Hello, everybody. All the participants are silent. Now I'm going to read the announcement. This is faced with all the different investors. We remind all the investors to be careful when you do the investment, and you have to take care of the time. All the distinguished investors and shareholders, good afternoon. I'm Zhang Qing, the Board Secretary of China Coal. Welcome you to this company's performance press release in Q1 in 2023. I sincerely thank you for the long-term concern and care. Today we have with us is the CFO, Mr. Chai Qiaolin , and responsible persons of the company, the Security Affairs Department, and all the different colleagues from the coal sales center, chemical products, et cetera. Now I'm going to share with you the company's performance in Q1.
Unless otherwise specified, the following data are articulated according to Chinese Accounting Standards. Since this year, the company has conscientiously implemented the decisions and arrangements made by the CPC Central Committee and the State Council and the State-owned Assets Supervision and Administration Commission, adhered to the general tone of striving for progress while maintaining stability, scientifically organized the production and sales, paid close attention to improving the quality and efficiency, strengthened the implementation of plans, to achieve this stable opening and a good start of Q1. Now I'm going to talk about this main operation data. Coal production and sales volume. The output of commercial coal was 33.3 million tons, an increase over 2.81 million tons or 9.2% YOY.
The sales volume of commercial coal was CNY 74.77 million, an increase of CNY 5.2 million or 7.5%. Among them, the sales volume of self-produced coal was 32.57 million tons, YOY increase of 5.7%. Bought-out trade coal sales reached CNY 39.31 million, up by 5.7%. The sales volume of agent coal was CNY 2.89 million, up by 85.3%. About selling price, the average selling price of self-produced commercial coal is CNY 671 per ton, YOY decrease of CNY 56 per ton by 7.7%. The average selling price of Bought-out trade coal is CNY 735 per ton, down by 12.4%.
The cost of coal products, the unit sales cost of the company's self-produced commercial coal is down by 12.9%, YOY decrease of CNY 40.5 per ton, reaching CNY 272.55. For the production and sales of major coal chemical products, polyolefin production was 378,000 tons, up 2.4% YOY. Sales volume was 365,000 tons, up 10.9% YOY. Urea output was 479,000 tons, up by 0.4% YOY. Sales volume was 645,000 tons, up 7.9%. Methanol output was 499 tons, down 1.2%. 5 is the major selling points of main coal chemical products.
The sales price of polyolefin is 7,056 yuan per ton, down by 8.4%. Sales price of urea was 2,718 yuan per ton, increase of 4.7%. The sales price of methanol was 1,832 yuan per ton. The sales price of ammonium nitrate was 2,459 yuan per ton, year-over-year down by 10%. The cost of the main coal chemical products, the unit sales cost of polyolefin products is 6,556 yuan, a year-over-year decrease of 1.2%. Unit sales price of urea is at 1,837 yuan per ton, up by 7.2%.
The unit sales cost of methanol was CNY 2,130, up by 1.6%. Unit sales cost of ammonium nitrate was up by 5.2%. The equipment business. We have achieved the output value of mine. Equipment was CNY 3.05 billion, up 17.3%. Financial business. After deducting the distributed transactions, the operation income was CNY 427 million, increased by 2.2%. The other business conditions mainly include electric, power, aluminum, processing equipment and accessories import. After deducting all the distributed transactions, the operating income was CNY 2.076 billion. The second part is about the main financial indicators. In Q1, China Coal achieved operating income of CNY 59.2 billion.
Total profit was CNY 12 billion. The net profit attributed to the shareholders of the listed company was CNY 7.2 billion, a YOY increase of 5.3%. The basic earning per share was CNY 0.54, a YOY increase of 5.9%. The weighted average return on equity was 5.32%. A YOY decrease of 0.44 percentage points. The asset liability ratio was 49.9%, down by 1.6%. The main profit increasing factors are the unit sales cost of a self-produced commercial coal is reduced and the profit is increased by CNY 1.282 billion. The sales volume of self-produced commercial coal increased by CNY 729 million.
