Financial Performance - Operating revenue for Q1 2024 was RMB 45,394,500, a decrease of 23.3% compared to the same period last year[2]. - Net profit attributable to shareholders for Q1 2024 was RMB 4,969,520, down 30.5% year-on-year[2]. - Net cash flow from operating activities for Q1 2024 was RMB 3,405,180, a significant decline of 69.3% compared to the previous year[2]. - The weighted average return on equity for Q1 2024 was 3.38%, a decrease of 1.94 percentage points from the previous year[2]. - The investment income fell by 54.8% to 444.478 million RMB due to reduced profits from associated companies[9]. - The weighted average return on net assets decreased by 36.5%[8]. Production and Sales - The production of commercial coal in Q1 2024 was 3,273 million tons, a decrease of 1.7% from 3,330 million tons in Q1 2023[5]. - The sales volume of commercial coal in Q1 2024 was 6,387 million tons, down 14.6% from 7,477 million tons in the same period last year[5]. - The production of urea in Q1 2024 was 47.5 million tons, slightly down by 0.8% from 47.9 million tons in Q1 2023[5]. - The production of methanol in Q1 2024 was 41.2 million tons, a decrease of 17.4% compared to 49.9 million tons in Q1 2023[5]. - The sales volume of self-produced coal was 3,231 million tons, down 0.8% year-on-year, with an average selling price of 598 RMB/ton, a decrease of 10.9%[11]. - The sales volume of polyethylene was 1.91 million tons, with a price of RMB 7,182 per ton, showing a 3.8% increase in volume but a 1.0% decrease in price compared to Q1 2023[15]. - The sales volume of urea decreased by 9.4% to 5.51 million tons, with a price drop of 17.7% to RMB 2,237 per ton compared to the same period last year[15]. - The sales volume of methanol fell by 21.9% to 3.96 million tons, with a price decrease of 8.6% to RMB 1,675 per ton compared to Q1 2023[15]. Costs and Profitability - Coal business revenue for Q1 was 37.483 billion RMB, a decrease of 26.1% from 50.744 billion RMB in the same period last year[10]. - The gross profit from coal business was 10.127 billion RMB, down 23.5% from 13.232 billion RMB year-on-year[10]. - The unit sales cost of self-produced coal increased by 6.8% to 290.97 RMB/ton, driven by higher material and labor costs[14]. - The unit sales cost of polyolefins decreased by 5.8% to RMB 5,899 per ton in Q1 2024, compared to RMB 6,262 per ton in Q1 2023[16]. - The unit sales cost of urea decreased by 15.0% to RMB 1,561 per ton in Q1 2024, down from RMB 1,837 per ton in Q1 2023[16]. Assets and Equity - Total assets at the end of Q1 2024 were RMB 351,793,888, reflecting a 0.7% increase from the end of the previous year[2]. - The total equity attributable to shareholders at the end of Q1 2024 was RMB 149,762,696, an increase of 3.9% from RMB 144,121,015 at the end of the previous year[2]. Shareholder Information - The total number of ordinary shareholders as of March 31, 2024, was 91,795, with the largest shareholder, China Coal Energy Group, holding 57.38% of the shares[17]. - China Coal Energy Group increased its holdings by 500,000 A-shares, representing approximately 0.0038% of the total share capital[20]. - As of March 31, 2024, China Coal Energy Group held a total of 7,607,243,708 A-shares, accounting for 57.38% of the total issued share capital[20]. - The top ten shareholders collectively hold significant stakes, with HKSCC Nominees Limited holding 29.87% of the shares[17]. - The company reported a total of 13,457,459 shares held by a securities investment fund, representing 0.10% of total shares[21]. - The company noted that 19,442,059 shares were held in margin trading accounts, accounting for 0.15% of total shares[21]. - The company has not indicated any changes in the top 10 shareholders due to margin trading activities compared to the previous period[21]. Future Plans - The company plans to enhance production efficiency and expand sales channels to mitigate the impact of declining coal prices[10]. - The company plans to continue exploring market expansion and new product development strategies in the upcoming quarters[15].
中煤能源(01898) - 2024 Q1 - 季度业绩