Financial Performance - Net profit attributable to shareholders of the listed company was CNY 409,014,466.66, down 43.08% year-on-year[17] - Operating revenue for the first nine months was CNY 3,525,617,699.18, representing a decline of 25.17% compared to the same period last year[17] - Basic earnings per share were CNY 0.3408, down 43.10% compared to the previous year[19] - The weighted average return on net assets was 4.5275%, a decrease of 4.29 percentage points from the previous year[19] - Net profit for the period was RMB 411.86 million, a decrease of 42.61% compared to the same period last year, primarily due to reduced production and sales influenced by the pandemic[28] - Total operating revenue for Q3 2020 was approximately ¥1.14 billion, a decrease of 18.3% compared to ¥1.39 billion in Q3 2019[52] - Net profit for Q3 2020 was approximately ¥19.99 million, a significant decline of 91.6% compared to ¥225.71 million in Q3 2019[55] - Total profit for Q3 2020 was approximately ¥39.64 million, a decrease of 87.3% from ¥311.24 million in Q3 2019[55] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 1,115,643,043.04, a decrease of 11.52% year-on-year[17] - Cash flow from operating activities for the first three quarters of 2020 was CNY 4,844,072,040.13, down 25.5% from CNY 6,506,479,881.55 in the same period of 2019[66] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 1,073,122,752.68, a decrease of 12.4% compared to CNY 1,225,470,963.60 in the same period of 2019[72] - Total cash inflow from operating activities was CNY 4,906,227,410.30, down from CNY 6,150,588,610.65 in the previous year, reflecting a decline of 20.2%[72] - The cash outflow from operating activities totaled CNY 3,833,104,657.62, compared to CNY 4,925,117,647.05 in 2019, indicating a reduction of 22.1%[72] Assets and Liabilities - Total assets at the end of the reporting period were CNY 14,917,576,410.45, a decrease of 3.28% compared to the end of the previous year[17] - Total liabilities amounted to CNY 5,882,218,913.09, a decrease from CNY 6,602,991,100.85 in the previous period, reflecting a reduction of approximately 10.9%[49] - Total equity increased to CNY 9,035,357,497.36 from CNY 8,819,769,245.65, representing a growth of about 2.4%[49] - The company's cash and cash equivalents stood at RMB 5.29 billion, slightly down from RMB 5.31 billion at the end of 2019[37] - The company's short-term borrowings at the end of the period were RMB 1.32 billion, an increase of 32.91% compared to the beginning of the period, reflecting a shift in borrowing structure[26] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,577[21] - The largest shareholder, Anhui Wanbei Coal Power Group Co., Ltd., held 659,538,888 shares, accounting for 54.96% of the total shares[21] Research and Development - Research and development expenses for the period were RMB 82.75 million, a decrease of 43.97% compared to the same period last year, mainly due to project delays[28] - Research and development expenses for Q3 2020 were approximately ¥49.17 million, a decrease of 59.5% from ¥121.51 million in Q3 2019[52] Other Income and Expenses - Other income for the period was RMB 85.96 million, an increase of 275.13% compared to the same period last year, primarily due to VAT refunds[28] - The company’s tax expenses for the period were RMB 115.34 million, a decrease of 58.59% compared to the same period last year, due to lower sales and income[28] - Tax expenses for Q3 2020 were approximately ¥19.65 million, a decrease of 77% compared to ¥85.53 million in Q3 2019[55] Investment Activities - Investment activities generated a net cash flow of -RMB 299.83 million, an improvement from -RMB 907.19 million in the same period last year, mainly due to previous acquisitions[29] - The company reported a net cash outflow from investing activities of CNY 299,828,250.21 in Q3 2020, compared to a net outflow of CNY 907,191,257.02 in Q3 2019[70] Company Developments - The company has not disclosed any new product or technology developments, market expansion, or acquisition strategies in this report[18] - The company plans to establish a financing leasing company in Tianjin with an investment of RMB 500 million, pending regulatory approvals[30] - The company is closely monitoring the ongoing impact of the pandemic on its financial condition and operational results[33] - The company is currently involved in litigation regarding a contract dispute, with the latest ruling dismissing the plaintiff's claims[33]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥2.39 billion, a decrease of 28.05% compared to the same period