YANKUANG ENERGY(600188) 证券日报之声·2025-03-30 08:43Core Viewpoint - Yancoal Energy Group Co., Ltd. reported a resilient performance in its 2024 annual report despite challenges in the coal market, achieving a revenue of 139.12 billion yuan and a net profit of 14.43 billion yuan [1] Financial Performance - The company plans to distribute a total dividend of 0.77 yuan per share, amounting to 7.73 billion yuan, following a mid-year dividend of 0.23 yuan per share and a proposed year-end dividend of 0.54 yuan per share [1] - Yancoal achieved a record high in its main product output, with total coal production reaching 142 million tons, an increase of 10.39 million tons year-on-year [1] - The production of chemical products was 8.7 million tons, up by 110,000 tons year-on-year, maintaining a leading position in the industry [1] Cost Management - The company implemented "eight hard measures" to reduce costs and improve efficiency, resulting in a 3.4% decrease in coal sales cost to 337.57 yuan per ton [1] - The unit sales cost of methanol decreased by 13.9%, while the unit sales cost of acetic acid fell by 4.6%, indicating significant optimization in chemical unit costs [1] Market Outlook - For 2025, the company anticipates a continued loose supply in the coal market with limited price declines, expecting the average price to remain within a favorable profit range [2] - The chemical product market is expected to stabilize, with strong support for high-end chemical product prices [2] - Yancoal aims to enhance its production capacity and control costs to maintain profitability amid declining coal prices, targeting coal production of 155 to 160 million tons and chemical production of 8.6 to 9 million tons in 2025 [2] - The company plans to reduce coal costs by another 3% and aims to lower the asset-liability ratio to below 60% [2]