Financial Performance - The company achieved a net profit attributable to shareholders of 14.883 billion RMB in 2020, with a proposed cash dividend of 8 RMB per 10 shares, totaling 7.756 billion RMB, which accounts for 52.12% of the net profit[3]. - The company's operating revenue for 2020 reached RMB 9,486,027.23 million, representing a 28.66% increase compared to 2019[14]. - Net profit attributable to shareholders was RMB 1,488,264.17 million, up 27.85% from the previous year[14]. - The net profit after deducting non-recurring gains and losses decreased by 18.22% to RMB 911,668.50 million[14]. - The company's total assets increased by 16.33% to RMB 14,891,234.58 million at the end of 2020[14]. - Basic earnings per share rose to RMB 1.54, reflecting a 28.34% increase year-on-year[15]. - The weighted average return on equity improved to 23.18%, an increase of 1.91 percentage points from 2019[15]. - The cash flow from operating activities for 2020 was RMB 2,113,992.72 million, a 9.08% increase compared to 2019[14]. - The total profit reached 24.01 billion RMB, up by 4.62 billion RMB, or 23.83% year-on-year[44]. - Net profit attributable to shareholders was 14.88 billion RMB, an increase of 3.24 billion RMB, or 27.85% year-on-year[44]. Coal Production and Sales - In 2020, the company achieved a coal production of 125 million tons, representing a year-on-year increase of 9.06%[29]. - The company's coal sales reached 241 million tons, a year-on-year growth of 35.36%[29]. - The coal production in the Shaanxi North region increased by 17.33% year-on-year, contributing significantly to overall production growth[40]. - The average selling price of coal was 363.45 yuan per ton, a decrease of 20.03 yuan per ton, or 5.22% year-on-year[42]. - The coal business generated revenue of 92.04 billion RMB, accounting for 97.02% of total revenue, with a year-on-year increase of 21.42 billion RMB[47]. Research and Development - The company completed 85 research projects in 2020 and was awarded 8 national and provincial-level awards, along with 151 new patents granted[26]. - Research and development expenses increased by 75.53% to 95.98 million RMB[45]. - The company aims to optimize its industrial investment map in line with national carbon peak and carbon neutrality goals, focusing on new energy and new materials[23]. - The company is committed to technological innovation and research, establishing a robust management system for scientific research and technology[80]. Safety and Environmental Management - The company established a safety production information sharing platform, achieving a coal mine fatality rate of 0 in 2020, marking the best safety record in its history[32]. - The company has committed to enhancing its environmental management system to prevent pollution and ecological damage[119]. - The company has established wastewater treatment facilities with a total capacity of 96,000 m³/day across various mining sites, ensuring compliance with environmental standards[123]. - The company successfully avoided any major environmental incidents in 2020 and did not face penalties from environmental regulatory authorities[119]. Corporate Governance and Compliance - The company has ensured compliance with regulations regarding related party transactions, maintaining fairness and transparency in dealings with Shaanxi Coal[88]. - The company has not reported any significant accounting errors during the reporting period, and thus no adjustments were necessary[95]. - The company has maintained independence from its controlling shareholder in business, personnel, assets, organization, and finance[167]. - The company has a governance structure that includes a board of directors, supervisory board, and management team, ensuring effective decision-making and oversight[161]. Future Outlook and Strategic Initiatives - The company plans to maintain a stable coal supply and pricing strategy in 2021, with expectations of continued growth in coal production from major mining regions[77]. - The company is actively pursuing new industry layouts and nurturing new growth drivers, including investments in renewable energy and new materials[80]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[149]. - The company plans to invest a total of 15.03 billion yuan in capital expenditures for 2021, with significant allocations for projects such as the Xiaobaodang Mine and Shenwei Pipeline[83]. Social Responsibility and Community Engagement - The company invested over 21.62 million yuan in poverty alleviation efforts, helping 10,008 impoverished individuals to achieve prosperity[37]. - The company received the "National Advanced Collective in Poverty Alleviation" honor from the State Council, recognizing its contributions to poverty alleviation[117]. - The company implemented eight industrial poverty alleviation projects to mitigate the impact of COVID-19 on assisted villages[114]. Financial Health and Stability - The company's total current assets as of December 31, 2020, amounted to ¥55,016,264,414.40, an increase from ¥35,662,370,501.59 in 2019, representing a growth of approximately 54.3%[194]. - Cash and cash equivalents reached ¥23,930,664,710.21, up from ¥19,473,332,758.83 in the previous year, indicating a growth of about 22.5%[194]. - The company's accounts receivable increased to ¥6,918,998,600.48 from ¥5,985,213,214.90, reflecting a rise of approximately 15.6%[194]. - The company's total liabilities increased to ¥39,485,688,179.40 in 2020, up from ¥37,300,590,740.74 in 2019, reflecting a growth of 5.9%[199].