Financial Performance - Operating revenue decreased by 20.29% to CNY 2,913,173,433.35 for the period from January to September[6] - Net profit attributable to shareholders was a loss of CNY 64,550,713.18, a decrease of 139.17% compared to the same period last year[6] - The net cash flow from operating activities was negative CNY 86,392,727.73, a decline of 137.88% year-on-year[6] - Basic earnings per share were negative CNY 0.0530, down 132.66% from CNY 0.1623 in the previous year[6] - The weighted average return on net assets decreased by 6.64 percentage points to -1.88%[6] - Total operating revenue for Q3 2019 was ¥931,470,950.48, a decrease of 26.4% compared to ¥1,265,907,698.94 in Q3 2018[25] - Net profit for Q3 2019 was a loss of ¥27,368,024.40, compared to a profit of ¥128,849,354.31 in Q3 2018, indicating a significant decline[26] - The company reported a total profit of -¥3,590,184.39 in Q3 2019, contrasting with a profit of ¥194,224,347.10 in the same period last year[26] - The total operating revenue for the first three quarters of 2019 was ¥2,913,173,433.35, down from ¥3,654,717,847.83 in the same period of 2018, reflecting a decline of 20.3%[25] - The company reported a total comprehensive income for Q3 2019 was -¥28,935,524.40, compared to ¥120,513,104.31 in Q3 2018, indicating a substantial decrease[27] Assets and Liabilities - Total assets increased by 3.31% to CNY 13,157,283,291.37 compared to the end of the previous year[6] - Total liabilities increased to CNY 8,788,389,590.33 from CNY 8,080,754,071.93, representing an increase of approximately 8.8% year-over-year[22] - Total assets reached CNY 11,441,226,917.07, up from CNY 10,860,691,054.19, indicating a growth of about 5.3% compared to the previous year[22] - Current assets totaled CNY 6,123,437,931.47, an increase from CNY 5,736,222,026.27, reflecting a growth of approximately 6.8%[21] - Total liabilities amounted to ¥8,357,474,685.83, with current liabilities at ¥7,878,203,023.30 and non-current liabilities at ¥479,271,662.53[42] - The company reported a cash balance of ¥2,300,739,417.92 and accounts receivable of ¥1,270,353,965.44[44] Shareholder Information - The total number of shareholders reached 47,124 by the end of the reporting period[9] - The largest shareholder, Zhengzhou Coal Industry (Group) Co., Ltd., held 63.83% of the shares, with 342,000,000 shares pledged[9] - The company's equity attributable to shareholders totaled CNY 2,652,837,326.74, down from CNY 2,779,936,982.26, indicating a decrease of approximately 4.6%[22] - The total owner's equity reached CNY 4,508,562,809.38, compared to CNY 4,378,442,013.73, reflecting an increase of about 3.0%[22] Cash Flow - Cash flow from operating activities for the first three quarters of 2019 was a net outflow of ¥86.39 million, a significant decline from a net inflow of ¥228.07 million in the same period of 2018[35] - The total cash inflow from operating activities for the first three quarters of 2019 was approximately ¥2.98 billion, down from ¥3.51 billion in the same period of 2018[35] - Total cash inflow from financing activities was ¥3,495,793,062.45, down from ¥3,749,956,604.83 in the same period last year, representing a decline of 6.8%[38] - The company incurred cash outflows of ¥3,669,371,843.43 in financing activities, compared to ¥3,853,535,865.34 in Q3 2018, indicating a reduction of 4.8%[38] Investment and Expenses - Investment income increased by 36.59% to ¥651,041.82, mainly from dividends received from securities[12] - Research and development expenses for the first three quarters of 2019 were ¥776,792.45, slightly up from ¥770,754.72 in the same period of 2018[25] - The company incurred financial expenses of ¥157,999,978.55 in the first three quarters of 2019, down from ¥206,997,514.78 in the same period of 2018[25] - Sales expenses increased to ¥15.90 million in Q3 2019, up from ¥12.89 million in Q3 2018, reflecting higher marketing costs[30] - The company reported investment income of ¥35.70 million in Q3 2019, compared to ¥360 million in the same period of 2018, indicating a significant decrease[30] Future Outlook - Net profit for the third quarter is expected to decline significantly due to geological conditions and production transitions, with three out of six mines experiencing reduced output and coal quality[13] - The company anticipates that production issues will improve in 2020, with specific mines expected to return to normal operations in the first half of the year[14] - The company has implemented measures to enhance quality and efficiency in response to production challenges[14]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,981,702,482.87, a decrease of 17.04% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 10,541,487.54, down 89.74% year-on-year[19]. - The net cash flow from operating activities was negative at CNY -305,096,315.14, a decline of 308.58% compared to the previous year[19]. - Basic earnings per share for the first half of 2019 were CNY 0.0104, a decrease of 89.72% compared to CNY 0.1012 in the same period last year[20]. - The weighted average return on net assets was 0.31%, down 2.69 percentage points from the previous year[20]. - The company reported a significant decrease in other comprehensive income, which rose by 125.42% to 23,050,483.49 yuan due to fair value changes[36]. - The company anticipates a substantial decline in net profit for the year compared to the previous period[43]. - The company reported a