last year[19]. - The net profit attributable to shareholders for the first half of 2020 was approximately ¥389.76 million, down 21.11% year-on-year[19]. - Basic earnings per share for the first half of 2020 were ¥0.3248, down 21.11% from ¥0.4117 in the same period last year[19]. - The total profit for the first half of 2020 was ¥487,555,551.13, a decrease of 28.8% from ¥685,019,600.88 in the previous year[118]. - The company's net profit for the period was not explicitly stated but indicated a positive trend in profitability based on the overall financial performance[149]. Cash Flow and Liquidity - The net cash flow from operating activities was approximately ¥963.51 million, a slight decrease of 0.90% compared to the previous year[19]. - The company's cash and cash equivalents increased to RMB 5,689,403,384.93 as of June 30, 2020, compared to RMB 5,310,438,643.98 at the end of 2019, reflecting a growth of approximately 7.1%[101]. - Cash inflow from financing activities was CNY 921,579,559.47, while cash outflow totaled CNY 1,285,698,224.59, leading to a net cash flow from financing activities of CNY -364,118,665.12[128]. - The ending balance of cash and cash equivalents increased to CNY 5,611,865,745.99 from CNY 4,699,555,843.96 at the end of the previous year[128]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥15.21 billion, a decrease of 1.36% from the end of the previous year[19]. - The company's total liabilities decreased to CNY 6,216,513,488.85 from CNY 6,530,177,977.78 year-over-year[113]. - Long-term borrowings decreased by 29.03% compared to the same period last year, mainly due to a reduction in interest-bearing liabilities[38]. - The company's total current liabilities decreased to RMB 4,405,284,978.85 as of June 30, 2020, from RMB 4,779,950,774.29 at the end of 2019, showing a decline of about 7.8%[104]. Investments and Capital Expenditures - The company plans to establish a financing leasing company with an investment of 500 million yuan, pending regulatory approval[29]. - The company increased its registered capital in the Anhui North Coal Power Financial Company by 200 million yuan, also subject to regulatory approval[29]. - Research and development expenses rose by 28.22% to 33.57 million yuan, reflecting increased investment in R&D projects[35]. - The company plans to focus on market expansion and new product development in the upcoming quarters[113]. Market and Operational Risks - The company faced risks related to coal price fluctuations due to macroeconomic conditions and market supply and demand changes[7]. - The company faces risks from market supply and demand fluctuations, particularly in coal prices, which significantly impact performance[48]. Environmental and Regulatory Compliance - The company has completed the environmental impact assessment for construction projects in accordance with the Environmental Impact Assessment Law of the People's Republic of China[83]. - All coal mines have established wastewater treatment plants that meet the discharge standards, with treated wastewater primarily reused for greening and dust suppression[83]. - The company has implemented a third-party monitoring scheme for wastewater and air quality, with monthly and quarterly assessments respectively[83]. Shareholder and Corporate Governance - The total number of common stock shareholders reached 44,206 by the end of the reporting period[90]. - Anhui Wanbei Coal Electricity Group Co., Ltd. holds 54.96% of the total shares, amounting to 659,538,889 shares[90]. - The company held its first extraordinary general meeting of shareholders on February 12, 2020, and approved the election of the seventh board of directors and supervisors[50]. Legal Matters - The company faced a lawsuit from Anhui Times Material Co., Ltd. with a claim amount of 41.9 million yuan, which was initially ruled against the company but later appealed and is currently under review[59]. - The company is involved in a lawsuit with Anhui Hengyuan Coal Power Co., Ltd. for a claim of approximately 20.51 million yuan, with the case still under trial[59]. Financial Reporting and Accounting Policies - The consolidated financial statements are prepared based on control, including the company and all subsidiaries, reflecting the overall financial position, operating results, and cash flows of the group[169]. - The company applies the effective interest method for calculating interest on financial assets measured at amortized cost[181]. - The company recognizes impairment losses for available-for-sale financial assets when there is a significant decline in fair value[196].

