China Shenhua Energy’s 2021 Net Profit Jumps 44%

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By Ronnie Harui
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China Shenhua Energy Co.’s net profit jumped 44% in 2021, mainly thanks to a substantial increase in revenue.

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Net profit climbed to 51.61 billion Chinese yuan ($8.11 billion) in 2021, the Hong Kong-listed Chinese energy company said in a statement late Friday. Revenue rose to CNY335.22 billion in 2021 from CNY233.26 billion in 2020.

For 2022, China Shenhua Energy targets revenue of CNY2.97 billion, 11.5% lower from 2021, and operating costs of CNY2.05 billion, 14.4% lower from 2021, it said. The company also targets commercial coal production of 297.8 million tons and coal sales of 402.9 million tons for 2022, it added.

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The energy company plans to accelerate the construction of a clean, low-carbon, safe and efficient modern energy system, to consolidate the core advantages of its integrated operations and ensure the safe and stable supply of energy, it said. The company also intends to promote the construction of green mines, green transportation, green power plants and green chemicals facilities.

Write to Ronnie Harui at [email protected]

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Credit: www.marketwatch.com /

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