Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Stock Code: 03993)
2021 FIRST QUARTERLY FINANCIAL REPORT
The board of directors (the "Board") of China Molybdenum Co., Ltd.* (the "Company" or "CMOC") is pleased to announce the unaudited results of the Company and its subsidiaries (collectively the "Group") prepared in accordance with the Accounting Standards for Business Enterprises of the People's Republic of China for the first quarter ended 31 March 2021. This announcement is made pursuant to Rules 13.09(2) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
- For identification purposes only
- This report was prepared in both Chinese and English versions. Where there is discrepancy between the Chinese and English versions, the Chinese version shall prevail.
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CONTENTS | |
I. IMPORTANT NOTICE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4 |
II. BASIC INFORMATION OF THE COMPANY . . . . . . . . . . . . . . . . . . . | 4 |
III. SIGNIFICANT EVENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 11 |
IV. APPENDIX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 16 |
- 2 -
Abstract:
- Benefiting from the rising prices of copper and cobalt, the Company's performance has been steadily rising. During the reporting period, the Company achieved operating revenue of RMB39.915 billion, up 78% year-on-year; EBITDA of RMB3.306 billion, up 124% year-on-year; and net profit attributable to the parent company of RMB1.007 billion, up 125% year-on-year; all of which were the best single-quarter levels since 2019. During the same period, capital expenditure was RMB684 million, up 37% year-on-year.
- During the reporting period, the production operation of each segment was good, and production was in line with expectations. Operations in DRC achieved copper production of 49,687 tonnes and cobalt production of 3,300 tonnes; molybdenum and tungsten production in China achieved 4,031 tonnes and 2,091 tonnes; Brazil operations produced 1,877 tonnes of niobium and 255.2 thousand tonnes of phosphate; NPM in Australia (based on 80% of equity interests) produced 5,648 tonnes of copper and 4,489 ounces of gold; IXM achieved concentrates sales of 608 thousand tonnes and refined metal sales of 792 thousand tonnes.
- The Company continued to promote cost reduction and efficiency improvement, and achieved significant cost reduction results in the first quarter of 2021. RMB175 million cost reduction was achieved, of which the contribution of the DRC segment was particularly significant, with a total reduction US$16.5 million through measures such as improving recovery rate of copper and reducing administrative costs.
- Continued to increase liquidity reserves and maintained a healthy asset and liability structure. As of the end of first quarter of 2021, the Company's cash and cash equivalents was RMB23.1 billion, and the net interest-bearing debt ratio was further reduced to 23.38%, with sufficient liquidity reserves.
- 3 -
- IMPORTANT NOTICE
- The Board, the supervisory committee, the directors, supervisors and senior management of the Company warrant the truthfulness, accuracy and completeness of the contents set out in this quarterly report, and that it contains no false representation, misleading statement nor material omission, and assume several and joint legal responsibilities.
- All the directors of the Company attended the board meeting to consider the quarterly report.
- Yuan Honglin, the person in charge of the Company, Wu Yiming, the person in charge of accounting affairs and Rong Yinjie, the person responsible for the accounting department, warrant the truthfulness, accuracy and completeness of the financial statements in this quarterly report.
- The first quarterly financial report of the Company is unaudited.
- BASIC INFORMATION OF THE COMPANY 2.1 Key Financial Data
Unit: Yuan | Currency: RMB | ||
Increase/decrease | |||
as at the end | |||
of the reporting | |||
As at the end | As at the | period as | |
of the | end of | compared with | |
Items | reporting period | last year | the end of last year |
(%) | |||
Total assets | 132,339,433,186.68 | 122,441,249,889.87 | 8.08 |
Net assets attributable to the shareholders | |||
of the listed company | 38,656,028,643.53 | 38,891,780,788.15 | -0..61 |
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From the beginning | |||
From the beginning | of last year | Increase/decrease | |
of the year | to the end of the | as compared with | |
to the end of the | reporting period | the same period | |
Items | reporting period | of last year | of last year |
(%) | |||
Net cash flow from operating activities | 2,569,906,910.68 | 5,887,743,222.10 | -56.35 |
Operating revenue | 39,915,601,697.31 | 22,382,525,359.85 | 78.33 |
Net profit attributable to the shareholders of | |||
the listed company | 1,007,464,715.66 | 448,129,593.18 | 124.82 |
Net profit after deduction of non-recurring | |||
profits or losses attributable to the | |||
shareholders of the listed company | 503,258,262.86 | 209,663,660.36 | 140.03 |
