Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 11,599 million, a decrease from RMB 12,072 million in 2023, representing a decline of approximately 3.9%[5] - The company reported a loss attributable to shareholders of RMB 345.9 million, compared to a profit of RMB 22.3 million in the previous year, indicating a significant downturn[6] - Basic loss per share was RMB 0.65, a decrease from earnings of RMB 0.04 per share in 2023[6] - Gross profit for the year was RMB 150.1 million, down from RMB 448.5 million in 2023, reflecting a gross margin decline[5] - Total comprehensive loss for the year was RMB 469.5 million, compared to a loss of RMB 6.0 million in the previous year[6] - The company reported a net loss of RMB 345,890,000 for the year ended December 31, 2024, compared to a net profit of RMB 22,324,000 in the previous year[9] - Total comprehensive income for the year was a loss of RMB 340,614,000, significantly down from a profit of RMB 23,372,000 in 2023[9] Assets and Liabilities - Non-current assets decreased to RMB 8,581 million from RMB 8,649 million in 2023, a reduction of approximately 0.8%[7] - Current assets decreased to RMB 2,634 million from RMB 3,886 million in 2023, a decline of about 32.2%[7] - Total equity decreased to RMB 4,337 million from RMB 4,840 million in 2023, representing a decrease of approximately 10.4%[8] - The company’s total liabilities decreased to RMB 5,565 million from RMB 6,747 million in 2023, a reduction of about 17.5%[8] Cash Flow and Financing - Operating cash flow for the year increased to RMB 942,525,000, up from RMB 69,988,000 in the previous year, indicating improved cash generation from operations[11] - Cash and cash equivalents decreased significantly, impacting liquidity and financial flexibility[11] - Cash received from bank borrowings amounted to RMB 1,943,112,000, slightly down from RMB 2,007,833,000, a decrease of 3.2%[14] - Cash outflow for repayment of bank borrowings rose significantly to RMB 2,578,163,000 from RMB 1,257,162,000, an increase of 105.5%[14] - Cash and cash equivalents at the end of the period decreased to RMB 509,560,000 from RMB 917,869,000, a decline of 44.5%[14] Operational Strategy - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[4] - The company plans to continue its market expansion and product development strategies to improve future performance[10] Revenue Breakdown - Total revenue for the year ending December 31, 2024, is RMB 13,754,972,000, with a breakdown of RMB 7,198,339,000 from coke, RMB 3,085,057,000 from derivative chemicals, and RMB 1,622,904,000 from energy products[92] - The revenue from coke sales decreased from RMB 8,359,161,000 in 2023 to RMB 7,198,339,000 in 2024, reflecting a decline of approximately 13.9%[95] - The revenue from derivative chemicals increased from RMB 2,278,521,000 in 2023 to RMB 3,085,057,000 in 2024, representing an increase of approximately 35.4%[95] - The company generated RMB 1,622,904,000 from energy products in 2024, compared to RMB 1,677,666,000 in 2023, indicating a decrease of about 3.3%[95] Employee and Management Compensation - The total employee costs increased slightly to RMB 277,888,000 in 2024 from RMB 275,198,000 in 2023, reflecting a marginal increase of 1.0%[110] - The total compensation for directors and supervisors amounted to RMB 2,078,000, a decrease from RMB 2,250,000 in 2023, reflecting a reduction of approximately 7.6%[116] - The total salary, wages, and allowances for the top five highest-paid individuals in 2024 was RMB 3,020,000, an increase from RMB 2,464,000 in 2023, indicating a growth of approximately 22.6%[120] Impairment and Provisions - The company reported a decrease in inventory provisions, which increased to RMB 24,841,000 from RMB 14,576,000 in 2023, suggesting challenges in inventory management[11] - The expected credit loss provision for trade receivables is sensitive to estimation changes, with assessments based on internal credit ratings and historical default rates[89] Tax and Deferred Income - The company’s deferred tax assets are subject to estimates of future taxable profits, which may impact future net profits if assumptions change[91] - The deferred tax expense was RMB (79,976,000) in 2024, slightly down from RMB (80,643,000) in 2023[111] Credit Risk Management - The company has implemented a credit risk management strategy that includes monitoring risk levels and ensuring follow-up actions for overdue debts[200] - The company only accepts notes issued or guaranteed by reputable banks in China to mitigate credit risk associated with trade receivables[200] - The board believes that the company's credit risk has been significantly reduced due to long-term relationships with customers and their financial stability[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分內容而產生或因倚 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） 茲提述本公司日期為2025年2月5日的公告（「該公告」），內容有關馬鞍山鋼鐵框架 協議項下擬與馬鞍山鋼鐵集團進行的持續關連交易。除另有界定外，本公告所用 詞彙與該公告所界定者具有相同涵義。本公告旨在提供有關內部控制及補救措施 之更新，以防止年度上限再度超額之發生。 內部控制及補救措施 為防止未來發生類似違規行為，本公司已加強內部控制，具體措施如下：當年度 上限使用率達到80%時：(i)財務部門主管須向發貨部門主管發出書面通知，提醒 其不得通過安排發貨超出年度上限；(ii)所有發貨指令須經財務部門主管（此前僅 需銷售部門主管批准）與銷售部門主管共同批准後，方可下達至發貨部門主管以 安排發貨。相關IT系統工作流程將於2025年4月30日前提升，實現財務部門主管 在線聯合 ...