total revenue of 64,542.67 million RMB for the first half of 2019, with a gross margin of 21.15%[56]. - The company reported a decrease in undistributed profits, which fell to CNY 153,056,752.16 from CNY 255,977,122.27, indicating a decline of approximately 40%[109]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 13,987,739,093.76, an increase of 9.83% from the end of the previous year[19]. - The total current assets as of June 30, 2019, amount to 7,100,387,399.77 RMB, an increase from 6,043,218,767.29 RMB at the end of 2018[81]. - Total liabilities reached CNY 9,412,066,670.28, compared to CNY 8,357,474,685.83, reflecting a rise of about 12.59%[84]. - The total liabilities increased to CNY 9,702,744,031.25 in the first half of 2019, compared to CNY 8,080,754,071.93 in the same period of 2018, reflecting a growth of 20.1%[88]. - The total equity attributable to shareholders increased to CNY 3,504,298,764.30 from CNY 3,383,630,584.79, indicating a growth of about 3.57%[84]. - Short-term borrowings increased by 57.50% to 3,191,000,000 yuan compared to the previous period[36]. - The total non-current liabilities decreased to CNY 414,628,194.15 from CNY 479,271,662.53, reflecting a decline of approximately 13.54%[84]. Operational Highlights - The company achieved a raw coal production of 3.81 million tons and a power generation of 109 million kWh during the reporting period[33]. - The company maintained a strong market presence, with 73% of coal sales concentrated in the Zhengzhou region[32]. - The company has implemented innovative management practices to enhance efficiency and reduce costs, including technology-driven initiatives that generated an economic benefit of 1.55 million RMB[31]. - The company is focused on safety management and production organization to mitigate geological and production challenges, ensuring stable coal output[30]. - The company plans to implement measures to mitigate adverse factors affecting production and pricing, aiming to achieve annual targets[43]. Market and Industry Context - The coal industry saw a total revenue of 1.1783 trillion RMB, representing a year-on-year growth of 5.8%, although the growth rate decreased by 31.8 percentage points compared to the previous year[26]. - The average price of thermal coal (5500 kcal) was 562 RMB/ton, which is a decrease of 9.5 RMB/ton compared to the previous year[26]. - Environmental policy risks are increasing as the government imposes stricter standards, leading to rising environmental expenditure that may affect operational performance[46]. - The company anticipates rising production costs due to the decreasing availability of coal resources and increasing procurement prices, which could impact overall profitability[46]. - The coal mining industry faces significant safety production risks due to various hazards such as water, fire, gas, and coal dust, which could severely impact normal operations if major accidents occur[44]. Related Party Transactions - The company engaged in related party transactions amounting to 1,500.88 million RMB for raw coal purchases, representing 32.84% of the market price[55]. - The company reported a related party transaction of 4,632.92 million RMB for electricity purchases, which is 58.82% of the market price[55]. - The company reported a related party transaction of 8,018.40 million RMB for construction services, representing 42.94% of the market price[55]. - The company has not disclosed any significant changes in related party transactions or guarantees during the reporting period[57]. Environmental Management - The company’s key pollutant emissions include Chemical Oxygen Demand (COD) at 18.48 tons, which is below the permitted limit of 150 tons/year[64]. - The wastewater treatment capacity of the coal mine's water treatment station is 2500 m³/h, ensuring compliance with environmental standards[64]. - The company achieved a 100% safe disposal rate for solid and hazardous waste, indicating effective waste management practices[64]. - The company has implemented a comprehensive environmental management system, resulting in no environmental pollution disputes or incidents during the reporting period[68]. - The company has transitioned from coal-fired boilers to gas boilers, significantly reducing air pollution emissions[68]. Governance and Shareholder Information - The largest shareholder, Zhengzhou Coal Industry (Group) Co., Ltd., holds 63.83% of shares, with 648,059,213 shares pledged at 285,000,000[75]. - The company has undergone a board restructuring, with new appointments including Yu Zeyang as Chairman and Liu Jun as a director[77]. - The 2018 annual shareholders' meeting approved 10 out of 11 agenda items, reflecting strong governance and shareholder support for operational strategies[48]. - The company has not reported any changes in controlling shareholders or actual controllers during the reporting period[76]. Financial Reporting and Compliance - The company's financial statements comply with the requirements of the Chinese Accounting Standards, reflecting the financial position, operating results, changes in shareholders' equity, and cash flows accurately[121]. - The accounting period for the company runs from January 1 to December 31 each year[122]. - The company's accounting currency is Renminbi (RMB)[124]. - The company applies the acquisition method for business combinations, measuring the acquired assets and liabilities at their fair value on the acquisition date[125].

