Regarding the operational performance of our company for the first quarter of 2024. I sincerely thank you for your long-term concern, support, and care of China Coal Energy. The present at today's meeting are Mr. Zhao Rongzhe, the Executive Director and President of the company, Mr. Zhang Chengjie, an Independent Non-Executive Director, and Mr. Chai Qiaolin, the Chief Financial Officer, as well as relevant persons of the Company's Securities Affairs Department, Planning and Development Department, Finance Department, and Coal Department, Coal Chemical Department, and Electric Power and New Energy Division, and the Marketing Office. Now, I would like to introduce to you the company's performance of Q1 2024. Unless otherwise specified, the following data are calculated according to China Coal Energy Company Limited's overview of first quarter performance.
In the first quarter, faced with the market situation of the weak supply and demand of the coal and coal chemical products and the downward price fluctuation, the company scientifically organized production and sales strengthened the safety management to improve the quality and efficiency in depth and achieve the smooth starting production operation. The main production and operation data, the coal production and sales volume due to factors such as increase in the time for enterprises to stop production and overhaul during the Chinese New Year compared to last year, geological reasons, and gradual tightening of the local government supervision, the company's commercial coal output was 32.73 million tons, down 570,000 tons year-on-year, down 1.7%. The sales volume of commercial coal was 63.87 million tons year-on-year, decreased by 10.9 million tons, or 14.6% among them.
The sales volume of self-produced coal was 32.31 million tons, down 0.8% year-on-year. The sales volume of buyout traded coal was 29.73 million tons, down 24.4% year-on-year. The sales volume of agent coal was 1.83 million tons, down 36.7% year-on-year. The selling price of the coal products. The average selling price of self-produced commercial coal is CNY 598 per ton, a year-on-year decrease of CNY 73 per ton by 10.9%. The average selling price of buyout traded coal was CNY 611 per ton, a year-on-year decrease of CNY 124 per ton, down 16.9%. Cost of the coal products in the first quarter. The company scientifically organized the production strength and production continuity, intensified the reform of income distribution, and continuously improved the salary level of the first line production team.
The unit sales cost of the company's self-produced commercial coal was CNY 290.97 per ton, an increase of CNY 18.42 per ton, an increase of 6.8% compared with the unit sales cost of self-produced commercial coal in 2023. It is CNY 307 per ton, a decrease of CNY 16.03 per ton. The main reasons are as follows. First, the company strengthened production continuity and the self-operated scraping amount of open pit mines and self-operated deriving footage of the wells and the mines increased year-over-year, which increased the material cost and labor cost per ton of coal. Secondly, the year-on-year decrease in the expense to use the company's special funds and the decrease in the production-related ceramic mining expenditures have increased other costs such as the balance cost of special funds for a ton of coal.
Production and sales volume of major coal chemical products, polyolefin production was 392,000 tons, up 3.7% year-on-year. Sales volume was 373,000 tons, up 2.1% year-on-year. Urea output was 475,000 tons, down 0.8% year-on-year. The sales volume was 551,000 tons, down 14.6% year-on-year. Methanol output was 412,000 tons, down 17.4% year-on-year. The sales volume was 396,000 tons, down 21.89% year-on-year. The output of ammonium nitrate was 130,000 tons. The price of the main coal chemical products, the sales price of polyethylene is CNY 6,849.48 per ton, down CNY 208 per ton, down 2.9%. The sales price of urea was CNY 2,233 per ton. A year-on-year decrease of CNY 481 per ton, down 17.7%. The sales price of methanol was CNY 1,675 per ton. A year-on-year decrease of CNY 157 per ton, down 8.6%.
I'm going to share with you about the cost of the main chemical products. The unit sales cost of self-produced coal chemical products decreased year-on-year due to the decrease in the purchase price of the raw coal, fuel coal, and raw methanol. The unit sales cost of polyethylene products was CNY 5,899 per ton. A year-on-year decrease of CNY 363 per ton, down 5.8%. The unit sale price of urea was CNY 1,561 per ton. A year-on-year decrease of CNY 276 per ton, a decrease of 15%. The unit sales cost of methanol was CNY 1,741 per ton. A year-on-year decrease of CNY 389 per ton, down 18.3%. The unit sales price of ammonium nitrate is CNY 1,515 per ton, up CNY 261 per ton year-on-year, up 20.8%.
