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.
YANZHOU COAL MINING COMPANY LIMITED
(A joint stock limited company incorporated in the People's Republic of China ("PRC") with limited
liability)
(Stock Code: 01171)
RESULTS REPORT FOR THE FIRST QUARTER OF 2021
IMPORTANT NOTICE
This announcement is made pursuant to Part XIVA of the Securities and Futures Ordinance and the disclosure requirement under Rule 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "HKSE").
The board of directors (the "Board"), the supervisory committee, the directors (the "Directors"), the Supervisors, and the senior management of Yanzhou Coal Mining Company Limited ("Yanzhou Coal" or "the Company" or "Company") confirm that this report does not contain any misrepresentations, misleading statements or material omissions and severally and jointly accept all responsibilities for the authenticity, accuracy and completeness of the information contained in this report.
The report for the results of the first quarter of 2021 of the Company (the "Report") was considered and approved by the twelfth meeting of the eighth session of the Board and all the 9 Directors of the Board who were supposed to attend the meeting were present.
The financial statements in this Report have not been audited.
"Reporting Period" means the period from 1 January 2021 to 31 March 2021.
"The Group" means the Company and its subsidiaries.
Mr. Xiao Yaomeng, who is in charge of the Company, the Chief Financial Officer, Mr. Zhao Qingchun and the head of the Accounting Management Department, Mr. Xu Jian, hereby declare the authenticity, accuracy and completeness of the financial statements in this Report.
1/ 38
Summary of the unaudited results of the Group for the first quarter ended 31 March 2021 is set out as follows:
-
This Report is prepared in accordance with the relevant regulations on Disclosure of Information in Quarterly Reports for Listed Companies promulgated by the China
Securities Regulatory Commission (the "CSRC"). - All financial information contained in this Report is prepared in accordance with the relevant requirements and interpretations under the Accounting Standards for Business Enterprises promulgated by the Ministry of Finance of the PRC. Shareholders of the
Company (the "Shareholders") and public investors are reminded of the different reporting standards adopted in this Report, the interim report and the annual report of the Company when trading in the shares of the Company. - Unless otherwise specified, the recording currency used in this Report is Renminbi
("RMB"). - For the first quarter of 2021, the operating income of the Group was RMB31.056 billion, representing a decrease of RMB16.950 billion or 35.31% as compared with the corresponding period of last year. Net profit attributable to the shareholders of listed company was RMB2.251 billion, representing an increase of RMB522 million or 30.19% as compared with the corresponding period of last year.
- The content of the Report is consistent with the announcement published on the Shanghai Stock Exchange. This announcement is published simultaneously in the PRC and
overseas.
2/ 38
I. GENERAL INFORMATION OF THE GROUP
1.1 Major Financial Data
Unit: RMB'000 | ||||||||
As at the end of | As at the end of previous | Increase/decrease at the end | ||||||
year | of the Reporting Period as | |||||||
the Reporting | ||||||||
compared with the end of | ||||||||
Period | After | Before | ||||||
previous year | ||||||||
adjustment | adjustment | |||||||
Total assets | 257,673,487 | 258,910,041 | 258,910,041 | -0.48 | ||||
Net assets | ||||||||
attributable to the | 51,507,364 | 54,118,394 | 54,118,394 | -4.82 | ||||
shareholders of | ||||||||
listed company | ||||||||
From the beginning | From the beginning of the year | Increase/decrease | for | the | ||||
of the | year to the | till the end of the Reporting | ||||||
Reporting Period as compared | ||||||||
end of the Reporting | Period of the year 2020 | |||||||
with the corresponding period | ||||||||
Period | After | Before | ||||||
of previous year | ||||||||
adjustment | adjustment | |||||||
Net cash flows from | 3,158,823 | 3,049,498 | 1,336,342 | 3.59 | ||||
operating activities | ||||||||
From the beginning | From the beginning of the year | Increase/decrease | for | the | ||||
of the | year to the | to the end of the Reporting | ||||||
Reporting Period as compared | ||||||||
end of the Reporting | Period | |||||||
with the corresponding period | ||||||||
Period | After | Before | ||||||
of previous year | ||||||||
adjustment | adjustment | |||||||
Operating income | 31,055,994 | 48,005,960 | 45,604,524 | -35.31 | ||||
Net profit | ||||||||
attributable to the | 2,251,001 | 1,729,030 | 1,527,504 | 30.19 | ||||
shareholders of | ||||||||
listed company | ||||||||
Net | profit | |||||||
attributable | to the | |||||||
shareholders | of | |||||||
listed company after | 2,218,000 | 1,449,615 | 1,454,167 | 53.01 | ||||
deducting | ||||||||
extraordinary profits | ||||||||
and losses | ||||||||
Weighted average | Increase 1.32 | |||||||
return on net assets | 4.06 | 2.74 | 2.37 | |||||
percentage points | ||||||||
(%) | ||||||||
Basic earnings per | 0.4628 | 0.3520 | 0.3110 | 31.48 | ||||
share (RMB) | ||||||||
Diluted earnings per | 0.4628 | 0.3520 | 0.3110 | 31.48 | ||||
share (RMB) | ||||||||
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Notes:
① In 2020, the Company acquired 49.315% equity of Shannxi Future Energy Co., Ltd. ("Future Energy"), 100% equity of Yankuang Yulin Fine Chemicals Co., Ltd.("Fine Chemicals"), 100% equity of Yankuang Lunan Chemical Co., Ltd.("Lunan Chemical"), 100% equity of Yankuang Jining Chemical Equipment Co., Ltd., 100% equity of Yankuang Coal Chemical Supply and Marketing Co., Ltd. ("Coal Chemical Supply and Marketing"), 99% equity of Shandong Yankuang Jining No.3 Power Generating Co., Ltd. ("Jining No.3 Power") and related assets of Information Center held by Yankuang Group (currently known as Shandong Energy) (the "Acquisitions of Related Assets from the Controlling Shareholder"). According to Chinese accounting standards, the acquisitions constituted mergers under the controls in common. The Group has made retroactive adjustments to the relevant items in its comparative financial statements for the first quarter of 2021.
②The financial statements of Yankuang (Hainan) Intelligent Logistics Technology Co., Ltd. ("Intelligent Logistics") were no longer consolidated during the Reporting Period.
③As at the end of the Reporting Period, participants of the Company's 2018 A Share option scheme (the "Share Option Scheme") exercised and completed the transfer of 13,041,592 shares, and the total share capital of the Company has been increased by 13,041,592 shares. Earnings per share and other relevant indicators were calculated based on the weighted average of outstanding common shares.
Extraordinary profit and loss items and amounts
Unit: RMB'000 | ||
Items of extraordinary profits and losses | Account for the Reporting Period | |
(January-March) | ||
Gains and losses on disposals of non-current assets | 10,045 | |
Government grants recognized as gains or loss of current period, | ||
excluding the government grants, which are closely related to the | ||
Company's normal business operations, in line with national | 18,911 | |
policies and can be continuously enjoyed according to certain | ||
standard quota or quantities. | ||
Except effective hedging businesses that relate to the Company's | ||
ordinary operating operations, gain or loss from fair value changes | ||
on transactional financial assets and liabilities, and investment | -15,364 | |
income from disposal of transactional financial assets, liabilities | ||
and available-for-sale financial assets | ||
Receivables tested separately and contract assets impairments | 9,600 | |
reverses | ||
Other non-operating income and expenses excluding | the | 9,976 |
abovementioned items | ||
Effect of the equity of minority shareholders (after tax) | 781 | |
Effect of income tax | -948 | |
Total | 33,001 | |
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1.2 Total number of Shareholders at the end of the Reporting Period, the top ten Shareholders and the top ten Shareholders holding tradable shares of the Company which are not subject to trading moratorium as at the end of the Reporting Period
Unit: share | ||||||||||||
Total number of Shareholders | 59,200 | |||||||||||
Shareholdings of the top ten Shareholders | ||||||||||||
Number of shares | Number of shares | Pledged or locked shares | ||||||||||
Name of Shareholders | held at the end of | Percentage (%) | held subject to | Nature of | ||||||||
Status of | Number of | |||||||||||
(Full name) | the Reporting | trading | Shareholders | |||||||||
shares | shares | |||||||||||
Period | moratorium | |||||||||||
Shandong Energy Group | 2,263,047,288 | 46.44 | 0 | No | 0 | State-owned | ||||||
Co., Ltd ① | legal person | |||||||||||
Hong | Kong | Securities | Overseas | |||||||||
Clearing | Company | 1,896,508,803 | 38.92 | 0 | Unknown | - | legal | |||||
(Nominees) Limited | person | |||||||||||
Hong | Kong | Securities | Overseas | |||||||||
Clearing | Company | 76,941,043 | 1.58 | 0 | No | 0 | legal | |||||
Limited | person | |||||||||||
China | Merchants | Bank | ||||||||||
Co., Ltd. - | Shanghai | |||||||||||
Stock | Exchange | |||||||||||
Dividend | Tradable | 47,103,875 | 0.97 | 0 | No | 0 | Others | |||||
Open-end | Index | |||||||||||
Securities | Investment | |||||||||||
Fund | ||||||||||||
Agricultural | Bank | of | ||||||||||
China Co., Ltd. - GF | ||||||||||||
Equilibrium | Preferred | 40,393,713 | 0.83 | 0 | No | 0 | Others | |||||
Hybrid | Securities | |||||||||||
Investment Fund | ||||||||||||
Central | Huijin | Assets | 19,355,100 | 0.40 | 0 | No | 0 | State-owned | ||||
Management Co., Ltd. | legal person | |||||||||||
Industrial Bank Co., Ltd. | ||||||||||||
- GF | Stable | Preferred | ||||||||||
Six-month | Hybrid | 18,240,453 | 0.37 | 0 | No | 0 | Others | |||||
Securities | Investment | |||||||||||
Fund | ||||||||||||
Industrial | and | |||||||||||
Commercial | Bank | of | ||||||||||
China | Limited | - | GF | 16,829,643 | 0.35 | 0 | No | 0 | Others | |||
Value Advantage Hybrid | ||||||||||||
Securities | Investment | |||||||||||
Fund | ||||||||||||
5/ 38 |
China Construction Bank | |||||||||||||||
Corporation Limited | - | ||||||||||||||
GF | Value | Leading | 13,751,100 | 0.28 | 0 | No | 0 | Others | |||||||
