Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,954,814,271.54, representing a 13.18% increase compared to CNY 2,249,581,478.16 in the same period last year[10]. - Net profit attributable to shareholders was CNY 645,505,718.08, a significant increase of 122.75% from CNY 286,672,895.61 in the previous year[10]. - The net profit after deducting non-recurring gains and losses was CNY 619,706,470.42, up 118.29% from CNY 284,287,673.34 in the same period last year[10]. - Basic earnings per share increased to CNY 0.2574, a 103.16% rise from CNY 0.1254 in the previous year[10]. - The diluted earnings per share reached CNY 0.2106, reflecting a 135.57% increase compared to CNY 0.1254 in the same period last year[10]. - The weighted average return on equity was 7.08%, up from 3.35% in the previous year[10]. - The company achieved a total operating revenue of CNY 2,954,814,271.54, representing a year-on-year increase of 13.18%[18]. - The company reported an operating profit of CNY 723,112,878.30, an increase of 118.73% year-on-year, driven by rising coal prices[18]. - The total comprehensive income for the first half of 2022 was approximately CNY 645.51 million, a significant increase from CNY 289.79 million in the same period of 2021, representing a growth of 123.5%[107]. Cash Flow and Investments - The net cash flow from operating activities was CNY 13,783,005.31, a significant decrease of 96.91% compared to CNY 455,127,394.42 in the previous year[10]. - The company’s investment activities generated a net cash outflow of CNY 1,255,854,946.59, an increase of 123.70% compared to the previous year[18]. - The total cash outflow from investing activities was CNY 1.61 billion in the first half of 2022, compared to CNY 762.11 million in the same period of 2021, indicating a significant increase in investment activities[110]. - The company received CNY 255.81 million from the recovery of investments in the first half of 2022, an increase from CNY 200 million in the same period of 2021[110]. - The company’s cash and cash equivalents decreased to CNY 2,806,199,403.07 from CNY 4,231,023,707.49, a decline of approximately 33.67%[102]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 15,500,747,050.21, a decrease of 3.65% from CNY 14,412,444,303.04 at the end of the previous year[10]. - Total liabilities decreased to CNY 6,121.93 million from CNY 7,002.41 million, indicating a reduction in overall debt[101]. - The company's total assets decreased to CNY 15,500.75 million from CNY 16,088.26 million[101]. - The company's total liabilities at the end of the period were 1,000,000,000.00 CNY, showing a manageable debt level[116]. Research and Development - Research and development expenses surged by 14,068.25% to CNY 61,900,102.20, indicating a significant increase in R&D projects[18]. - Research and development expenses for the first half of 2022 were CNY 61,900,102.20, significantly higher than CNY 436,893.21 in the same period of 2021, indicating a focus on innovation[106]. Subsidiaries and Acquisitions - The company has completed the acquisition of three companies, including a 100% stake in Nongsheng Chemical for ¥225,699,671.73[24]. - The company reported a total revenue of 1,133,572,969.29 CNY from its subsidiary Jingtai Coal Industry, with a significant contribution from coal investment management and integrated construction[38]. - The company has engaged in equity acquisitions to reduce related party transactions and enhance its industrial chain resilience[38]. - The company has acquired full ownership of subsidiaries including Nongseng Chemical, Coal One Company, and Huaneng Company, which were previously controlled by the major shareholder[63]. Environmental and Social Responsibility - The company has maintained normal operation of pollution prevention facilities, adhering to national standards for emissions[47]. - The company has conducted self-monitoring of pollutants, including real-time monitoring of sulfur dioxide and nitrogen oxides emissions[48]. - The company has implemented a consumption assistance program, spending approximately 7 million yuan to support local farmers by purchasing their surplus agricultural products[52]. - The company donated 200,000 yuan to the Red Cross in Jingtai County for the construction of quarantine facilities and provided 50 tons of coal for heating at epidemic prevention points[52]. Related Party Transactions - The total amount of related party transactions for the first half of 2022 was 17,156.35 million, with a significant portion attributed to engineering construction fees[62]. - The company engaged in related party transactions for hotel dining services, generating 10.2 million, reflecting a 10.22% increase[62]. - The company continues to ensure that related party transactions do not harm the interests of shareholders, particularly minority shareholders[63]. Share Capital and Ownership - The total number of shares increased from 2,350,879,797 to 2,507,548,888 due to the conversion of convertible bonds, resulting in an increase of 156,669,091 shares[84]. - The largest shareholder, Jinyuan Coal Industry Group Co., Ltd., holds 42.33% of the shares, totaling 1,061,505,580 shares[86]. - The company has a total of 62,036 shareholders as of the end of the reporting period[86]. - The company reported a decrease of 8,710,000 shares held by the individual shareholder Man Shaonan, who now holds 63,290,000 shares, representing 2.52%[86]. Financial Reporting and Compliance - The financial statements are prepared based on the going concern principle, with no significant doubts about the company's ability to continue operations[136]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[137]. - The company has not issued any non-standard audit reports for the half-year financial report[56]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and profitability[109]. - The company aims to enhance operational efficiency through strategic mergers and acquisitions in the future[118].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,379,438,908.49, representing a 16.34% increase compared to CNY 1,185,703,012.57 in the same period last year[2]. - Net profit attributable to shareholders was CNY 447,647,027.21, a significant increase of 178.72% from CNY 160,609,719.08 year-on-year[2]. - Basic earnings per share increased to CNY 0.1898, up 170.37% from CNY 0.0702 in the same quarter last year[2]. - The total operating revenue for Q1 2022 was CNY 1,379,438,908.49, an increase of 16.3% compared to CNY 1,185,703,012.57 in the same period last year[13]. - The net profit for Q1 2022 was CNY 447,647,027.21, a significant increase of 178.5% compared to CNY 160,614,375.91 in Q1 2021[15]. - The operating profit rose to CNY 492,041,905.69, up from CNY 184,990,555.85, marking an increase of 165.5%[14]. Cash Flow - The net cash flow from operating activities reached CNY 308,794,339.52, a remarkable improvement of 744.49% compared to a negative cash flow of CNY -47,912,624.10 in the previous year[2]. - The cash inflow from operating activities for the first quarter was CNY 1,360,623,288.68, an increase of 