 1-2 large new projects in the mining service sector, focusing on high-mechanization projects[135].

根据中国证券监督管理委员会《上市公司独立董事管理办法》《上海证券交 易所上市公司自律监管指引第 1 号——规范运作》等要求，金诚信矿业管理股份 有限公司（以下简称"公司"）董事会，就公司在任独立董事潘帅女士、叶希善 先生、张建良先生的独立性情况进行了评估，现将评估自查情况报告如下： 金诚信矿业管理股份有限公司 董事会关于独立董事独立性自查情况的 专项意见 经公司独立董事自查及董事会核查，除担任本公司独立董事外，公司在任独 立董事及其配偶、父母、子女、主要社会关系未在公司或公司附属企业任职；未 与公司存在重大的持股关系；未在公司控股股东、实际控制人及其附属企业任职； 未在与公司有重大业务往来的单位及其控股股东、实际控制人或其附属企业任职； 与公司及控股股东、实际控制人及其附属企业之间不存在重大业务往来关系或提 供财务、法律、咨询、保荐等服务。 因此，公司董事会认为，公司独立董事不存在可能妨碍其进行独立客观判断 的关系，不存在影响独立董事独立性的情况，符合《上市公司独立董事管理办法》 《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等规定中对独 立董事独立性的相关要求。 金诚信矿业管理股份有限公司董事 ...