Core Viewpoint - Jiutai Bonda Energy (02798) is expected to report a significant decline in after-tax net profit for the first half of 2025, projecting a profit of approximately RMB 6 million to 10 million, representing a year-on-year decrease of about 97.6% to 99.9% due to various operational challenges and market conditions [1] Group 1: Financial Performance - The company anticipates a drastic reduction in after-tax net profit for the first half of 2025, estimating between RMB 6 million to 10 million [1] - This projection indicates a year-on-year decline of approximately 97.6% to 99.9% [1] Group 2: Market Conditions - The decline in profit is primarily attributed to a significant drop in the market price of premium coal, which has severely reduced coal prices and compressed the company's gross margin [1] Group 3: Operational Challenges - Geological complexities at the Hongguo and Baogushan coal mines have slowed operational progress, reduced coal mine utilization rates, and increased costs related to underground preparation and waste disposal [1] - Despite implementing operational efficiency measures, the company faces rising compliance-related costs due to increased safety management expenses, land compensation for expansion, and the development of compliant waste landfills [1]

Core Viewpoint - Jiutai Bonda Energy (02798) is expected to report a significant decline in after-tax net profit for the first half of 2025, projecting a profit of approximately RMB 6 million to 10 million, representing a year-on-year decrease of about 97.6% to 99.9% due to various operational challenges and market conditions [1] Group 1 - Jiutai Bonda Energy's stock has dropped over 9%, currently trading at HKD 0.76 with a transaction volume of HKD 3.1026 million [1] - The primary reason for the profit decline is the sharp drop in the market price of premium coal, which has significantly reduced coal prices and compressed the group's gross margin [1] - Operational challenges include complex geological conditions at the Hongguo and Baogushan coal mines, which have slowed operational progress, reduced coal mine utilization rates, and increased costs related to underground preparation and waste disposal [1] Group 2 - Despite implementing operational efficiency measures, the company continues to face rising compliance-related costs due to increased safety management expenses, land compensation for expansion, and the development of compliant waste landfills [1]

公告称，预期纯利减少主要归因于以下因素：于相关期间，精煤市价大跌，大幅拉低了煤炭售价，从而 直接压缩了集团的毛利率;红果煤矿和苞谷山煤矿的井下工作面地质情况复杂，拖慢了营运进度、降低 了煤矿使用率，并增加了在井下工作面进行准备工作及弃置废物的相关成本;及尽管已实施营运效率措 施，但受安全管理成本剧增、扩建土地补偿及合规废弃物填埋场发展所影响，合规相关成本持续上升。 智通财经APP讯，久泰邦达能源(02798)公布，该集团预期于2025年上半年取得除税后纯利约人民币600 万至10万元，同比减少约97.6%至99.9%。 ...

久泰邦达能源(02798)公布，该集团预期于2025年上半年取得除税后纯利约人民币600万至10万元，同比 减少约97.6%至99.9%。 公告称，预期纯利减少主要归因于以下因素：于相关期间，精煤市价大跌，大幅拉低了煤炭售价，从而 直接压缩了集团的毛利率;红果煤矿和苞谷山煤矿的井下工作面地质情况复杂，拖慢了营运进度、降低 了煤矿使用率，并增加了在井下工作面进行准备工作及弃置废物的相关成本;及尽管已实施营运效率措 施，但受安全管理成本剧增、扩建土地补偿及合规废弃物填埋场发展所影响，合规相关成本持续上升。 ...

该预期减少主要归因于以下因素：1.于相关期间，精煤市价大跌，大幅拉低了煤炭售价，从而直接压缩 了集团的毛利率；2.红果煤矿和苞谷山煤矿的井下工作面地质情况复杂，拖慢了营运进度、降低了煤矿 使用率，并增加了在井下工作面进行准备工作及弃置废物的相关成本；及3.尽管已实施营运效率措施， 但受安全管理成本遽增、扩建土地补偿及合规废弃物填埋场发展所影响，合规相关成本持续上升。 格隆汇8月4日丨久泰邦达能源(02798.HK)公告，集团预计截至2025年6月30日止六个月的除税后纯利介 于约人民币6百万元至人民币0.1百万元，相较2024年同期的约人民币257.6百万元分别减少约97.6%至 99.9%。 ...

