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].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 12,072.3 million, a decrease from RMB 12,448.6 million in the previous year[6] - Gross profit for the year was RMB 448.5 million, down from RMB 1,140.8 million year-on-year, indicating a significant decline[4] - The net loss attributable to shareholders for the year was RMB 6.1 million, compared to a profit of RMB 570.8 million in the previous year[18] - Basic earnings per share decreased to RMB 0.04 from RMB 0.79 year-on-year[11] - The net profit for the year ended December 31, 2023, was RMB 421,950,000, compared to RMB 570,784,000 for the previous year, indicating a decrease of 26.0%[23] - The company reported a total comprehensive income of RMB 570,748,000 for the year, slightly down from RMB 570,784,000 in the previous year[23] Assets and Liabilities - Non-current assets increased to RMB 8,649.4 million as of December 31, 2023, compared to RMB 7,124.2 million in the previous year[13] - Total equity attributable to shareholders decreased to RMB 3,460.4 million from RMB 3,513.9 million year-on-year[20] - The company’s total assets less current liabilities stood at RMB 6,747.4 million, slightly up from RMB 6,697.8 million in the previous year[20] - The group had a net current liability of approximately RMB 1,901,959,000 as of December 31, 2023[48] - The group’s current assets totaled RMB 478,258,000[101] - As of December 31, 2023, the total current assets amounted to RMB 551,767,000, while non-current assets were RMB 1,109,019,000[141] Cash Flow and Financing - The company reported a net cash outflow from investing activities of RMB 898.7 million, compared to RMB 1,828.0 million in the previous year[16] - Cash and cash equivalents at the end of 2023 were RMB 917,869,000, showing a slight increase from RMB 913,992,000 at the end of 2022[29] - The company raised RMB 2,007,833,000 through bank borrowings in 2023, compared to RMB 2,423,378,000 in 2022, representing a decrease of 17.2%[29] - The interest paid during the financing activities increased to RMB 203,721,000 in 2023 from RMB 118,366,000 in 2022, marking an increase of 72.0%[29] - The total borrowings increased to RMB 3,943,791 thousand in 2023 from RMB 3,223,120 thousand in 2022, reflecting a rise of about 22.4%[192] Inventory and Expenses - The company’s inventory increased by RMB 262,462,000 for the year ended December 31, 2023, compared to a decrease of RMB 117,433,000 in the previous year[35] - The total expenses for the same period amounted to RMB 2,248,083,000[115] - The group reported a decrease in trade and other receivables from RMB 800,520,000 in 2022 to RMB 494,019,000 in 2023[128] Shareholder and Equity Information - As of December 31, 2023, total equity amounted to RMB 4,840,215,000, an increase from RMB 4,726,480,000 as of December 31, 2022, reflecting a growth of 2.4%[23] - The company issued new shares to non-controlling interests amounting to RMB 260,887,000 in 2023, with no such issuance in the previous year[29] - The company paid dividends of RMB 53,542,000 to non-controlling interests in 2023, compared to RMB 14,700,000 in 2022, reflecting an increase of 264.0%[29] Tax and Deferred Income - Deferred tax assets increased to RMB 140,744,000, while deferred tax liabilities decreased to RMB (71,939,000) as of December 31, 2023[111] - The group recognized deferred tax assets of RMB 170,204,000 for tax losses of RMB 680,816,000 as of December 31, 2023, up from RMB 6,187,000 for RMB 24,748,000 in 2022[126] - As of December 31, 2023, the group reported deferred income from government subsidies related to asset purchases amounting to RMB 18,440,000, a decrease from RMB 20,644,000 in 2022[165] Operational Highlights - The company has established a business location in Hong Kong, which may facilitate future market expansion efforts[36] - The company continues to recognize assets related to the sale and leaseback of certain coke oven facilities, as the transfer did not meet the sales criteria[163] - The company has established a 30-year land lease agreement for the expansion of the "Zenan Reservoir," with rental adjustments every five years based on national grain purchase prices[152] Risk Management - The group assesses whether there is objective evidence indicating potential impairment of interests in associates or joint ventures[55] - The management continuously monitors credit risk levels to ensure timely follow-up actions on overdue debts[198] - The company maintains long-term relationships with quality customers to mitigate credit risk[198]

