Summary by Moomoo AI
China Shenhua Energy Co., Ltd. (“China Shenhua”) has issued its 2023 results forecast that the profit attributable to its owners in 2023 will reach RMB627 billion to RMB657 billion, down 9.9% to 14.0% from RMB729.03 billion in 2022. The change in results was mainly driven by profit growth in the power division and the increase in the loss of the joint venture, as well as the decrease in coal sales prices, increased costs in the rail division, increased other expenses and increased income taxes. In addition, the company made changes to its accounting policy on deferred income tax pursuant to International Accounting Standard Amendment No. 12 and disclosed the relevant inside information on April 28, 2023. The members of the Board of Directors include Mr. Lu Zhiwei, the Executive Director, and Mr. Xu Ming-jun, the Non-Executive Director. Investors should be aware of investment risks as reported financial data has not been audited or reviewed by accountants.