Distinguished leaders and investors, I am Wang Shudong, and welcome you to participate in this semi-annual performance briefing of the company in 2023. I sincerely thank you for this long-term concern, support, and care for the company. We have with us CFO, Chai Qiaolin. We also have with us Security Affairs Department, Strategic Planning Department, Finance Department, Coal Business Department, Chemical Industry Department, Electric Power and New Energy Department, Coal Sales Center, Chemical Product Sales Center. Now I'm going to introduce this brief introduction of the company's performance in H1. For the H1 this year, the company fully implemented development idea of improving our stock capacity, improve this efficiency, and then to have this restructuring of this overall growth. And then we have already got this overall high-quality development, maintaining a stable trend. So the first one is the coal production.
We have already got the output of commercial coal was 67.12 million tons, increase of 7.89 million tons by 13.3%. The sales volume of commercial coal was 147 million tons, increase of 13.17 million tons, by 9.9%. Among them, the sales volume of self-produced coal was 64.85 million tons, a year-over-year increase of 10.6%. And, we have this buy-out trade coal sales reached 76.2 million tons, up by 10.5% YoY. The sales volume of agent coal was 5.61 million tons, down by 4.6%. And then for the selling price, the average selling price of self-produced one is CNY 624 per ton, down by CNY 128.
And the, this thermal coal is CNY 548 per ton, down by 13.8%. And the, the average selling price of coking coal is CNY 1,412 per ton, down by 23.1%. The average selling price of buy-out trade coal was CNY 692 per ton, down by 16.9%. And then, the next one is about our production and sales of our major coal chemical products. The output of polyolefin was 762,000 tons, up by 1.3% YoY. Sales volume of seven hundred and forty-nine thousand tons, up by 3.0%. And urea output was 986,000 tons, down by 1.8%.
Sales volume was 1.199 million tons, up by 5.0%. The methanol output was 965,000 tons, down by 0.5%. And then the output of ammonium nitrate was 290,000 tons, YoY increase of 32.4%. So all the selling price of main coal chemical products, the sales price of polyolefin is CNY 6,903 per ton, down by CNY 807 per ton. The sales price of urea was CNY 2,484 per ton, a YoY decrease of CNY 240 per ton, down by 8.8%. The sales price of methanol was CNY 1,770 per ton, down by 7.8%.
The sales price of ammonium nitrate was CNY 2,414 . The cost of main coal chemical products, the unit sales cost of polyolefin was CNY 6,055 per ton, YoY decrease of 16.6%. The unit sales cost of urea was CNY 1,680 , and the unit sales cost of methanol was CNY 1,973 . And then equipment business, the output value of coal mine equipment was CNY 4.91 billion , up by 14.8%. Financial business operating income after deducting inter-segment transactions was CNY 928 million , an increase of CNY 12 million or 1.3% YoY. Other businesses, we have operating income after deducting inter-segment transaction, including electricity, aluminum, processing equipment, et cetera.
It's altogether worth CNY 356 billion, up by 2.9%. So for these main financial indicators in the first half of the year, the company achieved an operating income of CNY 109.357 billion, and the total profit was CNY 20.138 billion, and the net profit attributed to shareholders of listed companies was CNY 11.835 billion. The basic earnings per share was CNY 0.89 , and the YoY decrease of CNY 0.12 . And then for H1 this year, we have CNY 109.357 billion, so it's down by 7.4%. The CAGR growth is 8.5%.
The total profit was CNY 20.138 billion , as I said before, and this market condition is not very good, and we still strived to make the positive ones. The CAGR increase is also still quite high. The basic earnings per share was CNY 0.89 , YoY decrease of CNY 0.12 . The weighted average return on equity was 8.63%. And we also have, like this, a weighted average return on equity was 8.63%, down by 2.38%. The asset liability ratio was 49.9%, down by 1.6%.
We also can see that, all together, we have this, profit increasing factors like the sales volume of self-produced commercial coal increased by CNY 2.706 billion. Then the major risks are, the first one is We have this, unit sales cost of self-produced commercial coal decreased, and the profit increased by CNY 1.404 billion. The financial, and our overall price of self-produced commercial coal decreased by CNY 8.289 billion, and, we have the investment income decreased, by CNY 1.212 billion. And we altogether have this, self-produced commercial coal price decline, with this reduced, profit of CNY 8.289 billion. Investment income decreased by CNY 1.212 billion.
So we can also see that the cash flow that is in H1 of this year, the net cash flow from the company's operating activity was CNY 17.035 billion, and a YoY decrease of 3.087 billion yuan, and then the YoY decrease of 2.007 yuan. We have already formed different kinds of management methods to deal with that. So for H2 this year, we will still carry on this overall development of this high quality development, and then to also strengthen our overall construction to have this, like a overall, like annual work, and then to strengthen this project development, and then to perfectly realize all the different ones, and then to further enhance this energy security supply, guarantee capacity, and promote this green and low carbon transformation development.
The second is to thoroughly implement the development requirements for this deepening and upgrading the reform of state-owned enterprises, promote the reform to be deeper and more practical with a higher level. And we also have like a continuously, development of that. The third is adhere to this world-class benchmarking company and continue to further promote the lean management, vigorously carry out quality improvement and efficiency improvement, focus on improving this, quality of this operating and development. And then the fourth one is continue to improve the innovation management system, to accelerate the construction of innovative competence, and then to also accelerate the construction of the intelligent management and the control platform, integrating production, operation, and management, and drive transformation and development with innovation.
