Zheng Quan Zhi Xing·2025-08-22 09:22Core Viewpoint - The company reported a significant decline in revenue and profit for the first half of 2025, attributed to falling coal prices and increased operational costs, while maintaining a focus on cost management and efficiency improvements [1][4][5]. Financial Performance - The net profit attributable to shareholders for the first half of 2025 was CNY 7,325,265,000, a decrease of 21.3% compared to CNY 9,787,792,000 in the same period last year [1][2]. - Total revenue for the period was CNY 74,435,996,000, down 19.9% from CNY 92,983,870,000 year-on-year [1][7]. - The total profit for the period was CNY 11,938,914,000, reflecting a decline of 28.6% from CNY 16,719,881,000 [1][7]. - The operating cash flow decreased by 48.5%, amounting to CNY 7,665,547,000 compared to CNY 14,890,089,000 in the previous year [1][7]. Production and Sales - The company produced 6,734,000 tons of coal in the first half of 2025, an increase of 1.3% from 6,650,000 tons in the same period of 2024 [4][5]. - Coal sales volume was 12,868,000 tons, down 3.6% from 13,355,000 tons year-on-year [4][5]. - The average selling price of self-produced coal decreased by CNY 114 per ton, leading to a revenue drop of CNY 76.39 billion [5]. Cost Management - The unit sales cost of self-produced coal was CNY 262.97 per ton, a reduction of CNY 29.91 per ton compared to the previous year [5]. - The company achieved a gross profit of CNY 143.47 billion from its coal business despite the price decline [5]. Shareholder Returns - The company plans to distribute a cash dividend of CNY 2,197,579,500, which is 30% of the net profit attributable to shareholders, translating to CNY 0.166 per share [1][2]. Shareholding Structure - As of June 30, 2025, the largest shareholder, China Coal Energy Group Co., Ltd., holds 57.42% of the shares, while HKSCC Nominees Limited holds 29.87% [2][3]. Debt and Financial Health - The company's total assets at the end of the reporting period were CNY 356,961,533,000, a slight decrease of 0.3% from the previous year [1][7]. - The debt-to-asset ratio was reported at 45.0%, down from 46.3% year-on-year, indicating improved financial stability [7].