The power generating and heat business increased the profit by CNY 312 million. The financial expense decreases by CNY 4.5 billion. Investment income decreased by CNY 281 million. The taxes and surcharges increased by CNY 271 million. The major coal chemical enterprises reduced their profit by CNY 101 million. The third is about cash flow. In Q1, the company's net cash inflow was CNY 11.098 billion, up by CNY 1.128 billion. These are all the situation about the operation in Q1. Now I'm talking about the Q2 key work arrangements. In Q2, the company will fully implement the goal of one profit and five rates of SASAC and strive to achieve effective improvement in quality and reasonable growth.
First, the scientific and reasonable organization of production to ensure the completion of production targets. The second is intensify the marketing efforts and strive to stabilize the sales and anchoring the goal of zero loss. Fourth, to further promote quality improvement and efficiency improvement and further strengthen refined management. The fifth is about continue to deepen the enterprise reform and constantly stimulate the vitality. Sixth, comprehensively strengthen the implementation of the plan and accelerate the keyword. Seventh, adhere to this innovation-driven development. Eighth, continuously improve the compliance system and stick to the bottom line of legal operation. In H2, we actually have this vigorous task of steady growth and the management and all the colleagues of the company will overcome all the difficulties and make persistent efforts to build a world-class energy enterprise and give back to all the shareholders.
That's all for me. Now let's enter the Q&A session. Welcome you for all the questions. Thank you.
Thank you so much for the sharing. We will first have this telephone question raisers. For this internet ones, and you have to wait. Hello, everybody. If you want to raise a question, please first press star and then press one. For this internet participants, you can just type in by words, or you can just use the button of hand raising to raise the question. We will first have the questions being read. Okay? Now let's just read all these, the online questions. There's one investor asking about like a Q1 for this for this coking coal. What is the reason why the production quantity is being lowered? I cannot hear them very well.
I'm sorry. Let's see the second question. Why methanol is actually the sales quantity is actually up. However, the income is not very increased. You also can see. It has little to do with that. You can see that, some telephone questions here. We will have 6461 to raise a question. `
Hello, everybody. I am from Huayao. I would like to ask the question because for this previous speech made by the leaders, it's not very good. I don't know. It's actually for this coking coal. For the kinetic coal, and, I wanna know that for this coking coal, what is the reason why it is actually being lowered? What is the main reason why the production is lowered?
The second one is currently for this entire coke price, for this market price, it has been lowered a lot. I would also like to know that currently for the future 2023 trend of this coke price and for the influence of the overall profit this year, can you give us a simple prospect of that?
For Mr. Zheng, we will invite him to talk about that. For the price, we will also have some other colleagues to answer that. For the production of coke, it has this YOY decrease. There are actually two mines. Because of their two coal mines influences, the production quantity has been lowered and about price. Now let's welcome another one. Good afternoon. For coke price, you can see that in Q1.
For coke is actually fluctuating and then going downward. The pace is also quite fast, and it's actually underconfident for this market. With this, for cokes, currently it's actually hard for us to see this, like, a very obvious support for the price to go up. Because of Q2, for this overall economic policy stimulation, and for the significant projects will also be increased. Maybe for some, like a low stock and for the demand from this, coke steel companies, they may have this peak of demand, and then they may also have this bottom out because of this increase of the demand. We are also waiting for the afterwards macroeconomic policy and the economic stimulation to see the afterwards results. Okay, got it. The next to see is for...
You can also see that Australian coal has been permitted to be exported to China. For this influence for us, have you got this evaluation for this import, how much they would influence us? For this overall cokes market, it's still actually a very rare product in the market. Although you can see for this steel companies, they are still maintaining this like a very limited profit and then also even sometimes losing money, so they have the pressure of increasing the efficiency. However, cokes is still a very rare product in China, domestically, especially they have this very big space of growth in the market. For the current sales, it's still quite good. Our profitability, I still think it's still quite promising. For import, what is the situation from Australia?
