XINJI ENERGY(SH:601918)2025-03-21 09:25Financial Performance - The company's operating revenue for 2024 was CNY 12,727,176,117.02, a decrease of 0.92% compared to CNY 12,844,786,669.41 in 2023[20] - Net profit attributable to shareholders for 2024 was CNY 2,392,941,073.83, representing a growth of 13.44% from CNY 2,109,359,683.01 in 2023[20] - The basic earnings per share for 2024 increased to CNY 0.924, up 13.51% from CNY 0.814 in 2023[21] - The total profit for the reporting period was RMB 3.726 billion, with a state-owned capital preservation and appreciation rate of 121.15%[30] - The total profit for the period was 3.73 billion RMB, with a net profit attributable to shareholders of 2.39 billion RMB[40] - The company reported a significant increase in revenue, achieving a total of 10 billion CNY for the fiscal year 2024, representing a 15% growth compared to the previous year[104] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 11.2 billion CNY[104] Assets and Cash Flow - The total assets of the company at the end of 2024 reached CNY 44,665,923,358.32, a 23.07% increase from CNY 36,294,534,331.52 in 2023[20] - The company's net cash flow from operating activities for 2024 was CNY 3,457,872,553.63, down 8.91% from CNY 3,795,941,247.44 in 2023[20] - The company's cash flow from operating activities was 3.46 billion RMB, reflecting a decrease of 8.91% compared to the previous year[41] - The net cash flow from investing activities in 2024 was -CNY 7.007 billion, a decrease of CNY 3.969 billion year-on-year, mainly due to significant investments in new power plants[56] - The net cash flow from financing activities increased to CNY 4.200 billion, an increase of CNY 4.775 billion compared to the previous year, attributed to increased special loans for new power plants[56] Production and Sales - The company reported a total coal production of 19.0551 million tons, a year-on-year decrease of 1.62%, while coal sales reached 18.872 million tons, down 4.14% year-on-year[30] - The company's coal production capacity is 23.5 million tons per year, with five operational mines, including Liu Zhuang Coal Mine with a capacity of 11 million tons per year[35] - The company's coal production in 2024 was 1,905.51 million tons, a decrease of 31.4 million tons or 1.62% compared to the previous year[46] - The company's coal sales in 2024 were 1,887.20 million tons, down by 81.41 million tons or 4.14% year-on-year[46] - The total coal production for the year was 19,055,102 tons, with sales volume at 18,871,955 tons, generating sales revenue of CNY 10.708 billion and a gross profit of CNY 3.967 billion[62] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.60 per 10 shares, totaling CNY 414,486,688.00 for the year 2024[4] - The cash dividend represents 17.32% of the net profit attributable to ordinary shareholders of the listed company, which was 2,392,941,073.83 RMB for the most recent fiscal year[141] - Over the last three accounting years, the cumulative cash dividend amount (including tax) was 1,088,027,556 RMB, with an average annual net profit of 2,188,869,086.54 RMB, resulting in a cash dividend ratio of 49.71%[143] Market and Competition - The company anticipates intensified competition in traditional sales areas due to improved transportation conditions and increased coal production capacity in other regions[31] - The company is focusing on high-quality development in traditional coal and electricity industries while actively developing new energy sectors[30] - The company is committed to enhancing its market risk resilience by expanding coal-electricity joint operations and upgrading its industrial structure[91] Environmental and Sustainability Initiatives - The company invested 20,603.27 million RMB in environmental protection during the reporting period, demonstrating its commitment to sustainability[150] - The company is focused on clean and efficient coal development, ecological civilization construction, and ensuring environmental risk management[91] - The company has implemented advanced pollution control technologies, including low nitrogen combustion technology and selective catalytic reduction (SCR) for nitrogen oxide reduction, ensuring compliance with stringent emission standards[165] - The company achieved a significant reduction in air pollutant emissions, with dust, sulfur dioxide, and nitrogen oxides concentrations decreasing from 10/35/50 mg/m³ to 5/25/35 mg/m³ after the upgrade of the Baijic Power Plant, which involved an investment of 28 million yuan[165] Governance and Management - The total remuneration for the board members and senior management during the reporting period amounted to CNY 1,670.60 million[100] - The company has seen changes in its management team, with several members leaving and new appointments being made[100] - The company is focused on maintaining a diverse board, with both male and female representation among directors[100] - The company is committed to transparency in its remuneration practices, providing detailed disclosures in its annual report[100] Legal and Compliance Matters - The company received a warning letter from the Anhui Securities Regulatory Bureau for failing to disclose information regarding a financial risk assessment report[110] - The company is currently involved in a lawsuit with Tianjin Weichen Investment Co., with claims of ¥223,698,361.6 related to fund occupation losses and delayed delivery losses, awaiting a court decision[194] - The company has not reported any major litigation or arbitration matters for the reporting period[195] Future Outlook - The company plans to produce 18.5 million tons of commercial coal and generate 16.1 billion kWh of electricity in 2025[87] - The company is likely to explore further integration with related parties to enhance operational synergies and reduce costs[200] - The company is committed to promoting innovation and green development by increasing investment in technology and smart construction[88]