Shenhua accounts receivable amount to 25.1 billion yuan

As the coal market oversupply, prices falling, the coal and power industries profit growth of sharp contrast. The national bureau of statistics data released yesterday showed that 1 Carbon Steel butt-welding equal tee to July, electricity, heat production and supply industry profit year-on-year growth of 73.5%; Coal mining and washing industry, to the level of total profits fell 43.8% year-on-year in the bottom.

Annual report has revealed 2013 year and a half of the coal enterprise almost all fallen profits of listed companies. Yanzhou (600188, shares) by turning losses, loss of 2.4 billion yuan, and China shenhua (601088, shares) net income "only" 4.8% decline, has been the most bright eye for coal industry, China coal energy (601898, shares) net profit of 2.742 ANSI Sch40 butt welding eccentric reducer pipe fittings billion yuan, down 43.4% year-on-year. Part of the small and medium-sized coal listed company capital chain has deteriorated, in addition to the drastic decline in net profit, operating activities, financing activities and investing activities generated cash flow is negative.

And many electric power listed companies released 2013 red NianZhongBao collective. Among them, the investment of power (600886, shares) in the first half of 2013 belonging to net concentric reducer steel pipe fittings profit of 1.15 billion yuan, up 1016.55% from a year earlier. Anhui electric power (000543, shares), qian source power (002039, shares), the new can mount tai (000720, shares), Shanghai electric (600021, shares) belonging to net income 410 million yuan, 14.2279 million yuan and 14.2279 million yuan respectively, 469 million yuan, up 199.59%, 155.80%, 146.24%, 53.35%.

Center daily news listed companies in coal enterprises, the increase of accounts receivable and acceptance has become a very prominent problem. Even the profit is relatively good China shenhua, accounts receivable are increased by 6.1 billion yuan, 25.111 billion yuan. And yanzhou also lying on the center daily news 1.47 billion yuan of accounts receivable, compared with an increase of 58% in the second half of 2012.Yesterday, yanzhou equities relevant personage to the "daily economic news" reporter said that the current accounts receivable amount is growing, but "part of the increased because of the current accounts receivable settlement in rolling, such as electricity providers of downstream customers, every month they will have a rolling settlement time point".

The people also to the "daily economic news" reporter said, yanzhou adhere to the principle of "zero line", and the downstream customers will have a line of credit, exceed quota control, "because we ourselves also noticed that the more in this (downturn) cases, the more we should pay attention to cash flow recycling. As of June 30, the company has 10.7 billion yuan in cash, this should be no problem."

China coal industry association released figures showing that current accounts receivable issue has become to solve the problems of the coal industry as a whole. The first six months of the coal enterprises above designated size accounts receivable RMB 330.8 billion, up 18.88% from a year earlier. Association for the large-scale coal enterprise (about 65% of the total) accounts receivable RMB 259.3 billion, up 31.3% from a year earlier. Most companies acceptance rate of 70% or more, some enterprises even in more than 85%.