XINJI ENERGY(SH:601918)2019-03-21 16:00Financial Performance - The company's operating revenue for 2018 was CNY 8,750,260,795.01, an increase of 17.18% compared to CNY 7,467,475,834.96 in 2017[21]. - The net profit attributable to shareholders for 2018 reached CNY 261,329,824.75, a significant increase of 1,080.69% from CNY 22,133,587.87 in 2017[21]. - The net cash flow from operating activities was CNY 3,374,933,553.06, representing a 55.57% increase from CNY 2,169,365,738.44 in the previous year[21]. - The basic earnings per share for 2018 was CNY 0.101, a substantial increase of 1,022.22% compared to CNY 0.009 in 2017[21]. - The company reported a decrease of 89.21% in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to CNY 15,272,092.5[21]. - The company achieved a total revenue of CNY 8,750.26 million in 2018, representing a 17.18% increase from CNY 7,467.48 million in the previous year[37]. - The net profit attributable to the parent company was CNY 261 million, with a total profit of CNY 1,079 million for the year[36]. Revenue Breakdown - In 2018, the company's total operating revenue was approximately CNY 9.75 billion, with a quarterly breakdown of CNY 2.26 billion in Q1, CNY 2.30 billion in Q2, CNY 2.18 billion in Q3, and CNY 2.01 billion in Q4[9]. - The revenue from coal mining and washing was CNY 5,616.41 million, up 20.33% year-on-year[40]. - The electricity business generated revenue of CNY 3,133.85 million, an increase of 11.92% compared to the previous year[40]. - The sales volume of coal was 15.00 million tons, reflecting a growth of 14.12% from 13.15 million tons in the prior year[45]. Production and Capacity - Coal production reached 15.20 million tons, an increase of 13.99% compared to 13.33 million tons in the previous year[45]. - The company operates four production mines with a total production capacity of 20.5 million tons per year, and one under construction with a capacity of 3 million tons per year[31]. - The total current production capacity of the company is 20.5 million tons/year after adjustments[119]. Costs and Expenses - In 2018, the total production cost for coal mining was CNY 454,845.70 million, an increase of 9.91% compared to the previous year[49]. - The total production cost for thermal power generation was CNY 251,925.97 million, reflecting an 8.40% increase year-over-year, with power generation volume rising by 7.84% to 10.477 billion kWh[53]. - Labor costs in coal mining reached CNY 158,857.82 million, up 14.42% from the previous year, driven by an increase in workforce and performance-based salary adjustments[50]. - The company reported a decrease in management expenses by 1.54% and financial expenses by 1.56% compared to the previous year[37]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 3,374.93 million, a significant increase of 55.57% from CNY 2,169.37 million in the previous year[37]. - Accounts receivable decreased by 60.14% to CNY 129.27 million, indicating improved cash collection from sales[64]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥196,837,051.12, primarily restricted due to environmental governance deposits[65]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.1 per 10 shares, totaling CNY 25,905,418 for the year[5]. - The company has not distributed dividends in the past three years, with a cash dividend amount of CNY 25.91 million in 2018[98]. Environmental and Social Responsibility - The company has initiated a poverty alleviation plan, emphasizing the integration of party building and poverty alleviation efforts[120]. - The company invested approximately 2.39 million RMB in industry support funds for 5 households, leading to initial success in their agricultural and livestock projects[123]. - The company aims to establish a long-term mechanism for youth volunteer services to assist impoverished families[125]. - The company emphasizes a development philosophy that harmonizes resource efficiency, environmental benefits, and social benefits[128]. Governance and Compliance - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and coordination[175]. - The company has not faced any penalties from securities regulatory agencies in the past three years[168]. - The company has committed to avoiding competition with its controlling shareholder, China Coal Group, through formal commitments issued in 2016[178]. Future Outlook - The company expects a coal production of 15.6 million tons and electricity generation of 10.1 billion kWh in 2019, with total profit continuing to grow[93]. - The coal market is projected to remain stable in 2019, with coal prices expected to not experience significant fluctuations due to long-term contracts and structural reforms[89].