On March 28, the coal sector grew against the market. According to the data, as of the close of the day, the coal mining and processing sector rose by 1.84%, with 28 stocks such as China Shenhua Energy Company Limited(601088) , Yankuang energy and Pingdingshan Tianan Coal Mining Co.Ltd(601666) . Among them, China Shenhua Energy Company Limited(601088) opened higher, up 7.51% on the same day, with a turnover of 2.194 billion yuan, closing at 29.22 yuan / share, with a total market value of 580.6 billion yuan.
“The trend of the coal sector is related to China Shenhua Energy Company Limited(601088) performance and dividend scheme. China Shenhua Energy Company Limited(601088) the high proportion of dividend has played an exemplary role in the whole industry. At present, the coal industry also has a certain prosperity.” The energy industry analyst of a securities firm told the reporter of Securities Daily.
high proportion dividend for two consecutive years
According to the annual report, China Shenhua Energy Company Limited(601088) 2021 achieved an operating revenue of 335216 billion yuan, a year-on-year increase of 43.7%; The net profit attributable to shareholders of listed companies was 50.269 billion yuan, a year-on-year increase of 28.3%. The company plans to distribute cash dividends of about 50.466 billion yuan (including tax), accounting for 100.4% of the net profit attributable to the company’s shareholders under the Chinese accounting standards for business enterprises in 2021.
According to the profit distribution plan of China Shenhua Energy Company Limited(601088) 2021, according to 19868519955 shares of the company’s total share capital as of December 31, 2021, the cash dividend to be distributed is about 50.466 billion yuan (tax included), and the cash dividend per share is 2.54 yuan (tax included), accounting for 100.4% of the net profit attributable to the company’s shareholders under the Chinese accounting standards for business enterprises in 2021 and 97.8% of the profit attributable to the company’s owners under the international financial reporting standards.
In fact, this year has been the second consecutive year of China Shenhua Energy Company Limited(601088) for which the dividend proportion has reached 100% of the net profit. According to the data, China Shenhua Energy Company Limited(601088) since its listing, has paid dividends for 15 times, with a total amount of 270063 billion yuan, including 223948 billion yuan for A-Shares and 46.115 billion yuan for Hong Kong shares.
“In recent years, the company’s profits have been relatively stable and the return of cash flow has been good. On the basis of 100% dividends last year, the company has made dividends of the same scale this year. The company’s management also made this dividend decision after comprehensively considering the company’s capital expenditure, working capital needs and the feedback information from investors, especially long-term investors.” China Shenhua Energy Company Limited(601088) in response to a reporter’s question from Securities Daily, the relevant person said.
” China Shenhua Energy Company Limited(601088) the high proportion of dividends shows the company’s confidence in coal sales this year. At present, the price of natural gas is rising and the supply is insufficient, and the substitution effect will increase the global demand for coal.” Insiders told the reporter of Securities Daily.
coal sector value is expected to reshape
In 2021, China’s coal demand increased more than expected, the supply in some regions of China’s coal market was tight in some periods, and the price fluctuated sharply. By the end of 2021, the price index of Bohai Rim thermal coal (5500 kcal) was 737 yuan / ton, an increase of 152 yuan / ton compared with the end of the previous year; The annual average price of the index was 673 yuan / ton, up 124 yuan / ton year-on-year, an increase of 18.4%.
Affected by this, the performance of coal enterprises has also ushered in a substantial growth. According to the data, the performance of 25 coal mining enterprises increased in 2021 Beijing Haohua Energy Resource Co.Ltd(601101) previously released performance forecast shows that the annual net profit attributable to the parent company in 2021 is expected to be 1.91 billion yuan to 2.06 billion yuan, with a year-on-year increase of 3887.6% to 420081%. The company believes that the main reason for the sharp increase in performance is the good prosperity of the coal industry, which is affected by the sharp rise in coal prices and the increase in sales.
In addition, China Coal Energy Company Limited(601898) 2021 annual report shows that the company achieved operating revenue of 231127 billion yuan in 2021, an increase of 64.0% year-on-year; The net profit attributable to shareholders of listed companies was 13.282 billion yuan, with a year-on-year increase of 124.8%, and the operating performance hit the best level in history 6 Yes Optoelectronics (Group) Co.Ltd(002952) 021 performance express shows that the company achieved a total operating revenue of 36.41 billion yuan in 2021, an increase of 57.34% over the same period of the previous year; The net profit was 6.108 billion yuan, an increase of 299.73% over the same period last year.
It is worth mentioning that, in order to guide the coal price to return to a reasonable range, at the beginning of this month, the national development and Reform Commission issued the notice on further improving the price formation mechanism of the coal market, which defined the reasonable range of coal price. The medium and long-term transaction tax price of 5500kcal of underground coal in Qinhuangdao port is between 570 yuan and 770 yuan per ton. Within the reasonable range, the coal and electricity price can be effectively transmitted.
A coal enterprise told reporters that the price range defined by the national development and Reform Commission is quite different from the price of spot coal, but the price of Changxie coal in the same period last year is still higher, so the enterprise still has profit guarantee. The price of Changxie coal is not expected to change much this year, and the spot market depends on supply and demand. At present, the state still has strict control over the coal market. Once speculation is involved, there will be supervision to curb it.
China Shenhua Energy Company Limited(601088) relevant people told the reporter of Securities Daily that the main energy orientation of coal will not change for some time in the future. In the process of realizing the goal of “carbon peak and carbon neutralization” in the future, coal will also have a place in the whole energy structure and play an important supporting role.
