CHINA COAL ENERGY(SH:601898)2022-03-24 16:00Financial Performance - The net profit attributable to shareholders for 2021 was CNY 14,714,915,000 under IFRS and CNY 13,281,908,000 under Chinese GAAP, with a proposed cash dividend of CNY 0.301 per share[3]. - The company plans to distribute 30% of the net profit under Chinese GAAP, amounting to CNY 3,984,572,400 to shareholders[3]. - In 2021, the company's operating revenue reached CNY 231.13 billion, a 64.0% increase from CNY 140.96 billion in 2020[14]. - The net profit attributable to shareholders was CNY 13.28 billion, representing a 124.8% increase compared to CNY 5.91 billion in 2020[14]. - The net cash flow from operating activities was CNY 48.11 billion, up 112.6% from CNY 22.63 billion in 2020[14]. - The basic earnings per share increased to CNY 1.00, a 122.2% rise from CNY 0.45 in 2020[16]. - The company's total assets at the end of 2021 were CNY 321.74 billion, a 13.7% increase from CNY 282.94 billion at the end of 2020[14]. - The net assets attributable to shareholders increased to CNY 113.79 billion, an 11.6% increase from CNY 102.00 billion at the end of 2020[14]. - The company reported a weighted average return on equity of 12.26% in 2021, up from 5.90% in 2020, an increase of 6.36 percentage points[16]. - The company achieved a total profit of 25.58 billion RMB in 2021, a 107.5% increase from 12.33 billion RMB in 2020[75]. Operational Highlights - Coal production reached 112.74 million tons, a 2.5% increase year-on-year, while coal sales volume was 291.17 million tons, up 9.7%[24]. - The company completed the construction of 20 intelligent mining faces and 15 intelligent tunneling faces, enhancing operational efficiency[25]. - The company recorded non-operating income of CNY 202.32 million from government subsidies closely related to its normal business operations in 2021[20]. - The company processed 7.41 million tons of low calorific value or high-sulfur coal through its power plants and coal chemical enterprises during the reporting period[42]. - The company achieved a total coal production of 112.74 million tons in 2021, an increase of 2.5% compared to 2020's 110.01 million tons[32]. - The company’s coal production in the Inner Mongolia and Shanxi regions increased by 10.1% and 1.3% respectively, while Jiangsu saw a decline of 16.8%[33]. Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[14]. - The company plans to deepen supply-side structural reforms and accelerate the construction of a world-class energy enterprise[31]. - The company aims to enhance its overall industry chain value and transition from a scale-speed model to a quality-efficiency model[45]. - The company plans to optimize its coal-to-chemical industry and enhance the modernized level of its industrial chain[112]. - The company is focusing on the transformation and upgrading of its energy services, emphasizing low-carbon and clean energy development[113]. Environmental and Social Responsibility - The company is committed to addressing risks related to environmental protection and safety production in its operations[4]. - The company has invested in pollution prevention and ecological restoration, with ongoing projects for coal gangue filling and ecological recovery of waste disposal sites, enhancing its environmental governance capabilities[178]. - The company has committed to green development principles, aligning with national goals for carbon peak and carbon neutrality[174]. - In 2021, the company invested over 25.99 million yuan in poverty alleviation and rural revitalization projects, supporting 21 villages/towns and implementing 32 assistance projects[188]. - The company has established a robust ecological and environmental management system, ensuring compliance with national ecological and environmental policies and regulations[174]. Governance and Compliance - The audit report issued by Deloitte Huayong was a standard unqualified opinion, ensuring the accuracy of the financial statements[2]. - The supervisory board confirmed that the company operates in compliance with national laws and regulations, ensuring effective decision-making processes[130]. - The company has strengthened internal control systems and has not identified any significant deficiencies during the reporting period[171]. - The company established a governance structure that complies with relevant laws and regulations, ensuring clear responsibilities among its governing bodies[137]. - The company did not experience any insider trading incidents during the reporting period[137]. Future Outlook - 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 for 2022[115]. - The company aims to enhance production efficiency and maintain stable supply while ensuring safety in coal production[116]. - The coal industry is expected to maintain resilient demand in 2022, with a GDP growth target of around 5.5%[109]. - The company plans a capital expenditure of 14.708 billion yuan for 2022, an increase of 2.919 billion yuan (24.76%) compared to 2021[126]. - The company will actively monitor international exchange rate trends to mitigate foreign exchange risks associated with its export sales[125].