2024-03-22 16:00Financial Performance - In 2023, the company's operating revenue was CNY 343,074 million, a decrease of 0.4% compared to CNY 344,533 million in 2022[17]. - The total profit for 2023 was CNY 87,176 million, reflecting a decline of 9.4% from CNY 96,247 million in 2022[17]. - The net profit attributable to shareholders was CNY 59,694 million, down 14.3% from CNY 69,648 million in 2022[17]. - The net cash flow from operating activities decreased by 18.3% to CNY 89,687 million from CNY 109,734 million in 2022[17]. - The total assets at the end of 2023 were CNY 630,131 million, an increase of 1.3% from CNY 621,843 million at the end of 2022[17]. - The total liabilities decreased by 6.6% to CNY 151,761 million from CNY 162,524 million in 2022[17]. - The basic earnings per share for 2023 were CNY 3.004, a decrease of 14.3% from CNY 3.505 in 2022[18]. - The weighted average return on equity for 2023 was 14.88%, down 3.20 percentage points from 18.08% in 2022[18]. - The company's net assets attributable to shareholders increased by 3.8% to CNY 408,692 million at the end of 2023 from CNY 393,900 million at the end of 2022[17]. - The asset-liability ratio decreased to 24.1% in 2023 from 26.1% in 2022, a decline of 2.0 percentage points[18]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.26 per share for the fiscal year 2023, totaling RMB 44,903 million based on the total share capital of 19,868,519,955 shares as of December 31, 2023[2]. - The company's available reserves for distribution to shareholders amounted to 201,416 million RMB as of December 31, 2023[81]. Operational Highlights - The company produced 324.5 million tons of coal, exceeding the target by 4.9%[42]. - The coal sales volume reached 450 million tons, an increase of 7.7% year-on-year[42]. - The total power generation increased by 11.0% to 212.26 billion kWh, while total electricity sales rose by 11.1% to 199.75 billion kWh[58]. - The average utilization hours for coal-fired power generation increased to 5,221 hours in 2023, up by 270 hours year-on-year[104]. - The company achieved a sales volume of 370.5 million tons to external customers, representing 82.3% of total sales, with an average price of 598 RMB/ton[90]. Investment and Capital Expenditure - The company plans to allocate 368.04 billion RMB in capital expenditures for 2024, down from 419.59 billion RMB in 2023[153]. - The capital expenditure for coal business in 2024 is planned at 9.816 billion RMB, significantly lower than the 18.872 billion RMB spent in 2023[152]. - The company invested 9,028 million RMB in subsidiaries and associates in 2023, a 66.7% decrease from 27,124 million RMB in 2022, focusing on coal, power, and leasing projects[129]. Risk Management and Compliance - The company emphasizes the importance of safety production, environmental protection, market competition, and compliance as key risks in its operations[3]. - The company is actively monitoring compliance risks associated with its extensive asset scale and international operations[164]. - The company is enhancing its risk assessment and management mechanisms to effectively reduce the impact of environmental, social, and governance-related risks, with no significant changes in risk severity compared to the previous reporting period[168]. Strategic Initiatives and Future Outlook - The company is committed to achieving carbon peak and carbon neutrality goals, focusing on clean and efficient coal utilization[37]. - The company plans to invest in renewable energy projects, including wind and solar, to ensure sustainable growth in the future[148]. - The company is focusing on green transformation and aims to strengthen environmental monitoring and pollution prevention measures[159]. - The company anticipates increased competition in the coal market due to the release of domestic coal production capacity and changes in the international energy market[160]. Corporate Governance - The company has established a comprehensive corporate governance structure that complies with relevant regulations and guidelines, ensuring effective decision-making processes[170]. - The company has a well-defined corporate governance policy that includes clear responsibilities for the chairman and the general manager, ensuring independence from its controlling shareholder[173]. - The company has implemented a shareholder communication policy that has been reviewed for effectiveness[180]. Research and Development - R&D investment totaled 4,453 million yuan in 2023, a decrease of 17.6% from 5,404 million yuan in 2022, accounting for 1.3% of operating revenue[71]. - The number of R&D personnel was 3,030, accounting for 3.6% of the total workforce, with 241 invention patents granted in 2023[73].