Financial Performance - The company achieved a revenue of over RMB 140 billion in 2020, an increase of RMB 11.6 billion year-on-year, marking a historical high and a growth of 137.9% compared to 2015[5]. - The pre-tax profit was RMB 11.68 billion, a decrease of RMB 1.34 billion year-on-year, but an increase of RMB 15.26 billion compared to 2015[5]. - The company reported a net profit of CNY 5,904,167,000 for the year ended December 31, 2020, with a proposed cash dividend distribution of CNY 1,771,250,100, which is 30% of the net profit[152]. - The profit attributable to shareholders dropped by 13.7% to CNY 5.351 billion, reflecting challenges in the coal and coal chemical product markets[47]. - The company reported a revenue of 141 billion yuan in 2020, representing a year-on-year growth of 9%[98]. Production and Sales - The company produced 110 million tons of coal, an increase of 8.17 million tons year-on-year, and nearly doubled compared to 2015[5]. - The company’s coal sales volume reached 265 million tons, an increase of 34.16 million tons year-on-year, nearly doubling compared to 2015[5]. - The total coal production reached 110.01 million tons, with sales volume of 111.05 million tons, representing increases of 8.17 million tons and 9.10 million tons respectively year-on-year[10]. - The company’s self-produced coal sales volume reached 110.96 million tons, up 9.0% from 2019, with significant regional growth in North China (11.9%) and South China (13.6%)[81]. - The company achieved a total coal sales volume of 265.44 million tons in 2020, representing a year-on-year increase of 14.8%[80]. Financial Position - The total assets exceeded RMB 280 billion, with equity attributable to shareholders surpassing RMB 100 billion, increasing by RMB 23.5 billion and RMB 17 billion respectively since 2015[5]. - The company’s total assets increased to 281.57 billion yuan, a rise of 9.02 billion yuan or 3.3% year-on-year[11]. - The debt-to-equity ratio improved to 43.6%, down 1.0 percentage point from the previous year[11]. - Cash and cash equivalents increased by CNY 2.903 billion to CNY 15.041 billion, with net cash inflow from operating activities rising by CNY 0.651 billion to CNY 22.632 billion[48]. - Borrowings increased by 7.344 billion CNY or 12.0% to 68.658 billion CNY as of December 31, 2020, from 61.314 billion CNY[56]. Cost Management - The unit sales cost of self-produced coal decreased by 21.15 yuan per ton year-on-year, indicating improved cost management[10]. - The sales cost of the coal business rose by 11.9% to 98.802 billion RMB, primarily due to a 2,517,000 ton increase in purchased trade coal sales volume, which added 10.157 billion RMB to costs[22]. - Employee costs decreased by 5.0% from CNY 5.55 billion in 2019 to CNY 5.27 billion in 2020, mainly due to temporary reductions in social security contributions[16]. - The gross profit margin for coal mining equipment business improved by 2.1 percentage points to 15.5% in 2020, reflecting increased profitability[19]. - The company achieved a coal production cost lower than most national peers, with significant resource bases in Shanxi and Inner Mongolia, contributing to its competitive advantage[92]. Strategic Initiatives - The company plans to optimize its industrial structure and accelerate the layout of new energy projects in 2021[8]. - The company aims to enhance its safety management system and maintain a stable safety production situation[6]. - The company will continue to deepen the reform of state-owned enterprises to stimulate internal development motivation[8]. - The company plans to utilize funds primarily for investments in coal, coal chemical, mining equipment, and power generation businesses[49]. - The company plans to expand its market presence through strategic acquisitions and partnerships in the coming years[70]. Environmental and Safety Management - The company has implemented a comprehensive ecological and environmental protection management system, resulting in a year-on-year decrease in major pollutant emissions[126]. - The company has achieved ultra-low emissions in all public coal-fired power plants, contributing to pollution prevention efforts[127]. - The company has established a carbon emission management system, with ongoing training and assessments to enhance carbon control capabilities[127]. - The company conducted safety training for 43,000 employees, with 31,000 participating in emergency drills and skill competitions[124]. - The company has established a comprehensive occupational health management system, conducting annual health checks for employees and improving workplace conditions[125]. Research and Development - The company has ongoing research and development efforts focused on new products and technologies to enhance market competitiveness[70]. - In 2020, China Coal Energy increased R&D investment to 1.646 billion yuan, a year-on-year increase of 414 million yuan, representing