China Energy Announced Its 2018 Annual Results 29 Apr 2019


China Energy announced its performance in 2018: the company achieved revenue of 264.1 billion RMB and net profit of 43.9 billion RMB. In the company's revenue composition, coal business is still the most important revenue, reaching 205.191 billion RMB, accounting for 77% of the total revenue.


In 2018, the proportion of coal in China's energy consumption was less than 60% for the first time, but it still ranked first among all kinds of energy sources with 58%. In other words, coal is still the most important resource in China's energy consumption.


Dingchao He, deputy director of the research center of the State Administration of Work Safety , said: "Overall, we should have the following understanding: the current regulation mechanism of coal production capacity still needs to be improved, the contradiction between reverse distribution of coal production and consumption is more prominent, the industrial structure of coal needs to be further adjusted, and the level of green development and utilization of coal needs to be improved."


Statistics show that in 2017, the coal output of the four new provinces (regions) of Shanxi, Shaanxi and Inner Mongolia accounted for 72% of the country, while the coal consumption of Beijing, Tianjin, Hebei, Northeast, East China and Central and South China accounted for 61% of the country; in the same year, there were six enterprises with a total coal output of over 100 million tons, accounting for only 34.7% of the country's total output, and there were 3209 coal mines with a capacity of only 500 million tons in the country with a total output of less than 300,000 tons. The contradiction between the reverse distribution of production and consumption and the relative backwardness of industrial structure can be seen.