CHINA COAL ENERGY(601898)2023-03-23 16:00Financial Performance - The net profit attributable to shareholders for the year ended December 31, 2022, was CNY 19,719,469,000 under IFRS and CNY 18,240,535,000 under Chinese GAAP[2]. - The company proposed a cash dividend of CNY 5,472,160,500, which is 30% of the net profit under Chinese GAAP, translating to CNY 0.413 per share (including tax)[2]. - The company's operating revenue for 2022 was CNY 220,576,859, a decrease of 8.0% compared to CNY 239,828,439 in 2021[13]. - Net profit attributable to shareholders for 2022 was CNY 18,240,535, an increase of 32.8% from CNY 13,739,271 in 2021[13]. - The net cash flow from operating activities for 2022 was CNY 43,634,064, down 9.3% from CNY 48,096,562 in 2021[13]. - The total assets at the end of 2022 were CNY 340,109,262, reflecting a 5.4% increase from CNY 322,610,395 at the end of 2021[13]. - The basic earnings per share for 2022 was CNY 1.38, up 32.7% from CNY 1.04 in 2021[14]. - The weighted average return on equity for 2022 was 14.88%, an increase of 2.17 percentage points from 12.71% in 2021[14]. - The total net assets attributable to shareholders at the end of 2022 were CNY 130,764,501, a 14.4% increase from CNY 114,345,615 at the end of 2021[15]. - The company achieved an annual revenue of 220.577 billion CNY and a net profit of 18.241 billion CNY in 2022, with a cash net inflow from operating activities of 40.049 billion CNY[24]. Operational Highlights - The company produced 119.17 million tons of self-produced commercial coal, a 4.4% increase year-on-year[20]. - The coal chemical business achieved a production volume of 5.667 million tons, growing by 3.4% year-on-year[20]. - The total sales volume of coal was 262.95 million tons, a decrease of 14.3% year-on-year, while self-produced coal sales increased by 7.3% to 120.34 million tons[28][29]. - The gross profit from coal production was 48.43 billion CNY, an increase of 115.46 billion CNY year-on-year, while the coal chemical segment achieved a gross profit of 3.028 billion CNY, up by 4.43 billion CNY[24]. - The company completed the production of 5.667 million tons of major coal chemical products, with a year-on-year growth of 3.4%[31][32]. - The company’s coal mining equipment output value reached 9.96 billion RMB in 2022, a year-on-year increase of 5.3%[34]. - The company achieved a total sales revenue of 10.61 billion RMB in coal mining equipment, with major conveying products contributing 42.6% and major support products contributing 33.5%[35]. Investment and Capital Expenditure - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[16]. - The company’s total capital expenditure was 9.271 billion yuan, achieving 63.03% of the planned 14.708 billion yuan[98]. - The company completed 6.704 billion yuan in capital expenditure for coal production, which is 65.74% of the planned 10.198 billion yuan[100]. - The total investment for the Dahuize coal mine and its associated washing plant project is 12.979 billion yuan, with 1.731 billion yuan invested in 2022, bringing the cumulative investment to 12.715 billion yuan[101]. - The company plans a capital expenditure of 18.38% increase to CNY 18.02 billion in 2023 compared to 2022, with major investments in coal, coal chemical, electricity, and new energy sectors[120]. Governance and Compliance - The audit report issued by Ernst & Young Huaming was a standard unqualified opinion, ensuring the reliability of the financial statements[2]. - The board of directors confirmed that all members attended the board meeting, ensuring governance and oversight[2]. - There were no non-operating fund occupations by controlling shareholders or related parties reported[2]. - The company has no violations of decision-making procedures regarding external guarantees[2]. - The company established a governance structure with clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[135]. - The supervisory board will continue to uphold the interests of the company and shareholders in 2023[134]. - The company has not reported any changes in the shareholding of directors, supervisors, and senior management during the reporting period[140]. Environmental and Social Responsibility - The company invested ¥188,211,000 in environmental protection during the reporting period[180]. - The company has focused on ecological restoration and sustainable mining practices to align with modern ecological civilization[186]. - The company has implemented comprehensive air pollution control measures, including VOCs management and dust control in open-pit mining[186]. - The company has established emergency response plans for environmental incidents in compliance with national regulations[188]. - The company has made significant contributions to local communities through various charitable donations and support initiatives[198]. - The company is committed to green and low-carbon development, focusing on enhancing efficiency and transitioning to low-carbon technologies[196]. Future Outlook - The company plans to continue enhancing its employee training programs, with approximately 74,000 training sessions conducted throughout the year[166]. - The company is considering strategic acquisitions to enhance its supply chain efficiency, with a budget of 1 billion RMB allocated for potential mergers[152]. - The company plans to produce and sell over 125 million tons of coal, 1.4 million tons of polyolefin products, and 1.9 million tons of urea in 2023[111]. - The company aims to enhance energy supply capabilities by optimizing production tasks and stabilizing external coal market scales[111]. - The company is actively pursuing a strategy of multi-energy complementary clean energy development, including wind and solar projects[110].