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    1898   CNE100000528

CHINA COAL ENERGY COMPANY LIMITED

(1898)
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THIRD QUARTERLY REPORT 2021

10/27/2021 | 08:38am EST

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)

THIRD QUARTERLY REPORT 2021

Pursuant to the regulations and rules of China Securities Regulatory Commission and Shanghai Stock Exchange (the "SSE"), 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 third quarterly financial report of the Company for the period ended 30 September 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 27 October 2021. The full text of the quarterly financial report is in Chinese only.

IMPORTANT NOTICE

The board of directors and the supervisory committee of the Company together with the directors, supervisors and senior management 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.

The person-in-charge of the Company, the person-in-charge of accounting affairs and the person responsible for the accounting department (head of the accounting department) guarantee that the financial statements set out in this quarterly report are true, accurate and complete.

Whether the third quarterly report of the Company is audited.

  • Yes √ No
  • For identification purpose only

1

  1. MAJOR FINANCIAL DATA
  1. Major Accounting Data and Financial Indicators

Unit: RMB' 000

Increase/decrease

from the

beginning of the

Increase/decrease

year to the end

at the reporting

of the reporting

period as

period as

compared to the

From the

compared to the

corresponding

beginning of the

corresponding

period of the

year to the end

period of the

The reporting

previous year

of the reporting

previous year

Items

period

(%)

period

(%)

Operational revenue

63,018,918

62.2

161,738,815

61.3

Net profit attributable to

shareholders of

the listed company

4,269,965

131.5

11,855,946

185.4

Net profit attributable to

shareholders of the listed

company net of

nonrecurring

gains or losses

4,254,044

135.3

11,793,529

193.2

Net cash flows generated

from operating activities

11,802,831

14.8

32,213,327

65.6

Basic earnings per share

(RMB per share)

0.32

128.6

0.89

187.1

Diluted earnings per share

(RMB per share)

0.32

128.6

0.89

187.1

Weighted average return on

Increased by 2.02

Increased by 6.90

net assets (%)

3.88

percentage points

11.12

percentage points

Increase/decrease

at the end of the

reporting period

as compared to

As at the end of

the end of the

the reporting

As at the end of

previous year

period

the previous year

(%)

Total assets

314,053,483

281,686,377

11.5

Owners' equity

attributable to

shareholders

of the listed company

112,359,247

100,857,446

11.4

Note: "The reporting period" refers to the three-month period from the beginning of the quarter to the end of the quarter, the same below.

2

(II) Non-recurring gains or losses and relevant amounts

Unit: RMB' 000

Amount for the

period from

the beginning

of the year

to the end of

Amount for the

the reporting

Items

reporting period

period

Explanations

Profit or loss on disposal of non-current

assets(Including the portion offset with the

provision for impairment of assets)

1,820

-17,748

-

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

72,513

151,859

-

Capital occupancy fees from non-financial

companies included in profit or loss for the

current period

7,587

22,513

-

Gain or loss from external entrusted loans

51

151

-

Other non-operating income and expenses apart

from the foregoing

-66,691

-67,110

-

Less: Effect of income tax

6,253

27,465

-

Impact on minority shareholders' interests

(after tax)

-6,894

-217

-

Total

15,921

62,417

-

Explanation for determination of the non-recurring profit or loss items defined in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public-Extraordinary Profit and Loss as recurring items is as below:

Applicable √ Not applicable

3

(III) Major production and operational data

Unit: RMB

January to

January to

Percentage

September

September

change

Items

Unit

2021

2020

(%)

I.

Coal operations

1.Production volume of commercial coal

10,000 tonnes

8,298

8,267

0.4

Of which: Thermal coal

10,000 tonnes

7,473

7,390

1.1

Coking coal

10,000 tonnes

825

877

-5.9

2.Sales volume of commercial coal

10,000 tonnes

22,189

19,023

16.6

(1) Sales volume of self produced coal

10,000 tonnes

8,247

8,333

-1.0

Of which: external sales volume

10,000 tonnes

7,723

7,923

-2.5

(2) Sales volume of proprietary coal

trading

10,000 tonnes

13,263

10,592

25.2

Of which: external sales volume

10,000 tonnes

12,454

10,071

23.7

(3) Agency sales of coal

10,000 tonnes

679

98

592.9

II.

Coal chemical operations

(I)

Polyolefin

1.

Polyethylene production volume

10,000 tonnes

55.6

55.3

0.5

Sales volume

10,000 tonnes

54.5

54.6

-0.2

2.

Polypropylene production volume

10,000 tonnes

54.3

53.5

1.5

Sales volume

10,000 tonnes

54.6

54.4

0.4

(II)

Urea

1.

Production volume

10,000 tonnes

153.2

133.6

14.7

2.

Sales volume

10,000 tonnes

170.0

156.6

8.6

(III) Methanol

1.

Production volume

10,000 tonnes

77.5

48.6

59.5

2.

Sales volume

10,000 tonnes

77.8

44.8

73.7

Of which: external sales volume

10,000 tonnes

32.8

0.1

32,700.0

III. Coal mining equipment operations

1.Output value of coal mining equipment

RMB100 million

70.3

67.6

4.0

4

(IV) 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

January to

As at 30

As at 31

September

September

September

December

2021

2020

2021

2020

According to PRC GAAP

11,855,946

4,154,393

112,359,247

100,857,446

Items and amounts adjusted according to IAS:

(a)

Adjustment to special

funds and deferred tax of

the coal industry

1,333,468

166,314

-37,492

-20,446

(b)

Adjustment to floating

of non-tradable shares

under equity split

-

-

-155,259

-155,259

(c)

Adjustment to

government grants

2,783

2,783

-19,477

-22,260

According to IAS

13,192,197

4,323,490

112,147,019

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 Company 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

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

China Coal Energy Company Limited published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 12:37:03 UTC.


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Sales 2021 208 B 32 799 M 32 799 M
Net income 2021 16 627 M 2 622 M 2 622 M
Net Debt 2021 37 676 M 5 940 M 5 940 M
P/E ratio 2021 3,29x
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 3,91 CNY
Average target price 4,27 CNY
Spread / Average Target 9,31%
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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