陕西煤业(601225) - 2018 Q1 - 季度财报

Important Notice The board, supervisory board, and senior management guarantee the accuracy and completeness of the quarterly report, which remains unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility for any misstatements or omissions[7] - All directors attended the board meeting to review the quarterly report[7] - This first quarter report is unaudited[7] Company Profile This section outlines the company's key financial data and shareholder information for Q1 2018, showing growth in assets and net profit, with a slight decrease in operating cash flow Key Financial Data The company's Q1 2018 financial indicators show total assets and net assets attributable to shareholders increased by 3.59% and 7.42% respectively, with operating cash flow slightly down by 2.74% Key Financial Data for Q1 2018 (Consolidated Statements) | Indicator | Current Period Amount (million yuan) | Prior Period/Year-end Amount (million yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 10,919,554.42 | 10,540,720.89 | 3.59 | | Net Assets Attributable to Parent Company Shareholders | 4,750,756.15 | 4,422,437.90 | 7.42 | | Net Cash Flow from Operating Activities | 322,829.58 | 331,923.32 | -2.74 | | Operating Revenue | 1,258,743.07 | 1,227,393.35 | 2.55 | | Net Profit Attributable to Parent Company Shareholders | 284,141.69 | 267,378.49 | 6.27 | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Gains/Losses) | 284,760.23 | 266,790.08 | 6.74 | | Weighted Average Return on Net Assets (%) | 6.20 | 7.45 | Decreased by 1.25 percentage points | | Basic Earnings Per Share (yuan/share) | 0.28 | 0.27 | 3.70 | Non-recurring Gains and Losses for Q1 2018 | Item | Amount (million yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -0.01 | | Government Subsidies Included in Current Profit/Loss | 5.33 | | Other Non-operating Income and Expenses | -11.00 | | Impact on Minority Interests (After Tax) | 0.29 | | Income Tax Impact | -0.80 | | Total | -6.19 | Total Shareholders, Top Ten Shareholders, and Top Ten Unrestricted Shareholders at Report End As of the report end, the company had 73,212 shareholders, with Shaanxi Coal and Chemical Industry Group Co., Ltd. as the largest shareholder at 63.14% - As of the end of the reporting period, the total number of shareholders was 73,212[9] Top Ten Shareholders (as of Report End) | Shareholder Name (Full Name) | Shares Held at Period End (shares) | Proportion (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | Shaanxi Coal and Chemical Industry Group Co., Ltd. | 6,313,825,200 | 63.14 | State-owned Legal Person | | China Three Gorges Capital Holdings Co., Ltd. | 492,999,971 | 4.93 | State-owned Legal Person | | Mianyang Science and Technology City Industrial Investment Fund (Limited Partnership) | 296,601,100 | 2.97 | Other | | Huaneng International Power Development Corporation | 262,791,403 | 2.63 | State-owned Legal Person | | Shaanxi Non-ferrous Metals Holding Group Co., Ltd. | 256,739,091 | 2.57 | State-owned Legal Person | - The shareholding of the top ten unrestricted shareholders is consistent with that of the top ten shareholders, indicating that the major shareholders' holdings are all tradable shares[10] Significant Events This chapter details significant changes in key financial statement items and operating data for Q1 2018, including increases in prepayments and available-for-sale financial assets, and decreases in selling and financial expenses Significant Changes and Reasons for Key Financial Statement Items and Indicators Significant changes in Q1 2018 include increased prepayments and available-for-sale financial assets, decreased selling and financial expenses, and increased cash payments for purchases and taxes Changes and Reasons for Consolidated Balance Sheet Items | Consolidated Balance Sheet Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Prepayments | 55.41 | Increase in prepayments for equipment purchases | | Available-for-sale financial assets | 39.75 | Increase in investment in LONGi Green Energy Technology Co., Ltd | | Special reserves | 39.29 | Increase in period-end special reserve balance | Changes and Reasons for Consolidated Income Statement Items | Consolidated Income Statement Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Selling