Net profit of coal energy in the first three quarters increased by 150.41%

The third quarter report of 2019 released on the evening of October 28 shows that in the first three quarters of 2019, the operating revenue of cloud coal energy reached 4.236 billion yuan, an increase of 10.67% year-on-year; the net profit attributable to shareholders of listed companies reached 212 million yuan, an increase of 150.41% year-on-year. According to the announcement, the main reason for the increase in profit is that the company improved its operation level and kept its profitability growing during the reporting period. From January to September this year, cloud coal energy vigorously promoted the work of improving quality and reducing cost, set up the goal of reducing cost, improving quality and increasing efficiency, strictly control the process, comprehensively improve the quality of coke, strengthen the management of raw material procurement and reduce the procurement cost, which became the main reason for the company's performance recovery. It is worth mentioning that in terms of product sales channels, as an independent coking enterprise, Yunmei energy has established a long-term and stable strategic cooperation relationship with Kunming Iron and Steel Co., Ltd. of WISCO, which is conducive to ensuring the sales of coke products. Compared with other independent coking enterprises in the same industry, Yunmei energy has a certain ability to resist market risks. Coal energy is mainly engaged in the production and sales of coke and related chemical products. The leading product is metallurgical coke, and the by-products are gas, crude benzene, tar, methanol, Ammonium sulfate, Sulfur, etc. The coke is mainly used in blast furnace ironmaking, which is the important raw material next to iron ore in iron and steel industry. According to the production and operation data disclosed by cloud coal energy, in the first three quarters of 2019, the coke sales revenue reached 3.170 billion yuan, accounting for 74.83% of the total operating revenue, which is the main source of its revenue. With the promotion of capacity reduction in coking industry, the net profit of cloud coal energy is also continuing to improve. In 2018, the company achieved a net profit attributable to the parent of 192 million yuan, a significant year-on-year turnaround, the company's highest level in the past five years. In 2019, the boom continued. In the first half of the year, the company realized a net profit attributable to the parent of 102 million yuan, a year-on-year increase of 2478.40%.