Securities code: Shandong Humon Smelting Co.Ltd(002237) securities abbreviation: Shandong Humon Smelting Co.Ltd(002237) Announcement No.: 2022012 Shandong Humon Smelting Co.Ltd(002237) 2021 annual report summary
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
Tips on non-standard audit opinions □ applicable √ not applicable to the profit distribution plan of common shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable whether to convert accumulation fund into share capital □ yes √ no
The company’s profit distribution plan for ordinary shares reviewed and approved by the board of directors is: take 114801440000 as the base, distribute cash dividend of 0.40 yuan (including tax) to all shareholders for every 10 shares, send bonus shares of 0 share (including tax), and do not convert the accumulation fund into share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Shandong Humon Smelting Co.Ltd(002237) stock code Shandong Humon Smelting Co.Ltd(002237)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Xia Xiaobo Xia Xiaobo
Office address: Shuidao Town, Mouping District, Yantai City, Shandong Province
Fax: 05354631176
Tel: 05354631769
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
(I) industry of the company during the reporting period
“C322 precious metal smelting” in “nonferrous metal smelting and calendering processing industry” is traditionally known as gold smelting industry.
1. Development of world gold industry
Gold has both financial and commodity attributes. It is a scarce global strategic resource. From the perspective of commodity attributes, gold jewelry has always been a symbol of social status and wealth; At the same time, because of its excellent chemical, physical and electronic properties, gold is also widely used in electronics, communication, aerospace, chemical industry, medicine and so on. From the perspective of financial attributes, gold, as an important tool for maintaining and increasing the value of assets and avoiding financial risks, plays an irreplaceable role in coping with the financial crisis and ensuring economic security, and occupies an important position in the national asset reserve.
2. Development of China National Gold Group Gold Jewellery Co.Ltd(600916) industry
(1) Resource reserves and distribution
According to the statistics of China National Gold Group Gold Jewellery Co.Ltd(600916) Association, by the end of 2020, the proved resource reserves of gold mines in China were 1472716 tons, a net increase of 596.1 tons compared with 2019, with an increase rate of 4.22%, realizing the growth of China National Gold Group Gold Jewellery Co.Ltd(600916) proved resource reserves for 15 consecutive years China National Gold Group Gold Jewellery Co.Ltd(600916) mineral resources have a low degree of geological exploration, ranking 10th in the global gold reserves China National Gold Group Gold Jewellery Co.Ltd(600916) resources mainly include rock gold, associated gold and placer gold, with uneven regional distribution, of which the eastern region is the main enrichment area. In terms of mine scale, there are few large-scale gold mines in China, and most of them are small and medium-sized. Most of the large-scale gold deposits are of medium and low grade, and the grade of small and medium-sized gold deposits is relatively high, but it changes greatly The overall level of China National Gold Group Gold Jewellery Co.Ltd(600916) exploration is low, and there is a large development prospect in the deep and surrounding of the known gold deposits. According to the data of China National Gold Group Gold Jewellery Co.Ltd(600916) Yearbook 2021, the top ten provinces of China National Gold Group Gold Jewellery Co.Ltd(600916) identified resource reserves in 2020 are Shandong, Gansu, Inner Mongolia, Yunnan, Henan, Xinjiang, Tibet, Anhui, Shaanxi and Jiangxi.
(2) China National Gold Group Gold Jewellery Co.Ltd(600916) output
China National Gold Group Gold Jewellery Co.Ltd(600916) supply is mainly composed of finished gold, recovered gold and imported gold: according to the statistics of China National Gold Group Gold Jewellery Co.Ltd(600916) Association, China produced 479503 tons of finished gold in 2020, a decrease of 20.916 tons compared with 2019, and has remained the first in the world for 14 consecutive years.