Equipment business, the output value of coal mine equipment was CNY 2.9 billion, down 44.9% year-on-year. The business financial company grasped windows, scientifically managed lean funds, created efficacy, and increased profits by CNY 378 million, an increase of CNY 77 million over the same period of last year. The main financial indicators, in the first quarter, the company achieved an operating income of CNY 45.4 billion, down 23.3% year-on-year, an increase of CNY 8.64 billion from the fourth quarter of 2023. The total profit was CNY 8.7 billion, up CNY 3.55 billion from the fourth quarter of 2023. The net profit attributable to the shareholders of listed companies was CNY 5 billion. The basic earnings per share was 0.37 CNY, a year-on-year decrease of 31.5%.
The main profit increase and decrease factors, the profit increase factors are, firstly, the tax and the surcharge decreased by CNY 191 million, mainly affected by the decrease in the sales volume of self-produced coal and decrease in the first sales price. The major coal chemical enterprises increased their profits by CNY 139 million, mainly affected by the decline in purchasing prices of raw coal, fuel coal, and raw methanol. The financial expense decreased by CNY 90 million, mainly affected by the company's continuous optimization of the debt structure. Number 4, the financial business increased its profit by CNY 77 million, mainly in the first quarter. Financial companies grasped the window, scientifically managed the lean funds, created efficiency, and increased profits. The profit reduction factors, the price of self-produced commercial coal decreased by CNY 2.369 billion, mainly affected by changes in the coal price.
Industrial income decreased by CNY 140 million. Coal and coal chemical enterprises, mainly participating in the stock market, suffered a significant decline in profit due to falling prices. The unit sale cost of self-produced commercial coal increased and the profit decreased by CNY 35 million. The main reason is that the company scientifically organized production. Number four, the profit of power generation and the heating business decreased by CNY 171 million. It is mainly the mediation and maintenance of the power plant units and maintenance DC lines that affect power generation. Second, I'm going to share with you about the second quarter of the key work arrangement.
The company should strengthen the confidence, work hard, continue to maintain a stable situation, safe production, focus on improving production and market capabilities, and effectively strengthen cost control to ensure the main business indicators in the first half of the year are successfully achieved, laying a solid foundation for completing the annual business objectives. So that's why. We needed to firmly adhere to the safety bottom line to ensure the sustained and stable production. We have effort to stabilize the production, increase sales, and increase efficiency to ensure the completion of budget targets. Number three, we are going to continue reduced cost and cap of potential.
And then I also hope that we could work really hard with all those continuous developments to give the feedback to all the different shareholders as well for me. So now we will come to the Q&A session. I sincerely welcome you to propose more questions. Thank you. Thank you, all the distinguished leaders. And now we would invite all the co-participating analysts to do the first round of the questions. So can you hear me, all the leaders?
I am from Minsheng Securities, Zhou Tai. And I would really like to thank all the management team and all the leaders. Thank you so much for this hard work. So for the overall business, it's very, very satisfying. And I also would like to ask several questions. The first one is about our productivity.
I have already seen that for Q1, the entire productivity is the same, like the same period last year. But for the single month, for March, it is declining for Shaanxi Province because of this stringent requirement about the regulation. So the overall reduction of the productivity in Shaanxi has been noticed. I want to say that has it been influenced negatively by this safety supervision and regulation? And then it's already been like one month after that. What is the current status quo of the productivity? So the second thing is for this Dahaize, from 17 million-20 million, so how is the whole process being proceeded? And for all those NGOs that collaborated, the situation has it been changed for this annual productivity? What is the overall look for that? Thank you.
And then for the productivity, I will invite Mr. Li Zhaofeng from the Coal Department to answer your question.
So for Q1, we have gotten the influence of this coal strategy and the coal regulation. For this resumption of the work has already led to the overall negative influence. But for March, for this safety supervision, and we have already got this certain influence. And for this safety risk, it's quite high. So from supervision perspective, regulatory perspective, and I think that we are doing quite a lot of work to try to compensate that. This is about the overall productivity. And then for Dahaize, from this 17 million to 20 million is basically being finished. And now it's about this 20 million. We also have already got this overall development. And we also have Douzhu Jian and all the two different mines have already got about 5 million tons.