Hybrid | Securities | ||||||||||||||
Investment Fund | |||||||||||||||
China | Life | Insurance | |||||||||||||
Co., Ltd. - Self-owned | 8,854,200 | 0.18 | 0 | No | 0 | Others | |||||||||
capital | |||||||||||||||
Top ten Shareholders holding tradable shares not subject to trading moratorium | |||||||||||||||
Number of tradable | Class and number of shares held | ||||||||||||||
Name of Shareholders | shares held not subject to | ||||||||||||||
Class of | Number of shares | ||||||||||||||
trading moratorium | shares | ||||||||||||||
Shandong Energy Group Co., Ltd | 2,263,047,288 | A Shares | 2,263,047,288 | ||||||||||||
Hong | Kong | Securities | Clearing | 1,896,508,803 | H Shares | 1,896,508,803 | |||||||||
Company (Nominees) Limited | |||||||||||||||
Hong | Kong | Securities | Clearing | 76,941,043 | A Shares | 76,941,043 | |||||||||
Company Limited | |||||||||||||||
China Merchants Bank Co., Ltd. - | |||||||||||||||
Shanghai Stock | Exchange Dividend | 47,103,875 | A Shares | 47,103,875 | |||||||||||
Tradable Open-end Index Securities | |||||||||||||||
Investment Fund | |||||||||||||||
Agricultural Bank of China Co., Ltd. - | |||||||||||||||
GF Equilibrium | Preferred | Hybrid | 40,393,713 | A Shares | 40,393,713 | ||||||||||
Securities Investment Fund | |||||||||||||||
Central Huijin Assets Management Co., | 19,355,100 | A Shares | 19,355,100 | ||||||||||||
Ltd. | |||||||||||||||
Industrial Bank Co., Ltd. - GF stable | |||||||||||||||
preferred six-month holding | period | 18,240,453 | A Shares | 18,240,453 | |||||||||||
hybrid securities investment fund | |||||||||||||||
Industrial Bank Co., Ltd. - GF Stable | |||||||||||||||
Preferred Six-month Hybrid Securities | 16,829,643 | A Shares | 16,829,643 | ||||||||||||
Investment Fund | |||||||||||||||
China | Construction Bank Corporation | ||||||||||||||
Limited - GF Value Leading | Hybrid | 13,751,100 | A Shares | 13,751,100 | |||||||||||
Securities Investment Fund | |||||||||||||||
China | Life | Insurance | Co., | Ltd. - | 8,854,200 | A Shares | 8,854,200 | ||||||||
Self-owned capital | |||||||||||||||
6/ 38
Yankuang Group Hong Kong Company Limited ("Yankuang Hong | |||
Kong"), a wholly-owned subsidiary of the Controlling Shareholder, held | |||
455,000,000 H shares through Hong Kong Securities Clearing Company | |||
(Nominees) Limited. | |||
Agricultural Bank of China Co., Ltd. - GF Equilibrium Preferred Hybrid | |||
Illustration of related relationships | or | Securities Investment Fund, Industrial Bank Co., Ltd. - Industrial Bank Co., | |
Ltd. - GF Stable Preferred Six-month Hybrid Securities Investment Fund, | |||
actions in concert among the above | |||
Industrial and Commercial Bank of China Limited - GF Value Advantage | |||
Shareholders | |||
Hybrid Securities Investment Fund and China Construction Bank | |||
Corporation Limited - GF Value Leading Hybrid Securities Investment | |||
Fund are all managed by GF Fund Management Co., Ltd. | |||
Apart from the disclosure above, it is unknown whether other shareholders | |||
are related with one another or whether any of these shareholders fall | |||
within the meaning of parties acting in concert. | |||
Illustration of | preferred shareholders | ||
with restored | voting rights and | the | Not applicable. |
number of shares held by them | |||
Notes:
① On 1 April, 2021, the Company received a notice from Yankuang Group Co., Ltd. ("The former Yankuang Group", the "Controlling Shareholder"), that the industrial and commercial registration procedures have been completed for strategic restructuring between the former Yankuang Group and the former Shandong Energy Group Co., Ltd. The name of the Controlling Shareholder has been changed from "Yankuang Group Co., Ltd." to Shandong Energy Group Co., Ltd ("Shandong Energy
Group").
②All the information above, including "Total number of Shareholders" and "The top ten Shareholders and the top ten Shareholders holding tradable shares of the Company which are not subject to trading moratorium at the end of the Reporting Period", is prepared in accordance with the registers of the Shareholders provided by the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. and Computershare Hong Kong Investor Services Limited and the actual situation that Controlling Shareholder's name has changed to "Shandong Energy Group Co., Ltd.".
③As the clearing and settlement agent for the Company's H shares, Hong Kong Securities Clearing Company (Nominees) Limited holds the Company's H shares in the capacity of a nominee. Hong Kong Securities Clearing Company Limited is the nominal shareholder of the Company's Shanghai Stock Connect Program.
-
During the Reporting Period, 4,122,135 shares in aggregation were converted from converted corporate bonds 18yan01EB by the Controlling Shareholder, accounting for about 0.08% of the total share capital of the Company.
⑤As at 31 March 2021, the Controlling Shareholder held a total of 2,263,047,288 A shares of the Company, including 1,875,662,151 A shares held by its own account, and 387,385,137 A shares held by the guarantees and trust account jointly opened by CITIC Securities Co., Ltd. and the Company to provide guarantees for the convertable corporate bonds issued by the Controlling Shareholder; the Controlling Shareholder held 454,989,000 H Shares of the Company through Yankuang Hong Kong. the controlling shareholder directly and indirectly held 55.78% of the Company's shares.
7/ 38
⑥As at the end of the Reporting Period, the total share capital of the Company was increased to 4,873,041,592 shares as a result of the exercise of the Share Option Scheme. For details, please refer to the related contents of "Other Significant Matters" of "Significant Matters" of this report.
Substantial Shareholders' Interests and/or Short Positions in the Shares and/or Underlying Shares
of the Company
As far as the Directors are aware, save as disclosed below, as at 31 March 2021, other than the Directors, Supervisors or chief executives of the Company, there were no other persons who were substantial shareholders of the Company or had interests or short positions in the shares or underlying shares of the Company, which should (i) be disclosed pursuant to Sections 2 and 3 under Part XV of the Securities and Futures Ordinance ("SFO"); (ii) be recorded in the register to be kept pursuant to Section 336 of the SFO; or (iii) notify the Company and the HKSE in other ways.
Percentage | Percentage | ||||||
in | |||||||
Name of | Number of | Nature | in Total | ||||
Class of | the H Share | ||||||
Substantial | Capacity | Shares Held | of | Issued Share | |||
Shares | Capital of | ||||||
Shareholders | (share) | Interest | Capital of the | ||||
the | |||||||
Company | |||||||
Company | |||||||
A | Shares | Beneficial | 2,263,047,288 | Long | - | 46.44% | |
Shandong | (State-owned | owner | position | ||||
Energy Group | legal | person | |||||
Beneficial | 387,385,137 | Short | - | 7.95% | |||
shares) | owner | position | |||||
Shandong | Interest of | Long | |||||
H Shares | controlled | 454,989,000 | 23.95% | 9.34% | |||
Energy Group① | position | ||||||
corporations | |||||||
BNP Paribas | Investment | Long | |||||
Investment | H Shares | 117,641,207 | 6.19% | 2.41% | |||
manager | position | ||||||
Partners SA | |||||||
Note: |
-
The Controlling Shareholder's controlled subsidiary incorporated in Hong Kong holds such H Shares in the capacity of beneficial owner.
② The percentage figures above have been rounded off to the second decimal place.
③ Information disclosed herein is based on the information available on the website of the HKSE at www.hkexnews.hk and information provided by China Securities Depository and Clearing Corporation Limited Shanghai Branch, and the actual situation of name change of the Controlling Shareholder as Shandong Energy Group.
8/ 38
1.3 Total number of Preferred Shareholders at the end of the Reporting Period, the top ten Shareholders holding preferred shares and the top ten Shareholders holding preferred shares not subject to trading moratorium
Not applicable.
II. SIGNIFICANT MATTERS
2.1 General Operating Performance
2.1.1 Operating data of main products and services
For the first quarter | |||||||
Item | Increase/ | ||||||
2021 | 2020 | Decrease | |||||
(%) | |||||||
1.Coal business(kiloton) | |||||||
Saleable | coal | 26,348 | 28,205 | -6.58 | |||
production | |||||||
Sales volume | of | 26,308 | 35,907 | -26.73 | |||
saleable coal | |||||||
2.Coal Chemicals Business(kiloton) | |||||||
Production | 1,503 | 1,039 | 44.56 | ||||
volume | of | ||||||
chemical products | |||||||
Sales volume | of | 1,302 | 895 | 45.53 | |||
chemical products | |||||||
3. Power business (10,000kWh) | |||||||
Power generated | 187,406 | 322,936 | -41.97 | ||||
Power sold | 151,028 | 76,909 | 96.37 | ||||
Note:
① The Group completed the Acquisitions of Related Assets from the Controlling Shareholder in 2020, which was a merger under controls in common, the Group made relevant retroactive adjustment to the data for the first quarter of 2020 accordingly.
②The data in table above and the data for the first quarter of 2021 and the first quarter of 2020 were all
rounded off, while the increase or decrease percentage detailed in this chapter are calculated on base of
the data before being rounded off.
2.1.2 Operating performance of the principal businesses of the Group by segment
1. Coal business
(1) Coal production
During the first quarter of 2021, the Group produced saleable coal of 26.35 million tons, representing a decrease of 1.86 million tons or 6.6% as compared with the corresponding period of the previous year. The following table sets out the saleable coal production volume of the Group for the first quarter of 2021.
9/ 38
Unit: kiloton | |||||
For the first quarter | |||||
Item | |||||
2021 | 2020 | Increase/ | |||
Decrease (%) | |||||
1. The Company | 6,394 | 8,000 | -20.08 | ||
2. | Heze Neng Hua① | 586 | 817 | -28.19 | |
3. | Shanxi Neng Hua② | 354 | 305 | 16.02 | |
4. | Future Energy | 4,294 | 3,990 | 7.64 | |
5. | Ordos Neng Hua③ | 3,962 | 3,120 | 27.00 | |
6. | Haosheng Company④ | 822 | 1,481 | -44.52 | |
7. | Yancoal Australia⑤ | 8,736 | 9,149 | -4.52 | |
8. | Yancoal International⑥ | 1,200 | 1,343 | -10.66 | |
Total | 26,348 | 28,205 | -6.58 |
Notes:
- "Heze Neng Hua" means Yanmei Heze Neng Hua Company Limited.
- "Shanxi Neng Hua" means Yanzhou Coal Shanxi Neng Hua Company Limited.
- "Ordos Neng Hua" means Yanzhou Coal Ordos Neng Hua Company Limited.
