Financial Performance - The company reported a revenue of RMB 12,448.6 million for the year ended December 31, representing a year-on-year increase of 68.3%[22] - Net profit for the same period was RMB 570.8 million, reflecting a growth of 12.4% compared to the previous year[22] - The gross profit margin for the year ended December 31 was 9.2%, while the net profit margin was 4.6%[22] - The company's total assets increased by 31.7% to RMB 11,231.1 million as of December 31, 2022[35] - The overall gross margin for the company decreased from approximately 13.7% in 2021 to about 9.2% in 2022[44] - The company's net profit increased by approximately RMB 63.1 million to RMB 570.8 million in 2022[45] - The company's profit attributable to owners from continuing operations decreased to RMB 421.95 million in 2022 from RMB 486.37 million in 2021, representing a decline of approximately 13.2%[1] - Total comprehensive income for the year increased to RMB 570.75 million in 2022, up by 12.9% from RMB 505.46 million in 2021[111] - Revenue rose significantly by 68.3% to RMB 12,448.6 million in 2022, compared to RMB 7,398.3 million in 2021, primarily due to the full operation of the 1.8 million ton coking plant and a substantial increase in natural gas prices[94] Production and Capacity Expansion - The company has initiated a new capacity expansion project of 200,000 tons, with a total investment of approximately RMB 300 million, expected to be completed in Q3 2023[3] - The upgrade of two coking furnaces to a height of 7.65 meters has been completed, increasing annual production capacity from 1.2 million tons to 1.8 million tons, with production sales of approximately 160 million tons of high-quality coke[10] - The company has successfully commenced full production of a new advanced coking project with an annual capacity of approximately 1.8 million tons[37] - The company plans to enhance its phenolic chemical industry chain through the construction of a 200,000 tons/year hydrogenation refining unit, also expected to be completed in Q3 2023[15] - The company plans to establish two hydrogen refueling stations in Zhengzhou and Jiyuan, expected to be operational by the third quarter of 2023[48] - The company produced approximately 1,000 million cubic meters of gas for self-use and sales in 2022, with LNG production capacity at about 123 million cubic meters annually[83] Costs and Expenses - Employee costs reached approximately RMB 256.3 million, up from RMB 207.8 million in the previous year, indicating an increase of about 23.3%[5] - The average procurement price of coal rose by approximately 30% in 2022, impacting the gross margin of the coking segment, which fell from about 24.0% in 2021 to approximately 11.1% in 2022[44] - Financing costs for the company were RMB 94.18 million in 2022, up from RMB 48.29 million in 2021, representing an increase of approximately 95.4%[75] - Administrative expenses increased by 23.4% to RMB 173.1 million in 2022, compared to RMB 140.3 million in 2021, mainly due to new subsidiaries starting operations[107] - Sales and distribution expenses rose sharply to RMB 251.0 million in 2022 from RMB 104.4 million in 2021, driven by increased sales volume from the coking plant[96] Investments and Joint Ventures - The company has established a joint venture for the production and sale of coke, with the first phase of the project expected to commence operations by the end of 2022[11] - The company is expanding its focus on clean energy and the coking value chain, including investments in new energy projects[9] - The share of profits from joint ventures increased significantly to RMB 28.5 million in 2022, up from RMB 3.3 million in 2021, due to higher sales prices and margins for hydrogen products[99] Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.05 per share, totaling an annual dividend of RMB 0.10 per share for 2022[46] - The company declared an interim dividend of RMB 0.05 per share for the six months ended June 30, 2022, totaling RMB 26,771,050, compared to RMB 0.10 per share in 2021[55] - For the year ended December 31, 2022, the total proposed dividend was RMB 0.10 per share, amounting to RMB 53,542,100, which represents approximately 12.7% of the total comprehensive income attributable to shareholders[56] - The company has established a dividend policy to distribute no less than 25% of the annual profit attributable to shareholders, subject to compliance with relevant laws and regulations[55] Risks and Market Conditions - The company faces risks related to price fluctuations of its products and raw materials, particularly coal, which is affected by domestic and global economic cycles[68] - The demand for the company's derivative chemicals is influenced by oil prices, as they are often cost-competitive alternatives to petroleum-derived chemicals[63] - The company expects that fluctuations in coal supply and prices will continue to impact its operational costs and product pricing strategies[72] - The trading segment's revenue decreased by RMB 629.9 million or 41.5% in 2022, mainly due to reduced trading volume in the coke trading business[124] Corporate Governance - The company has revised its articles of association to enhance corporate governance in line with operational needs[175] - The company maintains a strong commitment to corporate governance and compliance with all relevant regulations[176] - The company’s management is focused on maintaining sufficient cash and cash equivalents to mitigate liquidity risks[178] - The board of directors held 4 meetings and passed 11 written resolutions during the year ended December 31, 2022[198] - All executive directors attended 100% of board meetings and shareholder meetings in 2022[198] - The board has established an authorization management system to clarify decision-making responsibilities and authority across various levels[199] - The chairman and CEO of the company are different individuals, with Mr. Rao serving as chairman and Mr. Wang as CEO[200]

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份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 河 南 金 馬 能 源 股 份 有 限 公 司 HENAN JINMA ENERGY COMPANY LIMITED （於中華人民共和國註冊成立的股份有限公司） （股票代號：6885） 截至2022年12月31日止年度全年業績公告 及 內幕消息－股息政策 財務摘要 收益 ：人民幣12,448.6.百萬元 股東應佔溢利 ：人民幣422.0百萬元 每股基本盈利 ：人民幣0.79元 建議每股末期股息 ：人民幣0.05元 業績 河南金馬能源股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本 ...

