北方矿业年报2024

2024Annual Report Contents目錄 Corporate Information2Chairman’s Statement4Management Discussion and Analysis6Biographical Details of Directors21Report of the Directors24Corporate Governance Report35Independent Auditor’s Report53Consolidated Statement of Profit or Loss andOther Comprehensive Income57Consolidated Statement of Financial Position59Consolidated Statement of Changes in Equity61Consolidated Statement of Cash Flows62Notes to Consolidated Financial Statements64Summary of Financial Information175 Corporate Information Yang Ying Min(Chairman and Chief Executive Officer)Qian Yi Dong(Deputy Chairman)Huang ZhidanShen JianQian Si Qun(appointed with effect from 28 March 2025) Independent Non-executive DirectorsShek Man HoShen Ming JieFeng Jia Wei COMPANY SECRETARYHo Wing Yan AUTHORISED REPRESENTATIVEYang Ying Min AUDIT COMMITTEEShek Man Ho(Chairman)Shen Ming JieFeng Jia Wei REMUNERATION COMMITTEEShen Ming Jie(Chairman)Feng Jia WeiQian Yi Dong NOMINATION COMMITTEEYang Ying Min(Chairman)Shen Ming JieFeng Jia Wei CORPORATE GOVERNANCE COMMITTEEFeng Jia Wei(Chairman)Shek Man HoShen Ming Jie FINANCIAL REPORTING COMMITTEEShek Man Ho(Chairman)Shen Ming JieFeng Jia Wei Corporate Information AUDITORSSuya WWC CPA LimitedCertified Public Accountants Clarendon House2 Church StreetHamilton HM 11Bermuda REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPALPLACE OF BUSINESS 6202004–05 Room 2004–05, 20/FKwan Chart Tower6 Tonnochy RoadWan ChaiHong Kong PRINCIPAL SHARE REGISTRAR Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court, 22 Victoria Street,P.O. Box HM1179, Hamilton HM EXBermuda Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court, 22 Victoria Street,P.O. Box HM1179, Hamilton HM EXBermuda(effect from 10 January 2025) HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17th FloorFar East Finance CentreNo. 16 Harcourt RoadHong Kong(effect from 28 February 2025) 433 SHARE INFORMATION Stock code: 433(The Stock Exchange of Hong Kong Limited) www.northmining.com.hk WEBSITEwww.northmining.com.hk Chairman’s Statement Dear Shareholders, On behalf of the board of directors (the “Board”) of North Mining SharesCompany Limited (the “Company”, together with its subsidiariesreferred to as the “Group”). It is with great pride and appreciation thatI present the Chairman’s Statement for the year ended 31 December2024, a period marked by resilience, operational progress, and strategicadvancement across our mining operation and chemical operation. BUSINESS REVIEW Mining Operation After almost 3 years suspension due to renewing the major MiningLicence and Safety Production Licence, I am pleased to announce thatfull-scale mining operations resumed in October 2024at our key sitein Shaanxi Province Luo Nan Xian. This milestone reflects the dedicationand hard work of our team, as well as our commitment to meeting bothregulatory standards and community expectations. Since resuming production, we have implemented enhanced safetyprotocols, upgraded equipment, and optimized processes to ensureoperational efficiency and environmental compliance. Early productionindicators are promising, and we are confident that output will return to orexceed pre-suspension levels in the coming quarters. Performance of Mining Operation Despite the challenges, our mining operation demonstrated resilience. Ourmolybdenum concentrate grades remained consistent, and our strategicfocus on cost control and process improvements has positioned us for astrong rebound. We continue to explore new opportunities for expansionand modernizing our mining assets with advanced technologies to ensurelong-term sustainability. Chemical Operation In our chemical operation, we achieved significant strides in costoptimisation without compromising on quality or safety. Through acombination of process automation, raw material efficiency, and strategicsourcing, we reduced operating expenses across several product lines. Chairman’s Statement We also completed a comprehensive review of our supply chain andinternal workflows, resulting in more agile production planning and betterinventory management. These measures have already contributed toimproved margins and will lay a solid foundation for future scalability. Additionally, we continue to explore opportunities to expand our chemicalproduct offerings in high-demand sectors, reinforcing the division’s roleas a robust contributor to the Group’s overall performance. Outlook and Strategic Priorities Looking ahead, our strategic focus remains centered on: 1)2)3)ESG4) 1)Sustaining safe and efficient mining production2)Expanding our chemical portfolio while maintaining cost discipline3)Investing in innovation, automation, and ESG initiatives4)Strengthening our financial and operational resilience —— We are confident that the steps we have taken this year—both in resumingoperation and optimizing pr