- "Haosheng Company" means Inner Mongolia Haosheng Coal Mining Company Limited. For the first
quarter of 2021, the saleable coal production of Haosheng Company decreased as compared with the corresponding period of the previous year, which is mainly due to that the coal production of Shilawusu Coal Mine of Haosheng Company was constrained by safety and environmental protection policies during the reporting period.
- "Yancoal Australia" means Yancoal Australia Limited.
- "Yancoal International" means Yancoal International (Holding) Company Limited.
(2) Coal price and sales
During the first quarter of 2021, the Group's sales volume of saleable coal was 26.31 million tons, representing a decrease of 9.60 million tons or 26.7% as compared with the corresponding period of the previous year, which is mainly because the volume of traded coal decreased.
The following table sets out the Group's production and sales of saleable coal by coal types for the first quarter of 2021:
10/ 38
For the first quarter of 2021 | For the first quarter of 2020 | ||||||
Production | Sales volume | Sales price | Production | Sales volume | Sales price | ||
(kiloton) | (kiloton) | (RMB/ton) | (kiloton) | (kiloton) | (RMB/ton) | ||
I.The Company | 6,394 | 5,319 | 673.03 | 8,000 | 7,829 | 559.07 | |
No.1 clean coal | 195 | 195 | 882.54 | 209 | 198 | 802.56 | |
No.2 clean coal | 2,220 | 1,833 | 929.49 | 2,151 | 2,334 | 746.21 | |
No.3 clean coal | 726 | 560 | 788.64 | 846 | 749 | 581.12 | |
Lump coal | 10 | 8 | 771.65 | 500 | 630 | 617.71 | |
Sub-total of clean coal | 3,151 | 2,597 | 895.07 | 3,706 | 3,912 | 696.76 | |
Screened raw coal | 3,243 | 2,722 | 461.12 | 4,295 | 3,917 | 421.57 | |
II. Heze Neng Hua | 586 | 405 | 1,158.02 | 817 | 821 | 908.48 | |
No.2 clean coal | 495 | 405 | 1,158.02 | 624 | 705 | 995.86 | |
Screened raw coal | 92 | - | - | 193 | 117 | 379.90 | |
III. Shanxi Neng Hua | 354 | 352 | 352.59 | 305 | 292 | 306.23 | |
Screened raw coal | 354 | 352 | 352.59 | 305 | 292 | 306.23 | |
IV. Future Energy | 4,294 | 3,286 | 453.78 | 3,990 | 3,086 | 362.41 | |
No.3 clean coal | 502 | 507 | 463.66 | 681 | 674 | 381.50 | |
Lump coal | 1,028 | 1,023 | 465.41 | 945 | 814 | 383.19 | |
Screened raw coal | 2,764 | 1,756 | 444.15 | 2,364 | 1,598 | 343.79 | |
V. Ordos Neng Hua | 3,962 | 3,098 | 354.01 | 3,120 | 2,354 | 242.80 | |
Screened raw coal | 3,962 | 3,098 | 354.01 | 3,120 | 2,354 | 242.80 | |
VI. Haosheng Company | 822 | 920 | 425.07 | 1,481 | 1,397 | 297.80 | |
Screened raw coal | 822 | 920 | 425.07 | 1,481 | 1,397 | 297.80 | |
VII. Yancoal Australia | 8,736 | 8,598 | 446.64 | 9,149 | 8,592 | 468.34 | |
Semi-hard | coking | 28 | 27 | 629.76 | 58 | 55 | 743.42 |
coal | |||||||
Semi-soft | coking | 762 | 750 | 587.08 | 401 | 377 | 716.93 |
coal | |||||||
PCI coal | 614 | 604 | 577.20 | 575 | 540 | 691.65 | |
Thermal coal | 7,332 | 7,217 | 420.41 | 8,115 | 7,620 | 438.24 | |
VIII.Yancoal | 1,200 | 1,205 | 395.93 | 1,343 | 1,415 | 338.62 | |
International | |||||||
Thermal coal | 1,200 | 1,205 | 395.93 | 1,343 | 1,415 | 338.62 | |
IX. Traded coal | - | 3,124 | 1,086.78 | - | 10,120 | 607.43 | |
Total | 26,348 | 26,308 | 565.03 | 28,205 | 35,907 | 500.43 | |
(3) Sales cost of coal
The Group's sales cost of coal for the first quarter of 2021 was RMB9.198 billion, representing a decrease of RMB3.088 billion or 25.1% as compared with the corresponding period of the previous year.
11/ 38
For the first quarter | |||||||
Increase/ | |||||||
2021 | 2020 | decrease | |||||
(%) | |||||||
Total | cost of | sales | 1,499 | 2,282 | -34.32 | ||
The Company | (RMB million) | ||||||
Cost | of sales | per | 267.78 | 284.41 | -5.84 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 251 | 390 | -35.55 | ||
Heze Neng Hua | (RMB million) | ||||||
Cost | of sales | per | 528.41 | 435.89 | 21.23 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 100 | 65 | 54.85 | ||
Shanxi Neng Hua | (RMB million) | ||||||
Cost | of sales | per | 284.48 | 221.39 | 28.50 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 440 | 400 | 9.89 | ||
Future Energy | (RMB million) | ||||||
Cost | of sales | per | 112.87 | 116.38 | -3.01 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 579 | 352 | 64.75 | ||
Ordos Neng Hua | (RMB million) | ||||||
Cost | of sales | per | 186.98 | 142.95 | 30.80 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 280 | 244 | 14.39 | ||
Haosheng | (RMB million) | ||||||
Company | |||||||
Cost | of sales | per | 303.94 | 174.98 | 73.70 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 2,993 | 2,527 | 18.47 | ||
Yancoal Australia | (RMB million) | ||||||
Cost | of sales | per | 348.13 | 294.06 | 18.38 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 371 | 361 | 2.74 | ||
Yancoal | (RMB million) | ||||||
International | |||||||
Cost | of sales | per | 307.56 | 254.94 | 20.64 | ||
ton (RMB/ton) | |||||||
Total | cost of | sales | 3,080 | 5,970 | -48.40 | ||
Traded Coal | (RMB million) | ||||||
Cost | of sales | per | 986.14 | 589.92 | 67.16 | ||
ton (RMB/ton) | |||||||
Changes of sales cost per ton of Ordos Neng Hua was mainly due to the fact:① the increase of
employees' salaries and labor expenses resulted in the increase of coal sales cost per ton by RMB23.18
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as compared with that of the previous year;
②the increase of appreciation and repair expense resulted in the increase of coal sales per ton by RMB12.81 as compared with that of the previous year.
Change of sales cost per ton of Haosheng Company was mainly due to the fact: ① the decrease of salable coal resulted in the increase of coal sales per ton by RMB89.25 as compared with that of the previous year; ② the increase of fully-mechanized equipment's overhaul expense resulted in the increase of coal sales per ton by RMB37.26 as compared with that of the previous year.
2. Coal chemicals business
The following tables set out the operation of coal chemical business of the Group for the first quarter of 2021:
For the first quarter of 2021 | For the first quarter of 2020 | |||||||
Production | Sales Volume | Sales income | Sales cost | Production | Sales Volume | Sales income | Sales cost | |
Volume | Volume | |||||||
(kiloton) | (kiloton) | (RMB | (RMB | (kiloton) | (kiloton) | (RMB | (RMB | |
million) | million) | million) | million) | |||||
I. Lunan Chemical | 523 | 415 | 2,352 | 1,604 | 415 | 309 | 895 | 862 |
Including: acetic acid | 266 | 167 | 762 | 368 | 227 | 160 | 339 | 291 |
ethyl acetate | 107 | 101 | 697 | 577 | 57 | 37 | 184 | 178 |
II. Future Energy | 222 | 189 | 693 | 570 | 147 | 109 | 425 | 373 |
Including: crude liquid | 111 | 92 | 360 | 262 | 88 | 53 | 228 | 165 |
wax | ||||||||
III. Yulin Neng Huanote | 197 | 167 | 266 | 219 | 197 | 193 | 274 | 213 |
Including: methanol | 197 | 167 | 266 | 219 | 197 | 193 | 274 | 213 |
IV. Ordos Neng Hua | 557 | 529 | 1,077 | 633 | 277 | 281 | 394 | 240 |
Including: methanol | 479 | 453 | 748 | 474 | 277 | 281 | 394 | 240 |
ethylene glycol | 79 | 76 | 329 | 159 | - | - | - | - |
V. Fine Chemical | 3 | 3 | 5 | 3 | 3 | 3 | 6 | 3 |
Total | 1,503 | 1,302 | 4,394 | 3,025 | 1,039 | 895 | 1,994 | 1,690 |
Note: Yulin Neng Hua refers to Yanzhou Coal Yuling Neng Hua Company Limited.
Thanks to the price rise of the main products, Lunan Chemical's results improved significantly. For the first quarter of 2021, its operating income was RMB2,530 million, increased by RMB1,507 million or 147.3% as compared with the corresponding period of the previous year; its net profit was RMB599 million, while a net loss of RMB93 million recorded for the corresponding period of the previous year.
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3. Power business
The following tables set out the operation of the Group's power business for the first quarter of 2021:
For the first quarter of 2021 | For the first quarter of 2020 | |||||||||
Power | Power sales | Power | Power sales | |||||||
generation | Sales Income | Sales cost | Sales Income | Sales cost | ||||||
volume | volume | generation | volume | |||||||
(10,000kWh) | (10,000kWh) | (RMB million) | (RMB million) | (10,000kWh) | (10,000kWh) | (RMB million) | (RMB million) | |||
1. Hua Ju Energy① | - | - | - | - | 19,785 | 6,215 | 26 | 18 | ||
2.Jining No.3 Power | 29,852 | 29,852 | 99 | 78 | 22,649 | 22,649 | 76 | 47 | ||
3. Heze Neng Hua | 41,708 | 35,927 | 125 | 105 | 43,122 | 37,722 | 132 | 84 | ||
4. Lunan Chemical | 5,838 | 2,510 | 13 | 12 | 2,891 | 1,154 | 4 | 3 | ||
5. Yulin Neng Hua | 7,714 | 3,647 | 9 | 9 | 7,694 | 86 | 0.17 | 0.31 | ||
6. Future Energy | 28,688 | 11,389 | 32 | 38 | 226,795 | 9,084 | 27 | 29 | ||
7.Inner Mongolia | 73,606 | 67,703 | 179 | 202 | - | 0 | 0 | - | ||
Mining② | ||||||||||
Total | 187,406 | 151,028 | 457 | 441 | 322,936 | 76,909 | 266 | 180 | ||
Notes: |
- "Hua Ju Energy" refers to Shandong Hua Ju Energy Company Limited. Due to the closure of its power plant, the power generation volume, sales volume of power, sales income and sales cost decreased as compared with the corresponding period of the previous year.
