Last night, Zhongjin Lingnan (000060) released its 2019 annual report. During the reporting period, the company achieved revenue of 22.801 billion yuan, a year-on-year increase of 14.21%; net profit attributable to shareholders of listed companies was 852 million yuan, a year-on-year decrease of 7.37%. Affected by the performance news, Zhongjin Lingnan opened high today and oscillated. As of the close, the company's share price was reported at 3.84 yuan, an increase of 1.86%, and the turnover was 132 million yuan. According to the annual report of
, as of December 31, 2019, the net cash flow generated by Zhongjin Lingnan’s operating activities was 2.221 billion yuan, compared with 1.972 billion yuan in the same period last year, a year-on-year increase of 12.66%. The company's profit distribution plan for 2019 is based on the total share capital of 3.570 billion shares, RMB 0.72 (tax included) in cash for every 10 shares, and total cash dividends of 257 million (tax included).
In 2019, Zhongjin Lingnan produced 292,300 tons of lead and zinc concentrates, down 3.91% from the same period last year; sulphur concentrates were 672,800 tons, down 4.69% from the same period last year; concentrates contained 135.94 tons of silver, down from the previous year. An increase of 2.14% over the same period. The total output of smelted products of lead and zinc was 280,200 tons, an increase of 8.02% over the same period last year; sulfuric acid was 231,500 tons, an increase of 2.75% over the same period last year. Processing enterprises produced 15,600 tons of aluminum profiles, a decrease of 16.13% over the same period last year; the total output of aluminum doors, windows and curtain walls was 638,700 square meters, an increase of 19.94% over the same period last year; 12,300 tons of mercury-free zinc powder, a decrease from the same period last year 4.65%; 192 tons of flake zinc powder, down 17.24% over the same period of last year; 936 tons of punched nickel-plated steel strip, an increase of 9.22% over the same period of last year. In terms of gross profit margin, Zhongjin Lingnan's gross profit margin in 2019 was 8.93%, a decrease of 4.26 percentage points from the same period last year. In terms of different industries, the company's lead, zinc and copper mining, smelting and sales gross profit margin was the highest at 26.10%, but it was still 4.66 percentage points lower than the same period last year. The business with the lowest gross profit margin is the non-ferrous metal trading business, with a gross profit margin of only 0.02%.
In addition, as of December 31, 2019, the original book value of Zhongjin Lingnan's goodwill was 141 million yuan, and there was no impairment in that year's goodwill.
Previously, on January 6, Zhongjin Lingnan's application for issuance of convertible bonds was accepted by the China Securities Regulatory Commission. According to the disclosed public issuance of convertible bonds, Zhongjin Lingnan plans to issue no more than 3.8 billion yuan. After deducting related issuance costs, 1.73 billion yuan will be used for the mining and processing project of Dominica Mining Company’s Maimon Mine with an annual output of 2 million tons. 1.410 billion yuan will be used for the green upgrading and transformation project of zinc smelting slag in Danxia Smelter, 160 million yuan will be used for the technical transformation project of Fankou lead-zinc mine mining waste resource utilization, 500 million yuan will be used as supplementary working capital.
, as the major investment project of the Maimeng mine in the convertible bond investment of Zhongjin Lingnan, is expected to produce a total of about 32,000 tons of zinc metal, 26,000 tons of copper, and 890 kg of gold in concentrates produced annually. , About 24 tons of silver. In addition, the mining of Maimon Mine has obtained a domestic license in Dominica. Zhongjin Lingnan will control the operation of Dominica mine assets through its wholly-owned subsidiary in Australia, Periya.
Zhongjin Lingnan stated that the project will greatly extend the service life of Maimon Mine, which is conducive to further enhancing the value of mine resources. After the development project reaches production, it will increase the sustainable profitability of Periya Company and Maimon Mine will also become a medium An important support point for Jinlingnan’s overseas profits is conducive to promoting the development process of polymetallic international companies.
