Feishang Anthracite Resources Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Announces Board Changes
For the six months revenue was CNY 422,964,000 against CNY 421,434,000 reported last year. Operating profit was CNY 139,450,000 against CNY 124,286,000 reported last year. Profit before tax from continuing operations was CNY 91,908,000 against CNY 102,070,000 reported last year. During the reporting period, the additions of property, plant and equipment (excluding transferred from construction in progress) amounted to approximately CNY 25.0 million against approximately CNY 20.9 million reported last year. Construction in progress amounted to approximately CNY 206.3 million against approximately CNY 108.6 million reported last year. Net cash flows from operating activities CNY 245,590.000 against net cash ised in operating activities CNY 140,489,000 a year ago. Purchases of items of property, plant and equipment was CNY 259,811,000 against CNY 205,413,000 a year ago.
The Board announces that with effect from 31 August 2018, Mr. WAN Huojin resigned as an executive Director and a member of the Corporate Social Responsibility Committee of the Company due to his advanced age. The Board also announced that with effect from 31 August 2018, Mr. HU Lubao was appointed as an executive Director and a member of the Corporate Social Responsibility Committee of the Company. Mr. HU Lubao, aged 56, has more than 30 years of experience in the coal mining industry. He was appointed as a director of Jinsha Juli (an indirect wholly-owned subsidiary of the Company) in March 2017, as the chief engineer and deputy general manager of Guizhou Puxin (an indirect wholly-owned subsidiary of the Company) in January 2014 and as the deputy chief engineer of Guizhou Puxin in June 2012.