2024 （於中華人民共和國註冊成立的股份有限公司） 股份代碼 : 01898 存量提效與增量轉型並舉 以高質量發展回饋投資者 中國中煤能源股份有限公司 貳零貳肆年度報告 目錄 | 董事長致辭 | 2 | | --- | --- | | 管理層對財務狀況及經營成果的討論與分析 | 4 | | 業務表現 | 22 | | 資本開支 | 31 | | 科技創新 | 34 | | 投資者關係 | 36 | | 安全、健康、環保及社會責任 | 37 | | 董事、監事、高級管理人員及員工情況 | 39 | | 董事會報告 | 46 | | 監事會報告 | 59 | | 企業管治報告 | 61 | | 獨立核數師報告 | 76 | | 合併利潤及其他綜合收益表 | 81 | | 合併財務狀況表 | 83 | | 合併權益變動表 | 85 | | 合併現金流量表 | 87 | | 合併財務報表附註 | 89 | | 五年財務數據摘要 | 228 | | 公司資料 | 229 | | 釋義 | 231 | | 組織結構圖 | 234 | 註： 在本報告中，除非內文另有所指外，所有財務指標均以人民幣為單位。 二零二四年度報告 ...

Financial Performance - The revenue for the year ended December 31, 2024, was RMB 189.40 billion, a decrease of RMB 3.57 billion (-1.9%) compared to 2023[4]. - The profit attributable to shareholders for 2024 was RMB 18.16 billion, down RMB 2.03 billion (-10.0%) from 2023[4]. - The basic earnings per share for 2024 were RMB 1.37, a decrease of RMB 0.15 from 2023[8]. - The EBITDA for 2024 was RMB 40.59 billion, a decrease of RMB 4.17 billion (-9.3%) compared to 2023[4]. - The company reported a total comprehensive income of RMB 23.36 billion for 2024, down from RMB 25.95 billion in 2023[8]. - The company’s operating profit for 2024 was RMB 30.15 billion, a decrease of RMB 3.36 billion (-10.0%) from 2023[6]. - The company reported a pre-tax profit of RMB 31,733,631 thousand for the year ended December 31, 2024, compared to RMB 35,222,872 thousand in 2023, indicating a decline of approximately 10.5%[24]. - The total profit for the year amounted to RMB 18,155,988,000[65]. - The company's gross profit fell by 3.661 billion CNY to 37.922 billion CNY, representing a decrease of 8.8% year-over-year[106]. - The operating profit decreased by 3.361 billion CNY to 30.153 billion CNY, a decline of 10.0% compared to the previous year[98]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 357.79 billion, an increase from RMB 349.16 billion in 2023[9]. - Total liabilities decreased slightly to RMB 165,765,797 thousand in 2024 from RMB 166,631,766 thousand in 2023, representing a decrease of approximately 0.52%[10]. - Current liabilities increased to RMB 102,175,945 thousand in 2024, up from RMB 98,157,965 thousand in 2023, marking an increase of about 3.06%[10]. - Non-current liabilities decreased to RMB 63,589,852 thousand in 2024 from RMB 68,473,801 thousand in 2023, a decrease of approximately 7.06%[10]. - Total equity increased to RMB 192,028,699 thousand in 2024 from RMB 182,523,561 thousand in 2023, an increase of approximately 5.51%[10]. - The company’s long-term borrowings decreased to RMB 40,345,761 thousand in 2024 from RMB 42,774,978 thousand in 2023, a decrease of approximately 5.68%[10]. - The company’s short-term borrowings increased significantly to RMB 1,115,460 thousand in 2024 from RMB 122,600 thousand in 2023, reflecting an increase of approximately 810.36%[10]. - The company’s total liabilities, including accounts payable and notes payable, are approximately RMB 27,040,702,000, closely approximating their fair value[61]. Revenue Breakdown - The domestic market revenue for 2024 was RMB 188,526,439 thousand, a slight decrease from RMB 190,834,157 thousand in 2023, representing a decline of approximately 1.2%[28]. - The coal segment's total revenue was RMB 160,711,645 thousand for the year ended December 31, 2024, compared to RMB 162,680,722 thousand in 2023, reflecting a decrease of about 1%[24]. - Revenue from coal chemical products sales was RMB 19,322,481 thousand in 2024, down from RMB 20,296,573 thousand in 2023, reflecting a decrease of about 4.8%[33][34]. - The revenue from coal mining equipment sales was RMB 8,882,460 thousand in 2024, compared to RMB 9,942,943 thousand in 2023, indicating a decline of approximately 10.7%[33][34]. - The coal business revenue was 160.712 billion CNY, down 1.2% from 162.681 billion CNY in the previous year[99]. Dividends and Earnings - The board proposed a final dividend of RMB 0.258 per share for the year 2024, subject to approval at the annual general meeting[4]. - The company declared a total cash dividend of RMB 10,288,723,000 for the year, compared to RMB 5,860,215,000 in 2023, marking an increase of approximately 75.0%[47]. - Basic earnings per share for 2024 were RMB 1.37, down from RMB 1.52 in 2023, indicating a decrease of approximately 9.9%[51]. Operational Highlights - The company produced 137.57 million tons of self-produced commercial coal, an increase of 3.35 million tons or 2.5% year-on-year[84]. - The sales volume of self-produced commercial coal reached 137.63 million tons, up 3.72 million tons or 2.8% year-on-year[84]. - The company achieved a net cash inflow from operating activities of RMB 34.1 billion[83]. - The company achieved a record coal production of 137.57 million tons, an increase of 2.5% from 2023's 134.22 million tons[168]. - The company maintained a leading coal mining efficiency of 34.6 tons per worker in 2024[168]. Strategic Initiatives - The company plans to enhance core competitiveness and focus on high-quality development, aiming to complete annual operational performance targets[91]. - The company is committed to advancing carbon reduction, pollution control, and green growth actions to improve industrial transformation capabilities[91]. - The company aims to deepen regional and professional reforms, enhancing internal motivation and management efficiency[91]. - The company is committed to innovation, increasing R&D investment, and enhancing digital management systems to support intelligent coal mine construction[192]. - The company is actively participating in international market competition, accelerating its globalization efforts through mergers and acquisitions[196].

