Core Viewpoint - Jiutai Bonda Energy (02798) expects a significant decline in 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% [1] Summary by Relevant Categories Financial Performance - The company anticipates a drastic reduction in net profit due to a sharp decline in coking coal prices, which has severely compressed the gross profit margin [1] - The projected net profit for the first half of 2025 is expected to be between RMB 6 million and 10 million, indicating a substantial decrease compared to previous periods [1] Operational Challenges - Geological complexities at the Hongguo and Baogushan coal mines have slowed operational progress and reduced coal mine utilization rates, leading to increased costs associated with preparatory work 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 expansions, and the development of compliant waste landfills [1]

Core Viewpoint - Jiutai Bonda Energy (02798) expects a significant decline in net profit after tax 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% [1] Summary by Relevant Categories Financial Performance - The company anticipates a drastic reduction in net profit due to a sharp decline in coking coal prices, which has severely impacted coal selling prices and compressed the company's gross margin [1] - The projected net profit for the first half of 2025 is between RMB 6 million and 10 million, indicating a substantial decrease compared to previous periods [1] 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 expansions, and the development of compliant waste landfills [1]

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 ...

Group 1 - The core viewpoint of the article highlights a collective rise in Hong Kong coal stocks, with notable increases in smaller companies such as Huile Resources and Jinma Energy, which rose over 9% and 7% respectively [1][2] - China Shenhua Energy's controlling shareholder, the State Energy Investment Group, has initiated a plan to inject assets worth hundreds of billions into the listed company to address competition issues within the industry [2] - This transaction is expected to enhance China Shenhua's coal resource strategic reserves and integrated operational capabilities, deepening the company's energy supply chain layout [2] Group 2 - Analysts suggest that the acquisition by China Shenhua signifies a transition in the coal industry from "fragmented competition" to "oligopolistic monopoly," where leading companies with advantages in resources, transportation, and capital will further dominate the market through mergers and acquisitions [2] - As an "industry pricing anchor," China Shenhua's capacity expansion is anticipated to strengthen its influence on long-term coal prices and market coal prices, potentially mitigating significant price fluctuations [2]

Group 1 - The coal stocks in Hong Kong experienced a collective decline, with notable drops in several companies [1] - Green Leader Holdings fell nearly 8%, while China Coal Energy dropped over 4% [1] - Other companies such as South Resources, Mongolian Coking Coal, and Yancoal Australia also saw declines exceeding 3% [1] Group 2 - Specific stock performance includes: - Green Leader Holdings: -7.84% at a price of 0.094 with a market cap of 49.4685 million [2] - China Coal Energy: -4.23% at a price of 9.730 with a market cap of 129.007 billion [2] - South Resources: -3.92% at a price of 0.245 with a market cap of 1.88 million [2] - Mongolian Coking Coal: -3.76% at a price of 7.930 with a market cap of 8.226 billion [2] - Yancoal Australia: -3.18% at a price of 31.950 with a market cap of 42.188 billion [2] - China Shenhua: -2.30% at a price of 33.950 with a market cap of 674.536 billion [2]

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]

