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    1898   CNE100000528

CHINA COAL ENERGY COMPANY LIMITED

(1898)
  Report
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

China Coal Energy : FIRST QUARTERLY REPORT 2021

04/22/2021 | 05:56am 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.

中國中煤能源股份有限公司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 01898)

FIRST QUARTERLY REPORT 2021

Pursuant to the regulations and rules of China Securities Regulatory Commission and Shanghai Stock Exchange, China Coal Energy Company Limited (the "Company" or "China Coal Energy", together with its subsidiaries, collectively the "Group") is required to publish reports on a quarterly basis.

This announcement is made pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

This announcement is a summary of the 2021 first quarterly financial report of the Company for the three months ended 31 March 2021. The full text of the quarterly financial report will be available on the website of The Stock Exchange of Hong Kong Limited (the "HKSE") on 22 April 2021. The full text of the quarterly financial report is in Chinese only.

  1. IMPORTANT NOTICE

1.1

The board of directors and the supervisory committee of the Company together with the

directors, supervisors and the senior management thereof guarantee that the content of this

quarterly report is true, accurate and complete and does not contain any false representations,

misleading statements or material omissions, and severally and jointly accept legal

responsibility for the content of this report.

1.2

Absence of director

Name of absent

Position of absent

director

director

Reason for absence

Name of proxy

Zhao Rongzhe

Director

Other work commitment

Du Ji'an

1.3

Peng Yi (the person-in-charge of the Company), Chai Qiaolin (the person-in-charge of

accounting affairs) and Zheng Weili (the person responsible for the accounting department,

i.e. head of the accounting department) guarantee that the financial statements set out in this

quarterly report are true, accurate and complete.

1.4

The first quarterly report of the Company is unaudited.

  • For identification purpose only

1

  1. BASIC INFORMATION OF THE COMPANY

2.1 Major financial data

Unit: RMB' 000

Increase/decrease

at the end of the

reporting period

As at the end of

as compared to

the reporting

As at the end of

the end of the

period

the previous year

previous year (%)

Total assets

289,709,012

281,686,377

2.8

Net assets attributable to shareholders

of the listed company

104,900,725

100,857,446

4.0

From the

beginning of the

previous year to

From the

the end of the

Increase/decrease

beginning of the

corresponding

compared to the

year to the end

period of the

corresponding

of the reporting

previous year

period of the

period

(Restated)

previous year (%)

Net cash flows generated from

operating activities

5,835,827

4,596,433

27.0

From the

beginning of the

previous year to

From the

the end of the

Increase/decrease

beginning of the

corresponding

compared to the

year to the end

period of the

corresponding

of the reporting

previous year

period of the

period

(Restated)

previous year (%)

Operational revenue

44,442,528

27,520,485

61.5

Net profit attributable to shareholders

of the listed company

3,509,206

648,488

441.1

Net profit attributable to shareholders

of the listed company net of

nonrecurring gains or losses

3,478,859

625,328

456.3

Weighted average return on net assets

Increased by 2.75

(%)

3.41

0.66

percentage points

Basic earnings per share (RMB per

share)

0.26

0.05

420.0

Diluted earnings per share (RMB per

share)

0.26

0.05

420.0

2

Non-recurring gains or losses and relevant amounts √ Applicable Not applicable

Unit: RMB' 000

Amount for the

Items

current period

Explanations

Profit or loss on disposal of non-current assets

3,156

-

Government grants included in profit or loss for the

current period, excluding those closely related to

the Company's ordinary business and granted on an

ongoing basis in fixed amount or volume according

to certain principles under national policies

27,278

-

Gain or loss from external entrusted loans

7,422

-

Other non-operating income and expenses apart from

the foregoing

3,176

-

Gain or Loss on other non-recurring items

293

-

Impact on minority shareholders'

interests (after tax)

-3,314

-

Effect of income tax

-7,664

-

Total

30,347

-

3

2.2 Major production and operational data

Unit: RMB

January to

January to

Percentage

Items

Unit

March 2021

March 2020

change %

I.