Now we are actively dealing with all the procedures. We are actively trying to deal with that. That's all. Please carry on the questions. Okay. Thank you, leaders. I also would like to propose the second question. It's about Yulin for this deep processing base. What is the construction schedule and the schedule for production? Thank you. For your question, you want to ask about this Yulin coal chemical phase two construction, right? We will have this coal chemical department, Mr. Zhao, to answer that. For Yulin for phase two, and for the project, the overall construction period is about 30 months. For the overall investment, it's about CNY 23.8 billion. The current project has already finished the entire decision for investment. For the basic design and for the preparation work are still being done. It includes a basic design.
For WP, for these key devices have also been finished. For all those high-end work has already been done. So that's all. Thank you.
Okay. Thank you. Thank you, the leader. That's all for me.
Thank you. Okay.
So for the rest of the participants from different securities companies, do you have any questions?
Hello? I'm Ling Guosheng from Southwest Securities. Thank you so much for the time to do this on-site sharing. I have a little question here. Can you hear me?
Yes, I can. Please carry on.
I have a question. We can see for Q1, for this commercial coal, the cost is having a significant increase. It's about 18.42 CNY. So the major reason, except for this reduction of the sales, is also because of this self-construction of all those development and all the different subsidy for this team work.
So I have a question that for the increase of the amount, is this actually because of the reason of this mine or for this yearly prospect? What kind of guidance for that? It's about the cost.
Okay. Thank you. So I will invite another member of the leadership to answer you that.
So for Q1 last year, we are having this overall low cost for the last year for all the different aspects of the work. And for this year, it is having this negative influence of this overall high cost. And we are also doing the overall work. So we also have already got less production. So for the overall cost this year for Q1, we are also doing every aspect, every effort to control the cost.
Okay. Thank you. That's all for my answer.
Okay. Thank you. That's all. Okay.
Thank you.
I think we also have some other different participants online. Do you have any more questions?
Hello? I'm from Guosheng Securities, Zhang Jinming. I would like to use this opportunity to ask a question about the future capital expenditure, the CapEx plan, because we all know that for our group, because we have already got this coal chemical and coal energy integrated operation. So maybe for us, it's more shorter in the arrangement about this coal chemical, especially the arrangement of taking an example of Yulin phase two. So maybe for coal chemical, how big is the CapEx? And how do we balance the CapEx in chemical industry and about the payback of all the shareholders and about the dividends?
So here, I would like to say that for the investment in this coal chemical industry, and we can already see that this is also about this long schedule and the long period. For the rest of the projects, for the entire CapEx, how big the size would be? And how can we balance what, for example, the increase of this dividends? And there are two different questions. Let's first answer the question. It's about this coal chemical CapEx. And for our annual report, we have already disclosed it's about CNY 16 billion. And it's about CNY 4.87 billion compared with 2023, the actual realization. We have a very big increase. It's mainly because for Yulin phase two projects, for this CapEx. And so we also have this actual construction. So we have already got this entire investment level introduced by Mr. Zhao.
So in the future, this will mainly center on this Yulin phase two to do this CapEx about this coal chemical industry. This is about the first one. And of course, about this basic procedure, we will arrange that one by one and about the dividend issuing. So for this annual report release, we have already done this explanation to all the investors. We will have our CFO about the dividends to do the further explanation to all of you. Okay? So for the dividend, for this annual release, we have already done that for this company dividend. It's sticking to this stable operation of the company, generally speaking. We have already mentioned, for example, in the past few years, we have already been very generous sending out the dividends. And we also could further improve for all the different ones.
And then we also can say that for the past few years, we are still doing the dividend issuing. We also have seen that for the whole process and for the entire development, this is about this high-quality feedback, high-quality payback. So generally speaking, we will maintain the dividends and maintain the stable operation with our further investment to further guard in line with this basic level and then to have a better servicing of all our shareholders and investors.
Okay. Thank you. And I have another question. It is also proposed by the first investor. So for Pingshuo mine, and it's about the 90 million productivity. It's about the overall capacity. So we are very looking forward and caring about this following of this Pingshuo mine. And maybe it's about this Shaanxi safety requirement for Pingshuo for this future 3-5 years of this prospect.
What is the prospect of that for Pingshuo? We still have Mr. Li Zhaofeng from this coal department for Pingshuo mine. And now we have quite a big arrangement for that currently. For the overall 2023 prospectivity, I have already answered. For the current capacity, it's about 30 million and then to be even reduced to 25 million because of this safety problem for this annual presentation. And we also expect that if this procedure could be done and we could also restore it to about one to two years, it will be recovered to this ordinary productivity level. And so it's about 10 million tons now. For this overall scale of productivity, it's about 90 million tons. So now it's about this investors caring about this continuation of the resources. Currently, we have this indeed, we are faced with this problem.
