Yanzhou Coal Mining 2007 net profit up 36%

Yanzhou Coal Mining Co.<600188><1171>, the only Chinese coal producer listed Shanghai, Hong Kong and New York, announced its net profit increased 36% in the year 2007 as the price rose more than 20%.

The company said in its annual report that its net income rose to RMB 3.23 billion or RMB 0.66 per share, compared with the previous year's RMB 2.73 billion or RMB 0.48 per share under the international accounting standards.

Sales income climbed by 21.3% year on year to RMB 14.56 billion, of which RMB 12.83 billion came from coal sales in the domestic market. The company also declared a dividend of RMB 0.17 per share.

With state-owned Yankuang Group as its parent, the company is mainly engaged in underground mining coal preparation and sales, and railway transportation service of coal. Its total assets amounted to RMB 26.18 billion as of Dec. 31, 2007.