Second-quarter results to see operating gross profit margin

Man recent strength of the big city, the coal plate is ranked in the forefront of the big city. But from the first quarter of the report, Coal enterprise performance.　　Among them, Xishan coal electricity net profit by leaps and bounds, growth 94%, up to 920 million yuan, the net profit of Ping coal shares rose sharply 18.6%, amounted to 410 million yuan; Taurus Energy's net profit rose by 19% to 360 million yuan in the first quarter.　　In the same period, Kailuan shares underperformed, the first quarter net profit reduced by 13.15%, only 230 million yuan, Yanzhou coal industry net profit reduced by 44% per cent, only 830 million yuan. Cost control determines profit and loss so, what is the cause of polarization of corporate performance? The profit statement shows that the divergence stems from two points, first of all, cost control is the most important reason to pull off the performance distance. Some enterprises in the main production of the attention to control the cost, scale utility is obvious, the results strengthened. Among them, flat coal shares in the first quarter of the main business income is not ideal, compared to the same period last year down 18.26%, but due to the cost control properly, its main business profits not fall, year-on-year growth of 3%.　　Taurus Energy is the same, its first quarter of the main business income growth of 20.6%, the main business profit has increased by 22.3%. But the Kailuan shares is the negative example, its first quarter main business income reduced 5%, the main business profit reduced 17%.　　Yanzhou Coal, in contrast, has lost 20% of its main business earnings, while its main industrial profits have fallen by 35%. The difference between operating outside the main business and operating outside the main business has further differentiated the business performance. The investment income and non-operating income of some enterprises are greatly reduced.　　Among them, Yanzhou coal industry in the first quarter investment income is low to negative, the non-operating income reduces 80% to 1.2 million Yuan Year-on-year.　　Xishan coal power and the above two companies formed a sharp contrast, the first quarter of the business income as high as 32.82 million yuan, the year-on-year surge; Taurus energy income also increased by 20% in the first quarter. The main business income of coal enterprises is expected to increase Huang, the company believes that the future performance of coal companies is not directly related to the first quarter results. Because the coal enterprise main income and the current coal price is closely linked, the first quarter coal price weak, the coal enterprise main business income overall decline. The second quarter crude oil price by leaps and bounds, the coal price follows rises, each coal enterprise main business income will increase greatly. The greater the proportion of main business profits in the main business income, the more obvious the possible scale effect will be.　　Reaction to the financial statements, is the operating gross profit margin (the ratio of main business profits and main income) the higher the Company, its future performance growth is worth looking forward to. Compared with the gross profit of several coal companies, Yanzhou Coal was 43% in the first quarter, Taurus Energy was 36%, Kailuan shares were 26%, Xishan coal was 50%, and Ping coal shares were 26%. In comparison, Yanzhou Coal and Xishan coal power future performance is most worth looking forward to, and the flat coal shares and Kailuan shares growth space may be limited.