冀中能源(000937) - 冀中能源调研活动信息

Production and Sales Performance - In 2021, the company's raw coal production was 25.86 million tons, a decrease of 1.72 million tons year-on-year, primarily due to capacity reduction in certain mines [2] - The planned raw coal production for 2022 is 25.84 million tons, with expected revenue of 32 billion yuan [2] - In Q1 2022, raw coal production was 6.62 million tons, remaining stable year-on-year; the production of washed coal was 3.26 million tons, an increase of 400,000 tons [3] Pricing and Revenue - The average selling price of washed coal in Q1 2022 was 1,747.13 yuan/ton, an increase of 696.62 yuan compared to the same period last year [3] - The average selling price of mixed washed coal in Q1 2022 was 498.61 yuan/ton, a year-on-year increase of 178.72 yuan [3] - The pricing of washed coal is based on annual contracts with monthly adjustments according to market conditions [3] Cost and Profitability - In 2021, the unit cost of raw coal increased significantly due to historical operational performance, wage increases, and rising material costs, with a total increase of 500 million yuan in relocation costs [4] - The company aims to control production costs in 2022 through various efficiency improvement measures [4] - In Q1 2022, the revenue from the company's coking business was 847 million yuan, with a net profit of 8.5 million yuan, affected by declining coking prices [5] Dividend Policy - The high dividend payout in 2021 was attributed to sustained high coal prices and the best operational performance in the company's history, with a net profit of 2.739 billion yuan [5] - Future dividend ratios will depend on profitability and operational performance, with historical payouts around 40% of annual profits [5] Impact of External Factors - The second quarter's operations were slightly affected by the pandemic, particularly in road transport, but overall sales are expected to remain stable due to effective rail transport [5]