Financial Performance - Operating revenue for the third quarter reached RMB 47,428,310, representing a year-on-year increase of 1.2%[3] - Net profit attributable to shareholders was RMB 4,826,277, showing a slight decrease of 0.6% compared to the same period last year[3] - The cash flow from operating activities for the year-to-date was RMB 25,756,764, down 9.2% year-on-year[3] - The net profit after deducting non-recurring gains and losses was RMB 4,769,138, down 1.0% year-on-year[3] - For the first nine months of 2024, the net profit attributable to shareholders was CNY 14,614,069, a decrease of 12.7% compared to CNY 16,688,039 in the same period of 2023[8] - The coal business generated operating revenue of CNY 117.85 billion in the first nine months of 2024, down 11.0% from CNY 132.37 billion in the same period of 2023[12] - The operating cost of the coal business was CNY 88.60 billion, a decrease of 12.2% from CNY 100.91 billion year-on-year[12] - The gross profit from the coal business was CNY 29.25 billion, down 7.0% from CNY 31.46 billion in the previous year[12] Production and Sales - The production of commercial coal for the first nine months was 10,231,000 tons, an increase of 1.1% year-on-year[7] - The sales volume of commercial coal decreased by 4.3% to 20,551,000 tons compared to the same period last year[7] - The production of urea decreased by 14.4% to 131,200 tons in the first nine months compared to the previous year[7] - The sales volume of self-produced commodity coal for January to September 2024 was 12.94 million tons, a decrease from 13.54 million tons in the same period of 2023[14] - The sales volume of urea decreased by 11.4% to 151.0 million tons, with the sales price dropping by 11.4% to RMB 2,134 per ton[17] - The sales volume of methanol decreased by 17.7% to 120.6 million tons, while the sales price increased slightly by 0.9% to RMB 1,767 per ton[17] - The sales volume of polyethylene increased by 2.7% to 58.9 million tons, with a sales price increase of 1.4% to RMB 7,281 per ton[17] - The sales volume of polypropylene increased by 2.6% to 54.6 million tons, with a stable sales price of RMB 6,636 per ton[17] Assets and Liabilities - The total assets at the end of the reporting period amounted to RMB 360,629,392, reflecting a 3.2% increase from the previous year[3] - The total net assets attributable to shareholders as of September 30, 2024, were CNY 149,495,273, an increase of 3.3% from CNY 144,121,015 at the end of 2023[8] - The total liabilities due within one year decreased by 36.6% to CNY 13,787,145, reflecting repayments of long-term bank loans[10] Costs and Expenses - The unit sales cost of self-produced commodity coal decreased to RMB 286.60 per ton in January to September 2024, down 2.8% from RMB 294.79 per ton in the same period of 2023[16] - The material cost per ton increased by 2.9% year-on-year to RMB 56.11, while labor costs rose by 17.7% to RMB 53.27 per ton[15] - The unit sales cost of ammonium nitrate decreased significantly by 20.4% to RMB 1,288 per ton[18] Investments and Shareholding - China Coal Energy Company increased its A-share holdings by 2,454,700 shares, representing approximately 0.0185% of the total share capital during the reporting period[22] - As of September 30, 2024, China Coal holds 7,611,207,908 A-shares, accounting for 57.41% of the total issued share capital[22] - The total shareholding of China Coal, including H-shares held through its subsidiary, is approximately 58.40% of the total issued share capital[22] - Fude Life Insurance Company holds 2,012,858,147 H-shares of the company as disclosed on the stock exchange[22] - The top 10 shareholders and those holding more than 5% of shares have participated in the securities lending business, with specific details provided in the report[22] - The report indicates that there were no changes in the number of shares lent and not returned for the top 10 shareholders during the reporting period[23] Management and Governance - The company will not apply new accounting standards or interpretations that would require adjustments to the financial statements for the current year[24] - The board of directors is led by Chairman Wang Shudong, with other executive and independent directors listed[24] Future Outlook - The company plans to enhance its production capabilities and explore new market opportunities in the upcoming quarters[16]

Financial Performance - In the first half of 2024, the company achieved revenue of RMB 93 billion, a decrease of 15.0% year-on-year, and a net profit attributable to shareholders of RMB 10.7 billion, down 16.0% year-on-year[3]. - The group's revenue for the first half of 2024 was 92.984 billion yuan, a decrease of 16.373 billion yuan or 15.0% compared to 109.357 billion yuan in the same period of 2023[8]. - The group's pre-tax profit was 17.983 billion yuan, down 3.209 billion yuan or 15.1% from 21.192 billion yuan in the previous year[8]. - The net cash inflow from operating activities was 14.890 billion yuan, a decrease of 2.145 billion yuan or 12.6% year-on-year[8]. - The coal business revenue was 77.767 billion yuan, a decline of 15.756 billion yuan or 16.8% compared to 93.523 billion yuan in the previous year[10]. - The average selling price of self-produced coal decreased by 40 yuan per ton, resulting in a revenue loss of 2.660 billion yuan, while sales volume increased by 1.34 million tons, contributing an additional 834 million yuan in revenue[8]. - Gross profit for the six months ended June 30, 2024, decreased by 10.8% to CNY 21.36 billion, compared