The impact proposed by the Australian one. For Q1, it's still like having a big fluctuation, we also can see it doesn't have a very big impact. For the current demand is still quite big. Okay, got it. There's another question. Previously we have just got a report. We have about CNY 20 billion of the investment. I would like to know that actually for such a large amount of investment, what is the concern? The last meeting, we say that about this dividend issuance is actually about 30%. We may have a very big CapEx in the future. For our asset liability, can you share with us what do you want to keep your asset liability ratio? For central enterprises, they also have some requirements and the KPI regarding that.
For this, lower our asset liability ratio and to increase our ROE, what is the overall thing that we want to do to improve this? Can you share with us? You mean that actually for the current investment disclosure is in Shaanxi, Yulin for this phase two of this coal chemical industry. Now we have about 0.6 million tons of this coal chemical plant in Shaanxi, Yulin, and we have already got a very good ROE. For this investment in this phase two of Yulin project has already been this further extension of our long-term strategy of extending this supply chain to have this clean and highly efficient operation method of the company. This project has already been done for many years. It's just for the overall national documents.
This is also proposed by the central government General Secretary Mr. Xi's visit of Shanxi. This project has been proposed. It has utilized this mature project construction and experiences of that, and it has further expanded this scale of that. We hope to have about a 0.9 million tons of the equipment. We also hope to have a very good realization of that. This is the overall investment method. We also can see, we will have Miss Zhong to answer that. For our liability rate, it has already been lowered while it's maintaining a stable level. You also can see we have this very big CapEx. With this CapEx, we definitely would have about like a 56%-57% of this liability rate. We wouldn't say that because of the investment.
We will have this very big boost of our liability rate. The last question is, whether we have this kind of like stock ownership incentive, do you have any considerations of that? We hope that maybe you could refer to that because you can also see that for Tongya, they all have different ones. They have already started doing that. For some local SOEs have already started doing that. Thank you so much for your questions. That's all. Maybe later for this general meeting of stockholders, this AGM, maybe I will come and have another chat. Now let's have the next investor. Hello. Dear managers, I am from Guosen Securities . Since Q2, for this spot price of cokes, it's actually lowered significantly. For Q1, the price was about CNY 1,700.
For Q2 compared with Q1, what are the changes? We still have Mr. Dong to answer you the question. Ms. Dong to answer you the question. For this stock of this cokes, it's still being accumulated for this import coal. It's also like having this very big complement. We also can see, as I said before, with the overall macro policy, to have this stimulation and for this steel industry, for infrastructure, to have this new starting of the construction projects. We are still quite positive about the market. We think this is definitely going to bottom out. We are still quite positive about the market in the future. Okay, got it. I just want to know that because for this spot price since April, it has this significant decrease.
For Q1, the overall average price is still maintained at a high level. I don't know for Q2 compared with the Q1's average price. What is the change? What's the price difference? Just now, Madam Dong has already answered to you the question. We think for this price on average would go down. However, generally speaking, you may have this trend of the bottoming out. And for our price of this cokes, coal, it depends on this market demand. I have something to add. What you have paid attention to this production of this cokes production being lowered. Then in Q2, because of these two construction sites being finished, for this overall cokes will come to the normal level. It's just like the quarterly temporary change. For this annual target will not change.
Thank you. I have another question. For this kinetic coal, for the price, because I think that, for this year's Q1 is about CNY 576 Q1 price. For Q2 last year, it's about CNY 659 and CNY 660 for that. For the kinetic coal, it's actually mainly depending on this long, like long-term contracts, why the price fluctuation is still very big. Although it's based on this long-term contracts mainly. We will have Mr. Zhong from Financial Department. For kinetic coal, on one hand, it actually vulnerable to the market change. Second one, the price is actually including the freight price. For this two year, this freight price would also influence this average price. Thank you. That's all. Okay, thank you.
Now let's have 4772. We will first have him to share with us his name and where he's from. It's a she, sorry. I am Zhang Ji. I have several questions. The first one is, I would like to ask that for the afterwards coal mines, do we have some added ones? For the existing ones, do we have some new things? For this afterwards ones, and we will have our strategic plan department to do the answering. Now we are still preparing for that. It's about to be completed within this year. For Anjialing, it's about 5 million tons. We hope to complete that in 2025. We have already done this site surveying and inspection. For this future progress, we will keep you updated. Stay tuned.
