On March 21, Shandong Humon Smelting Co.Ltd(002237) ( Shandong Humon Smelting Co.Ltd(002237) ) released the annual report for 2021. During the reporting period, the operating revenue of the company was 41.383 billion yuan, with a year-on-year increase of 14.78%; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 596 million yuan, a year-on-year increase of 28.77%. The steady growth of the company’s performance in 2021 was mainly due to the rise in the price of some products and the enhancement of profitability. At the same time, under the opportunity of Jiangxi Copper Group to build a world-class enterprise with global core competitiveness, the company promoted the optimization of industrial structure and continued to deepen the company’s core competitiveness.
Shandong Humon Smelting Co.Ltd(002237) the comprehensive supporting capacity of precious metal smelting is at the leading level in China, especially in the field of complex mineral processing, maintaining a number of international leading technologies. In the precious metal smelting business, in 2021, the silver output was 757.2 tons, and the silver smelting income reached 4.056 billion yuan, a year-on-year increase of 30.03%. On the basis of adhering to the established strategy and continuously consolidating the main business of gold smelting, the company has gradually reduced its dependence on gold smelting business, and has reduced the revenue of gold business to 35.53% of the total revenue. In 2021, the gold business contributed 14.704 billion yuan of revenue and 39.60 tons of gold output.
The company gives full play to the comprehensive utilization advantages of multi metal recycling resources, relies on rich technology accumulation and advanced production technology, and makes non-ferrous metal smelting the fastest-growing business of the company. In 2021, the revenue of this business increased by 73.62% year-on-year, reaching 13.633 billion yuan, accounting for 32.94% of the total revenue of the company. In addition to electrolytic copper, the smelting income of zinc, antimony, bismuth, selenium and other metals of the company increased significantly, with a year-on-year increase of 46.19%, and the gross profit margin increased by 24.38 percentage points to 40.68%. Due to the high gross profit margin of rare and scattered metals, the profit elasticity of the company was increased.
According to the plan, the company will accelerate the upgrading and transformation of the smelting process, improve the ability of the smelting process to deal with complex materials and the comprehensive recovery level, comprehensively improve the recovery rate of gold, silver and various rare and scattered metals, and choose the opportunity to extend to the downstream gold processing industry. Relying on the existing rare and scattered small metals, we will explore the field of high-end material manufacturing, focus on the production of high-purity materials, produce high-purity arsenic, antimony, bismuth, tellurium and related high-purity compounds, and strive to move towards high-end manufacturing.
Meanwhile, the company’s chemical production (ammonium phosphate and other fertilizers) business revenue increased by 111.88% year-on-year, which is also an important performance growth point of the company; The company firmly adheres to the international business direction and expands its overseas customer base. In 2021, its foreign revenue reached 6.453 billion yuan, with a year-on-year increase of 61.37%. Export has become an important engine for the company’s performance growth. While the operating income and profits of various businesses increased, the company accelerated the speed of asset turnover, and the net cash flow from operating activities increased by 144.74% year-on-year in 2021.
According to the work plan disclosed in the announcement, the core work of the board of directors of the company in 2022 is to promote the commencement and construction of three key projects “complex gold concentrate multi-element comprehensive recovery project”, “Liaoshang gold mine boundary expansion and capacity expansion mining and beneficiation construction project” and “high-purity new material development and industrialization project”. Among them, Liaoshang gold mine’s boundary expansion and capacity expansion mining and beneficiation construction project has obtained the mining Certificate in 2020, and various approval procedures have been obtained successively. The company is actively preparing for the commencement of the project. This project is one of the company’s key projects and the number one project for the company to strengthen and expand the mining sector. After completion, it will lay a solid foundation for the company to improve its profitability in the future.
In order to steadily promote the implementation of investment and financing projects, the company’s financing capacity and investment capacity in 2021: the company successfully obtained AA + credit rating evaluation, successfully issued two ultra short-term financing bonds and one medium-term notes, with a total financing of 1.1 billion yuan and an average financing interest rate of 3.65%, which effectively optimized the company’s debt structure and reduced the financing cost; Compared with 2020, the bank credit line increased by 4.76 billion yuan, and the comprehensive financing interest rate decreased by 0.17%; The acquisition of 20.87% shares of overseas mining companies has provided an important reference for the acquisition of overseas mining companies in the future. (CIS)
