CStone Pharmaceuticals — Interim / Quarterly Report 2019

Apr 26, 2019

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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YANZHOU COAL MINING COMPANY LIMITED

(A joint stock limited company incorporated in the People’s Republic of China (“ PRC ”) with limited

liability) (Stock Code: 01171) RESULTS REPORT FOR THE FIRST QUARTER OF 2019

IMPORTANT NOTICE

This announcement is made pursuant to Part XIVA of the Securities and Futures Ordinance and the disclosure requirement under Rule 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Hong Kong Stock Exchange ”). The board of directors (the “ Board ”), the supervisory committee, the Directors, the Supervisors, and the senior management of Yanzhou Coal Mining Company Limited (“ Yanzhou Coal ” or “ the Company ” or “ Company ”) confirm that this report does not contain any misrepresentations, misleading statements or material omissions and jointly and severally accept all responsibilities for the authenticity, accuracy and completeness of the information contained in this report.

The report for the results of the first quarter of 2019 of the Company (the “ Report ”) was considered and approved by the twenty-fifth meeting of the seventh session of the Board and all the 11 Directors of the Board who were supposed to attend the meeting were present.

The financial statements in this Report have not been audited.

“Reporting Period” means the period from 1 January 2019 to 31 March 2019.

“The Group” means the Company and its subsidiaries.

The Chairman of the Board, Mr. Li Xiyong, the Chief Financial Officer, Mr. Zhao Qingchun and the head of the Accounting Management Department, Mr. Xu Jian, hereby declare the authenticity, accuracy and completeness of the financial statements in this Report.

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Summary of the unaudited results of the Group for the first quarter ended 31 March 2019 is set out as follows:

• This Report is prepared in accordance with the relevant regulations on Disclosure of Information in Quarterly Reports for Listed Companies promulgated by the China Securities Regulatory Commission (the “CSRC”).

• All financial information contained in this Report is prepared in accordance with the relevant requirements and interpretations under the Accounting Standards for Business Enterprises promulgated by the Ministry of Finance of the PRC. Shareholders of the Company (the “Shareholders”) and public investors are reminded of the different reporting standards adopted in this Report, the interim report and the annual report of the Company when trading in the shares of the Company.

• Unless otherwise specified, the recording currency used in this Report is Renminbi (“RMB”).

• For the first quarter of 2019, the operating income of the Group was RMB48.244 billion, representing an increase of RMB15.910 billion or 49.2% as compared with the corresponding period of last year. Net profit attributable to the shareholders of listed company was RMB2.308 billion, representing an increase of RMB81 million or 3.6% as compared with the corresponding period of last year.

• The content of the Report is consistent with the announcement published on the Shanghai Stock Exchange. This announcement is published simultaneously in the PRC and overseas.

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• §1 General Information of the Group

1.1 Major Accounting Data and Financial Indicators

Unit: RMB’000

			Unit: RMB’000
	As at the end of the Reporting Period	As at the end of previous year	Increase/decrease at the end of the Reporting Period as compared with the end of previous year （%）
Total assets	197,037,106	203,679,900	-3.26
Net assets attributable to the shareholders of listed company	63,488,789	60,991,768	4.09
	From the beginning of the year to the end of the Reporting Period (January-March)	From the beginning of the year till the end of the Reporting Period of the year 2018(January-March)	Increase/decrease for the Reporting Period as compared with the corresponding period of previousyear(%）
Net cash flows from operating activities	4,424,475	3,270,162	35.30
	From the beginning of the year to the end of the Reporting Period (January-March)	From the beginning of the year till the end of the Reporting Period of the year 2018 (January-March)	Increase/decrease for the Reporting Period as compared with the corresponding period of previousyear（%）
Operating income	48,243,536	32,333,709	49.21
Net profit attributable to the shareholders of listed company	2,308,395	2,227,536	3.63
Net profit attributable to the shareholders of listed company after deducting extraordinary profits and losses	2,229,570	2,166,053	2.93

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Weighted average return on net assets (%)	3.70	4.01	Decreased by 0.31 percentage point
Basic earnings per share (RMB)	0.4699	0.4535	3.62
Diluted earnings per share(RMB)	0.4699	0.4535	3.62

Note: According to the related stipulations in the Accounting Standards for Business Enterprises No. 21-Lease (revised) (“the new lease accounting standard”) promulgated by Mininstry of Finance of the People’s Republic of China in December 2018, the Group started to implement the new lease accounting standard from 1 Janurary 2019. For details of the impact of implementation of the new lease accounting standard on the Group, please refer to the sections headed “Adjustment on the financial statements at the beginning of 2019 due to the newly-implemented accounting standards on financial instruments, income and lease” in the Appendices of this report.