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） 澄清公告 茲提述河南金馬能源股份有限公司（「本公司」）日期為2025年3月5日的有關董事 會會議通告之公告（「該公告」）。除另有界定外，本公告所用詞彙與該公告所界定 者具有相同涵義。 本公司注意到該公告的英文版本出現一項文書筆誤，故謹此澄清，本公司謹訂於 「2025年3月28日（星期五）」，而非「2024年3月28日（星期五）」舉行董事會（「董事 會」）會議。 除於上文所作澄清外，該公告內所載之所有其他資料均為正確且維持不變。 承董事會命 河南金馬能源股份有限公司 主席 饒朝暉 香港，2025年3月6日 截至本公告日期，本公司執行董事為饒朝暉先生、王明忠先生及李天喜先生；本 公司非執行董事為徐葆春先生、汪開保先生及葉婷女士；及本公司獨立非執行董 ...

香港，2025年3月5日 （股票代號：6885） 董事會會議通告 河南金馬能源股份有限公司（「本公司」）謹此宣佈，本公司謹訂於2025年3月28日 （星期五）就（其中包括）下列事項舉行董事會（「董事會」）會議，以： 承董事會命 河南金馬能源股份有限公司 主席 饒朝暉 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） 1. 考慮及批准本公司及其附屬公司截至2024年12月31日止年度的經審核全年業 績，以及將分別刊登於香港聯合交易所有限公司及本公司網頁的經審核全年 業績公告； 2. 考慮及批准派發末期股息（如有）；及 3. 處理其他事項。 截至本公告日期，本公司執行董事為饒朝暉先生、王明忠先生及李天喜先生；本 公司非執行董事為徐葆春先生、汪開保先生及葉婷女士；及本公司獨立非執行董 事為吳德龍先生、孟至和先生及曹紅彬先生 ...

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） （股份代號：6885） 盈利警告 以上所載資料僅為董事會基於本集團目前所得的資料而作出的初步評估，包括本 公司截至2024年12月31日止年度未經審核合併管理賬目，而其乃未經本公司核數 師或董事會的審計委員會確認、審閱或審核，有待最終確定及可能作其他調整。 有關本集團截至2024年12月31日止年度的財務資料的進一步詳情將於本公司全年 度業績公告內披露，預期該公告將於2025年3月底刊發。 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事。 承董事會命 河南金馬能源股份有限公司 主席 饒朝暉 香港，2025年2月17日 本公告乃由河南金馬能源股份有限公司（「本公司」，及連同其附屬公司統稱為「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 ...

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） 持續關連交易 超出年度上限 茲提述本公司日期為2022年11月24日的通函，內容有關馬鞍山鋼鐵框架協議項下 擬與馬鞍山鋼鐵集團進行的持續關連交易，據此，自2023年1月1日起至2025年12 月31日止三個年度的上限已設定為每年人民幣1,170百萬元。 超出年度上限 2025年1月初，對本集團於2024年12月對馬鞍山鋼鐵集團的銷售額進行定期月度 檢討時，本公司財務部發現，本集團截至2024年12月31日止年度的累計實際交易 金額（經根據馬鞍山鋼鐵框架協議合併本公司及金馬中東的銷售額）已超出上限約 人民幣40百萬元（相當於相關年度上限的約3.4%，「超出金額」）。 內部控制措施及補救措施 馬鞍山鋼鐵框架協議項下交易的原有內部控制程序主要包括： ...

