2015-04-24 16:00Financial Performance - Operating revenue decreased by 34.5% to RMB 39,911 million in Q1 2015, down from RMB 60,929 million in Q1 2014[6]. - Net profit attributable to shareholders dropped by 45.1% to RMB 5,690 million in Q1 2015, compared to RMB 10,373 million in Q1 2014[6]. - Basic earnings per share fell by 45.1% to RMB 0.286 in Q1 2015, down from RMB 0.522 in Q1 2014[6]. - The company's total revenue for Q1 2015 was 39,911 million RMB, a decrease of 34.5% compared to 60,929 million RMB in Q1 2014[19]. - The net profit attributable to shareholders for Q1 2015 was 5,690 million RMB, down 45.1% from 10,373 million RMB in Q1 2014[19]. - Operating costs for Q1 2015 were 24,037 million RMB, a decline of 39.5% from 39,748 million RMB in Q1 2014, primarily due to decreased sales volume and prices of coal and electricity[20]. - Total operating revenue decreased to RMB 39,911 million from RMB 60,929 million, a decline of 34.5%[43]. - Net profit fell to RMB 7,656 million compared to RMB 12,634 million, representing a decline of 39.0%[43]. - Total comprehensive income decreased to RMB 7,496 million from RMB 12,811 million, a decline of 41.5%[43]. Cash Flow and Assets - Cash flow from operating activities increased by 65.6% to RMB 9,995 million in Q1 2015, compared to RMB 6,035 million in Q1 2014[6]. - The company reported a significant increase in cash flow from operating activities, reaching 9,995 million RMB, up 65.6% from 6,035 million RMB in the same period last year[22]. - Cash and cash equivalents at the end of the period amounted to RMB 46,385 million, compared to RMB 45,567 million, an increase of 1.8%[48]. - Total assets increased by 2.4% to RMB 545,259 million as of March 31, 2015, compared to RMB 532,596 million at the end of 2014[6]. - Current assets totaled 130,455 million RMB, up from 118,637 million RMB at the start of the year[36]. - The company's cash and cash equivalents increased to 54,890 million RMB from 43,502 million RMB[36]. - Total liabilities as of March 31, 2015, were 182,905 million RMB, compared to 176,969 million RMB at the beginning of the year[37]. - The company's equity attributable to shareholders was 297,975 million RMB, an increase from 291,789 million RMB[37]. Production and Sales - Coal production decreased by 13.3% to 69.3 million tons in Q1 2015, down from 79.9 million tons in Q1 2014[12]. - Total electricity generation declined by 7.6% to 47.65 billion kWh in Q1 2015, compared to 51.56 billion kWh in Q1 2014[12]. - The company experienced a 33.5% decrease in coal sales volume, primarily due to a slowdown in domestic economic growth and increased competition from imported coal[14]. - In Q1 2015, coal sales volume decreased by 33.5% to 72.8 million tons, while the average selling price dropped by 11.3% to RMB 328.4 per ton compared to Q1 2014[23]. - The average selling price of imported coal was RMB 212.0 per ton, reflecting a 52.1% decrease compared to RMB 442.3 per ton in Q1 2014[23]. - The coal import volume in Q1 2015 was 0 million tons, a significant decline of 100% compared to 1.1 million tons in Q1 2014[24]. - The average utilization hours of coal-fired units decreased by 9.0% to 1,134 hours in Q1 2015 compared to 1,246 hours in Q1 2014[27]. - The coal market continued to experience oversupply, with the Qinhuangdao thermal coal price index falling by 9.9% to RMB 473 per ton by the end of March 2015[28]. - In Q1 2015, the total coal production in China was 850 million tons, a year-on-year decrease of 3.5%[28]. Shareholder Information - The total number of shareholders was 319,922, with 317,446 being A-share shareholders and 2,476 H-share shareholders[17]. - The top shareholder, Shenhua Group, held 73.01% of the shares, totaling 14,521,846,560 shares[17]. - No quarterly dividend has been declared or paid to shareholders for Q1 2015[32]. Future Outlook - The company expects coal demand to be supported in Q4 2015 due to government policies aimed at stabilizing growth[29]. - The company expects a potential decline in net profit for the first half of 2015 to reach or exceed 50% due to weak coal and electricity demand, low coal prices, and reduced electricity prices[31]. Debt and Financing - The company issued dollar bonds during the reporting period, increasing the payable bonds to 34,069 million RMB, a rise of 36.6% from 24,933 million RMB[22]. - The company issued USD 1.5 billion bonds in January 2015, with net proceeds of approximately USD 1.48377 billion for repaying overseas loans and approved projects[30]. - The company's short-term borrowings decreased by 18.6% to 9,965 million RMB from 12,246 million RMB at the end of 2014[22]. Tax and Expenses - The company reported a tax expense of RMB 2,164 million, down from RMB 2,827 million, a decrease of 23.4%[43]. - The company’s financial expenses decreased to RMB 747 million from RMB 833 million, a reduction of 10.3%[43]. - The company experienced a 55.8% increase in business tax and additional charges, amounting to 1,474 million RMB, due to changes in resource tax regulations[20].