a growth of 33.6%[116]. - The company achieved over 20 major technological breakthroughs during the reporting period, focusing on key technology projects in coal mining and chemical engineering[116]. - The implementation of intelligent mining technology resulted in a 30% reduction in workforce and a 5% increase in recovery efficiency in Shanxi region[119]. - The company is committed to developing new coal-chemical products, which will help reduce energy consumption and expand market reach[93]. Governance and Management - The company has a robust governance structure with experienced management personnel, including a vice president with over 25 years of financial management experience[140]. - The total remuneration for directors, supervisors, and senior management in 2020 amounted to RMB 6.1899 million (including tax)[141]. - The company has established a salary strategy that aligns with external market conditions and internal structures, linking compensation to economic performance and labor productivity[144]. - The company received annual confirmation letters regarding the independence of all independent non-executive directors, confirming their independence under the Hong Kong Stock Exchange listing rules[130]. - The company has not recorded any shareholders waiving their rights to dividends as of December 31, 2020[156]. Market and Industry Position - The company is the largest coal trading service provider in China, with a strong marketing network and logistics system, enhancing its market development capabilities[92]. - The company is focusing on the integration of coal and electricity, expanding its power generation business primarily through pithead power plants[77]. - The company is advancing its coal-chemical and coal-electricity integration strategy, with projects like the 2×350MW thermal power project in Shanghai completed and operational[92]. - The company has developed a strong competitive advantage in low-cost operations and advanced coal mining technologies[77]. - The company aims to enhance its core competitiveness by prioritizing customer needs and market orientation[104].

Financial Performance - The net profit attributable to shareholders for the year ended December 31, 2020, was CNY 5,904,167,000 under Chinese accounting standards, with a proposed cash dividend of CNY 1,771,250,100, representing 30% of the net profit[5]. - The company plans to distribute a cash dividend of CNY 0.134 per share based on the total issued share capital of 13,258,663,400 shares[5]. - In 2020, the company's operating revenue reached CNY 140,961,304 thousand, representing a 9.0% increase compared to CNY 129,334,706 thousand in 2019[22]. - The net profit attributable to shareholders was CNY 5,904,167 thousand, a 4.9% increase from CNY 5,628,607 thousand in the previous year[22]. - The basic earnings per share for 2020 was CNY 0.45, up 7.1% from CNY 0.42 in 2019[23]. - The total assets at the end of 2020 amounted to CNY 281,686,377 thousand, reflecting a 3.3% increase from CNY 272,565,137 thousand in 2019[22]. - The net cash flow from operating activities was CNY 22,631,996 thousand, a 3.0% increase compared to CNY 21,980,611 thousand in 2019[22]. - The company achieved a total operating revenue of RMB 140.96 billion in 2020, an increase of RMB 11.63 billion or 9.0% year-on-year[62]. - The net profit attributable to shareholders of the parent company was RMB 5.90 billion, up RMB 0.28 billion or 4.9% year-on-year[62]. - The company's total profit increased by 1.4% to 12.325 billion RMB in 2020, compared to 12.151 billion RMB in 2019[104]. Risk Management - The company faces risks related to macroeconomic fluctuations, product price volatility, safety production, project investment, environmental protection, rising costs, and exchange rates, which are detailed in the report[8]. - The company emphasizes the importance of risk management, particularly in safety, environmental protection, and project investment[168][172][171]. - The company will adjust its operational plans based on actual market conditions and potential risks from external factors[163]. Governance and Compliance - The company has received a standard unqualified audit report from Deloitte Huayong Accounting Firm[4]. - The board of directors guarantees the authenticity, accuracy, and completeness of the annual report, with no false records or misleading statements[9]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[6]. - The company does not have any violations in decision-making procedures for providing guarantees[6]. - The supervisory board confirmed that the financial reports were audited without any reservations, reflecting the company's financial status accurately[181]. - The supervisory board found no violations of laws or regulations by the company's directors and senior management during the reporting period[180]. - The company has committed to distributing at least 20% of its annual distributable profits