Financial Performance - The company achieved a revenue of RMB 231.13 billion in 2021, representing a year-on-year increase of 64.0%[10] - The profit attributable to shareholders reached RMB 14.71 billion, up 174.8% compared to the previous year[10] - Operating cash flow increased to RMB 48.11 billion, reflecting a growth of 112.6% year-on-year[10] - Revenue for the year ended December 31, 2021, was CNY 231.13 billion, a 64.0% increase from CNY 140.97 billion in the previous year, driven by higher market prices for self-produced coal and expanded sales[12] - The gross profit increased to CNY 37.92 billion, representing an 86.3% year-on-year growth from CNY 20.35 billion[12] - The pre-tax profit rose to CNY 27.38 billion, a 134.3% increase compared to CNY 11.69 billion in the previous year[12] - The company recognized a share of profits from joint ventures and associates amounting to CNY 3.28 billion, up 181.8% from CNY 1.16 billion[12] - The total assets of the group increased by 13.6% to CNY 321.33 billion from CNY 282.83 billion at the end of the previous year[13] - The total liabilities rose by 13.4% to CNY 179.17 billion, compared to CNY 158.03 billion at the end of the previous year[13] - The capital debt ratio decreased by 2.8 percentage points to 40.6% from 43.4%[13] Production and Sales - The total coal production was 112.74 million tons, with a year-on-year growth of 2.5%[3] - Coal sales volume reached 291.17 million tons, marking a 9.7% increase from the previous year[3] - The group achieved a total coal production of 112.74 million tons, an increase of 2.73 million tons year-on-year, and coal sales reached 291.17 million tons, up by 25.73 million tons year-on-year[11] - In 2021, the company achieved a total coal production of 112.74 million tons, an increase of 2.5% compared to 2020's 110.01 million tons[75] - The total sales volume of commercial coal reached 291.17 million tons in 2021, representing a year-on-year growth of 9.7%[78] Cost and Expenses - The sales cost increased to CNY 193.21 billion, a 60.2% increase from CNY 120.62 billion in the previous year, primarily due to expanded sales scale and rising coal prices[17] - The group's coal business sales cost increased by 71.5% to CNY 169.58 billion in 2021, up from CNY 98.86 billion in 2020, primarily due to increased procurement prices and higher purchased coal sales volume[23] - Employee costs in the coal business rose by 43.8% to CNY 4.81 billion in 2021, compared to CNY 3.35 billion in 2020[23] - Selling, general, and administrative expenses increased by 19.1% from CNY 5.447 billion in 2020 to CNY 6.487 billion in 2021, mainly due to increased R&D and employee compensation[37] Investments and Capital Expenditure - The total capital expenditure (CapEx) for 2021 was 92.74 billion CNY, achieving 78.67% of the planned 117.89 billion CNY[109] - In 2021, the coal segment completed CapEx of 77.84 billion CNY, representing 86.05% of the planned 90.46 billion CNY[110] - The company plans to increase its 2022 CapEx to 147.08 billion CNY, a 24.76% increase compared to 2021[113] - The total investment for the Dahuize coal mine project is 129.79 billion CNY, with 36.16 billion CNY invested in 2021[111] Technological Innovation and Development - The company has confirmed coal reserves of 14.255 billion tons as of the end of 2021, with a total resource amount of 27.019 billion tons[78] - The company constructed 35 intelligent mining faces, enhancing efficiency and maintaining a leading industry level with a coal output per worker of 37.3 tons[75] - The company is focusing on digital transformation and has established several national-level intelligent demonstration mines[89] - The company aims to enhance its core competitiveness by transitioning from a scale-speed model to a quality-efficiency model in its coal business[90] - The company has made significant investments in clean energy technologies to reduce carbon emissions and improve resource utilization[102] Social Responsibility and Environmental Management - The total social contribution for the year amounted to RMB 52.1 billion, demonstrating the company's commitment to social responsibility[6] - The company emphasizes green development, achieving ultra-low emissions for all coal-fired units and maintaining industry-leading levels in coal mining recovery rate and comprehensive energy consumption[100][101] - The company has established a green mining construction system, promoting advanced mining techniques to maximize resource utilization and minimize environmental impact[100] - The company has completed the construction of zero wastewater discharge projects in its coal chemical enterprises, enhancing its environmental performance[101] Corporate Governance and Management - The company has a total of 2 executive directors, 2 non-executive directors, and 3 independent non-executive directors as of the end of the reporting period[136] - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to RMB 651.21 million[135] - The company has confirmed the independence of all independent non-executive directors according to the listing rules of the Stock Exchange[136] - The total number of shares held by all directors and supervisors remains unchanged at 0[135] Future Outlook and Plans - For 2022, the company plans to produce and sell over 116 million tons of coal, 1.48 million tons of polyolefins, and 1.8 million tons of urea[96] - The company anticipates a total electricity consumption of 8.7 to 8.8 trillion kilowatt-hours in 2022, reflecting a growth of 5% to 6% year-on-year[95] - The focus for 2022 includes optimizing the clean low-carbon transformation of coal and expanding renewable energy projects[116]
中煤能源(01898) - 2021 - 年度财报