The fifth, we will continue to adhere to this system concept and bottom-line thinking, better coordinate and develop this safety and security, and also to have this better carbon emission reduction, and to have this overall development of this green development. The sixth one is we actively promote the level of governance and the quality of information disclosure, actively promote the special work of improving the quality of listed company controlled by this, the central government, and then fully complete the key tasks of different aspects. So all the management and all the colleagues of the company will bravely to take responsibility and act positively, and focus on the key points and strengthen the overall efforts, develop new achievements with high quality, better serve the national strategy, and give back to all the shareholders.
I also hope to guarantee this realization of this year-round task, and then to have this high-quality development to better serve us, and then to serve and pay back our investors and the shareholders. That's all. Thank you. Now let's come to the Q&A session, and I welcome all of you for your questions. Thank you.
Thank you so much for this sharing from the leadership. Now we will have this interaction session. Hello, everybody. For these participants on this phone line session, you first press star and then one. For the online participants, you could type your questions, or you could press the button of Raise Your Hand to do this voice question.
So if you want to propose a question from the telephone line, you first press star and then one, and then for online participants, you could, like, type your questions, or you could directly press the Raise Your Hand button there and then to speak for your question. So now let's have 6402 to propose a question. So first, tell us, where are you from?
Hello, and all the leaders, good afternoon. I am Minsheng Securities, Wang [Xianshan]. So I have three different questions to ask the company. The first one is about our CapEx, because for entire H1, I see that CapEx is actually quite low. I would like to know what is the reason? And then we also can see that for the entire year, we have this overall adjustment of the CapEx. We have that?
So for CapEx.
Okay, so for this, I would like to have our colleague to answer that. Thank you so much for the question.
So compared with 2022, we significantly improved the CapEx, and then we have about 24% of the realization. So we also can see the reason why, number one, is we strictly like stick to this examination, and then we also can see that for the time, it will be, like, longer. So for this investment, we see this in turn of the return, it will be taking a longer period of time. Next reason is when we do this restructuring, and then it has something to do with this overall cycle of this macroeconomic condition. So these are the two reasons why we have the lower CapEx realization rates. Thank you. Okay. So please carry on.
We also can see that, for this annual plan, we don't have any adjustment for that. So thank you so much.
Thank you so much. Yes, I still have two more questions. Hello, can you hear me? I still have two more questions. I would like to ask them together. The second question is, I would like to ask, because for H1, we have this coking coal. It has down by 23% of the unit sales. However, for this disclosure of this subsidiary financial information for this Zhongmei Huajin, and then for that, it's only dropped by 4%. I would like to know why? And then the third question is, it's about this Shanxi Yulaoyao, this deep integration, and we have about, like, CNY 90 billion of this benefit, and we still have about CNY 80 million of that.
However, for this, deep, processing, we have about 70% of this investment is about CNY 14 billion. We still hope to use this loan to solve that. I wanna know what's your consideration. Thank you. That's the two questions I have.
Thank you so much. Okay, so who wants to answer that? It's about this Yulin, the deep, processing project. Okay, so I would like to answer this question about, Yulin, so and the third question, and, you can also see it's about this capital gain and about our loan. I would like to have our colleague to answer that. I will have Mr. Chai to answer that, and later I also would, like to add up for this project. For us, you can also see for our investment, and we have, played a very good role for that.
Generally speaking, for this overall, like, development, for this whole structure, and, because now... And we have about CNY 90 billion to be down to CNY 30 billion. And we also can see that a part of that is we have about, like, the profit, and, we also can see it's about 15% of this gross margin to calculate. We only have about CNY 20 billion of this profit. So for different stages of the business operation, as a company, we still need to hold our cash flow. The second one, we are still considering the next stage of that, and then in order to have, like, a better one, and then we also can see for this about CNY 20 billion of this loan that is about to expire. So we also would like to say that...
So the second thing is, for this overall CapEx and, for all the different projects, for this final investment, we could guarantee all those projects could be launched. And then the next thing is, for like, we need to have at least to have a 30% of all the projects for that. So for this CapEx, we will just hold it a little bit. We will hold that for the different banks, and they will follow us to give us the loans. So for this overall investment plan, we have this, overall plan, and then we can also see for China Coal, we have this, very orderly management of our profit. So for this, capital plan is like that, because we hope to hold more cash flow.
So for every year, we also have this existing money to have this report and declaration, and then to also, like, manage our cash flow, and then this is a way for you. Thank you. I hope I have answered your question.
Okay, now, I would like to answer the second question. I would like to know that for this Huajin data, where did you get it? For this semi-annual... Can you hear me? Yes, I can hear you. For this semi-annual report, the previous question is very clearly answered. Thank you. So for this Zhongmei Huajin, I have checked this semi-annual report. It's a certain information about the subsidiary financial conditions. Okay?
So for H1 last year, for the subsidiaries, and, we also can see that it's about like, 20, 23, and, this is about 31.15. So... Okay, got it. No more questions. Thank you.
Okay, thank you so much.
Thank you so much. Now we have this investor with, 1838. Please first tell me what's your name and where are you from.
Okay, all the leaders, good afternoon. I am Huatai Securities, Wang Shui. I have two questions. The first one is for H1, for this output of the coal. Indeed, this is actually quite good compared with other different companies. We have this, very significant increase. We have already seen that, for H1, we also have some new investments. And, for...
I would like to know, like, what is this capacity for H2, and will it actually have more contributions for H2 or maybe for next year? So maybe for like the [Hetaoyu] , and we also have some increase of that. And then we also could have some other like potential capacity that could be added, and then whether we could just put it in production, this is about the capacity and the production. The second question is, I would also like to know that for H1 this year and for next year, for coking coal and for thermal coal, what is your prospecting for the future? Thank you.
