2024-04-26 12:12Financial Performance - The total operating revenue for Q1 2024 was RMB 87,647 million, representing a year-on-year increase of 0.7%[4] - The net profit attributable to shareholders was RMB 15,884 million, reflecting a decrease of 14.7% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 16,460 million, down 11.2% year-on-year[4] - The total profit for Q1 2024 was 13,406 million RMB, reflecting a decrease of 23.0% from 17,416 million RMB in Q1 2023[21] - Gross profit for Q1 2024 was RMB 22,177 million, down from RMB 24,454 million in Q1 2023, reflecting a decrease of 9.3%[33] - The total comprehensive income for Q1 2024 was CNY 18,605 million, a decrease from CNY 21,293 million in Q1 2023, representing a decline of approximately 12.9%[34] Cash Flow - The net cash flow from operating activities was RMB 28,553 million, a decrease of 2.2% compared to the previous year[4] - The net cash flow from investing activities was RMB (25,005) million, an increase of 124.5% from RMB (11,140) million in the previous year, attributed to an increase in fixed deposits during the reporting period[10] - The net cash flow from financing activities was RMB (1,068) million, a decrease of 56.3% compared to RMB (2,443) million in the same period last year, due to higher loan repayments in the previous year[10] - The total cash inflow from operating activities in Q1 2024 was CNY 97,672 million, an increase from CNY 94,881 million in Q1 2023, representing an increase of approximately 2.9%[36] - The cash outflow for purchasing goods and services in Q1 2024 was CNY (40,969) million, compared to CNY (37,951) million in Q1 2023, indicating an increase of about 5.3%[36] Assets and Liabilities - The total assets at the end of Q1 2024 amounted to RMB 653,409 million, an increase of 3.7% from the end of the previous year[4] - The total liabilities as of March 31, 2024, were RMB 153,996 million, compared to RMB 151,761 million at the end of 2023, showing an increase of 1.5%[32] - The equity attributable to shareholders increased to RMB 426,379 million, up 4.3% from the end of the previous year[4] Production and Sales - In Q1 2024, the company achieved a coal production of 81.3 million tons, a 1.5% increase from 80.1 million tons in Q1 2023[17] - Coal sales volume reached 117.1 million tons, up 8.8% from 107.6 million tons in the same period last year[17] - The sales volume of self-produced coal was 80.3 million tons, a 1.1% increase from 79.4 million tons in the same period last year[17] - The company experienced a 30.5% increase in purchased coal volume, reaching 36.8 million tons compared to 28.2 million tons in Q1 2023[17] - The total sales volume of polyethylene was 89.5 thousand tons, down 1.8% from 91.1 thousand tons in Q1 2023[17] Costs and Expenses - The operating costs for Q1 2024 were RMB 65,470 million, up from RMB 62,588 million in Q1 2023, marking an increase of 3.0%[33] - The company reported a significant increase in management expenses by 13.9% to RMB 2,429 million, primarily due to higher labor costs[8] - The unit production cost of self-produced coal increased by 12.5% to RMB 190.6 per ton in Q1 2024, primarily due to a significant rise in labor costs, which surged by 106.3%[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 142,062, with the largest shareholder, State Energy Investment Group, holding 69.52% of shares[11] - The total shares held by the controlling shareholder, State Energy Group, reached 13,824,302,724 shares, accounting for 69.58% of the total share capital[14] - As of March 31, 2024, the controlling shareholder has cumulatively increased its A-share holdings by 11,593,528 shares, amounting to approximately RMB 365.28 million, which is 73.1% of the planned minimum increase of RMB 500 million[13] Future Plans and Investments - The company plans to invest approximately RMB 5 billion in the fifth phase of the Huanghua Port project, which aims to enhance coal loading capacity by about 50 million tons per year[28] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[30] - The company plans to increase its A-share holdings through its wholly-owned subsidiary, with a maximum purchase price of RMB 33.10 per share[13] Electricity Generation - The company reported a total electricity generation of 55.35 billion kWh, representing a 7.0% increase from 51.71 billion kWh in Q1 2023[17] - The company achieved a 7.1% increase in domestic electricity sales volume, reaching 55.02 billion kWh in Q1 2024[24] - The company's total installed capacity of power generation units reached 44,801 MW, with coal-fired generation capacity at 43,244 MW as of the end of the reporting period[25] - In Q1 2024, the average selling price of electricity was RMB 409 per MWh, a decrease of 2.4% compared to RMB 419 per MWh in Q1 2023[27]