Coal operations

1. Production volume of commercial coal

10,000 tonnes

2,859

2,556

11.9

Of which: Thermal coal

10,000 tonnes

2,551

2,285

11.6

Coking coal

10,000 tonnes

308

271

13.7

2. Sales volume of commercial coal

10,000 tonnes

7,249

5,060

43.3

(1)

Sales volume of self produced coal

10,000 tonnes

2,858

2,484

15.1

Of which: external sales volume

10,000 tonnes

2,694

2,347

14.8

(2)

Sales volume of proprietary coal

trading

10,000 tonnes

4,126

2,524

63.5

Of which: external sales volume

10,000 tonnes

3,857

2,322

66.1

(3)

Agency sales of coal

10,000 tonnes

265

52

409.6

II.

Coal chemical operations

(I) Polyolefin

1.

Polyethylene production volume

10,000 tonnes

20.2

19.3

4.7

Sales volume

10,000 tonnes

19.5

14.4

35.4

2.

Polypropylene production volume

10,000 tonnes

19.5

18.6

4.8

Sales volume

10,000 tonnes

19.1

17.7

7.9

(II) Urea

1.

Production volume

10,000 tonnes

53.8

48.9

10.0

2.

Sales volume

10,000 tonnes

63.7

59.1

7.8

(III)Methanol

1.

Production volume

10,000 tonnes

24.2

20.4

18.6

2.

Sales volume

10,000 tonnes

24.3

20.2

20.3

Of which: external sales volume

10,000 tonnes

4.5

0.1

4,400.0

III. Coal mining equipment operations

1. Output value of coal mining equipment

RMB100 million

21.8

21.4

1.9

4

2.3 Major differences arising from the adoption of different accounting standards in preparing the financial statements

Unit: RMB' 000

Net profit attributable to

Net assets attributable to

shareholders of the listed

shareholders of the listed

company

company

January to

As at 31

As at 31

January to

March 2020

March

December

March 2021

(Restated)

2021

2021

According to PRC GAAP

3,509,206

648,488

104,900,725

100,857,446

Items and amounts adjusted according to IAS:

(1)

Adjustment to special

funds and deferred tax of

the coal industry

521,702

409,851

-15,202

-20,446

(2)

Adjustment to floating

of non-tradable shares

under equity split

-

-

-155,259

-155,259

(3)

Adjustment to

government grants

927

927

-21,333

-22,260

According to IAS

4,031,835

1,059,266

104,708,931

100,659,481

Explanations on major reconciliations are as follows:

  1. Adjustment to special reserves and relevant deferred tax: special reserves comprise maintenance fee, safety fund, coal mine transformation fund, mining environmental restoration security deposit and sustainable development reserve. Under PRC GAAP, the Group should make provisions for the special reserves which will be accounted as the production cost and contributions made to the special reserves of equity attributable to shareholders. Non-capital expenditure incurred should be directly offset against special reserves upon incurrence, while capital expenditure incurred should be recorded as fixed assets upon completion, and offset against special reserves based on the cost of the fixed assets with accumulated depreciation fully recognised. After that, no subsequent provisions for depreciation would be made to the relevant fixed assets. Under IFRS, provisions made for the special reserves should be recorded as retained earnings provision while the relevant expenditures are recognised upon incurrence and the special reserves are accordingly transferred to retained earnings.
  2. Under PRC GAAP, the consideration paid by holders of non-tradable shares to holders of tradable shares in accordance with the reform proposal of equity split should be recorded as long-term equity investments in the balance sheet. Under IFRS, such consideration shall be recorded as interests of minority shareholders directly deducted from the equity attributable to shareholders.
  3. Under PRC GAAP, subsidies considered as capital investment by the government should be recorded in "capital reserve". Under IFRS, the subsidies mentioned above shall be treated as government grants.

5

2.4 Total number of shareholders, top 10 shareholders and top 10 shareholders holding tradable shares (or shareholders not subject to trading moratorium) as at the end of the reporting period

Unit: Share

Total number of shareholders

135,302

Particulars of top 10 shareholders

Number of

shares

held as at the

Number of

Shares pledged

end of the

Shareholding

shares subject

or frozen

Name of shareholders (full name)

reporting

percentage

to trading

Nature of

period

(%)

moratorium

Status

Number

shareholders

China National Coal Group Corporation

7,605,207,608

57.36%

-

Nil

0

State-owned

legal person

HKSCC NOMINEES LIMITED

3,953,897,457

29.82%

-

Unknown

-

Foreign legal

person

China Securities Finance Corporation

335,624,355

2.53%

-

Nil

0

State-owned

Limited (中國證券金融股份有限公司)

legal person

China Coal Hong Kong Limited

132,351,000

1.00%

-

Nil

0

Foreign legal

(中煤能源香港有限公司)

person

Central Huijin Asset Management

83,035,400

0.63%

-

Nil

0

State-owned

Company Limited (中央匯金資產管理

legal person

有限責任公司)