to CNY 23.95 billion for the same period in 2023, while gross margin increased by 1.1 percentage points to 23.0%[15]. - The company reported a decrease in other comprehensive income, totaling RMB (336,573) thousand compared to RMB 138,953 thousand in 2023[95]. - The company reported a profit of RMB 10,695,209 thousand for the six months ended June 30, 2024, compared to a profit of RMB 12,731,596 thousand for the same period in 2023, reflecting a decline of approximately 16.0%[99]. Cash Flow and Investments - The company maintained strong operational cash flow with a net cash inflow of RMB 15.7 billion, an increase of 4.1% year-on-year[3]. - As of June 30, 2024, the group's cash and cash equivalents balance was CNY 37.207 billion, an increase of CNY 5.624 billion from CNY 31.583 billion on December 31, 2023[38]. - The net cash outflow from investing activities was CNY 3.904 billion, reduced by CNY 1.287 billion from CNY 5.191 billion for the same period last year[38]. - The company incurred a total of RMB 4,347,559 thousand in capital expenditures for property, plant, and equipment during the first half of 2024, compared to RMB 4,024,259 thousand in the same period of 2023, representing an increase of approximately 8.0%[100]. - The company reported a net cash outflow from financing activities of CNY 5.375 billion, a decrease of CNY 5.677 billion from CNY 11.052 billion for the six months ended June 30, 2023[38]. Production and Sales - The total coal production reached 66.5 million tons, remaining stable year-on-year, while self-produced coal sales increased by 1.34 million tons to 66.19 million tons[3]. - The total sales volume of commodity coal for the first half of 2024 was 133.55 million tons, a decrease of 8.9% year-on-year, while self-produced coal sales increased by 2.1% to 66.19 million tons[57]. - The sales revenue from self-produced coal decreased by 4.5% to CNY 38.64 billion, primarily due to a price drop of CNY 40 per ton, despite a volume increase of 1.34 million tons[17]. - The sales volume of major coal chemical products was 3.083 million tons, down 4.0% compared to the same period last year[60]. - The company has completed the construction of 66 intelligent coal mining faces and 43 intelligent tunneling faces, enhancing safety and production efficiency[55]. Dividends and Shareholder Returns - A total of RMB 10.3 billion will be distributed as dividends, including the 2023 year-end dividend and the 2024 interim dividend[4]. - The company declared a cash dividend of 0.442 RMB per share, totaling 5,860,214,700 RMB, based on a net profit of 19,534,049,000 RMB for the fiscal year 2023[77]. - The company declared an interim dividend of RMB 0.221 per share, totaling approximately RMB 2,936,337,600, based on the approval from the annual general meeting[177]. Strategic Initiatives and Future Plans - The company plans to enhance energy supply capabilities and accelerate green low-carbon transformation, focusing on key projects such as the 2×350MW low calorific value coal power project and various photovoltaic projects totaling 360MW[5]. - The company aims to deepen reforms and enhance core competitiveness, with a focus on achieving the goals set by the 20th Central Committee of the Communist Party of China[5]. - The company is actively integrating its coal, power, coal chemical, and new energy sectors to create a cohesive industrial chain[3]. - The company plans to focus on market expansion and new technology development to enhance future growth prospects[115]. - The company is exploring strategic acquisitions to enhance its market position, particularly in the renewable energy sector[191]. Financial Position and Assets - The total assets of the group as of June 30, 2024, were 361.134 billion yuan, an increase of 11.979 billion yuan or 3.4% from the end of 2023[8]. - The debt-to-equity ratio was 26.9%, down 1.6 percentage points from 28.5% at the end of 2023[8]. - The net value of property, plant, and equipment was CNY 134.427 billion, reflecting a growth of 5.3% from CNY 127.702 billion on December 31, 2023[40]. - The total liabilities as of June 30, 2024, were RMB 173,396,822 thousand, up from RMB 166,631,766 thousand as of December 31, 2023, reflecting an increase of approximately 4.0%[98]. - The company reported a significant increase in accounts payable for dividends, rising to RMB 8,086,440 thousand from RMB 66,505 thousand, reflecting a substantial increase[148]. Risk Management and Compliance - The company has maintained a robust financial structure and improved risk resistance, focusing on quality and efficiency in its coal and coal chemical businesses[67]. - The independent review report confirms that the interim financial information complies with International Accounting Standard 34[93]. - The company has complied with the Corporate Governance Code as per the listing rules of the Stock Exchange[73]. - The Audit and Risk Management Committee reviewed the interim financial results, confirming compliance with international accounting standards[75]. Employee and Governance - As of June 30, 2024, the total number of employees is 46,303, including 29,710 production staff, 1,084 sales personnel, 9,689 technical staff, 937 financial staff, 2,904 administrative staff, and 1,979 others[89]. - The company has implemented reforms in employee compensation, focusing on key positions and high-demand talent to enhance core competitiveness[89]. - The company is actively collaborating with national training institutions to enhance employee skills through various training programs[89].

