MSCI company Xishan Coal Electricity Group released its pre-audit financial report for 2017 on Thursday, which shows a nearly 300 percent jump in its net profit.
According to the report, the company’s net profit last year is expected to lie somewhere between RMB 1,497.76 million and RMB 1,714.57 million, a huge increase of 245 percent to 295 percent from a profit of roughly RMB 434.07 million in 2016. Accordingly, its earnings per share also rose by the same margin last year to hit RMB 0.4753 to RMB 0.5441 when compared with RMB 0.1377 in 2016.
The company saw the outstanding performance of the overall coal sector last year as a result of the continuing influence of the national policies on work safety, environmental protection and capacity reduction, the supply-side reform in the coal industry, as well as a rebound in the prices of its main coal products during the reporting period.
Meanwhile, the company mentioned in the report that thanks to the sustained high prices for fuel coal, the country’s power sector also exerted influence on the company’s overall business performance to some extent.
Apart from those external factors, the company attributed the considerable growth in its net profit to the implementation of a series of reform measures, a proper adjustment to its market strategy, an optimization of its product mix, as well as an improvement of its internal management structure.
It is also worth noting that the Shanxi Coking Coal Group, the parent company of Xishan Coal Electricity Group, reached more than 20 mid-and long-term strategic agreements with its clients last November, which analysts believe would ease public concerns over the coal prices and boost the coal market as a whole.
According to the report, the company’s net profit last year is expected to lie somewhere between RMB 1,497.76 million and RMB 1,714.57 million, a huge increase of 245 percent to 295 percent from a profit of roughly RMB 434.07 million in 2016. Accordingly, its earnings per share also rose by the same margin last year to hit RMB 0.4753 to RMB 0.5441 when compared with RMB 0.1377 in 2016.
The company saw the outstanding performance of the overall coal sector last year as a result of the continuing influence of the national policies on work safety, environmental protection and capacity reduction, the supply-side reform in the coal industry, as well as a rebound in the prices of its main coal products during the reporting period.
Meanwhile, the company mentioned in the report that thanks to the sustained high prices for fuel coal, the country’s power sector also exerted influence on the company’s overall business performance to some extent.
Apart from those external factors, the company attributed the considerable growth in its net profit to the implementation of a series of reform measures, a proper adjustment to its market strategy, an optimization of its product mix, as well as an improvement of its internal management structure.
It is also worth noting that the Shanxi Coking Coal Group, the parent company of Xishan Coal Electricity Group, reached more than 20 mid-and long-term strategic agreements with its clients last November, which analysts believe would ease public concerns over the coal prices and boost the coal market as a whole.
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