Financial Performance - The company's revenue for the first half of 2022 was RMB 6,528.8 million, representing a 115.1% increase compared to RMB 3,035.4 million in the same period of 2021[7]. - Gross profit increased by 36.1% to RMB 825.2 million, up from RMB 606.5 million year-on-year[7]. - Net profit for the period was RMB 484.1 million, a 41.2% increase from RMB 342.9 million in the previous year[7]. - Total assets as of June 30, 2022, reached RMB 10,262.0 million, reflecting a 20.4% increase from RMB 8,525.3 million at the end of 2021[7]. - Revenue increased by approximately RMB 3,493.4 million or 115.1% year-on-year, primarily due to the full production of a new 1.8 million ton coking oven[43]. - Cost of sales increased by approximately RMB 3,274.8 million or 134.8%, in line with the revenue increase[43]. - Gross profit increased by approximately RMB 218.6 million or 36.0%, but the gross margin decreased from about 20.0% in 2021 to about 12.6% in 2022[43]. - Total comprehensive income for the period increased by approximately RMB 143.5 million or 41.9%[52]. Operational Developments - The company is actively expanding its LNG and hydrogen production and sales business to enhance its vertical integration model[4]. - The company is focusing on maximizing the value of coking by-products through its integrated business model[4]. - The company aims to expand its coal chemical industry by actively seeking projects with substantial profit margins and development potential, including joint ventures[27]. - The company completed a project to upgrade two 4.3-meter high coke ovens to advanced 7.65-meter high ovens, increasing capacity from 1.2 million tons to 1.8 million tons per year, with total investment of approximately RMB 3.2 billion[28]. - A joint venture was established with Xinyang Steel to produce and sell coke, with the first phase of the coke oven expected to commence operations in December 2022, and total investment nearing RMB 1.8 billion[29]. - The company invested approximately RMB 1.78 billion in a new wastewater treatment project, utilizing advanced Israeli reverse osmosis technology with a processing capacity of 180 cubic meters per hour[33]. Market Conditions - The demand for the company's products is primarily driven by the domestic steel and chemical industries, with coke being a key raw material for steel production[12]. - The geopolitical situation in Eastern Europe has led to increased global energy commodity prices, contributing to inflation and downward pressure on the economy[21]. - In the first half of 2022, the average selling price of coke increased by 44.8% to approximately RMB 3,034 per ton, while the average cost of coking coal rose by 93.4% to approximately RMB 2,094 per ton, resulting in a narrowing of the average price spread by about 7.2%[21]. Financial Position - As of June 30, 2022, the group had total bank borrowings of RMB 2,579.0 million, an increase of RMB 778.2 million compared to the end of 2021[69]. - The group's cash and cash equivalents at the end of the period were RMB 868.7 million, an increase of RMB 292.0 million from the beginning of the year[63]. - The debt-to-equity ratio increased to 0.55 times as of June 30, 2022, from 0.42 times at the end of 2021[83]. - The return on equity (annualized) decreased to 9.3% for the six months ended June 30, 2022, down from 15.9% in 2021, primarily due to reduced profits[87]. - The return on assets (annualized) fell to 5.2% from 6.8%, attributed to a significant increase in asset investment despite a slight profit increase[89]. - The company pledged assets with a total book value of approximately RMB 3,518.7 million as of June 30, 2022, compared to RMB 1,024.6 million at the end of 2021[82]. Corporate Governance - The company adheres to a robust corporate governance framework, continuously improving its internal control systems through internal and third-party audits[126]. - The company has complied with all provisions of the listing rules and corporate governance code as of June 30, 2022[128]. - The company has adopted the standard code for securities transactions by directors, confirming compliance by all directors and supervisors during the reporting period[129]. - The second board of directors was appointed on May 23, 2022, consisting of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[132]. - The third board of supervisors was also appointed on May 23, 2022, comprising six members, including two shareholder representatives, two employee supervisors, and two independent supervisors[135]. Employee and Social Responsibility - The total employee cost for the six months ended June 30, 2022, was approximately RMB 110.8 million, an increase of 29.9% compared to RMB 85.3 million in the same period last year[182]. - The company has a total of 2,710 employees as of June 30, 2022, including 11 senior management and 105 middle management personnel[182]. - The company is committed to providing comprehensive training programs for all employees, including long-term and short-term training in management and production[183]. - The company emphasizes a commitment to social responsibility and harmonious development, integrating economic and social benefits[126]. - The company plans to continue advancing technological progress in the industry while fulfilling its social responsibilities[126]. Dividend and Shareholder Information - The company declared a cash dividend of RMB 0.20 per share for the year-end 2021, totaling RMB 107.084 million, fully paid in July 2022[115]. - The company plans to distribute at least 25% of its annual profit as dividends, in accordance with relevant laws and regulations in China and Hong Kong[115]. - The company plans to distribute an interim dividend of RMB 0.05 per share for the six months ended June 30, 2022, with a total payout of approximately RMB 26.8 million[186]. - As of June 30, 2022, Mr. Rao Chaofei holds a 30.26% equity interest in the company through controlled entities, with 162,000,000 H shares[157]. - Major shareholders include Jinma Hong Kong and Jinma Coking, each holding 30.26% of the H shares[164].