But in the next five years, the productivity could be maintained in this very balanced and stable way. And after we're dealing with all the different procedures, the Pingshuo's productivity, we'll still have a slight increase. This is the overall situation. Thank you.
Okay. Thank you. Thank you. That's all.
Okay. So thank you, all the distinguished leaders. We will have Haitong Securities to do the question proposing. So thank you. I'm Haitong Li Miao. I also would like to have a question for all the different managers, leaders. So it's about the price because in Q1, for this comprehensive selling price, it's down by 11%. So for the coking coal and for this steam coal are all with a similar reduction. But for the long-term contract and agreement price, it is actually much less than this reduction.
So we think that comprehensive price reduction compared with this spot goods price reduction and the long agreement price reduction, it is much longer than that, much bigger than that. So we want to know that what about the current pricing model and any changes of this spot goods price? I would like to clarify that currently, for the comprehensive price compared with this market, it seems that we are having a much bigger reduction of the price compared with the market average. So for example, about 80% of this long agreement price, you can see that our reduction is a little bit bigger than the market average because for 2024, for this overall proportion for this long agreement, and I would like to know that what is the current level of our long-term agreements? So I still stick to this original long-term contract.
So we haven't got a very significant change. According to the related requirements, then we have already organized this cooperation, and we have about 90% of the scale. At the same time, we also have already got this cooperation to deal with this long-term contract. We haven't got very significant changes. However, for the price and for the specific delivery, for the quality, and because of the entire balance and also about the way of delivery, for example, it's about the relationship with this market or supply. This would also influence the common practices of different quarters. Then for the comprehensive proportion, it doesn't have a very big change for the long-term agreement.
Okay. Got it. Thank you, Mr. Zhao.
I also would like to probe one more question because for Dahaize coal mine, and then this is having the supporting functionality to support the chemical industry. So now we have this additional 5 million tons. These are all supporting this sale on the spot because we haven't got the specific arrangement of the Dahaize. And then I have to say that if it is all guaranteeing this long-term contract, we cannot say for sure. But we first guarantee the long-term sales. Have you heard of that?
Okay. Got it. That is to say that for Dahaize, these are all guaranteeing this long-term supply. It's not like the incremental amount is actually sold on this spot. I didn't hear you clearly. Yes. We can see that for this additional productivity, we'll first guarantee the long-term contracts.
Okay. Got it. Thank you. Thank you so much.
Thank you so much for answering. So we will have 6322 with the phone number to propose the questions. So please share with us where you're from.
Thank you. Hello, all the leaders. I am from Citibank. So can you hear me? Yes. I am the analyst from Citi. So thank you so much for the introduction and congratulate you on this Q1 business. I have several questions. There are questions that I also would like to probe. Maybe they have already been asked. It's about this self-produced coal. Cost is up by 7% for the cost. I have several different clarifications. Compared with last year, so you also can say that for this seasonal reason, you are also trying to eliminate this seasonal cost fluctuation. So for Q1, we have already got this seasonal feature to be reduced.
My question is for the afterwards seasons and quarters, is it also predicted to have this continuous increase? And how big would the increase be? So this is the first question. I will ask them one by one. Thank you so much.
Okay. For this question, I will have Mr. Chai to answer you.
For the cost, you already know that for this operation, we are very stable in the operation. For the different seasons and for the quarters, they are all very stable. We already can say that there are several fluctuations compared with the same time last year. We have already got some objective ones. You already can see that for our investment, we're all to say that it's fewer than that. For the last three quarters of last year, we have invested more.
The next thing is for the entire business and the original management; these are quite related to that because of the feature of our company. So even if the market is not very positive, we are still trying to invest more to even the cost out. So for the next year, we are also preparing for the next year's future growth to increase the safety and all infrastructure investment. So for all the different management results, maybe you could think that for our work, whether we could realize or not, and we also could do more about it. Then because whether it is actually having this progress, it is related to that. I also have to say that first of all, it is about the entire Q1 status quo. I have to say that for our arrangement, it's about this year compared with last year.
So we just want to keep stable growth and stable development no matter it's about this speed or about the work or try to extend the investment. Maybe from all the different aspects, we want to say that it is harder for us to have the cost to be maintained. But generally speaking, this is still being scientifically managed. Okay. That's all. Thank you.