久泰邦達能源控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2798） 內幕消息 盈利預警 本 公 告 乃 由 久 泰 邦 達 能 源 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09條及香港 法例第571章《證 券 及 期 貨 條 例》第XIVA部 項 下 的 內 幕 消 息 條 文（定 義 見 上 市 規 則）而 作 出。 除 另 有 界 定 者 外，本 公 告 所 用 詞 彙 與 本 公 司 於2025年4月23日刊發的2024年 年 報 所 界 定 者 具 有 相 同 涵 義。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Perennial Energy Holdings Limited 本公告所載資料僅以董事會對本集團於相關期間的未 ...

| 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 01303 | 汇力资源 | 0.290 | 9.43% | | 06882 | 金马能源 | 1.560 | 7.59% | | 02798 | 久泰邦达能源 | 0.850 | 2.41% | | 00866 | 中国泰发 | 1.810 | 1.69% | | 00276 | 蒙古能源 | 0.640 | 1.59% | | 01878 | 南戈壁 | 2.590 | 1.17% | | 03668 | 兖煤澳大利亚 | 31.820 | 1.02% | | 01898 | 中煤能源 | 9.720 | 1.04% | | 01277 | 力量发展 | 1.280 | 0.79% | | 01171 | 兖矿能源 | 8.990 | 0.45% | | 01088 | 中国神华 | 33.660 | 0.48% | 消息上，为了解决同业竞争问题，中国神华(601088.SH)控股股东国家能源投资集团有限责任公司（简 称"国家能源集团"）启动千亿级资产注入上市公司计划。此次交易后，预计将提升中国神华 ...

| 代码 | 名称 | | 涨跌幅 ^ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | --- | | 00061 | 绿领控股 | 0 | -7.84% | 0.094 | 4946.85万 | | 01898 | 中煤能源 | | -4.23% | 9.730 | 1290.07亿 | | 01229 | 南南资源 | | -3.92% | 0.245 | 1.88亿 | | 00975 | 蒙古焦煤 | | -3.76% | 7.930 | 82.26亿 | | 01738 | 飞尚无烟煤 | | -3.33% | 0.174 | 2.4亿 | | 03668 | 兖煤澳大利亚 | | -3.18% | 31.950 | 421.88亿 | | 01393 | 恒鼎实业 | | -2.86% | 0.068 | 3.13亿 | | 00866 | 中国泰发 | | -2.72% | 1.790 | 45.42亿 | | 01171 | 充矿能源 | | -2.50% | 8.970 | 900.36亿 | | 01088 | 中国神华 | | -2.30% | ...