Financial Performance - The company reported a revenue of RMB 7,398.3 million for the year ended December 31, 2021, representing a growth of 15.7% compared to the previous year[20]. - The net profit for the same period was RMB 507.7 million, showing a decrease of 2.6% year-on-year[20]. - The company achieved a gross profit margin of 13.7% and a net profit margin of 6.9% for the year ended December 31, 2021[20]. - The total assets of the company reached RMB 8,525.3 million, reflecting an increase of 8.1% from the previous year[25]. - The company's gross profit for the year was RMB 918.7 million, while the operating gross profit remained stable at RMB 1,015.3 million compared to 2020[30]. - The company's revenue increased by approximately RMB 1,005.9 million or 15.7% from RMB 6,392.4 million in 2020 to RMB 7,398.3 million in 2021, primarily due to a significant rise in the prices of coke and derivative chemicals[63]. - Gross profit margin decreased from 16.4% in 2020 to 13.7% in 2021, attributed to the substantial increase in the prices of key raw materials, particularly coal[63]. - The company's profit before tax decreased by approximately RMB 21.2 million or 3.0% to RMB 673.2 million in 2021, influenced by rising raw material costs and the elimination of underperforming equipment[74]. - Total comprehensive income decreased by approximately RMB 17.5 million or 3.4% to RMB 505.5 million in 2021, with a net profit margin declining from approximately 8.2% in 2020 to 6.9% in 2021[77]. Production and Capacity - The company successfully completed the upgrade of coking equipment, increasing annual production capacity from 1.0 million tons to 1.8 million tons[13]. - The company completed the construction of two advanced coking furnaces with an annual capacity of 1.8 million tons, which began production in September 2021[31]. - The company plans to fully operationalize the new coking capacity by the second quarter of 2022, increasing total coking capacity to approximately 4.4 million tons annually[31]. - The production capacity for coke in 2021 was approximately 1.0 million tons per year, with a utilization rate that remained stable[55]. - The company produced approximately 450 million cubic meters of gas for self-use in 2021, which included production for LNG and hydrogen[55]. Investments and Projects - The company invested RMB 150 million in a wastewater treatment project, which is now fully operational and aims for zero wastewater discharge[18]. - A joint venture was established with Xiamen International Trade Group, with an investment of RMB 98 million, to enhance supply chain management in the coking industry[32]. - The company is actively expanding its coking industry chain through acquisitions and has plans to enhance production capacity for phenolic and coal tar-based chemicals, as well as clean energy initiatives[130]. - A joint venture was established with Shanghai Hydrogen Maple Energy Technology Co., Ltd. to develop hydrogen fuel cell vehicles and related infrastructure in Henan Province[131]. - The company has established a joint venture in Xinyang, Henan Province, for the production and sale of coke, with a total investment of nearly RMB 1.5 billion, and the first phase is expected to commence operations in October 2022[135]. - A new wastewater treatment project with a capacity of 180 m³/h has been initiated, utilizing advanced Israeli reverse osmosis technology, with an investment of approximately RMB 150 million as of December 31, 2021[136]. Shareholder and Dividend Information - The board proposed a final dividend of RMB 0.20 per share, totaling RMB 0.30 per share for the year, representing a dividend yield of approximately 68% relative to the IPO price[35]. - A total dividend of RMB 0.30 per share was declared for the year ending December 31, 2021, amounting to RMB 160,626,000[129]. Financial Position and Debt - The debt-to-asset ratio stood at 64.6%, reflecting the company's financial leverage[23]. - The company's interest-bearing borrowings as of December 31, 2021, amounted to approximately RMB 1,800.9 million, up from RMB 1,011.7 million in 2020[56]. - The group's debt-to-equity ratio increased to 0.42 times in 2021 from 0.25 times in 2020, primarily due to the rise in bank borrowings[96][99]. - As of December 31, 2021, the company's bank borrowings totaled RMB 1,800.9 million, an increase of RMB 789.2 million from RMB 1,011.7 million in 2020[91]. - The company maintained a cash and cash equivalents balance of RMB 576.9 million at the end of 2021, down from RMB 1,355.1 million at the beginning of the year[84]. Governance and Management - The company has adopted a series of governance policies and procedures in accordance with the Corporate Governance Code effective for the year ending December 31, 2021[148]. - The board of directors held 4 meetings and passed 9 written resolutions during the year, with all executive directors achieving a 100% attendance rate at board meetings[155]. - The board is composed of 9 members, including 3 executive directors, 3 non-executive directors, and 3 independent non-executive directors, ensuring a balanced governance structure[153]. - The company has established clear divisions of responsibilities between the board and management, with the board responsible for overall strategy and management oversight[156]. - The independent non-executive directors possess relevant expertise in finance and accounting, enhancing the board's effectiveness in governance[159]. - The company has revised its articles of association to improve its governance framework in response to operational needs[148]. - The chairman and the CEO are held by different individuals, ensuring a separation of powers within the company's leadership[158]. - The company has implemented a compliance notification system for directors regarding trading restrictions during blackout periods[152]. - The board has established an authorization management system to delineate decision-making powers across various levels of the organization[156]. Risk Management - The company's risk management and internal control procedures are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatements or losses[200]. - The company faced risks related to price fluctuations of raw materials and products, influenced by supply and demand dynamics in the coal, coking, and steel industries[44]. - The demand for derivative chemicals is influenced by oil prices, with a historical trend showing that when oil prices decline, the prices of the company's products typically also decrease[44]. Employee and Training - Employee costs increased to approximately RMB 207.8 million in 2021 from RMB 136.9 million in the previous year, with total employees rising to 2,253 from 1,850[143]. - The management has established an annual training plan covering all employees, focusing on long-term and short-term training in management, finance, and safety[145]. - All directors participated in online training and continuous professional development as of December 31, 2021[165].