The second question is, you can also see in Q1. For this, coal cost is lowered significantly. For Q1, the situation, will it have some increase or something? For Q1, the cost of this, coal products, I think these are some different changes. Then we will have this financial colleague to share with you. In Q1, compared with, before this price decreased about 12.9%, there are some objective reasons. The 1st one is a change of that to lead to this, freight, cost to be changed. Second one is about this new safety, production methods. They have already got this YOY increase of this cost for this safety manufacturing.
Except for these, They also have this Q1 of the lower demand. This has also led to this overall cost reduction in Q1. Annually, I think in Q1, the cost of control cannot be simply copied. In Q2 or even this entire year's one, you will have this moderate increase. Compared with last year, we still hope the cost will be lower. We will keep this general stability. The next one is we would like to ask about coal chemical industry. You can see for this coal chemical, the price is going up. However, for some cost for actually methanol, the cost is also rising significantly. In my imagination, for methanol, it should actually go together with this coal price. I didn't see this downward trend the same as the coal price.
Why is that? We still have Mr. Zhang to answer that. For the cost, you can see that, for this polyolefin, they have this synergy with another site being opened. For urea, because for urea's price range is actually fluctuating, the overall cost price is going down. Originally, maybe it is not in line with this overall average price. The second thing is for this urea, for this cost requirement is actually very demanding. It will also lead to this urea's cost to have this slight increase. Okay, got it. Looking into the future, do you think it will be similar with Q1 for this coal chemical cost? I think for Q1, except for this polyolefin, for methanol and urea, the price and the costs are still quite stable.
It still depends on this original situation and the overall market demand. The last question is about our traded coal, because last year for this traded coal, overall quantity is actually downward significantly because we now have some import. Do we have this significant increase of the traded coal? We can see from Q1, our current traded coal is still very stable. I should say that Q1 has already set the historical quarterly high. We have seized this business opportunity in the market. For this year, for traded coal, the scale is still like kept about the level of 100 million tons.
In the future, this year, we also still will seize this opportunity of this southeastern coastal area of this coal import, and then to establish this market and then to continue to guarantee the supply of our coast from the coastal area. Thank you. Thank you. That's all for my question. Thank you so much for the management team. Now let's have this telephone number ends with 8310 to raise the question. Please tell us who you are and where are you from. Hello, I'm CITIC Securities , Li Yu. I have several questions.
Hello. We cannot hear you. Her voice is a little bit on and off. Can you hear me normally? Yes, I can. Now is it okay? Now it's okay. Okay. I would like to ask that, for this KPI focus of our listed company, what are the KPI focuses?
What are the indicators? According to this SASAC's new requirement, so for all those companies owned by us, it's the same. Except for this, for coal's production and sales and safety production, we have some KPI-related evaluation related to our own major business area. Okay, got it. I have two other questions. The second question is this year, for this production plan of coal mainly coming from which mines? They mainly come from Dahaize. For this Dahaize's overall coal contribution. For Dahaize, for this year's plan is roughly at what level? We hope to have about a 14 million-15 million around this range. Okay, got it. The third question is?
I have already seen that Q1's self-produced coal is actually down by 7.7% YOY, and for traded coal, it's down by 12%. I want to know that for traded coal, is actually the price downward trend is even bigger than the self-producer one. Why is that? The thing is, you can also see for this year, for our self-produced coal is mainly supplying this long-term contract. It's a long-term contract price. For the mid and the long-term contract price, it has given full play to this anchoring of this market price. Comparatively speaking, it has always been maintained at a very stable level. From January to March for this average price is 726. Compared with last year, it's up by 3 RMB per ton.
Until May, now we actually are according to this mid and the long-term price, it's actually RMB 719. Compare with the same period of time last year, it's actually remained the same. This is the reason why we say that the long-term contract markets are quite stable. For market-based coal, you can also see for this market coal, it not only has reflected. It also has got these overall changes of that. Since last year, you can also see, from this COVID control and, for this coal mine accidents, for this spot price of coal has already got some fluctuations. From January to April, I think for this spot price of coking coal is about RMB 1,121. Compared to last year, the average price, it has down by RMB 60.
