Huaibei Mining (600985) Q4 2024 earnings summary

Executive summary

• Total assets reached ¥87.74 billion at year-end, up 0.87% year-over-year; net assets attributable to shareholders rose 13.64%.

• Annual revenue was ¥65.74 billion, down 10.43% year-over-year; net profit attributable to shareholders was ¥4.86 billion, down 22%.

• EPS was ¥1.84, a decrease of 26.69% year-over-year.

• The company maintained a stable operational stance despite a challenging coal and coke market, focusing on safety, cost control, and project advancement.

Financial highlights

• Revenue: ¥65.74 billion, down 10.43% year-over-year.

• Net profit attributable to shareholders: ¥4.86 billion, down 22% year-over-year.

• Operating cash flow: ¥9.06 billion, down 30.45% year-over-year.

• Gross margin for coal products: 49.77%; for coal chemical products: 19.34%.

• Dividend payout ratio: 41.60% of net profit, with a proposed cash dividend of ¥0.75 per share.

Outlook and guidance

• 2025 targets: revenue ¥63.7 billion, net profit attributable to shareholders ¥3.34 billion.

• Production targets: 19.2 million tons of commercial coal, 4.2 million tons of coke, 570,000 tons of ethanol.

• Focus on safety, efficiency, cost control, and advancing key projects in coal, chemicals, and new energy.