财联社12月31日讯(编辑 胡家荣) 今日港股延续震荡走势，但是煤炭股表现持续活跃。截至发稿，金马 能源(06885.HK)、蒙古能源(00276.HK)、中国神华(01088.HK)、中煤能源(01898.HK)分别上涨18.97%、 3.39%、2.61%、1.88%。 消息方面，山西证券指出，临近年底，煤矿生产一般。需求方面，数九寒天延续，居民用电需求下终端 煤电负荷维持高位，电煤需求较强。 再者中国矿业联合会在昨日表示，2024年我国重要矿产资源开发再创新高。中国矿业联合会秘书长车长 波介绍，今年全国煤炭产量持续增长，1-11月，煤炭累计产量为43.22亿吨，同比增长1.2%，预计全年 产量将达到47.6亿吨。 机构称煤价下行进入合理区间，且煤价有望企稳回升 山西证券指出，煤价下行进入合理煤价区间，港口调入降低，北方港口煤炭调入小于调出，北方港口库 存继续减少；进入合理价格区间后，下游补库需求有所增长，长江下游港口煤价回升，环渤海港口煤价 企稳。 国海证券给出类似观点，供需面改善下煤价有望企稳回升。从大方向来看，行业投资逻辑依然未变，预 计未来几年，煤炭行业依然维持紧平衡状态，煤炭行业资产质量高，账上 ...

Revenue and Profitability - Revenue for the first half of 2024 was RMB 6,299.5 million, an increase of RMB 408.8 million compared to RMB 5,890.7 million in the same period of 2023[5] - Gross profit decreased to RMB 70.1 million in H1 2024 from RMB 216.2 million in H1 2023, a decline of RMB 146.1 million[5] - The company reported a net loss of RMB 209.3 million in H1 2024, compared to a net profit of RMB 29.6 million in H1 2023[5] - Gross margin dropped to 1.1% in H1 2024 from 3.7% in H1 2023, a decrease of 2.6 percentage points[5] - Revenue increased by approximately RMB 408.8 million or 6.9% year-on-year, driven by higher sales of derivative chemicals, partially offset by a decline in coke sales[23] - Gross profit decreased significantly by approximately RMB 146.1 million or 67.6%, with the gross margin dropping from 3.7% in H1 2023 to 1.1% in H1 2024 due to a smaller decline in coal purchase prices compared to product selling prices[23] - Net loss attributable to the company's owners was RMB 156.98 million, a significant decline from a profit of RMB 43.17 million in the same period last year[22] - Basic loss per share was RMB 0.29, compared to a profit of RMB 0.08 in the same period last year[22] - Revenue for the six months ended June 30, 2024, was RMB 6,299.48 million, compared to RMB 5,890.693 million in the same period last year[80] - Gross profit for the six months ended June 30, 2024, was RMB 70.066 million, compared to RMB 216.192 million in the same period last year[80] - Net loss for the six months ended June 30, 2024, was RMB 209.32 million, compared to a net profit of RMB 29.611 million in the same period last year[80] - Basic loss per share for the six months ended June 30, 2024, was RMB 0.29, compared to a basic earnings per share of RMB 0.08 in the same period last year[80] - The company reported a pre-tax loss of RMB 260,680,000 for the six months ended June 30, 2024, compared to a pre-tax profit of RMB 4,314,000 for the same period in 2023[87] - Pre-tax loss for the six months ended June 30, 2024, was RMB 156,978 thousand, compared to a pre-tax profit of RMB 43,168 thousand for the same period in 2023[114] Segment Performance - The company's main revenue streams in H1 2024 came from coke production, derivative chemicals, energy products, and trading activities[4] - The average selling price of coke in the first six months of 2024 was RMB 2,118.19 per ton, a decrease from RMB 2,225.74 per ton in 2023[10] - The company produced approximately 1.9 million tons of coke in the first half of 2024, with a processing volume of 175,480 tons of crude benzene and 81,240 tons of coal tar[14] - Coke segment revenue decreased by approximately RMB 323.2 million, with the average selling price of coke dropping by 9.0% year-on-year, while the average purchase price of coking coal only fell by 3.0%, leading to a gross margin decline from 3.7% to 1.7%[25] - Derivative chemicals segment revenue increased by approximately RMB 561.2 million or 54.7%, driven by a 67.5% increase in sales of hydrogenated benzene-based chemicals, but the segment recorded a loss increase of RMB 23.4 million due to high raw material coal prices[26] - Energy products segment revenue increased by approximately RMB 29.2 million or 7.2%, mainly due to higher electricity sales from the first phase of the 1.6 million-ton coke oven, but the gross margin dropped from 12.6% to 4.4% due to smaller declines in coal prices compared to product prices[26] - The coke segment generated the highest external sales revenue of RMB 3,916,167 thousand, followed by derivative chemicals at RMB 1,586,863 thousand and energy products at RMB 432,309 thousand[103] - The coke segment's performance declined significantly, with segment profit dropping to RMB 66,588 thousand in H1 2024 from RMB 155,169 thousand in H1 2023[103][105] - The derivative chemicals segment reported a loss of RMB 35,170 thousand in H1 2024, compared to a loss of RMB 11,811 thousand in H1 2023[103][105] - Total revenue from customer contracts for the six months ended June 30, 2024, was RMB 7,320,594 