Extraordinary profit and loss items and amounts

Unit: RMB’000

Extraordinary profit and loss items and amounts	Unit: RMB’000
Items	Amount for the Reporting Period (January-March)
Gains and losses on disposals of non-current assets	388
Government grants recognized as current gains or loss, which are closely related to the Company’s business operations and in line with national policies and can be continuously enjoyed according to certain standardquota orquantities	10,485
Payment charged from non-financial companies for use of fund and recognized as currentgains or losses	93,296
Except effective hedging businesses that relate to the Company's ordinary operating operations, gain or loss from fair value changes on transactional financial assets, derivative financial assets, transactional financial liabilities and derivative financial liabilities, and investment income from disposal of transactional financial assets, derivative financial assets, transactional financial liabilities, derivative financial liabilities and other creditor’s investment.	12,332
Other non-operatingincome and expenses excluding	47,608

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the abovementioned items
Effect of the equity of minority shareholders (after tax)	-24,503
Effect of income tax	-60,781
Total	78,825

1.2 Total number of Shareholders at the end of the Reporting Period, the top ten Shareholders and the top ten Shareholders holding tradable shares of the Company which are not subject to trading moratorium

Unit: share

Total number of Shareholders						79,068
	Shareholdings of the top ten Shareholders
Name of Shareholder	Number of shares held at the end of the Reporting Period	Percentage holding of the total share capital (%)	Number of shares held subject to trading moratorium	Pledged or locked share		Nature of Shareholders
				Status of Shares	Number of Shares
Yankuang Group Co., LTD. (“Yankuang Group”)	2,267,169,423	46.16	0	No	0	State-owned legal person
HKSCC (Nominees) Limited	1,948,612,033	39.67	0	Unknown	-	Overseas legalperson
China Life Insurance Co., Ltd.-Dividend-Individual dividends-005L-FH002Shanghai	22,065,202	0.45	0	No	0	Others
Central Huijin Assets Management Co., Ltd.	19,355,100	0.39	0	No	0	State-owned legalperson
National Social Security Fund 102 Combination	19,103,061	0.39	0	No	0	Others
Abu Dhabi Investment Authority	18,885,166	0.38	0	No	0	Others
National Social Security Fund 403 Combination	12,884,351	0.26	0	No	0	Others
New China Life Insurance Co., Ltd.-Dividend-Group dividend-018L-FH001Shanghai	12,261,478	0.25	0	No	0	Others
Mo Jianrong	7,594,500	0.15	0	No	0	Domestic natural person

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Hong Kong Securities Clearing CompanyLimited	6,791,793	0.14	0	No	0	0	Overseas legalperson
Top ten Shareholders holding tradable shares not subject to trading moratorium
Name of Shareholder		Number of tradable shares held not subject to trading moratorium at the end of the Reporting Period		Class and number of shares held
				Class		Number
YankuangGroup		2,267,169,423		A Shares		2,267,169,423
HKSCC(Nominees)Limited		1,948,612,033		H Shares		1,948,612,033
China Life Insurance Co., Ltd.-Dividend-Individual dividends-005L-FH002Shanghai		22,065,202		A Shares		22,065,202
Central Huijin Assets Management Co., Ltd.		19,355,100		A Shares		19,355,100
National Social SecurityFund 102 Combination		19,103,061		A Shares		19,103,061
Abu Dhabi Investment Authority		18,885,166		A Shares		18,885,166
National Social SecurityFund 403 Combination		12,884,351		A Shares		12,884,351
New China Life Insurance Co., Ltd.-Dividend-Group dividends-018L-FH001Shanghai		12,261,478		A Shares		12,261,478
Mo Jianrong		7,594,500		A Shares		7,594,500
Hong Kong Securities Clearing Company Limited		6,791,793		A Shares		6,791,793
Connected relationship or actions in concert among the above Shareholders		As at 31 March 2019, the subsidiary of Yankuang Group incorporated in Hong Kong held 278,000,000 H shares through HKSCC (Nominees) Limited. Apart from this, it is unknown whether other shareholders are connected with one another or whether any of these shareholders fall within the meaning of parties actingin concert.
Illustration of preferred shareholders with restored voting rights and number of shares held bythem		Not applicable.