2020 年第一季度报告 公司代码：600971 公司简称：恒源煤电 安徽恒源煤电股份有限公司 2020 年第一季度报告 1 / 21 2020 年第一季度报告 重要提示 . 一、 二、 公司基本情况 . 11Í 重要事项 . 四、 附录 . 目录 2 / 21 2020 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人袁兆杰、主管会计工作负责人朱四一及会计机构负责人（会计主管人员）张 磊 保证季度报告中财务报表的真实、准确、完整。 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 | --- | --- | --- | --- | --- | |-------------------------------------------------|-------------------|----------------------|----------- ...

Financial Performance - In 2019, the company achieved operating revenue of CNY 6,001,973,173.87, an increase of 1.62% compared to CNY 5,906,310,774.77 in 2018[24] - The net profit attributable to shareholders was CNY 1,128,121,725.27, representing a decrease of 7.49% from CNY 1,219,500,074.02 in the previous year[24] - The net cash flow from operating activities was CNY 2,249,378,469.27, down by 5.40% from CNY 2,377,841,047.87 in 2018[24] - The company's total assets at the end of 2019 were CNY 15,422,760,346.50, reflecting a 5.93% increase from CNY 14,559,862,528.59 in 2018[24] - The net assets attributable to shareholders increased by 10.11% to CNY 8,718,343,015.73 from CNY 7,917,623,592.43 in 2018[24] - Basic earnings per share for 2019 were CNY 0.9401, a decrease of 7.49% compared to CNY 1.0162 in 2018[25] - The company reported a decrease in the weighted average return on net assets to 13.69% from 16.33% in 2018, a decline of 2.64 percentage points[25] - The company achieved a raw coal production of 10.30 million tons, a year-on-year decrease of 2.93%[45] - The main business income from coal was RMB 5.55 billion, with a slight increase of 0.80% year-on-year[49] - The gross profit margin for coal products was 45.52%, a decrease of 0.16 percentage points year-on-year[50] Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 3.50 per 10 shares, totaling CNY 420,001,709.40[6] - The company achieved a net profit of 1.126 billion RMB in 2019, with a distributable profit of approximately 4.241 billion RMB by the end of 2019[87] - The company aims to maintain a cash dividend of 3.50 RMB per 10 shares, totaling approximately 420 million RMB to be distributed to shareholders[87] - The cash dividend amount for 2019 was CNY 420,001,709.40, with a distribution of CNY 3.5 per 10 shares[89] - The company reported a net profit of CNY 1,220,760,055.73 in 2018, with a cash dividend amount of CNY 410,001,668.70, and a distribution of CNY 4.1 per 10 shares[89] Market and Operational Strategy - The company plans to expand its market presence through strategic acquisitions, including power equity and deep exploration rights[38] - The company is committed to expanding its market presence and improving operational efficiency through diversified revenue streams[81] - The company is focusing on high-efficiency development and plans to implement automation and mechanization in coal mining operations[81] - The company is actively pursuing digital transformation and enhancing its operational management systems[81] - The company is exploring new opportunities for growth and development in the coal energy sector[167] Risks and Challenges - The company faced risks from market fluctuations in coal prices and potential impacts from the COVID-19 pandemic on production and sales[8] - The company faces risks related to safety production, price fluctuations, industry policies, and macroeconomic conditions[85] Environmental Compliance and Management - The company has implemented pollution control facilities using limestone-gypsum wet desulfurization technology and SCR+SNCR low nitrogen combustion modification technology[127] - The company has established emergency response plans for environmental incidents, with records filed with local environmental protection agencies[131] - The company has conducted quarterly manual monitoring of wastewater and emissions, ensuring compliance with environmental standards[127] - The company has six wastewater discharge outlets across its coal mines, with treated water meeting the standards for pH, chemical oxygen demand, and suspended solids[132] - The company has not received notifications from local environmental authorities regarding the need for pollution discharge permits for its coal mines[132] Research and Development - The company's total research and development expenses for 2019 were 257,672,401.51 yuan, accounting for 4.29% of operating revenue[58] - The company reported a 30.79% decrease in R&D expenses compared to the previous year, mainly due to the conversion of previous projects into results[58] - The company has established strong ties with academic institutions, enhancing its research and development capabilities[167] Corporate Governance and Management - The company has a long-term commitment