Financial Performance - For the six months ended June 30, 2021, the company's revenue was RMB 3,035.4 million, a decrease of 9.0% compared to RMB 3,336.6 million in the same period of 2020[12]. - Gross profit increased by 30.2% to RMB 606.5 million, with a gross margin of 20.0%, up from 14.0% in the previous year[12]. - Net profit for the period rose by 42.0% to RMB 342.9 million, resulting in a basic earnings per share of RMB 0.63, a 50.0% increase from RMB 0.42[12]. - The company reported a profit before tax of RMB 463.4 million, a 40.3% increase from RMB 330.4 million in the previous year[44]. - The net profit attributable to the company for the period was RMB 342.9 million, representing a 42.0% increase compared to RMB 241.5 million in the same period of 2020[47]. - Basic earnings per share increased by 50.0% to RMB 0.63 from RMB 0.42 in the previous year[47]. - The total comprehensive income for the period increased by approximately RMB 99.5 million or about 40.9% year-on-year[62]. - The coke segment's performance increased by approximately RMB 82.1 million or about 20.2% year-on-year, with an average coke price increase of 35.2%[63]. Assets and Liabilities - The company’s total assets increased by 10.8% to RMB 7,082.0 million as of June 30, 2021, compared to RMB 6,391.0 million at the end of 2020[12]. - As of June 30, 2021, total assets amounted to RMB 4,830,198 thousand, an increase from RMB 4,397,292 thousand as of December 31, 2020, representing a growth of approximately 9.8%[192]. - The company's non-current assets reached RMB 3,674,001 thousand, up from RMB 2,947,248 thousand, indicating a significant increase of about 24.7%[192]. - Current liabilities increased to RMB 2,251,834 thousand from RMB 1,993,737 thousand, reflecting a rise of approximately 12.9%[192]. - The total equity attributable to owners of the company was RMB 3,129,246 thousand, compared to RMB 2,900,128 thousand, marking an increase of around 7.9%[192]. - The company's cash and cash equivalents decreased to RMB 488,790 thousand from RMB 1,355,149 thousand, a decline of approximately 64.0%[192]. - Inventory levels decreased significantly to RMB 164,945 thousand from RMB 370,945 thousand, a reduction of about 55.6%[192]. - Trade and other receivables increased to RMB 363,462 thousand from RMB 298,118 thousand, representing a growth of approximately 22.0%[192]. Investments and Capital Expenditures - The company plans to upgrade two existing 4.3-meter coke ovens to advanced 7.65-meter ovens, increasing annual capacity from 1.2 million tons to 1.8 million tons, with a total investment of approximately RMB 2.45 billion[36]. - An investment of approximately RMB 178 million is planned for a new wastewater treatment project with a capacity of 180 cubic meters per hour, utilizing advanced Israeli reverse osmosis technology, expected to be fully operational in Q4 2021[39]. - The investment cash outflow for the first half of 2021 was approximately RMB 1,376.1 million, mainly due to purchases of property, plant, and equipment[71]. - The company had capital commitments of RMB 1,396.5 million for property, plant, and equipment as of June 30, 2021, up from RMB 897.9 million as of December 31, 2020[90]. Market and Pricing Dynamics - The demand for the company's products is primarily driven by the domestic steel and chemical industries, with coking coal being a key raw material[16]. - The market prices of the company's products are influenced by various factors, including domestic and global economic cycles, as well as the supply and demand dynamics of coal and coking products[17]. - In the first half of 2021, the average selling price of coke increased by 35.2% year-on-year to approximately RMB 2,380 per ton, while the average cost of coking coal only rose by 8.5%, resulting in an 82.3% expansion in the price difference between coke products and raw materials[26]. - The average selling prices of key products in 2021 compared to 2020 showed significant increases, with pure benzene rising from RMB 3,434.80 to RMB 5,517.70 per ton, a 60.5% increase[23]. Corporate Governance and Shareholder Information - The board of directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[124]. - The company has adhered to all provisions of the listing rules and corporate governance codes as of June 30, 2021[120]. - The company has established a robust internal control system through internal and third-party audits to enhance corporate governance[118]. - Major shareholders with 5% or more equity include Jinma Hong Kong and Jinma Coking, each holding 162,000,000 non-listed foreign shares, which is 40.50% of the relevant class and 30.26% of the total issued share capital[150]. - The company declared a final dividend of RMB 0.20 per share, totaling RMB 107,084,000, paid in June 2021[112]. - The board proposed an interim dividend of RMB 0.10 per share for the six months ended June 30, 2021, subject to shareholder approval[112]. Operational Performance and Efficiency - The company plans to continue investing in production and environmental sustainability to maintain profit growth and improve service levels for Chinese steel and chemical enterprises[11]. - The company’s operational performance is significantly affected by the prices of raw materials, particularly coal, and regulatory changes in the coal industry may impact supply and pricing[24]. - The employee cost for the six months ended June 30, 2021, was approximately RMB 93.9 million, compared to RMB 58.5 million for the same period last year, representing an increase of approximately 60%[166]. - The total number of employees as of June 30, 2021, was 1,890, including 17 senior management, 96 middle management, and 1,777 general staff[166]. Risk Management and Credit Exposure - The company faces significant credit risk concentration, with over 46% and 71% of credit risk concentrated in the five largest outstanding balances as of June 30, 2021, and December 31, 2020, respectively[105]. - The expected credit loss impairment increased by approximately RMB 9.9 million or about 1,180.7% year-on-year, primarily reflecting an increase in provisions for expected credit losses on accounts receivable[51]. - The company does not enter into long-term fixed-price procurement contracts for coal, relying instead on fair negotiation based on market prices at the time of order[24].

Financial Performance - The company's revenue for the year ended December 31, 2020, was RMB 7,133.7 million, representing a decrease of 5.8% compared to the previous year[24]. - The net profit for the same period was RMB 521.2 million, reflecting a decline of 15.8% year-on-year[24]. - The gross profit margin for the year was 15.1%, an increase of 0.8% compared to the previous year, while the net profit margin was 7.3%, a decrease of 0.9%[24]. - The company's total sales for 2020 amounted to approximately RMB 7,133 million, with a net profit attributable to shareholders of approximately RMB 485 million[34]. - The total comprehensive income for the year was RMB 522.99 million, with the attributable profit to the owners of the company being RMB 485.47 million[65]. - Total comprehensive income decreased by approximately RMB 97.2 million or about 15.7% to RMB 523.0 million in 2020, with a net profit margin dropping from approximately 8.2% in 2019 to 7.3% in 2020[88]. - The company's profit before tax decreased by approximately RMB 115.4 million or about 13.9% to RMB 712.2 million in 2020[85]. Investment and Expansion Plans - The company plans to invest RMB 160 million in a joint venture for hydrogen energy, holding an 80% stake, to capitalize on the clean energy development opportunities in Henan Province[20]. - The company plans to expand its business into the hydrogen energy industry, including hydrogen production, storage, and sales, as well as the construction and operation of hydrogen refueling stations[20]. - The company plans to complete the construction of two advanced coke ovens with a capacity of 1.8 million tons by Q3 2021[34]. - The company plans to invest approximately RMB 160 million in a new wastewater treatment project with a processing capacity of 180 m³/h, utilizing advanced Israeli reverse osmosis technology, expected to commence production in Q3 2021[159]. - The company has initiated a project to establish a hydrogen energy industrial chain, leveraging its 49% stake in Jinjing Refining, which produces hydrogen with a purity of 99.99% and an annual capacity of 300 million cubic meters[147]. - The company plans to upgrade two existing 4.3-meter coking furnaces to advanced 7.65-meter furnaces, increasing