(3) China National Gold Group Gold Jewellery Co.Ltd(600916) demand
2020 China National Gold Group Gold Jewellery Co.Ltd(600916) consumption 820.98 tons, down 18.13%. Among them, 490.58 tons were used for jewelry processing, a year-on-year decrease of 27.45%; In the real gold investment, the gold used for gold bars and gold coins was 246.59 tons, with a year-on-year increase of 9.21%; Industrial manufacturing and other gold consumption was 83.81 tons, a year-on-year decrease of 16.81%.
3. Industry position of the company
The company’s comprehensive supporting capacity of precious metal smelting is at the leading level in China, especially in the field of complex ore processing, and maintains a number of international leading technologies. At present, the company has built a number of production process systems, such as matte making, gold capture, high lead extraction and so on. Matte making and gold capture is the core production process of the company. Through continuous independent innovation, the company has successfully broken through the quench dry arsenic collection technology in the oxygen enriched bottom blowing smelting system, developed a refined arsenic trioxide metal arsenic high-purity arsenic production line, integrated the harmless treatment and product reuse of arsenic, and established the humon model of global arsenic treatment.
The company’s mines in Mouping District, Yantai City, Shandong Province mainly include lasigou gold mine, Shangzhuche gold mine, Liaoshang gold mine, hagoushan gold mine, fuludi gold mine, dongdaokou gold mine and other mines. In addition, it also has a holding subsidiary in Qixia City, Shandong Province: Qixia Jinxing Mining Co., Ltd. It has a wholly-owned subsidiary in Jiande City, Zhejiang Province: Hangzhou Jiantong Group Co., Ltd.
After years of R & D and technology accumulation, the company’s production technology has reached the international advanced level and won four first prizes of provincial and ministerial scientific and technological progress and one second prize of national scientific and technological progress. In addition, a number of technical achievements of the company have been granted invention patents by the State Intellectual Property Office, one of which has won the China Patent Excellence Award.
(II) main businesses of the company during the reporting period
1. Main business
The company is mainly engaged in the development of gold mineral resources, precious metal smelting, R & D and production of high-tech materials, international trade and other industries. In recent years, the company’s core technology in precious metal smelting and comprehensive recovery dominated by gold has been gradually strengthened, and after years of technical experience, the production efficiency has been significantly improved. At the same time, on the basis of adhering to the established strategy and continuously consolidating the main business of gold smelting, the company gives full play to the advantages of comprehensive utilization of resources of multi metal recycling, and realizes the comprehensive recovery of precious metals such as gold and silver and valuable elements such as copper, lead, zinc, bismuth, antimony, tellurium and arsenic by relying on rich technological accumulation and advanced production technology.
2. Main products and uses
The company’s main products are gold, silver, electrolytic copper, lead, zinc ingot, sulfuric acid, rare and scattered metals (bismuth, antimony, tellurium, arsenic and selenium), among which the precious metals dominated by gold and silver are the company’s main products. Gold is mainly used for jewelry, industrial and medical purposes, official reserves, private investment and reserves, etc; Silver is mainly used for jewelry, industrial supplies, etc; Electrolytic copper is mainly used in electrical industry, machinery manufacturing, transportation, construction, etc; Lead is mainly used in the manufacture of batteries, lead sectors, metallurgy and chemical raw materials; Rare and dispersed metals (bismuth, antimony, tellurium, arsenic, selenium, etc.) are widely used. Their high-purity products are important raw materials for making semiconductor materials such as gallium arsenide, indium arsenide and gallium antimonide; Sulfuric acid is commonly used in the production of chemical fertilizers, pesticides, gunpowder, dyes, smelting non-ferrous metals, refining oil, metal derusting, desiccant, etc.
