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Public company info - Southern Energy Holdings Group Limited , 01573.HK

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Southern Energy Holdings Group Limited, 01573.HK - Company Profile
Chairman Xu Bo
Share Issued (share) 718,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Coal
Corporate Profile Business Summary: The principal activity of the Group is the extraction and sale of anthracite coal in the PRC. Performance for the year: During the Reporting Period, the Group recorded a revenue of approximately RMB641.2 million, representing a decrease of RMB1.2 million, or a drop of approximately 0.2%, from approximately RMB642.4 million for the year ended 31 December 2017. During the Reporting Period, profit and total comprehensive income for the year was approximately RMB206.3 million, representing a decrease of RMB23.8 million, or a drop of approximately 10.3%, from approximately RMB230.1 million for the year ended 31 December 2017. Business Review In 2018, China’s macro economy maintained a medium to high speed growth. According to data from the National Bureau of Statistics of China, GDP in 2018 increased by 6.6% compare with that of the previous year. In terms of quarter, the growth rate of 16 consecutive quarters was in the range of 6.4%-7.0%, and the stability and resilience of economic operation were significantly enhanced. With 6.6% of the economic growth rate, China ranks first among the top five economies in the world, contributing approximately 30% to the world economic growth rate, and remains an important driving force of the global economic growth. In 2018, the total economic output also increased significantly with GPD exceeded RMB90 trillion for the first time, reaching RMB90.0309 trillion, representing an increase of RMB10 trillion as compared to that in 2017. In terms of industry, the added value of the primary industry was RMB6,473.4 billion, representing an increase of 3.5%; the added value of the secondary industry was RMB36,600.1 billion, representing an increase of 5.8%; the added value of the tertiary industry was RMB46,957.5 billion, representing an increase of 7.6%. In 2018, supply-side structural reform in the energy industry was further advanced by the Chinese government. The coal industry entered in a stable state as a whole. The capacity utilization rate, raw coal production capacity, total coal imports and the elimination of backward production capacity were all improved. According to data from the National Bureau of Statistics of China and the General Administration of Customs, the capacity utilization rate of coal mining and washing industry was 70.6% in 2018, representing an increase of 2.4 percentage points as compared to that of last year. The annual output of raw coal in 2018 was 355 million tons, representing an increase of 5.2% as compared to that in 2017. In 2018, the import of raw coal was 280 million tons, representing an increase of 3.9% as compared to that last year. Further, more than 150 million tons of backward production capacity has been withdrawn nationwide in 2018, while 74 coal mines were withdrawn in Guizhou Province with a capacity of 10.38 million tons per year, overachieving the de-capacity target. The continuous deepening reform of the coal industry has optimized the overall supply and demand relationship of the industry on an ongoing basis. The movement of coal products price during the year has been stabilized compared with last year. The downstream of coal industry has also been significantly optimized for its structure. According to data from the National Bureau of Statistics of China, backward production capacity of more than 30 million tons have been eliminated in the steel industry with 1,105.517 million tons of steel production during the year, representing an increase of 5.6% as compared with 2017. The sales of raw coal of the Company increased despite impacted by the policy and the Company maintained a relatively stable performance. As of 31 December 2018, the Group produced coal products in a total of 1,073,000 tons, in which, 90,000 tons of big lump coal, 85,000 tons of medium lump coal, 227,000 tons of clean coal, 165,000 tons of fine coal and 506,000 tons of raw coal. The revenue amounted to RMB641.2 million, gross profit amounted to RMB336.8 million and the profit attributable to owners of the Company amounted to RMB206.3 million. In regard to the three coal mines of the Group, namely the Weishe Coal Mine, Luozhou Coal Mine and Lasu Coal Mine, sales volume was increased under the influence from governmental policies, resulting in an increase of production capacity of the Group as compared to 2017. However, due to the increase in the sales proportion of raw coal, a corresponding drop in revenue was recorded. Due to the increase in sales cost in the year and the decrease in average selling price of thermal coal as a result of the proportional increase in thermal coal sales due to changes in policies, the Group recorded decrease in consolidated net profit during the Reporting Period as compared with the audited consolidated net profit for the year ended 31 December 2017. Prospects: As abovementioned, the continual macro-economic growth in China, along with the continuous deepening reform within the coal industry as well as its downstream industry by the PRC government, have resulted in the steady development in the overall coal industry for a longer period of time. Under such a favorable macro economy and political circumstance, it enables the Company resulted in the relatively steady results performance.

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