- Inner Mongolia Mining refers to Inner Mongolia Mining (Group) Co., Ltd.
2.1.3 The operation of Yankuang Finance Company Limited during the Reporting Period Unit: RMB million
For the first quarter of 2021 | For the first quarter of 2020 | Increase/ | |
decrease | |||
(%) | |||
Operating | 172 | 125 | 37.32 |
income | |||
Net profit | 80 | 49 | 65.26 |
Increase/ | |||
As of 31 March 2021 | As of 31 December 2020 | decrease | |
(%) | |||
Net assets | 3,434 | 3,354 | 2.40 |
Total assets | 25,880 | 25,513 | 1.44 |
2.2 Significant movements of the accounting items and financial indicators of the Company and the reasons thereof
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2.2.1 Significant movements of items in balance sheet and the reasons thereof
As of 31 March 2021 | As of 31 December | ||||||
2020 | |||||||
Increase/decrease | |||||||
Percentage | Percentage | ||||||
(RMB | (%) | ||||||
(RMB million) | of total | of total | |||||
million) | |||||||
assets(%) | assets(%) | ||||||
Contract liabilities | 3,998 | 1.55 | 3,177 | 1.23 | 25.86 | ||
Other | current | 2,589 | 1.00 | 471 | 0.18 | 449.36 | |
liabilities | |||||||
Other | equity | 0 | 0.00 | 5,218 | 2.02 | -100.00 | |
instruments | |||||||
Explanations for changes in contract liabilities: ① Contract liabilities of Qingdao Zhongyan Trading Co., Ltd. ("Qingdao Zhongyan") increased by RMB543 million over the beginning of the year; ②Contract liabilities of Coal Chemical Supply & Marketing Company increased by RMB236 million over the beginning of the year.
Explanations for changes in other current liabilities: the Company issued the first tranche of 2021 ultra-short-term financing bonds during the reporting period.
Explanations for changes in other equity instruments: the Company repaid 2018 renewable corporate bonds of RMB5 billion during the reporting period (first tranche).
2.2.2 Significant movements of items in income statement and the reasons thereof
For the first | For the first | Increase/ | |||||
quarter of 2021 | quarter of 2020 | ||||||
decrease | Major reasons for those changes | ||||||
(RMB | (RMB | ||||||
(%) | |||||||
million) | million) | ||||||
During the reporting period, the Company no | |||||||
longer consolidated the financial statements of | |||||||
Yancoal International Trade Co., Ltd. | |||||||
Operating | 31,056 | 48,006 | -35.31 | ("Yancoal | International | Trade"), | Yancoal |
income | International (Singapore) Co., Ltd. ("Yancoal | ||||||
Singapore") and Intelligent Logistics, which | |||||||
affected operating income decreased as | |||||||
compared with that of the previous year. | |||||||
During the reporting period, the Company no | |||||||
longer consolidated the financial statements of | |||||||
Operating | 23,974 | 41,605 | -42.38 | Yancoal | International | Trade, | Yancoal |
cost | Singapore and Intelligent Logistics, which | ||||||
affected operating cost decreased as compared | |||||||
with that of the previous year. | |||||||
Taxes and | Taxes and | surcharges of | Ordos Neng Hua | ||||
815 | 644 | 26.53 | increased by RMB118 million as compared | ||||
surcharges | |||||||
with that of the previous year. | |||||||
① Foreign exchange gains decreased by | |||||||
Financial | RMB174 million as compared with that of the | ||||||
958 | 406 | 136.00 | previous year;②Interest | expenses | increased | ||
expenses | |||||||
by RMB252 million as compared with that of | |||||||
the previous year. | |||||||
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2.2.3 Significant movements of items in cash flow statement and the reasons thereof
For the first | For the first | Increase/ | |||||||||||
Quarter of 2021 | quarter of 2020 | decrease | Major reasons for those changes | ||||||||||
(RMB million) | (RMB million) | (%) | |||||||||||
① The cash received from selling | |||||||||||||
goods and providing labor services | |||||||||||||
decreased | by | RMB19.044 | billion | ||||||||||
as compared with that of the | |||||||||||||
previous year; ②The net increase | |||||||||||||
in customer deposits and interbank | |||||||||||||
deposits | increased | by | RMB1.75 | ||||||||||
billion as compared with that of | |||||||||||||
the previous year; ③Other cash | |||||||||||||
received | related | to | operating | ||||||||||
activities | increased | by | RMB623 | ||||||||||
Net | cash | flows | million as compared with that of | ||||||||||
from | operating | 3,159 | 3,049 | 3.59 | the | previous | year; | ④ The | cash | ||||
activities | paid | for | purchasing goods | and | |||||||||
accepting labor services decreased | |||||||||||||
by | RMB17.515 | billion | as | ||||||||||
compared with that of the previous | |||||||||||||
year; ⑤The cash paid to and on | |||||||||||||
half of employees increased by | |||||||||||||
RMB319 | million | as | compared | ||||||||||
with that of the previous year; | ⑥ | ||||||||||||
Payment of other cash related to | |||||||||||||
operating | activities | increased by | |||||||||||
RMB377 | million | as | compared | ||||||||||
with that of the previous year. | |||||||||||||
① Cash received from investment | |||||||||||||
recovery | increased | by | RMB203 | ||||||||||
million as compared with that of | |||||||||||||
the previous year; ②The cash paid | |||||||||||||
for the purchase and construction | |||||||||||||
Net | cash | flows | of fixed assets, intangible assets | ||||||||||
and | other | long-term | assets | ||||||||||
from | investing | -2,729 | -2,543 | - | |||||||||
decreased by RMB207 million as | |||||||||||||
activities | |||||||||||||
compared with that of the previous | |||||||||||||
year; ③The cash paid for | |||||||||||||
investment increased by RMB416 | |||||||||||||
million as compared with that of | |||||||||||||
the previous year; ④ The net cash | |||||||||||||
paid for acquiring subsidiaries and | |||||||||||||
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other business entities increased by | ||||||||||||
RMB233 | million | as | compared | |||||||||
with that of the previous year. | ||||||||||||
① The cash paid for debt | ||||||||||||
repayment | increased | by | ||||||||||
RMB4.793 | billion | as | compared | |||||||||
Net | cash | flows | with that | of | the | previous year; | ||||||
from | financing | 620 | 4,378 | -85.85 | ②The | cash | paid | for | the | |||
activities | distribution of dividends, profits or | |||||||||||
interest | payments | decreased | by | |||||||||
RMB1.214 | billion | as | compared | |||||||||
with that of the previous year. | ||||||||||||
Net | increase in | |||||||||||
cash | and | cash | 1,159 | 4,771 | -75.71 | - | ||||||
equivalents | ||||||||||||
2.3 Progress and impact of significant events and analysis of resolutions |
2.3.1 Significant litigation and arbitration events
Progress in litigation and arbitration events during the Reporting Period
1. Yanzhou Coal sued against National Pipeline Network Group Northern Pipeline Co., Ltd. ("Northern Pipeline Network"), National Petroleum and Natural Gas Pipeline Network Group Co., Ltd. ("National Pipeline Network") for disputes of obstruction clearance
In January 2021, Yanzhou Coal sued the Northern Pipe Network and the National Pipe Network to the Jining Intermediate People's Court ("Jining Intermediate Court") on the grounds of eliminating obstructive disputes. The Company demanded that the relevant oil pipelines in the coal mining area of Yanzhou Coal be relocated to other areas that do not prevent Yanzhou Coal from exercising its mining rights by 1 August 2021, otherwise the defendants shall compensate Yanzhou Coal for economic losses of RMB200 million.
Currently, Jining Intermediate People's Court has not yet made a ruling.
2. Weihai Commercial Bank Co., Ltd. ("Weihai Commercial Bank") sued against Yanzhou Coal for financial borrowings contract dispute
In October 2015, citing the borrowings facility contract dispute, Weihai Commercial Bank filed a case in Jining Intermediate Court against 8 defendants including Hengfeng Power Fuel Co., Ltd. ("Hengfeng Company") and Yanzhou Coal, requiring Hengfeng Company to repay the loan principal of RMB99.119 million and corresponding interests. Because Hengfeng Company pledged its account receivables of RMB103.42 million from Yanzhou Coal (suspect of counterfeit) to the Weihai Commercial Bank, Weihai Commercial Bank required Yanzhou Coal to bear the liability of repayment within the amount of the pledged account receivables.
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In October 2018, the Company received the first instance judgement from Jining Intermediate Court and lost the case. The Company lodged an appeal to Shandong Higher People's Court ("Shandong High Court").
In May 2019, it was the ruling of the second instance of the Shandong High Court that the case shall be reheard in Jining Intermediate Court.
In January 2020, Jining Intermediate Court rejudged and rejected the claims of Weihai Commercial Bank at the first instance of retrial. Then, Weihai Commercial Bank appealed to Shandong High Court.
In December 2020, the Shandong Higher People's Court retrial of the second instance ruled that Yanzhou Coal shall bear 30% of the compensation liability for the part that Hengfeng Company cannot pay off within the scope of the pledge of accounts receivable.
In March 2021, the Company filed an application for retrial to the Supreme People's Court.
In April 2021, the Company entered into settlement agreement with Weihai Commercial Bank, according to which, Weihai Commercial Bank will grant the Company favorable credit policy, and the Company withdrew application for retrial and the case is settled according to the second judgment.
3. China Construction Bank Jining Guhuailu Branch ("CCB Jining Guhuailu Branch") sue against Yanzhou Coal for financial borrowings contract dispute
In June 2017, CCB Jining Guhuailu Branch, as the plaintiff, sued against 8 defendants including Jining Liaoyuan Trading Co., Ltd. ("Jining Liaoyuan") and Yanzhou Coal to Jining Intermediate Court, requiring Jining Liaoyuan to repay the borrowing principal of RMB95.8596 million and corresponding interests. Since Jining Liaoyuan pledged its account receivables of RMB90.52 million from Yanzhou Coal (suspect of counterfeit) to CCB Jining Guhuailu Branch, CCB Jining Guhuailu Branch required the Company to make repayment in an amount equivalent to the pledged account receivables.
In January 2018, Jining Intermediate Court heard the case. The Company applied for judicial authentication of the seals and signatures in relevant evidences at the court. The judicial authentication verified that the signatures were real and the seals were forged.
In November 2018, the Company lost the suit at the first trial under the rule of Jining Intermediate court and the Company lodged an appeal to Shandong High Court.