Notes:

1. All the information above including “Total number of Shareholders” and “The top ten Shareholders and the top ten Shareholders holding tradable shares of the Company which are not subject to trading moratorium at the end of the Reporting Period” is prepared in accordance with the registers of the Shareholders provided by China Securities Depository and Clearing Co., Ltd. Shanghai Branch and Computershare Hong Kong Investor Services Limited.

2. As the clearing and settlement agent for the Company’s H shares, HKSCC (Nominees) Limited holds the Company’s H shares in the capacity of a nominee. HKSCC Limited is the nominal shareholder of the Company’s Shanghai Stock Connect Program.

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1. As at 31 March 2019, Yankuang Group held a total of 2,267,169,423 A shares of the Company, including 1,875,662,151 A shares held by its own account, and 391,507,272 A shares held by the guarantees and trust account opened by CITIC Securities Co., Ltd. and itself. The aforementioned guarantees and trust account provide guarantees for the exchangeable corporate bonds issued by Yankuang Group.

Substantial Shareholders’ Interests and Short Positions in the Shares and/or Underlying Shares of the Company

As far as the Directors are aware, save as disclosed below, as at 31 March 2019, other than the Directors, Supervisors or chief executives of the Company, there were no other persons who were substantial shareholders of the Company or had interests or short positions in the shares or underlying shares of the Company, which should (i) be disclosed pursuant to Sections 2 and 3 under Part XV of the Securities and Futures Ordinance ("SFO"); (ii) be recorded in the register to be kept pursuant to Section 336 of the SFO; or (iii) notify the Company and the Hong Kong Stock Exchange in other ways.

Name of Substantial Shareholders	Class of Shares	Capacity	Number of Shares Held (shares)	Nature of Interests	Percentage in the H Share Capital of the Company	Percentage in Total Share Capital of the Company
Yankuang Group	A Shares (state-owned legal person shares)	Beneficial owner	2,267,169,423	Long position		46.16%
		Beneficial owner	391,507,272	Short position		7.97%
Yankuang Group(Note 1)	H Shares	Interest of controlled corporations	277,989,000	Long position	14.24%	5.66%
BNP Paribas Investment Partners SA	H Shares	Investment manager	117,641,207	Long position	6.03%	2.39%
BlackRock, Inc.	H Shares	Interest of controlled corporations	115,722,028	Long position	5.93%	2.36%
			414,000	Short position	0.02%	0.01%

Notes:

1. Yankuang Group’s controlled subsidiary incorporated in Hong Kong holds such H Shares in the capacity of beneficial owner.

2. The percentage figures above have been rounded off to the nearest second decimal place.

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3. Information disclosed herein is based on the information available on the website of the Hong

Kong Stock Exchange at www.hkexnews.hk and information provided by China Securities Depository and Clearing Corporation Limited Shanghai Branch.

• 1.3 Number of preferable shareholders, top 10 preferable shareholders, and top 10 preferable shareholders holding shares with no restricted trading moratorium

Not applicable.

§2 Significant Matters

• 2.1 General Operating Performance of the Group

• 2.1.1 Major operating data of main products and services

Item	Firstquarter	Firstquarter	Increase/ Decrease（%）
	2019	2018
1. Coal business(kilotonne)
Raw coalproduction	26,062	26,133	-0.27
Saleable coalproduction	23,192	24,293	-4.53
Sales volume of saleable coal	26,441	27,405	-3.52
2. Railway transportation business	(kilotonne)
Transportation volume	5,600	5,149	8.76
3. Coal chemicals business(kilotonne)
Methanolproduction	457	452	1.11
Methanol sales volume	461	445	3.60
4. Electricalpower business(10,000kWh)
Powergeneration	68,355	64,833	5.43
Electricitysold	43,250	37,092	16.60

Note: There are significant differences in the amounts of power generation and electricity sales volume of electrical power business in the above table, which were mainly due to the fact that the electrical power produced by the Group was to be sold externally after satisfying self-use demand.

2.1.2 Operating performance of the principal businesses by segment

1. Coal business

(1) Coal production

For the first quarter of 2019, the raw coal production of the Group was 26.06 million tonnes,

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representing a decrease of 70 thousand tonnes or 0.3% as compared with the corresponding period of the previous year. The saleable coal production was 23.19 million tonnes, representing a decrease of 1.1 million tonnes or 4.5% as compared with the corresponding period of the previous year.

