On the morning of 8 April, Yankuang Energy (600188SH;1171HK) held its 2023 annual results presentation in Hong Kong. Li Wei, Chairman of Yankuang Energy, and Xiao Yaomeng, Party Secretary, Director and General Manager of Yankuang Energy, as well as the senior management of Yancoal Australia, attended the meeting, as a way to present the 2023 performance to the global market, hold in-depth communication with domestic and foreign investors, analysts, and reporters, and answer the questions on the capital market in detail.
Li Wei highlighted the achievements of Yankuang Energy in its five major industries and elaborated the transformation of industrial layout, assets improvement, cost reduction, international expansion, and better dividend payments.
Li Wei stated that despite the complex and severe macroeconomic situation and the sharp fluctuations in the energy market in 2023, Yankuang Energy always maintained strategic firmness, remained steadfast in development, and implemented targeted measures, achieving historically-high operational performance.
According to International Financial Reporting Standards, the Company achieved a revenue of RMB118.4 billion and a net profit of RMB17.8 billion, leading the industry in terms of profitability.
Regarding the market dynamics in 2024, Li Wei expressed that the Chinese government will further intensify economic development and maintain the continued growth in coal demand. With limited growth space in domestic and international coal supply, it is expected that domestic and international coal prices will maintain a narrow fluctuation around the medium level, but still at a relatively high level within the long cycle. The continuous recovery of the chemical market will drive market demand growth, improve the loose supply pattern, and promote the rebound of chemicals’ prices.
Looking forward to 2024, Li Wei stated that Yankuang Energy will expedite the construction of new energy system so as to promote development in a green, low-carbon, and high-quality way. Yankuang Energy’s advantageous strength in traditional energy sector will provide a solid foundation for nurturing new energy industry The Company will take the lead in green, low-carbon development, optimize traditional industries and emerging industries, advance new industrialization, and create new-quality productive forces.
Focusing on the development of new productive forces and green, low-carbon transformation, Li Wei expressed the aim to achieve the development goals of key projects outlined in the "1385" plan within five years. Efforts will be concentrated on building a "first-class enterprise", tackling challenges such as achieving production goals, reducing costs and launching key projects. The Company will accelerate the progress of eight landmark and leading projects in mining and high-end chemicals, to ensure a leapfrog advancement in comprehensive strength, green and low-carbon transformation, efficient governance, technological innovation, and open & inclusive integration.
The presentation was conducted through on-site and online live streaming, attracting widespread attention from domestic and foreign capital markets. Over 450 investors, analysts, and media reporters participated both offline and online. Besides, the management has made in-depth communication with investors concerning 2024 operating targets, release of advantageous production capacity, industrial transformation and upgrading as well as key project construction.
After this event, Yankuang Energy roadshow team will hold "one-on-one" and "one-on-many" meetings globally to communicate directly with investors, promote the Company's performance, and present high growth expectation and the core value of high-quality development.
