Earnings release
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1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. ʮ̡ (A joint stock company incorporated in the People ’s Republic of China with limited liability) (Stock Code: 01898) THIRD QUARTERLY REPORT 2025 Pursuant to the regulations and rules of China Securities Regulatory Commission and Shanghai Stock Exchange ( “SSE”), China Coal Energy Company Limited (the “Company ” or “China Coal Energy ”, together with its subsidiaries, collectively the “Group”) is required to publish reports on a quarterly basis. This announcement is made pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. This announcement is a summary of the 2025 third quarterly financial report of the Company for the nine months ended 30 September 2025. The full text of the quarterly financial report will be available on the website of The Stock Exchange of Hong Kong Limited (the “HKSE”) on 27 October 2025. The full text of the quarterly financial report is in Chinese only. IMPORTANT NOTICE: The board of directors of the Company together with the directors and the senior management thereof guarantee that the content of this quarterly report is true, accurate and complete and does not contain any false representations, misleading statements or material omissions, and severally and jointly accept legal responsibility for the content of this report. The person-in-charge of the Company, the person-in-charge of accounting affairs and the person responsible for the accounting department (head of the accounting department) guarantee that the financial information set out in this quarterly report is true, accurate and complete. Whether the third quarterly financial statements are audited or not ½ Yes √ No
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2 I. MAJOR FINANCIAL DATA (I) Major accounting data and financial indicators Unit: RMB ’000 Items The reporting period Increase/decrease in the reporting period as compared to the corresponding period of the previous year (%) From the beginning of the year to the end of the reporting period Increase/decrease from the beginning of the year to the end of the reporting period as compared to the corresponding period of the previous year (%) Operational revenue 36,148,319 -23.8 110,584,315 -21.2 Total profit 6,969,098 -10.7 18,908,012 -22.9 Net profit attributable to shareholders of the listed company 4,779,929 -1.0 12,484,630 -14.6 Net profit attributable to shareholders of the listed company net of non-recurring gains or losses 4,736,074 -0.7 12,389,323 -14.1 Net cash flows generated from operating activities N/A N/A 21,110,314 -18.0 Basic earnings per share (RMB per share) 0.36 -0.0 0.94 -14.5 Diluted earnings per share (RMB per share) 0.36 -0.0 0.94 -14.5 Weighted average return on net assets (%) 3.05 Decreased by 0.20 percentage point 8.07 Decreased by 1.88 percentage points As at the end of the reporting period As at the end of the previous year Increase/decrease as at the end of the reporting period as compared to the end of the previous year (%) Total assets 366,801,669 357,964,555 2.5 Owners ’ equity attributable to shareholders of the listed company 157,364,810 151,911,215 3.6 Note: The “reporting period ” refers to the three-month period from the beginning of the quarter to the end of the quarter, same below.
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3 (II) Items of non-recurring gains or losses and relevant amounts √ Applicable ½ Not applicable Unit: RMB ’000 Items of non-recurring gains or losses Amount for the reporting period Amount from the beginning of the year to the end of the reporting period Explanations Profit or loss on disposal of non-current assets, including the write-off portion of provision for assets impairment 31,056 26,050 – Government grants included in profit or loss for the current period, excluding those closely related to the Company ’s ordinary business and granted on determined standards and having a sustained impact on the Company ’s profit and loss according to certain principles under national policies 35,552 101,632 – Capital occupation fee received from non-financial entities included in profit or loss for the current period 5,989 17,773 – Gains or losses from external entrusted loans 29 113 – Other non-operating income and expenses apart from the foregoing -18,625 -22,295 – Less: Effect of income tax 22,681 36,377 – Impact on minority shareholders ’ interests (after tax) -12,535 -8,411 – Total 43,855 95,307 – Explanation shall be provided for the Company ’s determination of the items which are not defined in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public – Extraordinary Profit and Loss as non-recurring profit or loss items which are significant in amounts and the determination of the non-recurring profit or loss items defined in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public – Extraordinary Profit and Loss as recurring items. ½ Applicable √ Not applicable
