Shanxi Coking Coal Energy Group Co., Ltd reported its net profit attributable to shareholders rose 110.17% from a year ago to 10.72 billion yuan ($1.55 billion) in 2022, the company said in its financial report on April 24.
The operating revenue increased by 20.33% year on year to 65.18 billion yuan in 2022, according to the report.
In 2022, the company produced 43.85 million tonnes of raw coal, down 1.46% year on year. Washed coking coal production was 18.33 million tonnes, down 7.05% year on year. Coke production was 4.10 million tonnes, down 1.20% year on year.
Commercial coal sales declined 11.18% year on year to 32.17 million tonnes. Of that, raw coal production was down 51.64% year on year to 1.03 million tonnes, and washed coking coal sales were down 2.92% to 7.32 million tonnes.
Raw coal average selling price stood at 755.40 yuan/t in 2022, up 29.07% from the preceding year. Washed coking coal price averaged 1,814.93 yuan/t, up 38.11% year on year. Washed fat coal price and washed lean coal price were respectively 1,948.46 yuan/t and 1,562.93 yuan/t in 2022, rising 31.73% and 42.46% respectively from the preceding year.
The company targets to produce 42.05 million tonnes of raw coal and 18.50 million tonnes of washed coking coal. It also targets to produce 3.70 million tonnes of coke and generate 19.6 TWh of electricity in the year.
The company is expected to achieve a net profit of 2.47 billion yuan in the first quarter of 2023, with a year-on-year decline of 11.1%, it said in a separate quarterly report released on the same day.
(Writing by Emma Yang Editing by Harry Huo)
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