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山西焦煤(000983) - 2015 Q1 - 季度业绩预告
2015-04-14 16:00
Financial Performance - The net profit attributable to shareholders is expected to decline by 60% to 70%, with estimated earnings between 71.04 million and 94.72 million RMB, compared to 236.81 million RMB in the same period last year[1]. - The performance decline is primarily due to the ongoing downturn in the coal industry and related sectors such as steel and coking, exacerbated by structural overcapacity in the coal industry[1]. - The company anticipates continued decreases in coal market prices and a reduction in sales volume for certain coal types, alongside increased financial expenses, leading to a significant year-on-year performance drop[1].
山西焦煤(000983) - 2014 Q4 - 年度财报
2015-04-06 16:00
Financial Performance - The company achieved operating revenue of CNY 24.39 billion in 2014, a decrease of 17.32% compared to 2013[21]. - Net profit attributable to shareholders was CNY 273.2 million, down 74.13% year-on-year[21]. - Basic earnings per share were CNY 0.0867, reflecting a 74.13% decline from the previous year[21]. - The company recorded a government subsidy of CNY 26.45 million, down from CNY 48.02 million in 2013[23]. - The average selling price of various coal types decreased significantly in 2014, with the overall average selling price of commodity coal dropping by 19.90% to 463.13 yuan/ton compared to 578.17 yuan/ton in 2013[29]. - The company's total operating revenue for 2014 was 2,439,092,000 yuan, a decrease of 17.32% from 2,950,013,000 yuan in the previous year[35]. - The company reported a total profit of 79,444,920.41 CNY for 2014, with a cash dividend distribution of 9,453,600 CNY, representing 3.46% of the net profit attributable to shareholders[86]. Shareholder Information - The company plans to distribute a cash dividend of 0.03 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2014[5]. - As of the end of 2014, Shanxi Coal Group held 54.40% of the company's shares, making it the largest shareholder[18]. - The registered capital of Shanxi Coal Group, the controlling shareholder, is 397,172 million RMB[18]. - The largest shareholder, Shanxi Coking Coal Group Co., Ltd., holds 54.40% of the shares, totaling 1,714,215,108 shares[134]. - The company had a total of 229,801 common stock shareholders at the end of the reporting period[134]. Operational Highlights - The production of raw coal decreased by 5.12% to 27.96 million tons in 2014[28]. - The sales volume of commodity coal fell by 5.32% to 26.86 million tons[28]. - The company produced 2,796,000 tons of raw coal in 2014, which was 8.79% lower than the 2,947,000 tons produced in 2013[36]. - The electricity generation for 2014 was 146 billion kWh, a decrease of 8.36% from 159 billion kWh in 2013[37]. - The company achieved a profit increase in its coking segment, despite the overall industry facing losses due to falling prices[30]. Financial Position - Total assets increased by 4.41% to CNY 48.20 billion at the end of 2014[21]. - The total operating cost was CNY 17,471,714,132.4, which was 38.64% higher than the previous year[48]. - The company's financial expenses increased by 9.83% to CNY 105,563,000 compared to the previous year[42]. - The total assets at the end of 2014 were CNY 48,300,000,000, with cash and cash equivalents increasing by 6.34% to CNY 3,053,388,439[50]. - The total liabilities increased to ¥29.49 billion from ¥27.35 billion, an increase of about 7.8%[197]. Strategic Initiatives - The company plans to continue focusing on production stability and operational efficiency amid challenging market conditions[28]. - The company has plans for further expansion in the coal-electricity integration sector, leveraging supportive government policies[30]. - The company aims to enhance its core competitiveness by focusing on safety, development, and livelihood while pursuing quality and efficiency[74]. - The company is focusing on expanding its market presence and enhancing its technological capabilities in the energy sector[70]. - The company is committed to developing new energy technologies and improving operational efficiency[70]. Governance and Management - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the integrity of the annual report[4]. - The company has a clear governance structure with defined roles for its board members and senior management, ensuring accountability[146]. - The board of directors has 11 members, including 4 independent directors, exceeding one-third of the total board[162]. - The company has established a performance evaluation and compensation system for senior management, focusing on production, safety, operational performance, and capital preservation[175]. - The independent directors actively participated in board meetings and provided constructive opinions on major decisions, ensuring the rationality and scientific nature of board decisions[169]. Audit and Compliance - The accounting firm responsible for the audit is Lixin Certified Public Accountants[19]. - The company received a standard unqualified audit opinion for its financial statements, affirming compliance with accounting standards[188]. - The internal control audit report confirms that the company maintained effective internal controls as of December 31, 2014[183]. - The company has implemented a system for accountability regarding significant errors in annual report disclosures, enhancing transparency and accuracy[184]. - The company did not implement any equity incentive plans during the reporting period[171]. Market Conditions - The coal industry is facing a severe situation with overcapacity and declining demand, leading to a forecast of continued pressure on coal prices and sales[73]. - The company anticipates that the coal market will remain under pressure due to economic slowdown and competition from alternative energy sources[75]. - The company will adjust its operational strategies to maintain market share and reduce transportation costs[75]. - The company has not reported any changes in its main business since its listing[18]. - The company has not made any significant accounting errors that require retrospective restatement during the reporting period[82].