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 1,706,108, a decrease of 0.7% from RMB 1,715,623 in 2023[13]. - Gross profit for 2024 was RMB 885,131, representing a gross profit margin of 51.9%, down from 55.0% in 2023[13]. - Profit and total comprehensive income for the year was RMB 440,229, a decline of 12.7% compared to RMB 504,193 in 2023[13]. - Basic earnings per share decreased to RMB 27.51 in 2024 from RMB 31.51 in 2023[13]. - The Group recorded revenue of approximately RMB 1,706.1 million, representing a slight decline of approximately 0.6% from approximately RMB 1,715.6 million last year[32]. - Gross profit was approximately RMB 885.1 million, with a gross profit margin of approximately 51.9%, reflecting a decrease of approximately 6.3% and 3.1 percentage points respectively compared to the previous year[32]. - The Group's net profit for the year was approximately RMB 440.2 million, a decrease of approximately 12.7% YoY from RMB 504.2 million in 2023, primarily due to a decline in clean coal prices[118]. - The gross profit decreased from approximately RMB 944.3 million in 2023 to approximately RMB 885.1 million in 2024, reflecting a decrease of approximately 6.3% year-on-year[104]. Assets and Liabilities - Total assets increased to RMB 4,859,031 in 2024, up from RMB 4,329,247 in 2023, reflecting a growth of 12.2%[13]. - Total liabilities rose to RMB 1,703,122 in 2024, compared to RMB 1,541,071 in 2023, marking an increase of 10.5%[13]. - The gearing ratio increased to 37.6% in 2024 from 32.8% in 2023[13]. - Bank borrowings as of December 31, 2024, totaled approximately RMB 711.3 million, secured by the Group's bills receivables and mining rights, compared to RMB 672.1 million in 2023[162]. - Secured other borrowings from factoring of bills receivables increased to approximately RMB 475.6 million, compared to approximately RMB 241.8 million in 2023[131]. - The Group recorded net current liabilities of approximately RMB 265.7 million as of December 31, 2024, but management believes there will be sufficient working capital to meet operational needs in the foreseeable future[144]. Production and Sales - The Group's raw coal production increased by approximately 10.6% to about 1,705 thousand tonnes in 2024, up from approximately 1,542 thousand tonnes in the previous year[31]. - Total sales volume of coal products rose by approximately 15.6% to around 1,416 thousand tonnes, compared to approximately 1,225 thousand tonnes last year[31]. - The total raw coal production for the year was approximately 1,705 thousand tonnes, with year-on-year increases of approximately 12.1%, 12.2%, and 6.4% from the Hongguo, Baogushan, and Xiejiahegou mines respectively[93]. - The total sales volume of coal products increased by approximately 15.6% year-on-year to approximately 1,416 thousand tonnes, up from approximately 1,225 thousand tonnes in 2023[97]. - The average selling price of clean coal decreased by approximately 7.5% year-on-year to approximately RMB 1,780 per tonne, while middling coal's average selling price increased by approximately 24.3% to RMB 399 per tonne[96][98]. Management and Leadership - Mr. Yu Bangping, the Chairman, has over 33 years of experience in the coal mining industry and has been with the Group since its founding in 1990[41]. - Mr. Yu Zhilong was appointed as the Chief Executive Officer in April 2023, bringing a background in business management and mining engineering[45]. - Mr. Li Xuezhong, the Chief Operating Officer, has extensive experience in corporate management and joined the Group in 2018[46]. - Mr. Lau Kai Ming, the Chief Financial Officer, has a strong background in financial management and auditing, having joined the Group in 2021[47]. - The leadership team includes experienced professionals with diverse backgrounds in mining and business management, ensuring strategic oversight[42]. Strategic Focus and Development - The Group aims to enhance its operational efficiency and sustainability in response to evolving external conditions[40]. - The Group's strategic planning focuses on sustainable development and adapting to regulatory changes in the mining sector[38]. - The Group is committed to high-quality development in the mining sector, aligning with the "Fukang Jingkai" policy in Guizhou Province, which emphasizes efficiency in resource utilization[38]. - The Company plans to explore strategies for cost reduction and efficiency improvement to ensure sustainable development amid ongoing pricing pressures[35]. - The transition towards greener operations is encouraged under the dual carbon policy, prompting coal enterprises to modernize processes and adopt sustainable practices[73]. Employee and Operational Costs - The Group's total staff costs, including Directors' remuneration, were approximately RMB 112.3 million for the year, compared to RMB 89.7 million in 2023[152]. - Employee costs for the year amounted to approximately RMB 112.3 million, up from RMB 89.7 million in 2023, reflecting a significant increase[156]. - Administrative expenses increased by approximately 20.0% YoY to approximately RMB 160.9 million, mainly due to higher staff-related costs[114]. Market Conditions and Challenges - China's GDP surpassed RMB 130 trillion for the first time in 2024, marking a year-on-year increase of 5.0%[25]. - The slowdown in infrastructure investment growth has negatively impacted the demand for coking coal in Guizhou, the province with the largest coal resources in Southern China[73]. - The coal mining industry faces challenges due to declining steel consumption linked to the underperformance of the real estate market[72]. - The Group's management emphasizes the importance of innovation and environmental responsibility for gaining a competitive edge in the evolving energy landscape[73]. Shareholder Returns - The company did not declare a dividend per share for 2024, down from HK 5.00 in 2023[13]. - The Group does not recommend the payment of any final dividend for the year ended December 31, 2024, compared to HK 5.00 cents per share in 2023[158]. - Distributable reserves as of December 31, 2024, were approximately RMB 9.8 million, a significant decrease from RMB 92.1 million in 2023[171].