So thank you, Mr. Chai.
And I have answered your question in a very conscientious manner. I have to say that it doesn't get this very strict, very specific prediction. But the final result is still depending on the final realization at the end of the year. Okay? It doesn't influence any judgment on operation. Okay? The second question is about the coal chemical industry product cost. You can see for Q1, for all the different costs compared with Q4, they have already declined a lot.
I have to ask one thing. It's about the coal chemical industry. They have also got this seasonal influence, have got this Q4 cost being high or just because of this raw material price increase and decrease. And then how can we just say that which one is having a higher relevance with that? Okay. That's all. Thank you. It's still about this reduction of the price of the raw coal. And then these are the main reasons. It's having nothing to do with the seasonality. Our idea is actually we are subject to this raw material, the coal price. And the next thing is we are also influenced by this methanol, miso alcohol. These are also the reason why we are having this significant change of the cost.
Okay. Thank you. Very clear. So last question is also about the price.
Just now, we also have already got different analysts asking this. Maybe for this coking coal, so for self-produced coking coal, the selling price compared to Q4, it is having a slight increase. However, the market price is declining. So we can check the reason why it is having a better performance compared with the market average. Why is that?
I would like to invite Mr. Song to answer the question.
So from the market perspective, for Q1, for the market demand is quite weak. So for this entire coking coal, it's actually quite weak demand. So from our self-produced coal, it's also influenced by the pricing influence. This is also having certain lagging behind of that for Q2 for the entire coking coal. I think that with our prediction, it will still go upward a little bit. So it is a little bit lagging behind.
Okay. Thank you. Got it. Thank you so much for the sharing. That's all from me.
So now we will have this 0163 phone number to propose the question. So can you hear me, all the leaders? Yes, we can hear you.
All the leaders, hello. I'm from Yangtze River Securities. And congratulate you on the good performances. So I only have two questions after hearing a lot of questions proposed by our colleagues. So you can see for the Libi mine, so for the entire profitability, it's still quite good. So for Li Pei, it's under another constructed mine. So after it is being production, sorry. Can you slow down a little bit? Sorry, we couldn't hear you clearly. You say which mine? We have two being constructed. One is Libi. One is Weizigang.
So for Libi, it is actually under our Huajing coking coal, right, for the mine. So I would like to ask Libi, compared with the Huajing coking coal, so the quality and profitability, and is this similar with the existing ones or even better? I also would like to say that Libi and Weizigou, after putting in production in 2025, how long time is needed? This is the first question. Thank you. Thank you so much.
So I would like to say that, Madame Mu Wei, we really cannot hear you very clearly. You could adjust the distance between you and the microphone.
Can you hear me now? Yes, much, much better. So we have already got it. It's about Libi and Weizigang. For Libi, it's coal quality and about profitability, right?
So compared with this Huajing, right, we would invite Mr. Li to answer that. And then it's about this productivity time, right, for Libi and Weizigang. We have Mr. Li from the coal department.
First, I would like to answer Libi. For Libi in Shanxi, Jingcheng, so the quality is about blind coal. You know that for blind coal and coking coal, it has already got a price gap. And you can see for the coking coal, compared with the blind coal, being higher. So this is one reason. And the second thing is for the Libi, it's about 4 million tons. So for Huajing, it's about 7.5 million. So from the productivity perspective, for Libi, the cost will be higher than that. This is the second one.
From the two different aspects, we can see that all of them combined, for Libi mine and the overall profitability, is lower than Huajing. So this is about Libi. For Libi, should it be in the trial production for next year's middle of the next year? So this is Libi. So this is about the productivity time. So Weizigang, the current scale is about 2.4 million tons. We expect the productivity time is about the end of next year. And that's all from me.
I would like to see that any other questions proposed by the investor. So thank you, all the leaders. So the second question is it's also about the coal mine because for existing mines, are just these two being constructed after 2025?
And then when they are all put in production for this newly added project we have, is further plan because previously, for NDRC, has also proposed about this reservation about the productivity capacity for 2025, about this new incremental capacity.
I would like to propose a question after 2025. Just now, there are two different questions. The first one is about the two planned constructed coal mines and whether the China Coal will have newly constructed coal mines. Previously, we have also answered this, proposed after the investor has proposed the question. For China Coal, I can say that we have a lot of resources for a short period of time. And what we are proposing, we have a Dahaize number two mine because for Dahaize, it's about 4.8 billion tons. It's about 150 years of the overall plan.
