Overview of results for the first three quarters of 2009. The company achieved operating income of 38 million yuan from January to September 2009, an increase of 44% over the previous year; operating profit was 0.08 billion yuan, an increase of 10% over the previous year; net profit attributable to the parent company was 50 million yuan, a decrease of 65% over the previous year; and achieved earnings of 0.1666 yuan per share. Among them, it achieved operating income of 102 million yuan in the third quarter, an increase of 112% over the previous year, net profit attributable to the parent company was 101 million yuan, and earnings per share in the third quarter were 0.0038 yuan.
Analysis of the three-quarter report. The company's operating income increased sharply over the same period last year, mainly due to major asset restructuring, cancellation of guarantees for Huaxia Bank and China CITIC Bank, and the expected return of debt, leading to a sharp increase in non-operating income. The company's monetary capital was 0.05 million yuan, an increase of 1791.31% over the beginning of the year. This was mainly due to the increase in sales revenue of the subsidiary Huayang Coal Industry, while the 19692.9% increase in construction projects was due to an increase in the number of projects under construction by the subsidiary Huayang Coal Industry. Management expenses were 100 million yuan, an increase of 30% over the previous year, mainly due to new business development, which led to an increase in management expenses.
Overview of the company's fundamentals: Currently, the company's main business is coal mining, and the transformation work was completed in 2008. Currently, there are still problems with insufficient resource reserves and limited production capacity.
Analysis of the future development of the company. The company is further advancing the asset restructuring process. It plans to purchase shares of large shares of Dongxining Guoxin and mining enterprises held by natural person Zhang Lin by issuing shares. After the restructuring is completed, the company's resource reserves will be further strengthened and production capacity will be further expanded. The restructuring plan is still pending approval by the Securities Regulatory Commission. Due to the return of large amounts of debt, the company determined profit in 2009.
Risk warning: Uncertainties in major asset restructuring.