Financial Performance - Perennial Energy Holdings Limited reported a significant increase in revenue, reaching HKD 1.2 billion, representing a 25% year-over-year growth[1]. - The company achieved a net profit of HKD 300 million, which is a 15% increase compared to the previous period[1]. - The company reported a cash flow from operations of HKD 400 million, indicating strong liquidity and financial health[1]. - The Group recorded total revenue of approximately RMB868.2 million, representing an increase of approximately 34.1% from the corresponding period of last year[25]. - The net profit for the period was approximately RMB 257.6 million, reflecting a year-on-year increase of about 70.8%[37]. - Basic earnings per share rose to 16.10 RMB cents, compared to 9.42 RMB cents for the same period in 2023[68]. - Gross profit increased by approximately 52.1% YoY to approximately RMB481.0 million, with a gross profit margin of approximately 55.4%[28]. - The gross profit rose from approximately RMB 316.3 million to about RMB 481.0 million, representing a year-on-year increase of 52.1%, with a gross profit margin of approximately 55.4%[31]. User Growth and Market Expansion - User data indicates a growth in active users by 40%, totaling 500,000 users as of the reporting date[1]. - The company has outlined a future outlook projecting a revenue growth of 30% for the next fiscal year[1]. - Market expansion plans include entering two new regions in Southeast Asia by the end of the fiscal year[1]. - New product launches are expected to contribute an additional HKD 200 million in revenue over the next six months[1]. Production and Operational Capacity - The Group operates three underground coal mines in Panzhou City, Guizhou Province[6]. - As of June 30, 2024, the total permitted annual production capacity for the Group's coal mines is 2,250 kilotonnes, with Hongguo Coal Mine at 600 kilotonnes, Baogushan Coal Mine at 1,200 kilotonnes, and Xiejiahegou Coal Mine at 450 kilotonnes[12]. - The total raw coal production for the period was 775,928 tonnes, with Hongguo Coal Mine producing 252,240 tonnes, Baogushan Coal Mine producing 347,090 tonnes, and Xiejiahegou Coal Mine producing 176,598 tonnes[16]. - The actual production for the six months ended June 30, 2024, was 775,928 tonnes, compared to 583,324 tonnes for the same period in 2023, reflecting a significant increase[16]. - The Baogushan Coal Mine successfully expanded its permitted annual production capacity from 600 kilotonnes to 1,200 kilotonnes as of February 6, 2024[12]. Coal Market and Demand - The recovery in the steel industry has bolstered demand for coking coal, a vital raw material for steel production[5]. - The demand for coking coal is expected to remain stable in the second half of 2024, despite concerns about price fluctuations due to increased imports[36]. - The implementation of various industrial projects in Guizhou Province ensured a substantial and growing demand for coal[5]. - The company anticipates that China will import over 500 million tonnes of coal in 2024, which may lead to concerns about a potential decline in overall coal prices[36]. Financial Position and Liabilities - As of June 30, 2024, bank balances and cash amounted to approximately RMB98.0 million, an increase from approximately RMB93.7 million on December 31, 2023[41]. - The Group recorded net current liabilities of approximately RMB385.7 million as of June 30, 2024, but management believes there will be sufficient working capital to meet financial obligations in the foreseeable future[45]. - The Group's gearing ratio increased to approximately 0.37 as of June 30, 2024, compared to approximately 0.33 on December 31, 2023, primarily due to an increase in bank and other borrowings[43]. - Total secured bank borrowings as of June 30, 2024, were RMB 1,095,974,000, up 20% from RMB 913,854,000 as of December 31, 2023[99]. Shareholding and Corporate Governance - As of June 30, 2024, Mr. Yu Bangping holds 864,000,000 shares of the Company, representing 54.00% of the total issued shares of 1,600,000,000[58]. - The Company is required to notify the Stock Exchange of any interests or short positions under the Securities and Futures Ordinance[60]. - The Group complied with all provisions of the Corporate Governance Code during the six months ended June 30, 2024[55]. Employee and Operational Costs - Employee costs totaled approximately RMB 47.1 million for the six months ended June 30, 2024, compared to approximately RMB 38.2 million for the same period in 2023, reflecting an increase of about 23.5%[52]. - The Group's total other gains and losses for the six months ended June 30, 2024, included a net exchange loss of RMB (2,169,000), compared to a loss of RMB (3,833,000) in the same period last year, indicating an improvement in exchange losses[80]. Research and Development - The company is investing HKD 150 million in research and development for new technologies aimed at enhancing operational efficiency[1]. - Research and development costs for the six months ended June 30, 2024, were RMB 26,411,000, slightly down from RMB 27,146,000 in the previous year, showing a decrease of about 2.7%[81].