We plan to put Dahaize from 17 to 20. So for the current plan, it's about more than 20 million tons. This requires NDRC to do the plan for this newly planned productivity. For us, we are also accelerating the reserved resources. We are also actively promoting the related work. The second one is it's about this reserved capacity for NDRC has already proposed from two different aspects. The first one is for this being constructed mine, we would improve this reserved capacity. The second one, to apply for new mines for this reserved capacity. These are two different starting points.
For this constructed mines, when we are dealing with all the different situations, currently, I can say that for Libi and Weizigang, have all got the eligibility to apply for this reservation of the capacity because for the reserved capacity, and when the Chinese government requires that, we could release that. Normally, we are according to the current demand to release that. And then for the new reserve, you can already see that with the development and for all the different adjustments, so we could also appropriately apply for the capacity. This is also about 30% of this existing capacity. This is for the reserved capacity. So thank you. That's all. Thank you so much. That's all from me.
So thank you. I would invite 4500 for the telephone and number to first tell us where you're from and what's your name. Thank you.
All the leaders, can you hear me? Yes, please. So thank you. First, I would like to thank all the leaders for this valuable time. I'm Guohai Securities, Lin Guosong. I also would like to propose two different questions. The first one is 2021, for this Q1 sales structure is being optimized. For our self-produced coal, has been adjusted for this entire commercial coal. What is the positioning for that? Do we also have this further adjustment opportunity for that?
Thank you. I would directly answer you. For our self-produced coal, for this commercial coal and traded coal, we are still having this quite big amount of reduction. So in the future, we still will just vigorously stick to this business model of this buyout of this trade and commercial coal.
This is also one of the key selling points and highlights of our company compared with the competitors for our annual operation. We are actively seeking the buyout of this commercial coal. So that's all. Okay. And I also would like to ask for 2024, the basic CapEx, it's about CNY 16 billion. Is it slight decline compared with last year? And which are the key projects for our CapEx to be invested to? You mean for 2024, for CapEx, it's about CNY 16 billion. Compared with the plan of last year, it has this slight decline. And this is also for all the different numbers. So I would like to invite Mr. Zhang.
For 2023, we can see that for 2024, when we plan for the CapEx because the principle is we hope to be more stable. And for 2024, we are based on the requirements of the development.
It seems that compared with 2023, it is declining compared with CNY 1.8 billion. However, CNY 18 billion. So it is actually on the rise compared with that. For 2024, for the major purchase plan is for the infrastructure, is still about these several different coal mines and power plants. We also have already got this Yulin Phase II coal chemical industry and for some other different key aspects. That's all, mainly about the coal infrastructure investment.
Okay. Thank you. Thank you so much for the time.
So thank you, all the district leaders. This is about this written question from the internet. So I would like to ask Anjialing and Antaibao, the two mines, for their annual productivity, is how much? And then for the remaining years to be developed, is how much? How many years available for the mining lives?
So first of all, Antaibao mine, and so about 250 million tons. However, a lot are not able to be exploited. Now, we only have about 15 million, although we have a very big amount of reserve. And we can already see that for the following up, it's about 450 million with my current productivity. And it's about 20 million annually. We still have about more than 20 years for Antaibao. So for Anjialing, for this entire reserve, we have about 240-300 million tons because for the reserve, we mainly check this minable ones. So about 25 million for the service life is about 8-10 years for Anjialing. So this is about Antaibao and Anjialing. Thank you. That's all for the answer.
Thank you. We will have 1605 investor to propose a question.
Please first tell us where are you from?
We are from Ridge Capital. I have two questions. The first one is about the dividend. So to a large extent, it is attributed to this parent company. And we are following this cash. And we also have this cash bond. We have about CNY 20 billion of this net debt. So for the dividend for 2023 for China Coal Huaxin, and these are all having a very good they have about 50%-51% of the dividend previously. It's about CNY 230 million for 2023. Suddenly, it doesn't have this dividend paid to China Coal. For the rest of subsidiaries, have significantly improved the dividend paid to that. And we also have some other different for example, for China Coal, we also will be influenced by other different elements and factors.
I also would like to know, are there some reasons about that? This is the first question.
Okay. China Coal Huaxin, it is about 49% of the share.
No, no, no. Not Huaxing coal mine.
