Summary by Futu AI
China Coal Energy released its first quarter report for 2024 on 24 April 2024, showing a decline in both its operating income and net profit. During the reporting period, Chinese coal energy revenue was RMB453.95 billion, down 23.3% year-on-year; net profit attributable to shareholders of listed companies was RMB 49.7 billion, down 30.5%. Net cash flow generated by operating activities also decreased significantly by 69.3%. Basic earnings per share and diluted earnings per share were $0.37, down 31.5% from the same period last year. The report pointed out that the decline in coal sales prices and lower investment income from ginseng companies were the main reasons for the decline in profits. In addition, at the end of the reporting period, the total assets of China Coal Energy increased by 0.7% compared to the end of the previous year, and the shareholders' equity attributable to the shareholders of the listed companies increased by 3.9%.