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4 (III) Major production and operational data Currency: RMB Items Unit January to September 2025 January to September 2024 Percentage change % I. Coal operations (I) Production volume of commercial coal 10,000 tonnes 10,158 10,231 -0.7 Of which: Thermal coal 10,000 tonnes 9,458 9,375 0.9 Coking coal 10,000 tonnes 700 856 -18.2 (II) Sales volume of commercial coal 10,000 tonnes 19,036 20,551 -7.4 Of which: Self-produced commercial coal 10,000 tonnes 10,145 10,038 1.1 Proprietary coal trading 10,000 tonnes 8,785 10,114 -13.1 Import and export and domestic agency 10,000 tonnes 106 399 -73.4 II. Coal chemical operations (I) Polyolefin 1. Production volume 10,000 tonnes 99.0 114.4 -13.5 2. Sales volume 10,000 tonnes 98.4 113.5 -13.3 (II) Urea 1. Production volume 10,000 tonnes 159.4 131.2 21.5 2. Sales volume 10,000 tonnes 180.5 151.0 19.5 (III) Methanol 1. Production volume 10,000 tonnes 147.8 121.3 21.8 2. Sales volume 10,000 tonnes 149.5 120.6 24.0 (IV) Ammonium nitrate 1. Production volume 10,000 tonnes 41.9 42.3 -0.9 2. Sales volume 10,000 tonnes 42.2 42.2 0.0 III. Coal mining equipment operations Output value of coal mining equipment RMB100 million 72.1 77.2 -6.6
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5 (IV) Major differences arising from the adoption of different accounting standards in preparing the financial statements Unit: RMB ’000 Net profit attributable to shareholders of the listed company Net assets attributable to shareholders of the listed company January to September 2025 January to September 2024 30 September 2025 31 December 2024 According to PRC GAAP 12,484,630 14,614,069 157,364,810 151,911,215 Items and amounts adjusted according to IAS: (a) Adjustment to special funds and deferred tax of the coal industry -1,305,578 1,014,587 -34,543 -41,239 (b) Adjustment to floating of non- tradable shares under equity split – – -155,259 -155,259 (c) Adjustment to government grants 1,464 2,783 -5,956 -7,420 According to IAS 11,180,516 15,631,439 157,169,052 151,707,297 Explanations on major reconciliations are as follows: (a) Adjustment to special reserves and relevant deferred tax: special reserves comprise maintenance fee, safety fund, coal mine transformation fund and sustainable development reserve. Under PRC GAAP, the Company should make provisions for the special reserves which will be accounted as the production cost and contributions made to the special reserves of equity attributable to shareholders. Non-capital expenditure incurred should be directly offset against special reserves upon incurrence, while capital expenditure incurred should be recorded as fixed assets upon completion, and offset against special reserves based on the cost of the fixed assets with accumulated depreciation fully recognised. After that, no subsequent provisions for depreciation would be made to the relevant fixed assets. Under IFRS, provisions made for the special reserves should be recorded as retained earnings provision while the relevant expenditures are recognised upon incurrence and the special reserves are accordingly transferred to retained earnings. (b) Under PRC GAAP, the consideration paid by holders of non-tradable shares to holders of tradable shares in accordance with the reform proposal of equity split should be recorded as long-term equity investments in the balance sheet. Under IFRS, such consideration shall be recorded as interests of minority shareholders directly deducted from the equity attributable to shareholders. (c) Under PRC GAAP, subsidies considered as capital investment by the government should be recorded in “capital reserve ”. Under IFRS, the subsidies mentioned above shall be treated as government grants.
