Shaanxi Heimao(SH:601015)2024-04-10 10:35Group 1: Industry Challenges and Company Responses - In 2023, the coking industry faced significant challenges due to high raw coal prices, a sharp decline in coke market prices, and weakened steel production and sales, leading to a substantial decrease in industry profitability [2][3] - The company implemented various measures to enhance economic operations and reduce costs, including increasing the proportion of quality suppliers, optimizing production loads based on market conditions, and developing new customer relationships [3][4] Group 2: Financial Performance - The company's net profit in 2023 decreased by 281.7% compared to the previous year, primarily due to high raw material costs and a decline in sales prices, resulting in a lower overall gross margin [3][4] - The company did not distribute profits in 2023 due to losses, in accordance with its articles of association, to ensure sustainable development and meet future funding needs [4] Group 3: Future Plans and Strategic Developments - For 2024, the company plans to continue cost reduction and efficiency improvement initiatives, advance technological upgrades, and expedite project developments in Inner Mongolia and Xinjiang [4] - The company strategically acquired 100% equity of Jinbaolifeng for 553 million yuan and established a wholly-owned subsidiary in Xinjiang, investing 339 million yuan to acquire 100% equity of Yangxia Mining [4]