thousand, with coke sales contributing RMB 4,003,452 thousand[93] - Revenue from derivative chemicals for the six months ended June 30, 2024, was RMB 1,608,783 thousand, with benzene-based chemicals contributing RMB 1,229,506 thousand[93] - Energy products revenue for the six months ended June 30, 2024, was RMB 787,926 thousand, with coal gas contributing RMB 408,604 thousand[93] - Trade revenue for the six months ended June 30, 2024, was RMB 497,696 thousand, with liquefied natural gas contributing RMB 171,398 thousand[93] - Total revenue from customer contracts for the six months ended June 30, 2023, was RMB 6,894,968 thousand, with coke sales contributing RMB 4,239,373 thousand[97] - Revenue from derivative chemicals for the six months ended June 30, 2023, was RMB 1,040,070 thousand, with benzene-based chemicals contributing RMB 647,289 thousand[97] - Energy products revenue for the six months ended June 30, 2023, was RMB 743,972 thousand, with coal gas contributing RMB 443,080 thousand[97] - Trade revenue for the six months ended June 30, 2023, was RMB 390,037 thousand, with liquefied natural gas contributing RMB 212,889 thousand[97] - Customer contract revenue after offsets for the six months ended June 30, 2024, was RMB 6,299,480 thousand, with coke sales contributing RMB 3,916,167 thousand[96] - Total revenue for the first half of 2024 reached RMB 7,320,594 thousand, with external sales contributing RMB 6,299,480 thousand and inter-segment sales contributing RMB 1,021,114 thousand[103] Costs and Expenses - Sales and distribution expenses increased significantly by approximately RMB 78.1 million or 65.4%, mainly due to higher freight costs for increased sales volume[24] - Administrative expenses increased by approximately RMB 14.2 million or 18.7%, primarily due to the expansion of derivative chemicals and hydrogen energy businesses following the listing of Jinyuan Hydrogenation[24] - Sales and distribution expenses increased to RMB 197,617 thousand in H1 2024 from RMB 119,492 thousand in H1 2023, reflecting higher operational costs[103][105] - Financing costs for the six months ended June 30, 2024, totaled RMB 68,809 thousand, with a capitalisation rate of 5.66%, compared to RMB 59,189 thousand and a capitalisation rate of 4.88% for the same period in 2023[110] - Construction costs for the six months ended June 30, 2024, amounted to RMB 186,057 thousand, primarily for coke equipment upgrade projects and other property, plant, and equipment improvements[116] - The company reported a loss of RMB 1,268 thousand from the disposal or scrapping of certain auxiliary equipment during the six months ended June 30, 2024, compared to a gain of RMB 84 thousand for the same period in 2023[116] Cash Flow and Liquidity - Operating cash flow for the first half of 2024 was RMB 530.4 million, a significant improvement from a negative RMB 5.96 million in the same period of 2023[28][29] - Net cash used in investing activities decreased to RMB 106.8 million in H1 2024 from RMB 540.5 million in H1 2023, primarily due to reduced property, plant, and equipment purchases[28][30] - Net cash used in financing activities was RMB 306.4 million in H1 2024, mainly due to loan repayments of RMB 1,745.2 million, partially offset by new borrowings of RMB 1,286.5 million[28][31] - The company's cash and cash equivalents increased by RMB 117.3 million in H1 2024, reaching RMB 1,039.9 million as of June 30, 2024[28] - Inventory decreased by RMB 214.6 million, contributing to the positive operating cash flow in H1 2024[29] - The company repaid RMB 917.5 million of bank loans that matured in H1 2024 through refinancing[35] - Operating cash flow before working capital changes was RMB 43,712,000 for the six months ended June 30, 2024, a significant decrease from RMB 219,556,000 in the same period in 2023[87] - Net cash generated from operating activities was RMB 530,423,000 for the six months ended June 30, 2024, compared to a net cash used of RMB 5,956,000 in the same period in 2023[87] - Net cash used in investing activities was RMB 106,770,000 for the six months ended June 30, 2024, a decrease from RMB 540,462,000 in the same period in 2023[88] - Net cash used in financing activities was RMB 306,365,000 for the six months ended June 30, 2024, compared to net cash generated of RMB 424,455,000 in the same period in 2023[88] - The company had a net increase in cash and cash equivalents of RMB 117,288,000 for the six months ended June 30, 2024, compared to a net decrease of RMB 121,963,000 in the same period in 2023[88] - The company had net current liabilities of