annual production capacity from 1.2 million tons to 1.8 million tons, with a total investment of approximately RMB 2.45 billion[151]. Financial Position and Ratios - The asset-liability ratio as of December 31, 2020, was 0.22, indicating a stable financial position[29]. - The return on equity for the year was 17.6%, demonstrating effective management of shareholder funds[28]. - The return on assets (ROA) was reported at -4.2% for the year ending December 31, 2020[31]. - The current ratio was 1.7, indicating a stable liquidity position[32]. - The debt-to-equity ratio decreased in 2020 due to a reduction in bank borrowings and an increase in total equity from profits[110]. - The company's return on assets (ROA) decreased in 2020 due to a decline in profits[114]. Sales and Pricing - The average selling price of coke increased by 8.2% in the second half of 2020 compared to the first half[33]. - The average selling price of coke in 2020 was RMB 1,619.80 per ton, a decrease of 5.0% from RMB 1,705.90 in 2019[50]. - The average selling price of LNG in 2020 was RMB 3,058.90 per cubic meter, down 18.1% from RMB 3,735.40 in 2019[51]. - The average selling price of toluene in 2020 was RMB 3,237.70 per ton, down 30.2% from RMB 4,631.10 in 2019[51]. - The coke segment's revenue was RMB 3,586.7 million in 2020, accounting for 50.3% of total group revenue, with a gross profit margin of 26.2%[90]. - The energy products segment's average wholesale price of liquefied natural gas decreased by approximately 18.1% compared to 2019, resulting in a gross profit margin of 15.5%[91]. Cash Flow and Financing - In 2020, the net cash generated from operating activities was approximately RMB 1,212.2 million, an increase from RMB 1,071.7 million in 2019[95]. - The net cash used in investing activities was approximately RMB 1,296.3 million, significantly higher than RMB 506.1 million in 2019, primarily due to investments in property, plant, and equipment[97]. - The net cash used in financing activities was approximately RMB 259.1 million, a decrease from a net cash inflow of RMB 549.2 million in 2019, mainly due to reduced bank borrowings and dividend payments[98]. - The total interest-bearing borrowings as of December 31, 2020, were approximately RMB 861.7 million, a decrease from RMB 1,043.5 million in 2019[61]. - The financing cost for 2020 was approximately RMB 61.7 million, representing 0.9% of total revenue, an increase from 0.7% in 2019[61]. - The company maintained a cash reserve to ensure liquidity, with cash and cash equivalents at the end of 2020 amounting to RMB 1,355.1 million, down from RMB 1,697.8 million at the beginning of the year[95]. Corporate Governance - The company has committed to a robust corporate governance framework, ensuring compliance with international standards and enhancing internal control systems[167]. - The company appointed a new independent non-executive director on December 23, 2020, to comply with listing rules after a temporary shortfall in independent directors[170]. - The company has established a compensation committee to oversee remuneration for directors and senior management, ensuring alignment with corporate performance[163]. - The board of directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[179]. - The board held four meetings and passed five written resolutions during the year ending December 31, 2020, with a 100% attendance rate from executive directors[184]. - The company has adopted a management authorization system to clarify the decision-making authority and responsibilities of various levels of decision-making bodies and personnel[185].

Financial Performance - Revenue for the first half of 2020 was RMB 3,372.6 million, a decrease of 15.0% compared to RMB 3,968.4 million in the same period of 2019[4] - Gross profit decreased by 18.1% to RMB 466.2 million, down from RMB 568.9 million year-on-year[4] - Net profit fell by 29.4% to RMB 241.5 million, compared to RMB 342.0 million in the first half of 2019[4] - Basic earnings per share decreased by 31.1% to RMB 0.42, down from RMB 0.61 in the previous year[4] - Total revenue for the first half of 2020 was approximately RMB 3,372.6 million, a decrease of 15.0% from RMB 3,968.4 million in the same period of 2019[32] - Gross profit for the first half of 2020 was RMB 466.2 million, down 18.1% from RMB 568.9 million in the previous year[32] - The net profit for the first half of 2020 was RMB 241.5 million, a decrease of 29.4% from RMB 342.0 million in the previous year[32] - Profit before tax decreased by approximately RMB 125.2 million or about 27.6%[38] - Net profit decreased by approximately RMB 100.6 million or about 29.4%[40] Assets and Equity - Total assets increased by 12.6% to RMB 6,181.1 million as of June 30, 2020, compared to RMB 5,487.1 million at the end of 2019[4] - Total equity rose by 5.6% to RMB 3,581.1 million from RMB 3,392.2 million at the end of 2019[4] - The company’s total assets as of June 30, 2020, were RMB 3,581,145 thousand, reflecting growth in asset base compared to previous periods[197] - The company’s total equity increased to RMB 3,581,145 thousand from RMB 3,392,225 thousand, reflecting a growth of 5.6%[193] Cash Flow and Financing - Cash flow from operating activities was approximately RMB 411.6 million, a decrease from RMB 743.2 million in the previous year[48] - The cash and cash equivalents at the end of the period were RMB 1,398.2 million, down from RMB 1,697.8 million at the beginning of the year[48] - The net cash used in investing activities was approximately RMB 496.3 million, primarily due to the purchase of properties, plants, and equipment amounting to RMB 300.4 million and payments for acquisition projects of RMB 16.7 million[53] - The net cash used in financing activities in the first half of 2020 was approximately RMB 215.1 million, mainly due to a net decrease in bank and other borrowings of RMB 39.6 million, dividend payments of RMB 170.4 million, and interest expenses of RMB 27.8 million[54] - The financing cost for the first half of 2020 was approximately RMB 27.7 million, a decrease from RMB 30.4 million in the same period of 2019, representing 0.8% of total revenue[27] - The company’s financing costs decreased to RMB 27,712 thousand for the six months ended June 30, 2020, down from RMB 30,391 thousand in the same period of 2019, indicating a reduction of approximately 8.8%[200] Operational Capacity and Production - The production capacity for coke was approximately 2.1 million tons per year, with sales achieving nearly full capacity during the first half of 2020[26] - The company produced approximately 1,000 million cubic meters of gas for self-use and sales, including LNG production, during the first half of 2020[26] - The company has initiated LNG production facilities since Q1 2018 and entered full production and sales in Q3 2018[6] - The sales of coke, LNG, and derivative chemical products are primarily driven by the domestic steel and chemical industries[13] Dividends and Shareholder Information - The company declared a final dividend of RMB 0.20 per share and a special dividend of RMB 0.10 per share, totaling RMB 160,626,000, which was fully paid in June 2020[94] - The board proposed an interim dividend of RMB 0.10 per share for the six months ended June 30, 2020, subject to shareholder approval[94] - The company plans to distribute an interim dividend of RMB 0.10 per share for the six months ending June 30, 2020, pending approval at the upcoming extraordinary general meeting[179] Corporate Governance - The company has implemented a robust corporate governance framework, ensuring compliance with international standards and enhancing internal control systems[111] - The company complied with all provisions of the Corporate Governance Code under Appendix 14 of the Listing