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Public company info - China Qinfa Group Ltd. , 00866.HK
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China Qinfa Group Ltd., 00866.HK - Company Profile
Chairman XU Da
Share Issued (share) 2,493,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Coal
Corporate Profile Business Summary: The principal activities of the Group are coal mining, purchases and sales, filtering, storage, blending of coal in the PRC and shipping transportation. Performance for the year: The Group’s Revenue was RMB2,799.52 million during the year ended 31 December 2019 as compared with gross profit of RMB3,652.869 million during the same period in 2018. The Group’s gross profit was RMB406.6 million during the year ended 31 December 2019 as compared with gross profit of RMB390.7 million during the same period in 2018. Profit attributable to equity shareholders of the Company during the year ended 31 December 2019 was RMB81.4 million, representing a decrease of approximately of RMB1,423.1 million as compared with profit of RMB1,504.5 million in the same period in 2018. Business Review Coal business During the year ended 31 December 2019, the volume of the Group’s coal handling and trading recorded a 25.2% decrease as compared with 2018. The coal selling prices during the year ended 31 December 2019 were in range between RMB221 per tonne and RMB536 per tonne, which were less fluctuated when compared to the range between RMB127 per tonne and RMB597 per tonne in 2018. The Group sells blended coal which is sourced solely from the PRC domestic markets to customers, including power plants, cement plants and coal traders. Most of the Group’s customers are located in the coastal regions of China. Power plants purchase coal for use in the combustion processes to produce steam for power and heat. Cement plants consume coal as primary fuel in their production process. Shipping transportation The segment revenue for shipping transportation from external customers for the year ended 31 December 2019 was RMB78.7 million as compared with RMB170.4 million for the same period in 2018. The Group has recorded 54.0% decrease in shipping transportation revenue principally because of disposal of vessel and decrease in freight rates and charter hire rates during the year. Prospects: It is expected that the supply and demand in coal market will maintain an overall balance in 2020, and coal prices will be basically stable at current levels. Coal production is always a firm foundation for the development of the Group. “Enhanced Safety Management, Increased Production and Cost Reduction” will be three major assessment indicators during this year. Meanwhile, the Group will fully accomplish these indicators set for the year. Looking forward, under the national policy framework of “One Belt, One Road”, the Group keeps deeply in mind that market expansion is critical to the Group’s sustainable development, in addition to continuously consolidating the sound development trend for domestic business, the Group will further expand the overseas business. Meanwhile, the Group will deeply explore the fast-growing coal market in Indonesia to achieve the strategic transformation of the Group. The project in Indonesia will be the Group's development priority in 2020. The team responsible for the coal project should flexibly apply the domestic advanced production technology and the refined management model to the new coal mine project in Indonesia. The Group will exert efforts to introduce and train professional talents to strengthen excellent team-building. Besides, on-the-job training throughout the chain will be provided to all the staff, so as to ensure that the Group's dedicated team responsible for the project in Indonesia can fully grasp the upstream and downstream markets and the process plan. As for the domestic business, strengthened production and distribution management is required to ensure the smooth and stable development of the existing domestic business, so as to improve the economic efficiency for the Group and continuously finance its new business development. The Group will continue to consolidate the Group's favorable development momentum, fully release the Group's competitive capacity, reduce the Group's inefficient capacity, and improve the Group's overall operational performance. Meanwhile, the Group's sales department, coal production plants, coal washing plants and transportation stations are required to proactively and closely cooperate with each other, to reasonably allocate the resources of each coal mine, to improve the market control and competitiveness, to seize market share of thermal coal both at home and abroad and to strengthen pricing power. Apart from controlling production costs through clean-up of warehouses and utilisation of inventories, reducing daily operating expenses is also a major task of this year’s operation. Leaders of various departments should take the lead in establishing cost awareness, and aim to further reduce daily expenses such as transportation, office, travel, business entertainment expenses and low-value consumables to an extent larger than that of last year. The expense index should be subdivided item by item and implemented throughout the departments, and the corresponding cost budget should be prepared. As in the past, coal mine production safety is the top priority of the Group. Adhering to the concept of safety and efficient development, the Group will improve safety management in an all-round way by strengthening the implementation of safety measures. Without exception, each safety code must be firmly followed. In the future, the Group will continue to promote the intelligent construction of coal mines, accelerate the development of high-quality transformation and build China Qinfa into a safe, green and efficient coal enterprise.

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