Financial Performance - Total revenue for the year ended December 31, 2024, was approximately RMB 1,706.1 million, a decrease of about 0.6% compared to RMB 1,715.6 million in 2023[3] - Gross profit for the same period was approximately RMB 885.1 million, down approximately 6.3% from RMB 944.3 million in 2023[3] - Gross margin decreased to approximately 51.9%, down about 3.1 percentage points from 55.0% in 2023[4] - Net profit and total comprehensive income for the year was approximately RMB 440.2 million, a decrease of about 12.7% from RMB 504.2 million in 2023[4] - Basic earnings per share were approximately RMB 27.51, down from RMB 31.51 in 2023[5] - The company does not recommend declaring a final dividend for the year ended December 31, 2024, compared to a dividend of HKD 0.05 per share in 2023[6] - The group recorded a net profit of RMB 440,229,000 and a net operating cash outflow of RMB 423,940,000 for the year ending December 31, 2024[29] - The company's basic earnings attributable to shareholders for 2024 is RMB 440,229,000, down 12.7% from RMB 504,193,000 in 2023[43] - The company reported a pre-tax profit of RMB 527,054,000 for 2024, down 12.9% from RMB 605,204,000 in 2023[41] - Other income decreased by approximately 27.1% to about RMB 26.0 million, primarily due to a reduction in electricity sales[70] Assets and Liabilities - Non-current assets increased to RMB 3,722.7 million in 2024 from RMB 3,306.5 million in 2023[10] - Total equity increased to RMB 3,155.9 million in 2024 from RMB 2,788.2 million in 2023[11] - As of December 31, 2024, the group's net current liabilities amounted to RMB 265,709,000, with unpaid capital commitments of RMB 122,500,000 due within twelve months[29] - The total borrowings from bank and other loans amounted to approximately RMB 711.3 million as of December 31, 2024, compared to RMB 672.1 million in 2023[85] - The asset-liability ratio increased to approximately 0.38 as of December 31, 2024, up from 0.33 in 2023, primarily due to the increase in bank and other borrowings[87] - The group has a capital commitment of approximately RMB 122.5 million related to the acquisition of Pan Zhou Power Company as of December 31, 2024, down from RMB 416.5 million in 2023[95] Cash Flow and Financing - Cash and cash equivalents increased to RMB 177.1 million in 2024 from RMB 93.7 million in 2023[10] - The group has a total unused financing amount of RMB 555,177,000 as of the reporting date[29] - The financing costs increased by approximately 39.4% to about RMB 50.3 million, primarily due to increased interest expenses from bank loans[77] - The actual annual interest rate for bank borrowings was 5.5% for both 2024 and 2023[85] - The group has bank loans under supplier financing arrangements amounting to RMB 100,000,000 and other payables of RMB 26,000,000 as of December 31, 2024[50] Revenue Sources - Revenue from coal products and coalbed methane sales for 2024 was RMB 1,706,108,000, slightly down from RMB 1,715,623,000 in 2023[34] - Major customer A contributed RMB 942,040,000 to the total revenue in 2024, an increase from RMB 719,358,000 in 2023[37] - The sales revenue from premium coal decreased by approximately 4.2% to about RMB 1,551.6 million, while the sales revenue from medium coal increased by approximately 90.5% to about RMB 123.7 million[67] Production and Operational Efficiency - The total sales volume of coal products reached approximately 1,416,000 tons in the review year, representing a year-on-year growth of about 15.6%[65] - The total raw coal production for the group was approximately 1,705,000 tons, with a utilization rate of 71%[61] - The actual production of Xiejiahegou Coal Mine reached 450,000 tons, achieving a utilization rate of 100%[61] - The processing capacity of Songshan Washing Plant is 2,400,000 tons per year, while Xiejiahegou Washing Plant has a capacity of 1,800,000 tons per year[63] - The group aims to enhance operational efficiency and reduce environmental impact through modernization and sustainable practices in coal mining[56] Employee and Administrative Costs - The group’s total employee costs, including administrative and other expenses, amounted to RMB 112,275,000 in 2024, up from RMB 89,706,000 in 2023[38] - As of December 31, 2024, the group had a total of 3,699 employees, a decrease from 3,745 employees as of December 31, 2023[97] - Employee costs, including director remuneration, amounted to approximately RMB 112.3 million for the year, compared to RMB 89.7 million in 2023, reflecting a year-on-year increase of about 25.5%[97] Compliance and Governance - The company has complied with all corporate governance codes as of December 31, 2024, ensuring transparency and accountability[104] - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending December 31, 2024[107] - The annual report for the year ending December 31, 2024, will be made available to shareholders and published on the company's website[111] Market Outlook and Strategic Planning - The outlook for 2025 indicates that the domestic coal industry will be influenced by various factors, including downstream demand for coal and government policies aimed at stabilizing the real estate market[80] - The group will continue to enhance risk management and strategic planning capabilities to address domestic and international market challenges[83] - The group is adapting to industry changes by embracing innovation and environmental responsibility to gain a competitive advantage in a sustainable energy environment[56]