to avoid competition with its controlling shareholder, the Wanbei Coal Power Group, ensuring no new mining rights will be acquired unless under specific conditions[92] - The company has a commitment to ensure the safety of financial operations and respect for the independence of its decision-making processes[94] - The company has been audited by Lixin Accounting Firm for 17 years, with an audit fee of CNY 210,000 for the current year[96] - The management team includes experienced professionals with significant roles in the company, such as the General Manager and Vice General Manager[167] - The company has a strong emphasis on legal compliance and governance, with a dedicated legal advisor on the board[167] Employee Management - The company employed a total of 13,819 staff, including 11,070 production personnel, 402 sales personnel, 966 technical personnel, 103 financial personnel, and 1,278 administrative personnel[175] - The company has implemented a performance-based salary system, linking employee remuneration to their job responsibilities and performance assessments[176] - A training system has been established to enhance employee skills and capabilities, combining internal and external training methods[177] Audit and Financial Reporting - The audit report concluded that the financial statements fairly reflect the company's financial position as of December 31, 2019[196] - The audit was conducted in accordance with Chinese CPA auditing standards, ensuring independence and ethical compliance[193] - The management is responsible for the preparation of the financial statements and ensuring their accuracy[199]

2019 年第三季度报告 公司代码：600971 公司简称：恒源煤电 安徽恒源煤电股份有限公司 2019 年第三季度报告 1 / 23 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 23 2019 年第三季度报告 单位：元 币种：人民币 3 / 23 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人袁兆杰、主管会计工作负责人朱四一及会计机构负责人（会计主管人员）张磊保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-----------------------------|---------------------------|----------------------------------------------- ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 3,318,243,412.47, representing a 5.42% increase compared to CNY 3,147,745,596.27 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 494,078,158.14, up 9.15% from CNY 452,661,558.46 in the previous year[19]. - The net cash flow from operating activities increased by 40.24%, reaching CNY 972,263,789.86 compared to CNY 693,262,645.31 in the same period last year[19]. - Basic earnings per share for the reporting period were CNY 0.4117, an increase of 9.15% compared to CNY 0.3772 in the same period last year[19]. - The company's main business revenue from coal reached 3.08 billion RMB, an increase of 4.89% year-on-year, contributing to a total operating revenue of 3.32 billion RMB, which is a 5.42% increase compared to the previous year[35]. - The company reported a total profit for the first half of 2019 of CNY 685.02 million, up from CNY 630.52 million in the same period last year, indicating a growth of about 8.6%[136]. - The basic earnings per share for the first half of 2019 was CNY 0.4117, compared to CNY 0.3772 in the previous year, marking an increase of approximately 9.0%[134]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 14,867,054,267.86, reflecting a 2.11% increase from CNY 14,560,217,119.97 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 7,943,901,695.97, showing a slight increase of 0.33% from CNY 7,917,978,183.81 at the end of the previous year[19]. - Accounts receivable increased by 17.41% to CNY 195,670,374.09, compared to CNY 166,660,440.01 in the previous period[39]. - Short-term borrowings increased by 65.75% to CNY 1,384,000,000.00, reflecting changes in the company's debt structure[39]. - Long-term borrowings increased by 73.02% to CNY 1,362,500,000.00, due to refinancing of maturing long-term debt[39]. - The total liabilities amounted to ¥6,760,827,049.94, compared to ¥6,454,471,013.56 in the previous year[128]. Cash Flow - The company reported a net cash flow from investment activities of -802.03 million RMB, a decrease of 682.82 million RMB compared to the previous period[64]. - The company raised CNY 2,009,000,000.00 through borrowings, compared to CNY 967,500,000.00 in the same period last year[148]. - The total cash outflow from financing activities was CNY 2,436,290,198.10, an increase from CNY 1,409,641,424.53 in the previous year[148]. - The net increase in cash and cash equivalents was CNY -267,022,295.31, contrasting with an increase of CNY 145,015,476.94 in the same period of 2018[149]. Investments and Acquisitions - The company completed the acquisition of 100% equity in Chuangyuan Power and 6% equity in Xinyuan Thermal Power, with total cash