Weighted average rate of return on net | increased by 1.50 | ||
assets (%) | 2.60 | 1.10 | percentage points |
Basic earnings per share | |||
(RMB Yuan/Share) | 0.047 | 0.021 | 123.81 |
Diluted EPS (RMB Yuan/Share) | N/A | N/A | N/A |
- 5 -
Items and amounts for non-recurring profits or losses
Unit: Yuan Currency: RMB | |||
Amount for | |||
Items | the period | Explanations | |
Profits or losses from disposal of non-current assets | -51,346.39 | ||
Government grants included in profit and loss for the | 8,358,312.77 | Including subsidies for low- | |
period, except for those closely relevant to the | grade scheelite project of | ||
Company's normal business and in compliance | RMB2 million | ||
with national policies and regulations and granted | |||
continuously according to certain standardized | |||
amounts or quotas | |||
Investment gains arising from changes in fair value | -1,437,905,030.53 | Including changes in fair | |
and disposal of held-for-trading financial assets, | value of derivate financial | ||
derivative financial assets, held-for-trading | instruments of metal trading | ||
financial liabilities, derivative financial liabilities | business of IXM amounting | ||
and other non-current financial assets, except for | to RMB-1,571 million | ||
those effectively hedged associated with normal | |||
business operations of the Company | |||
Other losses in changes of fair value | -2,488,064.92 | ||
Gains or losses in changes of fair value of assets and | 1,975,217,793.31 | ||
liabilities including trading inventories measured at | |||
fair value of IXM's metal trading business | |||
Other non-operating income and expenses other than | -4,577.48 | ||
the above items | |||
Effects of non-controlling interests (after tax) | -2,386.67 | ||
Income tax effects | -38,918,247.29 | ||
Total | 504,206,452.80 | ||
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2.2 Table showing total number of shareholders, shareholdings of top 10 shareholders and top 10 holders of tradable shares (or shareholders not subject to trading moratorium) as of the end of the reporting period
Unit: 0'000 Shares | ||||||
Total number of shareholders (shareholder) | 440,555 | |||||
Top 10 shareholders | ||||||
Number | Subject to pledge or | |||||
Number of | of shares | moratorium | ||||
shares held | Percentage | held with | ||||
Name of shareholders | as at the end | of | selling | Status of | Nature of | |
(full name) | of the period | shareholding | restrictions | shares | Number | shareholders |
(A shares/ | ||||||
H shares) | (%) | |||||
Cathay Fortune Corporation | 533,322.00 | 24.69 | 0 | Nil | 0 | Domestic non- |
(鴻商產業控股 | (A shares | state owned legal | ||||
集團有限公司) | & H shares) | person | ||||
Luoyang Mining Group Co., | 532,978.04 | 24.68 | 0 | Nil | 0 | State-owned legal |
Ltd. (洛陽礦業集團 | (A shares) | person | ||||
有限公司) | ||||||
HKSCC NOMINEES | 359,229.43 | 16.63 | 0 | Unknown | 0 | Foreign legal person |
LIMITED (香港中央 | (H shares) | |||||
結算(代理人)有限 | ||||||
公司) | ||||||
Jianxin Fund - Industrial | 63,191.70 | 2.93 | 0 | Nil | 0 | Unknown |
and Commercial Bank | (A shares) | |||||
of China - Shaanxi | ||||||
Province International | ||||||
Trust - Shan Guotou • | ||||||
Jinyu No. 6 Directional | ||||||
Investment Collection | ||||||
Fund Trust Plan (建信 | ||||||
基金-工商銀行-陝 | ||||||
西省國際信託-陝 | ||||||
國投• 金玉6號定向 | ||||||
投資集合資金信託 | ||||||
計劃) | ||||||
Hong Kong Securities | 55,292.88 | 2.56 | 0 | Nil | 0 | Foreign legal person |
Clearing Company Ltd. | (A shares) | |||||
(香港中央結算有限 | ||||||
公司) |
- 7 -
Number | Subject to pledge or | |||||
Number of | of shares | moratorium | ||||
shares held | Percentage | held with | ||||
as at the end | of | selling | Status of | Nature of | ||
of the period | shareholding | restrictions | shares | Number | shareholders | |
(A shares/ | ||||||
H shares) | (%) | |||||
Minsheng Bank Fund | 35,194.25 | 1.63 | 0 | Nil | 0 | Unknown |
- Bank of Ningbo | (A shares) | |||||
-Jiaxing Minliu | ||||||
Investment Partnership | ||||||
(Limited Partnership) | ||||||
*(民生加銀基金-寧 | ||||||
波銀行-嘉興民琉 | ||||||
投資合夥企業(有限 | ||||||
合夥)) | ||||||
China Structural Reform | 34,375.27 | 1.59 | 0 | Nil | 0 | State-owned legal |
Fund Corporation | (A shares) | person | ||||
Limited (中國國有 | ||||||
企業結構調整基 | ||||||
金股份有限公司) | ||||||
Ningbo Shanshan Venture | 22,861.51 | 1.06 | 0 | Pledge | 15,000 | Domestic non- |
Capital Co., Ltd. | (A shares) | state owned legal | ||||
(寧波杉杉創業投 | person | |||||
資有限公司) | ||||||
Central Huijin Asset | 6,424.29 | 0.30 | 0 | Nil | 0 | State-owned legal |
Management Limited | (A shares) | person | ||||
(中央匯金資產管 | ||||||
6,236.62 | 0.29 | 0 | Nil | 0 | Unknown | |
(A shares) |
- 8 -
Top 10 shareholders not subject to trading moratorium
Number of | |||
tradable | |||
shares not | |||
subject to | |||
Name of shareholders | trading | Types and quantity of shares | |
(full name) | moratorium | Types | Quantity |
Cathay Fortune | 533,322.00 | RMB-denominated | 533,322.00 |
Corporation ( 鴻 商 產 | ordinary shares (A | ||
業 控 股 集 團 有 限 公 | shares) and overseas | ||
司) | listed foreign- | ||
invested shares (H | |||
