Yankuang Energy fully implements the New Development Philosophy, seek both external and internal improvement, and pay equal emphasison industrial operation and capital operation, fostering five major industries of mining, high-end chemicals and new materials, new energy, high-end equipment manufacturing, and intelligent logistics, and building three major operating bases of Shandong, Shaanxi &Inner Mongolia and Australia. Looking ahead, it will work to achieve an annual coal production capacity of 300 million tons in 5-10 years, and build more than 8 green and intelligent mining coal mines each with a production capacity ofover 10 million tons.The annual output of chemicals products will exceed 20 million tons. The vision is to realize 3million kW of installed capacity of wind and solar power by the end ofthe “fourteenth five-year plan” (2021-2025), and 10million kW in 5-10 years.
On August 27th, Yankuang Energy (600188.SH; 01171.HK) held the 2022 interim results presentation. Mr. Li Wei, Chairman of Yankuang Energy, members of the Board of Directors of Yankuang Energy and heads of relevant departments attended the meeting where the results of Yankuang Energy in the first half of 2022 was presented to the global market online in the form of a telephone conference, and in-depth exchanges with investors and analysts at home and abroad were conducted.
Mr. Li Weibriefed investors on Yankuang Energy's operating results for the first half of 2022. In the first half of 2022, Yankuang Energy achieved operating revenue of RMB100.3 billion and net profit of RMB18 billion attributable to shareholders of the listed companywith respectively an increase of 53.4% and 198.5% compared with the corresponding period of the previous year. Mr.Li Wei said Yankuang Energy has benefited from its business layout of two resources and markets at home and abroad, and has fully enjoyed the dividend of rising coal prices in the Asia-Pacific region under the background of increasing domestic coal storage, ensuring coal supply as well as regulating and controlling coal prices. In the first half of the year, Yancoal Australia sold coal at the average price of RMB1,394 /ton, an increase of 196.3% compared with the corresponding period of the previous year.
Mr. Li Wei introduced that in the first half of 2022, with focus on the development strategy of “five major industries”, Yankuang Energycomprehensively implemented industrial transformation and upgrading, deepened lean management innovation and steadily carried out industrial extension, regional businesslayout and asset integration, making remarkable achievements in five aspects including operation quality, intelligent marketing, lean management and control, key projects construction and shareholder returns and making new breakthroughs in the scale, profitability and industry influence of the Company.
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