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6 (V) Changes of the major accounting data and financial indicators and the reasons thereof ½ Applicable √ Not applicable (VI) Changes in accounting items and analysis of operational status of major business sectors 1. Analysis of Accounting Items with Notable Changes Unit: RMB ’000 Items As at 30 September 2025/ January to September 2025 As at 31 December 2024/ January to September 2024 Percentage change (%) Major reasons Receivables financing 1,557,428 2,972,380 -47.6 Mainly attributable to the decrease in bank acceptance notes received from the Company ’s sales of goods. Prepayments 3,033,273 2,314,008 31.1 Mainly attributable to the increase in the Company ’s prepayment for railway transportation fees, electricity charges and the purchases of materials to ensure safe production and sales during the National Day holiday. Contract assets 3,572,659 2,389,502 49.5 Mainly attributable to the increase in the Company ’ s rights to consideration arising from its sales of coal mining machinery products. Such rights will be exercised upon completion of the relevant ancillary services agreed in the contract. Other current assets 3,817,321 2,599,514 46.8 Mainly attributable to the reclassification of the loans due within one year provided by China Coal Finance Co., Ltd. to members other than China Coal Energy to this item. Short-term borrowings 1,851,600 1,062,460 74.3 Mainly attributable to the arrangement of initial loans for certain projects based on the construction need of key projects.
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7 Items As at 30 September 2025/ January to September 2025 As at 31 December 2024/ January to September 2024 Percentage change (%) Major reasons Notes payables 2,389,280 3,440,527 -30.6 Mainly attributable to the payment of notes payables issued by the subsidiaries upon their maturity. Non-current liabilities due within one year 24,823,051 16,540,483 50.1 Mainly attributable to the reclassification of long-term borrowings and bonds payables due within one year to this item. Bonds payables 7,293,230 5,494,153 32.7 Mainly attributable to the issuance of RMB4.8 billion in technology innovation bonds during this period and the reclassification of bonds payables due within one year to “Non-current liabilities due within one year ”. Net cash flow generated from investing activities -23,608,454 -3,843,575 514.2 Mainly attributable to the year-on- year increase in cash outflows generated by cash used for capital expenditure, loans provided by China Coal Finance Co., Ltd. to members other than China Coal Energy, and an increase in time deposits with an initial term exceeding three months. Net cash flow generated from financing activities -2,202,430 -18,466,919 -88.1 Mainly attributable to a year-on-year increase in net debt financing and a year-on-year decrease in cash paid for dividend distributions.
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8 2. Revenue, cost and gross profit of coal operations From January to September 2025, the Company ’s coal operations achieved sales revenue of RMB89.333 billion, representing a decrease of RMB28.521 billion or 24.2% as compared with RMB117.854 billion for the same period of last year. Among them: the sales revenue of self-produced commercial coal was RMB48.127 billion, representing a decrease of RMB9.182 billion or 16.0% as compared with RMB57.309 billion for the same period of last year, mainly because the sales price of self-produced commercial coal decreased by RMB97/tonne year on year, decreasing revenue by RMB9.797 billion, and the sales volume increased by 1.07 million tonnes year on year, increasing revenue by RMB615 million; and the sales revenue of proprietary coal trading was RMB41.182 billion, representing a decrease of RMB19.321 billion or 31.9% as compared with RMB60.503 billion for the same period of last year, mainly because the sales price of proprietary coal trading decreased by RMB129/tonne year on year, decreasing revenue by RMB11.373 billion, and the sales volume decreased by 13.29 million tonnes year on year, decreasing revenue by RMB7,948 million. From January to September 2025, the cost of sales of coal operations was RMB66.813 billion, representing a decrease of RMB21.788 billion or 24.6%, as compared to RMB88.601 billion for the same period of last year. Among them: the cost of sales of self-produced commercial coal decreased by RMB2.627 billion year on year, which was due to the combined effects of the year-on-year decrease of the unit cost of sales of self-produced commercial coal of RMB28.93/ tonne and the year-on-year increase of sales volume of 1.07 million tonnes; and the cost of sales of proprietary coal trading decreased by RMB19.161 billion year on year, which was due to the year-on-year decrease of the unit cost of sales of proprietary coal trading of RMB129/tonne and the year-on-year decrease of the sales volume of 13.29 million tonnes. From January to September 2025, the coal operations achieved a gross profit of RMB22.520 billion, representing a decrease of RMB6.733 billion or 23.0%, as compared with RMB29.253 billion for the same period of last year.