approximately RMB 2,189,194,000 as of June 30, 2024, and unpaid capital commitments of RMB 85,977,000[90] - The company believes it has sufficient working capital to meet its financial obligations for the next 12 months, based on its current operations, available bank credit facilities, and expected new borrowings[90] Assets and Liabilities - Total assets decreased to RMB 11,769.8 million as of June 30, 2024, from RMB 12,535.0 million as of December 31, 2023[5] - Total bank borrowings decreased by RMB 458.7 million to RMB 3,435.1 million as of June 30, 2024, compared to December 31, 2023[33] - The company's total bank credit facilities increased to RMB 13,745.0 million as of June 30, 2024, with RMB 638.7 million still available for use[35] - Pledged assets increased to RMB 1,772.6 million as of June 30, 2024, up from RMB 1,397.1 million at the end of 2023, used as collateral for bank credit facilities[37] - The company's asset-liability ratio decreased slightly to 0.75x as of June 30, 2024, compared to 0.81x as of December 31, 2023, primarily due to a larger decrease in interest-bearing bank borrowings relative to total equity[38][39] - The company's return on equity (ROE) declined from 0.6% to -9.3%, and return on assets (ROA) dropped from -0.1% to -3.4%, mainly due to a significant increase in losses[38][39][40] - Capital expenditures for property, plant, and equipment decreased to RMB 85.977 million as of June 30, 2024, from RMB 133.390 million as of December 31, 2023[42] - The maximum risk amount for endorsed and discounted receivables as of June 30, 2024, was RMB 3.822773 billion, with RMB 2.438357 billion for endorsed bills to settle payables and RMB 1.384416 billion for discounted bills to raise cash[44] - The company had fixed-rate borrowings of approximately RMB 1.6824 billion as of June 30, 2024, down from RMB 1.9170 billion as of December 31, 2023[49] - The company faces significant credit risk concentration, with over 57% of trade receivables and trade-related receivables from shareholders and related parties concentrated in the top five outstanding balances as of June 30, 2024[51] - The company holds HKD 48.7 million in unremitted funds raised from the listing of its subsidiary, Jinyuan Hydrogenation, as of June 30, 2024, down from HKD 254.0 million as of December 31, 2023[47] - The company has no significant off-balance sheet arrangements or variable interests in non-consolidated entities as of June 30, 2024[43] - The company's liquidity risk management focuses on maintaining sufficient but not excessive cash and cash equivalents to fund operations and mitigate cash flow volatility[52] - The company did not enter into any foreign exchange or interest rate hedging contracts or forward commodity contracts during the first half of 2024[47] - The company's distributable reserves (retained profits) amounted to RMB 2,068.9 million as of June 30, 2024, showing a slight decrease from RMB 2,069.3 million as of December 31, 2023[53] - The company has no plans to distribute retained profits formed before the first half of 2024[53] - The company's financial and trading conditions have not experienced any significant adverse changes since June 30, 2024[54] - The company's dividend policy mandates that annual dividends will not be less than 25% of the company's attributable profit and total comprehensive income for the year[55] - No interim dividend was declared based on the interim results and financial position as of June 30, 2024[55] - Non-current assets increased slightly to RMB 8,654,339 thousand as of June 30, 2024, compared to RMB 8,649,368 thousand as of December 31, 2023[81] - Current assets decreased to RMB 3,115,436 thousand as of June 30, 2024, from RMB 3,885,610 thousand as of December 31, 2023[81] - Total equity attributable to the company's owners decreased to RMB 3,306,530 thousand as of June 30, 2024, from RMB 3,460,434 thousand as of December 31, 2023[82] - Non-controlling interests decreased to RMB 1,297,928 thousand as of June 30, 2024, from RMB 1,379,781 thousand as of December 31, 2023[82] - Total liabilities decreased to RMB 5,304,630 thousand as of June 30, 2024, from RMB 5,787,569 thousand as of December 31, 2023[81] - Net current liabilities increased to RMB (2,189,194) thousand as of June 30, 2024, from RMB (1,901,959) thousand as of December 31, 2023[81] - Total comprehensive income for the period ended June 30, 2024, was a loss of RMB 203,779 thousand[84] - Dividends declared during the period ended June 30, 2024, amounted to RMB 31,978 thousand[84] - Retained earnings decreased to RMB 1,868,733 thousand