In August 2019, Shandong High Court ruled the case to be reheard by Jining Intermediate Court.
In April 2020, Jining Intermediate Court rejected the plaintiff's appeal against the Company and ruled that the Company was exempted from the liability. CCB Jining Guhuailu Branch appealed to Shandong High Court.
In October 2020, the Shandong High Court retrial in the second instance ruled that Yanzhou Coal, within
18/ 38
the scope of the pledge of accounts receivable, bears 50% of the compensation liability for the unpaid part of Jining Liaoyuan.
In March 2021, the Company filed an application for retrial to the Supreme People's Court.
At present, the Company has applied to the Supreme People's Court for a retrial, and it is still unable to determine the impact of this litigation on the Company's future profits.
4. Qingdao Zhongyan sue against Dalian Container Whalf Logistics Co., Ltd. ("Dalian Whalf") for warehousing contract dispute
In April 2021, Qingdao Zhongyan, a wholly-owned subsidiary of Yanzhou Coal, sued Dalian Whalf to the Dalian Maritime Court on the grounds of a warehousing contract dispute, demanding compensation of RMB168.3644 million for cargo losses.
At present, the Dalian Maritime Court has not yet made a ruling.
2.3.2 Major related / connected transactions
1. Continuing connected/related transactions between Yanzhou Coal and the Controlling Shareholder
The 2021 first extraordinary general meeting of the Company held on 5 February 2021, approved the entering into of the "Material Supply Agreement", "Labor and Service Mutual Supply Agreement", "Insurance Management Agreement", "Product, Material Supply and Asset Leasing Agreement", "Bulk Commodity Purchase and Sale Agreement", "Entrusted Management Special Agreement" and "Financial Lease Agreement" between the Company and its Controlling Shareholder, which determined the annual caps of the transaction amount from 2021 to 2023.
For details, please refer to the announcement of the resolutions of the seventh meeting of the eighth session of the Board and the announcement of relevant continuing connected/related transactions dated 9 December 2020, and the announcement of the resolutions passed at the first extraordinary general meeting of shareholders of 2021 dated 5 February 2021. Such information is published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange, the Company's website and/or the China Securities Journal, the Shanghai Securities News, the Securities Times, and the Securities Daily in China.
2. Continuing connected/related transactions between Yancoal Australia and Glencore Coal Pty
Ltd and its subsidiaries ("Glencore Group")
The 2021 first extraordinary general meeting of the Company held on 5 February 2021 approved the renewal of "Coal Sales Framework Agreement" and "Coal Purchase Framework Agreement" between Yancoal Australia and Glencore Group. At the same time, the annual caps of transaction amount for transactions from 2021 to 2023 were also approved under the "Coal Sales Framework Agreement", "Coal Purchase Framework Agreement", "HVO Sales Contract" and "HVO Service Agreement".
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For details, please refer to the announcement of the resolutions of the seventh meeting of the eighth session of the Board and the announcement of relevant continuing connected/related transactions dated 9 December 2020, and the announcement of the resolutions passed at the first extraordinary general meeting of shareholders of 2021 dated 5 February 2021. Such information is published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange, the Company's website and/or the China Securities Journal, the Shanghai Securities News, the Securities Times, and the Securities Daily in China.
3. Continuing connected/related transactions between Yanzhou Coal and Shandong Energy Digital Technology Co., Ltd. ("Shandong Energy Digital Technology")
As considered and reviewed at the ninth meeting of the eighth session of the Board dated 5 February 2021, the "ERP and Related System Operation and Maintenance Framework Agreement" signed by Yanzhou Coal and Shandong Energy Digital Technology and the annual caps of transaction amount for transactions from 2021 to 2023 were approved.
For details, please refer to the announcement of the resolutions of the ninth meeting of the eighth session of the Board and the relevant continuing connected/related transactions dated 5 February 2021. Such information is published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange, the Company's website and/or the China Securities Journal, the Shanghai Securities News, the Securities Times, and the Securities Daily in China.
4. Continuing connected/related transactions between Yanzhou Coal and its Controlling Shareholder on the procurement of raw material coal for chemical production and coal chemicals sales
As considered and reviewed at the eleventh meeting of the eighth session of the Board dated 26 March 2021, the " Raw Material Coal Purchase and Chemical Products Sales Agreement" signed by Yanzhou Coal and its Controlling Shareholder and the annual caps of transaction amount for transactions from 2021 to 2023 were approved.
For details, please refer to the announcements of the resolutions of the eleventh meeting of the eighth session of the Board and the relevant continuing connected/related transactions dated 26 March 2021. Such information is published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange, the company's website and/or the China Securities Journal, the Shanghai Securities News, the Securities Times, and the Securities Daily in the PRC.
2.3.3 Other Significant Events
1. Adjustment of Company Organization
As reviewed and approved at the ninth meeting of the eighth session of the Board held on 5 February 2021, the Company established the following new departments:
1. Operation Management Department. It is responsible for mechanism reform, enterprise management,
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full marketization, integrated production and operation deployment, operation evaluation and other operation management works.
- Human Resource Service Center. It is responsible for employee's social security, retirement procedures, employee's education and training, college graduates and staff recruitment, occupational appraisal, professional titles promotion, skilled talents selection and training, etc.
- Audit Center. It is responsible for economic activities auditing, internal risk control and assessment, economic responsibility auditing for related management personnel, construction cost budget, supervision over bidding process, etc.
- Project Supervision Center. It is responsible for supervision and assessment of the whole process of project construction, daily supervision of construction projects, supervision and assessment of completion acceptance of projects, tactics control over engineering project bidding, biding of procurement of engineering construction and consulting services, overall planning of construction projects, participation in design review of construction projects, approval of construction starting report, construction contract management, etc.
- News Center. It is responsible for publicity and disclosure of news and significant events, management of news and public opinion, daily management of newspapers, TV stations, websites, news media, etc.
- Comprehensive Service Center. It is responsible for the organization of conference affairs, reception, resignation and retirement management, comprehensive file management, internal security defense, logistics and other daily comprehensive services.
- Technology and Quality Center. It is responsible for scientific and technological innovation, quality management, quality system certification, intellectual property management, energy conservation and consumption reduction, standard measurement, standard certification, etc.
- Yancoal Operation Coordination Center. It is responsible for management of early retirement and resignation in reformed entities, and the affairs after handover and localization of "power supply, water supply, heat supply and property management".
- IT Center. It is responsible for the information project construction, industrial internet planning and construction, standard system construction, information security management, information technology industry development, etc.
For details, please refer to the announcement on the resolutions of the ninth meeting of the eighth session of the Board held on 5 February 2021, which was posted on the websites of the Shanghai Stock Exchange, the HKEX and the Company, and/or on China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily in the PRC.
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2. Resignation of General Manager
The Board of the Company received the written resignation report of Mr. Liu Jian, a Director and general manager of the Company, on 20 February 2021. Due to work arrangements, Mr. Liu Jian, applied for resigning from the posts of general manager of the Company. Mr. Liu Jian will continue to be Director of the eighth session of the Board of the Company, a member of Strategy and Development Committee to the Board as well as the Director of Sustainable Development Committee to the Board.
Mr. Xiao Yaomeng, deputy general manager of the Company, temporarily assumes the duties of general manager of the Company before the appointment of the new general manager by the Board of the Company.
For details, please refer to the announcement on resignation of general manager dated 21 February 2021, which was posted on the websites of the Shanghai Stock Exchange, the HKEX and the Company, and/or on China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily in the PRC.
3. Changes of the Company's registered address and principal place of business in Hong Kong
Due to the re-issuance of the Company's unit number by Zoucheng City, the Company's registered address was changed from 298 Fushan South Road, Zoucheng City, Shandong Province, PRC to 949 Fushan South Road, Zoucheng City, Shandong Province, PRC.
As the name of the building where the Company's principal place of business in Hong Kong was located changed from "Sunshine Centre" to "Dah Sing Financial Centre", the Company's principal place of business in Hong Kong was changed to 40th Floor, Dah Sing Financial Centre, 248 Queen's Road East, Wanchai, Hong Kong.
For details, please refer to the announcement on changes of the Company's principal place of business in Hong Kong dated 8 March 2021 and announcement on changes of the Company's registered address dated 29 April 2021, which were posted on the websites of the Shanghai Stock Exchange, the HKEX and the Company, and/or on China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily in the PRC.
4. Strategic reorganization of the Controlling Shareholder
On 14 August 2020, a merger agreement was entered into between the former Shandong Energy Group and the former Yankuang Group, pursuant to which, the former Yankuang Group, being the surviving company, was renamed as "Shandong Energy Group", and the Controlling Shareholder of the Company remained unchanged. Since the date of the completion of the merger, all the assets, liabilities, business activities, staff, contracts, certifications as well as the rights and obligations of the former Shandong Energy Group were inherited, undertaken and enjoyed by the surviving company.
As at the date of this report, the relevant delivery and industrial and commercial registration of changes
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procedures of the strategic reorganization have completed.
For details, please refer to the announcement on strategic reorganization of the Controlling Shareholder dated on 12 July 2020, the announcement on update on the strategic reorganization of the Controlling Shareholder dated 14 August 2020, the announcement on completion of the strategic reorganization of the Controlling Shareholder on 30 November 2020 and the announcement on the completion of industrial and commercial registration of changes on 1 April 2021, which were posted on the websites of the Shanghai Stock Exchange, the HKSE and the Company, and/or on China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily in the PRC.
5. Exercise of options under the Share Option Scheme
The number of exercisable shares of the first exercise period of the Share Option Scheme is 14,184,060, and the exercised period is from 18 February 2021 to 11 February 2022. From 18 February 2021 to 31 March 2021, the total number of exercised options which completed the share transfer registration is 13,041,592 shares, accounting for 91.95% of the total exercisable share options.
After the exercise, the total number of issued shares of the Company increased from 4,860,000,000 shares to 4,873,041,592 shares, which did not have a significant impact on the Company's financial conditions and operating results.
For details, please refer to the announcement on result of independent exercise of shares and shares changes in the first quarter of 2021 dated 2 April 2021, which was posted on the websites of the Shanghai Stock Exchange, the HKEX and the Company, and/or on China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily in the PRC.
- Commitments that have not been fulfilled during the Reporting Period Not applicable.
- Statements on the warnings and reasons for the expected accumulated net profit may be negative from the beginning of 2021 till the end of the next reporting period or there might be significant changes to accumulated net profit as compared with the corresponding period of the previous year.
Not applicable.