63.2% compared to CNY 833,596,232.12 in the previous year[17]. - The cash inflow from investment activities totaled CNY 260,832,873.34, up from CNY 200,683,897.65 year-over-year[18]. - The net cash flow from investment activities was negative CNY 93,561,724.58, an improvement from negative CNY 176,435,953.82 in the previous year[18]. - The cash inflow from financing activities was CNY 4,000,000.00, down from CNY 25,000,000.00 in the same quarter last year[18]. - The net cash flow from financing activities improved to CNY 4,000,000.00 from a negative CNY 136,166,893.96 in the previous year[18]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 14,701,987,061.11, a 2.01% increase from CNY 14,412,444,303.04 at the end of the previous year[2]. - The company's total liabilities decreased to CNY 5,347,025,040.58 from CNY 5,584,053,515.01, a decline of 4.2%[12]. - The total equity attributable to shareholders of the parent company increased to CNY 9,045,958,779.17 from CNY 8,523,387,546.67, reflecting a growth of 6.1%[12]. - The company's total current assets increased to approximately ¥8.21 billion from ¥7.88 billion at the beginning of the year, reflecting a growth of about 4.23%[10]. - The total assets of the company reached approximately ¥14.70 billion, up from ¥14.41 billion, indicating an increase of about 2.14%[11]. - The company reported a decrease in accounts payable from approximately ¥924.83 million to ¥779.22 million, a reduction of about 15.73%[11]. Research and Development - Research and development expenses surged by 20,591.82% to CNY 30,133,716.92, reflecting increased investment in technology innovation and new projects[4]. - Research and development expenses were CNY 30,133,716.92, a substantial increase from CNY 145,631.07 in the previous year[14]. Taxation - The company’s income tax rate for the reporting period is set at 15%, benefiting from tax incentives for enterprises in the western region[9]. - The company reported a tax expense of CNY 42,029,364.34, up from CNY 24,522,353.63, which is an increase of 71.1%[14]. - The cash outflow for taxes paid was CNY 220,327,694.58, compared to CNY 169,105,957.53 in the previous year, reflecting a 30.3% increase[17]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 50,883, with the largest shareholder, Jingyuan Coal Industry Group Co., Ltd., holding 45.00% of shares, totaling 1,061,505,580 shares[6]. Inventory and Other Assets - The company’s inventory increased significantly from approximately ¥149.04 million to ¥262.85 million, representing a growth of about 76.38%[10]. - The deferred tax assets were adjusted to ¥178.75 million, down from ¥287.40 million, reflecting a decrease of approximately 37.87%[11]. - The company's cash and cash equivalents increased to approximately ¥4.85 billion from ¥4.64 billion, showing a growth of about 4.99%[10]. - The cash and cash equivalents net increase was CNY 219,232,614.94, a 160.81% improvement from a decrease of CNY -360,515,471.88 in the previous year[5].

Financial Performance - The company's operating revenue for 2021 was ¥4,841,239,142.35, representing a 31.30% increase compared to ¥3,687,175,330.30 in 2020[12]. - The net profit attributable to shareholders for 2021 was ¥723,945,565.17, a 62.66% increase from ¥445,056,628.43 in 2020[12]. - The net cash flow from operating activities reached ¥2,391,637,916.19 in 2021, marking a significant increase of 274.51% from ¥638,604,363.13 in 2020[12]. - The basic earnings per share for 2021 was ¥0.3151, up 61.92% from ¥0.1946 in 2020[12]. - Total assets at the end of 2021 amounted to ¥14,412,444,303.04, reflecting a 6.42% increase from ¥13,542,823,754.88 at the end of 2020[12]. - The company reported a weighted average return on equity of 8.42% for 2021, an increase from 5.77% in 2020[12]. - The total operating cost for 2021 was CNY 3,364,407,759.34, up 30.86% from CNY 2,571,043,130.81 in 2020, primarily due to increased coal sales[37]. - The company achieved a total operating revenue of CNY 4,841,239,142.35, representing a year-on-year increase of 31.30%[27]. - The company’s net profit attributable to shareholders was CNY 72,394.56 million, with earnings per share of CNY 0.3151[26]. Dividends and Shareholder Returns - The company plans to distribute cash dividends of 0.5 CNY per 10 shares, totaling 117,549,447.35 CNY (including tax) based on a total share capital of 2,350,988,947 shares as of February 18, 2022[2]. - The total cash dividend, including other methods, amounts to RMB 272,480,313.15, which represents 43.14% of the total distributable profit[99]. - The retained earnings at the end of 2021 were RMB 2,904,186,111.21 after deducting the distributed cash dividends of RMB 447,339,742.30[99]. - The company maintained a stable profit distribution policy, emphasizing continuous and stable cash dividends, although no cash dividend distribution plan was proposed for the reporting period despite positive distributable profits[96][98]. - The company reported a cash dividend of 1 yuan per 10 shares for the first half of 2021[120]. Operational Highlights - The company experienced a significant increase in quarterly operating revenue, with Q4 2021 reaching ¥1,323,807,821.96[15]. - The net profit attributable to shareholders in Q4 2021 was ¥259,726,219.43, showing strong performance compared to previous quarters[15]. - Coal production reached 877.99 million tons, while sales volume was 941.65 million tons, marking a 6.82% increase in sales volume compared to the previous year[30]. - The coal mining segment contributed CNY 3,708,413,554.17 to the total revenue, accounting for 76.60% of the total operating revenue[27]. - The company’s power generation segment reported a revenue of CNY 1,132,825,588.18, which is 23.40% of total revenue, with a year-on-year growth of 11.19%[27]. Market and Industry Insights - The company noted that the coal market maintained a "tight balance" in 2021, with prices experiencing fluctuations due to supply and demand mismatches[19]. - The company anticipates that traditional energy sources will gradually face policy restrictions, leading to a shift towards green and low-carbon development in the industry[20]. - The company has a strong market presence with a high regional market share and stable customer base, enhancing its pricing power[24]. Research and Development - Research and development expenses surged by 1,178.25% to CNY 81,709,711.10, reflecting the company's commitment to technological innovation and new project developments[37]. - The company increased its R&D personnel from 11 in 2020 to 149 in 2021, a growth of 1,254.55%[39]. - R&D investment amounted to ¥81,709,711.10 in 2021, up 1,178.25% from ¥6,392,301.40 in 2020, representing 1.69% of operating revenue[39]. Financial Management and Risk - The company’s financial risk management has been strengthened, enhancing the control over financial risks and improving asset-liability constraints[26]. - The company reported a significant increase in financial expenses by 185.21% to CNY 40,744,561.49, mainly due to increased interest on convertible bonds[37]. - The company maintained