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 3,873,344.74 million, representing an increase of 18.87% compared to the same period last year[13]. - The net profit attributable to shareholders of the listed company was CNY 498,590.65 million, a decrease of 15.08% year-on-year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 437,392.06 million, down 24.32% from the previous year[13]. - The net cash flow from operating activities was CNY 448,111.88 million, a significant decline of 59.39% compared to the same period last year[13]. - Basic earnings per share decreased by 15.00% to CNY 0.51 compared to the same period last year[14]. - The weighted average return on equity decreased by 1.66 percentage points to 9.34%[14]. - The company achieved coal sales volume of 105.8 million tons in the first half of 2020, an increase of 28.5 million tons or 36.88% year-on-year[22]. - The company's coal production cost decreased by 11.51 yuan per ton compared to the previous year, reflecting effective cost reduction measures[24]. - Total profit was 8.25 billion RMB, a decrease of 1.52 billion RMB, or 15.57% year-on-year[30]. - Net profit attributable to shareholders was 4.99 billion RMB, down by 885 million RMB, or 15.08% year-on-year[31]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 13,479,627.86 million, an increase of 6.40% from the end of the previous year[13]. - The net assets attributable to shareholders of the listed company were CNY 6,044,821.13 million, reflecting a growth of 3.77% compared to the end of the previous year[13]. - Total current assets reached CNY 41.696 billion, up from CNY 34.812 billion, marking a significant increase[110]. - Total assets amounted to CNY 134.796 billion, compared to CNY 126.684 billion at the end of the previous year[111]. - Total liabilities increased to ¥42,928,962,652.12 from ¥37,300,590,740.74, representing a rise of about 15.5%[114]. - The company's equity attributable to shareholders reached ¥31,937,888,326.22, a slight decrease from ¥32,193,582,335.89, showing a decline of approximately 0.8%[114]. Operational Challenges and Risks - The company faces uncertainties in achieving its operational targets due to macroeconomic fluctuations and changes in coal industry policies[5]. - The report includes a risk statement regarding forward-looking statements based on subjective assumptions about future policies and economic conditions[4]. - The company anticipates fluctuations in coal prices due to macroeconomic conditions, impacting profitability[44]. - The company is facing rising production costs due to increased prices of production factors and transportation[45]. - Environmental regulations are becoming stricter, prompting the company to strengthen compliance and promote green mining practices[44]. Digital Transformation and Innovation - The company is focusing on digital transformation with initiatives like "Smart Mining" and "Smart Supply Chain" to enhance operational efficiency[17]. - The company completed 63 benchmark creation projects to promote high-quality development and industry-leading standards[18]. - The company has established a technology innovation fund of 100 million yuan to tackle major technical challenges and promote industry-leading technological advancements[19]. - The company has successfully developed the first intelligent rapid excavation robot system in the country, leading advancements in the coal industry[23]. - The company is exploring new marketing models and accelerating digital transformation to enhance market competitiveness[17]. Environmental and Social Responsibility - The company has entered the green mine directory with four coal mines and aims to promote environmentally friendly practices[24]. - The company is committed to poverty alleviation through various initiatives, ensuring stable development in assisted villages[24]. - The company has been involved in social poverty alleviation efforts since 2012, successfully helping all targeted villages to achieve poverty alleviation by 2019[67]. - The company aims to continue promoting green and high-quality development, focusing on ecological protection and sustainable practices[74]. - The company has achieved zero emissions for key pollutants such as chemical oxygen demand (COD) and nitrogen oxides in the first half of 2020[74]. Shareholder and Governance - The total number of ordinary shareholders reached 45,922 by the end of the reporting period[87]. - The largest shareholder, Shaanxi Coal and Chemical Industry Group Co., Ltd., holds 6,313,825,200 shares, representing 63.14% of total shares[88]. - The company did not distribute dividends or increase capital reserves in the reporting period[48]. - The company’s board of directors saw changes, with the election of Yang Zhaoqian as chairman and the appointment of Party Yingqiang and Wang Lianhe as deputy general managers[96]. - The company’s independent director Wan Yongxing and supervisor Zhang Li resigned due to work changes[96]. Financial Management and Debt - The company has established a debt repayment guarantee plan, ensuring liquidity management and asset convertibility to meet bond obligations[104]. - The company’s bond interest payments are scheduled annually, with specific dates set for each bond series[103]. - The company has utilized all funds raised from the bonds for repaying financial institution loans, consistent with the fundraising plan[101]. - The company plans to continue its investment strategy while managing its debt levels effectively to enhance financial stability[127]. - The company’s total liabilities decreased from 4,190,410,380.72 CNY to 2,692,976,726.31 CNY, showing improved debt management[127]. Revenue Recognition and Business Operations - The company's revenue recognition policy states that revenue is recognized when control of goods or services is transferred to the customer, primarily including coal sales, railway transportation, and asset usage rights[197]. - Revenue from coal sales is recognized upon shipment and receipt confirmation, while railway transportation and service income are recognized upon completion of services[198]. - The company expects to maintain a strong revenue stream from its core activities, with a focus on coal and transportation services[197]. - Future revenue growth is anticipated through the expansion of service offerings and potential new contracts in the coal and transportation sectors[197].