山西焦煤(000983) - 2014 Q4 - 年度业绩预告
2015-01-29 16:00
Financial Performance - The company's net profit attributable to shareholders is expected to decline by 70% to 80%, with estimated earnings between RMB 21,139 million and RMB 31,708 million, compared to RMB 105,694 million in the same period last year [2]. - The decline in performance is primarily due to the ongoing downturn in the coal industry and related sectors such as steel and coking, exacerbated by structural overcapacity in the coal industry [2]. - The coal market prices continued to decrease throughout 2014, alongside a reduction in sales volume for certain coal types and an increase in financial expenses, leading to a significant year-on-year decline in performance [2]. - The performance forecast has not been audited by a registered accountant, indicating preliminary estimates from the company's financial department [2]. Investment Risks - The company advises investors to be cautious regarding investment risks due to the volatile market conditions [2].
山西焦煤(000983) - 2014 Q3 - 季度财报
2014-10-27 16:00
Financial Performance - Operating revenue for the period was ¥5.93 billion, down 14.14% compared to the same period last year[7] - Net profit attributable to shareholders was a loss of ¥30.30 million, a decrease of 144.96% year-over-year[7] - Net profit excluding non-recurring items was a loss of ¥35.22 million, down 154.58% from the previous year[7] - Basic earnings per share were -¥0.0096, a decline of 144.86% compared to the same period last year[7] - The weighted average return on equity was -0.18%, down from 1.73% in the previous year[7] - The company's net profit for Q3 2014 was CNY 38,144 million, a decrease of 67.17% compared to CNY 116,185 million in the same period last year[20] - Operating profit fell to CNY 45,264 million, down 70.33% from CNY 152,567 million, primarily due to a decline in coal sales prices[20] - Total profit decreased by 69.52% to CNY 47,023 million from CNY 154,269 million, attributed to lower coal sales prices[20] - The company’s investment income decreased by 33.94% to CNY 2,788 million, mainly due to reduced investment income from subsidiaries[20] Assets and Liabilities - Total assets increased to ¥51.51 billion, up 11.58% from the previous year[7] - Net assets attributable to shareholders rose to ¥16.56 billion, a 3.38% increase year-over-year[7] - Cash flow from operating activities decreased by 45.75% to ¥1.33 billion year-to-date[7] - The company's cash and cash equivalents increased to ¥688,550 million, up by ¥401,952 million or 140.25% compared to the beginning of the year, primarily due to the issuance of bonds and an increase in short-term and long-term borrowings[19] - The company reported an increase in accounts receivable by 64.52%, reaching CNY 439,281 million, mainly due to increased coal receivables[20] - The company's financial liabilities increased significantly, with interest payable rising by 311.15% to CNY 17,607 million due to new long-term borrowings and bond issuances[20] - Prepayments increased by 38.22% to CNY 100,352 million, primarily due to increased prepaid transportation and port fees[20] - The company’s accounts payable increased by 77.07% to CNY 144,297 million, driven by increased payables from subsidiaries[20] Shareholder Information - The total number of shareholders at the end of the reporting period was 242,677[12] - The largest shareholder, Shanxi Coking Coal Group, holds 54.40% of the shares[12] - The top ten unrestricted ordinary shareholders include Shanxi Coking Coal Group Co., Ltd. with 1,714,215,108 shares, accounting for a significant portion of the company's equity[13] - The company did not engage in any repurchase transactions among its top ten ordinary shareholders during the reporting period[13] Accounting Policies and Compliance - The company adjusted its accounting policy for long-term equity investments, resulting in a reclassification of certain investments without impacting the current year's net profit[16] - The company has made adjustments to its financial statement formats in accordance with the new accounting standards[18] - There were no significant impacts from the newly issued and revised accounting standards on the company's financial statements for the current and prior periods[18] - The company’s financial reporting reflects compliance with the revised accounting standards, ensuring accurate representation of its financial position[18] - The company has not lost joint control or significant influence over any of its investees during the reporting period[17]
