Pingdingshan Tianan Coal Mining (601666) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 5.40 billion, down 34.69% year-over-year due to lower coal prices.

• Net profit attributable to shareholders fell 79.50% year-over-year to RMB 151.76 million.

• Cash flow from operating activities dropped 83.24% year-over-year to RMB 474.60 million.

• The company completed the acquisition of a 60% stake in Wusu Sikeshu Coal, consolidating from Jan 1, 2025.

Financial highlights

• Basic EPS was RMB 0.0613, down 80.58% year-over-year; diluted EPS was RMB 0.0613, down 79.72%.

• Gross margin and net margin declined sharply, reflecting the impact of falling coal prices.

• Total assets increased 7.57% from year-end 2024 to RMB 82.46 billion.

• Shareholders' equity rose 2.07% to RMB 26.71 billion.

• Non-recurring losses of RMB 24.67 million were recorded, mainly from asset disposals and other items.

Segment performance

• Operating income and net profit for both the group and parent company declined significantly year-over-year, mainly due to lower coal prices and increased management expenses.

• Inventory increased 68.91% as sales slowed.