Okay, for the first question, I will first have with us our coal business leader to answer that.
For H1 this year, for this coal capacity, basically this is according to our plan, slightly higher than our plan. So we have about 67 million, basically set aside, like our timeline and our plan according to the timeline and for H2. And we have two important key points. The first one is about this potential increase and whether we could release some potential production because we are based on some other different coals, and then we put it in this prospective list, and we are also using this several elements of that. So for this increment, it will not be like clearly shown in H2 this year. So for the third one is about like a Dahaize . So for this future supply of the Dahaize next year, I think we still certainly have some potential increase.
So as a company, so for next year, the main contribution of this new capacity is coming from the Dahaize .
Thank you so much for this steam coal. Okay, can you hear me? And then for the next question, can you please repeat that?
For the second question, I would like to ask you to look forward to this H2 for this steam coal and coking coal price prospect.
Okay, thank you. So you can also see for this price, we indeed look forward to that as one of the focuses. However, the market is always developing in an unexpected, surprising way. So I would like to share with you like from this demand and supply and analysis, from this sup-supply end.
So for H1's production is about 2.3, and then we already increased by 7.4%, and then it is up by 93%. So we also can see that from what you have already said, this is like the guarantee of this production is being done orderly manner, and then this is also having this significant decline of this coal price internationally. And we have this zero tariff policy, which is a very cheap imported one. So we can see that this import will definitely highly exceed that, to have this a great increase of that. So altogether, for our imported coal and our capacity, I would like to say this is a very sufficient supply. And from the demand perspective, we could feel that for the demand, this is quite weak growth, and this is for this pandemic.
After the pandemic, we have this, very big, like a reverse expectation with this kind of supply-demand relationship. For H1, I think this is about it's going down, so for the price. So it's actually like a CNY 722, and then for this in-stock, it's about CNY 1,042. So the price compared with last year, we still have like a quite significant decline. And speaking of this demand of supply, we can also see that these are not very matchy, and this is the reason why we have that, to have this price decrease. So in the latter half of this year, we have to demand on this industrial, projects to be launched, and then with this macroeconomic recovery. So we still have some uncertainties, and then I will not have a very clear expectation for that.
It depends on like, how big the economic development will have that. So we still have like a basic judgment. It's about like a fluctuation among that, but it won't have like a big, increase. It won't have like a big decline as well for the price of that. We think this is actually, in the fluctuation range. So from this first-grade coking coal, I think this is actually the supply is quite, sufficient, and the demand is actually not as high as we expected. So for this coking coal, we still use like this, low stock condition. So for this low stock, status quo, so from this first-grade perspective, to a certain period of time, it has reflected this overall negative view about the market. So for H1 of this year, and I think...
So it has already got about CNY 800-CNY 1,000 for the unit price. It's actually quite a big slump. And for H2 this year, our preliminary judgment is we could have this a certain rebound. However, for this positive market trend, it's actually quite hard to be got. And then for this later of the time, we would like to see that what is the support of that? If it has this a certain, lifting of these restrictions, we will definitely have some like, positive trends. However, for our preliminary, judgment, it's actually like a quite low momentum of the growth. That's all for me. Thank you so much for your question. Okay, thank you.
Thank you, all the leaders. Thank you so much for your answers.
Oh, now, Madame-- Mr. Wang, do you have some more questions?...No more. Thank you.
Thank you. Okay, thank you so much for the answers from the leadership. And now we will have this one question. The first one is congratulate you on all this disclosed, like, this ranking as the second one next, only next to Shenhua. So for this dividend, the information is actually closely related to this stock one. So China Coal, for this balance sheet is all like being very good. So we have about this debt has lowered to about CNY 80 billion. So for Shenhua, Sanmei, and Yankuang so for this dividends are all like being maintained at 60%. So I think if we could improve this dividend ratio, you could actually have better evaluation for our stock price. So do you have this kind of consideration to follow suit?
So welcome all the leaders for your questions, and thank you so much, because for this, first, we will definitely have this very good consideration. We will take it seriously. So for the dividend issuance, we have the benchmark, like, Mr. Chai has also mentioned. We also are like, having some constitutional parts of a different cash flow we have. So currently speaking, I think we will not have this very big change of that, and therefore, this annual dividend, we will have like a yearly dividend plan. For 2023, for this kind of situation, we will wait until next year's March for this annual report. When it is released, we will have that. Okay. Thank you. Thank you so much. We will just disclose that next year with this next annual report. So next question from this online is, for this...
the different coal industry, for this income, so does it mean like, for the different distributions of the different, areas of Chinese, assets, they will all be offset? So indeed, for this income of this, chemical cost, and, when we consolidate it, yes, it have been offset. So we can also see for the [audio distortion], it's about, CNY 4.832 billion. So for this, coal and, coal chemical, they have been offset. For the rest, yes, it's between them and the other part is about this construction, about this, coal, plant establishment. It have about CNY 1.7 billion.
Okay, got it. Thank you so much for the questions and answer. So the next question is, we have already seen that, you are doing this, thermal electricity bidding and tendering.
So how do you consider about this integrated, of, coal electricity, the thermal electricity for the listed company? How do you plan to have this thermal coal electricity projects?
So we can also see that, as he has said, for this, group, thermal integrated tendering and the bidding, and then we also have like, several different considerations. And then they concentrated on this cooperation within our own group. So we also have already seen that for this sales team, for this thermal electricity, for this area of the business, it's not like our major business. Maybe in the future, we will consider some other, like, partners cooperating with some other organizations to see the final situation of this implementation and this prerequisite of this implementation and investment. So comprehensively consider this future development based on all the things we have.