a loan repayment rate of 100.00%, up from 71.01% in the previous year, demonstrating effective debt management[181]. Governance and Management - The company’s management team has extensive experience in coal mining, safety management, and integrated operations of coal, electricity, and chemical projects[24]. - The company has established a complete production, procurement, and sales management system, demonstrating its capability for independent operations[67]. - The company has a dedicated financial department with a sound accounting system, allowing for independent financial decision-making and management[67]. - The company’s governance structure includes a clear division of responsibilities among the shareholders' meeting, board of directors, and supervisory board, ensuring compliance with regulations[65]. Environmental and Social Responsibility - The company has implemented pollution control measures, including limestone (gypsum) wet desulfurization and high-frequency electrostatic precipitators, which are operational as of 2021[110]. - The company has conducted self-monitoring of emissions, including real-time monitoring of sulfur dioxide and nitrogen oxides, in compliance with environmental regulations[111]. - The company aims to enhance operational efficiency while fulfilling its social responsibilities, focusing on the well-being of employees and stakeholders[114]. - The company organized donation activities, providing quality heating coal to 118 low-income families and sports equipment to local schools[117]. Strategic Initiatives - The company is focusing on the construction of a gasification project that utilizes local coal as raw material, aiming to produce ammonia for urea and by-products of liquid carbon dioxide and sulfur[22]. - The company is actively pursuing the establishment of Gansu Jingmei New Energy Co., Ltd. for a 28 MW photovoltaic self-use project, with feasibility studies underway[60]. - The company is advancing the construction of new energy projects, including photovoltaic power generation and wind-solar complementary projects[61]. Shareholder Structure and Changes - The largest shareholder, Jinyuan Coal Industry Group Co., Ltd., holds 45.15% of the shares, totaling 1,061,505,580 shares[162]. - The company reported a total of 54,044,198 shares repurchased, which is approximately 1.53% to 3.05% of the total share capital[171]. - The total number of shareholders as of the annual report date was 70,189, an increase from 54,423 in the previous month[162]. Internal Control and Compliance - The internal control system has been continuously improved and optimized to adapt to changes in the external environment and internal management needs[102]. - The company maintains effective internal control over financial reporting as of December 31, 2021[106]. - The company did not report any major or important internal control deficiencies during the evaluation period[104][105].

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,267,849,842.23, representing a 44.74% increase compared to the same period last year[2]. - Net profit attributable to shareholders for Q3 2021 was ¥177,546,450.13, a 54.39% increase year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥177,901,562.63, reflecting a 60.03% increase compared to the previous year[2]. - Total operating revenue for the current period reached ¥3,517,431,320.39, a significant increase of 27% compared to ¥2,771,588,373.60 in the previous period[14]. - Net profit for the current period was ¥464,209,749.91, representing a 19.4% increase from ¥388,777,816.43 in the same period last year[15]. - Operating profit increased to ¥556,225,953.26, compared to ¥430,691,107.14 in the previous period, marking a growth of 29.2%[15]. - Earnings per share for the current period were ¥0.2030, an increase from ¥0.1698 in the previous period[16]. Cash Flow - The net cash flow from operating activities for the year-to-date period reached ¥1,555,146,699.51, a significant increase of 204.01% compared to the same period last year[2]. - Cash flow from operating activities was ¥3,873,532,343.83, up from ¥2,628,080,237.63, indicating a growth of 47.3%[17]. - The net cash flow from operating activities was CNY 1,555,146,699.51, a significant increase from CNY 511,539,922.31 in the previous year, reflecting a growth of approximately 204.5%[18]. - Total cash outflow from operating activities amounted to CNY 2,318,385,644.32, compared to CNY 2,116,540,315.32 in the same period last year, indicating an increase of about 9.5%[18]. - The ending balance of cash and cash equivalents was CNY 5,848,742,018.26, up from CNY 2,285,056,501.49, reflecting a substantial increase of about 156.5%[19]. Assets and Liabilities - The company's total assets as of the end of the reporting period were ¥14,099,290,433.37, up 4.11% from the end of the previous year[3]. - The company's total liabilities as of September 30, 2021, were CNY 5,317,098,253.42, compared to CNY 5,008,806,230.65 at the end of 2020, indicating an increase of about 6.1%[12]. - The total equity attributable to shareholders of the parent company rose to CNY 8,557,074,919.33 from CNY 8,359,390,667.78, marking an increase of approximately 2.4%[13]. - The company's inventory decreased significantly from CNY 269,900,053.25 to CNY 127,020,017.43, a reduction of about 53.1%[11]. Expenses - The company's tax and additional charges increased by 31.84% year-on-year, reaching RMB 137,301,208.15 due to rising coal prices and increased sales volume[6]. - Sales expenses surged by 193.12% year-on-year to RMB 131,737,563.70, driven by higher coal sales and electricity generation[6]. - Research and development expenses doubled to RMB 17,121,481.47, reflecting increased investment in R&D projects[6]. - Financial expenses skyrocketed by 340.31% year-on-year to RMB 72,981,499.63, primarily due to the accrual of convertible bond financial costs[6]. Shareholder Information - The company repurchased a total of 54,044,198 shares, accounting for 2.36% of the total share capital, with a total transaction amount of RMB 154,930,865.80[8]. - The total number of ordinary shareholders at the end of the reporting period was 53,385, with the largest shareholder holding 46.42% of the shares[7]. Government Support and Other Income - The company received government subsidies related to daily operations, which increased by 157.57% year-on-year to RMB 9,910,746.14[6]. - The company reported other income of ¥9,910,746.14, compared to ¥3,847,739.14 in the previous period, indicating improved ancillary revenue streams[15]. Investment Activities - Cash paid for the acquisition of fixed assets and other long-term assets rose significantly by 775.66% year-on-year to RMB 265,963,204.34, mainly due to construction projects[6]. - The company has initiated a public offering of convertible bonds, raising funds for the clean and efficient gasification project, with a total issuance of 28 million bonds[9]. - The company is currently in the process of detailed engineering design for its gasification project, with various components at different stages of development[9].