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9 3. Coal sales volume and selling prices before netting of inter-segmental sales and the year-on-year changes Currency: RMB Items January to September 2025 January to September 2024 Year-on-year Increase/decrease in amount Increase/decrease in percentage Sales volume (10,000 tonnes) Selling price (RMB/ tonne) Sales volume (10,000 tonnes) Selling price (RMB/ tonne) Sales volume (10,000 tonnes) Selling price (RMB/ tonne) Sales Volume (%) Selling price (%) I. Self-produced commercial coal Total 10,145 474 10,038 571 107 -97 1.1 -17.0 (I) Thermal coal 9,389 438 9,191 503 198 -65 2.2 -12.9 Domestic sale 9,389 438 9,191 503 198 -65 2.2 -12.9 (II) Coking coal 756 921 847 1,306 -91 -385 -10.7 -29.5 Domestic sale 756 921 847 1,306 -91 -385 -10.7 -29.5 II. Proprietary coal trading Total 8,785 469 10,114 598 -1,329 -129 -13.1 -21.6 (I) Domestic resale 7,988 473 9,338 600 -1,350 -127 -14.5 -21.2 (II) Self-operated exports 11 1,188 44 1,360 -33 -172 -75.0 -12.6 (III) Import trading 786 420 732 525 54 -105 7.4 -20.0 III. Import and export and domestic agency º Total 106 22 399 10 -293 12 -73.4 120.0 (I) Import agency 1 1 ¹ ¹ 1 – – – (II) Export agency 89 26 58 36 31 -10 53.4 -27.8 (III) Domestic agency 16 4 341 6 -325 -2 -95.3 -33.3 ¹: N/A. º: Selling price represents agency service fee. Note: Sales volume of the commercial coal is before netting of inter-segmental sales within the Company, which was 14.45 million tonnes (including 10.97 million tonnes of self-produced commercial coal and 3.48 million tonnes of proprietary coal trading) from January to September 2025, and 12.94 million tonnes (including 9.00 million tonnes of self-produced commercial coal and 3.94 million tonnes of proprietary coal trading) from January to September 2024.
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10 4. Unit cost of sales of self-produced commercial coal and the year-on-year changes Unit: RMB/tonne Currency: RMB Items January to September 2025 January to September 2024 Year-on-year Increase/ decrease in amount Increase/ decrease in percentage (%) Materials costs 51.56 56.11 -4.55 -8.1 Staff costs 51.79 53.27 -1.48 -2.8 Depreciation and amortization 47.88 45.46 2.42 5.3 Repair expenses 9.44 10.77 -1.33 -12.3 Transportation costs and port expenses 57.15 57.15 0.00 0.0 Outsourced mining engineering fee 29.69 27.02 2.67 9.9 Other costs º 10.16 36.82 -26.66 -72.4 Unit cost of sales of self-produced commercial coal 257.67 286.60 -28.93 -10.1 º: Other costs include the environmental restoration expenses arising from coal mining, and the expenditures for the sporadic projects incurred in direct relation to coal production and the utilization of unused safety and maintenance funds provided in prior years or for the current period. From January to September 2025, the Company ’s unit cost of sales of self-produced commercial coal was RMB257.67/tonne, representing a year-on-year decrease of RMB28.93/tonne or 10.1%. This was mainly attributable to the following factors: the Company ’s in-depth promotion of the standard costs system, strengthened management of tender-based procurement, and further optimized production organization, which together reduced the material costs per tonne of coal by RMB4.55/tonne year-on-year; and the decrease of other costs per tonne of coal by RMB26.66/ tonne year-on-year due to the increased utilization of safety and maintenance funds to meet safety production and future production continuity requirements, which reduced the balance of special funds.
