On March 31, Yankuang Energy (600188.SH; 1171.HK) held its 2024 annual results presentation in Hong Kong. Chairman Li Wei, General Manager Wang Jiuhong, and Yancoal Australia’s representatives attended the event to present the company’s annual performance to global investors and analysts, and to engage in discussions on key market concerns.
Li Wei stated that despite a challenging market environment in 2024, the company maintained stable operations. Under International Financial Reporting Standards, it achieved RMB124.53 billion in revenues and RMB14.06 billion in net profits. The proposed year-end dividend is RMB0.54 per share, which, combined with the interim dividend of RMB0.23 per share, brings the total annual dividend to RMB0.77 per share. This amounts to RMB7.73 billion in total, accounting for 60% of net profits after statutory reserve deductions. All this has set a strong example of returning value to shareholders.
In terms of industrial layout, the company continued to expand its core coal and chemical businesses, achieving record-high production. Emerging sectors such as high-end equipment manufacturing, smart logistics, and new energy experienced rapid growth. Cost-reduction and efficiency-boosting measures led to a 5.4% year-on-year decrease in coal production cost to RMB345.4 per ton. The debt-to-asset ratio dropped to 63%, and financing costs reached a record low.
Regarding the outlook for 2025, Li Wei noted that the international economic environment is expected to become even more complex and severe. However, China’s economy remains stable with positive long-term prospects, and coal consumption will continue to show strong, rigid demand. The coal market is expected to remain amply supplied, with a limited decline in price benchmarks. The annual average price is still projected to fall within a favorable mid-to-long-term profitability range. The price levels for chemical products are expected to remain generally stable, with strong support for high-end chemicals.
Looking ahead to 2025, Li Wei emphasized that the company will fully leverage its core competitiveness and extensive experience, ensuring the effective implementation of its strategic roadmap and achievement of its operational goals. Focusing on high-quality development, Yankuang Energy plans to produce 155–160 million tons of product coal and 8.6–9 million tons of chemical products, aiming for a further 3% reduction in coal production costs and bringing the debt-to-asset ratio below 60%.
The results presentation was conducted online and offline, drawing significant attention from domestic and international capital markets. Over 240 investors, analysts, and media representatives attended. Following the event, the company’s investor relations team will also conduct roadshows across multiple domestic and international locations, holding both one-on-one and group meetings to engage directly with investors.