expenses | -51.04 | Decrease in sales volume under the "one-ticket system" in Binchang mining area and reduced railway transport volume in Northern Shaanxi mining area year-on-year | | Financial expenses | -83.20 | Decrease in interest-bearing debt year-on-year, leading to lower interest expenses compared to the prior year | | Asset impairment losses | -57.62 | Decrease in bad debt losses on accounts receivable compared to the prior year | | Income tax expense | 36.45 | Increase in current income tax expense compared to the prior year | Changes and Reasons for Consolidated Cash Flow Statement Items | Consolidated Cash Flow Statement Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Cash paid for goods and services | 53.57 | Increase in purchases and corresponding payments for goods | | Cash paid for taxes | 64.12 | Increase in corporate income tax paid compared to the prior year | | Cash paid for acquisition of fixed, intangible, and other long-term assets | 52.34 | Increase in long-term asset investments | | Cash paid for investments | 100.00 | Increase in investment in LONGi Green Energy Technology Co., Ltd | | Cash received from borrowings | -68.75 | Decrease in new borrowings compared to the prior year | | Cash paid for debt repayment | -90.59 | Decrease in debt repayments compared to the prior year | | Cash paid for dividends, profit distribution, or interest payments | 41.01 | Dividend distribution by the company's Zhangjiamao Mining subsidiary | Analysis of Progress, Impact, and Solutions for Significant Events The company has no significant events requiring disclosure of progress, impact, or solutions during the reporting period - There were no significant events requiring analysis of their progress, impact, or solutions during the reporting period[13] Unfulfilled Commitments Overdue in the Reporting Period The company had no overdue unfulfilled commitments during the reporting period - There were no overdue unfulfilled commitments during the reporting period[13] Warning and Explanation of Potential Cumulative Net Profit Loss or Significant Change from Prior Year-end to Next Reporting Period End The company has not issued any warnings or explanations regarding potential cumulative net profit loss or significant changes for the period from year-start to the next reporting period end - The company has not issued any warnings or explanations regarding potential cumulative net profit loss or significant changes from the beginning of the year to the end of the next reporting period[13] Operating Data for January-March 2018 From January to March 2018, the company's coal production and sales volumes increased by 5.19% and 3.48% respectively, with coal sales revenue growing by 3.74% Key Operating Data for January-March 2018 | Indicator | Jan-Mar 2018 | Jan-Mar 2017 | Change Rate (%) | | :--- | :--- | :--- | :--- | | Coal Production (million tons) | 25.26 | 24.01 | 5.19 | | Coal Sales Volume (million tons) | 31.04 | 30.00 | 3.48 | | Coal Sales Revenue (million yuan) | 12,197.59 | 11,758.22 | 3.74 | | Sales Cost (million yuan) | 5,440.01 | 5,108.84 | 6.48 | | Gross Profit (million yuan) | 6,757.57 | 6,649.38 | 1.63 | Appendix The appendix provides the company's unaudited financial statements for Q1 2018, including consolidated and parent company balance sheets, income statements, and cash flow statements Financial Statements This section includes the company's unaudited consolidated and parent company financial statements for Q1 2018, providing detailed financial data for performance assessment - All financial statements are unaudited[14][18][22][25][28][31] - The financial statements were prepared by Shaanxi Coal Industry Co., Ltd. and guaranteed to be true, accurate, and complete by legal representative Yang Zhaoqian, head of accounting Wang Xiaogang, and head of accounting department Wang Xiaogang[14][18][22][28][31] Consolidated Balance Sheet As of March 31, 2018, consolidated total assets were 109.20 billion yuan, up 3.59% from the beginning of the year, with owner's equity increasing by 7.42% Key Consolidated Balance Sheet Data (as of March 31, 2018) | Item | Period-end Balance (billion yuan) | Year-start Balance (billion yuan) | | :--- | :--- | :--- | | Total Assets | 109.20 | 