shares) | |||
Luoyang Mining Group | 532,978.04 | RMB-denominated | 532,978.04 |
Co., Ltd. ( 洛 陽 礦 業 | ordinary shares | ||
集 團 有 限 公 司) | (A shares) | ||
HKSCC NOMINEES | 359,229.43 | Overseas listed foreign- | 359,229.43 |
LIMITED ( 香 港 中 央 | invested shares (H | ||
結 算(代 理 人)有 限 | shares) | ||
公 司) | |||
Jianxin Fund - Industrial | 63,191.70 | RMB-denominated | 63,191.70 |
and Commercial Bank | ordinary shares | ||
of China - Shaanxi | (A shares) | ||
Province International | |||
Trust - Shan Guotou • | |||
Jinyu No. 6 Directional | |||
Investment Collection | |||
Fund Trust Plan ( 建信 | |||
基 金-工 商 銀 行- | |||
陝 西 省 國 際 信 託- | |||
陝 國 投 • 金 玉6 號 定 | |||
向 投 資 集 合 資 金 信 | |||
託 計 劃) | |||
Hong Kong Securities | 55,292.88 | RMB-denominated | 55,292.88 |
Clearing Company | ordinary shares | ||
Ltd.( 香 港 中 央 結 算 | (A shares) | ||
有 限 公 司) |
- 9 -
Number of | |||
tradable | |||
shares not | |||
subject to | |||
Name of shareholders | trading | Types and quantity of shares | |
(full name) | moratorium | Types | Quantity |
Minsheng Bank Fund | 35,194.25 | RMB-denominated | 35,194.25 |
- Bank of Ningbo | ordinary shares | ||
-Jiaxing Minliu | (A shares) | ||
Investment Partnership | |||
(Limited Partnership) | |||
( 民 生 加 銀 基 金- 寧 | |||
波 銀 行- 嘉 興 民 琉 | |||
投 資 合 夥 企 業(有 | |||
限 合 夥)) | |||
China Structural Reform | 34,375.27 | RMB-denominated | 34,375.27 |
Fund Corporation | ordinary shares | ||
Limited ( 中 國 國 有 | (A shares) | ||
企 業 結 構 調 整 基 金 | |||
股 份 有 限 公 司) | |||
Ningbo Shanshan | 22,861.51 | RMB-denominated | 22,861.51 |
Venture Capital Co., | ordinary shares | ||
Ltd.( 寧 波 杉 杉 創 業 | (A shares) | ||
投 資 有 限 公 司) | |||
Central Huijin Asset | 6,424.29 | RMB-denominated | 6,424.29 |
Management Limited | ordinary shares | ||
( 中 央 匯 金 資 產 管 | (A shares) | ||
理 有 限 責 任 公 司) | |||
Abu Dhabi Investment | 6,236.62 | RMB-denominated | 6,236.62 |
Authority ( 阿 布 達 比 | ordinary shares | ||
投 資 局) | (A shares) |
Explanation of the aforesaid shareholders' related relations or concerted action
Cathay Fortune International Company Limited ( 鴻 商 產 業 國 際 有 限 公 司) and Cathay Fortune Investment Limited ( 鴻 商 投 資 有 限 公司),which are wholly-ownedsubsidiaries of Cathay Fortune Corporation ( 鴻商產業控股集 團有限公司), hold 303 million H shares of the
Company, which were registered under HKSCC NOMINEES LIMITED ( 香港中央結算(代理
人)有 限 公 司). Cathay Fortune Corporation, which holds a total of 5,333.22 million shares of the Company, accounting for 24.69% of the shareholding, is the controlling shareholder of the Company.
- 10 -
-
SIGNIFICANT EVENTS
3.1 Particulars of and reasons for material changes in major accounting items and financial indicators of the Company
3.1.1 Items in Balance Sheet
Unit: Yuan | Currency: RMB | ||||
Increase/ | |||||
Items | 31 March 2021 31 December 2020 | Decrease | Notes | ||
Cash and bank balances | 23,082,465,227.80 | 16,947,648,080.87 | 36.20% | The increase in cash and bank | |
balances was mainly due to the | |||||
increase in net cash inflow of | |||||
the mining business and the | |||||
increase in liquidity reserve | |||||
Held-for-trading financial | 10,145,779,596.26 | 7,435,128,840.50 | 36.46% | The increase in held-for-trading | |
assets | financial assets was mainly | ||||
due to the increase of account | |||||
receivables of basic metal | |||||
trading business which is | |||||
designated as held-for-trading | |||||
financial assets following the | |||||
rising prices of the commodities | |||||
Short-term borrowings | 28,927,842,277.74 | 20,464,481,097.49 | 41.36% | The increase in short-term loan | |
was mainly due to the increase | |||||
of the borrowing during the | |||||
period | |||||
Held-for-trading financial | 8,074,831,605.64 | 4,291,950,709.21 | 88.14% | The increase in held-for-trading | |
liabilities | financial liabilities was mainly | ||||
due to the increase of gold lease |
business and account payables of metal trading business which is designated as held-for-trading financial liabilities
- 11 -
Increase/ | ||||
Items | 31 March 2021 31 December 2020 | Decrease | Notes | |
Taxes payable | 1,689,914,186.50 | 845,217,960.37 | 99.94% | The increase in tax payables was |
mainly due to the increase of | ||||
income tax payables of copper | ||||
and cobalt business | ||||
Non-current liabilities due | 3,342,254,884.23 | 5,329,646,086.38 | -37.29% | The decrease in non-current |
within one year | liabilities due within one year | |||
was mainly due to the repayment | ||||
of medium-term notes during | ||||
the period | ||||
Other current liabilities | 179,443,628.68 | 2,159,431,822.36 | -91.69% | The decrease in other current |
liabilities was mainly due to the | ||||
repayment of super short-term | ||||
commercial paper during the | ||||
period | ||||
Other comprehensive | -4,829,091,457.28 | -3,585,690,161.76 | -34.68% | The difference was mainly due to |
income | the impact of cash flow hedge | |||
reserves |
- 12 -
3.1.2 Items in Income Statement | |||||
Unit: Yuan | Currency: RMB | ||||
January to | January to | Increase/ | |||
Items | March 2021 | March 2020 | decrease | Notes | |