Financial Performance - The company's revenue for the six months ended June 30, 2023, was RMB 5,890.7 million, a decrease of RMB 638.1 million or 9.8% compared to RMB 6,528.8 million in the same period of 2022[6]. - Gross profit for the same period was RMB 216.2 million, down RMB 609.0 million or 73.8% from RMB 825.2 million in 2022, resulting in a gross margin of 3.7% compared to 12.6% in the previous year[6]. - Net profit for the six months ended June 30, 2023, was RMB 29.6 million, a decline of RMB 454.5 million or 93.9% from RMB 484.1 million in 2022, leading to a net profit margin of 0.5% compared to 7.4%[6]. - The total comprehensive income for the period was RMB 29,976 thousand, down from RMB 486,056 thousand in the previous year[168]. - Basic earnings per share decreased to RMB 0.08 from RMB 0.58, representing a decline of 86.2%[168]. Dividends - The company maintained an interim dividend of RMB 0.05 per share, unchanged from the previous year[6]. - The company declared a final dividend of RMB 0.05 per share for the year-end 2022, totaling RMB 26,771,000, which was fully paid in June 2023[139]. - The interim dividend for H shares will be paid in RMB for shares converted under the "full circulation" plan, while other H shares will be paid in HKD at a rate of HKD 0.0544327 per share[140]. Assets and Liabilities - Total assets as of June 30, 2023, increased to RMB 11,786.5 million, up RMB 555.4 million from RMB 11,231.1 million at the end of 2022[6]. - As of June 30, 2023, the asset-liability ratio increased to 0.82 from 0.68 as of December 31, 2022[86]. - The company's total equity as of June 30, 2023, was RMB 4,672,685 thousand, a decrease from RMB 4,726,480 thousand at the end of 2022[170]. - Non-current liabilities decreased to RMB 1,863,477 thousand from RMB 1,971,364 thousand, indicating a reduction in long-term financial obligations[170]. - Current liabilities rose to RMB 5,250.30 million as of June 30, 2023, up from RMB 4,533.24 million at the end of 2022, indicating an increase of about 15.9%[199]. Cash Flow - In the first half of 2023, the net cash outflow from operating activities was approximately RMB 5.96 million, primarily due to changes in working capital and a decrease in trade and other receivables totaling RMB 213.7 million[77]. - The net cash used in investing activities was approximately RMB 540.5 million, mainly from the purchase of property, plant, and equipment amounting to RMB 599.2 million[78]. - The net cash generated from financing activities was approximately RMB 424.5 million, offset by a net decrease in bank and other borrowings of RMB 594.4 million[80]. Market Conditions - The company faces risks related to price fluctuations of its products and raw materials, which can impact its profit margins and operational cash flow[10]. - The market prices of coking coal and coke have shown volatility, with a narrowing price gap affecting the company's gross profit margin since mid-2021[14]. - 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 for steel production[10]. Strategic Initiatives - The company is actively expanding its LNG and hydrogen production and sales business, aiming to extend its industrial chain into higher-end new energy products[4]. - The company plans to launch a 200,000-ton benzene chemical production expansion project in Q3 2023, with a total investment of approximately RMB 375 million[35]. - The company is planning to enter the hydrogen energy industry chain, with hydrogen refueling stations established in Zhengzhou and Jiyuan, expected to operate in Q4 2023[36]. - The company plans to further expand and deepen investments in the coking value chain, including the hydrogen energy industry chain[59]. Employee and Management - As of June 30, 2023, the total number of employees in the group is 2,915, with employee costs amounting to RMB 132.10 million, an increase from RMB 110.8 million in the same period last year[192]. - The management's remuneration is based on annual salary and bonuses, with ordinary employees' remuneration consisting of basic salary, bonuses, and various allowances[161]. - The group has established an annual training plan for employees, focusing on management and financial training, to enhance workforce capabilities[193]. Compliance and Governance - The company has complied with all provisions under the listing rules and codes during the six months ending June 30, 2023[146]. - The board confirmed compliance with the standard code regarding securities trading by all directors and supervisors during the reporting period[147]. - The management continues to monitor credit risk by requiring prepayment from new customers and reviewing the recoverable amounts of overdue debts[137].

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 截至2023年6月30日止六個月中期業績公告 財務摘要 收益 :人民幣5,890.7百萬元 本公司擁有人應佔期內溢利 :人民幣43.2百萬元 每股基本盈利 :人民幣0.08元 每股中期股息 :人民幣0.05元 業績 河南金馬能源股份有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其 附屬公司（統稱（「本集團」）截至2023年6月30日止六個月的未經審核綜合業績， 連同截至2022年6月30日止六個月的比較數字。 ...

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].