Okay, thank you so much for your answer. The next question is, with the calculation, we could have this, 2 Q's, sales price is about CNY 520. So for Q1 is about CNY 576, because for this, thermal cost, 80% are all about long-term price. However, this is with very big fluctuation. Can you tell me, like, when you have this year-over-year, significant decrease of the price of this thermal coal, why is that? Can you tell me why is that? Because 80% of that coming from this long-term agreement price, so why is it having this such big decline of the pri- We've already got the, question, but we are discussing who to answer that. We'll accept... Let's see that whether investors want to speak directly to our managers.
So if you want to propose a question, so for all those telephone participants, please first press star and one. For online participants, you can directly press that and then to type the word, and then you can also, like, have another speech question directly made by you if you press Raise Your Hand one. Okay, so now let's see that whether you could directly answer the question or you would first like to connect to this telephone questions? So what about we allow the leaders to prepare for the answer one more time? Oh, okay. Okay, we can directly answer that. Okay, so we will just have our sales colleague to answer that. Thank you so much for the question.
We were like, discussing, you mean it's about this price decline of the steam coal and about this mid and the long-term, like a contractual price, it is not in line with that. Are you asking that? I would like to double-confirm. Are you asking this question? So for this question, because, for China Coal, we directly stick to this SASAC requirement about the work, and then we also can see that, we also have, like, this, mid and the long-term agreement. We also have this small amount of this, on-stock sales. This is just about the surprise decline of this on-stock sales, and that led to that. And then thank you so much for the answer. Now, let's, have another question. So we will have 1683 to answer that.
So first, let us know who you are and what's your name.
Thank you so much. Hello, I am Shandong, [Procurement Fund Development]. I would like to know that you have added about CNY 2.9 billion, so we have about CNY 2.29 billion, so we have a CNY 690 million for this, entrance and allowance of that. Can you first talk about all those different mining rights separately?
Okay, thank you so much. And, for each one, as you said, for this right, we have added additional CNY 2 billion. So for this CNY 2.2 billion, is our like, new procurement, and it's about the national policy, according to this actual one, and we have confirmed that. And, this is about the overall stuff.
And then the next thing is we also have some other different ones, and this has already satisfied our confirmation condition, so we change it into the mining rights. We strictly stick to this national policy. So sorry, because the sound is not very clear, I cannot hear you clearly. Okay, so I will speak up a little bit. So just now, you have mentioned about this newly added ones. This is about our supply chain company. They have already got this newly acquired resources, and then according to this certain policies, according to that, we confirm them as mining rights, and then this is the evaluation. You mean, this is like this new mine being procured by you? You have newly acquired a mine. Yes, this is the new, like, resources. And okay, so you mean that for the mine?
Okay, so this is just about this prospect right of that. So now we have this new mining right. Am I right? So we can also see that we have already signed this agreement with this local government. Okay, we have already signed this agreement. And so we have already signed this agreement, and after this agreement being signed, we could have that. So for this, we have confirmed this as a right of mining, because we have this short-term agreement with this local government.
Okay, got it. And then, so the rest is also like for some agreements we have already signed, and this is just we didn't confirm that we already have a small amount. It's like owned by us, and now they have satisfied this confirmation and the transference of the right.
So we confirm them as this right of mining.
Okay, thank you. I got it. No more questions. Thank you so much.
Okay, thank you, the leadership, for that. Then I would like to have this 3585 to propose the question.
I am [audio distortion] Capital. So the previous question was me. So for this 2Q, for this thermal coal price, because I first would like to explain, and we've checked this compared with the previous quarter, because this Q2 last year, it was actually quite a messy price. So it's actually about CNY 576 . For Q2, it's about CNY 520 . We have about CNY 56 for this price fluctuation, because 80% is about the long-term one. So for Q1 to Q2, for the...
Only dropped by nine for this, 5500. So for the 20% of this market coal has led to this CNY 50 of that. So it means that it's calculated by about, like, a CNY 200 per ton for this average price decline. So like, multiply by 20%, you will have this. So I would like to know, this is quite, like, a big range.
We cannot hear them. Please wait a sec. They are preparing and to see how to answer your question. I have another added up question. Oh, please, please. So what about you first? So the price change, did you just have this kind of like a card, for example, for Q2? So you have disclosed this kind of like the number of the cards of all those outdoor mines compared with Q1, you have this decline.
For this, we cannot see that. We only can see it's about like a 5,500 or like a 4,500. Then for your competitors, they all have disclosed that they could have already got this all the, like, a number of the units being declined. Does it also have something to do with that? The first one is about this market price decline. So is it meaning that this number of the cars would also lead to this average price decline? Okay, so first of all, thank you so much for the question. I think you really pay a lot of attention to that. So for this price fluctuation, and then for how big is this, the market price? You have already calculated? Yes.
So for this, I have like this, transaction price I would like to share with you. So this is basically in line with that. For January, it's about CNY 1,200 on average. So February is CNY 1,100 . For March, is about CNY 1,130 . This is the Q1. And then this is about like around CNY 1,150 . This is the on average price. And then for April in Q2, and then the transaction price on average is about CNY 1,020 . So for May, it's about CNY 950 . So for June, it's about CNY 800 . Now, I haven't done the calculation, so we can also see on average. So if it has to reach about like a CNY 200 like of this steel price, yes, it's about like at least over CNY 100 .