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11 5. Sales volume and price of major coal chemical products and the year-on-year changes Currency: RMB Items January to September 2025 January to September 2024 Year-on-year Increase/decrease in amount Increase/decrease in percentage Sales volume (10,000 tonnes) Selling price (RMB/ tonne) Sales volume (10,000 tonnes) Selling price (RMB/ tonne) Sales volume (10,000 tonnes) Selling price (RMB/ tonne) Sales volume (%) Selling price (%) I. Polyolefin 98.4 6,547 113.5 6,971 -15.1 -424 -13.3 -6.1 1. Polyethylene 50.5 6,753 58.9 7,281 -8.4 -528 -14.3 -7.3 2. Polypropylene 47.9 6,331 54.6 6,636 -6.7 -305 -12.3 -4.6 II. Urea 180.5 1,746 151.0 2,134 29.5 -388 19.5 -18.2 III. Methanol 149.5 1,757 120.6 1,767 28.9 -10 24.0 -0.6 Of which: Inter- segment self- consumption 128.4 1,774 118.7 1,769 9.7 5 8.2 0.3 External sales 21.1 1,650 1.9 1,614 19.2 36 1,010.5 2.2 IV. Ammonium nitrate 42.2 1,808 42.2 2,101 0.0 -293 0.0 -13.9 6. Unit cost of sales of major coal chemical products and the year-on-year changes Unit: RMB/tonne Currency: RMB Items January to September 2025 January to September 2024 Year-on-year Increase/ decrease in amount Increase/ decrease in percentage (%) I. Polyolefin 6,275 6,015 260 4.3 1. Polyethylene 6,240 6,038 202 3.3 2. Polypropylene 6,312 5,991 321 5.4 II. Urea 1,270 1,527 -257 -16.8 III. Methanol 1,269 1,781 -512 -28.7 IV. Ammonium nitrate 1,431 1,288 143 11.1
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12 II. INFORMATION OF SHAREHOLDERS (I) Table of the total number of shareholders of ordinary shares and shareholders of preference shares with voting rights restored and shareholding of top ten shareholders Unit: shares Total number of shareholders of ordinary shares at the end of the reporting period 92,932 Total number of shareholders of preference shares with voting rights restored at the end of the reporting period (if any) – Particulars of top 10 shareholders (excluding share lent through refinancing) Name of shareholders Nature of shareholders Number of shares held Percentage of shareholding (%) Number of shares held subject to trading moratorium Shares pledged, marked or frozen Status Number China National Coal Group Corporation State-owned legal person 7,614,346,308 57.43 – Nil 0 HKSCC NOMINEES LIMITED Overseas legal person 3,961,174,895 29.88 – Unknown – China Securities Finance Corporation Limited (ʮ̡ ) State-owned legal person 335,624,355 2.53 – Nil 0 China Coal Hong Kong Limited (ʮ̡ ) Overseas legal person 132,351,000 1.00 – Nil 0 Industrial and Commercial Bank of China Limited – Cathay CSI Coal Open-end Index Securities Investment Fund (ʮ̡ Ñ इ ږ) Others 72,507,122 0.55 – Nil 0 Central Huijin Asset Management Company Ltd. (பʮ̡ ) State-owned legal person 65,745,241 0.50 – Nil 0 Rui Life Insurance Company Limited – proprietary funds (ࠢ ږ) State-owned legal person 41,511,000 0.31 – Nil 0 Hong Kong Securities Clearing Company Limited Overseas legal person 39,151,921 0.30 – Nil 0 Industrial and Commercial Bank of China Limited – Huatai-PineBridge CSI 300 Exchange-traded Open-end Index Securities Investment Fund ( ʕʈਠვБ လଉ 300 ږ) Others 31,220,791 0.24 – Nil 0 Bank of Beijing Co., Ltd. – Invesco Great Wall Jingyi Double Interest Debt Securities Investment Fund (ࠢ ᗇՎ ږ) Others 29,062,700 0.22 – Nil 0
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13 Particulars of top 10 shareholders not subject to trading moratorium (excluding share lent through refinancing) Name of Shareholders Number of listed shares held not subject to trading moratorium Type and number of Shares Type Number China National Coal Group Corporation 7,614,346,308 Ordinary shares denominated in RMB 7,614,346,308 HKSCC NOMINEES LIMITED 3,961,174,895 Overseas listed foreign shares 3,961,174,895 China Securities Finance Corporation Limited (ʮ̡ ) 335,624,355 Ordinary shares denominated in RMB 335,624,355 China Coal Hong Kong Limited (ʮ̡ ) 132,351,000 Overseas listed foreign shares 132,351,000 Industrial and Commercial Bank of China Limited – Cathay CSI Coal Open-end Index Securities Investment Fund (ʮ̡ Ñ ᅰ ږ) 72,507,122 Ordinary shares denominated in RMB 