Financial Performance - In 2019, the company achieved a net profit attributable to shareholders of CNY 11.6439 billion, representing a 5.92% increase compared to 2018[5]. - The company's operating revenue for 2019 was CNY 73.4034 billion, an increase of 28.27% from CNY 57.2237 billion in 2018[20]. - The total assets of the company at the end of 2019 were CNY 126.6835 billion, a 5.11% increase from CNY 120.5296 billion at the end of 2018[20]. - The company's net assets attributable to shareholders increased by 14.98% to CNY 58.2538 billion at the end of 2019[20]. - Basic earnings per share increased by 7.27% to CNY 1.18 compared to the same period last year[21]. - The company reported a net profit attributable to shareholders of 11.64 billion RMB, reflecting a year-on-year increase of 5.92%[56]. - The company's total operating revenue for 2019 was 7,340,344.31 million, with a gross profit margin of 40.93%, a decrease of 7.76 percentage points compared to the previous year[61]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 3.60 per share, totaling CNY 3.4902 billion, which is 30% of the net profit attributable to shareholders[5]. - The total dividend payout ratio for 2019, including share repurchase, was 40.50% of the distributable profit[5]. - Cumulative cash dividends from 2016 to 2019 amounted to 11.97 billion RMB, representing an average payout ratio of 33% of net profit attributable to shareholders[109]. - In 2019, the cash dividend per 10 shares was 3.60 RMB, with a total cash dividend of 349.02 million RMB[111]. Operational Highlights - The company's coal production reached 115 million tons, a year-on-year increase of 6.3%[31]. - Coal sales volume was 178 million tons, representing a growth of approximately 24.9% year-on-year[32]. - The company achieved a coal production of 114.94 million tons, an increase of 6.34% year-on-year, with a sales volume of 178.49 million tons, up 24.88% year-on-year[55]. - The average selling price of coal was 383.47 RMB/ton, an increase of 2.82% year-on-year, while the total operating revenue reached 73.40 billion RMB, a growth of 28.27% year-on-year[56][59]. Cost and Expenses - The company’s operating costs increased by 47.67% year-on-year, amounting to 43.36 billion RMB, primarily driven by coal business costs[59]. - The gross profit margin for the coal mining industry was 41.28%, a decrease of 8.17 percentage points compared to the previous year[61]. - Total operating costs increased by 47.67% to 4,335,664.81 million yuan, primarily due to a rise in purchased coal costs and geological restoration fund implementation[70]. - Sales expenses rose by 26.14% to 2,768 million yuan, mainly due to increased railway freight from higher trade coal settlement volumes[72]. Innovation and Development - The company is focusing on high-quality coal development and aims to build a "smart mine" and "intelligent mining area"[31]. - The company applied for 193 patents in 2019, with 113 granted, including 4 invention patents and 103 utility model patents[36]. - The company is focusing on technological innovation, establishing a smart mining platform and promoting the use of 5G, big data, and AI in production processes[50]. - The company has established a budget management model that enhances efficiency and reduces production costs, while controlling non-production expenses[35]. Environmental and Safety Initiatives - The company has established a comprehensive disaster prevention and control system to enhance safety and risk management capabilities[47]. - The company is committed to green development and clean utilization of coal resources, promoting low-carbon development and green transformation[143]. - The company has implemented a comprehensive wastewater pollution prevention and control system, achieving compliance with all pollutant discharge standards[144]. - The company has constructed wastewater treatment facilities with a total capacity of 1,850 m³/h for mine water and upgraded its living wastewater treatment process to MBR technology, enhancing treatment efficiency[150]. Market and Economic Outlook - The company faces uncertainties in its 2020 operational goals due to macroeconomic fluctuations and changes in coal industry policies[6]. - The macroeconomic environment in 2019 showed a GDP growth