as cash dividends to shareholders, based on the lower of the amounts calculated under Chinese accounting standards and international financial reporting standards[194]. Operational Highlights - The company maintained a zero infection rate among its employees during the COVID-19 pandemic while achieving significant operational performance[33]. - The company achieved a coal sales volume of 265.44 million tons in 2020, a year-on-year increase of 14.8%, with accounts receivable turnover days controlled within 10 days[44]. - The company produced and sold 147.4 million tons of polyolefins, 224.8 million tons of urea, and 68.8 million tons of methanol in 2020, with a 100% collection rate for receivables[47]. - The company completed a coal production of 110 million tons, an increase of 8.17 million tons year-on-year, and a growth of 15.3% compared to 2015[34]. - The company achieved a total coal production of 110.01 million tons and sales of 111.05 million tons, exceeding its annual production and operation plan[160]. Investment and Capital Expenditure - The company completed capital expenditures of 10.411 billion RMB, achieving 76.18% of the planned 13.666 billion RMB[137]. - The company invested 3.16 billion RMB in external equity investments during 2020, primarily for local coal mine integration and capital contributions[144]. - The capital expenditure plan for 2021 is set at 11.789 billion yuan, a decrease of 1.877 billion yuan (13.73%) compared to 2020[164]. - The investment in coal is planned at 9.046 billion yuan, which is an increase of 8.86% from the previous year's completion of 8.31 billion yuan[166]. Future Outlook - The company plans to continue optimizing its industrial structure and accelerating the layout of new energy projects in 2021, aiming for high-quality development[38]. - The company aims to become a world-class clean energy supplier and service provider, focusing on safety, green production, and high-efficiency utilization[157]. - The company plans to enhance its marketing capabilities to optimize regional coal resource integration and increase revenue generation[161]. - The company plans to produce and sell over 105 million tons of self-produced coal, 1.4 million tons of polyolefin products, and 2 million tons of urea in 2021[161].

Financial Performance - The company achieved a revenue of 61.4 billion RMB in the first half of the year, maintaining a year-on-year growth despite the challenges posed by the COVID-19 pandemic[5]. - Taxable profit reached 5.77 billion RMB, with net profit attributable to shareholders amounting to 2.53 billion RMB, demonstrating effective cost control and operational stability[5]. - The company reported a revenue of 61.393 billion yuan for the first half of 2020, an increase of 0.6% compared to 61.043 billion yuan in the same period last year[12]. - The profit attributable to shareholders was 2.529 billion yuan, a decrease of 38.7% compared to 4.127 billion yuan in the same period last year[12]. - The group reported a profit before tax fell by 31.8% to CNY 5.766 billion, compared to CNY 8.453 billion for the same period last year[48]. - Operating profit for the group decreased by 14.7% to CNY 7.880 billion, primarily due to declining market prices for coal and coal chemical products[44]. - The gross profit for the six months ended June 30, 2020, decreased by 12.6% to CNY 10.117 billion from CNY 11.580 billion for the same period in 2019, with a gross margin decline of 2.5 percentage points to 16.5%[20]. - The company reported a significant decrease in interest income, which fell to RMB 243,305 thousand from RMB 73,840 thousand in the previous year, a decline of approximately 67.5%[147]. Production and Sales - Coal production volume increased by 5% year-on-year, reaching 53.07 million tons, while coal sales volume hit a record high of 115.63 million tons[6]. - The company achieved a total coal production of 53.07 million tons during the reporting period, with thermal coal production at 47.34 million tons and coking coal production at 5.73 million tons[74]. - The company completed the production of 763,000 tons of polyolefins and 866,000 tons of urea, maintaining a balanced production and sales in the coal chemical sector[6]. - The company achieved a total coal sales volume of 115.63 million tons in the first half of the year, representing a year-on-year increase of 12.1%[76]. - The sales volume of purchased coal reached 61.57 million tons, up 25% compared to the same period last year[76]. Cost Management - The unit sales cost of self-produced coal decreased by 20.07 yuan per ton compared to the previous year[11]. - Employee costs decreased by 7.7% to CNY 2.178 billion from CNY 2.360 billion, attributed to wage adjustments based on performance and temporary reductions in social security contributions due to COVID-19[19]. - The sales cost for the six months ended June 30, 2020, rose by 3.7% to CNY 51.276 billion from CNY 49.463 