Winsway: 2013 Interim Report
September 19, Winsway Coking Coal Holdings Limited (HKEx:1733) --
Financial Highlights
· Turnover of the Group in the first half of 2013 was HK$5,815 million.
· Loss for the six months ended 30 June 2013 was HK$933 million. Loss attributable to equity shareholders of the Company amounted to HK$763 million.
· Diluted loss per share was HK$0.202.
· The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2013.
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In the first half of 2013, the Group recorded consolidated revenue of HK$5,815 million on 5.70 million tonnes of sales, out of which 2.52 million tonnes were Mongolian coal, 2.03 million tonnes were seaborne coal, 0.92 million tonnes were self-produced coal, and 0.23 million tonnes were iron ore. This is to be compared with a consolidated revenue of HK$6,614 million on 5.77 million tonnes of sales, out of which, 3.42 million tonnes were Mongolian coal, 1.83 million tonnes were seaborne coal, and 0.52 million tonnes were self-produced coal during the first half of 2012.
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II. Mongolian coal Procurement
In the first half of 2013, the Group procured a total of 2.04 million tonnes of Mongolian coal, an 8.11% decrease from the volume procured during the same period last year. The decrease in our procurement volume was set to meet our goal of keeping a low inventory level, which would allow the Group to improve its overall liquidity and to avoid potential market risk.
Our top Mongolian coal suppliers during the first half of 2013 were Energy Resources LLC and Moveday Enterprise Limited ("Moveday") with procurement amount of HK$602 million and HK$326 million respectively. Coal procured from Moveday was mined by Tavan Tolgoi Corporation. Moveday also provided transportation services with a total consideration of HK$175 million to the Company for the six months ended on 30 June 2013.
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Financial Highlights
· Turnover of the Group in the first half of 2013 was HK$5,815 million.
· Loss for the six months ended 30 June 2013 was HK$933 million. Loss attributable to equity shareholders of the Company amounted to HK$763 million.
· Diluted loss per share was HK$0.202.
· The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2013.
…
In the first half of 2013, the Group recorded consolidated revenue of HK$5,815 million on 5.70 million tonnes of sales, out of which 2.52 million tonnes were Mongolian coal, 2.03 million tonnes were seaborne coal, 0.92 million tonnes were self-produced coal, and 0.23 million tonnes were iron ore. This is to be compared with a consolidated revenue of HK$6,614 million on 5.77 million tonnes of sales, out of which, 3.42 million tonnes were Mongolian coal, 1.83 million tonnes were seaborne coal, and 0.52 million tonnes were self-produced coal during the first half of 2012.
…
II. Mongolian coal Procurement
In the first half of 2013, the Group procured a total of 2.04 million tonnes of Mongolian coal, an 8.11% decrease from the volume procured during the same period last year. The decrease in our procurement volume was set to meet our goal of keeping a low inventory level, which would allow the Group to improve its overall liquidity and to avoid potential market risk.
Our top Mongolian coal suppliers during the first half of 2013 were Energy Resources LLC and Moveday Enterprise Limited ("Moveday") with procurement amount of HK$602 million and HK$326 million respectively. Coal procured from Moveday was mined by Tavan Tolgoi Corporation. Moveday also provided transportation services with a total consideration of HK$175 million to the Company for the six months ended on 30 June 2013.
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