Yes, it is compatible with your analysis. Thank you so much. You have detailedly calculated that for us. So maybe later, we also would like to learn from you. So for this aspect, we could do more considerations and reflections. Okay, thank you so much. So does it have something to do with the number of the cars, maybe for the average? So we can also see that you use like a 4,700 to calculate that. How do you like, calculate according to the specifications? And, we also have this kind of like, calculation method, and, this would also influence this in see the comprehensive one. And, this is also about this ordinary call. We have already disclosed that. Okay, thank you. Thank you so... So any other questions from you? Okay, now we will carry on, allowing another word written question.
The question is: I would like to ask Mr. Chai, whether you have this possibility of increased dividend per proportion. So for this, the market value is like a long-term wise, lower than this net asset, and how do you think about it? And then for this national government and this NDRC's requirement about it, how do you feel about it? For this dividend, after being listed, we have about 30% of the dividend ratio in the entire market. We think this is still quite good, quite high proportion.
The second thing for this dividend proportion have fully considered, because we have to, like, fully utilize our money and also satisfy the shareholders' demands, and then to also do more investment, and then we also could have, like, a better return, and then to have all the three different aspects to be done. Because for this, and, we also have fully considered our, like, our counterparts and the competitors in the market, and, this about this overall content, and we would also like to balance that to have this very scientific way of doing that. So I think now for the current one is like, for all this, dividend issuance, and we are following the market, we will also like, see how do we do this overall development and the return of this investment.
I think when we have this investor, the profit and interest better invested in the long-term development, we could have like a better dividend issuance in the future, right? So because of all the reasons, but generally speaking, for our current dividend ratio, I think we are still following the market. For the second one, as you said, I have already paid attention to that, because now the market price and the market value, and for this comparison, and indeed, we also can see that we have about this constant deepening and optimization of this asset. One is about profitability is constantly on the rise. So I think we would definitely like, have better, like, a share price. This is what we can do, and, we will try to do it and try to improve that.
The other thing is, we also have seen that for some different expansions, I welcome you. Maybe you could just help us more, both online and offline, or we have some discussions. We could just research, and we also hope that we could have this long-term development, have this a better payback, and we also will do that. And so we also hope that this is the second thing. And the third thing is... The third thing, and we also can say that maybe you could feel that for H1 this year, compared with H1 last year, and for this profitability and the revenue have all been lowered. However, you can also see that we have also done some further investment for H1 last year, and we also have this very good, like, CAGR. So it has also already shown our competence.
And, we also can see for this price of the coal, we cannot control that. However, we have to rationally treat that and evaluate that. And we have also seen that we have already stressed about, like, the raw material and the price. So for this, I think from this aspect, I would like to know that we still should be very positive. So for H1 this year, we have already seen this very reasonable decline of this too high, overly high coal price, and then it has also played a very good role of that. So we also can see that for H1 last year, compared with H1 last year and for this year, we also feel that this is facilitating our long-term development. So from here, we will also have this continuous growth and this positive growth.
So although this background and environment is being restricted, and we also could like have a better development. I don't know whether I have fully answered your question or not. Thank you. Okay, thank you so much for this leaders. Answering the next question is, for this 2022, for this CNY 6 billion of the rights of the mining, we have this kind of similar situation for this kind of provision, for this accrual. Do you do this timely disclosure, so you cannot have this very effective communication with small and medium-sized stakeholders and shareholders? How would you improve that? So for last few years, we continuously strengthen our like lean management. And then, as you said, we have this like knowledge, we have done this provision. You have also said that.
For this quality of this asset is definitely being consolidated all the time. Then we also can see that this has definitely got this high-quality development. For this, bad quality of the asset, we do this provision for impairment. Yes, and whether from the financial perspective, this is definitely we need to, to be done continuously. Then in the future, for this target, we pay more attention to that, whether we do this impairment or not. Maybe for the end of this year, I don't know whether we have that or not. We still have to depend on this overall H2 operation situation, and we constantly, like, pay attention to the government, to, the departments. If we have a certain similar, requirement and policies, we will do this impairment test.
If it is required, we will do that, but now I will not, like, give you a confirmed answer, is yes or no. I cannot answer that. I have something to add here. It's about like, the financial colleague has already given a very clear answer. We could do this impairment according to the rules and regulations, and then we could do this impairment test to do it in appropriate time. We also will do some, like, different time and situation, and we will also do a very timely communication and disclosure with you. So please rest assured. Thank you. Please don't worry. Okay, thank you so much for all the leaders. Now let's have 6461 to propose the question. First, tell us what's your name and where are you from?
Hello, all the leaders. I am a personal investor.
I also pay attention to China Coal for a long period of time, and I have a question. I would like to know, because for H1 this year, for this coal product cost, YoY, it has dropped by 7.6%, and this is actually quite well done among the competitors. For most of the companies, for their, like, single unit cost, they are on the rise. So I would like to hear from your breakdown of the analysis. So for this single unit cost reduction, so from 308.7 to drop to this 200-something. So where are they mainly from? So which are the aspects contributing to this lowering?
Is this about this improvement of this overall capacity, and then to made to this, single, cost, and then it has led to some other different directions or from the financial perspective, to lead to this big cost reduction? Can you elaborate on that? I would like to answer for that. So thank you so much for the question. For this, overall year-over-year decline, indeed, we have already seen like, for this growth, so this fixed cost would be lowered on average. And the next thing is as a company, and, we could also see, we have this optimization, and, we also have some like a procurement, like a volume-based procurement, and then to lower our cost is actually very stable. So the next thing is, we also can see that we also have some different project with that adjustments.