Hong Kong Securities Clearing Company

79,122,108

0.60%

-

Nil

0

Foreign legal

Limited

person

Agricultural Bank of China Limited -

46,415,081

0.35%

-

Nil

0

Other

Guangfa Balance Selected Mixed Type

Securities Investment Fund (中國農業

銀行股份有限公司-廣發均衡優選混

合型證券投資基金)

China Construction Bank Corporation -

41,050,601

0.31%

-

Nil

0

Others

Guangfa Value Leading Mixed Type

Securities Investment Fund (中國建設

銀行股份有限公司-廣發價值優勢混

合型證券投資基金)

Xu Kaidong (徐開東)

32,618,710

0.25%

-

Nil

0

Domestic

natural person

Industrial and Commercial Bank of China

21,937,970

0.17%

-

Nil

0

Others

Limited - Guangfa Value Advantage

Mixed Type Securities Investment Fund

(中國工商銀行股份有限公司-廣發價

值優勢混合型證券投資基金)

6

Particulars of top 10 shareholders not subject to trading moratorium

Number of listed

Type and number of Shares

shares held not

subject to trading

Name of shareholders

moratorium

Type

Number

China National Coal Group Corporation (中國中煤

7,605,207,608

Ordinary shares

7,605,207,608

能源集團有限公司)

denominated in RMB

HKSCC NOMINEES LIMITED

3,953,897,457

Overseas listed foreign

3,953,897,457

shares

China Securities Finance Corporation Limited (

335,624,355

Ordinary shares

335,624,355

國證券金融股份有限公司)

denominated in RMB

China Coal Hong Kong Limited (中煤能源香港有

132,351,000

Overseas listed foreign

132,351,000

限公司)

shares

Central Huijin Asset Management Company

83,035,400

Ordinary shares

83,035,400

Limited (中央匯金資產管理有限責任公司)

denominated in RMB

Hong Kong Securities Clearing Company Limited

79,122,108

Ordinary shares

79,122,108

denominated in RMB

Agricultural Bank of China Limited - Guangfa

46,415,081

Ordinary shares

46,415,081

Balance Selected Mixed Type Securities

denominated in RMB

Investment Fund (中國農業銀行股份有限公司-

廣發均衡優選混合型證券投資基金)

China Construction Bank Corporation - Guangfa

41,050,601

Ordinary shares

41,050,601

Value Leading Mixed Type Securities Investment

denominated in RMB

Fund (中國建設銀行股份有限公司-廣發價值

優勢混合型證券投資基金)

Xu Kaidong (徐開東)

32,618,710

Ordinary shares

32,618,710

denominated in RMB

Industrial and Commercial Bank of China Limited -

21,937,970

Ordinary shares

21,937,970

Guangfa Value Advantage Mixed Type Securities

denominated in RMB

Investment Fund (中國工商銀行股份有限公司-

廣發價值優勢混合型證券投資基金)

Explanations on affiliated relationship or parties

China Coal Hong Kong Limited (中煤能源香港有限公司) is a

acting in concert among the above-mentioned

wholly-owned subsidiary of China Coal Group (中煤集團), the

shareholders

controlling shareholder of the Company. It is not certain if any of the

other shareholders are affiliated or acting in concert with each other.

Explanations on preference shareholders with voting

The Company does not have preference shares and has no

rights restored and the number of shares held

preference shareholders with voting rights restored.

Notes: The above tables of particulars of top 10 shareholders and particulars of top 10 shareholders not subject to trading moratorium are based on the followings:

  1. The above information was prepared in accordance with the register of shareholders of the Company as at 31 March 2021 provided by the China Securities Depository and Clearing Corporation Limited Shanghai Branch and Computershare Hong Kong Investor Services Limited.
  2. The A shares held by Hong Kong Securities Clearing Company Limited are held on behalf of various customers.
  3. The H shares held by HKSCC Nominees Limited are held on behalf of various customers.

As at 31 March 2021, according to the disclosure of interests published on the website of HKSE, Funde Sino Life Insurance Co., Ltd. had long positions in 2,012,858,147 H shares of the Company.

