Core Viewpoint - China Coal Energy Company has conducted an assessment of its financial subsidiary, China Coal Finance Co., Ltd., confirming its operational qualifications and risk management practices, which align with regulatory requirements [1][10]. Group 1: Company Overview - China Coal Finance Co., Ltd. was established with a registered capital of 9 billion yuan and operates under the governance of China Coal Energy Group, which holds a 9% stake [2]. - The company’s business scope includes accepting deposits, providing loans, handling bill discounting, and offering financial advisory services among others [1][2]. Group 2: Internal Control and Governance - The company has established a governance structure comprising a shareholders' meeting, a board of directors, and an executive team, with various committees to ensure effective oversight [2][3]. - Internal control measures are in place, including a comprehensive risk management framework that adheres to modern corporate governance standards [3][4]. Group 3: Risk Management - China Coal Finance employs a three-line defense model for risk management, with business departments identifying risks, a risk management department overseeing compliance, and an audit department evaluating the overall risk management system [4][6]. - The company has developed various management protocols to control financial risks, including a dual-review system for fund allocation and strict adherence to regulatory requirements [5][6]. Group 4: Financial Performance - As of June 30, 2025, the total assets of China Coal Finance amounted to 96.641 billion yuan, with a net profit of 543 million yuan for the first half of 2025 [7][8]. - The company maintains a capital adequacy ratio of 25.46%, significantly above the regulatory minimum, indicating strong financial health [8]. Group 5: Regulatory Compliance - China Coal Finance has consistently met regulatory requirements since its inception, with no incidents of financial misconduct or significant operational risks reported [9][10]. - The company’s internal controls and risk management practices have been evaluated as effective, with no major risk events occurring as of mid-2025 [7][10].

Group 1: Financial Performance - In 2024, China Petroleum Finance achieved a net profit of 60.4 billion CNY, maintaining steady growth through capital market opportunities and expanding foreign exchange business [2] - The main sources of assets and liabilities for China Petroleum Finance are from China National Petroleum Corporation and its subsidiaries, functioning as an "internal bank" and "treasury platform" [2] Group 2: Overseas Operations - The overseas business is primarily conducted by China Petroleum Finance (Hong Kong) Co., Ltd., which provides financial services for the group and its subsidiaries [3] - The business scope includes fund pool management, fund settlement, lending, investment, and foreign exchange services [3] Group 3: Risk Management and Impairment - Changes in credit impairment provisions are influenced by loan scale and customer structure, adhering to the principle of prudence [3] - The company maintains a low-risk preference and strengthens risk management to ensure stable development [3] Group 4: Banking Operations - Kunlun Bank aims to stabilize its interest margin through strategies focused on risk control, asset-liability structure adjustment, and business growth [4] - As of March 2025, Kunlun Bank's total assets increased by 2.3 billion CNY compared to the beginning of the year, with operating income also showing a year-on-year increase [4] Group 5: Trust Business Development - Kunlun Trust is focusing on compliance management and risk control in response to new regulations, aiming to enhance operational professionalism [4] - The company is committed to serving the real economy and reducing reliance on single business areas to improve overall risk management capabilities [4]

Group 1: Financial Services Overview - China Oil Finance is a non-bank financial institution approved by the People's Bank of China, providing services such as payment and settlement, loans, foreign exchange trading, and financial chain services [2] - Kunlun Bank, approved by the former China Banking Regulatory Commission, primarily engages in public deposit acceptance, loan issuance, domestic and international settlement, and public securities investment fund sales [2] Group 2: Trust Business Development - Kunlun Trust focuses on three main categories: asset service trust, asset management trust, and public welfare trust, covering various services including equity investment and family trusts [3] - Future efforts will aim to enhance the proportion of actively managed trusts and increase the dividend ratio of equity investment trusts, while continuously seeking efficiency improvements and cost reductions [3] Group 3: Regulatory Impact - The revised "Management Measures for Financial Leasing Companies" by the National Financial Regulatory Administration in 2024 will positively impact Kunlun Financial Leasing [3] - Kunlun Financial Leasing has consistently adhered to regulatory requirements, and the new regulations will provide clearer guidelines for business operations, including enhanced risk management and business classification supervision [3]