Financial Performance - The company's operating revenue for the reporting period reached ¥2,249,581,478.16, representing an increase of 18.67% compared to the previous year[9]. - The net profit attributable to shareholders was ¥286,672,895.61, reflecting a growth of 4.85% year-on-year[9]. - Basic earnings per share were reported at ¥0.1254, up by 4.94% from the previous year[9]. - The company's net profit for the first half of 2021 is not explicitly stated, but the increase in revenue and costs suggests a focus on maintaining profitability amidst rising expenses[96]. - The total profit for the first half of 2021 was CNY 325,510,774.54, compared to CNY 306,784,926.21 in the previous year, marking an increase of around 6.5%[99]. - The company's net profit after deducting non-recurring gains and losses for the reporting period was approximately ¥284.29 million, an increase of 5.36% compared to the same period last year[86]. Cash Flow and Liquidity - The net cash flow from operating activities surged to ¥455,127,394.42, marking a significant increase of 252.33% compared to the same period last year[9]. - The company's cash and cash equivalents decreased to CNY 4,851,040,976.58, accounting for 35.87% of total assets, down from 39.20%[19]. - The ending balance of cash and cash equivalents was CNY 4,841,140,976.58, compared to CNY 1,902,656,436.01 at the end of the previous year, showing a substantial increase[106]. - Cash and cash equivalents decreased by CNY -467,721,253.20 during the period, an improvement from CNY -596,626,826.45 in the first half of 2020[105]. - The company plans to utilize cash flows from operating activities and cash recovered from convertible bond projects for future debt repayments[85]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥13,524,921,990.03, showing a slight decrease of 0.13% from the end of the previous year[9]. - The company's total assets for the invested enterprise, Jing Tai Coal Industry Co., Ltd., were reported at 855.67 million CNY[52]. - The total liabilities at the end of the reporting period were CNY 1,800,000,000, indicating a manageable debt level[110]. - The debt-to-asset ratio decreased to 36.54%, down from 36.98% at the end of the previous year, reflecting a stronger balance sheet[86]. Investment and Capital Expenditure - The company has invested in a gasification project that utilizes local coal as raw material, producing ammonia and by-products such as liquid carbon dioxide and sulfur[12]. - The company’s fixed asset investment increased significantly, with cash payments for fixed assets rising by 669.37% to CNY 178,111,841.36[15]. - The total investment amount for the reporting period reached CNY 163,750,000, a 100% increase compared to the same period last year[22]. - The company made a significant equity investment of CNY 125,000,000 in Jingyuan Coal Industry Group, acquiring a 100% stake in the nitrogen fertilizer manufacturing business[22]. Market Position and Operations - The company operates three independent coal fields and four production coal mines, focusing on coal mining and sales as its core business[12]. - The company has a competitive advantage with its main product "Jinghong Coal," which is characterized by low sulfur, low ash, low phosphorus, and high calorific value[14]. - The company has established a strong market presence and pricing power due to its advantageous geographical location and stable customer base[14]. - The company’s coal sales are primarily focused on the domestic market, with a significant portion of sales managed through its logistics company[13]. Risk Management - The company faced risks as outlined in the management discussion, with corresponding measures to mitigate these risks[1]. - The company is facing risks related to macroeconomic fluctuations, particularly due to the ongoing impact of the COVID-19 pandemic and the government's carbon neutrality goals[28]. - The company plans to enhance safety management and production standards to mitigate risks associated with coal mining and power generation[28]. Environmental and Social Responsibility - The company has implemented pollution control measures, including a limestone (gypsum) wet desulfurization system and a dual-chamber electrostatic precipitator, which are operational as of the first half of 2021[37]. - The total emissions of major pollutants from Baiyin Thermal Power are 20.40 tons of dust, 192.80 tons of sulfur dioxide, and 395.70 tons of nitrogen oxides, all within regulatory limits[36]. - The company has actively engaged in consumption poverty alleviation initiatives, encouraging employees to participate in purchasing local agricultural products[40]. - The company has prioritized employment expansion as a fundamental measure for poverty alleviation[40]. Shareholder Information - The company plans to distribute a cash dividend of ¥1 per 10 shares to all shareholders, with no bonus shares issued[1]. - The cash dividend distribution plan includes a cash dividend of 1 yuan per 10 shares, totaling 223,709,864.80 yuan, which represents 100% of the total profit distribution[33]. - The company has a total of 2,237,098,648 shares eligible for profit distribution, excluding shares held in the repurchase account[34]. Corporate Governance - The annual shareholders' meeting had a participation rate of 46.63% on April 21, 2021[29]. - The company has not reported any discrepancies between international and Chinese accounting standards for the reporting period[10]. - The half-year financial report has not been audited, and there are no non-standard audit reports from the previous year[44]. Financial Reporting and Accounting Policies - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position, operating results, and cash flows accurately[131]. - The company’s financial statements are prepared based on the going concern principle and comply with the accounting standards issued by the Ministry of Finance[128]. - The company recognizes revenue when it fulfills its performance obligations, with the transaction price allocated to each obligation based on their relative standalone selling prices[191].