billion for the same period in 2019, mainly due to increased sales volume of commodity coal and mining equipment[19]. - The total sales cost of the coal chemical business segment decreased by 10.0% to CNY 6.980 billion, attributed to improved cost management and lower procurement prices for raw materials[31]. Investments and Financing - The company successfully issued China's first "registered system" corporate bond, demonstrating its commitment to the implementation of significant reforms in the securities market[7]. - The company issued bonds totaling 30 billion RMB to supplement operating funds and adjust debt structure as of June 30, 2020[67]. - The company has a total guarantee amount of 15.499 billion RMB, with 11.851 billion RMB provided to associated companies[71]. - The company registered medium-term notes of CNY 5 billion, with CNY 1.5 billion issued at a 3.28% interest rate and CNY 0.5 billion at a 3.60% interest rate[109]. Market and Industry Outlook - The coal industry is expected to maintain stable prices in the second half of the year, providing a favorable environment for the company's operations[11]. - The company is focusing on strategic reforms and technological innovation to strengthen its core competitiveness[11]. - The company plans to continue expanding coal production and sales while managing production costs effectively to mitigate the impact of market price declines[20]. Safety and Compliance - The company has maintained a stable safety production record, with no major environmental incidents reported in the first half of the year[7]. - The company has implemented safety management measures, achieving all safety targets and maintaining a stable safety production situation[74]. - The company emphasizes compliance with corporate governance codes and continuously improves internal controls to enhance operational efficiency[90]. Research and Development - The company obtained over 120 patents in the first half of the year, enhancing its core competitiveness and industry leadership[6]. - The company is committed to technological innovation, enhancing its production quality and efficiency through the development of intelligent mining technologies[74]. Corporate Governance - The board of directors consists of 8 members, including 2 executive directors and 3 independent non-executive directors, ensuring effective governance and oversight[89]. - The company conducted 24 investor meetings, engaging with 379 participants to enhance investor relations[84]. - The company maintained a strong focus on investor protection and communication, responding to inquiries through various channels including online platforms and direct communication[86].

Financial Performance - In 2019, the company achieved a revenue of RMB 129.3 billion, representing a year-on-year growth of 24.2%[6]. - The company's pre-tax profit reached RMB 13.02 billion, an increase of 31.2% compared to the previous year[6]. - Net profit attributable to shareholders was RMB 6.2 billion, reflecting a year-on-year growth of 40.6%[6]. - The company's total revenue for the year ended December 31, 2019, increased by 24.2% to CNY 129.29 billion from CNY 104.14 billion in 2018, primarily driven by increased sales of self-produced coal and expanded trading coal volume[10][13]. - The net profit attributable to shareholders for the year ended December 31, 2019, rose by 40.6% to CNY 6.20 billion from CNY 4.41 billion in 2018[10]. - The company's cash flow from operating activities increased by 7.6% to CNY 21.98 billion in 2019, compared to CNY 20.43 billion in 2018[10]. - Operating profit increased by 28.9% to CNY 15.18 billion, with coal business contributing CNY 13.13 billion, a 21.3% increase[43][44]. - Profit attributable to shareholders increased by 40.6% to CNY 6.20 billion[48]. Production and Sales - The total coal production for the year was 100 million tons, a 32% increase year-on-year, while coal sales volume reached 230 million tons, up 38.6%[6]. - The company reported a record coal sales volume of 231.28 million tons in 2019, representing a year-on-year increase of 38.6%[80]. - The self-produced coal sales volume reached 101.76 million tons, up 32.8% from 2018, with significant growth in various regions[81]. - The company achieved a total coal production of 101.84 million tons and sales of 101.95 million tons, exceeding its annual production and operational targets[94]. - The self-produced coal output increased by 32.1% to 101.84 million tons in 2019, up from 77.13 million tons in 2018[9]. - The company's trading coal sales volume reached 121.27 million tons, a 45.1% increase compared to the previous year[80]. Financial Stability and Investments - The company’s asset-liability ratio decreased by 2.2 percentage points compared to the beginning of the year, indicating improved financial stability[6]. - The company's debt-to-equity ratio improved to 44.6% in 2019, down from 46.8% in 2018, indicating