72,507,122 Central Huijin Asset Management Company Ltd. (பʮ̡ ) 65,745,241 Ordinary shares denominated in RMB 65,745,241 Rui Life Insurance Company Limited – proprietary funds (ږ) 41,511,000 Ordinary shares denominated in RMB 41,511,000 Hong Kong Securities Clearing Company Limited 39,151,921 Ordinary shares denominated in RMB 39,151,921 Industrial and Commercial Bank of China Limited – Huatai-PineBridge CSI 300 Exchange-traded Open-end Index Securities Investment Fund (ʮ̡ Ñ လଉ 300 ό ږ) 31,220,791 Ordinary shares denominated in RMB 31,220,791 Bank of Beijing Co., Ltd. – Invesco Great Wall Jingyi Dual Return Bond Securities Investment Fund (౻ ږ) 29,062,700 Ordinary shares denominated in RMB 29,062,700 Explanations on affiliated relationship or parties acting in concert among the above-mentioned shareholders China Coal Hong Kong Limited (ʮ̡ ) is a wholly-owned subsidiary of China Coal Group ( ʕʕ ), the controlling shareholder of the Company. It is not certain if any of the other shareholders are affiliated or acting in concert with each other. Details of top 10 shareholders and top 10 shareholders not subject to trading moratorium participating in securities margin trading and short selling and refinancing (if any) Top 10 shareholders and top 10 shareholders not subject to trading moratorium did not participate in securities margin trading and short selling and refinancing.
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14 Notes: The above tables of particulars of top 10 shareholders and particulars of top 10 shareholders not subject to trading moratorium are based on the followings: 1. The above information was prepared in accordance with the register of shareholders of the Company as at 30 September 2025 provided by China Securities Depository and Clearing Corporation Limited Shanghai Branch and Computershare Hong Kong Investor Services Limited. 2. The A shares held by Hong Kong Securities Clearing Company Limited are held on behalf of various customers. 3. The H shares held by HKSCC NOMINEES LIMITED are held on behalf of various customers. As at 30 September 2025, 7,614,346,308 A shares of the Company are held by China Coal Group, accounting for 57.43% of the Company ’s total issued share capital; 132,351,000 H shares of the Company are held by China Coal Hong Kong Company Limited, its wholly-owned subsidiary, aggregating amount of approximately 58.43% of the Company ’s total issued share capital. As at 30 September 2025, according to the disclosure of interests published on the website of HKSE, Funde Sino Life Insurance Co., Ltd. had long positions in 1,724,301,147 H shares of the Company, and China CITIC Financial Asset Management Co., Ltd. (΅ ʮ̡ ) had long positions in 494,575,000 H shares of the Company. Particulars of shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders not subject to trading moratorium participating in refinancing and share lending ½ Applicable √ Not applicable The top 10 shareholders and the top 10 shareholders not subject to trading moratorium changed from the previous period due to the lending/repayment of refinancing ½ Applicable √ Not applicable
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15 III. OTHER CAUTIONS Other important information in relation to operating of the Company during the reporting period that investors are advised to pay attention ½ Applicable √ Not applicable IV. QUARTERLY FINANCIAL STATEMENT (I) Type of audit opinion ½ Applicable √ Not applicable Relevant information on the adjustment to the implementation of the financial statements at the beginning of such year for the first time against initial application of the new accounting standards or interpretation of standards since 2025 ½ Applicable √ Not applicable By Order of the Board China Coal Energy Company Limited Wang Shudong Chairman of the Board, Executive Director Beijing, the PRC 27 October 2025 As at the date of this announcement, the Company ’s executive directors are Wang Shudong, Liao Huajun and Zhao Rongzhe; non-executive director is Xu Qian; independent non-executive directors are Jing Fengru, Zhan Yanjing and James Kong Tin Wong. * For identification purpose only