JZEG(SZ:000937)2019-03-28 16:00Financial Performance - The company's operating revenue for 2018 was approximately ¥21.46 billion, representing a 5.28% increase compared to ¥20.38 billion in 2017[10]. - The net profit attributable to shareholders for 2018 was approximately ¥872 million, a decrease of 18.07% from ¥1.06 billion in 2017[10]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥949 million, down 13.94% from ¥1.10 billion in 2017[10]. - The net cash flow from operating activities for 2018 was approximately ¥3.10 billion, a decline of 28.62% compared to ¥4.24 billion in 2017[10]. - Basic earnings per share for 2018 were ¥0.2468, down 18.06% from ¥0.3012 in 2017[10]. - Total operating revenue for 2018 was CNY 21,458,411,715.88, representing a year-on-year increase of 5.28% from CNY 20,381,753,946.22 in 2017[27]. - The net profit for the year was CNY 1,049,157,227.47, slightly down from CNY 1,089,594,515.88, reflecting a decrease of approximately 3.7%[192]. - The total comprehensive income for the current period is CNY 823,361,723.29, down from CNY 1,215,167,035.69 in the previous period[195]. Assets and Liabilities - Total assets at the end of 2018 were approximately ¥45.77 billion, a slight decrease of 0.03% from ¥45.78 billion at the end of 2017[11]. - The net assets attributable to shareholders at the end of 2018 were approximately ¥19.90 billion, an increase of 3.13% from ¥19.29 billion at the end of 2017[11]. - The company's total assets slightly decreased to ¥45,766,149,173.63 from ¥45,778,725,805.08, indicating a marginal decline of approximately 0.03%[185]. - Total liabilities decreased to CNY 19,871,107,213.79 from CNY 20,788,623,658.70, showing a reduction of about 4.4%[190]. - The company's long-term borrowings decreased to ¥3,182,786,336.80 from ¥3,948,559,870.00, representing a decline of about 19.43%[186]. Revenue Segmentation - Coal segment contributed CNY 17,619,051,148.47, accounting for 82.11% of total revenue, with a year-on-year growth of 3.13%[27]. - Chemical segment revenue increased by 24.65% to CNY 3,308,121,473.42, representing 15.42% of total revenue[27]. - Power segment revenue decreased significantly by 54.33% to CNY 99,470,420.31, contributing only 0.46% to total revenue[27]. Production and Sales - In 2018, the company achieved a raw coal production of 28.30 million tons, an increase of 2.78% year-on-year, and a total production of premium coal at 11.79 million tons, a decrease of 9.68% year-on-year[23]. - The total sales volume of coal reached 2,844.77 million tons, an increase of 3.13% compared to 2,758.39 million tons in 2017[31]. - The average selling price of raw coal increased by 11.12% year-on-year to 308.50 yuan per ton, while the average selling price of premium coal rose by 9.67% to 1,069.58 yuan per ton[25]. Cash Flow and Investments - The net cash flow from operating activities decreased by 28.62% to ¥3,104,024,885.60 compared to the previous year[42]. - The total cash inflow from investment activities increased significantly by 318.68% to ¥9,976,072,506.07, primarily due to changes in structured deposits[42]. - The total investment amount for the reporting period was ¥21,000,000.00, a significant decrease of 94.00% compared to the previous year's investment of ¥350,000,000.00[48]. Research and Development - Research and development expenses increased significantly to approximately 127.79 million yuan, a 3332.10% increase from 3.72 million yuan in 2017[38]. - The number of R&D personnel decreased by 4.04% to 2,209, while R&D investment as a percentage of operating income rose to 0.60% from 0.18%[40]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.00 per 10 shares to all shareholders, based on the total share capital as of the dividend record date[2]. - The cash dividend for 2018 was 353,354,685 yuan, representing 40.52% of the net profit attributable to shareholders[65]. - The cash dividend for 2017 was also 353,354,685 yuan, which accounted for 33.20% of the net profit attributable to shareholders[65]. Environmental and Social Responsibility - The company has established online monitoring systems for wastewater discharge, ensuring compliance with environmental standards, with chemical oxygen demand (COD) at 15.48 mg/L and ammonia nitrogen at 0.85 mg/L for the Dongpang Mine wastewater treatment plant[108]. - The company is involved in the construction and beautification of community infrastructure, including cultural squares and street lighting in local villages[106]. - The total investment in poverty alleviation projects amounted to 24.4 million yuan, focusing on agricultural and forestry industry development[105]. Governance and Compliance - The company has established a framework for addressing potential competition in business expansion, requiring prior consultation before investment decisions[69]. - The company has committed to strict compliance with legal decision-making procedures for future related transactions, enhancing transparency and governance[69]. - The company has acknowledged the existence of some degree of competition with its controlling shareholder, which has been addressed through commitments and measures to clarify and regulate the situation[149]. Management and Personnel - The total number of employees in the company is 39,004, with 34,059 in the parent company and 4,945 in major subsidiaries[141]. - The professional composition includes 26,192 production personnel, 935 sales personnel, 2,351 technical personnel, 413 financial personnel, and 9,113 administrative personnel[142]. - The management team includes experienced professionals with backgrounds in engineering, finance, and management, contributing to operational efficiency[137]. Market Outlook - The macroeconomic outlook for 2019 indicates a stable growth target of 6%-6.5%, which is expected to support coal and electricity demand[26]. - The company anticipates stable coal consumption in 2019, with limited growth, while domestic coal supply capacity is expected to increase, leading to a gradual easing of the coal market supply and demand[59].