证券代码：600121 证券简称：郑州煤电 公告编号：临 2019-018 郑州煤电股份有限公司 关于参加 2019 年河南上市公司投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 召开时间：2019 年 6 月 27 日（星期四）14:30--17:30，16:00 开始网 上交流 召开地点：投资者互动平台 http://rs.p5w.net 召开方式：网络远程在线交流 一、会议类型 郑州煤电股份有限公司（以下简称"公司"）2018 年年度报告 已于 2019 年 4 月 23 日在《中国证券报》《上海证券报》及上海证券 交易所网站（http://www.sse.com.cn）披露。为便于广大投资者更 为全面地了解公司情况，公司特参加由河南上市公司协会主办的河南 辖区上市公司 2019 年网上集体接待日活动，围绕 2018 年年度报告、 公司治理、发展战略、经营状况、融资计划、股权激励、投资者保护、 可持续发展等投资者所关心的问题进行沟通交流。 二、会议召开时间、地点 召 ...

Financial Performance - Operating revenue decreased by 10.87% to CNY 1,003,493,125.26 year-on-year[7] - Net profit attributable to shareholders decreased by 84.40% to CNY 6,470,057.65 compared to the same period last year[7] - Basic earnings per share decreased by 84.31% to CNY 0.0064 compared to the same period last year[7] - The company reported a significant decline in net profit and operating revenue, indicating potential challenges in the market[12] - The company anticipates a significant decline in net profit for the year due to adverse geological conditions affecting coal quality and pricing[15] - The net profit attributable to the parent company was ¥6,470,057.65, down 84.4% from ¥41,469,451.47 in the same period last year[30] - The total comprehensive income attributable to the parent company was ¥23,356,307.65, a decline of 36.1% compared to ¥36,553,201.47 in Q1 2018[30] - The company reported a net loss of ¥34,440,131.67 for Q1 2019, contrasting with a net profit of ¥296,695,662.37 in Q1 2018[33] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 60.41% to CNY 26,246,440.55 year-on-year[7] - The company's cash and cash equivalents increased to ¥4,166,458,312.88, a rise of 32.25% from the beginning of the year, primarily due to increased financing during the period[13] - Cash and cash equivalents increased to CNY 3,372,577,810.72 as of March 31, 2019, up from CNY 2,300,739,417.92 at the end of 2018, indicating improved liquidity[24] - Cash inflow from investment activities was 80,000,000.00 RMB in Q1 2019, consistent with 80,602,900.00 RMB in Q1 2018, indicating stability in investment returns[41] - The net cash flow from financing activities was 156,520,288.78 RMB in Q1 2019, a significant improvement from -33,160,853.23 RMB in Q1 2018, marking a turnaround[41] - The company raised 1,375,000,000.00 RMB in loans during Q1 2019, compared to 540,000,000.00 RMB in Q1 2018, indicating a substantial increase of approximately 154%[41] Assets and Liabilities - Total assets increased by 9.89% to CNY 13,995,730,205.98 compared to the end of the previous year[7] - The total assets of the company reached ¥13,995,730,205.98, an increase from ¥12,735,916,699.56 at the end of the previous year[20] - Total liabilities increased to CNY 9,172,747,623.55 from CNY 8,080,754,071.93, reflecting a growth in financial obligations[26] - The company’s retained earnings decreased to CNY 221,536,990.60 from CNY 255,977,122.27, reflecting a reduction in accumulated profits[26] - The company’s total equity increased slightly to CNY 2,782,141,110.90 from CNY 2,779,936,982.26, indicating stability in shareholder equity[26] Shareholder Information - The total number of shareholders reached 49,085 at the end of the reporting period[10] - The largest shareholder, Zhengzhou Coal Industry (Group) Co., Ltd., holds 63.83% of the shares, with 285,000,000 shares pledged[10] Cost Management - Management expenses decreased by 38.73% to ¥84,777,185.74, primarily due to reduced employee compensation[14] - Financial expenses dropped by 33.77% to ¥39,319,257.95, reflecting lower financing costs[14] - The company reported a decrease in management expenses to CNY 84,777,185.74 from CNY 138,357,803.41, suggesting cost control measures[29] - Total operating costs for Q1 2019 were CNY 953,274,471.05, down from CNY 1,000,488,473.33 in Q1 2018, reflecting a cost reduction strategy[28]

