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    1898   CNE100000528

CHINA COAL ENERGY COMPANY LIMITED

(1898)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 10/22
5.36 HKD   -3.25%
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China Coal Energy : ANNOUNCEMENT ON PROFIT ALERT FOR THE FIRST QUARTER OF 2021

04/07/2021 | 07:00am EDT

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.

1

By Order of the Board

China Coal Energy Company Limited

Peng Yi

Vice Chairman of the board and Executive Director

Beijing, the PRC

7 April 2021

As at the date of this announcement, the executive director of the Company is Peng Yi; the non- executive directors of the Company are Du Ji'an, Zhao Rongzhe and Xu Qian; and the independent non-executive directors of the Company are Zhang Ke, Zhang Chengjie, and Leung Chong Shun.

* For identification purpose only

2

Disclaimer

China Coal Energy Company Limited published this content on 07 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2021 10:59:01 UTC.


© Publicnow 2021
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Financials
Sales 2021 196 B 30 704 M 30 704 M
Net income 2021 14 035 M 2 198 M 2 198 M
Net Debt 2021 54 807 M 8 585 M 8 585 M
P/E ratio 2021 4,50x
Yield 2021 6,58%
Capitalization 90 376 M 14 156 M 14 157 M
EV / Sales 2021 0,74x
EV / Sales 2022 0,73x
Nbr of Employees 41 593
Free-Float 42,0%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 4,40 CNY
Average target price 5,07 CNY
Spread / Average Target 15,2%
EPS Revisions
Managers and Directors
Qiao Lin Chai Chief Financial Officer
Wen Zhang Wang Chairman-Supervisory Board
Shu Dong Wang Chairman
Ke Zhang Independent Non-Executive Director
Cheng Jie Zhang Independent Non-Executive Director