Yankuang Energy - Stock Analyst Research

Target Price*HKD 16.30
Recommendation ACCUMULATE
Market Cap*104.40
Publication Date20 Dec 2023

*At the time of publication

兗礦能源 (1171.HK) 動力煤市場供需格局或轉緊 佈局海外礦產資源凸顯競爭優勢

兗礦能源 (1171.HK)以礦業、高端化工新材料、新能源、高端裝備製造、智慧物流作
市的特大型能源企業。集團擁有煤炭源地資源量達到 137 億噸(JORC 標準),位居

⼆○⼆三年⼀⾄三季度,集團實現營業收入 1,350.38 億元(⼈⺠幣,下同),同比減少
340.82 億元,減幅為 20.15%;實現歸屬於上市集團股東的淨利潤 155.25 億元,同比
減少 136.57 億元,減幅為 46.80%。基本每股收益為 2.08 元,同比下降 47.83%,主
190.07 億元,同比減少 50.05%,兗礦集團財務有限集團(「兗礦財司」)對外提供
存貸款等金融服務淨額同比增加 110.36 億元,如若剔除兗礦財司對經營活動現金流的
影響後,集團經營活動現金流淨額為 180.28 億元,仍同比減少 300.84 億元,這主要
是由以下兩個原因所致:1)銷售商品、提供勞務收到的現金同比減少 263.19 億元;
2)購買商品、接受勞務支付的現金同比增加 16.50 億元。集團於 2023 年 6 月 30 日
發佈利潤分配政策報告,集團的利潤分配方案將現金分紅比例擬從 50%提升至 60%。
2022 年度,集團派發年度股利及特別股利合計達到 4.3 元/股,此次公告體現出集團

About the author

Margaret Li

本科主修市場行銷和英語,並於香港浸會大學獲得經濟學碩士學位。現為輝立証券持牌分析師,主要負責能源和公用事業等板塊的研究。曾在大型銀行、券商和資產管理公司工作,對於期貨和大宗商品衍生品領域擁有銷售、研究分析和市場推廣等工作經驗。 Margaret, a holder of a Bachelor`s degree in Marketing and English and a Master`s degree in Applied Economics from Hong Kong Baptist University, is currently employed as a licensed analyst at Phillip Securities. She specializes in conducting research focusing on the energy and utilities sectors. Prior to her current position, Margaret gained valuable work experience in a large bank, securities firm, and asset management companies. Her expertise lies in sales, research analysis, and marketing within the fields of futures and commodities derivatives.

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