Financial Performance - In the first half of 2024, the company's revenue was RMB 92.98 billion, a decrease of RMB 16.37 billion (15.0%) compared to the same period in 2023[1][2] - The profit attributable to shareholders for the first half of 2024 was RMB 10.70 billion, down RMB 2.04 billion (16.0%) from the same period in 2023[1][2] - Basic earnings per share for the first half of 2024 were RMB 0.81, a decrease of RMB 0.15 compared to RMB 0.96 in the same period of 2023[1][3] - EBITDA for the first half of 2024 was RMB 23.11 billion, a decrease of RMB 3.27 billion (12.4%) from the previous year[1][2] - The company reported a gross profit of RMB 21.36 billion for the first half of 2024, down from RMB 23.95 billion in the same period of 2023[2] - The operating profit for the first half of 2024 was RMB 18.03 billion, a decrease from RMB 20.71 billion in the same period of 2023[2] - The company reported a decrease in contract liabilities from RMB 5,040,221 thousand to RMB 3,551,810 thousand, a reduction of approximately 29.5%[5] - The company reported a gross profit of 21.359 billion yuan for the first half of 2024, down 2.594 billion yuan or 10.8% from 23.953 billion yuan in the same period last year[36] - The pre-tax profit for the first half of 2024 was 17.983 billion yuan, down 3.209 billion yuan or 15.1% from 21.192 billion yuan in the previous year[36] Assets and Liabilities - Non-current assets totaled RMB 236.17 billion as of June 30, 2024, an increase from RMB 229.49 billion at the end of 2023[1][4] - Current assets amounted to RMB 124.96 billion as of June 30, 2024, compared to RMB 119.67 billion at the end of 2023[1][4] - The company's total assets reached RMB 361.13 billion as of June 30, 2024, up from RMB 349.16 billion at the end of 2023[1][4] - As of June 30, 2024, total liabilities amounted to RMB 173,396,822 thousand, an increase from RMB 166,631,766 thousand as of December 31, 2023, representing a growth of approximately 4.6%[5] - Current liabilities totaled RMB 100,496,781 thousand, slightly up from RMB 98,157,965 thousand at the end of 2023, indicating a 2.4% increase[5] - Non-current liabilities rose to RMB 72,900,041 thousand from RMB 68,473,801 thousand, reflecting a growth of about 6.3%[5] - Total equity reached RMB 187,737,345 thousand as of June 30, 2024, compared to RMB 182,523,561 thousand at the end of 2023, marking an increase of approximately 2.4%[6] - The company’s total assets amounted to RMB 361,134,167 thousand as of June 30, 2024, up from RMB 349,155,327 thousand, indicating a growth of approximately 3.4%[6] Dividends and Shareholder Returns - The company declared an interim dividend of RMB 0.221 per share for 2024, as approved by the board[1] - The company declared a total dividend of approximately RMB 7,360,214,700 for the six months ended June 30, 2024, compared to RMB 5,475,828,000 for the same period in 2023[22] - The company plans to distribute an interim dividend of RMB 0.221 per share, totaling approximately RMB 2.936 billion[31] - For the first half of 2024, the net profit attributable to shareholders is CNY 9,787,792,000, with a proposed cash dividend of CNY 2,936,337,600, also representing 30% of the net profit[100] Market Performance - Domestic market revenue for the six months ended June 30, 2024, was RMB 92,348,923, a decrease of 14.9% from RMB 108,489,052 for the same period in 2023[17] - Overseas market revenue for the same period was RMB 634,947, down 26.8% from RMB 867,674 in 2023[17] - Total revenue for the six months ended June 30, 2024, was RMB 92,983,870, a decline of 15.7% compared to RMB 109,356,726 in 2023[17] - The coal segment generated revenue of RMB 93,523,044 thousand, with external transaction revenue of RMB 88,690,967 thousand[16] - The coal business revenue fell by 16.8% to CNY 777.67 billion, while the revenue after inter-segment sales elimination decreased by 16.9% to CNY 737.44 billion[39] Operational Efficiency - The company achieved a total coal production of 66.5 million tons in the first half of 2024, which is approximately flat compared to 66.7 million tons in the same period of 2023, reflecting a decrease of 0.9%[82][83] - The company’s coal production efficiency remains high at 34.7 tons per worker, maintaining an industry-leading level[82] - The company has completed the construction of 66 intelligent mining faces and 43 intelligent tunneling faces, enhancing safety and production efficiency[82] - The company has 13 coal mines that have passed the intelligent coal mine acceptance, indicating a commitment to technological advancement in operations[82] Financial Management - The company has maintained its accounting policies consistent with those used in the previous fiscal year, ensuring stability in financial reporting[9] - The company has no supplier financing arrangements, which minimizes liquidity risk exposure[11] - The company issued 2 billion yuan in 15-year technology innovation bonds to enhance funding for innovation[35] - The company issued CNY 2 billion of technology innovation corporate bonds on July 16, 2024, with a maturity of 15 years and an interest rate of 2.58%[104] Strategic Initiatives - The company plans to enhance production efficiency and reduce costs through improved operational strategies and technology advancements[52] - The company is focusing on clean and efficient coal conversion, developing modern coal chemical industries such as coal-to-olefins and coal-to-urea, maintaining industry-leading operational indicators[95] - The company is committed to innovation, increasing R&D investment, and enhancing digital management systems to support intelligent mining construction[95] - The company is advancing the integration of coal, electricity, coal chemical, and new energy, leveraging its extensive mining resources and infrastructure[95]

Financial Performance - In the first half of 2023, the company's revenue was RMB 109.36 billion, a decrease of RMB 8.68 billion (7.4%) compared to the same period in 2022[1]. - The profit attributable to shareholders for the first half of 2023 was RMB 12.73 billion, down RMB 1.80 billion (12.4%) year-on-year[1]. - Basic earnings per share for the first half of 2023 were RMB 0.96, a decrease of RMB 0.14 compared to RMB 1.10 in the same period of 2022[3]. - EBITDA for the first half of 2023 was RMB 26.38 billion, a decrease of RMB 2.70 billion (9.3%) from the previous year[1]. - The company did not declare an interim dividend for 2023[1]. - Gross profit for the first half of 2023 was RMB 23.95 billion, down from RMB 28.58 billion in the same period of 2022[2]. - Operating profit for the first half of 2023 was RMB 20.71 billion, compared to RMB 23.87 billion in the same period of 2022[2]. - Total revenue for the first half of 2023 was RMB 109,356,726 thousand, a decrease of 7.1% compared to RMB 118,038,729 thousand in the same period of 2022[17]. - Operating profit for the first half of 2023 was RMB 20,706,646 thousand, down from RMB 23,870,448 thousand in the first half of 2022, representing a decline of 13.1%[17]. - The company reported a pre-tax profit of RMB 21,192,436 thousand for the first half of 2023, compared to RMB 24,990,917 thousand in the same period of 2022, reflecting a decrease of 15.1%[17]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 346.55 billion, an increase from RMB 339.73 billion as of December 31, 2022[4]. - Non-current assets totaled RMB 219.22 billion as of June 30, 2023, compared to RMB 215.82 billion at the end of 2022[4]. - Cash and cash equivalents were RMB 30.79 billion as of June 30, 2023, slightly up from RMB 29.99 billion at the end of 2022[4]. - As of