III. DIRECTORS
As at the date of this announcement, the Directors of the Company are Mr. Liu Jian, Mr. Wu Xiangqian, Mr. Zhao Qingchun, Mr. He Jing and Mr. Wang Ruolin, and the independent non-executive Directors of the Company are Mr. Tian Hui, Mr. Zhu Limin, Mr. Cai Chang and Mr. Poon Chiu Kwok.
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IV. APPENDIX
4.1 Financial Statement
Consolidated Balance Sheet | |||||||
31 March 2021 | |||||||
Prepared by: Yanzhou Coal Mining Company Limited | Unit: RMB'000 | Unaudited | |||||
Items | As of 31 March 2021 | As of 31 December 2020 | |||||
Current assets: | |||||||
Money funds | 24,220,963 | 24,542,359 | |||||
Clearing settlement funds | |||||||
Lending to banks and other financial | |||||||
institutions | |||||||
Tradable financial assets | 136,848 | 148,291 | |||||
Derivative financial assets | |||||||
Notes receivable | 62,884 | 69,579 | |||||
Accounts receivable | 3,990,281 | 3,979,211 | |||||
Receivable financing | 3,140,761 | 3,242,656 | |||||
Prepayments | 3,757,238 | 3,395,275 | |||||
Premium receivable | |||||||
Reinsurance accounts receivable | |||||||
Reserve | for | reinsurance | contract | ||||
receivable | |||||||
Other receivables | 3,425,552 | 3,128,714 | |||||
Including:interests receivable | 43,306 | 123,615 | |||||
dividends receivable | 140,296 | 144,296 | |||||
Purchase of resold financial assets | |||||||
Inventories | 7,886,927 | 7,714,660 | |||||
Contract assets | |||||||
Held-to-sale assets | 8,548 | 8,578 | |||||
Non-current assets due within one year | 2,344,514 | 1,763,523 | |||||
Other current assets | 10,130,506 | 10,079,190 | |||||
TOTAL CURRENT ASSETS | 59,105,022 | 58,072,036 | |||||
NON-CURRENT ASSETS: | |||||||
Disbursement of loans and advances | |||||||
Debt investment | 70,982 | 71,231 | |||||
Other debt investments | |||||||
Long-term accounts receivable | 3,406,480 | 3,835,859 | |||||
Long-term equity investment | 19,068,122 | 19,025,567 | |||||
Other equity instruments investment | 15,195 | 15,027 | |||||
Other non-current financial assets | 1,426,794 | 1,439,148 | |||||
Investment properties | 1,385,110 | 1,385,110 | |||||
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Fixed assets | 70,225,187 | 66,113,662 |
Construction in progress | 18,016,459 | 23,455,685 |
Productive biological asset | ||
Oil gas asset | ||
Right-of-use asset | 1,703,622 | 1,750,230 |
Intangible asset | 58,299,957 | 58,855,035 |
Development expenditure | ||
Goodwill | 337,472 | 338,146 |
Long-term deferred expenses | 171,820 | 185,029 |
Deferred income tax assets | 2,825,567 | 2,772,144 |
Other non-current assets | 21,615,698 | 21,596,132 |
TOTAL NON-CURRENT ASSETS | 198,568,465 | 200,838,005 |
TOTAL ASSETS | 257,673,487 | 258,910,041 |
CURRENT LIABILITIES: | ||
Short-term borrowings | 18,374,112 | 15,714,338 |
Borrowings from central bank | ||
Funds borrowed | ||
Tradable financial liabilities | 155,490 | 231,971 |
Derivative financial liabilities | ||
Notes payable | 9,719,234 | 9,881,190 |
Accounts payable | 11,298,785 | 14,042,415 |
Advances from customers | ||
Contract liabilities | 3,997,837 | 3,176,540 |
Amounts from sale of repurchased | ||
financial assets | ||
Deposits from customers and interbank | ||
Funds received as agent of stock exchange | ||
Funds received as stock underwrite | ||
Salaries and wages payable | 1,640,203 | 1,751,767 |
Taxes and surcharges payable | 1,478,347 | 1,751,934 |
Other payables | 34,666,814 | 37,805,118 |
Including: interests payable | 1,016,723 | 1,625,981 |
dividends payable | 12,053 | 15,422 |
Handling charges and commissions | ||
payable | ||
Reinsurance accounts payable | ||
Held-to-sale liabilities | ||
Non-current liabilities due within one year | 16,669,656 | 17,254,470 |
Other current liabilities | 2,589,340 | 471,341 |
TOTAL CURRENT LIABILITIES | 100,589,818 | 102,081,084 |
NON-CURRENT LIABILITIES: | ||
Reserve for insurance contract | ||
25/ 38 |
Long-term borrowings | 42,263,993 | 34,913,441 | |||
Bonds payable | 20,945,927 | 25,967,378 | |||
Including: preferred shares | |||||
perpetual bonds | |||||
Lease liabilities | 1,119,861 | 1,134,000 | |||
Long-term payables | 3,063,006 | 3,051,016 | |||
Long-term salaries and wages payable | 491,186 | 504,040 | |||
Accrued liabilities | 3,996,383 | 3,953,860 | |||
Deferred income | 173,156 | 161,571 | |||
Deferred income tax liabilities | 7,273,910 | 6,994,093 | |||
Other non-current liabilities | 261,697 | 367,178 | |||
TOTAL | NON-CURRENT | 79,589,119 | 77,046,577 | ||
LIABILITIES | |||||
TOTAL LIABILITIES | 180,178,937 | 179,127,661 | |||
OWNERS' EQUITY (OR | |||||
SHAREHOLDERS' EQUITY): | |||||
Paid-in capital (or share capital) | 4,873,042 | 4,860,000 | |||
Other equity instruments | 5,217,667 | ||||
Including: preferred shares | |||||
perpetual bonds | 5,217,667 | ||||
Capital reserves | 202,599 | 155,068 | |||
Less: treasury stock | |||||
Other comprehensive income | -5,625,997 | -5,612,526 | |||
Special reserve | 3,997,206 | 3,561,748 | |||
Surplus reserve | 509,907 | 509,907 | |||
Provision for general risk | |||||
Undistributed earnings | 47,550,607 | 45,426,530 | |||
Total owners' equity(or shareholders' | 51,507,364 | 54,118,394 | |||
equity) attributable to parent company | |||||
Minority shareholders' interest | 25,987,186 | 25,663,986 | |||
TOTAL OWNERS' EQUITY | (OR | 77,494,550 | 79,782,380 | ||
SHAREHOLDERS' EQUITY) | |||||
TOTAL | LIABILITIES | AND | 257,673,487 | 258,910,041 | |
SHAREHOLDERS' EQUITY | |||||
Person in charge of the Company:Xiao Yaomeng | Chief Financial Officer: Zhao Qingchun | ||||
Head of Accounting Department: Xu Jian |
26/ 38
Balance Sheet of the Parent Company | ||||
31 March 2021 | ||||
Prepared by: Yanzhou Coal Mining Company Limited | Unit: RMB'000 | Unaudited | ||
Items | As of 31 March 2021 | As of 31 December 2020 | ||
CURRENT ASSETS: | ||||
Money Funds | 3,839,764 | 3,832,934 | ||
Tradable financial assets | ||||
Derivative financial assets | ||||
Notes receivables | ||||
Accounts receivable | 2,270,371 | 1,582,969 | ||
Accounts receivable financing | 1,474,400 | 1,824,316 | ||
Prepayments | 159,243 | 46,181 | ||
Other receivables | 44,162,965 | 46,415,380 | ||
Including: Interests receivable | 1,685,679 | 1,867,714 | ||
Dividends payable | ||||
Inventories | 585,004 | 474,837 | ||
Contract assets | ||||
Held-to-sale assets | ||||
Non-current assets due within one year | ||||
Other current assets | 1,358,115 | 1,297,900 | ||
TOTAL CURRENT ASSETS | 53,849,862 | 55,474,517 | ||
NON-CURRENT ASSETS: | ||||
Creditors' investment | ||||
Other creditors' investment | ||||
Long-term accounts receivable | ||||
Long-term equity investments | 91,549,460 | 91,377,666 | ||
Other equity instruments investments | 4,642 | 4,660 | ||
Other non-current financial assets | ||||
Investment real estate | ||||
Fixed assets | 6,233,649 | 6,465,735 | ||
Construction in progress | 976,892 | 970,197 | ||
Productive biological assets | ||||
Oil and gas assets | ||||
Right-of-use assets | 4,526,340 | 4,687,097 | ||
Intangible assets | 1,053,061 | 1,102,941 | ||
Development expenditure | ||||
Goodwill | ||||
Long-term deferred expenses | ||||
Deferred income tax assets | 1,181,391 | 1,165,818 | ||
Other non-current assets | 335,672 | 316,293 | ||
TOTAL NON-CURRENT ASSETS | 105,861,107 | 106,090,407 | ||
TOTAL ASSETS | 159,710,969 | 161,564,924 | ||
27/ 38 |
CURRENT LIABILITIES: | |||
Short-term borrowings | 18,100,000 | 18,840,000 | |
Tradable financial liabilities | 153,055 | 153,055 | |
Derivative financial liabilities | |||
Notes payable | 2,404,099 | 2,218,131 | |
Accounts payable | 2,200,952 | 3,225,589 | |
Advances from customers | |||
Liabilities of contract | 660,059 | 733,242 | |
Salary payable | 664,527 | 625,552 | |
Taxes and surcharges payable | 508,260 | 824,210 | |
Other payables | 33,006,847 | 33,029,746 | |
Including: Interests payable | 911,174 | 1,038,733 | |
Dividends payable | 12,053 | 11,878 | |
Liabilities classified as held for sale | |||
Non-current liabilities due within one year | 8,826,524 | 7,641,236 | |
Other current liabilities | 2,092,620 | 95,321 | |
TOTAL CURRENT LIABILITIES | 68,616,943 | 67,386,082 | |
NON-CURRENT LIABILITIES: | |||
Long-term borrowings | 21,053,223 | 19,872,205 | |
Bonds payable | 16,994,304 | 16,990,292 | |
Including: preferred shares | |||
perpetual bonds | |||
Lease liabilities | 4,026,702 | 3,909,342 | |
Long-term payable | 37,251 | 41,379 | |
Long-term employee benefits payable | |||
Accrued liabilities | |||
Deferred income | 119,089 | 114,395 | |
Deferred income tax liabilities | 70 | 74 | |
Other non-current liabilities | |||
TOTAL | NON-CURRENT | 42,230,639 | 40,927,687 |
LIABILITIES | |||
TOTAL LIABILITIES | 110,847,582 | 108,313,769 | |
OWNERS' EQUITY(OR SHAREHOLDERS' | |||
EQUITY): | |||
Paid-in capital (share capital) | 4,873,042 | 4,860,000 | |
Other equity instruments | 5,217,667 | ||
Including: preferred shares | |||
perpetual bonds | 5,217,667 | ||
Capital reserve | 111,982 | 64,450 | |
Less:treasury shares | |||
Other comprehensive income | 70,842 | 35,516 | |
Special reserve | 2,417,026 | 2,279,603 | |
28/ 38 |
Surplus reserve | 2,300,353 | 2,300,353 | ||
Undistributed profit | 39,090,142 | 38,493,566 | ||
TOTAL OWNER'S EQUITY | (OR | 48,863,387 | 53,251,155 | |
SHAREHOLDERS'S EQUITY) | ||||