outflow for these acquisitions amounting to approximately 1.33 billion RMB[28]. - The company acquired 100% equity of Suzhou Chuangyuan Power Generation Co., Ltd., which was under the same control, and adjusted relevant data for 2018 accordingly[20]. Operational Performance - In the first half of 2019, the company's raw coal production was 5.22 million tons, a decrease of 3.52% year-on-year, while the sales volume of commercial coal increased by 6.03% to 4.77 million tons[35]. - The company maintained a stable production and economic operation, with the coal market supply and demand generally balanced and prices within a reasonable range[35]. - The company's operating costs increased by 6.2% year-on-year, primarily due to the increase in commercial coal production[36]. Risk Management - The company is aware of risks related to coal price fluctuations and safety production accidents, and will take measures to enhance its risk resistance capabilities[7]. - The company faces risks including safety production risks, price volatility risks, industry policy risks, and macroeconomic risks[48]. Corporate Governance - There were no non-operating fund occupation situations by controlling shareholders or related parties during the reporting period[7]. - The company did not distribute dividends or increase capital reserves, with a distribution of 0 per 10 shares[54]. - The company has committed to avoiding competition with its controlling shareholder, ensuring no new mining rights will be acquired unless under specific conditions[57]. Environmental Compliance - The pollution control facilities of Hengli Electric, Xinyuan Thermal Power, and Chuangyuan Power are operating normally, utilizing advanced technologies such as flue gas desulfurization and denitrification processes[85]. - All three companies have completed environmental impact assessments and received necessary approvals from local environmental protection agencies for their construction projects[86]. - The companies have established emergency response plans for environmental incidents, with all plans filed with local environmental authorities[89]. Social Responsibility - The company has made progress in poverty alleviation efforts, with 19 individuals lifted out of poverty this year[71]. - The company invested a total of 5 million in poverty alleviation projects, helping 19 registered impoverished individuals to escape poverty[75]. - The company organized face-to-face poverty alleviation discussions, engaging over 100 villagers to promote participation in poverty alleviation efforts[76].

Financial Performance - Operating revenue for the first quarter reached CNY 1,623,602,556.35, representing a 5.9% increase year-on-year[10] - Net profit attributable to shareholders was CNY 236,549,822.81, up 15.98% from the previous year[10] - Basic earnings per share rose by 15.93% to CNY 0.2365[10] - Total operating revenue for Q1 2019 was CNY 1,623,602,556.35, an increase from CNY 1,533,182,546.21 in Q1 2018, representing a growth of approximately 5.9%[49] - Net profit for Q1 2019 reached CNY 235,489,657.21, compared to CNY 203,305,452.21 in Q1 2018, reflecting a growth of approximately 15.8%[52] - The total profit for Q1 2019 was CNY 326,483,308.81, compared to CNY 289,580,500.00 in Q1 2018, representing an increase of approximately 12.7%[52] - The company's operating revenue for Q1 2019 was CNY 1,602,033,099.04, an increase from CNY 1,511,439,638.06 in Q1 2018, representing a growth of approximately 6.0%[54] - The net profit for Q1 2019 reached CNY 235,091,471.68, compared to CNY 206,066,515.41 in Q1 2018, indicating an increase of about 14.1%[56] Cash Flow - Net cash flow from operating activities increased by 26.34% to CNY 529,365,600.88 compared to the same period last year[10] - The cash flow from operating activities for Q1 2019 was CNY 529,365,600.88, compared to CNY 419,008,334.21 in Q1 2018, showing an increase of approximately 26.4%[60] - The company reported a total cash inflow from operating activities of CNY 2,349,326,626.97 in Q1 2019, up from CNY 2,059,825,924.94 in Q1 2018, which is an increase of about 14.0%[60] - The company reported a net cash outflow from investing activities of CNY 890,133,444.82 in Q1 2019, compared to CNY 59,084,366.70 in Q1 2018, indicating a significant increase in investment activities[60] - The total cash inflow from financing activities in Q1 2019 was CNY 1,025,000,000.00, up from CNY 550,000,000.00 in Q1 2018, representing an increase of approximately 86.4%[60] Assets and Liabilities - Total assets increased by 4.12% to CNY 15,160,550,003.56 compared to the end of the previous year[10] - Total liabilities increased to CNY 6,985,261,949.80 from CNY 6,518,367,538.30, reflecting