June 30, 2023, total liabilities amounted to RMB 172,776,750 thousand, a slight decrease from RMB 174,841,441 thousand as of December 31, 2022[5]. - Non-current liabilities totaled RMB 74,426,369 thousand, up from RMB 69,843,251 thousand year-over-year[5]. - Total equity increased to RMB 173,775,186 thousand from RMB 164,888,788 thousand, reflecting a growth of approximately 5.36%[5]. - The company's total assets reached RMB 346,551,936 thousand, compared to RMB 339,730,229 thousand at the end of 2022, indicating a growth of about 2.41%[5]. Market Performance - Domestic market revenue for the first half of 2023 was RMB 108,489,052 thousand, down 7.7% from RMB 117,292,121 thousand in the first half of 2022[19]. - Overseas market revenue increased to RMB 867,674 thousand in the first half of 2023, up 16.2% from RMB 746,608 thousand in the same period of 2022[19]. - The company reported a significant decrease in operating profit margin, which fell to 18.9% in the first half of 2023 from 20.0% in the same period of 2022[17]. Production and Sales - The company's coal production reached 67.12 million tons, an increase of 7.89 million tons year-on-year[37]. - The sales volume of self-produced coal was 6,485,000 tons, with an average selling price of CNY 624 per ton, reflecting a decrease of CNY 128 per ton year-on-year[49]. - The sales revenue from self-produced coal dropped to CNY 40.47 billion, down 8.2% from CNY 44.09 billion in the previous year[48]. - The sales revenue from purchased trade coal decreased by 8.1% to CNY 52.75 billion, primarily due to a price drop of CNY 141 per ton[48]. - The overall sales volume for the group increased to 9.16 million tons, up from 8.71 million tons in the same period last year[50]. Strategic Initiatives - The company plans to continue its strategic initiatives in financial services and equipment manufacturing to enhance overall performance and market presence[6]. - The company aims to enhance energy security supply capabilities and promote green low-carbon transformation in the second half of 2023[34]. - The company is focusing on key technological challenges and accelerating innovation capabilities to drive transformation and development[34]. - The company plans to enhance its logistics system to improve energy security capabilities[91]. - The company is actively pursuing differentiated and customized business strategies to enhance profitability[93]. Financial Management - The company approved a dividend distribution of RMB 5,475,828,000 to ordinary shareholders on June 13, 2023, compared to RMB 3,990,858,000 for the year-end dividend in 2022[24]. - The total income tax expense for the six months ended June 30, 2023, was RMB 4,477,837,000, compared to RMB 5,185,835,000 for the same period in 2022, reflecting a 14% reduction[23]. - The net financial expenses for the first half of 2023 were RMB (1,573,237,000), a significant improvement from RMB (2,035,984,000) in the same period of 2022, indicating a reduction of approximately 23%[21]. Research and Development - The company obtained 84 authorized patents in the first half of 2023, and five coal mines had seven achievements selected as typical cases for intelligent construction in the national coal mine sector[34]. - The company is actively pursuing digital transformation and the integration of big data and digital management systems to improve operational efficiency[106]. - The company emphasizes innovation-driven development, increasing R&D investment and accelerating the integration of innovative resources[106].

Financial Performance - Operating revenue for Q1 2024 was RMB 45,394,500, a decrease of 23.3% compared to the same period last year[2]. - Net profit attributable to shareholders for Q1 2024 was RMB 4,969,520, down 30.5% year-on-year[2]. - Net cash flow from operating activities for Q1 2024 was RMB 3,405,180, a significant decline of 69.3% compared to the previous year[2]. - The weighted average return on equity for Q1 2024 was 3.38%, a decrease of 1.94 percentage points from the previous year[2]. - The investment income fell by 54.8% to 444.478 million RMB due to reduced profits from associated companies[9]. - The weighted average return on net assets decreased by 36.5%[8]. Production and Sales - The production of commercial coal in Q1 2024 was 3,273 million tons, a decrease of 1.7% from 3,330 million tons in Q1 2023[5]. - The sales volume of commercial coal in Q1 2024 was 6,387 million tons, down 14.6% from 7,477 million tons in the same period last year[5]. - The production of urea in Q1 2024 was 47.5 million tons, slightly down by 0.8% from 47.9 million tons in Q1 2023[5]. - The production of methanol in Q1 2024 was 41.2 million tons, a decrease of 17.4% compared to 49.9 million tons in Q1 2023[5]. - The sales volume of self-produced coal was 3,231 million tons, down 0.8% year-on-year, with an average selling price of 598 RMB/ton, a decrease of 10.9%[11]. - The sales volume of polyethylene was 1.91 million tons, with a price of RMB 7,182 per ton, showing a 3.8% increase in volume but a 1.0% decrease in price compared to Q1 2023[15]. - The sales volume of urea decreased by 9.4% to 5.51 million tons, with a price drop of 17.7% to RMB 2,237 per ton compared to the same period last year[15]. - The sales volume of methanol fell by 21.9% to 3.96 million tons, with a price decrease of 8.6% to RMB 1,675 per ton compared to Q1 2023[15]. Costs and Profitability - Coal business revenue for Q1 was 37.483 billion RMB, a decrease of 26.1% from 50.744 billion RMB in the same period last year[10]. - The gross profit from coal business was 10.127 billion RMB, down 23.5% from 13.232 billion RMB year-on-year[10]. - The unit sales cost of self-produced coal increased by 6.8% to 290.97 RMB/ton, driven by higher material and labor costs[14]. - The unit sales cost of polyolefins decreased by 5.8% to RMB 5,899 per ton in Q1 2024, compared to RMB 6,262 per ton in Q1 2023[16]. - The unit sales cost of urea decreased by 15.0% to RMB 1,561 per ton in Q1 2024, down from RMB 1,837 per ton in Q1 2023[16]. Assets and Equity - Total assets at the end of Q1 2024 were RMB 351,793,888, reflecting a 0.7% increase from the end of the previous year[2]. - The total equity attributable to shareholders at the end of Q1 2024 was RMB 149,762,696, an increase of 3.9% from RMB 144,121,015 at the end of the previous year[2]. Shareholder Information - The total number of ordinary shareholders as of March 31, 2024, was 91,795, with the largest shareholder, China Coal Energy Group, holding 57.38% of the shares[17]. - China Coal Energy Group increased its holdings by 500,000 A-shares, representing approximately 0.0038% of the total share capital[20]. - As of March 31, 2024, China Coal Energy Group held a total of 7,607,243,708 A-shares, accounting for 57.38% of the total issued share capital[20]. - The top ten shareholders collectively hold significant stakes, with HKSCC Nominees Limited holding 29.87% of the shares[17]. - The company reported a total of 13,457,459 shares held by a securities investment fund, representing 0.10% of total shares[21]. - The company noted that 19,442,059 shares were held in margin trading accounts, accounting for 0.15% of total shares[21]. - The company has not indicated any changes in the top 10 shareholders due to margin trading activities compared to the previous period[21]. Future Plans - The company plans to enhance production efficiency and expand sales channels to mitigate the impact of declining coal prices[10]. - The company plans to continue exploring market expansion and new product development strategies in the upcoming quarters[15].

