Company code: Tibet Summit Resources Co.Ltd(600338) company abbreviation: Tibet Summit Resources Co.Ltd(600338) Tibet Summit Resources Co.Ltd(600338)
Summary of annual report 2021
Section I important tips
1. The summary of this annual report is from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plans, investors should go to www.sse com. cn. The website carefully reads the full text of the annual report. 2. The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and completeness of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 3. All directors of the company attend the board meeting. 4 Zhonghua Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The board of directors adopted the profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period. The board of Directors recommended that no cash dividend be distributed to all shareholders, and no share distribution and conversion into share capital should be implemented in the current period. For details of the profit distribution plan, please refer to “profit distribution or provident fund conversion plan” in Section IV “corporate governance” of the report
Section II basic information of the company
1 company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange Tibet Summit Resources Co.Ltd(600338) Tibet Summit Resources Co.Ltd(600338) –
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Hu Handong, Yan Guoqing
Office address: 7 / F, No. 305 Liuying Road, Jing’an District, Shanghai
Tel: 021 ‐ 66284908021 ‐ 66284908
E-mail [email protected]. [email protected].
2. Introduction to the company’s main business in the reporting period
1. Industry situation
(1) Zinc metal
During the reporting period, affected by the supply disturbance caused by the global economic recovery and energy crisis, the international zinc price hit a new high since September 2008. According to the data of the international lead zinc research group (ilzg), in 2021, the global zinc ore supply increased by 4.5% year-on-year, the refined zinc supply increased by 0.6% year-on-year, the refined zinc demand increased by 5.8% year-on-year, and the annual supply shortage was about 192000 tons. In the fourth quarter of 2021, Trafigura and Glencore both announced plans to shut down their smelters in Europe, pushing up zinc prices. According to statistics, the current zinc smelting capacity in Europe is about 2.3 million tons, accounting for about 18% of the global total capacity. The European energy crisis and geopolitics affect the European refined zinc supply, which has a great impact on the global refined zinc supply.
(2) Lead metal
In 2021, the impact of the epidemic on the production of foreign lead mines has basically subsided, the major mining enterprises have basically returned to normal, the projects delayed due to the impact in the early stage will be promoted one after another, and the concentrate output will show an increasing trend. According to the statistics reported by Antaike, the global refined lead production in 2021 was 12.289 million tons, with a year-on-year increase of 3.3%, which has returned to the level of 2019. Global lead consumption in 2021 was 12.212 million tons, an increase of 4.3% over 2020. Among them, lead consumption in countries other than China increased by 6.3% year-on-year. At the same time, the sharp growth of China’s refined lead supply in 2021 has effectively supplemented the shortage of refined lead supply caused by the lagging recovery of overseas supply behind the consumer end and the frequent accidents of overseas smelters, and the global refined lead supply and demand shows a tight balance trend.
(3) Copper metal
During the reporting period, affected by the global economic recovery and limited supply recovery, the international copper price hit a record high of US $4.89/lb (US $10745 / ton). WoodMac data show that in 2021, the supply of refined copper increased by 2.7% year-on-year and the demand increased by 4.1% year-on-year. At the end of 2021, the global dominant copper Inventory (three exchanges + China bonded zone) was only about 340000 tons, which was a very low level in history. The demand for copper for new energy is growing rapidly. According to the report of Citibank, the demand for copper in the field of decarbonization (new energy vehicles, charging piles, photovoltaic and wind power generation) is expected to reach 1.8 million tons in 2021, with a year-on-year increase of 19%, accounting for 7% of the total demand for copper. The global copper supply gap has led to the continuous rise of copper prices.
(4) Silver metal
From the perspective of supply items, the supply of silver mines and renewable supply are still the core supply of silver, accounting for 99% of the total supply of silver. Mine supply declined significantly affected by the epidemic, and then gradually returned to the potential growth level in the era of the epidemic. From the perspective of demand breakdown, industrial demand, investment demand and jewelry demand account for the leading force of silver demand, accounting for 93.28%. Although the industrial demand was impacted by the epidemic, it still maintained a steady increase trend, while the investment demand and jewelry demand continued to increase due to the rising price of silver. The development of photovoltaic and new energy vehicles is expected to increase the demand for silver. Although the probability of unit silver consumption will decrease in the future with process improvement and technological progress, in the global environment of promoting the development of carbon neutral and clean energy, the increase of photovoltaic installed capacity is still the main driving force for the rise of photovoltaic silver demand.