Financial Performance - Operating revenue for Q1 2021 was CNY 1,185,703,012.57, an increase of 9.03% compared to CNY 1,087,159,644.21 in the same period last year[2] - Net profit attributable to shareholders was CNY 160,609,719.08, up 8.74% from CNY 148,957,734.21 year-on-year[2] - Basic earnings per share increased to CNY 0.0702, reflecting an 8.67% rise from CNY 0.0651 in the previous year[2] - The company reported a total of CNY 110 million in entrusted financial products, with an annualized return rate ranging from 2.45% to 3.50%[16] - The total operating income for the first quarter of 2021 was CNY 1,001,062,505.41, an increase of 13.94% compared to CNY 878,406,245.25 in the same period last year[32] - The net profit attributable to shareholders of the parent company reached CNY 160,609,719.08, up 8.88% from CNY 147,703,628.71 in the previous year[29] - The operating profit for the first quarter was CNY 184,990,555.85, representing a growth of 11.56% from CNY 165,553,123.72 in the same quarter of the previous year[29] - The company's total profit amounted to CNY 185,136,729.54, an increase of 12.77% compared to CNY 165,023,697.52 in the prior year[29] - The basic and diluted earnings per share were both CNY 0.0702, compared to CNY 0.0646 in the same period last year, reflecting a 8.66% increase[31] - The total comprehensive income for the first quarter of 2021 was CNY 130,182,054.69, compared to CNY 92,391,432.09 in the same period last year, representing an increase of approximately 40.9%[34] Cash Flow and Investments - The net cash flow from operating activities was negative CNY 47,912,624.10, a decline of 124.96% compared to a positive CNY 207,741,401.72 in the same period last year[2] - Cash inflow from operating activities totaled CNY 833,596,232.12, down from CNY 1,021,943,140.70, reflecting a decrease of about 18.4%[36] - Cash outflow from operating activities was CNY 881,508,856.22, compared to CNY 830,000,429.11 in the previous year, resulting in a net cash flow from operating activities of CNY -47,912,624.10[36] - The cash flow from investing activities showed a net outflow of CNY -176,435,953.82, compared to CNY -454,874,468.88 in the same period last year, indicating an improvement of approximately 61.2%[36] - Cash flow from financing activities resulted in a net outflow of CNY -136,166,893.96, slightly improved from CNY -144,500,554.79 in the previous year[37] - The company received CNY 200,000,000.00 from investment recoveries, down from CNY 270,000,000.00 in the previous year, indicating a decrease of about 25.9%[39] - The company paid CNY 393,750,000.00 for investment activities, compared to CNY 707,000,000.00 in the previous year, showing a reduction of approximately 44.4%[39] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,609,412,811.35, representing a 0.49% increase from CNY 10,960,732,525.69 at the end of the previous year[2] - The total assets as of March 31, 2021, amounted to CNY 12,904,814,695.79, a slight decrease from CNY 12,962,067,942.33 at the end of 2020[26] - The total liabilities decreased to CNY 4,356,301,045.35 from CNY 4,477,159,464.90, indicating a reduction of about 2.7%[26] - The total equity attributable to shareholders of the parent company increased to CNY 8,453,562,139.72 from CNY 8,359,390,667.78, reflecting a growth of approximately 1.1%[23] - The company’s total liabilities and equity amounted to CNY 13,609,412,811.35, up from CNY 13,542,823,754.88, reflecting a growth of approximately 0.5%[23] Shareholder Information - The top ten shareholders held a combined 46.42% of the shares, with the largest shareholder, Jingyuan Coal Industry Group, owning 1,061,505,580 shares[5] - The company did not engage in any repurchase transactions during the reporting period[6] - The company repurchased a total of 46,733,789 shares, accounting for 2.04% of the total share capital, with a total transaction amount of CNY 129,931,246.59[9] Operational Highlights - The company has completed the basic engineering design for the clean and efficient gasification project, with various reports and designs approved[13] - The company has invested CNY 110,000,000 in entrusted financial management, with no overdue amounts[14] - The company anticipates significant changes in net profit compared to the same period last year, but specific reasons were not applicable[14] - Research and development expenses for the quarter were CNY 145,631.07, indicating continued investment in innovation[32] Miscellaneous - The company has no reported violations regarding external guarantees during the reporting period[17] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[18] - The company engaged in discussions regarding coal resources and convertible bond projects with institutional investors during a site visit on March 31, 2021[19] - The company plans to utilize idle self-owned funds for cash management, as indicated in their financial management proposals[16] - The first quarter report for Gansu Jingyuan Coal and Electricity Co., Ltd. is unaudited[41] - The report includes a retrospective adjustment for the new leasing standards starting from 2021[41] - No specific financial performance metrics or user data were provided in the report[41] - There are no details on future outlook or performance guidance in the report[41] - The report does not mention any new product or technology development[41] - There are no updates on market expansion or mergers and acquisitions[41] - The report lacks information on other new strategies[41] - The company did not disclose any revenue figures or percentage changes[41] - The report does not provide any comparative data for the previous periods[41] - The first quarter report is the company's initial report for the year 2021[41]

Financial Performance - The company's operating revenue for 2020 was CNY 3,687,175,330.30, a decrease of 9.29% compared to CNY 4,056,150,396.95 in 2019[11] - The net profit attributable to shareholders of the listed company was CNY 445,056,628.43, down 14.31% from CNY 524,740,721.75 in the previous year[11] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 435,235,305.78, a decrease of 13.06% compared to CNY 507,681,168.26 in 2019[11] - The basic earnings per share were CNY 0.1946, down 14.31% from CNY 0.2294 in the previous year[11] - The diluted earnings per share were also CNY 0.1946, reflecting the same decrease of 14.31% compared to CNY 0.2294 in 2019[11] - The weighted average return on net assets was 5.77%, a decline of 1.15% from 6.99% in the previous year[11] - The total revenue for 2020 was approximately CNY 3.687 billion, a decrease of 9.29% compared to CNY 4.065 billion in 2019[27] - The net profit attributable to shareholders was CNY 445.06 million, with earnings per share of CNY 0.1946[25] - The company reported a net profit from its subsidiary Baiyin Thermal Power Co., amounting to ¥51,090,585.78, contributing significantly to the overall performance[55] - The total comprehensive income for 2020 was CNY 398,153,926.27, down from CNY 527,449,115.02 in 2019, reflecting a decrease of 24.48%[192] Cash Flow and Liquidity - The net cash flow from operating activities increased by 37.82% to CNY 638,604,363.13, compared to CNY 463,056,160.73 in 2019[11] - Cash and cash equivalents increased significantly by 2,576.89%, totaling ¥2,825,086,245.05 in 2020, compared to a decrease of ¥114,057,904.78 in 2019[40] - The total cash inflow from investment activities was CNY 951,599,594.70, up from CNY 737,990,242.60 in 2019, representing a growth of 28.8%[196] - The net cash flow from financing activities reached CNY 2,233,836,256.03, a significant recovery from a negative cash flow of CNY -310,585,813.31 in the previous year[197] - The total cash and cash equivalents at the end of 2020 amounted to CNY 5,195,365,907.51, compared to CNY 2,315,350,387.28 