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Beijing, August 13th(Reporter Yang Yu) Huadian International(600027.SH, share price 5.5 yuan, market value 56.252 billion yuan)Recently (August 13) evening announcement, the company's shareholding company Inner Mongolia Fucheng Mining Co., Ltd. (hereinafter referred to as "Fucheng Mining") was listed as the person subject to execution, the execution target this time was 5.409 billion yuan. As of June 30 this year, before Fucheng Mining was listed as the person subject to execution, the book value of the long-term equity investment in Fucheng Mining held by Huadian International was 697 million yuan; after Fucheng Mining was listed as the person subject to execution, it was written down to 0.

Huadian International said that Fucheng Mining was listed as the person subject to execution, which affected the company's 2024 semi-annual financial report, and the "long-term equity investment" and "investment income" items were reduced by 697 million yuan. However, this execution will not affect the normal production and business development of Huadian International, and will not have an adverse impact on the company's continued operation.

In the first quarter of this year, Huadian International has achieved revenue of 30.952 billion yuan and net profit attributable to shareholders of the parent company of 1.862 billion yuan.

The equity interest in Fucheng Mining was acquired by Huadian International in June 2009 for RMB 498 million. After the acquisition, the company increased its capital by RMB 384 million (including dividend capital increase), with a total investment cost of RMB 882 million. Currently, Fucheng Mining is 65% owned by Xinkuang Inner Mongolia Energy Co., Ltd. and 35% by Huadian International. Among them, Xinkuang Inner Mongolia Energy Co., Ltd. is a subsidiary of Xinwen Mining Group.

According to the official website of Xinwen Mining Group, the group is currently affiliated to Shandong Energy Group Co., Ltd., a Fortune 500 company. It has a total of 139 state-owned and state-controlled enterprises. The business development areas involve six places in Shandong Province, namely Tai'an, Jinan, Dezhou, Heze, Liaocheng and Qingdao, and seven provinces and regions outside the province, namely Xinjiang, Inner Mongolia, Shanxi, Shaanxi, Ningxia, Anhui and Yunnan, as well as the Hong Kong Special Administrative Region.

On July 12 this year, Xinwen Mining Group first disclosed the announcement that Fucheng Mining was included in the list of persons subject to execution. At that time, Xinwen Mining Group stated that the inclusion of Fucheng Mining in the list of persons subject to execution would have a certain impact on the company, and the company was actively negotiating a solution. According to the 2023 financial statements of Xinwen Mining Group, the company achieved a total revenue of 121.746 billion yuan and a net profit attributable to the parent company of 5.233 billion yuan last year; among them, Xinkuang Inner Mongolia Energy Co., Ltd. had a revenue of 10.861 billion yuan and a net profit of a loss of 1.152 billion yuan.

Daily Economic News