Yanzhou Coal Australia's medium-term net profit increased 56%

Yanmei Australia's announcement on August 21 showed that the company's revenue in mid-2019 was about A$2.350 billion, which was basically the same as the same period last year; shareholders should account for about A$564 million in net profit after income tax (excluding recurrent items), an increase of 56% compared with the same period last year; the basic dividend per share was A$42.7, and the interim dividend per share was A$0.1035. Yuan. In the first half of 2019, Yanzhou Coal Shareholders should account for a spillover of A$564 million, which is affected by a number of non-operating projects, according to the announcement. The total net loss before tax deduction affects A$65 million (A$41 million in the first half of 2018), including a fair value loss of A$75 million in the recovery of hedging reserves, a possible royalty revaluation gain of A$4 million and a royalty revaluation gain of A$6 million. In addition, the tax benefit of A$219 million is recognized as the final tax of the joint coal acquisition. The output of raw coal increased by 5% from 32.9 million tons in the first half of 2018 to 34.4 million tons in the first half of 2019, including Morabin, Mount Thorley Warkworth (MTW) and Hunter Valley Operations (HVO), which increased by 5% from 27.4 million tons in the first half of 2018 to 28.8 million tons in the first half of 2019.

Saleable coal output increased by 4% from 25.4 million tons in the first half of 2018 to 26.4 million tons in the first half of 2019, including Morabin, MTW and HVO, which increased by 5% from 21.2 million tons in the first half of 2018 to 22.2 million tons in the first half of 2019.

Moraben's crude coal output increased by 1.1 million tons (11%) and its saleable coal output increased by 700,000 tons (8%). The crude coal output increased by 800,000 tons from the open air and 300,000 tons from the underground. The slight increase in the output of saleable coal is due to a slight decrease in the output of open-pit coal by 2% and in the proportion of 100% underground coal that does not need to be processed. The output of raw coal increased by 600,000 tons (7%) and its saleable coal increased by 100,000 tons (2%). The increase of raw coal output was due to the improvement of equipment utilization rate and productivity. The slight increase in saleable coal production was due to a decline in yields.

HVO's crude coal production decreased by 300,000 tons (3%) while its saleable coal production increased by 200,000 tons (3%). The decrease in crude coal production was due to the shortage of operators in the first quarter. The decrease in raw coal production and the increase in saleable coal production are due to the increased need for no coal processing.

The overall average pit price of the Group's coal decreased by 3% from A$128 per ton in the first half of 2018 to A$124 per ton in the first half of 2019, mainly due to the decline in global U.S. dollar coal prices and the increase in the proportion of sales of power coal (i.e. higher ash products in Morabin), and partly to the average exchange rate of the Australian dollar against the U.S. dollar in the first half of 2018. The reduction of 0.7716 to 0.7061 in the first half of 2019 and the increase of metallurgical coal sales from 15% in the first half of 2018 to 17% in the first half of 2019 offset this. The average price of the Group's power coal dropped from A$117 per ton to A$112 per ton, while the average price of metallurgical coal dropped from A$191 per ton to A$184 per ton.

announcement said that the group's overall average cash operating costs, excluding government royalties, were flat at A$62 per ton. In addition to Zhongshan, the group's saleable coal production increased by 9% from 16.4 million tons in the first half of 2018 to 17.8 million tons in the first half of 2019, while Zhongshan increased by 7% from 17.4 million tons in the first half of 2018 to 18.6 million tons in the first half of 2019, including Morabin, MTW and HVO, which increased by 15 million tons in the first half of 2018. 9% to 16.4 million tons in the first half of 2019. Sellable coal production of power coal increased by 7% from 13.8 million tons in the first half of 2018 to 14.8 million tons in the first half of 2019, while that of metallurgical coal increased by 5% from 3.6 million tons in the first half of 2018 to 3.8 million tons in the first half of 2019. The proportion of power coal in total saleable coal production rose slightly from 79% in the first half of 2018 to 80% in the first half of 2019.