2018 年年度报告 公司代码：600121 公司简称：郑州煤电 郑州煤电股份有限公司 2018 年年度报告 1 / 146 2018 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | --- | --- | --- | --- | | 董事长 | 郭矿生 | 身体原因 | 邹山旺 | 三、 亚太（集团）会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人郭矿生、主管会计工作负责人余鑫及会计机构负责人（会计主管人员）余鑫声明： 保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经亚太（集团）会计师事务所（特殊普通合伙）审计，公司 2018 年度实现合并净利润 390,274,258.40 元，归属母公司净利润 152,465,255.40 元，基本每股收益 0.1502 元。母公司 ...

Financial Performance - Operating revenue decreased by 18.85% to CNY 3.65 billion for the first nine months compared to the same period last year[6] - Net profit attributable to shareholders decreased by 73.22% to CNY 164.78 million for the first nine months compared to the same period last year[6] - Basic earnings per share decreased by 73.21% to CNY 0.1623 for the first nine months compared to the same period last year[6] - Cash flow from operating activities decreased by 52.27% to CNY 228.07 million for the first nine months compared to the same period last year[6] - The weighted average return on net assets decreased by 15.17 percentage points to 4.76% compared to the same period last year[6] - Operating revenue for the first nine months of 2018 was CNY 3.65 billion, a decrease of 18.8% compared to CNY 4.50 billion in the same period last year[24] - Net profit for the first nine months was CNY 516.49 million, a decline of 44.7% from CNY 932.38 million year-over-year[24] - Total profit for the first nine months of 2018 was ¥159,974,807.68, a decrease of 49.69% compared to ¥317,033,279.63 in the previous year[28] - Operating profit for the first nine months of 2018 was ¥131,878,058.90, down 53.19% from ¥281,579,638.97 in the same period of 2017[28] Assets and Liabilities - Total assets increased by 7.82% to CNY 12.14 billion compared to the end of the previous year[6] - The total assets of the company reached ¥12,141,266,130.10, up from ¥11,260,616,977.42, indicating an increase of 7.8% year-over-year[19] - Total liabilities increased to CNY 7.98 billion, up from CNY 7.02 billion, reflecting a rise of approximately 13.7%[23] - The company's total liabilities increased to ¥7,218,771,079.45 from ¥6,855,967,583.25, reflecting a rise of 5.3%[19] - Short-term borrowings decreased by 37.04% to ¥1,911,000,000.00 from ¥3,035,500,000.00, primarily due to repayment of loans[18] - Accounts payable and notes payable rose significantly by 68.38% to ¥3,614,521,743.34 from ¥2,146,698,879.30, mainly due to the issuance of bank acceptance bills[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 48,780[10] - The largest shareholder, Zhengzhou Coal Industry (Group) Co., Ltd., holds 63.83% of the shares[10] Cash Flow - The company's operating cash flow for the first nine months of 2018 was ¥228,074,178.81, a decrease of 52.4% compared to ¥477,811,133.42 in the same period last year[32] - Total cash inflow from operating activities was ¥3,510,816,650.87, down 24.7% from ¥4,666,569,903.62 year-on-year[32] - Cash outflow for purchasing goods and services was ¥1,492,057,281.97, a decrease of 36.1% from ¥2,332,877,294.05 in the previous year[32] - The net cash flow from investing activities was ¥2,585,515.72, recovering from a negative cash flow of ¥99,518,924.21 in the same period last year[33] - Cash inflow from financing activities totaled ¥4,016,000,000.00, an increase of 15.6% compared to ¥3,475,500,000.00 in the previous year[33] - The company repaid debts amounting to ¥2,545,500,000.00, which is an increase of 49.0% from ¥1,706,000,000.00 last year[33] Other Financial Metrics - Non-operating income for the first nine months amounted to CNY 28.06 million[8] - The company's financial expenses increased by 43.86% to ¥206,997,514.78 from ¥143,886,606.07, attributed to higher financing costs[12] - The company's deferred income tax liabilities decreased by 45.46% to ¥3,907,244.48 from ¥7,164,253.79, primarily due to fair value changes in investments[19] - The company's other comprehensive income decreased by 45.44% to ¥11,721,733.49 from ¥21,482,983.49, mainly due to fair value changes in investments[19] - The company recorded other comprehensive income after tax of -¥8,336,250.00 for Q3 2018, compared to -¥10,647,379.96 in Q3 2017[25] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[24]

2018 年半年度报告 公司代码：600121 公司简称：郑州煤电 郑州煤电股份有限公司 2018 年半年度报告 1 / 112 2018 年半年度报告 重要提示 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 由于行业特点，本公司生产经营除受矿井安全生产和接替等内部影响外，还可能受到宏观经 济、国家政策和市场供需变化等外部环境因素影响，请投资者密切关注公司定期报告和临时性公 告等信息。除此之外，本公司在"第四节 经营情况的讨论与分析"章节详细介绍公司所面临的 风险，请投资者予以关注。 十、 其他 □适用 √不适用 2 / 112 √适用 □不适用 本报告所涉及的未来计划等前瞻性陈述，不构成公司对投资者的实质承诺，投资者及相关人 士均应当对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并 ...

2018 年第一季度报告 郑州煤电股份有限公司 2018 年第一季度报告 公司代码：600121 公司简称：郑州煤电 3 / 18 1 / 18 | . | . | 2 | | --- | --- | --- | | | | | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | | 本报告期末 比上年度末 | | --- | --- | --- | --- | --- | | | | 调整后 | 调整前 | 增减(%) | | 总资产 | 11,457,537,998.22 | 11,260,616,977.42 | 11,260,616,977.42 | 1.75 | | 归属于上市公司 | 3,429,942,182.96 | 3,308,009,025.00 | 3,308,009,025.00 | 3.69 | | 股东的净资产 | | | | | | ...

Financial Performance - In 2017, the company achieved a net profit of ¥854,815,041.01, with a net profit attributable to shareholders of ¥627,445,968.66, resulting in a basic earnings per share of ¥0.6180[4]. - The company's operating revenue for 2017 was ¥5,712,399,998.44, a decrease of 39.83% compared to ¥9,494,106,702.68 in 2016[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥586,217,247.26, a significant increase of 226.74% from ¥179,415,391.78 in 2016[21]. - The company reported a negative cumulative distributable profit of ¥-131,914,721.23, leading to no cash dividends or stock distributions for 2017[4]. - The company reported a net cash flow from operating activities that decreased due to increased cash expenditures on taxes and salaries[61]. - The company achieved a net profit of 854,815,041.01 RMB for the fiscal year 2017, marking a significant turnaround from a net loss of 554,349,629.38 RMB in the previous year[101]. - The company’s operating profit for 2017 was CNY 1,001,000,819.01, a turnaround from an operating loss of CNY 478,815,903.79 in 2016[181]. - The company reported a total comprehensive income of CNY 843,371,735.93 for 2017, compared to a loss of CNY 568,599,629.38 in the previous year[182]. Assets and Liabilities - The company's total assets at the end of 2017 were ¥11,260,616,977.42, showing a slight increase of 0.12% from ¥11,246,766,505.68 in 2016[21]. - The company's net assets attributable to shareholders increased by 16.88% to ¥3,308,009,025.00 at the end of 2017[21]. - The company's asset-liability ratio stood at 60.88%, indicating a stable financial position despite industry challenges[43]. - The total liabilities decreased to ¥6,855,967,583.25 from ¥7,535,677,700.49, representing a reduction of approximately 9.05%[175]. - Total equity increased to ¥4,404,649,394.17 from ¥3,711,088,805.19, reflecting a growth of about 18.66%[175]. Revenue and Costs - The company's main business revenue from coal was approximately 3.981 billion RMB, with a gross margin of 48.95%, an increase of 9.80 percentage points compared to the previous year[49]. - The company reported a decrease in operating costs by 54.89% to approximately 3.715 billion RMB, contributing to improved profitability[45]. - The total operating revenue for 2017 was CNY 5,712,399,998.44, a decrease of 39.0% compared to CNY 9,494,106,702.68 in