山西焦煤(000983) - 2014 Q2 - 季度财报
2014-07-28 16:00
Financial Performance - The company's operating revenue for the first half of 2014 was ¥12,252,715,839.82, a decrease of 19.79% compared to ¥15,275,195,170.11 in the same period last year[19]. - The net profit attributable to shareholders was ¥372,926,778.65, down 58.30% from ¥894,287,666.97 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥365,973,312.55, reflecting a decline of 58.63% compared to ¥884,552,211.60 in the previous year[19]. - The basic earnings per share decreased to ¥0.1183, down 58.32% from ¥0.2838 in the same period last year[19]. - The company reported a revenue of CNY 12.25 billion for the first half of 2014, a decrease of 19.79% compared to the same period last year[25]. - Net profit attributable to the parent company was CNY 373 million, down 58.30% year-on-year, with earnings per share at CNY 0.1183[25]. - The company reported a total revenue of 4,388,669,300 for the first half of 2014, with a net profit of -744,872,270, indicating a significant loss compared to the previous period[50]. - The company’s subsidiary, Shanxi Xishan Coal and Electricity Co., Ltd., achieved a revenue of 1,718,460,000, but also reported a loss of 744,872,270 during the same period[50]. - The company’s subsidiary, Shanxi Coking Coal Group Co., Ltd., reported a revenue of 9,296,504,900, with a net profit of 2,832,417,000[50]. Assets and Liabilities - The total assets at the end of the reporting period were ¥47,030,826,557.95, an increase of 1.88% from ¥46,162,167,690.29 at the end of the previous year[19]. - The total assets of the company at the end of the reporting period amount to 6,485,919,000.00 CNY, reflecting a significant increase compared to the previous year[127]. - The total liabilities decreased to RMB 14,441,552,634.77 from RMB 15,000,000,000, showing a reduction of approximately 3.71%[99]. - The total liabilities of the company at the end of the reporting period are not explicitly stated but are implied to be lower than total assets, indicating a healthy balance sheet[128]. Cash Flow - The net cash flow from operating activities was ¥1,544,687,881.26, a slight decrease of 1.28% compared to ¥1,564,762,480.25 in the same period last year[19]. - The company achieved a cash flow from operating activities of CNY 1.54 billion, a slight decrease of 1.28% year-on-year[32]. - Cash flow from investing activities resulted in a net outflow of CNY 752,544,740.96, compared to a net outflow of CNY 652,272,019.70 previously[113]. - Cash flow from financing activities showed a net outflow of CNY 515,421,856.81, improving from a net outflow of CNY 1,228,088,429.91 in the previous period[113]. Investments and Expenses - Research and development expenses were CNY 99.72 million, a decrease of 2.53% compared to CNY 102.31 million in the previous year[32]. - The company’s investment in external equity was CNY 78.4 million, a significant decrease of 89.55% from CNY 750 million in the previous year[38]. - The company reported an investment income of CNY 13,504,735.96, up from CNY 12,196,585.51, showing an increase of 10.7%[106]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[5]. - The company’s cash dividend policy was approved, distributing 0.10 RMB per 10 shares to shareholders, based on a total share capital of 315,120,000 shares[53]. - The total number of ordinary shareholders at the end of the reporting period is 247,585[84]. - The largest shareholder, Shanxi Coking Coal Group Co., Ltd., holds 54.40% of the shares, totaling 1,714,215,108 shares[85]. Compliance and Governance - The company maintains compliance with corporate governance standards as per the Company Law and relevant regulations[58]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[87]. - There were no penalties or rectifications during the reporting period[77]. Operational Performance - Coal production for the first half of 2014 was 13.69 million tons, a decrease of 10.64% from 15.32 million tons in the same period of 2013[26]. - The average selling price of commodity coal decreased by 18.07% to CNY 495.68 per ton compared to CNY 604.99 per ton in the previous year[31]. - The