Financial Performance - Revenue for the six months ended June 30, 2024, was approximately RMB 868.2 million, representing a year-on-year increase of about 34.1% compared to RMB 647.4 million for the same period in 2023[2]. - Gross profit for the same period was approximately RMB 481.0 million, reflecting a year-on-year increase of about 52.1% from RMB 316.3 million[2]. - Total profit and comprehensive income for the period was approximately RMB 257.6 million, a year-on-year increase of about 70.8% compared to RMB 150.8 million[2]. - Basic earnings per share were approximately RMB 16.10, compared to RMB 9.42 for the same period in 2023[2]. - The Group recorded total revenue of approximately RMB868.2 million, representing an increase of approximately 34.1% from the corresponding period of last year[27]. - The net profit for the period was approximately RMB 257.6 million, reflecting a year-on-year increase of about 70.8%[39]. - Profit before taxation increased to RMB 304,443,000, a 66.5% rise compared to RMB 183,057,000 in the prior year[70]. - For the six months ended June 30, 2024, the profit attributable to owners of the Company was RMB 257,586,000, compared to RMB 150,776,000 for the same period in 2023, representing an increase of 70.8%[73]. Production and Operations - The total raw coal production for the period was 775,928 tonnes, with Hongguo Coal Mine producing 252,240 tonnes, Baogushan Coal Mine producing 347,090 tonnes, and Xiejiahegou Coal Mine producing 176,598 tonnes[18]. - The total permitted annual production capacity of the Group's coal mines is 2,250 kilotonnes, with Hongguo Coal Mine at 600 kilotonnes, Baogushan Coal Mine at 1,200 kilotonnes, and Xiejiahegou Coal Mine at 450 kilotonnes[14]. - The Group operates three underground coal mines in Guizhou Province, with significant resource and reserve data reported as of June 30, 2024[8]. - The total marketable reserves for the three mines include 9,333 kt of clean coal and 3,295 kt of middling coal[10]. - The actual production from Hongguo Coal Mine was 252,240 tonnes, which reflects a utilisation rate of 42.0%[18]. - The total production capacity of Songshan CPP is 2.4 million tonnes per annum, while Xiejiahegou CPP has a capacity of 1.8 million tonnes per annum[19]. - The Group's coal mines had a total permitted annual production capacity of 2,250,000 tonnes, with actual production of 775,928 tonnes during the six months ended June 30, 2024[15]. Market and Demand - The recovery in the steel industry has bolstered demand for coking coal, a vital raw material for steel production[5]. - The Group anticipates continued growth in coal demand driven by local industrial developments and recovery in related sectors[5]. - The implementation of various industrial projects in Guizhou has ensured a substantial and growing demand for coal within the province[5]. - The demand for coking coal is expected to remain stable in the second half of 2024, despite concerns about overall coal price declines[38]. Pricing and Sales - The average selling price of clean coal increased by approximately 4.0% YoY to approximately RMB1,989.63/tonne, while the average selling price of middling coal surged by approximately 37.2% YoY to approximately RMB393.62/tonne[23]. - The sales volume of clean coal increased by approximately 25.0% YoY to approximately 397,635 tonnes, and the sales volume of middling coal surged by approximately 75.1% YoY to approximately 160,397 tonnes[25]. - The sales revenue of clean coal increased by approximately 29.9% to approximately RMB791.1 million, while the sales revenue of middling coal increased by approximately 140.3% to approximately RMB63.1 million[29]. Financial Position and Liabilities - As of June 30, 2024, bank balances and cash amounted to approximately RMB98.0 million, an increase from approximately RMB93.7 million as of December 31, 2023[43]. - Secured bank borrowings from factoring of receivables amounted to approximately RMB460.5 million as of June 30, 2024, up from approximately RMB241.8 million as of December 31, 2023[43]. - The Group recorded net current liabilities of approximately RMB385.7 million as of June 30, 2024, but management believes there will be sufficient working capital to meet financial obligations in the foreseeable future[47]. - The Group's gearing ratio increased to approximately 0.37 as of June 30, 2024, compared to approximately 0.33 as of December 31, 2023, primarily due to an increase in bank and other borrowings[45]. - The Group's trade receivables totaled RMB 202,714,000, a decrease of 41.8% from RMB 348,479,000 as of December 31, 2023[93]. Employee and Operational Costs - Employee costs for the six months ended June 30, 2024, totaled approximately RMB 47.1 million, an increase from approximately RMB 38.2 million for the same period in 2023[54]. - Distribution and selling expenses increased by approximately 29.7% to about RMB 46.3 million, mainly due to rising coal transportation costs[36]. - Total staff costs for the period amounted to RMB 47,124,000, compared to RMB 38,237,000 for the previous year, reflecting a year-on-year increase of approximately 23.5%[83]. Corporate Governance and Shareholding - The Group complied with all provisions of the Corporate Governance Code during the six months ended June 30, 2024[57]. - As of June 30, 2024, Mr. Yu Bangping holds 864,000,000 shares of the company, representing 54.00% of the total issued shares of 1,600,000,000[60]. - No other directors or the chief executive of the company had any interests or short positions in the shares, underlying shares, and debentures of the company or its associated corporations as of June 30, 2024[62]. Capital Commitments and Investments - Capital commitments as of June 30, 2024, include approximately RMB122.5 million for the acquisition of Panzhou Power Generation Co and RMB29.3 million for property, plant, and equipment[49]. - The Group made an additional capital injection of RMB 294,000,000 into its associate, PowerChina Panzhou Low Calorific Value Coal Power Generation, during the period[92]. - The final committed capital injection of RMB 122,500,000 to the associate is scheduled for March 31, 2025[92]. Taxation and Dividends - The taxation charge for the six months ended June 30, 2024, was RMB 46,857,000, an increase of 45% compared to RMB 32,281,000 for the same period in 2023[84]. - The final dividend declared for the interim period was HK$ 80,000,000 (equivalent to RMB 72,496,000), a decrease of 60% from HK$ 200,000,000 (equivalent to RMB 178,660,000) in the previous year[85].