pingmei coal(SH:601666) Qi Lu Wan Bao·2025-08-11 03:01Summary of Key Points Core Viewpoint - The news highlights administrative penalties imposed on Henan Tianan Shisan Mining Co., Ltd., a subsidiary of Pingmei Shenma Group (601666.SH), due to safety violations in coal mining operations [1][3]. Company Overview - Henan Tianan Shisan Mining Co., Ltd. was established in 2024 with a registered capital of 1 million RMB and is wholly owned by Pingmei Shenma Group, which was founded in 1998 with a registered capital of approximately 2.32 billion RMB [5]. Administrative Penalties - On August 7, 2025, Tianan Shisan Mining received three administrative penalty notices for safety violations, categorized as warnings and fines [3][4]. - The company had previously been fined 30,000 RMB on March 10, 2025, for operating equipment beyond its inspection validity period [4][5]. Financial Performance - For the first half of 2025, Pingmei Shenma Group reported a coal production of 14.53 million tons, a year-on-year increase of 2.26%, while coal sales volume decreased by 12.98% to 11.74 million tons [6]. - The sales revenue from coal dropped significantly by 38.58% to 9.02 billion RMB, marking the lowest half-year sales revenue in five years [6]. - The gross profit from coal sales fell by 59.12% to 1.75 billion RMB, indicating a substantial decline in profitability [6]. Quarterly Financial Data - In the first quarter of 2025, the company reported a revenue of 5.4 billion RMB, a decrease of 34.50%, with a net profit of 1.4 billion RMB, down 82.38% year-on-year [6]. - As of the end of the first quarter, the total assets were approximately 82.47 billion RMB, with total liabilities of about 52.23 billion RMB, resulting in a debt-to-asset ratio of 63.34% [6].