山西焦煤(000983) - 2021 Q4 - 年度财报

Dividend Distribution - The company plans to distribute a cash dividend of 8.00 RMB per 10 shares to all shareholders, based on a total of 4,096,560,000 shares[2] - The company has not proposed any stock bonus or capital reserve conversion into share capital for this dividend distribution[2] - The company plans to distribute a cash dividend of 8.00 CNY per 10 shares, totaling 3,277,248,000 CNY, which represents 100% of the distributable profit[108] - The total number of shares for the dividend distribution is based on 4,096,560,000 shares[108] Company Overview - The company is listed on the Shenzhen Stock Exchange under the stock code 000983[7] - The registered address of the company is No. 318, Xikuan Street, Taiyuan City, Shanxi Province, with a postal code of 030053[7] - The company’s legal representative is Zhao Jianzhe[7] - The company has a dedicated website for investor relations at http://www.xsmd.com.cn/web/shangShiGongSi[7] Financial Performance - The company's operating revenue for 2021 was CNY 45.29 billion, an increase of 34.15% compared to CNY 33.76 billion in 2020[13] - The net profit attributable to shareholders in 2021 was CNY 4.17 billion, representing a 112.94% increase from CNY 1.96 billion in 2020[13] - The net cash flow from operating activities reached CNY 11.01 billion, up 110.01% from CNY 5.24 billion in 2020[13] - The basic earnings per share for 2021 was CNY 1.0169, a 112.96% increase from CNY 0.4775 in 2020[13] - The total assets at the end of 2021 were CNY 70.50 billion, a slight decrease of 0.16% from CNY 70.61 billion at the end of 2020[13] - The net assets attributable to shareholders increased by 20.54% to CNY 22.56 billion from CNY 18.72 billion in 2020[13] - The company reported a quarterly revenue of CNY 15.59 billion in Q4 2021, the highest among the four quarters[16] - The company recognized government subsidies amounting to CNY 110.14 million in 2021, compared to CNY 55.42 million in 2020[17] - The company experienced a reversal of impairment provisions for receivables amounting to CNY 150.86 million in 2021[17] - The company’s weighted average return on equity for 2021 was 20.16%, up from 9.17% in 2020[13] Operational Highlights - The company achieved total assets of CNY 70.498 billion and equity attributable to shareholders of CNY 22.561 billion, representing a year-on-year increase of 20.54%[24] - The total operating revenue reached CNY 45.285 billion, with a year-on-year growth of 34.15%[24] - The operating costs amounted to CNY 38.535 billion, reflecting a year-on-year increase of 26.18%, with operating costs specifically at CNY 31.813 billion, up by 27.78%[24] - The net profit attributable to shareholders was CNY 4.166 billion, marking a significant year-on-year increase of 112.94%[24] - The company reported a weighted return on equity (excluding minority interests) of 20.16%, an increase of 10.99 percentage points year-on-year[24] - Research and development expenses rose to CNY 609 million, showing a year-on-year increase of 59.03%[24] - The company maintained a cash inflow of CNY 46.472 billion and a cash outflow of CNY 44.908 billion, resulting in a net increase in cash and cash equivalents of CNY 1.565 billion, up by 36.64% year-on-year[24] Market and Product Insights - The company’s main products include coking coal, thermal power, and chemical products, with a strong competitive position in the domestic coking coal supply[22] - The coal market experienced tight supply conditions throughout the year, driven by increased demand from downstream steel and coking plants[20] - Coal sales contributed ¥25.62 billion, accounting for 56.57% of total revenue, with a year-on-year growth of 44.49%[32] - The average selling price of raw coal increased by 101.74% to ¥585.28 per ton in 2021, compared to ¥290.12 per ton in 2020[31] - The total production of raw coal reached 35.69 million tons in 2021, a slight increase of 0.71% from 35.44 million tons in 2020[30] Environmental and Safety Management - The company is classified as a key pollutant discharge unit by environmental protection authorities[115] - The company has multiple emission outlets, with a total of 9 outlets for boiler exhaust pollutants[116] - The total emissions reported include 147.18 tons of particulate matter and 1,488.64 tons of sulfur dioxide, with no exceedances of emission standards[116] - The company has upgraded wastewater treatment facilities across multiple mines to meet the Shanxi Province's comprehensive wastewater discharge standards, ensuring compliance and effective monitoring of pollutant discharge[118] - The company has implemented clean energy modifications at Xiegou Mine, replacing four 20-ton coal-fired boilers with air source heat pumps and water source heat pumps[119] - The company has achieved compliance with air pollutant emission standards, with all facilities operating within the specified limits for particulate matter, sulfur dioxide, and nitrogen oxides[119] - The company has implemented noise reduction measures in its operations, ensuring that noise emissions meet regulatory standards[120] Governance and Management - The company has established an independent financial accounting system to ensure independent financial decision-making[72] - The total pre-tax remuneration for the board members, supervisors, and senior management in 2021 amounted to 689.59 million CNY[92] - The company implemented a performance-based salary system for non-independent directors, with salaries linked to annual operational performance evaluations[90] - The board of directors held a total of 6 meetings during the reporting period, with all members actively participating[93] - The audit committee conducted 4 meetings, focusing on the annual report audit communication prior to the audit process[97] Future Outlook and Strategic Initiatives - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 12% based on market expansion strategies[80] - The company plans to enhance its coal business through mergers and acquisitions to improve market influence and competitiveness[65] - The company aims to optimize traditional coking industry and enhance competitiveness in response to environmental regulations[67] - The company is focusing on sustainable development in its building materials sector by utilizing waste products from coal and power generation[67] - The company plans to produce 34.6 million tons of raw coal, 13.78 million tons of coking coal, generate 19.6 billion kWh of electricity, and produce 4.2 million tons of coke in 2022[68] - The company aims to enhance its core competitiveness and market leadership by accelerating coal resource integration and restructuring[68] Related Party Transactions - The company reported a total of 1,051,210,000 CNY in related party transactions for the year, with a significant portion attributed to procurement and labor services[149] - The procurement of raw coal and port coal accounted for 1,052,100 CNY, while fuel coal procurement reached 1,961,090 CNY[150] - The company utilized market pricing for most of its related party transactions, ensuring competitive pricing strategies[149] - The company disclosed all related party transactions in compliance with regulatory requirements, ensuring accountability[150] Compliance and Regulatory Matters - The company has not engaged in derivative investments during the reporting period, maintaining a conservative investment strategy[58] - The company has not undergone any major litigation or arbitration during the reporting period[147] - The company has maintained a good integrity status for itself and its controlling shareholders[148] - The company reported no expected impairment of entrusted loans or other financial risks during the reporting period[172]