And for like our project and for H1 this year, we indeed have lowered this, newly added, profit, so this has lowered to this one-time investment. And, we also can see that compared with several years ago, and, for this year, we have already got this overall leadership. So I think this is a guaranteeing that... So we could guarantee this overall projects will be rolled out, and to a certain period of time, we could find that later. We can do that until now. This is actually very well, processed, and, this is like for us to have a better cost. And then the next thing, for our delivery, because a lot of our investment of this, manufacturing, and, this is also about, like, for example, they could have this overall adjustment.
And then the next thing is they could be reduced for this non necessary expenditure. So that's the information. So we also can see that we also have some impairment, and we are like hoping to have this lower contracts of that. And then we also have this policy of this Ministry of Finance, and it has expanded this certain threshold. And then for like July and August, we could also have like a better like have about CNY 20 less. Okay, got it. So we also can see that. And we also can see that for all the different resources, and indeed, we don't have like the space of doing that, and for the management and for the cost stuff. So we also can see for all this management. Okay, got it.
Got it. Okay, I still have another question. That is because recently... I would also like to know more, because for this coal chemical and, for L1, it's actually quite low. I have also read that for this newly added one, so maybe for this newly added projects, in principle, they will not do this disclosure. I also would like to know that for the information you have for the future and how many coal chemical projects, how many you have for our in-house investment. So this is, like, what is this, like, proportion of your, like, self-owned ones? So what is the loan? So do you have like a preferential and, better interest rate of all those loans you get? So for this, this is about like, Mr. Wang, from this, coal chemical industry to control that.
Because for this, question you proposed, and we also can see for this, coal chemical aspect, this is a very important business of our group. For this early stages, we have like the early stage of the operation. So now we are also considering some like, for example, it's about, polyolefin. So we also can see, we hope to have this, complete construction, and, we also have already considered for all this, coal to generate to this hydrogen, to have this, polyolefin. And what do we need to do with that? We are still considering that. Thank you. Thank you so much. You don't have like, new projects in plan for this, chemical aspect? So for coal chemical, now, we don't have a lot of ones.
We only have, like, a Shaanxi Yulin for this polyolefin deep integration ones. For this future projects, we still don't have this condition to do that. If we have this condition to be this close with everybody, we will do that. Okay, just now, I still have another question, is because I actually hope to know that what is the loan and what's the situation and what is the interest rate that you have? And I hope that you can explain to us? And we also can see that this is a 70% for loans. So currently, this is the market interest rate we have from the banks. And now for this chemical ones, so for this very good projects, for this overall, like, financing cost is quite low.
For the current one, is about 3%, and this is in line with this national LPR one-year interest rate. So this is what we have. Okay, thank you. That's all. Thank you so much. For the leaders, thank you so much. Thank you so much. And, now let's have another written question. This is like, currently speaking for the thermal coal supplies increase you have observed, and then whether it will be, like, released gradually. Okay. So we will first talk about this capacity release, because at first, and, we have already heard some, like, a guarantee of the supply, and, for some capacity of the coal mines have already been released. And then, for this release of the future, it will not be too big, and this is about this, core productivity, to be released.
So that's all I want to say. Thank you. We will not release too much. Okay, next question is for all the leaders. Currently, you have about CNY 90 billion on your book in your account. So how much money is actually savings from other companies? Thank you. We will have Madame Xu from finance to answer that. And I would like to say that for the current is about CNY 93.7 billion around that, and we have about CNY 24 billion is from savings from other companies. Can you hear that? And we have about CNY 24 billion for this savings. Okay, thank you. So the next question is... We would like to have two questions from the leaders. The first one is, how do you think about the trend and what is that?
So we also could see for all those, different, like, calculation and et cetera, how do you think about that? So the first question, and, about the price, I also would like to say that for all these and for this sales ones, and we don't do that, and we don't do this, expectation. So for the future, this is about, like, this income and business, and, this is about this corresponding, supply chain, and, for this timely, like... I hope that you could stay tuned if it's for the future adjustments. Okay, thank you so much. So the next question: for 2023, for the cost of that, this is about CNY 285. It has this YoY decrease. However, for that, it's about, CNY 272 billion.
So for this, the scale effect, it doesn't lower the cost of this self-produced cost. Can you give me a very reasonable and detailed explanation for 2023, how do you change the cost? Or you could also give me a range of this expectation. Thank you. Okay, indeed, as you said. So we also can see that. For Q4, and based on this quarterly manner, and we also can see for Q2, compared with that, we have this increase. And for this cost management, and it doesn't give full play to this scale effect, I would like to explain. And then for you mentioned, it's about this Dahaiz e, and this is about this high efficiency and high productivity one. This is far lower than our cost. It's far lower than our average one.
So for Dahaize, so since the end of 2011, we started to do that for 2022, and we have already got this annual one. And for 2023, for the two year, if you do that for the cost of Dahaize, maybe we also have this slight decline of that. However, it doesn't have this overall big decline of the cost. I don't know whether you could understand or not, if I explain like this. Okay, thank you. So the next question: Do you have this possible, like, a capital investment from this group? According to our understanding, I don't have that in plan. If I have that, I will disclose as soon as possible. So I have two questions. The first one is for this cost per ton is about CNY 285.
It actually dropped by 7.6%. So for this, outdoor one, it has also lowered this consumption of this materials. Can you explain for that? And then what is this expectation of that? And then the next thing is, we have this, obvious CapEx to be declined. Do you also hope to have, like, a bigger impairment of H2? Do you have this bigger impairment CapEx plan? Hello, because in Q2, for H1 and, for this, material one, it's actually down by CNY 1.28 billion. And then we can also see that for this, outdoor profit is lowered, and then for the materials, it's actually being lowered as well. So for this, the material cost is also lowered. This is the first question. What's the second question? And then it's about CapEx, for H2's CapEx.
