SHENHUO COAL&POWER(SZ:000933)2022-12-08 09:18Group 1: Corporate Governance and Investor Relations - The company is the first listed firm on the Shenzhen Stock Exchange to adopt a combination of online and on-site voting for shareholder meetings, implementing cumulative voting for the election of directors and supervisors [3] - The company emphasizes investor relations management, providing multiple channels for investors to access information, including a dedicated interactive platform and annual performance briefings [3] - Participation in the "Integrity Covenant Sunshine Action" enhances transparency and communication with investors and media [3] Group 2: Industry Challenges and Strategic Adjustments - The aluminum industry is currently facing challenges, with a 20% reliance on imported alumina, while the company’s electrolytic aluminum production capacity is around 1 million tons, requiring approximately 2 million tons of alumina annually [4] - The company is adjusting its development strategy in response to the declining coal market, focusing on the westward shift of its coal-electricity-aluminum strategy and accelerating project construction in Xinjiang [4][5] - Measures include shutting down unprofitable small coal mines and increasing the production of high-efficiency coal [5] Group 3: Financial Performance and Market Outlook - The rise in electrolytic aluminum prices has allowed the company to turn a profit in Q3, with market prices expected to stabilize around 13,500-14,000 RMB per ton for the next 9 to 12 months [5] - The company’s strategic shift to Xinjiang is expected to yield cost savings despite higher labor and transportation costs, with overall aluminum production costs projected to decrease by approximately 1,500 RMB per ton compared to inland operations [7]