On the morning of September 2, Yankuang Energy (600188.SH; 01171.HK) held its 2024 interim results presentation in Hong Kong. Li Wei, Chairman of Yankuang Energy, Xiao Yaomeng, Party Secretary, Director, and General Manager of Yankuang Energy, along with other company leaders and representatives from Yancoal Australia, attended the meeting. They presented the 2024 interim results to the international capital market and engaged in in-depth discussions with domestic and overseas investors, analysts, and media reporters, giving detailed answers to their questions.
Li Wei explained that in the first half of 2024, despite market challenges, Yankuang Energy made strenuous efforts to overcome difficulties. It proactively responded by decisively implementing measures such as optimizing production to increase output, strengthening lean management to reduce costs and improve quality, and conducting science-based market analysis to stabilize prices and improve efficiency. These targeted actions effectively offset adverse impacts, and the production and operations met expectations. According to international financial reporting standards, Yankuang Energy achieved sales revenue of RMB62.2 billion and net income of RMB7.4 billion, which represents a leading performance in the industry and a trend-bucking growth in the second quarter.
Regarding dividends, Li Wei stated that while maintaining annual dividend distributions, Yankuang Energy decided to hand out interim dividends, distributing a cash dividend of RMB0.23 per share and a total dividend of RMB2.3 billion, and accounting for 31% of net income for the first half of the year under international standards. This dividend distribution remains at the forefront of the industry and represents a benchmark for genuine investor returns.
Li Wei outlined Yankuang Energy's operational measures in three areas: enhancing the core business’ scale, cultivating a competitive edge in emerging industries, and deepening lean management to improve quality and efficiency. He emphasized that Yankuang Energy would remain strategically focused, steadfast in achieving its annual goals, concentrating on its main business, and unswervingly implementing its development strategy and competitive approach. The company will continue to move forward through both internal improvements and external expansions, driving production and capital operations in sync, and creating solid, sustainable corporate value.
This results presentation was held on-site and online, drawing significant attention from the domestic and international capital markets. Over 230 investors, analysts, and media reporters participated.
Despite a significant decline in A-share and H-share, Yankuang Energy’s share price rose against the trend, with the A-share closing 3.03% higher than the previous trading day, and the H-share rising 1.19%. During the meeting, the management team also had in-depth discussions with investors on topics such as the release of the company's premium production capacity, asset acquisitions, cost control goals, and key project developments.
After the presentation, Yankuang Energy’s roadshow team will hold "one-on-one" and "one-to-many" meetings both domestically and internationally, to communicate directly with investors, present the company's performance, and convey expectations for high growth and high returns.