Just now we have already explained for CapEx, for this year, for so many years, we continuously like having this high quality of management. So for this low efficiency and the low revenue of this quality of asset is very good, and it's being consolidated all the time. So from our revenue and operation, you can also see from there. Then you can see that for H2, whether we do this CapEx, indeed, for asset, it will be do with the continuous one, and then we do this analysis to see whether we have this impairment or something. This is a continuous one, so we will still do this continuous impairment.
And then, so we also can see that this is also like paying a lot of attention to that, to see that whether they have some, like, continuous ones, and then we will also follow that continuously to see that whether we would have some assets to be impaired or not. If we still have the signs, we will still do that according to the requirement to do the test. If it's according to the test, and we have like specific different conditions, we would also deal with that. However, we also have already seen that if they have this kind of situation of this impairment, we will definitely tell you in advance to disclose them, so to do this timely disclosure. Okay, that's all for me. Thank you. Okay, thank you.
The next question is, I would like to ask for this, Pingshuo outdoor mine, is it stable? We don't have too big change. Thank you. No big change. Okay, thank you. The next question is for 2Q, for the cost, for other costs, it has significant increase. For this, single ton is about CNY 54.5. So for 1Q is about CNY 33.8. Can you explain the details? Thank you. Okay, so for 2Q cost?... Hello. For Q2, for the cost, and, I have already uploaded there, so it has some other different ones. And, I also have already said that in Q2, it's actually higher than Q1. It will be reflected also by like water treatment or something. They have all been added here, so it's slightly higher. Okay, thank you. So the next question is about a financial company.
Do you have invested in other trust products? Do you have some investment risks? Please answer that. So for this, I would like to have our financial department since establishment. We don't do any external risk investment. We only do some, like, self-owned loan or in our own system, we do this, industrial investment. We don't do any of these. So we continuously, we are investing our own businesses, so please rest assured. So the next question is, I would like to know that, for the current manufacturing, how is that? What is the annual production? Can you answer that for us? Thank you. So thank you so much for the question. And this is about, 1.1 million, and then we hope to like realize more than 0.5 million.
For H2, basically, we could still realize the previous plan, and, for example, we don't have some big changes. Thank you. So the next question is, you can also see that the price is having this significant price decline for methanol, why the production cost is significantly improved? Thank you. Please answer that for me. Can you answer that? So for this methanol cost, there are two different reasons. The first one is for this cut, the revenue is actually lowered, so for this by-product, income is lowered and then it has led to our higher ones. Then the next thing is, we have this raw material, and for this procurement price is also on the rise. So these are the two reasons. Thank you. So the next question is actually about...
So how much is actually sold by this Zhongmei Huajin? What are sold by this Shanghai Energy? And why the sales of the coal have all been attributed to this, the thermal coal, and therefore this coking coal is actually zero. Why is that? So the first one is about like the kind of that, because this is actually between this coking and the thermal one, and this is also like classified, this is thermal coal. So we do it like that according to the demand in this local market. Thank you. Okay, thank you so much. So the next question is, for this self-produced coal, it has stopped for the sales for a long time. So can you also, like, let me know that how many years can it have this stable operation? For how many years? Please answer that.
So for this Pingshuo's coal, and this is our major coal base, and we have about, like more than 10 years for the stable production. And so for all the different coals, it's like not much left, and then we could use it for about, like, 10 years. Thank you. Okay, thank you. Now let's tell them another way of proposing questions to see are there some different questions from the investors? So if you want to propose the questions, please first press star, and then press 1, and then for this, online investors, you can press... Raise your hand to raise a question. Hello, if you want to propose a question, please first press star, and you could also have this word question, or you could press this, raise a hand to propose a question.
Now let's have 8837 to answer your question. Please first tell us where are you from and what's your name? And so for this Pingshuo, I would like to ask for this, for the year is, for this remaining, like the calorie [count], how would it be changed? So for this Pingshuo, the coal, for the change, it will not have too big change because for this, coal bed, it will not change too much. Okay, thank you. For the calorie count, it will not have too much change. Do you have some more questions? No more. No more questions. Thank you. Now let's have another investor with the phone number ending with 9762 to answer that.
So hello, I am [audio distortion] .
I would like to probe the previous question is about the cost and coal chemical. Yes, I can hear you. And just now for this coal price, previously, we also have some questions being proposed. I would still like to ask that because what we have seen is, for H1, for this thermal coal, it has declined by 14%, and then the market price is also down by 13%. If we say it's about like 80% of that, and then we could also see that why is that? Why it would like to have this kind of, like the same kind of reduction with this stock price? I would also like to know that whether you could check this structure to give us a more detailed explanation. The second one, you have already, like, answered a lot of...
So wait, wait, wait, wait, wait, wait a sec, please. Sorry. So first, like, you have so many questions, we still have to separate and then to first answer your first question, okay? So please answer the first question. So about this, the price of this, thermal coal and about the change, right? So I have already explained, and we also could see that for all the different, like, cost, and then we actually still have this, a better focus on this, thermal coal and, for that. So we could also see that for... All this, like, price is actually having this a big structure. So this is about the structure leading to this, cost, reduction. And, this is basically stable. And then we also can see that for our company, and on the one hand...
So we also can see that if our price is actually including everything, and of course, this is like on the one hand, this is about like the price, and, we could also see that, for all those, profit or something, and then about the price is actually following that. And then the next thing is we also have some, like, market fluctuation, so we just follow the market fluctuation with this, price changed. I don't know whether I have explained this or not. So this is our Pingshuo mine, and for this, thermal coal. The price is actually following the market. Okay, thank you. So thank you. You first, have answered that because of Pingshuo's profit is actually on the rise.