at the end of 2019, marking a 124.5% increase[197] Assets and Liabilities - Total assets at the end of 2020 reached ¥13,542,823,754.88, an increase of 23.58% compared to the adjusted total assets of ¥10,958,434,516.46 at the end of 2019[12] - The total liabilities included a new issuance of convertible bonds, which accounted for 17.10% of total liabilities at the end of 2020[42] - The company's fixed assets decreased by 6.38%, from ¥3,346,492,123.50 in 2019 to ¥3,272,565,171.39 in 2020[42] - The asset-liability ratio increased to 36.98%, up 7.96 percentage points from the previous year, due to the increase in total assets from the bond issuance[133] - Total liabilities reached CNY 5,008,806,230.65, compared to CNY 3,180,559,524.37 in the previous year, marking an increase of around 57.4%[181] Investment and Capital Expenditure - The company successfully issued convertible bonds raising CNY 2.8 billion for clean and efficient gasification projects[25] - The total investment amount for the reporting period was ¥81,408,000, a decrease of 66.03% compared to the previous year's investment of ¥239,617,620[44] - The company made a significant equity investment of ¥30,000,000 in Liu Hua Chemical Industry Co., holding a 100% stake, with the investment aimed at long-term chemical product development[44] - The company plans to invest approximately 500 million yuan in research and development for new coal processing technologies in the upcoming fiscal year[142] Operational Performance - The company's coal production in 2020 was 885.62 million tons, an increase of 0.46% year-on-year[29] - The total sales volume of coal in 2020 was 881.53 million tons, a slight decrease of 0.51% compared to 2019[29] - The coal mining sector contributed CNY 2.668 billion, accounting for 72.37% of total revenue, while the power generation sector contributed CNY 1.019 billion, representing 27.63%[27] - The company reported a total coal production of 8.8562 million tons and sales of 8.8153 million tons in 2020[25] - The company achieved a gross margin of 36.81% in the coal mining sector, which improved by 2.96% year-on-year[28] Research and Development - Research and development expenses rose by 41.11% to 6.39 million yuan, reflecting an increase in R&D projects[35] - The company's R&D investment increased by 41.11% year-on-year, amounting to ¥6,392,301.40 in 2020 compared to ¥4,530,056.68 in 2019[38] - The number of R&D personnel decreased by 72.50%, from 40 in 2019 to 11 in 2020, resulting in a R&D personnel ratio of 0.09%[38] Shareholder Returns and Dividends - The company plans to distribute a cash dividend of CNY 1 per 10 shares to all shareholders, based on a total of 2,240,237,261 shares entitled to profit distribution[2] - The cash dividend proposal for 2020 is to distribute 1 yuan (after tax) per 10 shares, totaling 224,023,726.10 yuan, which represents 50.34% of the net profit attributable to ordinary shareholders[63][64] - The company has committed to maintaining a minimum cash dividend ratio of 40% during profit distribution[65] - The total cash dividend distributed was CNY 224,023,726.10, representing 100% of the total profit distribution[65] Corporate Governance and Compliance - The company has engaged Xinyong Zhonghe Accounting Firm for internal control audits, with an audit fee of 350,000 RMB[75] - The company has no significant litigation or arbitration matters during the reporting period[78] - The company has maintained effective internal controls over financial reporting as of December 31, 2020[173] - The audit opinion issued was a standard unqualified opinion, confirming the fair presentation of the financial statements[174] Social Responsibility and Community Engagement - The company emphasizes social responsibility, focusing on employee welfare, shareholder returns, and community contributions[104] - The company has successfully helped 1,383 individuals from 303 registered poor households in five villages achieve poverty alleviation[105] - The company has invested a total of 539.6 million CNY in poverty alleviation efforts, with 1,383 registered impoverished individuals successfully lifted out of poverty[107] - The company provided 3 million CNY in financial aid to support 100 impoverished students[108] Future Outlook and Strategic Initiatives - The company plans to achieve a coal production target of 8.6 million tons in 2021, with a goal of reaching 8.8 million tons, and aims for an electricity generation of 3.05 billion kWh[59] - The company is focusing on expanding its market presence in the renewable energy sector, aiming for a 20% increase in revenue from this segment over the next three years[142] - The management emphasized the importance of sustainable practices, aiming for a 15% reduction in carbon emissions by 2025[145] - The company is actively seeking partnerships with technology firms to innovate in the field of coal utilization and emissions reduction[142]

Financial Performance - Net profit attributable to shareholders of the listed company was ¥105,033,397.57, a decrease of 1.81% year-on-year[3]. - Operating revenue for the reporting period was ¥840,934,789.58, down 4.72% compared to the same period last year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥111,846,917.60, an increase of 11.51% year-on-year[3]. - Basic earnings per share for the reporting period was ¥0.0459, a decrease of 1.92% compared to the same period last year[3]. - The weighted average return on net assets was 1.34%, a decrease of 0.08% year-on-year[3]. - Total operating revenue for Q3 2020 was CNY 840,934,789.58, a decrease from CNY 882,623,946.25 in the same period last year[26]. - Net profit attributable to shareholders was CNY 105,033,397.57, a decrease of 0.9% from CNY 106,972,240.06 in the same period last year[29]. - The total profit for the quarter was CNY 122,850,603.75, down from CNY 134,030,665.25 in the previous year[28]. - Net profit for the period was CNY 382,094,349.34, slightly down from CNY 383,830,183.98 in the previous period, representing a decrease of 0.45%[34]. - The total comprehensive income attributable to the parent company was CNY 381,715,973.49, down from CNY 383,314,802.33 in the previous period[36]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥10,949,311,236.69, an increase of 0.53% compared to the end of the previous year[3]. - Accounts receivable decreased by 36.72% to ¥580,341,152.17 from ¥917,077,583.80 due to improved coal payment collection[9]. - Inventory increased by 62.37% to ¥397,750,154.28 from ¥244,964,440.79, indicating a rise in stock goods[9]. - Other current assets surged by 328.94% to ¥370,003,191.75 from ¥86,260,562.19, attributed to an increase in unexpired financial products[9]. - The total current assets rose to CNY 5,173,713,556.24, compared to CNY 4,965,730,557.67 in the previous year, marking an increase of about 4.2%[19]. - Non-current assets totaled CNY 5,775,597,680.45, down from CNY 5,925,583,663.09, reflecting a decrease of approximately 2.5%[20]. - The total liabilities decreased to CNY 5,173,713,556.24, compared to CNY 5,265,000,000.00 in the previous year, indicating a reduction of approximately 1.7%[20]. - Current liabilities totaled CNY 2,073,625,138.54, down from CNY 2,293,083,781.84 year-over-year, representing a reduction of approximately 9.6%[25]. - Non-current liabilities amounted to CNY 838,415,517.02, an increase from CNY 814,921,701.94, reflecting a growth of about 2.5%[25]. Cash Flow - Net cash flow from operating activities increased significantly by 239.89% to ¥382,768,846.85[3]. - Cash used for the repayment of debts decreased by 36.84% to ¥240,000,000.00 from ¥380,000,000.00, indicating a reduction in short-term bank loan repayments[10]. - Cash inflow from operating activities totaled CNY 2,600,554,275.65, a decrease from CNY 2,678,857,850.25, representing a