Financial Performance - The company achieved a revenue of RMB 193 billion in 2023, a decrease of RMB 27.6 billion or 12.5% year-on-year due to falling coal and coal chemical prices[3]. - The profit attributable to shareholders increased to RMB 20.2 billion, up RMB 400 million or 2.3% year-on-year, with a return on equity of 14.71%[3]. - For the fiscal year ending December 31, 2023, the company achieved a pre-tax profit of CNY 33.695 billion, a decrease of 2.6% compared to the previous year, but a growth of 20.9% compared to 2021, with a three-year compound growth rate of 10.0%[8]. - The company's net cash inflow from operating activities was CNY 42.965 billion, maintaining over CNY 40 billion for three consecutive years, reflecting strong cash management capabilities[8]. - The gross profit for the year was CNY 41.583 billion, a decline of 16.2% from CNY 49.598 billion in the previous year[9]. - The company reported a net profit attributable to shareholders of CNY 20.184 billion, an increase of 2.3% year-on-year, and a growth of 33.0% compared to 2021[8]. - The coal business revenue decreased by 14.8% to 162.68 billion CNY from 190.92 billion CNY in the previous year[12]. - The company reported a significant decrease in the revenue from the trading coal segment, which fell by 21.7% to 81.49 billion CNY[12]. Production and Sales - The company produced 134.22 million tons of self-produced commercial coal, an increase of 15.05 million tons or 12.6% year-on-year, and sold 133.91 million tons, up 13.57 million tons or 11.3% year-on-year[3]. - The total coal sales volume reached 284.94 million tons, representing an 8.4% increase from 262.95 million tons in the previous year[69]. - The sales volume of self-produced coal increased by 1.357 million tons, contributing an additional CNY 9.713 billion in revenue[19]. - The company reported a coal sales volume of 13.391 million tons from self-produced coal, reflecting an 11.3% increase year-on-year[69]. - The production of major coal chemical products reached 6.036 million tons, a year-on-year increase of 6.5%[71]. - The sales volume of major coal chemical products was 6.126 million tons, up 9.7% compared to the previous year[71]. Cost Management - The unit sales cost of self-produced commercial coal decreased by RMB 13 per ton or 3.6%, contributing an additional profit of RMB 1.8 billion[4]. - The total sales cost of the coal business decreased by 13.1% from CNY 147.830 billion in 2022 to CNY 128.412 billion in 2023[21]. - The cost of sales for the year ended December 31, 2023, was 151.39 billion CNY, down 11.5% from 170.98 billion CNY in 2022[15]. - The sales cost of the coal chemical business segment declined by 7.5% to 18.472 billion RMB, attributed to lower procurement prices of raw and fuel coal[27]. Capital Structure and Investments - The capital structure improved with a debt-to-equity ratio decreasing by 5.8 percentage points to 28.5%[3]. - The company's total assets increased to 349.16 billion CNY as of December 31, 2023, up 2.8% from 339.73 billion CNY in 2022[10]. - Total liabilities decreased to 166.63 billion CNY, a reduction of 4.7% from 174.84 billion CNY in the previous year[10]. - The company plans to allocate CNY 16.01 billion for capital expenditures in 2024, representing a 1.6% increase from 2023[95]. - The company invested CNY 2.25 billion in technology upgrades and renewals, completing 150.15% of the planned CNY 6.13 billion[91]. Innovation and Technology - The company received 29 industry-level technology advancement awards and was granted 273 patents, showcasing its commitment to innovation and technology development[6]. - The company has completed the construction of 46 intelligent mining faces, with two winning national awards for innovation[66]. - The company established 46 intelligent mining faces and launched the first 120-ton electric heavy truck in the Anjialing open-pit mine, enhancing its smart manufacturing capabilities[101]. - The company is focusing on the clean and efficient transformation of coal, emphasizing the development of modern coal chemical industries such as coal-to-olefins and coal-to-urea[79]. Environmental Responsibility - The company has been recognized as a "Leader" in carbon peak actions for 2023 and was included in the top 50 companies for carbon neutrality contributions in China[109]. - The company has implemented a comprehensive pollution prevention strategy, focusing on air pollution control and wastewater treatment, with an emphasis on increasing wastewater reuse rates[108]. - The company is committed to green development and has not experienced any sudden environmental incidents during the reporting period[108]. - The company is actively promoting the comprehensive utilization of solid waste and hazardous waste management, including the use of coal gangue in mining operations[108]. Governance and Management - The total compensation for directors, supervisors, and senior management during the reporting period amounted to RMB 7.775 million[111]. - The company has a comprehensive remuneration structure that includes basic salary, bonuses, social insurance, and corporate annuities for directors, supervisors, and senior management[121]. - The company emphasizes the experience and qualifications of its senior management team, with extensive backgrounds in legal affairs, human resources, and financial management[118][119]. - The company has established 5 specialized committees under the board of directors to enhance governance and oversight[198]. Market and Strategic Outlook - The company is focusing on enhancing production efficiency and risk management to support high-quality development, aiming for a "zero death" safety target[84]. - The company plans to continue optimizing its industrial layout and accelerate green low-carbon transformation in line with the "14th Five-Year Plan" and the goal of becoming a world-class energy enterprise[6]. - The company aims to achieve high-quality development through green mining practices, with comprehensive energy consumption and resource utilization rates maintaining industry-leading levels in 2023[86]. - The company is committed to modernizing energy comprehensive services, emphasizing equipment manufacturing and innovative business models[98].

Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 192.97 billion, a decrease of RMB 27.61 billion (12.5%) compared to 2022[1]. - Profit attributable to shareholders for 2023 was RMB 20.18 billion, an increase of RMB 0.45 billion (2.3%) from 2022[1]. - Basic earnings per share for 2023 were RMB 1.52, up RMB 0.03 from 2022[3]. - EBITDA for 2023 was RMB 44.75 billion, an increase of RMB 0.86 billion (2.0%) compared to the previous year[1]. - Gross profit for the year was RMB 41.58 billion, down from RMB 49.60 billion in 2022[2]. - Operating profit for 2023 was RMB 33.51 billion, slightly up from RMB 33.30 billion in 2022[2]. - Total revenue for 2023 was RMB 192,968,833 thousand, down 12.5% from RMB 220,576,859 thousand in 2022[21]. - The company reported a total of RMB 206,932,832 thousand in segment revenue for 2023, down from RMB 234,196,814 thousand in 2022[24]. - The total comprehensive income for the year 2022 reached RMB 27,825,807 thousand, up from RMB 27,804,821 thousand prior to the revision[12]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 349.16 billion, an increase from RMB 339.73 billion in 2022[4]. - Non-current assets totaled RMB 229.49 billion, up from RMB 215.82 billion in the previous year[4]. - Current assets decreased to RMB 119.67 billion from RMB 123.91 billion in 2022[4]. - Total liabilities decreased from RMB 174,841,441 thousand in 2022 to RMB 166,631,766 thousand in 2023, a reduction of approximately 4.3%[5]. - Total equity increased from RMB 164,888,788 thousand in 2022 to RMB 182,523,561 thousand in 2023, representing a growth of about 10.7%[5]. - Current liabilities totaled RMB 98,157,965 thousand in 2023, down from RMB 104,998,190 thousand in 2022, indicating a decrease of approximately 6.5%[5]. - Non-current liabilities amounted to RMB 68,473,801 thousand in 2023, slightly down from RMB 69,843,251 thousand in 2022, a decrease of about 2.0%[5]. - The retained earnings rose from RMB 64,804,080 thousand in 2022 to RMB 77,280,846 thousand in 2023, marking an increase of about 19.2%[5]. Dividends - The board proposed a final dividend of RMB 0.442 per share for 2023, subject to approval at the annual general meeting[1]. - The proposed final dividend for the year ended December 31, 2023, is approximately RMB 5,860,215,000, subject to approval at the annual general meeting[33]. - The company distributed a cash dividend of 5,472,160,500 CNY, which is 30% of the net profit attributable to shareholders of 18,240,535,000 CNY for the year 2022, resulting in a distribution of 0.413 CNY per share[145]. - The company proposed a cash dividend of 5,860,214,700 CNY, which is 30% of the net profit attributable to shareholders of 19,534,049,000 CNY for the year ending December 31, 2023, resulting in a distribution of 0.442 CNY per share[147]. Market Performance - Domestic market revenue for 2023 was RMB 190,834,157 thousand, a decrease of 12.7% from RMB 218,536,929 thousand in 2022[19]. - The overseas market revenue for 2023 was RMB 2,134,676 thousand, slightly up from RMB 2,039,930 thousand in 2022[19]. - The coal segment remains a primary focus, encompassing production and sales of coal, while the coal chemical segment also contributes significantly to overall performance[15]. - The coal business revenue fell by 14.8% to CNY 1,626.81 billion, with self-produced coal sales down 6.4% to CNY 806.19 billion and purchased trade coal sales down 21.7% to CNY 814.88 billion[75]. Production and Sales - The company produced 134.22 million tons of self-produced commercial coal, an increase of 15.05 million tons or 12.6% year-on-year, and sold 133.91 million tons, up 13.57 million tons or 11.3% year-on-year[59]. - The total sales volume of self-produced coal reached 13,391,000 tons, an increase of 11.3% compared to 12,034,000 tons in 2022, while the average selling price decreased by 15.9% to 602 RMB/ton from 716 RMB/ton[76]. - The total coal sales volume reached 284.94 million tons, with self-produced coal sales increasing by 11.3% to 133.91 million tons[125]. - The company achieved a total coal production of 134.22 million tons, an increase of 15.05 million tons year-on-year, despite a decline in the average selling price of self-produced coal[64]. Financial Management - The company incurred interest expenses of RMB 2,381,979 thousand, while interest income was reported at RMB 570,066 thousand, resulting in a net interest expense of RMB 1,811,913 thousand[17]. - Interest expenses decreased to RMB 3,099,916,000 in 2023 from RMB 3,863,142,000 in 2022, a reduction of about 19.8%[27]. - The net financial expenses for 2023 were RMB 2,994,925,000, a decrease of approximately 19.7% from RMB 3,728,007,000 in 2022[27]. - The company capitalized financial expenses at a rate of 3.42%-4.73% for 2023, compared to 3.45%-4.89% in 2022[27]. Strategic Initiatives - The company has plans for market expansion and new product development, although specific figures and timelines were not disclosed during the call[17]. - The company aims to enhance its core competitiveness and innovation capabilities while focusing on green and low-carbon transformation[63]. - The company is focusing on the clean and efficient transformation of coal, developing modern coal chemical industries such as coal-to-olefins and coal-to-urea[136]. - The company is committed to improving operational efficiency and reducing costs, with a focus on centralized management of finance, investment, and procurement[138]. Corporate Governance - The company is committed to improving corporate governance and has adhered to the corporate governance code as of December 31, 2023[146]. - Ernst & Young has been appointed as the auditor for the financial statements prepared in accordance with international financial reporting standards, providing an unqualified opinion[150]. - The annual report for 2023 will be disclosed on the company's website and the Stock Exchange website by April 30, 2024[150]. Employee and Workforce - The company has a workforce of 47,122 employees as of December 31, 2023, an increase from 46,450 employees in 2022[146]. - Employee costs increased by 10.4% to 737.4 million RMB, driven by higher workforce expenses[79].

