Financial performance
Due to the decline in coal price, the company’s sales revenue in 2024 was 124.53 billion
yuan (RMB, the same below) with a year-on-year decrease of 6.2%, of which the coal
business revenue was 91.62 billion yuan with a year-on-year decrease of 10.2%, and the
output of commercial coal reached 142 million tons with a year-on-year increase of 10.39
million tons. Among them, the output of Shaanxi-Inner Mongolia base increased by 6.66
million tons year-on-year, becoming the largest core growth pole which contributed the
most. The output of Australian base increased by 3.43 million tons year-on-year, firmly
ranking as Australia’s largest dedicated coal producer; coal chemical business revenue was
25.22 billion yuan with a year-on-year decrease of 4.5%, and chemical product output
reached 8.70 million tons with a year-on-year increase of 1.15 million tons; power
generation business revenue was 2.54 billion yuan with a year-on-year decrease of 2.0%;
other business revenue was 5.15 billion yuan with a year-on-year increase of 196.5%. Gross
profit was 41.83 billion yuan with a year-on-year decrease of 17.3%. The net profit
attributable to the parent company was 14.06 billion yuan with a year-on-year decrease of
26.9%. EPS was 1.42 yuan with a year-on-year decrease of 27.9%. The annual total dividend
was 0.77 yuan per share, indicating that the company attached importance to shareholders’
returns.
Good results in cost control, continued efforts to reduce costs and increase efficiency in
2025
The company strictly controlled production costs and period expenses with remarkable
results. In 2024, the sales cost of self-produced coal per ton was 345.4 yuan with a year-onyear decrease of 5.4%; the unit sales cost of methanol was 1,454 yuan/ton with a year-onyear decrease of 14.6%; the unit sales cost of acetic acid was 2,147 yuan/ton with a year-onyear decrease of 6.8%. The company actively optimized its debt structure, reduced financial
expenses, and further reduced its debt-to-asset ratio. In 2024, the company’s average
financing rate was 2.98%, falling to the lowest level in history; it implemented H-share
issuance and raised 4.5 billion yuan; effectively saved 830 million yuan in financial expenses;
and reduced its debt-to-asset ratio to 63%. In 2025, the company will continue to promote
the strategy of reducing costs and increasing efficiency and try to reduce the sales cost per
ton of coal by 3%; the sales cost of methanol will decline by 60 yuan/ton; and the sales cost
of acetic acid will not increase. The comprehensive financing cost will decline by 6%,
financial expenses will decline by 300 million yuan, and the debt-to-asset ratio is expected to
be below 60%.
Spending more than RMB 10 billion to acquire Xibei Mining, coal production capacity is
expected to be released faster
Recently, the company issued an announcement that it plans to spend 14.07 billion yuan to
acquire 51% equity of Xibei Mining, a subsidiary of its controlling shareholder(Shandong
Energy Group Company Limited). Currently, Xibei Mining has 12 coal enterprises under its
jurisdiction, holds 14 mining rights, has a total approved production capacity of 61.05 million
tons/year and owns 10 production mines with an approved production capacity of 36.05
million tons/year. As of the end of November 2024, Xibei Mining assessed that the amount
of resources utilized was 6.35 billion tons and the reserves were 3.65 billion tons, and the
coal resource reserves were quite rich. This transaction will help increase Yankuang Energy’s
revenue and net profit, increase the company’s coal resource reserves and the company’s
coal production capacity is expected to be released faster.
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本科主修市場行銷和英語，並於香港浸會大學獲得經濟學碩士學位。現為輝立証券持牌分析師，主要負責能源和公用事業等板塊的研究。曾在大型銀行、券商和資產管理公司工作，對於期貨和大宗商品衍生品領域擁有銷售、研究分析和市場推廣等工作經驗。 Margaret, a holder of a Bachelor`s degree in Marketing and English and a Master`s degree in Applied Economics from Hong Kong Baptist University, is currently employed as a licensed analyst at Phillip Securities. She specializes in conducting research focusing on the energy and utilities sectors. Prior to her current position, Margaret gained valuable work experience in a large bank, securities firm, and asset management companies. Her expertise lies in sales, research analysis, and marketing within the fields of futures and commodities derivatives.
