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Public company info - Xinjiang Xinxin Mining Industry Co. Ltd. - H Shares , 03833.HK
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Xinjiang Xinxin Mining Industry Co. Ltd. - H Shares, 03833.HK - Company Profile
Chairman Zhang Guohua
Share Issued (share) 759,000,000
Par Currency Renminbi
Par Value 0.25
Industry Nonferrous Metal
Corporate Profile Business Summary: The Group is principally engaged in the mining, ore processing, smelting, refining of nickel, copper and vanadium, and sales of nickel, copper and other nonferrous metal products. Performance for the year: For the year of 2019, the Group achieved revenue of RMB1,657.5 million, representing a decrease of 5.3% as compared to that in 2018, and a profit of RMB24.8 million, as compared to a net loss of RMB134.1 million in 2017; a comprehensive profit attributable to shareholders of the Company amounted to RMB27.4 million, as compared to a comprehensive loss attributable to shareholders of the Company of RMB54.2 million for the year of 2018. Business Review： Production and Operation For the year of 2019, in order to cope with the adverse impact on enterprises caused by the relatively lower prices of nickel cathode in both international and domestic markets and the rising procurement prices of raw materials, and in accordance with the relevant requirements of the State and Xinjiang government regarding production safety and environmental protection improvement, the Group took a series of measures to lower product costs and expenditures as well as improve overall operation efficiency of the Company. Such measures included upgrading and transforming the production safety and environmental protection facilities and the major production processes, enhancing the Party Building work and other fundamentals of the corporate management, adjusting internal operation structure, optimizing the technical and economic indicators of production processes, strictly controlling non-production expenditures, improving technological renovation and capacity expansion projects as well as fulfilling planned production volume and attaining stated targets through performing the craftsmanship adjustment and testing and commissioning as soon as possible. In the meantime, the Group intensified analysis and research of products market, and adopted the marketing strategies of pricing sales combining spot and futures, which in turn achieved the goal to realize the sales of major products of the Group with a relatively higher market price and enhance the economic efficiency. For the year of 2019, the Group recorded a total nickel cathode output of 11,082 tonnes, representing an increase of 9.4% as compared to that in 2018; and a total copper cathode output of 8,601 tonnes, representing an increase of 0.8% as compared to that in 2018. For the year of 2019, the Group recorded total nickel cathode sales of 11,993 tonnes, representing a decrease of 2.5% as compared to that in 2018. Total copper cathode sales was 7,656 tonnes, representing a decrease of 21.1% as compared to that in 2018. For the year of 2019, the Group recorded an average selling price of nickel cathode (tax exclusive) of RMB97,814 per tonne, representing an increase of 2.1% as compared to that in 2018. The average selling price of copper cathode (tax exclusive) amounted to RMB41,642 per tonne in 2019, representing a decrease of 2.0% as compared to that in 2018. For the year of 2019, the Group recorded an average cost of sales of nickel cathode of RMB79,355 per tonne, representing an increase of 2.0% as compared to that in 2018. The average cost of sales of copper cathode amounted to RMB36,905 per tonne in 2019, representing a decrease of 6.7% as compared to that in 2018. Mineral exploration activities: For the year of 2019, Xinjiang Kalatongke Mining Industry Company Limited (“Kalatongke Mining”) mainly completed mineral exploration projects such as 11,535 meters of drilling in pit and 2,384 meters of surface drilling. Xinjiang Yakesi Resources Co. Ltd. (“Xinjiang Yakesi”) and Hami Jubao Resources Co. Ltd. (“Hami Jubao”) mainly completed mineral exploration projects such as 2,522 meters of drilling in pit. For the year of 2019, the total amount of expenditure that the Group expended on exploration was approximately RMB4.0 million. Mining development activities: For the year of 2019, Kalatongke Mining mainly completed mining development projects, such as construction of 162.5 meters of various tunnels of 530 mid-segment of No. 3 ore body expansion project, construction of 156 meters of various wellbores, construction of 96.5 meters of various chamber engineering as well as construction of 167.4 meters of linkage of slope road engineering. Xinjiang Yakesi and Hami Jubao mainly completed mining development projects, such as construction of 528.3 meters wellbores at 150 mid-segment to 470 mid-segment of No. 30 ore body in Huangshan, construction of 180.8 meters of various wellbores and construction of 272 meters of slope road engineering. For the year of 2019, the Group’s total expenditure for mining development activities amounted to approximately RMB32.9 million. Prospects: For the year 2020, the Group plans to produce 11,500 tonnes of nickel cathode and 11,000 tonnes of copper cathode. Shareholders and potential investors should be cautioned that the above estimates are made on the basis of the current market situation and the existing conditions of the Group and are subject to a number of uncertainties in metal prices, domestic raw materials market and production environment. The Board may adjust the relevant production plan according to the changes of situation.

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