decline of about 2.9% year-over-year[41]. - The net cash flow from operating activities was CNY 526,264,201.85, an increase from CNY 452,454,222.00, indicating a growth of approximately 16.3% compared to the previous year[41]. - Cash outflow from investing activities was CNY 766,372,896.22, down from CNY 904,229,914.21, showing a decrease of about 15.3% year-over-year[42]. - The net cash flow from investing activities was -CNY 389,348,462.78, an improvement from -CNY 532,569,743.63, indicating a reduction in losses of approximately 26.7%[42]. - Cash inflow from financing activities was CNY 200,000,000.00, slightly down from CNY 210,000,000.00, reflecting a decrease of about 4.8% year-over-year[42]. - The net cash flow from financing activities was -CNY 336,418,220.50, an improvement from -CNY 413,398,160.52, indicating a reduction in losses of approximately 18.7%[42]. - The ending balance of cash and cash equivalents was CNY 2,283,545,272.87, an increase from CNY 2,103,892,986.66, representing a growth of about 8.6% year-over-year[42]. Expenses and Investments - Research and development expenses decreased by 53.44% to ¥1,600,000.00 from ¥3,436,290.24, reflecting reduced project costs[9]. - Financial expenses rose by 39.78% to ¥16,571,674.98 from ¥11,855,339.28, primarily due to increased interest expenses from land reclamation and environmental restoration[9]. - The company reported a 407.04% decline in investment income, resulting in a loss of ¥5,097,389.44 compared to a gain of ¥1,660,170.58 in the previous year[9]. - Research and development expenses increased to CNY 1,600,000.00, compared to CNY 962,869.11 in the previous year, reflecting a focus on innovation[30]. - The company incurred interest expenses of CNY 24,354,104.50, significantly higher than CNY 3,965,118.31 in the same period last year, indicating increased borrowing costs[30]. - Tax expenses decreased to CNY 50,821,337.76 from CNY 70,213,103.43, a reduction of 27.6%[34]. Future Plans - The company has initiated a public offering of convertible bonds to fund the clean and efficient coal-to-gas project, with approval from the China Securities Regulatory Commission[10]. - The company’s subsidiary, Jingtai Coal Industry, has commenced construction on the Baiyanzi coal mine project, following the completion of preliminary procedures[10]. - The company plans to continue focusing on market expansion and technological innovation in the upcoming quarters[30]. - The company plans to focus on market expansion and new product development in the upcoming quarters[35].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,890,595,326.27, representing a decrease of 6.92% compared to the same period last year[9]. - The net profit attributable to shareholders of the listed company was CNY 276,682,575.92, showing a slight increase of 0.12% year-on-year[9]. - Basic earnings per share were CNY 0.1210, reflecting a growth of 0.17% compared to the previous year[9]. - The coal mining segment accounted for 70.95% of total revenue, generating CNY 1,341.37 million, a decrease of 16.13% year-on-year[19]. - The thermal power generation segment contributed CNY 549.23 million, representing 29.05% of total revenue, with a year-on-year increase of 27.20%[19]. - The company reported a total of CNY 912,251,399.16 in payable employee compensation, slightly up from CNY 897,462,763.19[88]. - The total comprehensive income for the period amounted to 276,342,562.27 CNY, reflecting a significant increase compared to the previous period[108]. Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly by 57.78%, amounting to CNY 143,495,355.00[9]. - Cash flow from operating activities decreased by 57.78% to CNY 143.50 million, down from CNY 339.84 million in the previous year[17]. - The company reported a net cash outflow from investing activities of CNY 355.47 million, a slight increase of 2.05% compared to the previous year[18]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,940,340,535.74, accounting for 17.94% of total assets, a decrease of 3.70% compared to the previous year[22]. - The company reported a total cash inflow from investment activities of CNY 374,676,317.35, compared to CNY 371,660,170.58 in the same period of 2019[100]. - The total cash and cash equivalents at the end of the period stood at 1,762,880,211.49 yuan, down from 1,970,872,056.10 yuan at the end of the previous year[103]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,818,093,985.40, a decrease of 0.67% from the end of the previous year[9]. - The company's total liabilities decreased to CNY 2,920,242,637.88 from CNY 3,108,005,483.78, a decline of approximately 6.1%[88]. - The company's equity attributable to shareholders rose to CNY 7,774,826,111.10 from CNY 7,606,940,840.51, an increase of about 2.2%[89]. - The company's total equity at the end of the reporting period was 7,466,395,438.22 CNY[115]. Operational Activities - In the first half of 2020, the company produced 4.38 million tons of coal and sold 4.38 million tons, with a power generation of 1.767 billion kWh and a heating supply of 3.365 million GJ[16]. - The company established a new subsidiary, Jinyuan Coal Industry Group Liu Hua Chemical Co., Ltd., to invest in a clean and efficient gasification project[12]. - The company is promoting project construction in its subsidiary, Jingtai Coal Industry Co., Ltd., to expand its operational capacity[30]. Risks and Challenges - The company faced risks in its operations, which are discussed in detail in the report[2]. - The company predicts a significant change in net profit for the period from January to September 2020, potentially resulting in a loss compared to the same period last year[32]. - The company faces risks from macroeconomic fluctuations and coal industry volatility, influenced by the ongoing COVID-19 pandemic and global economic downturn[32]. Environmental and Social Responsibility - The company emphasizes strict adherence to safety and environmental regulations in its operations, particularly in the high-risk coal and power industries[32]. - The company has committed to enhancing its environmental management and integrating safety and environmental work into regular management practices[32]. - The company has actively engaged in poverty alleviation efforts, focusing on targeted strategies to meet the "two no worries, three guarantees" goals[66]. - The company has helped 1,383 registered impoverished individuals, with 301 households and 1,377 individuals successfully lifted out of poverty as of mid-2020[68]. Related Party Transactions - The company reported a total of 5,689.34 million CNY in daily related transactions during the reporting period, which did not exceed the expected amount[45]. - The company utilized market pricing for all related transactions, ensuring compliance with pricing principles[41]. - The company has not exceeded the approved transaction limits in any of the reported related transactions[41]. Shareholder Information - The company has a total of 2,286,971,050 shares outstanding, with 99.86% being unrestricted shares[75]. - The total number of ordinary shareholders at the end of the reporting period was 42,614, with the largest shareholder, Jingyuan Coal Industry Group, holding 46.42% of the shares[76]. - There were no changes in the controlling shareholder or actual controller during the reporting period[81]. Accounting and Financial Reporting - The company's financial statements are prepared based on the going concern principle, with no significant doubts about its ability to continue operations for the next 12 months[125]. - The company has not made any significant changes to accounting estimates in the current reporting period[190]. - The company has adopted the new revenue recognition standard effective January 1, 2020, with no impact on the opening balance sheet[189].

