Hengding Industrial (01393) announced its 2023 annual results, with revenue of approximately RMB 2,449 billion (RMB, same below)...
According to the Zhitong Finance App, Hengding Industrial (01393) announced annual results for 2023, with revenue of about 2,449 billion yuan (RMB, same below), a year-on-year decrease of 42.8%; loss attributable to company owners was 746 million yuan, while profit of 537 million yuan was achieved in the same period in 2022; loss of 18.74 points per share.
According to reports, during the year, the price of coking coal continued to drop due to sharp market fluctuations. At the same time, the company also reduced production of raw coal and refined coal. As a result, the company's sales volume and average sales price (after VAT) of refined coal have declined this year. The sales volume of refined coal this year was about 1.306 million tons, a year-on-year decrease of about 28.4%. The average selling price of refined coal this year fell from 2244.9 yuan per ton in 2022 to 1690.4 yuan per ton, a decrease of about 24.7%.