Shanxi Lu'an Environmental Energy Development (601699) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 was ¥17.65 billion, down 19.33% year-over-year due to lower coal prices and sales volume.

• Net profit attributable to shareholders was ¥2.23 billion, a 57.96% decrease compared to H1 2023.

• No interim dividend or capital increase from reserves was proposed for the period.

• The company maintained strong cash reserves and continued to invest in environmental and safety projects.

Financial highlights

• Operating income: ¥17.65 billion, down 19.33% year-over-year.

• Net profit: ¥2.23 billion, down 57.96% year-over-year.

• Basic and diluted EPS: ¥0.74, down 58.19% year-over-year.

• Net cash from operating activities: ¥2.85 billion, down 7.52% year-over-year.

• Total assets at period end: ¥81.18 billion, down 6.44% from year-end 2023.

Outlook and guidance

• Domestic coal demand expected to remain stable in H2 2024, with prices likely to fluctuate within a range.

• The company will focus on cost optimization, safety, and sustainable development amid ongoing industry reforms.