Zhengzhou Coal and Electricity in the first half of the year reduced non-net profit by 94.49%
Securities Daily News, on the evening of August 26, Zhengzhou Coal and Electricity disclosed the semi-annual report. In the first half of the year, the company achieved operating income of 1.982 billion yuan, a year-on-year decrease of 17.04%; realized net profit attributable to shareholders of listed companies was 10.5415 million yuan, a year-on-year decrease of 89.74%.
After deducting non-post-net profit of 3.95 million yuan, a year-on-year decrease of 94.49%.
The net cash flow from operating activities was -305 million yuan, a year-on-year decrease of 308.58%.
Earnings per share of 0.01 yuan.
During the reporting period, the company achieved a raw coal output of 3.81 million tons and a power generation of 109 million kWh.
As for the sharp decline in the performance in the first half of the year, Zhengzhou Coal and Electricity explained that due to geological conditions, the two main coal mines of the company declined and the selling price decreased, resulting in a net profit attributable to listed companies in the semi-annual period of 2019.
First, the main working face of Xinzheng Coal Power was affected by normal faults, and the whole rock phenomenon appeared in the cutting lane, which led to the price of raw coal decreased by 63.52 yuan/ton compared with the same period. The net profit of listed companies decreased by 45.61 million yuan compared with the same period.
Second, the Baiping coal industry worked too thin coal belt to support thin coal mining, resulting in the price of raw coal decreased by 18.30 yuan / ton, the net profit of listed companies decreased by 69.3 million yuan over the same period.
Affected by this, Zhengzhou coal and electricity forecast from the beginning of the year to the end of the next reporting period, the company's net profit attributable to listed companies will also have a significant decline.
The carding found that Zhengzhou coal and electricity revenue continued to decline in the past three years.
In 2017, 2018, and 2019, Zhengzhou Coal and Electricity achieved operating income of 5.712 billion yuan, 4.81 billion yuan, and 1.882 billion yuan, a year-on-year decrease of 39.83%, 15.79%, and 17.04%.