Financial Performance - Operating revenue for Q3 2023 was RMB 46,851,788, a decrease of 18.2% compared to RMB 57,306,211 in the same period last year[2] - Net profit attributable to shareholders for Q3 2023 was RMB 4,853,144, down 18.5% from RMB 5,951,443 year-on-year[2] - The net profit excluding non-recurring gains and losses for Q3 2023 was RMB 4,817,585, reflecting an 18.6% decrease compared to RMB 5,918,098 in the previous year[2] - The weighted average return on equity decreased to 3.45% in Q3 2023, down 1.19 percentage points from 4.64% in the same period last year[2] - For the first nine months of 2023, the net profit attributable to shareholders was RMB 16,688,039, a decrease of 13.4% from RMB 19,327,686 in the same period of 2022[6] Asset and Liability Overview - Total assets as of the end of Q3 2023 were RMB 340,223,173, representing a 1.6% increase from the previous year[2] - The company's total assets as of September 30, 2023, were RMB 143,390,727, an increase from RMB 130,864,820 as of December 31, 2022[6] - The company's total liabilities decreased by 36.4% to RMB 19,821,066 from RMB 31,168,160, primarily due to the repayment of long-term borrowings and bonds[8] Production and Sales Metrics - Coal production for the first nine months of 2023 reached 10,117,000 tons, an increase of 10.0% from 9,200,000 tons in the same period last year[5] - Urea production increased by 18.6% to 153,200 tons in the first nine months of 2023, compared to 129,200 tons in the previous year[5] - The company reported a total of 21,480,000 tons of coal sales in the first nine months of 2023, which is a 5.1% increase from 20,442,000 tons year-on-year[5] - The total sales volume of self-produced coal for 2023 reached 9,967,000 tons, an increase of 780,000 tons or 8.5% compared to 2022[11] - The sales volume of major coal chemical products increased to 110.5 million tons, up 3.0% from 107.3 million tons in 2022[15] - The sales volume of methanol increased by 12.7% to 146.5 million tons in 2023, compared to 130.0 million tons in 2022[15] Revenue and Cost Analysis - The company's coal business achieved sales revenue of RMB 132.37 billion, down 12.4% from RMB 151.18 billion year-on-year, primarily due to a decrease in sales prices[10] - The sales cost of the coal business for the first nine months of 2023 was RMB 100.91 billion, a decrease of 9.4% from RMB 111.42 billion in the same period last year[10] - The gross profit from the coal business was RMB 31.46 billion, down 20.9% from RMB 39.76 billion year-on-year, reflecting the impact of market price declines[10] - Investment income for the first nine months of 2023 was RMB 2,508,065, a decrease of 36.2% from RMB 3,928,092 in the same period of 2022, mainly due to lower profits from coal and coal chemical products[9] - The average selling price of self-produced coal decreased by 17.4% to 603 RMB/ton in 2023 from 730 RMB/ton in 2022[11] - The average selling price of urea decreased by 9.0% to 2,408 RMB/ton in 2023 from 2,645 RMB/ton in 2022[15] - The unit sales cost of self-produced coal was 294.79 RMB/ton, a decrease of 11.39 RMB/ton or 3.7% year-on-year[14] - The unit sales cost of ammonium nitrate increased significantly by 71.1% to 1,619 RMB/ton in 2023 from 946 RMB/ton in 2022[16] - The company reported a decrease in material costs by 8.9% to 54.53 RMB/ton in 2023 compared to 59.85 RMB/ton in 2022[13] Shareholder and Ownership Structure - The total number of ordinary shareholders at the end of the reporting period was 101,570, with the largest shareholder holding 57.36% of the shares[17] - As of September 30, 2023, China Coal Energy Group holds 7,605,207,608 shares, representing the largest shareholder position[18] - HKSCC Nominees Limited holds 3,958,922,469 shares, indicating significant foreign investment in the company[18] - Fude Life Insurance Co., Ltd. holds 2,012,858,147 H shares, reflecting strong institutional interest[20] - The company has a total of 10 major shareholders, with no significant changes in their financing or margin trading activities reported[18] - The shareholder structure includes both domestic and international investors, highlighting a broad base of support[19] Legal and Governance Matters - The company has faced legal challenges involving Yihua Mining, Mengda Mining, and Galaxy Hongtai, but these do not significantly impact its financial status[20] - The company emphasizes compliance with legal standards while protecting its rights amid ongoing litigation[20] - The board of directors is led by Chairman Wang Shudong, with a diverse team of executive and non-executive members[20] - The company is committed to maintaining transparency and providing updates on operational conditions to investors[20] - The company’s financial health remains stable despite external legal pressures, ensuring continued operational integrity[20]