Summary by Moomoo AI
China Coal Energy conducted a continuous risk assessment of its subsidiary China Coal Finance Limited in 2023 and published a related report. The report covers the fundamentals, internal controls, operational management and risk management of China Coal Finance Corporation. Since its establishment in 2014, China Coal Finance Corporation's business includes financial services such as deposits, loans, notes and other financial services. In 2023, the company achieved sales revenue of $24.42 million and a net profit of $9.72 million, and was named the Best Money Management Finance Company of the Year. The report shows that the risk management and internal controls of SMCB were effectively implemented and no significant risk events occurred. The Independent Non-Executive Director reviewed the Company's motion to increase registered capital and provided specific explanations on related transactions, confirming that the transaction was in line with the Company's operational development needs and safeguarded the interests of shareholders. The report was issued on March 20, 2024 by Executive Director Wang Shudong in Beijing.