105.41 | | Total Liabilities | 45.64 | 46.84 | | Total Owner's Equity | 63.55 | 58.57 | | Total Owner's Equity Attributable to Parent Company | 47.51 | 44.22 | - Total current assets were 29.16 billion yuan, and total non-current assets were 80.04 billion yuan[16] Parent Company Balance Sheet As of March 31, 2018, the parent company's total assets were 58.63 billion yuan, up 10.91% from the beginning of the year, with owner's equity increasing by 1.74% Key Parent Company Balance Sheet Data (as of March 31, 2018) | Item | Period-end Balance (billion yuan) | Year-start Balance (billion yuan) | | :--- | :--- | :--- | | Total Assets | 58.63 | 52.87 | | Total Liabilities | 32.13 | 26.81 | | Total Owner's Equity | 26.51 | 26.05 | - Total current assets were 30.59 billion yuan, with notes receivable increasing from 3.34 billion yuan at year-start to 7.16 billion yuan[19] Consolidated Income Statement In Q1 2018, consolidated total operating revenue was 12.59 billion yuan, up 2.55%, with net profit attributable to parent company shareholders increasing by 6.27% Key Consolidated Income Statement Data (Jan-Mar 2018) | Item | Current Period Amount (billion yuan) | Prior Period Amount (billion yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 12.59 | 12.27 | | Total Operating Costs | 7.91 | 8.05 | | Operating Profit | 4.98 | 4.48 | | Total Profit | 4.97 | 4.49 | | Net Profit | 4.29 | 3.98 | | Net Profit Attributable to Parent Company Shareholders | 2.84 | 2.67 | | Basic Earnings Per Share (yuan/share) | 0.28 | 0.27 | - Selling expenses decreased by 51.04% year-on-year, financial expenses decreased by 83.20%, and asset impairment losses decreased by 57.62%[22] Parent Company Income Statement In Q1 2018, the parent company's net profit significantly increased by 103.36% to 453.65 million yuan, driven by higher investment income and improved financial expenses Key Parent Company Income Statement Data (Jan-Mar 2018) | Item | Current Period Amount (million yuan) | Prior Period Amount (million yuan) | | :--- | :--- | :--- | | Operating Profit | 453.66 | 223.09 | | Total Profit | 453.65 | 223.09 | | Net Profit | 453.65 | 223.09 | - Investment income increased from 211 million yuan in the prior period to 395 million yuan[24] - Financial expenses shifted from a 27.42 million yuan outflow in the prior period to a 73.38 million yuan inflow in the current period[24] Consolidated Cash Flow Statement In Q1 2018, consolidated net cash from operating activities was 3.23 billion yuan (down 2.74%), while net cash used in investing activities significantly increased to 1.49 billion yuan outflow Key Consolidated Cash Flow Statement Data (Jan-Mar 2018) | Item | Current Period Amount (billion yuan) | Prior Period Amount (billion yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 3.23 | 3.32 | | Net Cash Flow from Investing Activities | -1.49 | -0.21 | | Net Cash Flow from Financing Activities | -0.05 | -0.75 | | Net Increase in Cash and Cash Equivalents | 1.69 | 2.36 | - Cash received from sales of goods and services was 11.95 billion yuan, a year-on-year increase of 28.18%[29] - Cash paid for goods and services was 3.24 billion yuan, a year-on-year increase of 53.57%[29] - Cash paid for various taxes was 3.60 billion yuan, a year-on-year increase of 64.12%[30] Parent Company Cash Flow Statement In Q1 2018, the parent company's net cash from operating activities increased by 55.16% to 1.34 billion yuan, while net cash from financing activities turned into a net inflow Key Parent Company Cash Flow Statement Data (Jan-Mar 2018) | Item | Current Period Amount (billion yuan) | Prior Period Amount (billion yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1.34 | 0.86 | | Net Cash Flow from Investing Activities | -1.12 | 0.02 | | Net Cash Flow from Financing Activities | 0.36 | -0.32 | | Net Increase in Cash and Cash Equivalents | 0.58 | 0.56 | - Cash paid for investments was 1.13 billion yuan in the current period, compared to zero in the prior period[32] - Cash paid for debt repayment was 10 million yuan in the current period, a significant decrease from 1.79 billion yuan in the prior period[33] Audit Report This quarterly report is unaudited and therefore does not include an audit report - This quarterly report is unaudited[33]