as of June 30, 2024, from RMB 2,025,599 thousand as of January 1, 2024[84] - Non-current liabilities decreased to RMB 1,860,687 thousand as of June 30, 2024, from RMB 1,907,194 thousand as of December 31, 2023[82] - The company transferred an additional 10% equity of Henan Jinrui Energy Co., Ltd. to Yuzhou (Jiyuan) Coking Group Co., Ltd. for RMB 20,000,000, with a prepayment of RMB 10,000,000 reducing the liability to RMB 10,000,000 as of June 30, 2023[85] - Deferred tax assets increased to RMB 163,657 thousand as of June 30, 2024, compared to RMB 140,744 thousand as of December 31, 2023[118] - Deferred tax liabilities decreased to RMB (31,654) thousand as of June 30, 2024, from RMB (71,939) thousand as of December 31, 2023[118] - Unused tax losses available for offsetting future profits amounted to RMB 778,704 thousand as of June 30, 2024, up from RMB 681,612 thousand as of December 31, 2023[118] - Trade receivables from customer contracts decreased to RMB 132,469 thousand as of June 30, 2024, from RMB 165,380 thousand as of December 31, 2023[119] - Prepayments to suppliers decreased to RMB 190,227 thousand as of June 30, 2024, from RMB 221,398 thousand as of December 31, 2023[119] - Trade and other receivables totaled RMB 405,574 thousand as of June 30, 2024, down from RMB 494,019 thousand as of December 31, 2023[119] - Receivables from a shareholder, Maanshan Iron & Steel Co., Ltd., increased to RMB 31,198 thousand as of June 30, 2024, from RMB 18,423 thousand as of December 31, 2023[121] - Receivables from related parties amounted to RMB 20,648 thousand as of June 30, 202

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 6,299.5 million, an increase of 6.9% compared to RMB 5,890.7 million for the same period in 2023[1] - The company reported a loss attributable to owners of the company of RMB 157.0 million, compared to a profit of RMB 43.2 million in the same period last year[1] - Basic loss per share was RMB 0.29, a decrease from earnings of RMB 0.08 per share in the prior year[1] - Gross profit decreased significantly to RMB 70.1 million, down 67.6% from RMB 216.2 million in the previous year[1] - The company reported a loss of RMB 209.3 million for the period, a decrease of RMB 238.9 million compared to a profit of RMB 29.6 million in the previous year[58] - The company recorded a net loss attributable to shareholders of RMB 156,978,000 for the six months ended June 30, 2024, compared to a profit of RMB 43,168,000 in the same period of 2023[31] Assets and Liabilities - Total assets less current liabilities amounted to RMB 6,465.1 million, a decrease from RMB 6,747.4 million as of December 31, 2023[3] - Non-current assets, including property, plant, and equipment, totaled RMB 8,654.3 million, slightly up from RMB 8,649.4 million at the end of 2023[2] - The company’s total equity amounted to RMB 4,604,458 thousand, a decrease from RMB 4,726,480 thousand as of January 1, 2024[4] - The company’s total liabilities as of June 30, 2024, amounted to RMB 2,189,194,000, with an additional RMB 85,977,000 in unpaid capital commitments[8] - The company reported a non-current liability of RMB 1,006,355,000 due after one year as of June 30, 2024, down from RMB 1,505,371,000 as of December 31, 2023, reflecting a decline of about 33.2%[41] Cash Flow and Liquidity - Operating cash flow for the six months ended June 30, 2024, was RMB 530,423 thousand, a significant increase from a cash outflow of RMB 5,956 thousand in the same period of 2023[6] - The company’s cash and cash equivalents increased to RMB 1,039.9 million from RMB 917.9 million, indicating improved liquidity[2] - The company confirmed no liquidity issues during the first half of 2024, with plans to maintain a certain level of cash reserves for operational needs[80] - The net cash used in investing activities for the first half of 2024 was RMB (106,770,000), a substantial improvement from RMB (540,462,000) in the same period of 2023, indicating a reduction of about 80.3%[7] Revenue Breakdown - Revenue for the six months ended June 30, 2024, was RMB 6,894,968 thousand, a decrease from RMB 5,890,693 thousand after offsets[16] - The revenue breakdown includes RMB 4,239,373 thousand from coke, RMB 1,040,070 thousand from derivative chemicals, and RMB 743,972 thousand from energy products[20] - External sales for coke amounted to RMB 3,916,167 thousand, while total segment performance showed a profit of RMB 70,473 thousand[20] - The company reported a pre-tax loss of RMB 260,680 thousand for the period[20] Segment Performance - The coking segment revenue decreased by approximately