BNMC(SH:601011)2025-04-25 09:50Financial Performance - The net profit attributable to the parent company's shareholders for 2024 is -464,170,187.55 CNY, resulting in a total distributable profit of -581,219,221.76 CNY[4] - The company will not distribute cash dividends, issue bonus shares, or increase capital from reserves for the year 2024 due to negative profits[4] - The company's operating revenue for 2024 was CNY 1,290,813,672.86, a decrease of 65.36% compared to CNY 3,726,599,653.04 in 2023[23] - The net profit attributable to shareholders for 2024 was a loss of CNY 464,170,187.55, compared to a loss of CNY 1,535,836,584.90 in 2023[23] - The cash flow from operating activities for 2024 was CNY 312,818,532.55, down 61.27% from CNY 807,740,464.98 in 2023[23] - The basic earnings per share for 2024 was -CNY 0.24, compared to -CNY 0.80 in 2023[24] - The total assets at the end of 2024 were CNY 11,921,314,828.59, a decrease of 3.88% from CNY 12,402,994,140.45 at the end of 2023[23] - The company reported a 92.48% decrease in revenue from premium coal due to local coal supply policies affecting production[26] - The company experienced a 64.45% decline in coke revenue, attributed to reduced production and market price fluctuations[25] - The net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by CNY 10.61 billion compared to the previous year[26] - The company recorded a significant reduction in cash inflow, with sales cash receipts decreasing by CNY 2.244 billion year-on-year[27] Operational Challenges - In 2024, the company faced challenges including raw material shortages and declining prices, with coal procurement of 163,600 tons and coke production of 461,000 tons[38] - The fourth quarter saw a notable impact on revenue and cash flow due to the suspension of main products like coke and methanol[30] - The company sold 471,300 tons of coke and 34,100 tons of methanol during the reporting period, generating revenue of 31,161,600 yuan from new material-related products[38] - The company implemented cost reduction and efficiency enhancement measures, including optimizing coal blending and conducting comprehensive repairs on existing coke ovens[39] - The company is focusing on technological upgrades and maintenance during the coke oven repair to ensure safe and effective operations post-repair[109] Innovation and Development - The company is advancing a hydrogen refueling and charging demonstration station project, with trial operations starting in March 2024[41] - The synthetic ammonia project has completed site demolition and project approvals, while the graphene project is optimizing production technology for thermal management applications[41] - The company has established a comprehensive innovation system, collaborating with universities and research institutions on 10 research projects and 7 research directions in graphene technology[41] - The company is a leading producer of graphene in China, focusing on applications in thermal management and continuously upgrading production technology[52] - The company is enhancing its innovation capabilities in "graphene new materials" by collaborating with local universities and focusing on the commercialization of key applications[125] Environmental and Safety Management - Safety management plans were established, resulting in no major safety incidents throughout the year[39] - The company has invested approximately 2,330 million in ultra-low emission upgrades for the power plant, which will ensure compliance with the latest national pollutant discharge standards[184] - The company has implemented a VOCs recovery system, resulting in compliant VOCs emissions from the 980,000-ton coking plant after significant upgrades[184] - The company has conducted environmental monitoring and published results on the national pollution source monitoring platform, ensuring transparency and compliance[182] - The company’s waste gas emissions during the reporting period were compliant with the relevant discharge standards, with no exceedances reported[172] Market and Industry Position - The company operates in the coal chemical industry, with methanol prices peaking in May and experiencing fluctuations throughout the year, influenced by supply and demand dynamics[45] - The company has a total coal resource reserve of 511.1 million tons and an annual production capacity of 4.65 million tons, which will help reduce raw material costs[52] - The company’s circular economy model significantly reduces costs for traditional products while transitioning towards clean energy and new materials[52] - The company has been recognized as a leading enterprise in the coal chemical industry in Heilongjiang province and ranks among the top 500 chemical companies in China[52] - The company is actively expanding its circular economy industry chain, focusing on maximizing coal resource utilization and achieving economic and social benefits[55] Governance and Compliance - The company has established a structured approach to investor relations, respecting and protecting the rights of stakeholders[134] - The company has implemented a strict insider information management system, with no reported cases of insider trading during the reporting period[135] - The company has maintained independence from its controlling shareholders and actual controllers, with no significant changes in competitive conditions reported[136] - The company has established management systems for subsidiaries and emphasizes risk control and financial monitoring for major investment projects[165] - The company has conducted a self-inspection of its corporate governance and revised governance systems, resulting in a more complete corporate governance structure[168] Future Outlook - The company aims to enhance its "transformation and upgrading" strategy, focusing on "developing new quality productivity" and leveraging elements such as technological innovation and green development[123] - The company plans to complete the construction and approval processes for the Ma Chang coal mine and other projects by 2025, aiming for operational effectiveness[124] - The company is committed to green development, implementing projects that promote energy conservation and environmental protection while adhering to strict environmental regulations[127] - The company is transitioning from traditional coal chemical to new energy and new materials, facing both opportunities and challenges in technology and market risks[128] - The company is focusing on enhancing the concentration of the coal chemical industry to improve resource utilization and reduce operational costs[122]