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Mar.29.2024 1USD=7.0948RMB
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China Shenhua’s Net Profit down 9.4% in 2020

https://en.steelhome.com [SteelHome] 2021-03-30 10:17:21

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On March 27, China Shenhua released its 2020 annual report. During the reporting period, the company achieved operating revenue of 233.263 billion yuan, with a year-on-year decrease of 3.6 percent. The net profit attributable to the shareholders of the company was 39.17 billion yuan, a year-on-year decrease of 9.4 percent.

During the reporting period, the net cash flow from operating activities was 81.289 billion yuan, and the net assets attributable to the shareholders of the company were 360.189 billion yuan by the end of 2020.

During the reporting period, the company achieved an operating revenue of 233.263 billion yuan, with a year-on-year decrease of 3.6 percent.

The main reasons for the decline of business income:

The group’s average coal sales price decreased by 3.8 percent year on year, resulting in a year-on-year decrease in coal sales revenue.

The change of the consolidated scope of the company's financial statements and the year-on-year decrease of electricity sales and average price lead to the year-on-year decrease of electricity sales income. In January 2019, the operating income included the income generated by the power assets invested in the transaction of NCPE, which would no longer be included in the consolidated scope of the company's financial statements since February 2019. Excluding the influence of the preceding factors, the group could be divided into two groups according to the comparable caliber in 2020, the electricity sales decreased by 2.6 percent and the average price of electricity sales decreased by 1.2 percent.


(To contact the reporter on this story: leo.ji@steelhome.cn or 86-555-2238932 18616060095)
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