On April 23, Anyuan Coal Industry Group Co.Ltd(600397) released the annual report of the company in 2021, realizing an operating revenue of 9.384 billion yuan, a year-on-year increase of 23.42%; The net profit attributable to the shareholders of the listed company was 551472 million yuan, turning losses into profits year-on-year. Other major operating indicators of the company also increased significantly, and the net cash flow from operating activities was 198 million yuan, a year-on-year increase of 99%.
The reasons for the good performance of the company are attributed to the following: first, the coal market demand is strong, the coal price rises, and the gross profit of commercial coal increases year-on-year; Second, accelerate the pace of transformation and upgrading, and increase the gross profit of logistics trade and terminal transshipment; Third, Baiyuan coal mine closed down its production capacity and withdrew from a year-on-year deficit reduction; Fourth, the company has continuously improved its innovation ability, increased investment in scientific research, and increased R & D expenses year-on-year.
proposed from a single coal energy supplier
gradually transform to energy service provider
Anyuan Coal Industry Group Co.Ltd(600397) mainly engaged in coal mining and operation, coal and material circulation business. The annual report shows that the company’s self-produced commercial coal achieved an income of 1.394 billion yuan last year, a year-on-year increase of 28.73%; The trade business income was 7.425 billion yuan, a year-on-year increase of 25.19%.
By vigorously developing coal logistics trade, Anyuan Coal Industry Group Co.Ltd(600397) completed 4.806 million tons of coal and coke trade and 6.402 million tons of wharf transfer, a record high. The company said that by developing coal logistics trade, optimizing coal trade structure, giving full play to the advantages of road, port and shipping integration, actively expanding coal sources and customers, and striving to promote overseas coal mine M & A and custody services, it will create conditions for further optimizing industrial layout and transformation and development.
The company plans to gradually transform from a single coal energy enterprise to an energy service enterprise through five major changes based on diversified businesses and asset driven as the core, through the development platform of coal mining, beneficiation and logistics trade industry.
Wu Qi, executive director of Wuxi Digital Economy Research Institute, told the Securities Daily that Anyuan Coal Industry Group Co.Ltd(600397) from a single coal energy enterprise to an energy service enterprise, first, under the normal prevention and control of the epidemic, comply with the trend of industry transformation, strengthen the ability of capital operation, scientific and technological innovation and profit management, and realize the internal requirements of getting rid of difficulties and improving competitiveness; Second, under the policy background of ensuring the supply and price of energy, optimizing the product and business structure, further tapping the potential internally and expanding the external industrial chain, and improving the ability of resource integration and operating efficiency; Third, in the context of the “double carbon” goal, the only way to reduce energy consumption and carbon emissions of enterprises and achieve green and low-carbon development.
coal price high operation
supply and demand are still tight this year
In 2021, affected by the imbalance between international energy supply and demand, the steady growth of China’s economy, the rapid growth of electricity demand, the increase of natural disasters and other factors, the supply and demand of the coal market continued to be tight, and the coal price fluctuated at a high level.
According to the data of the National Bureau of statistics, the national coal consumption increased by 4.6% year-on-year in 2021. From the analysis of major coal consuming industries, the national thermal power generation increased by 8.9% year-on-year, becoming the main driving force driving the growth of coal consumption; Coal demand in steel and building materials industry declined; The demand for raw coal in the chemical industry has maintained growth. The annual average selling price of commercial coal was 981.71 yuan / ton, a year-on-year increase of 283.44 yuan / ton, or 40.6%. Among them, the selling price of washed coal was 162909 yuan / ton, a year-on-year increase of 507.07 yuan / ton, or 45.2%; The price of thermal coal was 588.93 yuan / ton, a year-on-year increase of 211.96 yuan / ton, or 56.2%.
High coal prices have a great impact on coal enterprises According to the Anyuan Coal Industry Group Co.Ltd(600397) annual report, affected by the rise in the average selling price of commercial coal, the company’s revenue increased by 402 million yuan. However, due to the decrease of 130800 tons of commercial coal, the revenue decreased by 913289 million yuan. In terms of trade business, the decrease in the trade volume of coal and coke resulted in a decrease in revenue of 1.175 billion yuan, but the increase in revenue of 2.777 billion yuan was due to the increase in the price of coal and coke trade volume.
Wu Qi said that in 2022, driven by the national policy of ensuring supply and stabilizing price, the medium and long-term contract of power coal will implement a new long-term pricing mechanism. As the coal demand enters the traditional off-season, the coal price is expected to return to a reasonable range. However, due to the shortage of imported coal, demand growth and other factors, seasonal and regional supply and demand imbalance will still exist.
Bai Wenxi, chief economist of IPG China, also believes that the prosperity of the coal industry will run at a high level in 2021, and most of the annual reports of coal enterprises have overdue performance. It is expected that due to the high international energy prices and supply chain reconstruction caused by geopolitical conflicts this year, the coal market will remain at a high level, which is still good for many coal enterprises on the whole.
According to the prediction of the agency, on the whole, the thermal coal market in 2022 will show a seasonal wave dynamic trend, and on the whole, it will rise with the peak summer and peak winter. At the beginning of the year, the low point of the whole year will appear as the off-season of the Spring Festival approaches. The trend of the whole year in 2022 will be relatively controllable, and the overall fluctuation range is between 5001000 yuan / ton.