3. Business model
The company’s profits mainly come from gold mines and precious metal smelting. Relying on the company’s core technology in precious metal smelting and comprehensive recovery, the company rarely uses its own mine resources for development, and the raw materials for smelting mainly rely on outsourcing. Smelting business is the core profit-making business of the company, and gold and silver are the main gross profit components of the company. Loose metal is an accessory of complex gold concentrate, and its gross profit margin is high, which increases the profit elasticity of the company. During the procurement of raw materials, while purchasing conventional gold concentrate, the company gradually enriched the procurement of complex gold concentrate, nonferrous metal concentrate containing gold, silver and other associated precious metals and materials, expanded the supply source of raw materials by taking advantage of comprehensive resource recovery, and reduced the procurement cost to a certain extent. The smelting of the company is completed by the smelting company, and intermediate products such as gold mud and anode mud are sent to the precious metal refining company to refine and complete the ingots of gold and silver. The final product gold is mainly sold to Shanghai gold exchange for sale.
(1) Procurement mode
The company has a raw material company, which is specially responsible for the procurement of raw materials and has rich Chinese and international procurement channels. In recent years, with the continuous expansion of the company’s scale and the continuous improvement of material demand, in terms of procurement in China, since 2012, the company has gradually changed the original procurement mode of setting up offices in major mineral producing provinces such as gold, silver and copper, and established four trading subsidiaries to ensure the raw material supply of the company’s minerals in China relying on each trading subsidiary. In terms of foreign procurement, the company has humon International Trading Co., Ltd., which is specially responsible for the procurement of overseas raw materials. At present, it has established extensive business contacts in Greece, Turkey, Russia, Peru, Chile, Ecuador and other places. At present, the company’s overseas raw material procurement has changed from relying solely on trader procurement to a combination of trader procurement and mine direct procurement. The company has carried out overseas investigation for many years and actively arranged subsidiaries or offices in Peru, Ecuador, Australia, Zambia, Russia and other countries. The overseas procurement network has begun to take shape. With the preliminary completion of international procurement channel layout, the company will continue to expand the direct procurement scale from overseas mining enterprises in the future, enhance the control ability of raw material channels and further reduce procurement costs.
(2) Production mode
The company’s production links are mainly implemented by various production workshops, branches and subsidiaries. All production units shall organize, control and coordinate various specific activities and resources in the production process according to the production tasks assigned by the company, so as to meet the assessment requirements of the company on cost control, product quantity, quality environment and plan completion rate; At the same time, strengthen the production process control, improve the labor productivity of all staff, analyze the causes of quality, environment and process accidents, and take corrective and preventive measures in time.
The company implements a refined assessment management mode to link the performance of the raw material company with the benefits of the branch in the smelting production link, so as to improve the procurement efficiency and the applicability of raw materials. After purchasing raw materials, they are sent to the batching workshop of each smelting branch for batching and ore feeding. The specific batching proportion is jointly coordinated by each workshop and the company to fully match the process and technical characteristics of each smelting branch.
(3) Sales model
① Precious metal sales
Precious metals include gold and silver, of which gold is sold through the T + D platform of Shanghai Gold Exchange; Silver sells at a fixed price according to the contract by signing a long order sales contract, and prepays all the payment before taking delivery.
② Non ferrous metal sales
The sales mode of non-ferrous metals is mainly divided into two types: local sales and Shanghai point price. Local sales face downstream customers around the region and are sold according to the online price (electrolytic copper according to the Yangtze River non-ferrous metal network and lead according to the Shanghai non-ferrous metal network). The Shanghai point price is mainly based on the change of trend. As long as the Shanghai futures exchange can choose the price point price during the opening period, the traders can hedge by themselves.
③ Sales of other by-products
Sulfuric acid sales refers to signing a sales contract with the customer. The customer handles the purchase certificate, the company handles the transportation certificate, takes delivery and transportation, settles accounts according to the predetermined payment method, and then enters the precursor chemical management information system for reporting. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
By the end of 2021, by the end of 2020, by the end of 2019 compared with the end of last year
reduce
Total assets 19411932567001788803663943 8.52% 1614079419452
Net assets attributable to shareholders of listed companies 781170921821749078275448 4.28% 465817563222
20212020 year-on-year increase or decrease 2019
Operating income 41382878466593605311040767 14.78% 285360775