company completed 45.1% of its annual coal production target of 30.36 million tons by the end of the reporting period[34]. - The company’s total sales volume of commodity coal was 12.83 million tons, down 10.53% from 14.34 million tons in the same period last year[26]. Related Party Transactions - The company engaged in significant related party transactions, with a total of 41,507.53 million yuan from engineering services[62]. - The company engaged in transactions with its parent company, with total purchases of equipment at a market price of 10,061.71 million CNY[64]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance and the China Securities Regulatory Commission, ensuring the financial statements reflect a true and complete picture of its financial status[131]. - The company’s financial statements are prepared on a consolidated basis, including all subsidiaries, with adjustments made for any discrepancies in accounting policies or periods[139]. - The company recognizes cash and cash equivalents in the cash flow statement, including cash on hand and deposits that can be used for payments at any time[144].
山西焦煤(000983) - 2014 Q1 - 季度财报
2014-04-27 16:00
Financial Performance - The company's operating revenue for Q1 2014 was ¥6,325,748,075.92, a decrease of 17.52% compared to ¥7,669,885,039.21 in the same period last year[8] - The net profit attributable to shareholders was ¥236,807,558.19, down 56.33% from ¥542,287,853.38 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥228,949,911.91, reflecting a decline of 57.33% compared to ¥536,518,799.40 in the previous year[8] - Basic earnings per share decreased by 56.36% to ¥0.0751 from ¥0.1721 year-on-year[8] - Total profit decreased by 58.31% to 34,858,000 CNY from 83,620,000 CNY year-on-year, mainly due to a decline in coal prices and reduced sales volume[19] - Net profit attributable to the parent company decreased by 56.33% to 23,681,000 CNY from 54,229,000 CNY year-on-year, influenced by the decline in total profit[19] Cash Flow - The net cash flow from operating activities increased by 54.84% to ¥446,588,454.91, up from ¥288,420,165.31 in the same period last year[8] - Cash flow from operating activities increased by 54.84% to 44,659,000 CNY from 28,842,000 CNY year-on-year, due to a greater decline in cash payments compared to cash receipts[20] - Cash flow from investing activities decreased by 27.89% to -36,617,000 CNY from -28,631,000 CNY year-on-year, due to increased cash payments for fixed assets[20] - Cash flow from financing activities decreased by 369.38% to -32,242,000 CNY from 11,969,000 CNY year-on-year, primarily due to increased cash payments for debt repayment[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥46,225,311,813.43, a slight increase of 0.14% from ¥46,162,167,690.29 at the end of the previous year[8] - The net assets attributable to shareholders increased by 2.16% to ¥16,366,744,044.64 from ¥16,020,724,005.43 at the end of the last year[8] - Accounts receivable increased by 71.8% to 458,699,000 CNY from 267,000,000 CNY at the beginning of the year, primarily due to increased coal receivables[17] - Prepayments increased by 58.92% to 84,299,000 CNY from 53,044,000 CNY at the beginning of the year, mainly due to increased prepayments for coal[18] - Interest payable increased by 103.94% to 7,717,000 CNY from 3,784,000 CNY at the beginning of the year, primarily due to accrued bond interest[18] - Other current assets decreased by 50.28% to 7,028,000 CNY from 14,136,000 CNY at the beginning of the year, mainly due to a reduction in tax credits[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 253,400[12] - The largest shareholder, Shanxi Coking Coal Group Co., Ltd., holds 54.4% of the shares, totaling 1,714,215,108 shares[12] Legal Matters - The company is currently involved in a legal case regarding debt claims, with ongoing developments related to asset evaluations and auctions[21] Non-Operating Income - The company reported non-operating income of ¥7,298,032.68, primarily from safety fines and asset evaluations[9]
山西焦煤(000983) - 2013 Q4 - 年度财报
2014-03-31 16:00