TOTAL LIABILITIES | AND | |||
OWNERS'EQUITY | (OR | 159,710,969 | 161,564,924 | |
SHAREHOLDERS' EQUITY) | ||||
Person in charge of the Company:Xiao Yaomeng | Chief Financial Officer: Zhao Qingchun | |||
Head of Accounting Department: Xu Jian |
Consolidated Income Statements | |||||||
From January to March 2021 | |||||||
Prepared by: Yanzhou Coal Mining Company Limited | Unit: RMB'000 | Unaudited | |||||
Items | From January to March | From January to March | |||||
2021 | 2020 | ||||||
I. Total Operating Revenue | 31,055,994 | 48,005,960 | |||||
Including: Operating revenue | 31,055,994 | 48,005,960 | |||||
Interest income | |||||||
Premium earned | |||||||
Service | charges and | ||||||
commission income | |||||||
II. Total Operating Costs | 28,338,755 | 45,096,386 | |||||
Including: Operating costs | 23,973,723 | 41,605,021 | |||||
Interest expenses | |||||||
Service charge and commission | |||||||
expenses | |||||||
Surrender value | |||||||
Net claim settlement expenses | |||||||
Net insurance liability reserve | |||||||
Policy dividend expenses | |||||||
Reinsurance expenses | |||||||
Taxes and surcharges | 814,722 | 643,892 | |||||
Selling expenses | 1,343,380 | 1,257,903 | |||||
Administrative expenses | 1,151,947 | 1,133,953 | |||||
Research | and | development | 97,387 | 49,849 | |||
expenses | |||||||
Financial expenses | 957,596 | 405,768 | |||||
Including:Interest expense | 1,136,480 | 884,452 | |||||
Interest income | 199,676 | 256,521 | |||||
Add: Other income | 14,479 | 19,285 | |||||
29/ 38 |
Investment income ("-" for loss) | 246,064 | 190,287 | ||||||||||
Including: | Investment | income | 252,888 | 187,888 | ||||||||
from associates and joint ventures | ||||||||||||
Termination | recognition | income | ||||||||||
from financial assets measured at | ||||||||||||
amortized costs | ||||||||||||
Exchange earning ("-" for loss) | ||||||||||||
Net exposure hedging income ("-" | -82,464 | -284,894 | ||||||||||
for loss) | ||||||||||||
Gains from fair value changes ("- " | -8,540 | -15 | ||||||||||
for loss) | ||||||||||||
Loss from credit impairment ("- " | -90,911 | -7,760 | ||||||||||
for loss) | ||||||||||||
Loss | from asset | devaluation | ("- | " | 41,982 | 20,378 | ||||||
for loss) | ||||||||||||
Gains on disposal of assets ("- " for | 10,090 | 83 | ||||||||||
loss) | ||||||||||||
III. Operating profit ("-" for loss) | 2,847,939 | 2,846,938 | ||||||||||
Add: Non-operating income | 63,441 | 103,642 | ||||||||||
Less: Non-operating expenses | 49,033 | 19,115 | ||||||||||
IV. Total | Profit | ("-" | for | the | total | 2,862,347 | 2,931,465 | |||||
loss) | ||||||||||||
Less: Income tax expenses | 601,240 | 728,036 | ||||||||||
V. Net profit ("-" for the net loss) | 2,261,107 | 2,203,429 | ||||||||||
(I)By business continuity: | ||||||||||||
1.Net | profit | from | continuous | 2,261,107 | 2,203,429 | |||||||
operation ("- " for the net loss) | ||||||||||||
2.Net | profit | from | terminated | |||||||||
operation ("- " for the net loss) | ||||||||||||
(II)By ownership: | ||||||||||||
1. | Net | profit | attributable | to | 2,251,001 | 1,729,030 | ||||||
parent company ("- " for the net loss) | ||||||||||||
2. | Net | profit | attributable | to | ||||||||
holders of other equity instruments of | 44,833 | 147,875 | ||||||||||
the parent company ("- " for the net | ||||||||||||
loss) | ||||||||||||
3.Attributable | to | minority | -34,727 | 326,524 | ||||||||
shareholders ("- " for the net loss) | ||||||||||||
VI. Net | after | tax | from | other | 323,494 | -4,439,222 | ||||||
comprehensive income | ||||||||||||
(I)Net | after | tax | from | other | ||||||||
comprehensive | income | attributable | to | -13,471 | -2,788,929 | |||||||
the owners of parent company | ||||||||||||
30/ 38 |
1.Other comprehensive income not | -14 | -30 | |||||
be reclassified as profit or loss later | |||||||
(1)Changes in re-measurement of | |||||||
defined benefit plans | |||||||
(2)Portion | of | other | comprehensive | ||||
income of investees not to be | |||||||
reclassified as profit or loss under | |||||||
equity method | |||||||
(3)Changes in fair value of investments | -14 | -30 | |||||
in other equity instruments | |||||||
(4)Changes in the fair value of the | |||||||
enterprise's own credit risk | |||||||
2.Other comprehensive income to | -13,457 | -2,788,899 | |||||
be reclassified as profit or loss | |||||||
(1)Portion | of | other | comprehensive | 35,339 | |||
income of investees to be reclassified | |||||||
as profit or loss under equity method | |||||||
(2)Changes in fair value of investments | |||||||
in other equity instruments | |||||||
(3)Financial assets reclassified to other | |||||||
comprehensive income | |||||||
(4)Provision for Impairment of Credit | |||||||
for Investment of Other Creditor | |||||||
Rights | |||||||
(5)Cash flow hedging reserve | 595,008 | -488,654 | |||||
(6)Exchange differences on translation | |||||||
of financial statements recorded in | -643,804 | -2,560,277 | |||||
foreign currency | |||||||
(7)others | - | 260,032 | |||||
(II)Net | after | tax | from | other | |||
comprehensive | income | attributable to | 336,965 | -1,650,293 | |||
the minority shareholder | |||||||
VII. Total comprehensive income | 2,584,601 | -2,235,793 | |||||
(I)Total | comprehensive | income | 2,237,530 | -1,059,899 | |||
attributable to parent company | |||||||
(II)Total | comprehensive | income | 44,833 | 147,875 | |||
attributable to holders of other equity | |||||||
instruments of the parent company | |||||||
(III)Total | comprehensive | income | 302,238 | -1,323,769 | |||
attributable to minority shareholders | |||||||
VIII. Earnings per share | |||||||
(I)Basic | earnings | per | share | 0.4628 | 0.3520 | ||
(RMB/share) | |||||||
(II)Diluted | earnings | per | share | 0.4628 | 0.3520 | ||
(RMB/share) | |||||||
31/ 38 |
Person in charge of the Company: Xiao Yaomeng | Chief Financial Officer: Zhao Qingchun |
Head of Accounting Department: Xu Jian |
Income Statements of the Parent Company
From January to March 2021
Prepared by: Yanzhou Coal Mining Company Limited | Unit: RMB'000 | Unaudited | |||||
Items | From January to March | From January to March | |||||
2021 | 2020 | ||||||
I. Operating revenue | 4,681,740 | 5,472,263 | |||||
Less:Operating costs | 2,884,317 | 3,419,691 | |||||
Taxes and surcharges | 229,236 | 258,931 | |||||
Selling expenses | 63,726 | 109,827 | |||||
Administrative expenses | 492,306 | 478,553 | |||||
Research | and | development | 11,164 | 13,352 | |||
expenses | |||||||
Financial expenses | 229,416 | 164,263 | |||||
Including:Interest expense | 775,113 | 698,854 | |||||
Interest income | 595,306 | 573,720 | |||||
Add: Other income | 11,911 | 2,909 | |||||
Investment income ("-" for loss) | 79,455 | 231,817 | |||||
Including: Investment | income | from | 79,455 | 231,817 | |||
associates and joint ventures | |||||||
Termination recognition income from | |||||||
financial assets measured at amortized costs | |||||||
Net exposure | hedging | income | ("-" | -20,881 | -7,326 | ||
for loss) | |||||||
Gains from fair value changes ("- " | |||||||
for loss) | |||||||
Loss from credit impairment ("- " for | |||||||
loss) | |||||||
Loss from asset devaluation ("- " for | |||||||
loss) | |||||||
Gains on disposal of assets ("- " for | 10,045 | 82 | |||||
loss) | |||||||
II. Operating profit ("-" for loss) | 852,105 | 1,255,128 | |||||
Add: Non-operating income | 53,439 | 56,162 | |||||
Less: Non-operating expenses | 31,104 | 1,609 | |||||
III. Total Profit ("-" for the total loss) | 874,440 | 1,309,681 | |||||
Less: Income tax expenses | 233,031 | 333,913 | |||||
IV. Net profit ("-" for the net loss) | 641,409 | 975,768 | |||||
32/ 38 |
(I) Net profit from continuous operation ("- " | 641,409 | 975,768 |
for the loss) | ||
(II)Net profit from terminated operation ("- " | ||
for the net loss) | ||
Classified by attributed ownership: | ||
(I) Net profit attributable to the parent | 596,576 | 827,893 |
shareholder | ||
(II) Net profit attributable to holders of other | 44,833 | 147,875 |
equity instruments | ||
V. Net other comprehensive income after | 35,325 | 25,479 |
tax | ||
(I) Other comprehensive income not be | -14 | -30 |
reclassified as profit or loss | ||
1. Changes in re-measurement of defined | ||
benefit plans | ||
2. Portion of other comprehensive income | ||
of investees not to be reclassified as profit or | ||
loss on equity basis | ||
3. Changes in fair value of investments in | -14 | -30 |
other equity instruments | ||
4. Changes in the fair value of the | ||
enterprise's own credit risk | ||
(II) Other comprehensive income to be | 35,339 | 25,509 |
reclassified as profit or loss | ||
1. Portion of other comprehensive income | ||
of investees to be reclassified as profit or | 35,339 | 25,509 |
loss on equity basis | ||
2. Changes in fair value of other debt | ||
investment | ||
3. Financial assets reclassified to other | ||
comprehensive income | ||
4. Provision for impairment of credit for | ||
investment of other creditor rights | ||
5. Cash flow hedging reserve | ||
6. Exchange differences on translation of | ||
financial statements recorded in foreign | ||
currency | ||
7. Others | ||
VI. Total comprehensive income | 676,734 | 1,001,247 |
Total comprehensive income attributable to | 631,901 | 853,372 |