the previous year[181]. - Total operating costs for 2017 were CNY 4,722,312,835.79, down 52.7% from CNY 9,973,777,606.47 in 2016[181]. Coal Production and Market - The company’s main business includes coal production and sales, with a focus on high-quality industrial coal sold primarily to regions such as Henan and Hunan[33]. - In 2017, the company achieved a coal production of 9.215 million tons and a total revenue of 5.712 billion RMB, with a profit of 1.04 billion RMB, reflecting a significant operational turnaround[43]. - The coal consumption in China increased by 3.7% year-on-year, with total consumption reaching approximately 3.26 billion tons from January to October 2017[36]. - The coal production in China saw a year-on-year increase of 3.2%, with a total output of 3.445 billion tons in 2017[36]. - Coal imports for 2017 reached approximately 270.9 million tons, reflecting a year-on-year growth of 6.1%[36]. Risk Management - The company faces risks related to coal price volatility, safety production, and environmental policies, which could impact its operations[8]. - The company is focused on risk management, particularly in safety production and market volatility, implementing measures to mitigate these risks[88]. Corporate Governance - The company has committed to ensuring the independence of its business, personnel, institutions, assets, and finances from its controlling shareholder, Zheng Coal Group[95]. - The company has established a clear cash dividend policy in its articles of association, which is subject to adjustment based on actual circumstances[91]. - The company has undergone a reclassification of certain financial statement items, including the adjustment of "other income" by 1,000,000 RMB due to government subsidies[97]. - The company has a structured approach to assess the performance of its directors and senior management, ensuring accountability[140]. Employee Management - The total number of employees in the parent company and major subsidiaries is 17,749, with 11,167 in the parent company and 6,582 in major subsidiaries[143]. - The company has established a salary policy linking total wages to economic performance, ensuring that wage distribution is fair and based on contributions[144]. - A comprehensive employee training program is in place, combining internal and external training to enhance employee skills and support career growth[145]. Future Plans - The company plans to produce 8.2 million tons of raw coal and generate 220 million kWh of electricity in 2018, with an expected total revenue of 3.8 billion RMB[79]. - The company aims to expand its external trade business while ensuring the supply of materials for its production units[33]. - The company plans to accelerate the development of coal mining projects, including the completion of the coal mine industry upgrade project and the new mining project in the western wing of Baiping Coal, ensuring normal production replacement[81]. Related Party Transactions - The total amount of related party transactions reached RMB 95,050.91 million, with a significant portion being market-based transactions[108]. - The company purchased raw coal from its controlling shareholder at a market price of RMB 1,108.17 million, representing 100% of the transaction value[108]. - The company accepted technical and training services from its controlling shareholder, amounting to RMB 3,425.85 million, which is 91.42% of the market price[108]. Audit and Compliance - The audit report confirmed that the financial statements fairly reflect the financial position and operating results of Zhengzhou Coal and Electricity for the year ended December 31, 2017[171]. - The internal control audit report for 2017 received a standard unqualified opinion from the auditing firm[156].