Financial Performance - The company achieved operating revenue of CNY 29.5 billion in 2013, a decrease of 5.54% compared to 2012[30]. - Net profit attributable to shareholders was CNY 1.056 billion, down 41.66% year-on-year[30]. - Basic earnings per share were CNY 0.3352, reflecting a decline of 41.65% from the previous year[30]. - Total profit decreased to CNY 168,164,000, down 40.13% year-on-year, primarily due to a significant drop in coal prices[39]. - The company reported a net profit of CNY 105,616,000, a decline of 41.66% from the previous year[39]. - The company's net profit margin for 2013 was 2.98%, down from 6.27% in 2012 and 22.39% in 2011[86]. - The total revenue for Shanxi Xishan Coal and Electricity Co., Ltd. in 2013 was CNY 28.75 billion, representing a year-on-year increase of 27.87%[58]. - The company reported a total cash inflow from operating activities of CNY 24,273,553,706.00, down from CNY 27,523,021,384.23, a decline of about 11.5% year-over-year[174]. Shareholder Information - The company plans to distribute a cash dividend of RMB 0.10 per 10 shares to all shareholders based on the total share capital as of December 31, 2013[6]. - As of the end of 2013, Shanxi Coal Group held 54.40% of the company's shares, making it the largest shareholder[19]. - The company has maintained a consistent total share capital of 315,120,000 shares over the past three years[84]. - The company’s cash dividend policy is compliant with its articles of association and shareholder resolutions[83]. - The total number of shareholders at the end of the reporting period was 260,940, an increase from 253,914 five trading days prior[109]. Business Operations - The company has not changed its main business since its establishment, which remains focused on coal and electricity production[19]. - The company produced 29.47 million tons of raw coal, an increase of 5.48% compared to 2012[31]. - The sales volume of commodity coal reached 28.37 million tons, up 11.52% year-on-year[31]. - Power generation increased significantly, with production reaching 15.919 billion kWh, a year-on-year increase of 28.23%[42]. - The company is involved in various sectors including power generation, coal mining, and manufacturing, indicating a diversified business strategy[74]. Financial Management - The company emphasizes the importance of accurate financial reporting and has declared the financial report to be true, accurate, and complete[5]. - The company has engaged Lixin Accounting Firm for auditing services during the reporting period[20]. - The company received a standard unqualified audit opinion for its financial statements for the year ended December 31, 2013, confirming compliance with accounting standards[155][158]. - The internal control system is deemed effective, with no major deficiencies reported as of December 31, 2013, ensuring the accuracy and integrity of financial reporting[146][149]. Risk Management - The company has outlined potential future risks and strategies in its board report, urging investors to be aware of investment risks[12]. - The company faces risks related to safety, market fluctuations, rising costs, and investment, and plans to implement measures to mitigate these risks[79][80][81]. - The company emphasizes the importance of strategic investment and risk management to avoid blind investments and enhance overall efficiency[81]. Employee Information - The total number of employees as of December 31, 2013, is 29,387, with 6,228 in subsidiaries[126]. - Production personnel account for 66.16% of the workforce, totaling 19,443 employees[126]. - The company has implemented a performance-based salary system for some supervisors and senior management[123]. Corporate Governance - The company has a governance structure consisting of a shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and effective checks and balances[132]. - The board of directors has 11 members, including 4 independent directors, exceeding one-third of the total board members[132]. - The independent directors actively participated in board meetings, with no objections raised against company matters during the reporting period[135]. Strategic Development - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[29]. - The company aims to enhance its core competitiveness through a focus on safety, development, and livelihood, while pursuing a circular economy model of "coal-electricity-materials" and "coal-coke-chemicals"[78]. - The company is focusing on new energy technology development and investment management, reflecting a strategic shift towards sustainable practices[74].