2021-03-28 11:01Financial Performance - Total revenue for 2020 was RMB 233.263 billion, a decrease of 3.6% from RMB 241.871 billion in 2019[25]. - Net profit attributable to shareholders for 2020 was RMB 35.849 billion, down 14.0% from RMB 41.707 billion in 2019[25]. - Basic earnings per share for 2020 were RMB 1.803, a decline of 14.0% compared to RMB 2.097 in 2019[25]. - Operating cash inflow for 2020 increased by 28.8% to RMB 81.289 billion from RMB 63.106 billion in 2019[25]. - Total assets at the end of 2020 were RMB 562.904 billion, a slight decrease of 0.0% from RMB 563.083 billion at the end of 2019[26]. - Total liabilities decreased by 6.7% to RMB 133.317 billion from RMB 142.865 billion in 2019[26]. - The return on total assets at the end of 2020 was 7.8%, down 1.0 percentage point from 8.8% in 2019[25]. - The debt-to-asset ratio at the end of 2020 was 23.7%, a decrease of 1.7 percentage points from 25.4% in 2019[26]. - The net profit attributable to shareholders under Chinese accounting standards for 2020 was RMB 39.170 billion, compared to RMB 43.250 billion in 2019[27]. - The company’s total equity attributable to shareholders at the end of 2020 was RMB 364.203 billion, an increase of 2.3% from RMB 356.077 billion at the end of 2019[26]. Dividend Distribution - The company plans to distribute a final cash dividend of RMB 1.81 per share for the year 2020, totaling RMB 35,962 million based on the total share capital of 19,868,519,955 shares as of March 26, 2021[2]. - The profit distribution policy ensures a minimum of 50% of the net profit attributable to shareholders is distributed in cash annually from 2019 to 2021[199]. - The proposed cash dividend for the 2020 fiscal year is 18.1 CNY per 10 shares, totaling 35,962 million CNY[200]. - The cash dividend for the 2019 fiscal year was 12.6 CNY per 10 shares, amounting to 25,061 million CNY[200]. - The net profit attributable to the company's shareholders for the 2020 fiscal year was 39,170 million CNY, with a dividend payout ratio of 91.8%[200]. - The net profit attributable to the company's shareholders for the 2019 fiscal year was 43,250 million CNY, with a dividend payout ratio of 57.9%[200]. - The cash dividend for the 2018 fiscal year was 8.8 CNY per 10 shares, totaling 17,503 million CNY[200]. Operational Challenges and Goals - The company faces uncertainties in achieving its 2021 operational goals due to factors such as coal and power supply-demand dynamics and industry policy adjustments[3]. - The board of directors' report details the risks faced by the company, including macroeconomic factors and industry competition[3]. - The company aims for a revenue target of 242.6 billion yuan in 2021, reflecting an expected growth of approximately 5%[43]. - The company plans to enhance its market expansion strategies and invest in new technologies to improve operational efficiency and reduce costs[43]. - Future guidance suggests a focus on increasing production capacity and enhancing operational efficiency to meet growing market demand[1]. - The company plans to explore new technologies in coal processing to improve product quality and reduce environmental impact[1]. - The company aims to achieve energy conservation and emission reduction targets while enhancing environmental monitoring and management systems[189]. - The company will strengthen its research on macroeconomic policies and industry trends to mitigate risks associated with economic fluctuations[187]. Production and Sales Performance - The company controlled and operated a total installed capacity of 32,279 MW for power generation, achieving a total electricity sales volume of 127.65 billion kWh in 2020[31]. - The company reported coal production of 291.6 million tons and coal sales of 446.4 million tons for the year[31]. - In 2020, the total coal production reached 291.6 million tons, an increase of 3.1% compared to 282.7 million tons in 2019[43]. - Coal sales volume in 2020 was 446.4 million tons, slightly down from 447.1 million tons in 2019, reflecting a decrease of 0.2%[43]. - The total revenue from coal sales reached 183,081 million RMB, with a gross profit of 42,277 million RMB[99]. - The average price of coal sold in the domestic market was 410 RMB per ton, with domestic sales accounting for 99.5% of total sales volume[105]. - The total sales volume of imported coal was 5.1 million tons, with an average price of 418 RMB per ton, an increase of 45.7% in sales volume compared to 2019[105]. - The sales breakdown includes 430.1 million tons from annual long-term contracts, 190.0 million tons from monthly long-term contracts, and 163.5 million tons from spot sales, accounting for 96.3%, 42.5%, and 36.6% respectively[1]. Safety and Environmental Management - The company has implemented a three-year special rectification action for safety production, with 22 mines rated as top-level safe and efficient mines[37]. - The company undertook multiple safety measures to ensure coal mine production safety, resulting in a stable overall safety production situation[106]. - The company aims to enhance its safety production goals, targeting "zero deaths" in operations while facing increased environmental regulations[188]. - The company plans to enhance its coal mining operations and environmental management, with 20 green mines established, an increase of 8 from the previous year[95]. - The coal production death rate in 2020 was 0.0034 per million tons, significantly lower than the national average of 0.0580[106]. Research and Development - The company obtained 915 authorized patents during the reporting period, including 198 invention patents, highlighting its focus on technological innovation[35]. - The total R&D expenditure for 2020 was 2,149 million, a significant increase from 1,245 million in 2019, with capitalized R&D accounting for 36.6% of the total[85]. - Research and development expenses increased by 44.9% to 1,362 million yuan compared to 940 million yuan in 2019[70]. - The proportion of R&D personnel to total employees was 3.8%, with the number of R&D staff totaling 2,904[85]. Market and Strategic Initiatives - The company plans to expand its market presence in the Southern and Eastern China regions, focusing on energy and coal sectors[9]. - The company is currently in the preliminary work phase for the Watermark Coal Project in Australia, indicating ongoing international expansion efforts[1]. - The company is evaluating potential mergers and acquisitions to bolster its market position and diversify its portfolio[1]. - The company plans to enhance its integrated operational advantages to better respond to market challenges and improve profitability[67]. - The company emphasizes integrated operations across coal, power generation, transportation, and coal chemical sectors to enhance operational efficiency[194]. Financial Company Performance - The financial company’s shareholding ratio decreased to 40% after a capital increase transaction completed on September 1, 2020, resulting in the financial company being excluded from the consolidated financial statements[2]. - The financial company achieved a net profit of 1,020 million RMB in 2020, down 5.4% from 2019[160]. - The financial company's total assets decreased by 10.7% to 105,607 million RMB in 2020, while total liabilities decreased by 24.5% to 83,136 million RMB[160]. - The capital adequacy ratio of the financial company was 24.75%, significantly exceeding the regulatory requirement of 10%[161].