an increase of approximately 7.2%[40] - The company's equity attributable to shareholders increased to CNY 8,068,953,122.42 from CNY 7,917,978,183.81, showing a growth of approximately 1.9%[40] - Total current assets as of March 31, 2019, amounted to CNY 7,507,328,876.22, a slight increase from CNY 7,450,166,771.40 as of December 31, 2018[34] - Total non-current assets reached CNY 7,653,221,127.34, up from CNY 7,110,050,348.57, representing an increase of approximately 7.6%[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 44,771[16] - The largest shareholder, Anhui Wanbei Coal Power Group Co., Ltd., held 54.96% of the shares[16] Investment and Expenses - Investment income increased by 237.56% compared to the same period last year, due to increased profits from joint ventures[24] - Research and development expenses decreased by 93.05% compared to the same period last year, due to late initiation of R&D projects[24] - Research and development expenses for Q1 2019 were CNY 1,150,000.00, significantly lower than CNY 16,537,516.83 in Q1 2018, reflecting a decrease of approximately 93%[49] Future Outlook - Future outlook includes potential market expansion and new product development strategies, although specific figures were not disclosed in the report[36]

Financial Performance - The company's operating revenue for 2018 was RMB 5,900,332,754.69, a decrease of 9.73% compared to RMB 6,536,179,022.63 in 2017[24] - The net profit attributable to shareholders of the listed company was RMB 1,220,760,055.73, an increase of 10.50% from RMB 1,104,749,084.82 in the previous year[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,022,358,106.59, a decrease of 6.03% compared to RMB 1,087,976,622.70 in 2017[24] - The net cash flow from operating activities for 2018 was CNY 2,376,968,062.68, a decrease of 13.72% compared to CNY 2,754,881,707.48 in 2017[27] - The net assets attributable to shareholders of the listed company increased by 13.21% to CNY 7,828,645,142.98 from CNY 6,914,879,503.70 in 2017[27] - The total assets as of the end of 2018 were CNY 14,451,026,421.73, reflecting a 1.44% increase from CNY 14,245,715,683.41 in 2017[27] - Basic earnings per share for 2018 were CNY 1.2207, up 10.50% from CNY 1.1047 in 2017[27] - The weighted average return on equity for 2018 was 16.63%, down from 17.56% in 2017, a decrease of 0.93%[27] - The company reported quarterly revenues of CNY 1,533,182,546.21, CNY 1,614,563,050.06, CNY 1,515,370,280.84, and CNY 1,237,216,877.58 for Q1, Q2, Q3, and Q4 respectively in 2018[30] - The net profit attributable to shareholders for Q4 2018 was CNY 532,000,442.67, with a total of CNY 1,220,730,000.00 for the year[30] Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 4.10 per 10 shares, totaling RMB 410,001,668.70, and to increase capital reserves by 2 shares for every 10 shares held[6] - The distributable profit available for shareholders at the end of 2018 was approximately CNY 3.61 billion[95] - The company's legal surplus reserve was CNY 513 million, which is 51.31% of the registered capital, exceeding the 50% threshold[95] - The company did not propose a cash profit distribution plan for the reporting period, as the profit available for distribution was positive[97] - The profit distribution policy mandates that the company distributes at least 30% of the average distributable profit over three consecutive years in cash, provided that the undistributed profits are positive[132] Operational Challenges and Risks - The company faces risks from fluctuations in coal prices due to macroeconomic slowdown and market supply-demand changes, which could significantly impact performance[10] - The company faces production and sales volume reductions due to the closure of Liuqiao No. 1 Mine and Wolong Lake Coal Mine[56] - The company faces risks including safety production risks, price volatility risks, industry policy risks, and macroeconomic risks[91] Environmental and Safety Practices - The company emphasizes the importance of safety in coal mining operations, highlighting risks related to water, fire, gas, and other hazards[10] - The company achieved a total sulfur emission of 226.6 tons and nitrogen oxide emission of 272 tons in 2018, adhering to the pollution discharge standards[136] - The company operates pollution prevention facilities using advanced technologies such as calcium injection desulfurization and SNCR denitrification, ensuring normal operation[140] - The company has implemented measures for solid waste management, including proper storage and disposal of hazardous waste, ensuring compliance with environmental standards[149] - In 2018, the company faced several environmental penalties, including a fine of 500,000 