7

2.5 Total number of holders of preference shares, top 10 holders of preference shares and top 10 holders of preference shares (not subject to trading moratorium) as at the end of the reporting period

Applicable √ Not applicable

III. SIGNIFICANT EVENTS

3.1 Significant changes of the major accounting items and financial indicators of the Company and the reasons thereof

√ Applicable Not applicable

3.1.1 Analysis on reasons for the major changes in items on the balance sheet

Unit: RMB' 000

As at

As at

Increase/

31 March

31 December

decrease

Items

2021

2020

(%)

Major reasons for the changes

Account

10,016,570

7,241,095

38.3

Mainly due to the increase in account

receivables

receivables during the settlement

period as a result of the significant

increase in income due to the

expansion in sales scale of the

Company.

Tax payables

2,744,640

1,634,611

67.9

Mainly due to the increase in EIT

and VAT payables as a result of the

increase in earnings and expansion

in sales scale of the Company.

8

3.1.2 Analysis on reasons for the major changes in items on the income statement

Unit: RMB' 000

January to

January to

March

March

2020

Increase/

Items

2021

(Restated)

decrease (%)

Major reasons for the changes

Operating revenue

44,442,528

27,520,485

61.5

Mainly due to the significant

increase in sales prices of the

major products of the Company

benefited from the stable recovery

of the macro economy, the year

-on-year increase in production

and sales volume as a result of

strengthening the production

of coal, coal chemical and coal

mining equipment products, as well

as the expansion in sales scale of

purchased coal by leveraging on its

strong network channels resulting

in an increase of operating revenue.

Operating cost

32,861,337

19,606,770

67.6

Mainly due to the increase in

production and sales volume of the

major products of the Company, as

well as the expansion in sales scale

of purchased coal resulting in an

increase of operating cost.

Tax expenses and

1,288,758

914,015

41.0

Mainly due to the year-on-year

surcharges

increase in ad valorem resources

tax as a result of the increase in

sales volume sales price of the self-

produced coal of the Company.

Research and

81,433

42,857

90.0

Mainly due to the increase in

development

research and development expenses

expenses

of the Company for enhancing its

technology and innovation.

Investment gain

828,102

46,460

1,682.4

Mainly due to the year-on-year

increase in earnings of investee

companies and the year-on-year

increase in investment gain

recognised based on the share

proportion of the Company in such

companies.

Income tax

1,370,784

742,139

84.7

Mainly due to the year-on-year

expenses

increase in earnings of the

Company.

9

3.1.3 Analysis on reasons for major changes in items on the cash flow statement

Unit: RMB' 000

January to

increase/

January to

March 2020

decrease in

Items

March 2021

(Restated)

amount

Major reasons for the changes

Net cash flows

5,835,827

4,596,433

1,239,394

Mainly due to the combined effect of

generated from

growth of the operating results of the

operating activities

Company as well as the increase of

the deposits derived from members

other than China Coal Energy by the

Finance Company.

Net cash flows

-2,881,831

3,130,981

-6,012,812

Mainly due to the combined effects of

generated from

the change in time deposits of the

investment

Company with initial deposit period

activities

of more than three months as well

as the self-operated loan to members

other than China Coal Energy by the

Finance Company on a year-on-year

basis, resulting in an increase in cash

outflow.

Net cash flows

428,636

4,493,473

-4,064,837

Mainly due to the year-on-year decrease

generated from

in debt financing arranged by the

financing activities

Company according to the annual

financing plan and the overall capital.

3.1.4 Revenue, cost and gross profit of coal operations

In the first quarter of 2021, the macro economy has steadily recovered. The selling price of the self-produced commercial coal of the Company increased significantly. The Company endeavoured to increase production and sales to guarantee supply, and the scale of coal production and sales were expanded. The production volume of self-produced commercial coal was 28.59 million tonnes, representing a year-on-year increase of 3.03 million tonnes or 11.9%; the sales volume of self-produced commercial coal was 28.58 million tonnes, representing a year-on-year increase of 3.74 million tonnes or 15.1%; the sales volume of proprietary coal trading was 41.26 million tonnes, representing a year-on-year increase of

16.02 million tonnes or 63.5%. The Company recorded a sales revenue from coal operations of RMB36.678 billion, representing an increase of RMB14.780 billion or 67.5%, as compared to RMB21.898 billion for the same period of last year, of which, the sales revenue from self- produced commercial coal was RMB14.590 billion, representing an increase of RMB2.918 billion or 25.0%, as compared to RMB11.672 billion for the same period of last year; the sales revenue from proprietary coal trading was RMB22.083 billion, representing an increase of RMB11.860 billion or 116.0%, as compared to RMB10.223 billion for the same period of last year.

