Zheng Quan Ri Bao·2025-08-13 23:12Core Viewpoint - China Shenhua advocates a long-term and stable value investment philosophy while actively engaging in market value management and providing high cash dividends to investors [1][2][3] Group 1: Company Overview - China Shenhua was established in November 2004 and listed on the Hong Kong Stock Exchange in June 2005, followed by the Shanghai Stock Exchange in October 2007 [1] - The company is the largest coal listed company in China and globally, with significant coal resources in regions such as Shendong, Zhungeer, Shengli, and Baorixile [1] - In 2019, the company sold 447.1 million tons of coal and generated a total electricity sales volume of 144.04 billion kilowatt-hours [1] - The company operates a large-scale clean coal power generation capacity and a comprehensive railway transportation network, with a self-owned railway transport turnover of 285.5 billion ton-kilometers in 2019 [1] Group 2: Investor Relations and Dividend Policy - The company prioritizes the protection of investors' legal rights and shares its development achievements with shareholders [2] - China Shenhua has a stable cash dividend policy, committing to a minimum of 35% of net profit attributable to shareholders for cash dividends, with an actual payout ratio around 40% [2] - For the years 2019 to 2021, the company increased its cash dividend ratio to no less than 50%, with a 2019 payout ratio reaching 60% [2] - Since its listing in 2005, the company has distributed cash dividends 18 times, totaling 13.48 yuan per share and a total cash dividend amount of 265 billion yuan [2] Group 3: Shareholder Engagement - China Shenhua emphasizes a balanced development between shareholders and the company, fostering a cooperative environment between major and minority shareholders [3] - The company actively responds to shareholder concerns, including authorizing share buybacks to manage market value and protect investor interests [2]