Hainan Mining (601969.SH) released its 2023 annual results, with net profit of 625 million yuan, an increase of 1.67% over the previous year. It plans to distribute 1 yuan for every 10 shares

According to Zhitong Finance App, Hainan Mining (601969.SH) released its 2023 annual report. During the reporting period, the company achieved operating income of 4.679 billion yuan, a year-on-year decrease of 3.13%; net profit attributable to shareholders of listed companies was 625 million yuan, up 1.67% year on year; net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 549 million yuan, up 1.73% year on year; basic earnings per share were 0.31 yuan/share. The company plans to distribute a cash dividend of 1 yuan (tax included) for every 10 shares to all shareholders.

In 2023, international geopolitical conflicts intensified, and the global economy underwent profound changes, continuing to affect commodity supply and demand patterns and price trends. The company closely focuses on the “14th Five-Year Plan” strategic plan, insists on strategic resources as the core, continues to promote industrial transformation and upgrading through industrial operation and industrial investment, build and deepen the “iron ore+oil and gas+new energy” industrial layout, and continues to move towards achieving the goal of sustainable and high-quality development.

In terms of oil and gas business during the reporting period, Locke Petroleum achieved a record high oil and gas production throughout the year. Among them, the east block of the Weizhou 12-8 Oilfield benefited from the continuous high yield of the four encrypted wells implemented at the end of 2022, and successfully completed the handover of operation rights. The Malaysian oil and gas field has exceeded the promised work volume requirements of the petroleum contract and is further promoting steady production growth in the future. With the completion and operation of the Jiao 70 decarburization and pressurization project at the Bajiaochang gas field, the bottleneck of external transportation was solved. At the same time, the Jiao 75, 77, and 109 well units were put into operation, and LNG test mining of the Jiao 76 well group was put into operation, resulting in a daily natural gas production of 2.6 million cubic meters. The Huizhou 12-7 oil field reserves assessment report was approved, adding nearly 10 million tons of proven oil reserves.