10

The cost of sales of coal operations was RMB27.406 billion, representing an increase of RMB12.125 billion or 79.3%, as compared to RMB15.281 billion for the same period of last year, of which, the cost of sales of self-produced commercial coal increased by RMB799 million year on year, due to the combined effects of the Company's enhancement of cost control leading to the year-on-year decrease of the unit cost of sales of self-produced commercial coal by RMB0.27/tonne, and the year-on-year increase of its sales volume by 3.74 million tonnes; and the cost of sales of proprietary coal increased on a year-on-year basis by RMB11.326 billion due to the year-on-year increase of the sales volume of proprietary coal by 16.02 million tonnes.

The gross profit of coal operations was RMB9.272 billion, representing an increase of RMB2.655 billion or 40.1%, as compared to RMB6.617 billion for the same period of last year, of which, self-produced commercial coal recorded a gross profit of RMB8.427 billion, representing an increase of RMB2.119 billion as compared to RMB6.308 billion for the same period of last year; proprietary coal trading recorded a gross profit of RMB840 million, representing an increase of RMB534 million as compared to RMB306 million for the same period of last year.

3.1.5 Coal sales volume and selling prices before netting of inter-segmental sales and the year- on-year changes

Currency: RMB

Year-on-year

Increase/decrease in

Increase/decrease in

January to March 2021

January to March 2020

amount

percentage

Sales

Selling

Sales

Selling

Sales

Selling

volume

price

volume

price

volume

price

(10,000

(RMB/

(10,000

(RMB/

(10,000

(RMB/

Sales

Selling

tonnes)

tonne)

tonnes)

tonne)

tonnes)

tonne)

volume(%)

price(%)

I.

Self-produced

Total

2,858

511

2,484

470

374

41

15.1

8.7

commercial coal

(I)

Thermal coal

2,539

459

2,209

421

330

38

14.9

9.0

1.

Domestic sale

2,539

459

2,209

421

330

38

14.9

9.0

(II)

Coking coal

319

919

275

858

44

61

16.0

7.1

1.

Domestic sale

319

919

275

858

44

61

16.0

7.1

II.

Proprietary coal

Total

4,126

535

2,524

405

1,602

130

63.5

32.1

trading

(I)

Domestic resale

4,064

536

2,494

401

1,570

135

63.0

33.7

(II)

Self-operated exports*

6

1,206

2

1,866

4

-660

200.0

-35.4

(III)

Import trading

56

402

28

668

28

-266

100.0

-39.8

III.

Import and export and

Total

265

2

52

6

213

-4

409.6

-66.7

domestic agency

(I)

Import agency

256

2

15

4

241

-2

1,606.7

-50.0

(II)

Export agency

9

8

37

7

-28

1

-75.7

14.3

*

Briquette export.

Selling price is agency service fee.

Note: Sales volume of the commercial coal is before net of inter-segmental sales within the Company which was 4.33 million tonnes for January to March 2021 and 3.39 million tonnes for January to March 2020.

11

3.1.6 The unit cost of sales of self-produced commercial coal and the year-on-year changes Unit: RMB/tonne Currency: RMB

Year-on-year

Increase/

Increase/

decrease in

January to

January to

decrease in

percentage

Items

March 2021

March 2020

amount

(%)

Materials costs

50.97

51.50

-0.53

-1.0

Staff costs

28.94

31.95

-3.01

-9.4

Depreciation and

amortization

52.54

55.63

-3.09

-5.6

Repair expenses

10.55

9.74

0.81

8.3

Outsourced mining

engineering fee

36.58

33.04

3.54

10.7

Other costs

36.07

34.06

2.01

5.9

Unit cost of sales of self-

produced commercial coal

215.65

215.92

-0.27

-0.1

In the first quarter of 2021, the unit cost of sales of self-produced commercial coal of the Company was RMB215.65/tonne, representing a decrease of RMB0.27/tonne or 0.1%, as compared to RMB215.92/tonne for the same period of last year. The Company continued to release its advanced production capacity activating the increase of the output of self-produced commercial coal, the dilution effect of which reduced the staff costs and depreciation and amortization costs per tonne of coal on a year-on-year basis. According to the production organization plan, the stripping volume of the Company's open pit mine and the drifting footage of the mine for the current period increased on a year-on-year basis, which resulted in the increase both in outsourced mining engineering fee per tonne of coal and repair expenses per tonne of coal. Besides, affected by the combined effect of the year-on-year decrease in utilization of the special fund provided by the Company in the current period as well as unbalanced settlement of sporadic expenses related to production, other costs per tonne of coal increased on a year-on-year basis.