Rules for the six months ended June 30, 2020[113] - The board consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[116] Employee Information - As of June 30, 2020, the company had a total of 1,589 employees, with employee costs amounting to RMB 58.5 million, an increase from RMB 55.7 million in the same period last year[174] - The company is committed to providing comprehensive training programs for all employees, including long-term management and financial courses[175] - The company emphasizes the importance of employee training and development, providing targeted training from onboarding to personal growth[175] Risk Management - The company faced a concentration of credit risk, with over 67% of risk concentrated in the five largest outstanding balances as of June 30, 2020[87] - The company has not entered into any foreign exchange or interest rate hedging contracts during the first half of 2020[81] Future Projects and Investments - The company plans to invest approximately RMB 150 million in a new wastewater treatment project, utilizing advanced Israeli technology, with a processing capacity of 180 cubic meters per hour, expected to be fully operational by Q2 2021[106] - A coking equipment upgrade project aims to increase annual capacity from 1 million tons to 1.8 million tons, with a total investment of approximately RMB 2.45 billion, expected to be completed by the end of 2021[99] - The desulfurization liquid treatment project, which started operations in July 2020, is expected to produce about 30,000 tons of sulfuric acid annually, with a total investment of approximately RMB 700 million[100]

Financial Performance - The company reported a revenue of RMB 7,571.9 million for the year ended December 31, 2019, representing a 1.6% increase compared to the previous year[18]. - The net profit for the same period was RMB 619.2 million, reflecting a decrease of 27.3% year-on-year[18]. - The gross profit margin for 2019 was 14.3%, down by 4.0% from the previous year, while the net profit margin was 8.2%, a decrease of 3.2%[18]. - The return on equity for 2019 was 24.0%, a decrease of 18.5% compared to the previous year[22]. - The company's net profit margin fell from approximately 11.4% in 2018 to 8.2% in 2019[77]. - Profit before tax decreased by approximately RMB 308.9 million or 27.2% from RMB 1,136.5 million in 2018 to RMB 827.6 million in 2019[74]. - Total comprehensive income decreased by approximately RMB 230.1 million or 27.1% from RMB 850.3 million in 2018 to RMB 620.2 million in 2019[77]. - Gross profit decreased from RMB 1,361.4 million in 2018 to RMB 1,081.1 million in 2019, resulting in a gross margin decline from 18.3% to 14.3%[65]. Dividends and Shareholder Returns - The company maintained a stable dividend payout for three consecutive years, with a total dividend of RMB 0.40 per share for 2019[9]. - The board proposed a final dividend of RMB 0.20 per share and a special dividend of RMB 0.10 per share, totaling RMB 0.30 per share for the year[35]. - The company declared a total dividend of RMB 0.40 per share for the year ending December 31, 2019, amounting to RMB 214,168,000, which includes a final dividend of RMB 0.20 and a special dividend of RMB 0.10 per share[134]. Assets and Liabilities - The total assets as of December 31, 2019, were RMB 5,487.1 million, marking a 34.7% increase from the previous year[25]. - The company has maintained a stable financial position with a debt-to-asset ratio of approximately 0.31, despite an increase in bank borrowings by RMB 210 million[31]. - As of December 31, 2019, total bank borrowings amounted to RMB 1,043.5 million, an increase of RMB 209.9 million from RMB 833.6 million in 2018[96]. - The debt-to-equity ratio decreased to 0.31 times in 2019 from 0.35 times in 2018[102]. - The company's total financial liabilities as of December 31, 2019, amounted to RMB 1,989,424 thousand, with a weighted average interest rate for borrowings ranging from 4.61% to 6.75%[129]. Operational Performance - The company achieved a current ratio of 2.0, indicating a strong liquidity position as of December 31, 2019[26]. - The company processed approximately 120,000 tons of crude benzene and 180,000 tons of coal tar annually, maintaining consistent sales levels[57]. - The production capacity for coke was approximately 2.1 million tons per year, with a utilization rate that remained stable throughout 2019[57]. - The average selling price of coke products decreased by 7.4% to RMB 1,706 per ton, leading to a 27.3% decline in profit to RMB 619 million[30]. - The average selling price of LNG in 2019 was RMB 3,735.40 per cubic meter, a decline from RMB 3,885.16 in 2018, indicating a decrease of about 3.9%[49]. Investments and Future Plans - The company is preparing to upgrade its coking equipment, increasing annual capacity from 1.0 million tons to 1.8 million tons by the end of 2021[13]. - The company plans to upgrade its coking production facilities to meet the increasing demand for high-quality coke driven by stricter environmental policies[34]. - The company has invested approximately RMB 687.0 million in a joint venture established in May 2019, aimed at expanding its presence in the coking industry value chain[135]. - A project to upgrade coking equipment is expected to increase annual capacity from 1 million tons to 1.8 million tons, with a total investment of approximately RMB 2.36 billion[138]. - The hydrogenation expansion project aims to increase the company's benzene processing capacity from 120,000 tons to 200,000 tons, with a total investment now estimated at approximately RMB 80 million, of which RMB 45.7 million has been invested as of the end of 2019[140]. Corporate Governance - The company has complied with all provisions of the Corporate Governance Code as of December 31, 2019, reflecting its commitment to high standards of corporate governance[154]. - The board of directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[159]. - The company has established a compensation committee to recommend remuneration for directors and senior management, ensuring alignment with corporate performance and employee development[150]. - The company has adopted an authorization management system to clarify decision-making responsibilities and approval authorities[165]. - The company has established a Strategic Development Committee to research and propose long-term development strategies and major investment decisions[190]. Risk Management - The company continues to monitor and manage credit risk effectively, ensuring adequate provisions for any potential bad debts[125]. - The company faced risks related to price volatility of raw materials and products, particularly coal prices, which directly impact operational costs[52]. - The company does not enter into long-term fixed-price procurement contracts for coal, relying instead on market prices at the time of purchase[52]. Environmental Initiatives - The group has successfully implemented environmental management projects, including advanced wastewater treatment technologies[32]. - The new wastewater treatment project, with an investment of approximately RMB 100 million, will utilize advanced Israeli reverse osmosis technology with a processing capacity of 180 cubic meters per hour, and is expected to be operational by the end of 2020[142]. - The desulfurization regeneration liquid treatment project is expected to produce approximately 29,000 tons of sulfuric acid annually, generating a revenue of about RMB 10 million, with a total investment of approximately RMB 80 million[139]. - The dry quenching waste heat power generation project has a total investment of approximately RMB 150 million, with RMB 78.4 million invested by the end of 2019, and is expected to enhance product quality and reduce pollutant emissions[141].

