Jizhong Energy Resources Co., Ltd, reported a 62.73% year-on-year increase in net profit attributable to shareholders in 2022, mainly owning to higher coal sales and selling prices, according to its annual financial report.

The company is a listed subsidiary of the state-run Jizhong Energy Group Co., Ltd, which is the largest coal miner in northern China's Hebei province.

Operating revenue of the company gained 14.68% from previous year to 36.04 billion yuan in 2022. It bagged 29.38 billion yuan in revenue from coal business in 2022, accounting for 81.52% of the total. The company's businesses include coal, chemical, power and building material.

Jizhong Energy excavated 26.37 million tonnes of raw coal in 2022, up 1.94% from preceding year and sold 28.92 million tonnes, rising 3.86%, with average selling price of 411.44 yuan/t, which was up 3.75% year on year.

It produced 12.71 million tonnes of washed coal, climbing 7.31% year on year, and sold 12.51 million tonnes of washed coal, rising 5.37%, with selling price averaged 1,820.05 yuan/t, which was also up 20.45% year on year.

By the end of 2022, Jizhong energy had 19 coal mines with combined coal reserves of 2.93 billion tonnes, and total annual capacity of 32.65 million tonnes. It is expected to add 1.20 million tonnes per annual of capacity in 2023.

Mineable reserves of running mines were 621 million tonnes, dominant by high-quality coking coal, 1/3 coking coal, fat coal, gas fat coal and lean coal.

(Writing by Emma Yang  Editing by Harry Huo)
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