RMB 323.2 million, primarily due to a 9.0% decline in average selling prices, while the gross margin dropped from 3.7% to 1.7%[78] - The trading segment revenue increased by approximately RMB 137.5 million, but the gross margin fell from 9.6% to 3.3%, resulting in a 39.9% decline in segment performance to about RMB 10.4 million[79] - The derivative chemicals segment revenue rose by approximately RMB 561.2 million or 54.7%, with sales volume increasing by about 67.5%, yet the segment incurred a loss of approximately RMB 35.2 million due to high raw material costs[79] - The energy products segment revenue increased by approximately RMB 29.2 million or 7.2% to RMB 432.3 million, but the gross margin decreased from 12.6% to 4.4%, leading to a 62.8% decline in segment performance to about RMB 18.9 million[79] Employee and Management - The total employee costs for the six months ended June 30, 2024, amounted to RMB 146,832,000, an increase from RMB 132,102,000 in the same period of 2023[28] - The company employed a total of 2,861 staff, including 11 senior management and 113 middle management personnel[125] - The total compensation for key management personnel was RMB 2,922,000 for the six months ended June 30, 2024, a slight decrease of 1.3% from RMB 2,959,000 for the same period in 2023[55] Future Outlook and Strategy - The company is actively expanding its LNG and hydrogen production and sales business, aiming to enhance its product portfolio along the coal chemical industry chain[57] - The board believes that the ongoing supply-side reforms in the Chinese coke industry will create new opportunities for long-term business development[57] - The company aims to maintain continuous profit growth through investments in production and environmental protection, enhancing service levels for steel and chemical enterprises in China[57] Governance and Compliance - The board of directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[115] - The company has established a remuneration committee to recommend policies regarding director remuneration based on overall performance and market practices[125] - The audit committee reviewed the company's financial data and the unaudited interim financial statements for the reporting period[126]

Financial Performance - The group's gross profit margin decreased from approximately 9.16% in 2022 to about 3.71% in 2023, marking the lowest level since the company's listing in 2017[31]. - The net profit attributable to shareholders dropped significantly from approximately RMB 422.0 million in 2022 to about RMB 22.3 million in 2023[31]. - In 2023, the company's revenue decreased by approximately RMB 376.3 million or about 3.0% to approximately RMB 12,072.3 million, primarily due to a decline in product prices despite stable production levels[55]. - The average gross profit margin dropped from 9.2% in 2022 to 3.7% in 2023, attributed to the disparity in the decline of raw material prices compared to product prices[55]. - The net loss for the year was RMB 6.1 million in 2023, a significant decline from a profit of RMB 570.8 million in 2022[54]. - The group's profit before tax significantly decreased from approximately RMB 727.3 million in 2022 to a loss of about RMB 51.0 million in 2023, a decline of approximately 107.0%[65]. - Total comprehensive income fell from approximately RMB 570.8 million in 2022 to a loss of about RMB 6.0 million in 2023, a decrease of approximately 101.1%[68]. Production and Operations - The joint venture with Xinyang Company, Xinyang Jinguang, produced approximately 720,000 tons of coke in 2023, following the successful operation of the first phase of a project with an investment of about 1.6 million tons[31]. - The production of coke in 2023 was approximately 3.8 million tons, with coal tar and crude benzene processing volumes at approximately 173,000 tons and 244,000 tons, respectively[50]. - The coking segment's revenue decreased by approximately 2.3% in 2023, despite a 22.2% increase in sales volume, due to a 19.0% drop in average selling price[70]. - The energy products segment recorded a revenue growth of approximately 17.8% in 2023, driven by new electricity sales from the coking plant, despite a 28.9% drop in LNG prices[71]. - The trading segment's revenue decreased by approximately RMB 363.7 million or 40.9% in 2023, primarily due to reduced trading volume in coking products[72]. Market Conditions and Pricing - Coke prices fell over 20% in Q1 2024, but are expected to rebound alongside steel product prices in April 2024, which may enhance coal and coke profitability[31]. - The