Financial Performance - Revenue for the first half of 2019 reached RMB 3,968.4 million, representing a 20.5% increase compared to RMB 3,293.9 million in the same period of 2018[3] - Net profit for the first half of 2019 was RMB 342.0 million, a decline of 7.9% from RMB 371.4 million in the previous year[3] - Basic earnings per share decreased by 10.3% to RMB 0.61, compared to RMB 0.68 in the first half of 2018[3] - Gross profit decreased slightly to RMB 568.9 million, down 1.4% from RMB 576.9 million year-on-year[3] - Revenue increased by approximately RMB 674.5 million or about 20.5% year-on-year, primarily due to significant sales growth in the trading segment and contributions from LNG sales starting from Q3 2018[30] - The company reported a net profit of RMB 342,039 thousand for the six months ended June 30, 2019, a decrease of 7.9% from RMB 371,406 thousand in the prior year[154] - Basic earnings per share for the period was RMB 0.61, down from RMB 0.68 in the same period last year, representing a decline of 10.3%[154] Dividends - The company declared an interim dividend of RMB 0.10 per share, a 100% increase from RMB 0.05 in the same period last year[3] - The company declared a final dividend of RMB 0.35 per share for the year ended 2018, totaling RMB 187.40 million, fully paid in June 2019[82] - The interim dividend for the fiscal year 2018 is set at RMB 0.40 per share, with a final dividend of RMB 0.35 per share already paid in June 2019[143] - The company plans to distribute an interim dividend of RMB 0.10 per share for the six months ending June 30, 2019, pending approval at the extraordinary general meeting on October 18, 2019[143] Assets and Equity - Total assets as of June 30, 2019, were RMB 4,298.3 million, reflecting a 5.5% increase from RMB 4,074.8 million at the end of 2018[3] - Total equity increased by 6.0% to RMB 2,519.8 million from RMB 2,377.5 million at the end of 2018[3] - The company's total equity increased to RMB 2,519,785 thousand as of June 30, 2019, compared to RMB 2,377,459 thousand at the end of 2018, marking a growth of 6.0%[157] - The company's non-current assets increased to RMB 1,853,104 thousand from RMB 1,683,316 thousand, reflecting a growth of 10.1%[156] Costs and Expenses - The cost of sales increased by 25.1% to RMB 3,399.5 million, up from RMB 2,716.9 million in the previous year[28] - Financing costs rose by 40.4% to RMB 30.4 million, compared to RMB 21.6 million in the same period of 2018, accounting for approximately 0.8% of total revenue[25] - Sales costs rose by approximately RMB 682.5 million or about 25.1% year-on-year, mainly due to increased prices of raw materials (primarily coal and coal tar) and higher trading volumes of coke[30] - The company incurred financing costs of RMB 30,391 thousand for the six months ended June 30, 2019, up from RMB 21,649 thousand in the same period of 2018, reflecting an increase of approximately 40%[164] Cash Flow - The net cash flow from operating activities for the first half of 2019 was approximately RMB 775.2 million, attributed to changes in working capital and inventory reductions[45] - The net cash used in investing activities was approximately RMB 221.8 million, primarily due to purchases of property, plant, and equipment totaling RMB 191.9 million[46] - The net cash used in financing activities amounted to approximately RMB 158.8 million, mainly from dividend payments of RMB 187.4 million and interest expenses of RMB 30.2 million[47] - The cash and cash equivalents at the end of June 30, 2019, were RMB 977,719 thousand, up from RMB 627,884 thousand at the end of June 30, 2018, indicating a growth of approximately 56%[166] Business Operations - The company continues to expand its vertical integration business model, focusing on maximizing the value of by-products from coking processes[6] - The company sold approximately 1.1 million tons of coke (wet basis) in the first half of 2019, with an annual production capacity of about 2.1 million tons (dry basis)[24] - The trading segment became the second-largest business segment, with trading revenue increasing by approximately RMB 625.4 million or about 112.3% due to a rise in coke trading volume by about 300,000 tons[38] - The energy products segment saw revenue increase by approximately RMB 82.8 million or about 66.4%, attributed to LNG entering full production and sales in Q3 2018, although the utilization rate was only about 50% in H1 2019[41] Investments and Projects - The company plans to invest approximately RMB 125.0 million to build four gas stations in Jiyuan City, with a total refueling capacity of about 80.0 million cubic meters of LNG per year[89] - The LNG production facility is expected to achieve an annual production capacity of approximately 123.0 million cubic meters upon completion, requiring an additional 300.0 million cubic meters of gas annually[88] - The company has invested RMB 158.4 million in the coal particle gasification facility, which was completed in August 2019[88] - The company plans to expand the crude benzene processing capacity from 120,000 tons to 200,000 tons, with an investment of RMB 38.0 million, and the project is 60% complete as of June 2019[91] Financial Reporting and Compliance - The independent auditor has reviewed the condensed consolidated financial statements and found no issues that would lead to a belief that the statements were not prepared in accordance with International Accounting Standard 34[152] - The interim financial report is prepared in compliance with the relevant provisions of the Hong Kong Stock Exchange Listing Rules and International Accounting Standards[150] - The company reported a financial performance for the six months ended June 30, 2019, in accordance with International Financial Reporting Standards (IFRS) [168] - The application of IFRS 16 resulted in significant changes to accounting policies, particularly regarding lease liabilities and right-of-use assets [174] Governance and Shareholding - The first board of directors consisted of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors, serving until May 15, 2019[108] - Major shareholders include Jinma Hong Kong with a 40.50% stake in non-listed foreign shares, representing approximately 30.26% of the total issued share capital[124] - The company has a total of 1,540 employees as of June 30, 2019, with employee costs amounting to RMB 55.7 million, a decrease from RMB 61.3 million in the same period last year[138] - The company has established a compensation committee to review the remuneration policies for directors and senior management based on overall performance and market practices[138]