enhanced financial stability[10]. - The company reported a significant increase in the scale of self-operated loans and deposits, growing by 21.8% and 17.5% respectively[9]. - Cash and cash equivalents increased by CNY 3.77 billion to CNY 12.14 billion, with net cash inflow from operating activities rising to CNY 21.98 billion[49]. - The company completed CNY 19.10 billion in investments for the synthetic gas methanol project, with a total investment of CNY 50.13 billion[103]. - The company plans to reduce its 2020 capital expenditure to CNY 136.66 billion, a decrease of CNY 9.44 billion or 6.46% compared to 2019[104]. Cost Management - The group's sales cost increased by 26.1% to CNY 108.30 billion from CNY 85.88 billion for the year ended December 31, 2018, primarily due to increased sales volume of self-produced coal and expanded trading coal operations[16]. - Employee costs increased by 21.8% to CNY 5.53 billion for the year ended December 31, 2019, due to wage adjustments and new projects coming into production[16]. - The sales cost of the coal business increased by 32.9% to CNY 88.28 billion, primarily due to the continuous release of advanced coal production capacity and the expansion of coal trading volume[23]. - The gross profit of the coal business increased by 12.0% to CNY 16.23 billion, despite a decline in sales prices, resulting in a gross margin decrease from 17.9% to 15.5%[27]. Technological Innovation and Development - The company is committed to advancing technological innovation and developing key core technologies to improve competitiveness[7]. - Research and development investments were increased to enhance innovation capabilities, focusing on key core technologies and intelligent mining equipment[79]. - The company is focusing on innovation, establishing research centers for gas management and water control, enhancing its technological capabilities[91]. - The company is advancing the development of clean and efficient coal chemical processes, achieving industry-leading levels in product energy consumption[97]. Environmental and Safety Management - The company maintained a zero fatality rate in coal mining operations, emphasizing its commitment to safety[79]. - The company invested in pollution prevention and ecological environment governance, maintaining advanced levels in coal mining recovery rates and comprehensive utilization of resources[118]. - The company initiated carbon emission management in line with national carbon trading requirements, completing carbon inventory and management plans[120]. - The company has implemented a green development strategy, focusing on sustainable mining practices and resource utilization[96]. Market Position and Strategy - The company plans to continue focusing on the integration of coal, electricity, and chemical industries to strengthen its market position[7]. - The company is expanding its marketing network to achieve nationwide market coverage and enhance its market influence[6]. - The company aims to optimize its marketing network and expand market share through innovative marketing strategies[80]. - The company is the largest coal trading service provider in China, with a strong marketing network and logistics system[90]. Corporate Governance and Management - The company has a diverse board with representatives from different sectors of the coal industry, ensuring comprehensive oversight and strategic direction[129][132]. - The management team includes professionals with advanced degrees and qualifications, such as high-level engineers and senior accountants, enhancing the company's operational capabilities[129][131]. - The company emphasizes employee development as a key factor for sustainable growth, providing training and career development opportunities[99]. - The company is committed to compliance with various laws and regulations, ensuring adherence through internal controls and training[98]. Shareholder and Dividend Policy - The company plans to distribute a cash dividend of RMB 1,687.9311 million, which is 30% of the net profit attributable to shareholders for the year ended December 31, 2019, amounting to RMB 5,626.437 million[143]. - The company maintains a dividend policy of distributing at least 20% of the distributable profits to shareholders annually[142]. - The company has not made any arrangements for shareholders to waive dividends as of December 31, 2019[146]. Risks and Challenges - The company faces macroeconomic volatility risks that may impact operational performance due to external factors such as industry policy changes and public health events[182]. - Safety production risks are significant in coal and coal chemical production, prompting the company to enhance safety management and automation levels[184]. - Rising cost pressures are a concern due to complex mining conditions and increased safety and environmental investments, leading the company to enhance cost control measures[187].