KEC(SH:600997)2014-04-24 16:00Financial Performance - In 2013, the company achieved a net profit attributable to shareholders of CNY 251,771,919.32, a decrease of 48.39% compared to CNY 487,872,701.63 in 2012[22]. - The company's operating revenue for 2013 was CNY 17,176,166,706.91, down 10.03% from CNY 19,091,266,723.97 in 2012[22]. - The net cash flow from operating activities was CNY 1,496,441,820.49, a decrease of 4.74% compared to CNY 1,570,950,204.59 in 2012[22]. - The company reported a total operating revenue of CNY 17,176.17 million for 2013, a decrease of 10.03% compared to the previous year[27]. - The net profit attributable to shareholders was CNY 251.77 million, down 48.39% year-on-year[27]. - The basic earnings per share decreased by 50.00% to CNY 0.20 from CNY 0.40 in 2012[23]. - The company’s total profit decreased by 43.61% to CNY 401.06 million due to falling coal and coke prices[27]. - The company achieved a weighted average return on equity of 3.65%, down 3.68 percentage points from the previous year[23]. - The company reported a comprehensive income total of RMB 237,668,151.41, significantly lower than RMB 531,643,871.44 in 2012[157]. - The net profit for the year was RMB 321,052,716.10, a decline of 37.3% compared to RMB 511,869,579.58 in the previous year[157]. Assets and Liabilities - As of the end of 2013, the total assets amounted to CNY 20,522,121,154.07, a decline of 2.49% from CNY 21,046,594,190.79 at the end of 2012[22]. - The company's cash and cash equivalents decreased by 47.31% to ¥1,763,206,428.43, attributed to increased investment activity expenditures[42]. - The company's total liabilities decreased to RMB 11,716,917,363.75 from RMB 12,382,907,561.04, reflecting a reduction of 5.4%[155]. - Shareholders' equity increased to RMB 8,805,203,790.32, up from RMB 8,663,686,629.75, representing a growth of 1.6%[155]. - The company's long-term equity investments rose to RMB 445,508,054.71 from RMB 223,334,394.49, marking an increase of approximately 99.9%[153]. Production and Capacity - The company has a production capacity of 8.9 million tons/year for coal, 720,000 tons/year for coke, and 200,000 tons/year for methanol, indicating a diversified production strategy[19]. - The company produced 8.75 million tons of raw coal, a decline of 1.12% year-on-year, while the production of clean coal increased by 5.57% to 3.60 million tons[28]. - The company’s coal chemical business produced 7.45 million tons of coke, a slight increase of 0.72% year-on-year[29]. - The company plans to produce 8.7 million tons of raw coal, 3.32 million tons of premium coal, and 7.1451 million tons of coke in 2014, with projected revenue of 17.1 billion yuan[64]. Investments and Projects - The total investment during the reporting period was 43,290.26 million RMB, representing a decrease of 15.99% compared to the previous year's investment of 51,530 million RMB[49]. - The company invested 20,000 million RMB in Tangshan Zhonghao Company and 1,840.26 million RMB in Canada Zhonghe Investment Co., Ltd. during the reporting period[48]. - The total cumulative investment across all projects amounts to CNY 4,930,968,320.08[57]. - The total investment for the Zhonglu Coking Project Phase II is CNY 1,156,273,700.00, with a project progress of 100% and a cumulative actual investment of CNY 1,202,621,805.47[57]. Strategic Focus and Transformation - The company has implemented a strategic transformation focusing on coal, coal chemical, new materials, and new fuels, establishing a development pattern centered on coal[19]. - The company is advancing its overseas resource development and coal chemical project construction, with significant progress in the Canadian Geysen coalfield[39]. - The company aims to enhance resource ownership through resource expansion and mergers, focusing on safety and technological innovation in the coal industry[63]. - The company is actively extending its coal chemical industry chain to enhance product value and efficiency[45]. Governance and Management - The company has established a sound corporate governance structure, with a board of directors consisting of 9 members, including 3 independent directors[125]. - The company has maintained a stable management team with no changes in key positions reported[106]. - The management team includes experienced professionals with backgrounds in engineering, economics, and law, contributing to strategic decision-making[108]. - The company has improved its investor relations management by utilizing multiple channels for communication, including performance briefings and on-site research[128]. Environmental and Social Responsibility - The company implemented environmental management practices, ensuring all wastewater and air pollutants met discharge standards[74]. - The company invested 108.90 million RMB in 10 energy-saving and emission-reduction projects during the reporting period[74]. - The company emphasizes safety production and aims to establish a fundamentally safe enterprise, addressing risks associated with natural disasters and chemical processes[68]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.62 per 10 shares, totaling CNY 76,547,680.00, subject to shareholder approval[5]. - In 2013, the company did not propose a cash dividend distribution plan despite having positive undistributed profits[73]. - The company revised its profit distribution policy to prioritize cash dividends in accordance with regulatory requirements[71].