Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 192.97 billion, a decrease of RMB 27.61 billion (12.5%) compared to 2022[1]. - Profit attributable to shareholders for 2023 was RMB 20.18 billion, an increase of RMB 0.45 billion (2.3%) from 2022[1]. - Basic earnings per share for 2023 were RMB 1.52, up RMB 0.03 from 2022[3]. - EBITDA for 2023 was RMB 44.75 billion, an increase of RMB 0.86 billion (2.0%) compared to the previous year[1]. - Gross profit for the year was RMB 41.58 billion, down from RMB 49.60 billion in 2022[2]. - Operating profit for 2023 was RMB 33.51 billion, slightly up from RMB 33.30 billion in 2022[2]. - Total revenue for 2023 was RMB 192,968,833 thousand, down 12.5% from RMB 220,576,859 thousand in 2022[21]. - The company reported a total of RMB 206,932,832 thousand in segment revenue for 2023, down from RMB 234,196,814 thousand in 2022[24]. - The total comprehensive income for the year 2022 reached RMB 27,825,807 thousand, up from RMB 27,804,821 thousand prior to the revision[12]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 349.16 billion, an increase from RMB 339.73 billion in 2022[4]. - Non-current assets totaled RMB 229.49 billion, up from RMB 215.82 billion in the previous year[4]. - Current assets decreased to RMB 119.67 billion from RMB 123.91 billion in 2022[4]. - Total liabilities decreased from RMB 174,841,441 thousand in 2022 to RMB 166,631,766 thousand in 2023, a reduction of approximately 4.3%[5]. - Total equity increased from RMB 164,888,788 thousand in 2022 to RMB 182,523,561 thousand in 2023, representing a growth of about 10.7%[5]. - Current liabilities totaled RMB 98,157,965 thousand in 2023, down from RMB 104,998,190 thousand in 2022, indicating a decrease of approximately 6.5%[5]. - Non-current liabilities amounted to RMB 68,473,801 thousand in 2023, slightly down from RMB 69,843,251 thousand in 2022, a decrease of about 2.0%[5]. - The retained earnings rose from RMB 64,804,080 thousand in 2022 to RMB 77,280,846 thousand in 2023, marking an increase of about 19.2%[5]. Dividends - The board proposed a final dividend of RMB 0.442 per share for 2023, subject to approval at the annual general meeting[1]. - The proposed final dividend for the year ended December 31, 2023, is approximately RMB 5,860,215,000, subject to approval at the annual general meeting[33]. - The company distributed a cash dividend of 5,472,160,500 CNY, which is 30% of the net profit attributable to shareholders of 18,240,535,000 CNY for the year 2022, resulting in a distribution of 0.413 CNY per share[145]. - The company proposed a cash dividend of 5,860,214,700 CNY, which is 30% of the net profit attributable to shareholders of 19,534,049,000 CNY for the year ending December 31, 2023, resulting in a distribution of 0.442 CNY per share[147]. Market Performance - Domestic market revenue for 2023 was RMB 190,834,157 thousand, a decrease of 12.7% from RMB 218,536,929 thousand in 2022[19]. - The overseas market revenue for 2023 was RMB 2,134,676 thousand, slightly up from RMB 2,039,930 thousand in 2022[19]. - The coal segment remains a primary focus, encompassing production and sales of coal, while the coal chemical segment also contributes significantly to overall performance[15]. - The coal business revenue fell by 14.8% to CNY 1,626.81 billion, with self-produced coal sales down 6.4% to CNY 806.19 billion and purchased trade coal sales down 21.7% to CNY 814.88 billion[75]. Production and Sales - The company produced 134.22 million tons of self-produced commercial coal, an increase of 15.05 million tons or 12.6% year-on-year, and sold 133.91 million tons, up 13.57 million tons or 11.3% year-on-year[59]. - The total sales volume of self-produced coal reached 13,391,000 tons, an increase of 11.3% compared to 12,034,000 tons in 2022, while the average selling price decreased by 15.9% to 602 RMB/ton from 716 RMB/ton[76]. - The total coal sales volume reached 284.94 million tons, with self-produced coal sales increasing by 11.3% to 133.91 million tons[125]. - The company achieved a total coal production of 134.22 million tons, an increase of 15.05 million tons year-on-year, despite a decline in the average selling price of self-produced coal[64]. Financial Management - The company incurred interest expenses of RMB 2,381,979 thousand, while interest income was reported at RMB 570,066 thousand, resulting in a net interest expense of RMB 1,811,913 thousand[17]. - Interest expenses decreased to RMB 3,099,916,000 in 2023 from RMB 3,863,142,000 in 2022, a reduction of about 19.8%[27]. - The net financial expenses for 2023 were RMB 2,994,925,000, a decrease of approximately 19.7% from RMB 3,728,007,000 in 2022[27]. - The company capitalized financial expenses at a rate of 3.42%-4.73% for 2023, compared to 3.45%-4.89% in 2022[27]. Strategic Initiatives - The company has plans for market expansion and new product development, although specific figures and timelines were not disclosed during the call[17]. - The company aims to enhance its core competitiveness and innovation capabilities while focusing on green and low-carbon transformation[63]. - The company is focusing on the clean and efficient transformation of coal, developing modern coal chemical industries such as coal-to-olefins and coal-to-urea[136]. - The company is committed to improving operational efficiency and reducing costs, with a focus on centralized management of finance, investment, and procurement[138]. Corporate Governance - The company is committed to improving corporate governance and has adhered to the corporate governance code as of December 31, 2023[146]. - Ernst & Young has been appointed as the auditor for the financial statements prepared in accordance with international financial reporting standards, providing an unqualified opinion[150]. - The annual report for 2023 will be disclosed on the company's website and the Stock Exchange website by April 30, 2024[150]. Employee and Workforce - The company has a workforce of 47,122 employees as of December 31, 2023, an increase from 46,450 employees in 2022[146]. - Employee costs increased by 10.4% to 737.4 million RMB, driven by higher workforce expenses[79].
中煤能源(01898) - 2023 - 年度业绩