Guanghui Energy (600256) H2 2024 earnings summary

Executive summary

• Revenue for 2024 was ¥36.44 billion, down 40.72% year-over-year; net profit attributable to shareholders was ¥2.96 billion, down 42.60%.

• Coal segment achieved record production and sales, with raw coal output up 78.52% and sales up 52.39% year-over-year.

• LNG production increased 17.58%, but total natural gas sales volume dropped 52.95% due to reduced international trade.

• Coal chemical segment saw methanol output rise 18.43% and ethylene glycol up 23.73%, while coal-based oil products fell 12.67%.

• Company advanced green transformation, with hydrogen and CCUS demonstration projects operational and new energy initiatives underway.

Financial highlights

• Operating income: ¥36.44 billion, down 40.72% year-over-year.

• Net profit attributable to shareholders: ¥2.96 billion, down 42.60% year-over-year.

• Operating cash flow: ¥5.68 billion, down 16.64% year-over-year.

• Basic and diluted EPS: ¥0.452, down 42.99% year-over-year.

• Gross margin improved to 20.68%, up 4.33 percentage points.

• Total assets at year-end: ¥56.84 billion, down 3.24% from prior year.

Outlook and guidance

• 2025 focus on stable coal production, accelerating new energy and hydrogen projects, and enhancing management efficiency.

• Company aims to further expand coal capacity, develop green hydrogen, and strengthen risk management.

• Strategic emphasis on supporting national energy security and Xinjiang’s industrial cluster development.