12

3.1.7 Sales volume and price of major coal chemical products and the year-on-year changes Currency: RMB

Year-on-year

Increase/decrease in

Increase/decrease in

January to March 2021

January to March 2020

amount

percentage (%)

Sales

Selling

Sales

Selling

Sales

Selling

volume

price

volume

price

volume

price

(10,000

(RMB/

(10,000

(RMB/

(10,000

(RMB/

Sales

Selling

tonnes)

tonne)

tonnes)

tonne)

tonnes)

tonne)

volume(%)

price(%)

(I)

Polyolefin

38.6

7,444

32.1

6,052

6.5

1,392

20.2

23.0

1.

Polyethylene

19.5

7,321

14.4

6,000

5.1

1,321

35.4

22.0

2.

Polypropylene

19.1

7,569

17.7

6,095

1.4

1,474

7.9

24.2

(II)

Urea

63.7

1,927

59.1

1,692

4.6

235

7.8

13.9

(III)

Methanol

24.3

1,598

20.2

1,394

4.1

204

20.3

14.6

Of which: Inter-segment

self-consumption volume

19.8

1,649

20.1

1,393

-0.3

256

-1.5

18.4

External sales

4.5

1,375

0.1

1,681

4.4

-306

4,400.0

-18.2

The amount of inter-segmentself-consumption volume represents the supply of methanol by Inner Mongolia China Coal Yuanxing Energy Chemical Company Limited (內蒙古中煤遠興能源化工有限公

) and China Coal Shaanxi Yulin Energy & Chemical Company Limited (中煤陝西榆林能源化工有限 公司) to Inner Mongolia China Coal Mengda New Energy & Chemical Company Limited (內蒙古中煤蒙 大新能源化工有限公司) and China Coal Ordos Energy Chemical Company Limited (中煤鄂爾多斯能源 化工有限公司).

3.1.8 Unit cost of sales of major coal chemical products and year-on-year changes

Unit: RMB/tonne Currency: RMB

Year-on-year

Increase/

Increase/

decrease in

January to

January to

decrease in

percentage

Items

March 2021

March 2020

amount

(%)

(I)

Polyolefin

5,477

4,928

549

11.1

1.

Polyethylene

5,505

4,985

520

10.4

2.

Polypropylene

5,448

4,881

567

11.6

(II)

Urea

1,080

1,105

-25

-2.3

(III) Methanol

1,268

1,250

18

1.4

The unit cost of sales of methanol includes the corresponding unit cost of sales of inter-segmental self- consumption volume.

13

  1. Analysis and explanation on the progress of significant events and their impacts and solutions
    • applicable √ Not applicable
  2. Undertakings not yet fully performed during the reporting period
    • applicable √ Not applicable
  3. Warning in respect of possible loss or any significant changes in aggregate net profit from beginning of the year until the end of the next reporting period as compared with that of the corresponding period of the previous year and the reasons thereof
  • applicable Not applicable

Since 2021, the macro economy has steadily recovered. The selling price of the main products of the Company increased significantly, and with the combined effect of the expansion of production and sale of main products, continuous strengthened cost control by the Company as well as the year-on-year increase of investment income from investee companies , it is expected that there will be a substantial growth in accumulated net profit from the beginning of this year to the end of the next reporting period as compared with that of the corresponding period of the previous year.

By Order of the Board

China Coal Energy Company Limited

Peng Yi

Vice Chairman and Executive Director

Beijing, the PRC

22 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.

14

Disclaimer

China Coal Energy Company Limited published this content on 22 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2021 09:55:03 UTC.


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Shu Dong Wang Chairman
Ke Zhang Independent Non-Executive Director
Cheng Jie Zhang Independent Non-Executive Director