Operating income | 39,915,601,697.31 | 22,382,525,359.85 | 78.33% | The increase in operating income was | |
mainly due to the rising copper | |||||
and cobalt prices and the growth in | |||||
basic metal trading business scale | |||||
during the period | |||||
Operating costs | 35,703,105,093.64 | 23,537,038,499.92 | 51.69% | The increase in operating costs was | |
mainly due to the growth in basic | |||||
metal trading business scale during | |||||
the period | |||||
Financial expenses | 239,840,639.29 | 367,271,181.67 | -34.70% | The increase in finance expenses | |
was mainly due to the increase of | |||||
exchange differences caused by the | |||||
exchange rate fluctuation during the | |||||
period | |||||
Investment income | 9,973,927.84 | 132,138,573.86 | -92.45% | The decrease in investment income | |
was mainly due to the decrease of | |||||
investment income on disposal of | |||||
other non-current financial assets | |||||
during the period | |||||
Gains from changes in fair | -1,441,896,007.07 | 2,194,008,739.08 | -165.72% | The increase in losses from changes | |
value | in fair value was mainly due to the | ||||
increase of losses from changes in | |||||
fair value of derivative financial | |||||
instruments during the period | |||||
Losses from assets | -8,030,049.33 | -25,248,192.70 | 68.20% | The decrease in losses from assets | |
impairment | impairment was mainly due to | ||||
decrease of losses on decline in | |||||
value of inventories during the | |||||
period | |||||
Income tax expenses | 663,453,546.96 | -283,734,727.27 | 333.83% | The increase in income tax expenses | |
was mainly due to the significant |
increase of the profits from copper and cobalt business during the period
- 13 -
3.1.3 Items in Cash Flow Statement | |||||
Unit: Yuan | Currency: RMB | ||||
January to | January to | Increase/ | |||
Items | March 2021 | March 2020 | decrease | Notes | |
Net cash flow from | 2,569,906,910.68 | 5,887,743,222.10 | -56.35% | The net operating cash inflow from | |
operating activities | the basic metal trading business | ||||
decreased by RMB3.8 billion | |||||
during the period | |||||
Net cash flow from | -4,419,778,719.54 | -7,074,523,037.94 | 37.53% | The increase in the net cash flow | |
investing activities | from investing activities was | ||||
mainly due to the decrease of | |||||
structured deposits as compared | |||||
to the same period last year | |||||
Net cash flow from | 5,682,044,491.04 | 5,529,037,102.64 | 2.77% | Remain stable | |
financing activities |
- 14 -
3.1.4 Output of Major Products | |||||
Production | Sales | ||||
volume increase/ | volume increase/ | ||||
decrease for the | decrease for the | ||||
reporting period | reporting period | ||||
as compared | as compared | ||||
Production | Sales | with the same | with the same | ||
Principal products | Unit | volume | volume | period last year | period last year |
(%) | (%) | ||||
Metal exploration and processing (Note 1) | |||||
Molybdenum (Note 2) | Tonnes | 4,031 | 3,969 | 14.53 | 14.41 |
Tungsten | Tonnes | 2,091 | 2,041 | -11.20 | 14.50 |
Niobium | Tonnes | 1,877 | 1,759 | -21.64 | -23.75 |
Phosphate(HA+LA) | Tonnes | 255,166 | 286,127 | -11.29 | 39.10 |
Copper (TFM) | Tonnes | 49,687 | 46,612 | 16.38 | 19.10 |
Cobalt | Tonnes | 3,300 | 3,794 | 1.74 | -28.87 |
Copper (80% equity interest of | |||||
NPM) | Tonnes | 5,648 | 4,498 | -20.42 | -7.02 |
Gold (80% equity interest of NPM) | Ounces | 4,489 | 3,508 | -18.85 | -5.18 |
Purchase | Sales | ||||
volume increase/ | volume increase/ | ||||
decrease for the | decrease for the | ||||
reporting period | reporting period | ||||
as compared | as compared | ||||
Purchase | Sales | with the same | with the same | ||
Unit | volume | volume | period last year | period last year |
Metal trading
Mineral metals Refined metals
(Note 3)
(Note 4)
Tonnes | 621,000 | 608,000 | -9.28 | 16.21 |
Tonnes | 836,000 | 791,999 | 28.85 | 26.82 |
Note 1: Data relating to production volume, sales volume in the mining and processing stage of the mines is the data of each mine.
Note 2: Including joint venture Luoyang Fuchuan Mining Co, Ltd.
Note 3: The primary products of metal minerals, mainly are the concentrates.
Note 4: The smelting of metal minerals and chemical products.
- 15 -
IV. APPENDIX
4.1 Financial statements
CONSOLIDATED BALANCE SHEET 31 March 2021
Unit: Yuan Currency: RMB Unaudited | |||||
Items | 31 March 2021 | 31 December 2020 | |||
Current assets: | 23,082,465,227.80 | ||||
Cash and bank balances | 16,947,648,080.87 | ||||
Held-for-trading financial assets | 10,145,779,596.26 | 7,435,128,840.50 | |||
Derivative financial assets | 1,937,638,345.96 | 2,060,111,110.42 | |||
Accounts receivable | 901,664,103.11 | 702,193,713.91 | |||
Financing receivables | 459,502,620.18 | 405,697,607.38 | |||
Prepayments | 1,071,799,698.01 | 1,405,838,288.25 | |||
Other receivables | 1,956,840,370.74 | 1,676,752,484.31 | |||
Including: Interests receivable | 430,070,665.77 | 344,628,170.18 | |||
Inventories | 22,889,413,875.00 | 21,170,188,531.54 | |||
Other current assets | 4,546,552,372.76 | 5,436,087,014.38 | |||