This is about 5.1% of the reduction. For April, the spot price is CNY 1,031 RMB. YOY, it has down by CNY 107 RMB. This is 9.4%. It has already down by CNY 200 yuan compare with the end of last year. This could also explain for our market coal for the sales, is actually following the trend in the market. Thank you so much. I have no more questions. Thank you. Now, we will have actually any more questions and to communicate with you. For this telephone participants, you can directly press star and one, or these online participants, you could raise your hands or type the questions in the chat box. We will have the question to be read online.
I'm going to read this online question. The voice is a little bit low. You could actually get closer and then everybody could hear better. Can you hear me? Yes, I can. The question is, for Q1, what is the overall performance of that? We will have the finance. For Q1, but because of the price is actually slightly lowered and we also have this overall influence, I think it has maintained this quite stable situation, although we have experienced a certain influences. Okay. Any more questions? If no question from the telephone end, I will keep reading. We don't have any more questions from the telephone, and now we will just invite to have this question read. We still, we got the feedback that the volume is a little bit low.
For this question is, please introduce the Xiaohuigou's production. This will have Mr. Liu Xiangping from the coal department to do the introduction. All the investors, hello. For Xiaohuigou's current situation, it's about accumulated production is about 3 million because of this geological influences, it's about 0.9 million tons a year for consecutive several years. For this, geological conditions cannot be overcome. For this production plan has always been very low for that. The first one is that. We also can see this is actually all the planned product 2023-2025, we expect about every year 0.9 million tons because of these geological difficulties. Okay. Do you have any more telephone questions?
We don't have any telephone questions, we will just have another round of announcement of this telephone question proposing. For telephone participants, if you want to participate and raise the question, you can just press star 1, or the online participants, feel free to raise your hand or type some more questions. Please just read the questions online. Now I'm going to read this online question. This investor says, "For this year, the major products, price of coal chemical products have already been seen significantly. We also have got this Yulin project of the coal chemical products. I want to know that how do you think about this coal chemical market and the price of the products?" Now let's have with us Mr. Wang from here. In 2023 is...
has been this significant year of this coal chemical market. This whole market is upon the influence of the demand, so the price has declining significantly. We expect that for this situation, it may last for a quite long time. For this year, actually, the fluctuation is huge. For latter half of this year, maybe. For urea is about 13-14 million tons, up by 8%. We also have about 10% for polyolefin. We expect. It would also go downward for the future. Could see this urea price is actually fluctuating, but going downward. For polyolefin, in a short period of time, for the profitability, we still have a limited space.
However, with this polyolefin market going to a higher quality and a higher portfolio, we expect for the mid and the long run, we still have a very good market prospect. Okay, I will read another question from the internet. This question is actually, with this central enterprises got listed and then to have this deepening of the reform to solve this same industry competition has already been a key. We also can see like a company A and company B have already cleaned and assessed their asset. You can see for your company currently, the cash flow on your book is very abundant. Do you also hope to buy over some high quality coal mines and then to solve this competition within the same industry? Thank you so much for the question.
First of all, for the company, we highly pay attention to this competition and our shareholder is also considering this horizontal competition significantly. Currently, we haven't got a very accurate disclosed timeline. However, we will conscientiously implement the related work to reduce this horizontal competition. I have another question from the internet. The internet saying that for Dahaize Coal Mine Phase II, do you have this specific starting point of the construction and the production? For Dahaize Phase II, we are doing this early stage of preparation, and we are still getting the approval and all the series of the procedures and all the preparation work.
We haven't got a confirmed date of the starting of the project, we really are working hard to try to start it as soon as possible. That's it. Thank you. We wanna see that any questions from the telephone line. We will have 1683 to share with us your name and where you're from. Hello, I'm from Shandong Railway Development, Jo Yunkun. I wanna know that for this partner of a corporation, you have used which technology from which company? Is this still this Dalian's one? I will have our Mr. Wang to answer this. Yes. The answer is yes. Yes, we still use this original technology you have asked. My understanding is actually for Dalian, Coal Chemical Institute has already been like a globally leading. Do you have some afterwards with Dalian Chemical Industry?