the parent shareholder | ||
Total comprehensive income attributable to | 44,833 | 147,875 |
holders of other equity instruments | ||
33/ 38 |
VII. Earnings per share | |||
(I)Basic earnings per share(RMB/share) | 0.1226 | 0.1685 | |
(II)Diluted earnings per share (RMB/share) | 0.1226 | 0.1685 | |
Person in charge of the Company:Xiao Yaomeng | Chief Financial Officer: Zhao Qingchun | ||
Head of Accounting Department: Xu Jian |
Consolidated Cash Flow Statement
From January to March 2021
Prepared by: Yanzhou Coal Mining Company Limited | Unit:RMB'000 Unaudited | |||
Item | From January to March | From January to March | ||
2021 | 2020 | |||
I. CASH FLOW FROM OPERATING | ||||
ACTIVITIES: | ||||
Cash received from sales of goods or rendering | 29,880,997 | 48,924,885 | ||
of services | ||||
Net increase in customer's deposit and deposit | 125,619 | -1,624,385 | ||
of interbank | ||||
Net increase in borrowing from the Central | ||||
Bank | ||||
Net increase in borrowing from other financial | ||||
institutions | ||||
Cash received from the original insurance | ||||
contract premium | ||||
Net cash received from the reinsurance | ||||
businesses | ||||
Net increase in insured savings and investment | ||||
funds | ||||
Cash received from interest, charges and | ||||
commissions | ||||
Net increase in loans from other banks and | ||||
other financial institutions | ||||
Net increase in funds in repurchase business | ||||
Net cash received from agent in buying and | ||||
selling securities | ||||
Tax and charges refunded | 211,756 | 188,577 | ||
Other cash received relating to | operating | 2,687,779 | 2,064,691 | |
activities | ||||
Sub-total of cash inflows | 32,906,151 | 49,553,768 | ||
Cash paid for goods and services purchased | 21,386,429 | 38,901,526 | ||
34/ 38 |
Net increase in customer loans and advance | 522,888 | 410,182 | |||
Net increase in deposits of central bank and | |||||
interbank | |||||
Cash paid for the indemnity under original | |||||
insurance contract | |||||
Net increase in lending to banks and other | |||||
financial institutions | |||||
Cash paid for interest, charges and | |||||
commissions | |||||
Cash paid for policy dividend | |||||
Cash paid to and on behalf of employees | 3,461,113 | 3,142,237 | |||
Taxes and charges payments | 2,648,455 | 2,699,347 | |||
Other cash paid relating to operating activities | 1,728,443 | 1,350,978 | |||
Sub-total of | cash outflows from operating | 29,747,328 | 46,504,270 | ||
activities | |||||
Net cash flow from operating activities | 3,158,823 | 3,049,498 | |||
II. NET CASH FLOW FROM INVESTMENT | |||||
ACTIVITIES | |||||
Cash received from recovery of investments | 574,832 | 371,622 | |||
Cash received from investments return | 47,208 | 26,380 | |||
Net cash received from disposal of fixed | |||||
assets, intangible assets and other long-term | 825 | 219 | |||
assets | |||||
Net cash amount received from disposal of | |||||
subsidiaries and other business segments | |||||
Cash received from other investment activities | |||||
Sub-total of cash inflows from investment | 622,865 | 398,221 | |||
activities | |||||
Cash paid to acquire | fixed assets, | intangible | 2,279,288 | 2,486,021 | |
assets and other long-term assets | |||||
Cash paid for investments | 571,582 | 155,656 | |||
Net increase in pledged loans | |||||
Net cash paid | for acquisition of subsidiaries | 500,750 | 267,484 | ||
and other business units | |||||
Other cash paid relating to investment | 32,483 | ||||
activities | |||||
Sub-total of cash outflows from investment | 3,351,620 | 2,941,644 | |||
activities | |||||
NET | CASH | FLOW | FROM | -2,728,755 | -2,543,423 |
INVESTMENT ACTIVITIES | |||||
III. CASH FLOW FROM FINANCING | |||||
ACTIVITIES: | |||||
Cash received from investors | 98,073 | 232,500 | |||
35/ 38 |
Including: | Cash | received | from | minority | ||||
shareholders of subsidiaries | ||||||||
Cash received from borrowings | 16,714,557 | 16,074,340 | ||||||
Other cash | received | relating to | financing | 51,302 | 337,192 | |||
activities | ||||||||
Sub-total | of cash | inflows | from | financing | 16,863,932 | 16,644,032 | ||
activities | ||||||||
Repayments of borrowings and debts | 12,894,219 | 8,101,655 | ||||||
Cash paid for distribution of dividends, profits, | 1,920,958 | 3,134,527 | ||||||
or cash paid for interest expenses | ||||||||
Including: | cash paid for distribution of | |||||||
dividends or profits by subsidiaries to minority | ||||||||
shareholders | ||||||||
Other cash paid relating to financing activities | 1,429,236 | 1,029,928 | ||||||
Sub-total of cash outflows | from financing | 16,244,413 | 12,266,110 | |||||
activities | ||||||||
net cash flow from financing activities | 619,519 | 4,377,922 | ||||||
IV. EFFECT OF FOREIGN EXCHANGE | ||||||||
RATE CHANGES ON CASH AND CASH | 109,252 | -112,531 | ||||||
EQUIVALENTS | ||||||||
V. NET INCREASE ON CASH AND CASH | 1,158,839 | 4,771,466 | ||||||
EQUIVALENTS | ||||||||
Add: Cash and cash equivalents, opening | 17,116,460 | 22,959,118 | ||||||
VI. CASH | AND | CASH EQUIVALENTS, | 18,275,299 | 27,730,584 | ||||
CLOSING | ||||||||
Person in charge of the Company:Xiao Yaomeng | Chief Financial Officer: Zhao Qingchun | |||||||
Head of Accounting Department: Xu Jian |
Cash Flow Statement of the Parent Company
From January to March 2021
Prepared by: Yanzhou Coal Mining Company Limited | Unit: RMB'000 | Unaudited | ||||
Items | January to March 2021 | January to March 2020 | ||||
I. CASH FLOW FROM OPERATING | ||||||
ACTIVITIES: | ||||||
Cash received from | sales of | goods and | 5,213,580 | 5,411,018 | ||
rendering of services | ||||||
Tax refunds | ||||||
Other cash received | relating | to operating | 41,955 | 102,189 | ||
activities | ||||||
36/ 38 |
Sub-total of cash inflows | 5,255,535 | 5,513,207 | ||||||
Cash paid for goods and services | 1,217,068 | 1,212,940 | ||||||
Cash paid to and on behalf of employees | 1,462,098 | 1,327,472 | ||||||
Taxes payment | 1,250,628 | 1,357,687 | ||||||
Other cash paid relating to operating activities | 229,313 | 354,905 | ||||||
Sub-total of cash outflows | 4,159,107 | 4,253,004 | ||||||
Net cash flow from operating activities | 1,096,428 | 1,260,203 | ||||||
II. CASH FLOW FROM INVESTMENT | ||||||||
ACTIVITIES: | ||||||||
Cash received from recovery of investments | ||||||||
Cash received from investment return | ||||||||
Net cash received from disposal of fixed | ||||||||
assets, intangible assets and other long-term | 16 | 2 | ||||||
assets | ||||||||
Net cash amount received from the disposal of | ||||||||
subsidiaries and other business units | ||||||||
Other | cash | received | relating | to | investment | 8,670,692 | 2,652,063 | |
activities | ||||||||
Sub-total of cash inflows from investment | 8,670,708 | 2,652,065 | ||||||
activities | ||||||||
Cash paid to acquire | fixed | assets, | intangible | 4,645 | 7,434 | |||
assets and other long-term assets | ||||||||
Cash paid for investments | 949,690 | 135,000 | ||||||
Net cash paid for the acquisition of | ||||||||
subsidiaries and other business units | ||||||||
Other | cash | paid relating | to | investment | 4,926,682 | 2,294,215 | ||
activities | ||||||||
Sub-total of cash outflows from investment | 5,881,017 | 2,436,649 | ||||||
activities | ||||||||
Net cash flow from investing activities | 2,789,691 | 215,416 | ||||||
III. CASH FLOW FROM FINANCING | ||||||||
ACTIVITIES: | ||||||||
Cash received from investors | 98,073 | - | ||||||
Cash received from borrowings | 11,129,985 | 11,505,225 | ||||||
Cash received relating to other financing | ||||||||
activities | ||||||||
Sub-total | of cash | inflows from financing | 11,228,058 | 11,505,225 | ||||
activities | ||||||||
Repayments of borrowings and debts | 12,474,348 | 4,671,575 | ||||||
Cash | paid for distribution | of | dividends or | 1,105,765 | 2,766,290 | |||
profits, or cash paid for interest expenses | ||||||||
Other | cash | payment | relating | to | financing | 1,557,254 | 2,616,235 | |
activities | ||||||||
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Sub-total of cash outflows from financing | 15,137,367 | 10,054,100 | |
activities | |||
Net cash flow from financing activities | -3,909,309 | 1,451,125 | |
IV. EFFECT OF FOREIGN EXCHANGE | |||
RATE CHANGES ON CASH AND CASH | 9,140 | 8,266 | |
EQUIVALENTS | |||
V. NET INCREASE ON CASH AND CASH | -14,050 | 2,935,010 | |
EQUIVALENTS | |||
Add: Cash and cash equivalents, opening | 3,186,249 | 4,588,562 | |
VI. CASH AND CASH EQUIVALENTS, | 3,172,199 | 7,523,572 | |
CLOSING | |||
Person in charge of the Company:Xiao Yaomeng | Chief Financial Officer: Zhao Qingchun | ||
Head of Accounting Department: Xu Jian |
4.2 The adjustments of the relevant items of the financial statements at the beginning of the year due
to the first implementation of new income standards and new leasing standards since 2021 Not applicable.
4.3 The explanation on the retrospective adjustment of comparative data in previous reporting period due to the first implementation of new income standards and new lease standards since 2021
Not applicable.
4.4 Audit report Not applicable.
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Yanzhou Coal Mining Co. Ltd. published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 08:50:02 UTC.