of 6.1%, with a total GDP reaching 99 trillion RMB, indicating a stable economic backdrop for the coal industry[93]. - The company anticipates that coal consumption will remain stable with slight growth, driven by the transition to high-quality development in the energy sector[95]. - The company expects coal consumption in 2020 to remain stable, with domestic coal supply capabilities increasing due to accelerated release of advantageous production capacity and enhanced railway transport capacity[97]. Corporate Governance and Compliance - The company has established a comprehensive internal control system covering various management aspects to mitigate operational risks[186]. - The company ensures independence from its controlling shareholder in business, personnel, assets, and financial aspects[193]. - The company has a performance evaluation mechanism for senior management, linking assessment results to compensation distribution[195]. - The company has appointed Sigma Accounting Firm for the 2019 financial audit, with a remuneration of RMB 2.6 million[119]. Shareholder Information - The largest shareholder, Shaanxi Coal and Chemical Industry Group Co., Ltd., holds 6,313,825,200 shares, accounting for 63.14% of total shares[166]. - The second-largest shareholder, Shaanxi Coal Industry Co., Ltd. Repurchase Special Securities Account, holds 305,000,000 shares, representing 3.05%[166]. - The actual controller of the company is the Shaanxi Provincial People's Government State-owned Assets Supervision and Administration Commission[169]. - There are no changes in the actual controller during the reporting period[169].

Financial Performance - Net profit attributable to shareholders decreased by 15.08% to CNY 235,616.42 million year-on-year[4] - Operating revenue rose by 27.28% to CNY 1,833,498.08 million compared to the same period last year[4] - Basic earnings per share decreased by 14.29% to CNY 0.24 per share[4] - The company reported a loss of CNY 17.22 million from the disposal of non-current assets[5] - The gross profit from coal sales decreased by 7.58% to ¥584,374.58 from ¥632,315.34, indicating a decline in profitability despite increased sales volume[13] - The total profit for Q1 2020 was ¥3.92 billion, down from ¥4.33 billion, reflecting a decrease of approximately 9.1%[22] - Net profit for Q1 2020 was ¥3.41 billion, a decrease of 9.8% compared to ¥3.78 billion in Q1 2019[22] - The company achieved a gross profit margin improvement, with operating profit for Q1 2020 at CNY 598,676,750.57, compared to CNY 556,259,410.87 in Q1 2019[26] Revenue and Costs - Operating costs also increased to ¥14.93 billion, up from ¥10.57 billion, reflecting a rise of approximately 41.0%[21] - The company reported a significant increase in sales costs by 52.99% to ¥12,280,104,190.38 from ¥8,026,554,220.41, driven by higher trade coal volumes[10] - The company's sales revenue from coal increased by 36.73% to ¥18,117,442,707.20 compared to ¥13,250,267,788.90 in the previous period[12] - The total cash received from investment income rose significantly to ¥138,427,159.00 from ¥13,285.55, indicating a substantial increase in dividends received from subsidiaries[12] Assets and Liabilities - Total assets increased by 3.21% to CNY 13,074,431.44 million compared to the end of the previous year[4] - Total liabilities decreased slightly to ¥50,478,070,171.19 from ¥50,513,655,762.66, indicating a marginal decline of about 0.1%[17] - The company's long-term borrowings decreased significantly to ¥4,459,207,380.36 from ¥9,071,092,380.36, a decrease of approximately 50.9%[17] - Current liabilities rose to ¥32,462,396,582.49, compared to ¥27,906,374,507.40, marking an increase of about 16.5%[17] - Total current assets increased to ¥37,730,307,148.21 from ¥35,236,671,246.99, showing a growth of about 7.1%[18] Cash Flow - Net cash flow from operating activities decreased by 50.14% to CNY 268,825.93 million compared to the previous year[4] - Cash flow from operating activities for Q1 2020 was CNY 2,688,259,253.06, down from CNY 5,391,596,639.98 in Q1 2019, reflecting a decrease of approximately 50.1%[29] - The company's cash inflow from operating activities was impacted by a significant increase in cash payments for other operating activities, totaling ¥17,478,922,934.20 compared to ¥14,107,426,791.58 in Q1 2019[30] Shareholder Information - The number of shareholders at the end of the reporting period was 44,377[7] - The largest shareholder, Shaanxi Coal and Chemical Industry Group Co., Ltd., holds 63.14% of the shares[7] Accounting Standards and Policies - The company implemented new revenue and leasing standards starting January 1, 2020, which will not significantly impact revenue, net profit, net assets, or cash flow[37] - The cumulative impact of the new revenue standard only adjusts the beginning retained earnings and related financial statement items for the year of implementation[37] - The company aims to provide more reliable financial information through the adoption of the new accounting standards[37] - The adjustments made are in accordance with the revised accounting standards issued by the Ministry of Finance[37] - The company is committed to transparency in its financial reporting following the new standards[37]

Financial Performance - Operating revenue for the first nine months was RMB 5,075,477.43 million, representing a growth of 23.40% compared to the same period last year[6]. - Net profit attributable to shareholders of the listed company was RMB 908,348.97 million, showing a slight increase of 2.47% year-on-year[6]. - Basic earnings per share for the reporting period was RMB 0.94, an increase of 5.62% compared to RMB 0.89 in the same period last year[7]. - Total operating revenue for Q3 2019 reached ¥18.17 billion, a 22.9% increase from ¥14.89 billion in Q3 2018[25]. - Net profit for Q3 2019 was ¥4.71 billion, representing a 7.5% increase compared to ¥4.38 billion in Q3 2018[26]. - The company reported a net profit of CNY 543.17 million for Q3 2019, up from CNY 302.36 million in Q3 2018, reflecting an increase of approximately 79.5%[30]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 12,455,999.04 million, an increase of 3.34% compared to the end of the previous year[6]. - Total liabilities decreased from 54.14 billion to 48.45 billion, a reduction of approximately 10.5%[21]. - The total assets of the company reached ¥124,559,990.38 million, an increase from the previous year[20]. - The total cash and cash equivalents at the end of the period reached CNY 12,223,231,050.43, up from CNY 8,993,830,763.35 at the end of the same period last year, reflecting an increase of about 36.5%[36]. - Total liabilities amounted to CNY 54,140,743,762.66, with current liabilities at CNY 28,679,184,395.87 and non-current liabilities at CNY 25,461,559,366.79[37]. Cash Flow - The net cash flow from operating activities for the first nine months was RMB 1,560,182.50 million, up by 21.45% from the previous year[6]. - The company reported a significant increase in cash received from sales, up 30.46% to ¥5,116,203.14 million[16]. - Cash inflow from operating activities totaled CNY 51.83 billion for the first three quarters of 2019, compared to CNY 39.74 billion in the same period of 2018, indicating a growth of about 30.5%[32]. - The net cash flow from financing activities was -CNY 6,839,670,432.19, worsening from -CNY 2,675,948,689.24 in the previous year, indicating a decline in financing activities[35]. Shareholder Information - Net assets attributable to shareholders of the listed company amounted to RMB 5,639,176.30 million, reflecting an increase of 11.30% year-on-year[6]. - The total number of shareholders at the end of the reporting period was 46,193[10]. - The largest shareholder, Shaanxi Coal and Chemical Industry Group Co., Ltd., held 6,313,825,200 shares, accounting for 63.14% of total shares[10]. Inventory and Receivables - Accounts receivable decreased by 62.87% to ¥352,725.51 million as a result of bill maturities and discounts[15]. - Inventory increased by 5.56% to ¥1,133,287.93 million, reflecting strategic stockpiling[19]. - Other receivables rose by 85.09% to ¥77,964.72 million, mainly due to increased dividends receivable[15]. Comprehensive Income - The company’s other comprehensive income improved from -55.90 million to -49.98 million, a reduction in losses of approximately 10.5%[24]. - The company’s total comprehensive income for Q3 2019 was CNY 543.17 million, compared to CNY 277.99 million in Q3 2018, reflecting an increase of approximately 95.7%[30].