Total current assets | 66,991,656,209.82 | 57,239,645,671.56 | |||
Non-current assets: | |||||
1,364,993,319.66 | |||||
Long-term equity investments | 1,348,252,898.68 | ||||
Other investments in equity instruments | 86,215,150.08 | 86,214,350.23 | |||
Other non-current financial assets | 4,019,510,942.80 | 4,678,191,536.17 | |||
Fixed assets | 23,032,647,681.56 | 23,328,330,597.04 | |||
Construction in progress | 4,310,229,926.21 | 3,958,981,388.37 | |||
Right-of-use assets | 541,766,074.20 | 487,786,129.11 | |||
Intangible assets | 21,258,407,848.65 | 21,511,518,662.57 | |||
Long-term inventories | 6,022,951,645.34 | 5,845,918,877.35 | |||
Goodwill | 399,083,185.52 | 396,265,256.07 | |||
Long-term prepaid expenses | 119,930,694.33 | 127,533,613.45 | |||
Deferred tax assets | 832,278,895.38 | 497,166,341.93 | |||
Other non-current assets | 3,359,761,613.13 | 2,935,444,567.34 | |||
Total non-current assets | 65,347,776,976.86 | 65,201,604,218.31 | |||
Total assets | 132,339,433,186.68 | 122,441,249,889.87 | |||
- 16 -
Items | 31 March 2021 | 31 December 2020 | |
Current liabilities: | 28,927,842,277.74 | ||
Short-term borrowings | 20,464,481,097.49 | ||
Held-for-trading financial liabilities | 8,074,831,605.64 | 4,291,950,709.21 | |
Derivative financial liabilities | 4,589,998,794.81 | 5,021,779,572.93 | |
Notes payable | 729,192,440.19 | 627,937,567.02 | |
Accounts payable | 940,243,845.74 | 876,914,865.30 | |
Contract liabilities | 476,068,929.81 | 371,984,342.17 | |
Employee benefits payable | 731,737,294.07 | 769,350,564.51 | |
Taxes payable | 1,689,914,186.50 | 845,217,960.37 | |
Other payables | 1,503,274,867.14 | 1,599,240,517.18 | |
Including: Interests payable | 144,339,411.59 | 222,893,031.58 | |
Dividends payable | 27,885,796.67 | 27,885,796.67 | |
Non-current liabilities due within one year | 3,342,254,884.23 | 5,329,646,086.38 | |
Other current liabilities | 179,443,628.68 | 2,159,431,822.36 | |
Total current liabilities | 51,184,802,754.55 | 42,357,935,104.92 | |
Non-current liabilities: | |||
16,669,108,724.06 | |||
Long-term borrowings | 15,360,372,820.17 | ||
Bonds payable | 3,642,825,000.00 | 3,631,225,000.00 | |
Non-current derivative financial liabilities | 391,276,700.24 | 417,159,248.94 | |
Lease liabilities | 315,773,877.09 | 247,794,476.14 | |
Long-term employee benefits payable | 334,860,445.95 | 323,797,716.11 | |
Provisions | 2,403,648,489.84 | 2,750,507,412.49 | |
Deferred income | 58,734,869.71 | 60,587,483.62 | |
Deferred tax liabilities | 6,222,394,134.54 | 6,269,305,883.30 | |
Other non-current liabilities | 3,741,232,302.22 | 3,687,709,740.77 | |
Total non-current liabilities | 33,779,854,543.65 | 32,748,459,781.54 | |
Total liabilities | 84,964,657,298.20 | 75,106,394,886.46 | |
- 17 -
Items | 31 March 2021 | 31 December 2020 | |
Shareholders' equity (or equity interest): | 4,319,848,116.60 | ||
Paid-in capital (or share capital) | 4,319,848,116.60 | ||
Capital reserve | 27,582,794,983.23 | 27,582,794,983.23 | |
Less: Treasury shares | 193,840,466.48 | 193,840,466.48 | |
Other comprehensive income | -4,829,091,457.28 | -3,585,690,161.76 | |
Special reserve | 415,334.30 | 230,899.06 | |
Surplus reserve | 1,295,599,051.54 | 1,295,599,051.54 | |
Retained profits | 10,480,303,081.62 | 9,472,838,365.96 | |
Total equity attributable to the shareholders of | 38,656,028,643.53 | ||
the parent company (or equity interest) | 38,891,780,788.15 | ||
Minority interests | 8,718,747,244.95 | 8,443,074,215.26 | |
Total shareholders' equity (or equity interest) | 47,374,775,888.48 | 47,334,855,003.41 | |
Total liabilities and shareholders' equity (or | |||
equity interest) | 132,339,433,186.68 | 122,441,249,889.87 | |
- 18 -
BALANCE SHEET OF THE COMPANY
January to March 2021
Unit: Yuan Currency: RMB Unaudited | |||||
Items | 31 March 2021 | 31 December 2020 | |||
Current assets: | |||||
Cash and bank balances | 11,839,959,621.01 | 7,045,029,428.45 | |||
Held-for-trading financial assets | 702,017,934.73 | 200,032,876.71 | |||
Accounts receivable | 744,106,554.33 | 365,342,418.35 | |||
Financing receivables | 61,333,748.03 | 7,966,803.02 | |||
Prepayments | 164,906,003.90 | 143,016,792.20 | |||
Other receivables | 2,728,688,376.52 | 3,682,649,191.28 | |||
Including: Interests receivable | 527,113,303.21 | 468,074,888.87 | |||
Dividends receivable | 44,006,084.08 | 44,006,084.08 | |||
Inventories | 181,946,784.57 | 199,847,211.21 | |||
Other current assets | 78,781,521.21 | 80,818,294.02 | |||
Total current assets | 16,501,740,544.30 | 11,724,703,015.24 | |||
Non-current assets: | |||||
Long-term equity investments | 31,891,514,589.58 | 31,912,290,109.90 | |||
Other non-current financial assets | 582,279,860.26 | 580,980,901.35 | |||
Fixed assets | 1,771,312,529.61 | 1,640,559,215.13 | |||
Construction in progress | 307,898,448.71 | 268,937,597.32 | |||
Intangible assets | 300,742,398.69 | 282,262,342.23 | |||
Long-term prepaid expenses | 124,427,687.23 | 132,147,350.14 | |||
Deferred tax assets | 186,170,415.65 | 116,038,320.48 | |||
Other non-current assets | 77,089,457.11 | 77,089,457.11 | |||