Financial Performance - The company's revenue for the year ended December 31 was RMB 7,451.8 million, representing a 45.0% increase compared to the previous year[18]. - The net profit for the same period was RMB 852.2 million, reflecting a growth of 55.6% year-on-year[18]. - The company achieved a gross margin of 18.3% and a net margin of 11.4% for the year ended December 31[18]. - Basic earnings per share increased by 25.0% to RMB 1.55, while the proposed final dividend per share was RMB 0.40, up 42.9%[18]. - The company's revenue for 2018 reached RMB 7,451.8 million, a growth of 45.0% compared to RMB 5,137.7 million in 2017[36]. - The net profit for 2018 was RMB 852.2 million, representing a 55.6% increase from RMB 547.8 million in 2017[36]. - The gross profit margin improved to 18.3% in 2018 from 17.6% in 2017[36]. - The company's total comprehensive income increased by approximately RMB 302.5 million or about 55.2% to RMB 850.3 million in 2018, with a net profit margin rising from approximately 10.7% to 11.4%[72]. - The company's net profit for the year was RMB 852.2 million, up from RMB 547.8 million in 2017, representing a growth of approximately 55.5%[72]. Production and Capacity Expansion - The liquefied natural gas (LNG) production facility commenced full production in Q3 2018, with an annual capacity of approximately 123.0 million cubic meters, following an investment of RMB 342.0 million[14]. - The company is expanding its benzene-based chemical production capacity from 120,000 tons to 200,000 tons, with an investment of RMB 38.0 million, expected to be operational by Q3 2019[16]. - The total investment for the coking gas facility, which will support LNG production, is approximately RMB 174.5 million, expected to be operational by mid-2019, providing an annual output of about 300.0 million cubic meters of gas[15]. - The liquefied natural gas production facility commenced operations in March 2018 and reached full production and sales in the third quarter[34]. - The company completed approximately 80% of the construction of the gas supply facility by the end of 2018, with expectations for full operational capacity in mid-2019[36]. - The company plans to invest approximately RMB 174.5 million in the construction of a gasification facility, with 80% completion as of the end of 2018[135]. - The company plans to invest about RMB 125.0 million in the construction of gas stations, with two already operational by the first quarter of 2018[136]. - The company will invest RMB 56.0 million to increase the coal tar processing capacity at Henan Bohai Chemical Co., Ltd. from 180,000 tons to 300,000 tons, with completion planned for Q4 2019[139]. - The dry quenching project for coke ovens has commenced in Q3 2018, with an expected total investment of RMB 162.0 million, and RMB 30.0 million already invested[145]. Market and Pricing Dynamics - The average selling price of coke increased from RMB 1,542.6 per ton in 2017 to RMB 1,842.1 per ton in 2018, representing a growth of approximately 19.4%[45]. - The average selling price of toluene rose from RMB 4,552.3 per ton in 2017 to RMB 5,102.8 per ton in 2018, an increase of about 12.1%[45]. - The average selling price of industrial naphthalene increased from RMB 3,300.3 per ton in 2017 to RMB 4,300.7 per ton in 2018, marking a rise of about 30.3%[45]. - The average selling price of coal tar-based chemicals rose from RMB 2,892.7 per ton in 2017 to RMB 3,389.0 per ton in 2018, reflecting an increase of approximately 17.2%[45]. - The average selling price of coke increased by approximately 20.4% from RMB 1,608.7 per ton in 2017 to RMB 1,937.1 per ton in 2018, driven by environmental production limits and reduced supply[76]. - The derivative chemicals segment contributed approximately 19.0% and 23.2% to the total revenue of the group for the years ended December 31, 2018, and 2017, respectively, with revenue increasing from approximately RMB 1,190.6 million in 2017 to approximately RMB 1,414.0 million in 2018, a growth of about 18.8%[77]. - The energy products segment's revenue increased by approximately RMB 123.8 million or about 52.4% to approximately RMB 360.2 million in 2018, primarily due to the full-scale production and sales of liquefied natural gas starting in Q3 2018[80]. Financial Position and Investments - The company's borrowings increased from RMB 567.0 million at the end of 2017 to RMB 833.6 million at the end of 2018, primarily to stabilize cash flow[53]. - The group's total bank borrowings increased from RMB 567.0 million in 2017 to RMB 833.6 million in 2018, an increase of RMB 266.6 million[92]. - The debt-to-equity ratio increased to 0.4 times in 2018 from 0.3 times in 2017, primarily due to increased bank borrowings for cash flow stability and funding reserves[99][102]. - The company plans to finance its expansion projects through internal financial resources and bank loans[140]. - The company has committed to invest RMB 1,145 million in a joint venture, Shenzhen Jinma Energy Co., Ltd., pending shareholder approval[111]. - The company has restructured financing to increase the proportion of secured borrowings in 2018[123]. - The company’s average borrowing interest rates range from 4.57% to 6.75% as of December 31, 2018[126]. Corporate Governance and Compliance - The board of directors held 5 meetings during the year, ensuring compliance with corporate governance standards and monitoring the professional development of directors and senior management[155]. - The company aims to achieve high levels of corporate governance while balancing economic and social benefits, continuously advancing industry technology[150]. - The board consists of three independent non-executive directors, accounting for one-third of the board[160]. - The audit committee reviewed the audited financial statements for the year ended December 31, 2018[175]. - The company has established a clear division of responsibilities between the board and management, with daily operations managed by executive personnel[160]. - The company has implemented a training program for directors to enhance their professional development, focusing on corporate governance and compliance[162]. - The company has a robust internal control system and risk management framework, monitored by the audit committee[174]. - The company confirmed that there are no significant relationships among board members that could affect their independence[162]. - The auditor's fees for the year ended December 31, 2018, were RMB 2.0 million for audit services and RMB 0.8 million for other assurance services[187]. Risk Management - The group faced market risks related to commodity price fluctuations, particularly in coal, which could significantly impact operational performance[118]. - The company has a credit risk concentration, with over 70% of credit risk concentrated in five largest outstanding balances as of December 31, 2018[122]. - The company confirmed that there are no significant uncertainties affecting its ability to continue as a going concern[190]. Employee and Social Responsibility - As of December 31, 2018, the company employed 1,508 staff, an increase from 1,361 in 2017, with total employee costs reaching RMB 127.5 million compared to RMB 114.2 million in the previous year[148]. - The company is committed to improving production site management to minimize environmental impact, aligning with its social responsibility goals[143].