董事长辞任，中国神华营收利润再次下滑

Core Viewpoint - China Shenhua Energy Co., Ltd. announced the resignation of Chairman Lv Zhiyun due to retirement, leading to another vacancy in the chairman position since July 2022 [1][3] Group 1: Management Changes - Lv Zhiyun, who served as chairman since December 2021, has resigned, and Zhang Changyan has been appointed as the new authorized representative [1][3] - The chairman position has been vacant since the resignation of former chairman Wang Xiangxi in July 2022 [3] Group 2: Financial Performance - In 2024, China Shenhua reported total revenue of 338.375 billion yuan, a decrease of 1.37% year-on-year, following a 0.4% decline in 2023 [5] - The net profit attributable to shareholders was 58.671 billion yuan, down 1.71% year-on-year, compared to a 14.3% decline in 2023 [5] - The company has experienced a consecutive decline in revenue and profit over the past two years [4] Group 3: Operational Highlights - Total assets reached 658.068 billion yuan, an increase of 4.4% year-on-year [5] - The net cash flow from operating activities was 92.248 billion yuan, reflecting a growth of 4.1% year-on-year [5] - China Shenhua plans to distribute a cash dividend of 2.26 yuan per share, with a total dividend payout of approximately 45 billion yuan, maintaining a high dividend payout ratio of 77% [5] Group 4: Business Segments - The company operates an integrated business model across coal production, transportation, and conversion, with coal being the largest source of revenue and profit [6] - In 2024, the profit contributions from various segments were 67% from coal, 14% from power generation, 19% from transportation, and 0% from coal chemical [6] - The company achieved a coal production volume of 327 million tons, a year-on-year increase of 0.8%, and a coal sales volume of 459 million tons, up 2.1% [7] Group 5: Resource Reserves - As of December 31, 2024, the coal reserves of China Shenhua amounted to 3.436 billion tons, an increase of 1.78 billion tons from the end of 2023 [8] - The recoverable coal reserves were reported at 1.509 billion tons, an increase of 1.71 billion tons from the end of 2023 [8]