Total non-current assets | 35,241,435,386.84 | 35,010,305,293.66 | |||
Total assets | 51,743,175,931.14 | 46,735,008,308.90 | |||
- 19 -
Items | 31 March 2021 | 31 December 2020 | |
Current liabilities: | |||
Short-term borrowings | 5,951,408,000.00 | 2,195,747,000.00 | |
Held-for-trading financial liabilities | 1,777,825,398.24 | 449,732,550.75 | |
Derivative financial liabilities | 783,921,939.90 | 449,661,924.05 | |
Notes payable | 128,816,208.39 | 122,572,692.44 | |
Accounts payable | 165,931,062.75 | 152,707,814.98 | |
Contract liabilities | 695,524,945.79 | 169,168,094.52 | |
Employee benefits payable | 57,540,844.18 | 92,673,541.26 | |
Taxes payable | 57,254,253.10 | 10,422,432.90 | |
Other payables | 3,624,686,128.88 | 2,162,049,869.58 | |
Including: Interests payable | 81,348,398.77 | 129,344,304.05 | |
Non-current liabilities due within one year | 40,200,000.00 | 2,000,000,000.00 | |
Other current liabilities | 158,853,052.72 | 2,101,491,643.61 | |
Total current liabilities | 13,441,961,833.95 | 9,906,227,564.09 | |
Non-current liabilities: | |||
Long-term borrowings | 1,824,800,000.00 | 200,000,000.00 | |
Bonds payable | 2,000,000,000.00 | 2,000,000,000.00 | |
Non-current derivative financial liabilities | 391,276,700.24 | 406,801,357.57 | |
Provisions | 47,570,371.67 | 47,570,371.67 | |
Deferred income | 57,416,536.40 | 18,402,410.30 | |
Other non-current liabilities | 165,364,319.14 | 165,364,319.14 | |
Total non-current liabilities | 4,486,427,927.45 | 2,838,138,458.68 | |
Total liabilities | 17,928,389,761.40 | 12,744,366,022.77 | |
Shareholders' equity (or equity interest): | |||
Paid-in capital (Share capital) | 4,319,848,116.60 | 4,319,848,116.60 | |
Capital reserve | 27,633,234,087.22 | 27,633,234,087.22 | |
Less: Treasury shares | 193,840,466.48 | 193,840,466.48 | |
Special reserve | 222,426.55 | 230,899.06 | |
Surplus reserve | 1,305,892,188.78 | 1,295,599,051.54 | |
Retained profits | 749,429,817.07 | 935,570,598.19 | |
Total shareholders' equity (or equity interest) | 33,814,786,169.74 | 33,990,642,286.13 | |
Total liabilities and shareholders' equity (or | |||
equity interest) | 51,743,175,931.14 | 46,735,008,308.90 | |
- 20 -
CONSOLIDATED INCOME STATEMENT
January to March 2021
Unit: Yuan Currency: RMB Unaudited
January to | January to | ||
Items | March 2021 | March 2020 | |
I. Total operating income | 39,915,601,697.31 | 22,382,525,359.85 | |
Including: Operating income | 39,915,601,697.31 | 22,382,525,359.85 | |
II. Total operating costs | 36,596,220,236.00 | 24,546,358,007.86 | |
Including: Operating costs | 35,703,105,093.64 | 23,537,038,499.92 | |
Taxes and levies | 246,353,223.16 | 265,580,021.71 | |
Selling expenses | 20,243,639.39 | 23,389,606.80 | |
Administrative expenses | 366,277,502.32 | 333,822,373.26 | |
Research and development expenses | 20,400,138.20 | 19,256,324.50 | |
Financial expenses | 239,840,639.29 | 367,271,181.67 | |
Including: Interest expenses | 436,335,185.43 | 459,960,310.22 | |
Interest income | 173,359,004.59 | 209,528,094.38 | |
Add: Other income | 8,358,312.77 | 2,092,412.10 | |
Investment income | |||
(losses are indicated by "-") | 9,973,927.84 | 132,138,573.86 | |
Including: Income from investments in | |||
associates and joint ventures | 8,471,016.24 | 1,413,710.28 | |
Gains from changes in fair value | |||
(losses are indicated by "-") | -1,441,896,007.07 | 2,194,008,739.08 | |
Losses from credit impairment | |||
(losses are indicated by "-") | 545,823.44 | -151,760.94 | |
Losses from assets impairment | |||
(losses are indicated by "-") | -8,030,049.33 | -25,248,192.70 | |
Gains from disposal of assets | |||
(losses are indicated by "-") | -51,346.39 | -20,142.33 | |
III. Operating profit (loss is indicated by "-") | 1,888,282,122.57 | 138,986,981.06 | |
Add: Non-operating income | 4,672,874.77 | 1,595,265.77 | |
Less: Non-operating expenses | 4,677,452.24 | 3,928,398.21 | |
IV. Total profit (loss is indicated by "-") | 1,888,277,545.10 | 136,653,848.62 | |
Less: Income tax expenses | 663,453,546.96 | -283,734,727.27 | |
- 21 -
January to | January to | |||
Items | March 2021 | March 2020 | ||
V. Net profit (loss is indicated by "-") | 1,224,823,998.14 | 420,388,575.89 | ||
(I) | Classified by business continuity | |||
1. Net profit from continuing operations | ||||
(loss is indicated by "-") | 1,224,823,998.14 | 420,388,575.89 | ||
(II) | Classified by ownership: | |||
1. Net profit attributable to | ||||
owners of the parent company | ||||
(loss is indicated by "-") | 1,007,464,715.66 | 448,129,593.18 | ||
2. Net profit attributable to minority | ||||
interests (loss is indicated by "-") | 217,359,282.48 | -27,741,017.29 | ||
VI. Other comprehensive income, net of tax | -1,185,288,821.52 | -317,138,622.02 | ||
Other comprehensive income attributable to | ||||
owners of the parent company, net of tax | -1,243,401,295.52 | -442,369,002.15 | ||
(I) | Other comprehensive income that will | |||
not be reclassified to profit or loss | 0.00 | -16,511,875.24 | ||
1. Remeasurement of changes in defined | ||||
benefit plans | 0.00 | -16,511,875.24 | ||