yuan for failing to use desulfurization facilities properly[150] - The company has committed to improving its environmental practices following penalties, including enhancing dust control measures and upgrading wastewater treatment facilities[153] Research and Development - Research and development expenses surged by 187.54% to approximately 372.32 million yuan[49] - Total R&D investment for the period reached ¥372,318,783.03, accounting for 6.31% of operating revenue, with a year-on-year increase of 187.54%[62] - The company is focusing on the development of clean and efficient coal utilization technologies, with breakthroughs expected in modern coal chemical technology and ultra-low emission standards for coal-fired power plants by 2020[84] - The company plans to invest in research and development to innovate and stay competitive in the market[173] Corporate Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, indicating the accuracy of its financial statements[5] - The company has established a governance structure that is clear in responsibilities, effective in checks and balances, and coordinated in operations, complying with relevant regulations[200] - The company has adhered to the regulations regarding insider information management to prevent leaks and ensure fair information disclosure[200] - The company has not reported any major litigation or arbitration matters that are currently unresolved[108] Community Engagement and Social Responsibility - The company donated CNY 5,000,000 to the Huai Bei City Poverty Alleviation Public Welfare Foundation to support poverty alleviation efforts[127] - The collective income of the company's supported village increased to CNY 185,000 in 2018, a 57% increase from CNY 115,000 in 2017[122] - The number of impoverished households decreased from 21 households (56 individuals) in 2017 to 16 households (46 individuals) by the end of 2018, with 5 households (10 individuals) successfully lifted out of poverty[122] - The per capita income of the supported village rose from CNY 7,400 in 2017 to CNY 8,750 in 2018, reflecting an increase of CNY 1,350 or approximately 18.2%[122] - The company plans to enhance its poverty alleviation efforts by improving infrastructure and developing industry projects in the supported village[128] - The company has established a leadership group for poverty alleviation to coordinate and address specific issues related to the initiative[128] Employee Management and Workforce - The total number of employees in the parent company is 313, while the total number of employees in major subsidiaries is 13,157, resulting in a combined total of 13,470 employees[193] - The company has a total of 10,848 production personnel, 385 sales personnel, 941 technical personnel, 92 financial personnel, and 1,204 administrative personnel[194] - The remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 5.8726 million yuan (including tax), with independent directors receiving an allowance of 80,000 yuan each[187] - The company has implemented a post and performance-based salary system, ensuring that employee remuneration is linked to job responsibilities and performance assessments[195] - The company has established a tiered training system to enhance employee skills and business capabilities, combining internal and external training methods[198] Future Outlook and Strategic Initiatives - Future outlook indicates a strategic focus on market expansion and potential mergers and acquisitions to enhance growth opportunities[173] - The management has set performance guidance for the upcoming fiscal year, projecting a growth rate of approximately 10% in revenue[173] - The company is exploring new strategies to enhance operational efficiency and reduce costs[173] - There is a commitment to sustainability and environmental responsibility in future projects and expansions[173]

安徽恒源煤电股份有限公司 2018 年第三季度报告 2018 年第三季度报告 公司代码：600971 公司简称：恒源煤电 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人袁兆杰、主管会计工作负责人朱四一及会计机构负责人（会计主管人员）张 磊 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | --- | | | | | | 减(%) | | ...

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，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 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 2018 年半年度报告 公司代码：600971 公司简称：恒源煤电 安徽恒源煤电股份有限公司 2018 年半年度报告 1 / 107 2018 年半年度报告 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本年度报告中有关未来计划等前瞻性陈述，不构成本公司对投资者的实质性承诺，请投资者注意 投资风险。 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 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 受宏观经济增速、市场供需变化等因素影响，公司主要产品煤炭价格存在波动风险，对公司业绩 影响较大；煤炭开采为地下作业，存在着发生水、火、瓦斯、顶板、煤尘等多种灾害的可能性。 由于煤炭行业的特点，矿井生产存在一定的安全生产事故风险。同时国家行业政策的变化和环保 标准的调整等，都可能给公司生产经营带来一定的影响。公司将时 ...