2. Main business
During the reporting period, the company’s main business was mining and beneficiation of non-ferrous metal mines, and began to develop lithium salt lake resources through the holding company.
3. Main products
At present, the company’s main products are lead concentrate (including silver), zinc concentrate and copper concentrate (including silver).
4. Product use
The concentrate products produced by the company are processed into corresponding metal products by downstream smelting enterprises and are widely used in various fields of social economy. Of which:
Metal lead has good ductility and corrosion resistance. It is easy to make excellent alloys with other metals. Metal lead, lead alloys and their compounds are widely used in battery, cable sheath, machinery manufacturing, shipbuilding, light industry, lead oxide, radiation protection and other industries.
Metal zinc has good calendering, wear resistance, corrosion resistance and castability, and has good room temperature mechanical properties. It can be made into excellent alloys with a variety of metals. Zinc oxide is widely used in zinc, zinc alloy, automotive, and other industries. At present, the consumption of non-ferrous metals is second only to copper and aluminum.
Copper metal has excellent conductivity, thermal conductivity, ductility, corrosion resistance, wear resistance and other excellent properties. It is widely used in power, electronics, energy and petrochemical, machinery and metallurgy, transportation, light industry, emerging industries and other fields; In the consumption of non-ferrous metals, it is second only to aluminum.
Metallic silver is one of the common precious metals, which can be used to make jewelry. In the industrial field, it is often used to make highly sensitive physical instrument components, various automation devices, rockets, submarines, computers, nuclear devices and communication systems. A large number of contact points in all these devices are made of silver.
During the reporting period, the company focused on the mining and Beneficiation Production of non-ferrous metal mines, and is promoting the project development of basic lithium salt products in salt lakes.
At present, the company’s main products are lead concentrate (including silver), zinc concentrate and copper concentrate (including silver). In 2021, the company completed 2.6521 million tons of mining, 2.6644 million tons of ore extraction and 2.8493 million tons of beneficiation. 79500 tons of lead concentrate, 139700 tons of zinc concentrate and 7100 tons of copper concentrate were produced. Completed 48100 tons of lead metal, 70600 tons of zinc metal and 18000 tons of copper metal. 3.1 main accounting data and financial indicators of yin3 company in recent three years
Unit: yuan currency: RMB
20212020 compared with 2019 of the previous year
Increase or decrease (%)
Total assets 397543384816377838119607 5.22417837115912
Attributable to listed companies
The net capital of the company’s shareholders is 278716063744209 Guizhou Redstar Developing Co.Ltd(600367) 25 32.98273977373852
Operating income 204862910539113261819985 80.88223429803731
Attributable to listed companies
The net profit of shareholders of the company is 72044549621, 3058429674, 225561, Veken Technology Co.Ltd(600152) 15936, which belongs to the listed company
The net profit of shareholders of the company deducting 7701327615682787302892025556143222333 non recurring profits and losses is generated from operating activities
Net cash flow 8291834423136671146513 126.1197718005676
The weighted average net capital was 301189 1.29, an increase of 28.83 percent and 24.46 percent yield (%)
Basic earnings per share 0.7881 0.03352252.54 0.6565 (yuan / share)
Diluted earnings per share 0.7881 0.03352252.54 0.6565 (yuan / share) 3.2 main accounting data by quarter in the reporting period
Unit: yuan currency: RMB
First quarter second quarter third quarter fourth quarter
(January March) (April June) (July September) (October December)
Operating income 47093168611522824733815064122640154846042146
Net profit attributable to shareholders of listed companies
Run 20402567093213507861522014336124110147835135
Deduction attributable to shareholders of listed companies
Net profit after non recurring profit and loss 20389854448219384 Kairuide Holding Co.Ltd(002072) 160721690513077804596
Net cash flow from operating activities
Amount 176588 Hebei Jinniu Chemical Industry Co.Ltd(600722) 45216321111913018435021607667698
Description of differences between quarterly data and disclosed periodic report data □ applicable √ not applicable
4 shareholders 4.1 total number of ordinary shareholders, total number of preferred shareholders with voting rights restored, total number of shareholders holding special voting shares and top 10 shareholders at the end of the reporting period and the month before the disclosure of the annual report
Unit: shares
As of the end of the reporting period, the total number of common shareholders (households) was 123735
Total number of ordinary shareholders at the end of the previous month before the disclosure date of the annual report (households)