(II) | Other comprehensive income that may be | |||
reclassified subsequently to profit or loss | -1,243,401,295.52 | -425,857,126.91 | ||
1. Cash flow hedges reserve | -1,493,020,852.41 | -671,281,398.41 | ||
2. Foreign exchange difference from | ||||
translation of financial statements | 249,619,556.89 | 245,424,271.50 | ||
Other comprehensive income | ||||
attributable to minority interests, | ||||
net of tax | 58,112,474.00 | 125,230,380.13 | ||
VII. Total comprehensive income | 39,535,176.62 | 103,249,953.87 | ||
Total comprehensive income attributable to | ||||
shareholders of the parent company | -235,936,579.86 | 5,760,591.03 | ||
Total comprehensive income attributable to | ||||
minority interests | 275,471,756.48 | 97,489,362.84 | ||
VIII. Earnings per share: | ||||
(I) | Basic earnings per share (RMB Yuan/Share) | 0.047 | 0.021 | |
(II) | Diluted earnings per share (RMB Yuan/Share) | N/A | N/A | |
- 22 -
INCOME STATEMENT OF THE COMPANY
January to March 2021
Unit: Yuan Currency: RMB Unaudited
January to | January to | ||
Items | March 2021 | March 2020 | |
I. Operating revenue | 895,930,208.12 | 821,183,302.84 | |
Less: Operating costs | 523,991,226.17 | 390,755,955.05 | |
Taxes and levies | 36,703,359.38 | 59,811,794.79 | |
Selling expenses | 0.00 | 8,135.31 | |
Administrative expenses | 68,974,333.08 | 55,305,584.12 | |
Research and development expenses | 17,063,635.99 | 12,941,851.40 | |
Financial expenses | 48,259,874.80 | 25,179,587.37 | |
Including: Interest expenses | 104,669,254.84 | 93,557,254.77 | |
Interest income | 100,363,631.75 | 96,069,268.50 | |
Add: Other income | 5,546,046.52 | 167,034.09 | |
Investment income | |||
(losses are indicated by "-") | 5,580,256.56 | 20,723,165.82 | |
Including: Income from investments in | |||
associates and joint ventures | -775,520.32 | 7,514,036.54 | |
Gains from changes | |||
in fair value | |||
(losses are indicated by "-") | -528,670,003.84 | -180,813,653.96 | |
Gains from disposal of assets | |||
(losses are indicated by "-") | 338,543.33 | 63,764.40 | |
II. Operating profit (losses are indicated by "-") | -316,267,378.73 | 117,320,705.15 | |
Add: Non-operating income | 175,903.85 | 7,020.00 | |
Less: Non-operating expenses | 3,954,292.06 | 3,268,607.48 | |
III. Total profit (loss is indicated by "-") | -320,045,766.94 | 114,059,117.67 | |
Less: Income tax expenses | -56,825,414.99 | 10,407,427.51 | |
IV. Net profit (loss is indicated by "-") | -263,220,351.95 | 103,651,690.16 | |
(I) Net profit from continuing operations | |||
(loss is indicated by "-") | -263,220,351.95 | 103,651,690.16 | |
V. Other comprehensive income | / | / | |
VI. Total comprehensive income | -263,220,351.95 | 103,651,690.16 | |
- 23 -
CONSOLIDATED CASH FLOW STATEMENT
January to March 2021
Unit: Yuan Currency: RMB Unaudited
January to | January to | ||
Items | March 2021 | March 2020 | |
I. Cash flows from operating activities: | |||
Cash receipts from the sale of goods and | |||
the rendering of services | 38,859,584,818.00 | 24,498,608,659.33 | |
Other cash receipts relating to | |||
operating activities | 97,172,053.31 | 598,249,549.54 | |
Sub-total of cash inflows from | |||
operating activities | 38,956,756,871.31 | 25,096,858,208.87 | |
Cash payments for goods purchased and | |||
services received | 34,826,496,636.27 | 17,655,416,027.66 | |
Cash payments to and on behalf of employees | 735,894,672.33 | 607,560,131.35 | |
Payments of various types of taxes | 703,782,549.75 | 867,144,356.46 | |
Other cash payments relating to | |||
operating activities | 120,676,102.28 | 78,994,471.30 | |
Sub-total of cash outflows from | |||
operating activities | 36,386,849,960.63 | 19,209,114,986.77 | |
Net cash flow from operating activities | 2,569,906,910.68 | 5,887,743,222.10 | |
- 24 -
January to | January to | ||
Items | March 2021 | March 2020 | |
II. Cash flows from investing activities: | |||
Cash receipts from disposals and | |||
recovery of investments | 1,246,039,975.85 | 1,169,238,799.41 | |
Cash receipts from investment income | 15,114,951.94 | 8,196,218.33 | |
Net cash receipts from disposals of fixed assets, | |||
intangible assets and other long-term assets | 952,223.00 | 0.00 | |
Other cash receipts relating to | |||
investing activities | 1,517,557,856.84 | 120,440,394.28 | |
Sub-total of cash inflows from | |||
investing activities | 2,779,665,007.63 | 1,297,875,412.02 | |
Cash payments to acquire or construct | |||
fixed assets, intangible assets and | |||
other long-term assets | 683,557,858.87 | 499,954,942.91 | |
Cash payments to acquire investments | 3,706,407,292.45 | 7,573,866,198.26 | |
Other cash payments relating to | |||
investing activities | 2,809,478,575.85 | 298,577,308.79 | |
Sub-total of cash outflows from | |||
investing activities | 7,199,443,727.17 | 8,372,398,449.96 | |
Net cash flow from investing activities | -4,419,778,719.54 | -7,074,523,037.94 | |
- 25 -
January to | January to | ||
Items | March 2021 | March 2020 | |
III. Cash flows from financing activities: | |||
Cash receipts from borrowings | 32,802,067,785.02 | 12,766,185,812.09 | |
