Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
ANNOUNCEMENT ON PROFIT ALERT FOR THE FIRST QUARTER OF 2021
This announcement is made by China Coal Energy Company Limited (the "Company" and, together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).
The board of directors of the Company (the "Board") hereby informs the Company's shareholders and potential investors that based on preliminary estimates of the unaudited consolidated management accounts of the Group in accordance with International Accounting Standard 34, the profit attributable to equity holders of the Company for the three months ended 31 March 2021 is expected to range from RMB3,937 million to RMB4,042 million (the same period of 2020: RMB 1,059.3 million), representing a year-on-year increase of 272% to 282%.
The Board considers that the expected increase in profit for the three months ended 31 March 2021 is due to the facts that: in the first quarter of 2021, macro economy maintained steady recovery and the selling price of main products recorded a year-on-year soar. The Group continued to strengthen cost and expense control and scientifically coordinated safety, production, product quality and sales and other tasks, and the coal production and sales scale was further expanded. Meanwhile, the profit attributable to the associates and joint ventures of the Group recorded a year-on-year increase.
The information in this announcement is based on preliminary estimates by the management of the Company with reference to the consolidated management accounts of the Group in accordance with International Accounting Standard 34 and has not been audited by auditors. Detailed accurate financial statistics will be disclosed in the Company's 2021 first quarterly report to be published before the end of April 2021.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.