So the second question is, you all have talked about this, cost, like a breakdown, and then you have already said from this year-round perspective, how would the cost change compared with last year from a whole year perspective? We also can see that, first of all, it's about this production, and we could have this effective control. The second thing is, for this, cost change, and, we also could see that. If you could just control that, and we could definitely like, help. Then this is like a half a year. Basically, this could already been all done, and then maybe for another period of time, we could control that. For example, we could also like, have some different cooperation, and then we also can have.
So this could actually better, like, give full play to the efficiency and then to guarantee this, level and then to protect that. And I think we could have this, better, so maybe we cannot... For example, for next year, we also have, like, some other objective thing. It's not like for our overall work to do that. And, maybe... So, and for last year, for all the work, we have to do that, and, to have this scientific calculation. Okay, thank you. Thank you so much. I don't have any more. Thank you. So the next one is a written one. We have seen that, we have like, CNY 86 billion-CNY 78 billion, so the debt rate is lowered. Congratulations. And you all have mentioned about 50% of that is quite reasonable.
However, you can also see that this is not very reasonable, and then you can also see that you have about CNY 92.7 billion, and then whether it's true and then not restricted in the future, will you just lower the debt rate? So for the debt rate, and this is quite reasonable. Indeed, for this overall, like, separated management, and we can also see that for all those done in an orderly way, and if this is like lower the debt rate, but it's not in an orderly manner, and this is actually not a very sustainable one. And then the next thing. So we could also, like, see that, how do we promote that? So we can also see that whether we could have this overall staff and, including all the different deposits and, for, for all those storage.
Theoretically, they could all be seen. With that, so another thing is. So the first thing is. So it's about this, it's about over 20 million. And we also could see that, for the biggest one is, the second thing is, we have also mentioned about this overall real estate market. It could also have, like, this debt we had in the early stage. So if we do that, and then for this year, for this 6/30 to another year of the 6/30, we have some other, like, a debt to be repaid with interest. So for the debt, is to guarantee that for this cash flow is super for next year's payment. And then we have, like, this big CapEx. These are just within our plan. Maybe in the future, we also could have some others.
For all these, you can also see that because in the future we could have some more, and then we could still guarantee about like CNY 10 billion on the prerequisites. We could guarantee to at least to have about CNY 60 billion. Previously, if we could all have that, and maybe for all these different ones. So the next thing is, we could guarantee about the logic. So with the logic there, maybe including for our patients, we could guarantee about our overall project. On the one hand, we have the cash flow. For about CNY 11 million, and I have about, like, one-third. I still have about CNY 4 billion, and these are all, like, a small amount, so this is all the efforts we have done. You have to admit that it is like that.
We also can see this is what I don't agree, that we should just for the sake of lowering of the debt rate, and then to do that. So the next question is about this revenue and the profit have all been lowered. However, for the expense, have all been increased. It's actually a very big increase of the sales and expense, and it is not in line with that. So for this management of this payment and the salary, is this, like, increasing too fast? So for the sales expense, it's on the rise. It is increased by CNY 180 million. It's mainly about, like, some sales related to that, and this is also having something to do with that. So we also have seen that for that, because this is actually quite limited.
Comparatively speaking, for this year, this is still on the rise, and then this is about this, sales expense. So for the rest of this other different cost increase, we have several ones, because we have this increase of this salary. This is just like a one part, but not a major part. Another thing is for 2022 Q4, we have procured some companies, so we have already consolidated them. This is another one, and then this is actually compared with H1 last year. This is also another increase. And the next thing is about we have calculated some periodical ones. So for this, two years of the management fee are all on the rise. That's all. Thank you. Thank you for all the interaction and for the questions.
That's all for today, and I would like to know that are there something you want to add? Are there anything... I would like to do a—I think for here, you all know that I would have to have a clarification. So for this, preparation of the meeting, if you come here and, since 2016 until now, so one is about the steel, one is about coal. So their requirement is actually to eliminate this, quite lag behind and not advanced asset and strategy. And, we also have already shut down some different low efficiency and high safety risk ones. And then this is still, like, with a very high demand. So we also can see that with that, we also could see if we have some different costs, and, we didn't eliminate them. Maybe we still need to just do that.
However, with this national government policy, we could just consolidate them. And then we also can see, like, we also have some different attention given, and, for example, we also have some other different cost reduction, et cetera. So we could definitely have this orderly development to promote that. However, we could guarantee that over, like, 15 years, maybe for this previous CNY 10,000 , it could be lowered. And then for this policy influence, we have to consider that. We cannot say that, maybe it does not mean that we could, like, hold that. Maybe after 15 years later, we just do that. Maybe time efficiency is also what we need to consider. And then we also need to consider, like, for some other different situations, it is different.
So this is what we hope that we could see all the documents disclosed by us. And we also can say that for a, like a company with a CNY 34 billion, this is still, like, about some different experiences. And then if I don't pay any attention to that, and then I just manage like that, the other thing is, in the future, maybe we could also say that with this national policy, if we don't have any big change compared with we have now, with this current policy direction, we will not have too big changes. However, we definitely need to have all kinds of different staff, and that's a guarantee that for all the time to be condensed and then to have the target be in line with the national strategy.
I also hope that you could also scientifically and rationally deal with all the data and our development. So thank you. Thank you for the conclusion, and thank you for all the participation because of the limited time. We haven't got all of you answered, and I also hope that you could contact with our securities and public relations department for the further answering. That's all for today's session. Thank you.
Thank you so much. That's all for today. Thank you. Wish you all the best. Bye-bye.