Other cash receipts relating to | |||
financing activities | 1,901,390,423.19 | 3,130,760,096.62 | |
Sub-total of cash inflows from | |||
financing activities | 34,703,458,208.21 | 15,896,945,908.71 | |
Cash repayments of borrowings | 28,079,446,586.48 | 8,464,426,828.10 | |
Cash payments for distribution of dividends or | |||
profits and settlement of interests | 425,324,972.74 | 469,550,355.08 | |
Other cash payments relating to | |||
financing activities | 516,642,157.95 | 1,433,931,622.89 | |
Sub-total of cash outflows from | |||
financing activities | 29,021,413,717.17 | 10,367,908,806.07 | |
Net cash flow from financing activities | 5,682,044,491.04 | 5,529,037,102.64 | |
IV. Effect of foreign exchange rate | |||
changes on cash and cash equivalents | 18,635,071.19 | 76,889,344.12 | |
V. Net increase (decrease) in cash and | |||
cash equivalents | 3,850,807,753.37 | 4,419,146,630.92 | |
Add: Opening balance of cash and | |||
cash equivalents | 11,448,950,438.25 | 12,392,247,511.85 | |
VI. Closing balance of cash and cash equivalents | 15,299,758,191.62 | 16,811,394,142.77 | |
- 26 -
CASH FLOW STATEMENT OF PARENT COMPANY
January to March 2021
Unit: Yuan Currency: RMB Unaudited
January to | January to | ||
Items | March 2021 | March 2020 | |
I. Cash flows from operating activities: | |||
Cash receipts from the sale of goods and | 1,132,433,078.45 | ||
the rendering of services | 4,227,187,662.38 | ||
Other cash receipts relating to | 2,304,710,290.54 | ||
operating activities | 1,469,597,240.29 | ||
Sub-total of cash inflows from | |||
operating activities | 3,437,143,368.99 | 5,696,784,902.67 | |
Cash payments for goods purchased and | |||
155,229,163.29 | |||
services received | 122,791,064.34 | ||
Cash payments to and on behalf of employees | 150,107,356.88 | 127,084,558.13 | |
Payments of various types of taxes | 53,160,734.22 | 185,342,436.20 | |
Other cash payments relating to | 1,147,660,719.96 | ||
operating activities | 2,066,505,218.53 | ||
Sub-total of cash outflows from | |||
operating activities | 1,506,157,974.35 | 2,501,723,277.20 | |
Net cash flow from operating activities | 1,930,985,394.64 | 3,195,061,625.47 | |
- 27 -
January to | January to | ||
Items | March 2021 | March 2020 | |
II. Cash flows from investing activities: | |||
Cash receipts from disposals and | 400,000,000.00 | ||
recovery of investments | 1,000,000,000.00 | ||
Cash receipts from investment income | 6,355,776.88 | 8,196,218.33 | |
Net cash receipts from disposals of fixed assets, | 952,223.00 | ||
intangible assets and other long-term assets | 0.00 | ||
Other cash receipts relating to | 1,799,911,774.48 | ||
investing activities | 2,175,220,707.34 | ||
Sub-total of cash inflows from | |||
investing activities | 2,207,219,774.36 | 3,183,416,925.67 | |
Cash payments to acquire or construct | |||
fixed assets, intangible assets and | 36,901,446.08 | ||
other long-term assets | 71,932,671.50 | ||
Cash payments to acquire investments | 1,981,177,157.92 | 3,730,033,763.63 | |
Other cash payments relating to | 1,231,351,001.50 | ||
investing activities | 2,614,390,197.68 | ||
Sub-total of cash outflows from | |||
investing activities | 3,249,429,605.50 | 6,416,356,632.81 | |
Net cash flow from investing activities | -1,042,209,831.14 | -3,232,939,707.14 | |
III. Cash flows from financing activities: | |||
Cash receipts from borrowings | 9,502,052,000.00 | 4,930,378,000.00 | |
Other cash receipts relating to | |||
financing activities | 2,512,823,355.49 | 3,155,436,749.63 | |
Sub-total of cash inflows from | |||
financing activities | 12,014,875,355.49 | 8,085,814,749.63 | |
Cash repayments of borrowings | 8,098,842,992.35 | 2,678,000,000.00 | |
Cash payments for distribution of dividends or | |||
profits and settlement of interests | 146,715,401.30 | 103,993,624.94 | |
Other cash payments relating to | |||
financing activities | 729,142,624.16 | 1,589,250,356.98 | |
Sub-total of cash outflows from | |||
financing activities | 8,974,701,017.81 | 4,371,243,981.92 | |
Net cash flow from financing activities | 3,040,174,337.68 | 3,714,570,767.71 | |
- 28 -
January to | January to | ||
Items | March 2021 | March 2020 | |
IV. Effect of foreign exchange rate | |||
changes on cash and cash equivalents | -2,040,451.78 | -207,044.61 | |
V. Net increase in cash and | |||
cash equivalents | 3,926,909,449.40 | 3,676,485,641.43 | |
Add: Opening balance of cash and | |||
cash equivalents | 4,948,637,106.52 | 3,233,637,947.06 | |
VI. Closing balance of cash and cash equivalents | 8,875,546,555.92 | 6,910,123,588.49 | |
Luoyang City, Henan Province, the People's Republic of China, 27 April 2021
As at the date of this announcement, the Company's executive directors are Mr. Li Chaochun and Mr. Li Faben; the Company's non-executive directors are Mr. Yuan Honglin, Mr. Guo Yimin and Mr. Cheng Yunlei; and the Company's independent non- executive directors are Mr. Wang Gerry Yougui, Ms. Yan Ye and Mr. Li Shuhua.
- 29 -
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China Molybdenum Co. Ltd. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 14:24:01 UTC.