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 2,913,044,405.72, a decrease of 40.79% compared to CNY 4,920,043,109.54 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 405,845,393.10, a significant turnaround from a net loss of CNY 192,144,699.55 in the previous year, representing an increase of 311.22%[17]. - Basic earnings per share for the first half of 2017 was CNY 0.40, compared to a loss of CNY 0.19 per share in the same period last year, marking an increase of 310.53%[18]. - The net cash flow from operating activities for the first half of 2017 was CNY 123,684,397.14, a decrease of 68.54% compared to CNY 393,196,463.76 in the same period last year[17]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 375,835,434.15, compared to a loss of CNY 191,625,226.05 in the same period last year, representing an increase of 296.13%[17]. - The company's operating revenue decreased by 40.79% to CNY 2,913,044,405.72 compared to the previous year[36]. - Operating profit improved to ¥595,962,097.24 from a loss of ¥193,333,486.48, indicating a significant turnaround[92]. - Net profit for the period was ¥529,094,064.35, compared to a net loss of ¥199,513,402.72 in the previous period[92]. - The company reported a total profit of ¥619,023,678.75, recovering from a loss of ¥195,338,201.75[92]. Assets and Liabilities - The total assets of the company as of June 30, 2017, were CNY 11,566,150,939.97, reflecting a 2.84% increase from CNY 11,246,766,505.68 at the end of the previous year[17]. - The company's net assets attributable to shareholders increased by 12.36% to CNY 3,180,001,894.98 from CNY 2,830,194,433.56 at the end of the previous year[17]. - Current liabilities totaled CNY 7,172,886,423.87, compared to CNY 7,106,868,420.67, reflecting an increase of about 0.93%[87]. - Non-current liabilities decreased to CNY 194,771,371.15 from CNY 428,809,279.82, a reduction of approximately 54.5%[87]. - Total liabilities decreased to CNY 7,367,657,795.02 from CNY 7,535,677,700.49, a decline of approximately 2.23%[87]. Cash Flow - The company's cash flow from financing activities improved by 56.28%, reducing debt repayment[36]. - The total cash inflow from financing activities was CNY 2,675,000,000.00, a decrease of 13.9% from CNY 3,110,000,000.00 in the same period last year[100]. - The net cash flow from financing activities was negative at CNY -301,519,193.17, compared to CNY -689,728,178.74 in the previous year[100]. - The company experienced a net increase in cash and cash equivalents of CNY 42,398,451.45, compared to a decrease of CNY -240,187,381.76 in the previous year[103]. Industry and Market Conditions - The average price of thermal coal increased by 29% at ports and 49% at production sites compared to the average price for the entire year of 2016[27]. - The coal industry saw a total revenue of 1.3353 trillion yuan in the first half of 2017, a year-on-year increase of 33.9%, with total profits reaching 147.5 billion yuan, up from 9.8 billion yuan in the same period of 2016[27]. - The coal market is stabilizing due to national capacity reduction policies, leading to a rational return of coal prices and improved operational environment[32]. Acquisitions and Investments - The company completed the acquisition of the railway transportation assets from its controlling shareholder, Zhengzhou Coal Group, on June 30, 2017, which led to adjustments in the previous year's financial data[19]. - The company completed the acquisition of part of the assets from Zhengmei Group's railway transportation department, with total book assets amounting to 589 million yuan as of June 30, 2017[28]. - The company sold 1 million shares of Fangzheng Securities, generating an investment income of CNY 6,525,538.96[39]. Risks and Warnings - The company has issued a risk warning regarding the potential delisting of its shares due to consecutive years of negative net profit[5]. - The company has significant risks related to coal price volatility and safety production accidents, which could impact operations[44]. Related Party Transactions - The company reported a total of 34,872.02 million RMB in related party transactions, with an average market price deviation of 12.42%[59]. - The company engaged in various related party transactions, including labor services and procurement, with transaction amounts such as 7,316.27 million RMB for purchasing electricity[58]. - The pricing for related party transactions primarily follows market price principles, with adjustments made based on cost-plus pricing when market prices are unavailable[58]. Corporate Governance - The company continues to maintain good integrity status, with no significant litigation or arbitration matters during the reporting period[55]. - The company has not disclosed any new employee stock ownership plans or other incentive measures during this reporting period[56]. - There were several changes in the board of directors and supervisory board, with new members elected on April 14, 2017[79]. Accounting Policies - The company has adjusted its accounting policy regarding government subsidies, reclassifying 1 million RMB from "non-operating income" to "other income"[69]. - The company recognizes goodwill for the excess of the acquisition cost over the fair value of identifiable net assets acquired, measured at cost less accumulated impairment[125]. - The company confirms deferred tax assets and liabilities based on the temporary differences between the book value of assets and liabilities and their tax bases, using the applicable tax rate expected to be recovered or settled[190].