Financial Performance - The company's operating revenue for 2019 was CNY 4,056,150,396.95, a decrease of 0.88% compared to 2018[13]. - The net profit attributable to shareholders for 2019 was CNY 524,740,721.75, down 8.39% from the previous year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 507,681,168.26, a decrease of 6.34% year-on-year[13]. - The net cash flow from operating activities was CNY 463,056,160.73, reflecting a decline of 11.97% compared to 2018[13]. - Basic earnings per share for 2019 were CNY 0.2294, down 8.42% from CNY 0.2505 in 2018[13]. - The weighted average return on net assets was 6.99%, a decrease from 8.11% in the previous year[13]. - Total assets increased to ¥10,891,314,220.76, representing a growth of 6.38% compared to the previous year[14]. - The company reported a year-on-year increase in inventory levels, indicating potential challenges in sales and market demand[31]. - The total operating revenue was CNY 4,056,150,396.95, a decrease of 0.88% year-on-year[29]. - The mining sector contributed 76.63% to the total revenue, while the thermal power sector contributed 23.37%[29]. - The company's gross margin in the coal segment decreased by 1.20% compared to the previous year[30]. - The company reported a total revenue of 37,453 million CNY for the year 2019, with a significant increase in operational maintenance and cleaning fees by 38.18% compared to the previous year[97]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 1 per 10 shares to all shareholders, based on a total share capital of 2,286,971,050 shares[4]. - The cash dividend for 2019 represents 43.58% of the net profit attributable to shareholders, which is 524,740,721.75 yuan[77]. - The total distributable profit for 2019 is 2,261,026,675.83 yuan, with the cash dividend accounting for 100% of the profit distribution[79]. - The company has maintained a consistent cash dividend distribution of 1 yuan per 10 shares for the past three years, with the same amount proposed for 2019[76]. - The cash dividend payout ratio has increased from 39.93% in 2018 to 43.58% in 2019, reflecting improved profitability[77]. - The total number of shares for the dividend distribution is based on 2,286,971,050 shares[78]. Operational Highlights - The company produced 8,815,600 tons of coal and sold 8,860,700 tons during the reporting period[27]. - The company achieved a record of zero work-related fatalities in 2019, marking the best safety record in 61 years[27]. - The company is actively promoting the development of its subsidiary, Jingtai Coal Industry, which has obtained mining rights and is pushing for project commencement[20]. - The company is adapting to industry pressures by optimizing its production structure and implementing green development tasks[23]. - The company reported coal reserves of 606,292,800 tons and recoverable reserves of 394,411,000 tons as of the end of 2019[24]. - The company has initiated a public offering of convertible bonds to fund clean and efficient gasification projects[27]. Investments and Acquisitions - The company acquired 60% of the equity in Jingtai Coal Industry Co., making it a subsidiary, and also acquired 100% of the equity in Xingan Company, making it a wholly-owned subsidiary[35]. - The company completed the acquisition of 60% equity in Jingtai Coal Industry, enhancing its control over the subsidiary and promoting sustainable development in the coal sector[70]. - The company plans to initiate the acquisition of shares in other coal mining projects once they meet specific regulatory and operational conditions within one year[82]. - The company has committed to not engaging in any competing business activities with its controlling group after the completion of a major asset restructuring[82]. Environmental and Social Responsibility - The company has committed to environmental protection, implementing measures to ensure compliance with national environmental standards[119]. - The company has implemented a poverty alleviation program, helping 243 out of 307 registered poor households in five villages to escape poverty by the end of 2019[121]. - The company has organized winter heating coal donations to ensure that impoverished households can stay warm during the winter[121]. - The company has actively engaged in consumer assistance initiatives, promoting the purchase of local products to help impoverished households find markets for their goods[121]. - The company’s subsidiary, Baiyin Thermal Power, reported emissions of 33.5 tons/year of smoke dust, 253.5 tons/year of sulfur dioxide, and 625.5 tons/year of nitrogen oxides, all within regulatory limits[126]. Governance and Management - The company has established a comprehensive governance structure, including rules for shareholder meetings, board meetings, and information disclosure management[160]. - The company has a total of 9 board members, including the chairman and general manager, who have been in their positions since 2015 and 2017 respectively[153]. - The company has a structured approach to performance assessment for its executives, which influences their remuneration[154]. - The company has maintained a stable leadership team with a focus on operational efficiency and compliance with provincial regulations[154]. - The company has not engaged in any entrusted loans during the reporting period, indicating a conservative financial management approach[115]. Future Outlook - The company projects a revenue growth of 12% for the upcoming fiscal year, driven by increased demand in the energy sector[148]. - The company plans to expand its market presence by entering two new provinces in China by the end of 2020[146]. - The company aims to increase its export volume by 25% in response to rising international demand for coal[146]. - Future guidance suggests a revenue target of 3.5 billion CNY for 2020, reflecting a 16.67% growth expectation[150]. - The company is investing 200 million CNY in R&D for new mining technologies in the upcoming fiscal year[151].