Financial Performance - The company's operating revenue for the first half of 2019 reached CNY 3,258,567.41 million, an increase of 24.17% compared to the same period last year[15]. - The net profit attributable to shareholders of the listed company was CNY 587,106.69 million, showing a slight decrease of 1.23% year-on-year[15]. - The net cash flow from operating activities increased significantly by 73.72% to CNY 1,103,398.13 million compared to the previous year[15]. - The total assets of the company at the end of the reporting period were CNY 12,185,084.42 million, reflecting a 1.10% increase from the end of the previous year[15]. - The net assets attributable to shareholders of the listed company increased by 4.30% to CNY 5,284,453.33 million[15]. - The basic earnings per share for the first half of 2019 was CNY 0.60, a slight increase of 1.69% compared to the same period last year[16]. - The weighted average return on net assets decreased by 1.50 percentage points to 11.00% compared to the previous year[16]. Operational Highlights - The company achieved a coal sales volume of 77.3 million tons in the first half of the year, representing an 18% year-on-year increase[20]. - The company obtained approved production capacity of 28 million tons per year for the Xiaobaodang No. 1 and No. 2 mines, ensuring steady release of quality capacity[20]. - The company’s trading volume at the Shaanxi Coal Trading Center reached 92.67 million tons, a 30% increase year-on-year, making it one of the largest coal spot trading markets in China[23]. - The company achieved coal production of 53.7 million tons, an increase of 990,000 tons or 1.87% year-on-year[35]. - The total sales volume of commercial coal reached 77.3 million tons, up by 1.189 million tons or 18.18% compared to the same period last year[37]. Safety and Risk Management - The company faced risks from macroeconomic fluctuations and changes in coal industry policies, which may impact its operational performance[5]. - The company has implemented a dual prevention mechanism for safety production, enhancing its safety management practices[21]. - The company is exploring the construction of a new energy ecosystem while optimizing its coal production structure[20]. - Safety production risks are acknowledged, with a focus on preemptive measures to prevent geological hazards in coal mining operations[54]. - The company has established a risk prevention system and optimized internal control systems to enhance operational management levels[32]. Environmental and Social Responsibility - The company reported no significant environmental pollution incidents during the reporting period and complied with all relevant environmental standards[82]. - The company has implemented comprehensive wastewater pollution prevention measures, achieving zero discharge of chemical oxygen demand (COD) in the first half of 2019[82]. - The company is actively promoting green mining initiatives and aims to establish a green and environmentally friendly corporate image[82]. - The poverty alleviation efforts resulted in a reduction of 64.5% in the number of impoverished households since 2014, with plans for all supported villages to be lifted out of poverty by the end of 2019[79]. - The company invested 5.06 million RMB in 10 collective economic projects in impoverished villages during the first half of the year, focusing on specialty agriculture and community factories[76]. Financial Management and Investments - The company has significant investments in subsidiaries, with major contributors to net profit including Tongchuan Mining and Binchang Mining[48]. - The company holds a 30% equity stake in Shaanxi Coal and Chemical Financial Co., with total assets of CNY 1,902,063 million[51]. - The company has a 40% equity stake in Shaanxi Coal Industry Group Huangling Jianzhuang Mining Co., with registered capital of CNY 36,100 million[51]. - The company has invested in new energy and new materials, aligning with national strategic directions for emerging industries[31]. - The company has repurchased shares, resulting in an increase in treasury stock to 2.503 billion RMB, up by 95.70% year-on-year[44]. Corporate Governance - The company did not propose any profit distribution or capital reserve increase for the reporting period[56]. - The company has fulfilled its commitments regarding competition resolution and related transactions, ensuring compliance with long-term obligations[59]. - The company confirmed that there are no major litigation or arbitration matters during the reporting period[65]. - All directors, supervisors, and senior management of the company do not hold any shares in the company[63]. - The total number of ordinary shareholders reached 52,636 by the end of the reporting period[92]. Accounting and Financial Reporting - The company’s financial statements are prepared based on the assumption of going concern, with no significant doubts about its ability to continue operations for the next 12 months[139]. - The company adheres to specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition, among others[140]. - The company’s accounting period runs from January 1 to December 31 each year[142]. - The company has undergone changes in the scope of consolidation, which are detailed in the financial report[137]. - The company recognizes its share of assets and liabilities in joint operations and accounts for them according to relevant accounting standards[149].