average selling price of coke decreased from RMB 2,768.78 per ton in 2022 to RMB 2,235.74 per ton in 2023, representing a decline of approximately 19.2%[43]. - The average selling price of LNG also saw a significant drop from RMB 6,128.70 per cubic meter in 2022 to RMB 4,360.35 per cubic meter in 2023, a decrease of about 28.8%[43]. - The average selling price of industrial naphthalene increased from RMB 4,757.89 in 2022 to RMB 5,034.84 in 2023, reflecting a rise of approximately 5.8%[43]. Financial Position and Assets - The total assets as of December 31, 2023, were RMB 12,535.0 million, indicating a stable asset base despite the challenging market conditions[30]. - The company's interest-bearing borrowings as of December 31, 2023, were approximately RMB 3,893.8 million, compared to RMB 3,143.1 million as of December 31, 2022[51]. - The company's asset-liability ratio increased to 0.8 times in 2023 from 0.67 times in 2022, primarily due to the consolidation of a non-wholly owned subsidiary with new borrowings[84]. - The company's total bank credit facilities reached approximately RMB 9,520.0 million in 2023, up from RMB 3,660.0 million in 2022, with RMB 820.1 million still available for use[82]. Dividends and Shareholder Returns - The company will not declare a final dividend for the year ending December 31, 2023, maintaining a total dividend of RMB 0.05 per share for the year[32]. - The total dividend for the year ended December 31, 2023, was RMB 0.05 per share, representing approximately 114.5% of the total comprehensive income attributable to owners[110]. - The company declared an interim dividend of RMB 0.05 per share for the six months ended June 30, 2023, totaling RMB 26,771,050[109]. Strategic Initiatives and Future Plans - The company aims to become the largest hydrogen supply base in Henan Province, focusing on the development of a modern energy chemical enterprise[11]. - The company is actively expanding its LNG and hydrogen production and sales business as part of its vertical integration strategy[36]. - The company plans to optimize production efficiency, costs, and quality in its core coke business while expanding hydrogen refueling stations in Zhengzhou and nearby cities[32]. - The company plans to expand hydrogen refueling stations in Henan Province, including areas with hydrogen application scenarios, in 2024[113]. - The company has capital commitments of RMB 133.4 million for the construction of a coking project with an annual capacity of approximately 1.6 million tons as of December 31, 2023[92]. Governance and Compliance - The company adheres to a robust corporate governance framework, ensuring compliance with international standards and enhancing internal control systems[123]. - The board of directors emphasized the importance of maintaining strong relationships with coal suppliers to ensure stable operations[36]. - The company has implemented a comprehensive governance policy to review compliance with legal and regulatory requirements[132]. - The audit committee confirmed that there were no significant weaknesses or deficiencies in the company's risk management and internal control systems during the reporting period[185]. Employee and Social Responsibility - The company’s employee count increased to 2,963 by December 31, 2023, up from 2,848 in 2022, with total employee costs reaching approximately RMB 275.2 million[118]. - The company has achieved a measurable gender diversity target with approximately 18% of total employees being female, including senior management[152]. - The company provides practical benefits for female employees, including health check-ups and facilities for breastfeeding[152]. - The company has partnered with several universities to cultivate professional management and technical talent, supporting its "talent-driven enterprise" strategy[167]. Environmental, Social, and Governance (ESG) Initiatives - The company aims to integrate sustainable development principles deeply into its operations, reflecting a strong commitment to corporate social responsibility[196]. - The company has established a dedicated ESG management system, with the board overseeing the commitment and performance related to ESG issues[197]. - The ESG working group is composed of multiple core departments, including the External Investment Department and the Environmental Protection Department, to form a collaborative mechanism[199]. - The company has been recognized as an advanced collective in energy conservation and emission reduction in Henan Province, highlighting its commitment to sustainability[195].