Do you have some deeper cooperation, including like Hengshun Coal Chemical Technology has also been very well. Do you also have some different cooperation plans with this Dalian Chemical Institute? First of all, we have maintained a quite close cooperation with Dalian Chemical Institute. In the future about this new energy development for our chloramine is also being implemented. Based on our next step of business development, we will consider future cooperation with Dalian Chemical Research Institute. Thank you. Now let's read another round of the way to propose questions. Hello, everybody. If you want to raise questions, please first press star and 1 on the telephone line. For online participants, you could also type in the questions in this live streaming chat box, or you could press the button of Raise Your Hand.
Please read another question. We don't have any online questions. Now I'm going to read another question from the online participant. This participant says that for Shanxi Yulin deep cooperation project, is this actually going together with Dahaize Phase II? For self-produced coal production, it takes what %? We expect how long we will realize the target. We will have Mr. Wang to answer the question. For Yulin Phase II, for this deep processing, it's actually implementing the strategy of our group. We hope to have this differentiating and premium level of coal chemical products. We hope to have this integrated, synergize the development as one important project. Previously, for this raw material coal, we definitely have used this Dahaize's coal, this self-produced one. I have something to add here.
The previous investors have talked about the Dahaize Phase II. I have to tell you that now it's about 15 million tons. Dahaize Phase II, we will expand the production to about 20 million tons. We think it still requires a certain time to realize that. Then when it reaches 20 million tons for Dahaize Phase I, it's already like almost 20 million tons. For September, we will just realize this approval and assessment. For Phase I and Phase II, that's to clarify the concept. For September this year, Dahaize will have about 20 million tons. For Dahaize Jingqian, for this future capacity increase, we haven't mentioned the specific discussion and specific timeline have not been stipulated yet. We have no more telephone questions. For Madam Yan Xi, you could just keep reading the questions.
There's an investor asking that for Q1, for the cost is significantly reduced for China Coal. Can you break it down? Why is that? First of all, the product structure has been changed, so the freight fee has been reduced. Second one, about this new management method about the safety production. It has also led to this additional cost of the management. You also can see that for this material and the labor costs have also been lowered because of this nonstop production. For the maintenance fee has also been reduced. Okay, got it. Mr. Zhong, thank you. Now there's another question from the online participants. This investor says Q1 2023 for new energy, how do you think about the market and for this new energy market prospect in the future? We will have this New Energy Department, Mr. Chen, for 2023 Q1.
Sorry. Actually the volume is actually quite low, so maybe it's hard for the interpreter to interpret. Wait a sec. Now let's adjust the microphone. With Wufeng and Weifeng, it has already been seen significantly. We also have this overall, like 61 hours. For solar energy, because of this solar energy is about 303 hours. It's up by 3 hours compared with last year. This is the Q1 because of this no wind or like a little wind situation. The solar energy is not very good. From the overall market situation, we will just stick to this green energy transformation.
For PV and solar energy, we'll have this as a significant development. We expect that for this new installation, for this non-fossil fuel and electricity generation, we'll have a faster speed, very fast speed. This is how I wanna answer that. Now let's have the host to propose the question of telephone line and for online staff. Now, I would like to say that if you wanna propose questions for telephone line participants, first press star and then press 1. For online participants, you could directly type the questions in written format, or you could press the hand icon to propose a question. No question from the telephone line. We will just end today's meeting. Thank you. Thank you all the participants. Thank you all for the participants and investors.
I hope you could keep a close eye on China Co. If there are some future questions that you haven't got the chance to answer, you could still contact us and to have our department of investor's relationship to contact it with you, because we actually have another viewing, and it's actually the repeated question, we would not just take your time to just read all the questions. If you feel interested, you could just listen to our replay in the future. This is what I wanna add. Thank you so much. Thank you so much for the management team. Thank you so much for the participation. Wish you a happy life. Thank you. Bye-bye.