Yes. So for China Coal Huaxin, we have invested about 49% of the share. So for their dividend policy, we have to study to decide that. So politically speaking, for this wholly invested company without any exceptions, basically, they have just 100% paid the dividends. This is also based on the overall development. And then we just try to do that according to the plan annually for the proportion. For 2023, they haven't given you any dividend. So the thing is so it still depends on the board meeting to decide that. For this annual release, they haven't got this dividend board meeting to decide the proportion of the dividend.
We cannot just rule out the possibility that they will give this further dividend. I have to further explain that for China Coal Huaxin, they are still actively constructing some new coal mines. They still need a certain money to construct the new coal mines. This is also the reason. Indeed, it's about this board meeting, the board assembly to decide that. So until now, for China Coal Huaxin, they haven't got a very specific arrangement. Maybe for this semi-annual report time, we will see the update of that.
Yes, you can.
So the second question is previous investor has already checked about the price of this coking coal. For Q1 compared with Q4 last year, the price is increasing. And we have already seen for this consolidated sheet, it's mainly about this China Coal Huaxin.
The first one is about they have this clean coal and have this raw coal. I have to say, is it because of the average price increases because of this more proportion sold about this clean coal and the reduction of the raw coal? Because for entire Q1 compared with Q4 last year, the price reduction is quite obvious. We have this very different one. I also would like to say that all the distinguished price of raw coal and the clean coal are all on the decline. The question is actually quite detailed. We cannot rule out the reason. As analyzed by you. But for the specific answer, we need to double confirm. If you need that, you can communicate with our investor relations department. And we will give you a more confirmed answer. Okay?
Thank you. Thank you so much.
So now, let's see that are there any investors online and offline to propose a question. So if you want to propose a question for the participants from the telephone line, please first press star and then number one. So for online participants, you could just type the question in the chat box or you raise your hand to propose each question. So if you want to propose a question, you could first press star and then number one. And you also could have the interaction of the written word and also propose a hand raise your hand to raise a question. So now, it's about the written word question for Dahaize. 5 million increase of the procedure has already been approved. And when will we have this final productivity being reached? So for Dahaize, we have already finished the entire arrangement. It's about 12 million.
For next year, it will, according to the plan, according to the schedule, finish our planned production. Thank you. We would like to propose another round of the question proposing methods. If you want to propose a question, please first press star and then number one. For online participants, you could directly type in the question in the interaction zone or raise your hand by pressing the raise hand button. The next question is from the written one.
Hello, all the leaders. Just now, I couldn't hear the telephone. I would like to say that for Pingshuo, for the Pingshuo mining zone with Dahaize, it has about 20 million of this productivity expansion. Is that right? Could I have a clarification of that? For the question, can you repeat it?
The question is for the last two to three years for Pingshuo plus Dahaize. And we have about 20 million tons of this productivity expansion. Is that right? You cannot just answer like that. Our overall productivity and capacity have already been released to a certain extent. In the future, for China Coal Energy, we will maintain the stability. It is a higher possibility. I cannot rule out that we will have some fluctuations of the productivity. And so we could also keep it 2023 for the productivity. And this is also quite possible for us to maintain the stability level until now. So now, let's invite the next telephone investor. So please share with us where are you from? He has already canceled the raised hand.
Now, let's see the last round of proposing the question and to see whether there are more questions to be proposed. If you want to propose a question, please first press star and then number one. So for online participants, you could directly type the question in the interaction zone or to click the raise the hand button to propose a voice question. Okay? So the next written question is I would like to ask that Shanxi's resource tax has been increased. Has it influenced our efficiency of the operation? I will invite Madame Xu from the legal affairs department.
So for the tax, we're having certain influence of our cost. And for Huaxing and Pingshuo of Shanxi, they will have this certain original cost. And then it would also influence the profit. That's all.
So the last one the next one is whether you could give me an indicator on what circumstances you will invite a higher dividend. For example, what kind of CapEx? And then can you give a more stable expectation? So for the dividend, I have already answered for many times. I would like to propose it one more time. I repeat it one more time. Since our getting listed, it's about 20%-30% of dividend. We have stick to this 30% of dividend for many years after being listed. Until now, we are still sticking to the 30% of this profit to do the dividend issuing. So this is what we have proposed. And we are also keeping the promise. Thank you so much. And for online, we have no more investors. And for offline, can we just finish the live broadcast?
And then we will turn to this written question session. Thank you, all the leaders.