Securities code: 000937 securities abbreviation: Jizhong Energy Resources Co.Ltd(000937) Jizhong Energy Resources Co.Ltd(000937) record of investor relations activities
No.: 2022-001
Investor relations activities ■ specific object research □ analyst meeting
Category □ media interview □ performance briefing
□ press conference □ Roadshow
□ site visit
□ others (please specify other activities in words)
Changjiang Securities Company Limited(000783) , Huaxia Fund, Harvest Fund, Boshi fund, Western benefit fund, names of participating units: Great Wall Fund, Taiping fund, fuanda fund, Tianhong fund, Taikang assets, China Merchants Bank financial management, Great Wall wealth, Panjing investment, Novartis assets, juming investment, Guicheng trust and other 23 institutional investors
Time: January 29, 2022
Location teleconference
Receptionist of listed company
Zheng Wenya, chief accountant and Secretary of the board of directors, and Li Ying, certified representative of the company
Member name
1. The company’s provision for asset impairment in the fourth quarter?
A: according to the accounting standards, the company withdraws bad debt reserves according to the years, which is basically the same as that in the same period.
2. What is the coking coal price level of the company in the fourth quarter compared with the third quarter, and what is the level of January this year compared with December last year?
Investor relations activities a: the average selling price of coking coal in the fourth quarter was higher than that in the third quarter; The main content of 2002 introduces that the sales of coking coal in January 2002 increased slightly compared with December last year.
3. What is the current pricing mechanism of the company’s coking coal long-term association price?
A: the company’s coking coal long-term association is divided into steel plant long-term association and coking long-term association. The steel plant long-term association is priced quarterly and adjusted monthly when the price changes greatly; Monthly pricing of coking long-term association.
4. How about the new capacity of the company?
A: the west well project of Xingtai Coal Mine is continuously accelerating, with an annual production capacity of 600000 tons. It is expected to be put into operation in the second half of 2022. The company strives to reach the production when it is put into operation.
5. Coal supply and demand pattern in the first quarter?
A: supply and demand are basically the same. Affected by the Winter Olympic Games and spring holidays, coal production will be limited, but in previous years, due to environmental factors, there will also be production restriction requirements in winter. Therefore, steel mills will increase coal inventory for subsequent production needs, so the coal supply and demand pattern will not change much.
6. What is the progress of 400000 tons of PVC in the company?
A: at present, the company has not put 400000 tons of PVC into production, which is mainly affected by the epidemic. Foreign experts have been unable to come to China for equipment commissioning. After communication with provincial and municipal government departments and approval of the epidemic prevention and control department, it is preliminarily planned to invite foreign experts to China at the end of February. After isolation in accordance with China’s epidemic prevention policy, the equipment commissioning can be carried out.
7. The profitability of 200000 tons of glass fiber phase I project and the progress of phase II project?
A: the first phase of the 200000 ton glass fiber project was ignited in March 2021 and put into operation in May, with a monthly profit of more than 10 million yuan; Phase II project is planned to be ignited in March this year and put into operation in May. Phase II can share the depreciation cost of the common part with phase I, so the profit will be higher than that of phase I. after phase II is put into operation, the company expects the profit to be about 300 million yuan.
8. What are the advantages of 200000 tons of glass fiber and 400000 tons of PVC?
A: the company’s glass fiber production process is advanced, the production line is fully automated, and the labor cost is low; PVC can be produced by calcium carbide method and ethylene method, which has cost advantage.
9. The company recently received a supervision letter from Shenzhen Stock Exchange, which said that the company’s daily connected transactions were rejected at the previous two general meetings of shareholders and were not approved until December 2021. What’s the matter?
A: the company has communicated with the Shenzhen Stock Exchange on the contents of the supervision letter. The company’s proposal on the company’s daily connected transactions in 2021 was approved on June 18, 2021
The general meeting of shareholders held on September 6, 2021 rejected the proposal, but the general meeting of shareholders held on September 6, 2021 considered and adopted the proposal.
The daily connected transactions referred to in the supervision letter are required by the company’s daily business activities and run through the whole production and operation process of the company. Such transactions also occurred from January to November 2021. In the first half of 2021, the company had such transactions, which have been disclosed in detail in the company’s 2021 semi annual report. Since the second half of 2021, affected by changes in market supply and demand, commodity prices have increased significantly, especially coal prices, resulting in a significant increase in the total transaction volume between the company and some related units. According to the preliminary accounting of the company’s financial department, from January to November 2021, the total amount of related party transactions between the company and this part of related units was 8.362 billion yuan, exceeding the expected amount at the beginning of the year. In accordance with relevant regulatory requirements, the Company re estimated the related party transactions exceeding the expected number. The company held the third extraordinary general meeting of shareholders in 2021 on December 30, 2021 to review the proposal on adding daily connected transactions in 2021 and passed it. In view of such situations, the company will strengthen the summary of such financial data, strive to find and report in time, timely perform the review procedures and disclose information in accordance with relevant regulatory requirements, so as to avoid similar situations. 10. From the performance forecast of the company in 2021, the company has good profitability. Will the company consider paying a large proportion of dividends?
A: the better profitability of the company’s performance forecast is due to the rise in the sales price of main products, the continuous high operation of the coal market, the strengthening of operation and management, and the scientific control of costs, resulting in a higher year-on-year increase in enterprise benefits. Since its listing, the company has paid cash dividends to shareholders every year. The cash dividends in recent years account for about 40% of the annual net profit. The specific amount and proportion of dividends in 2021 can only be determined after being deliberated and approved by the board of directors and the general meeting of shareholders.
List (if any) none
Date: January 29, 2022