Unit: kilotonne

Items	First quarter	First quarter	Increase/ Decrease (%)
	2019	2018
I. Raw coal production	26,062	26,133	-0.27
1. The Company	7,920	7,742	2.30
2. Shanxi Neng Hua ①	404	397	1.76
3. Heze Neng Hua ②	608	856	-28.97
4. Ordos Neng Hua ③	3,606	3,898	-7.49
5. Haosheng Company ④	441	1,640	-73.11
6. Yancoal Australia ⑤	11,500	10,167	13.11
7. Yancoal International ⑥	1,584	1,433	10.54
II. Saleable coal production	23,192	24,293	-4.53
1. The Company	7,919	7,738	2.34
2. Shanxi Neng Hua	400	386	3.63
3. Heze Neng Hua	605	854	-29.16
4. Ordos Neng Hua	3,600	3,898	-7.64
5. Haosheng Company	441	1,640	-73.11
6. Yancoal Australia	8,818	8,329	5.87
7. Yancoal International	1,409	1,448	-2.69

Notes:

① “Shanxi Neng Hua” refers to Yanzhou Coal Shanxi Neng Hua Company Limited.

② “Heze Neng Hua” refers to Yanmei Heze Neng Hua Company Limited. In the first quarter of 2019, the production volume of raw coal and saleable coal of Heze Neng Hua was decreased as compared with the corresponding period of last year, which was mainly due to the fact that Zhaolou Coal Mine of Heze Neng Hua has operated according to the new ratified production capacity during the reporting period.

③ “Ordos Neng Hua” refers to Yanzhou Coal Ordos Neng Hua Company Limited.

④ “Haosheng Company” refers to Inner Mongolia Haosheng Coal Mining Company Limited. In the first quarter of 2019, the production volume of raw coal and saleable coal of Haosheng Company was decreased as compared with the corresponding period of last year, which was mainly due to the fact that the coal production of Shilawusu Mine, which belongs to Haosheng Company, was restricted because of safety and environmental policies. Since mid-April, the

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production of Shilawusu Coal Mine has improved significantly.

• ⑤ “Yancoal Australia” refers to Yancoal Australia Limited.

• ⑥ “Yancoal International” refers to Yancoal International (Holding) Co., Ltd.

(2) Coal prices and sales

The sales volume of saleable coal for the first quarter of 2019 was 26.44 million tonnes, representing a decrease of 0.96 million tonnes or 3.5% as compared with the corresponding period of last year.

The following table sets out the Group’s production and sales of saleable coal by coal types for the first quarter of 2019:

	Firstquarter of 2019	Firstquarter of 2019	Firstquarter of 2019	Firstquarter of 2018	Firstquarter of 2018	Firstquarter of 2018
	Coal production	Sales volume	Sales price	Coal production	Sales volume	Sales price
	(Kilotonne)	(Kilotonne)	(RMB/tonne)	(Kilotonne)	(Kilotonne)	(RMB/tonne)
I. The Company	7,919	7,872	624.69	7,738	7,507	595.04
No. 1 clean coal	302	341	940.10	148	142	882.85
No. 2 clean coal	2,412	2,271	889.74	1,898	2,176	826.99
No. 3 clean coal	724	515	661.82	513	447	696.43
Lumpcoal	602	665	722.63	521	538	727.14
Sub-total of clean coal	4,040	3,792	833.99	3,080	3,303	795.46
Screened raw coal	3,879	4,080	430.12	4,658	4,204	437.47
II. Shanxi NengHua	400	398	322.78	386	407	395.47
Screened raw coal	400	398	322.78	386	407	395.47
III. Heze Neng Hua	605	468	1,138.13	854	810	980.68
No. 2 clean coal	518	468	1,138.13	141	761	1,017.02
Screened raw coal	87	-	-	713	49	419.08
IV. Ordos Neng Hua	3,600	3,149	270.39	3,898	3,584	274.28
Screened raw coal	3,600	3,149	270.39	3,898	3,584	274.28
V. Haosheng Company	441	450	322.72	1,640	1,562	330.56
Screened raw coal	441	450	322.72	1,640	1,562	330.56
VI. Yancoal Australia	8,818	8,376	647.30	8,329	7,813	600.64

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Semi-hard coking coal	28	27	1,075.44	41	38	701.02
Semi-soft coking coal	688	654	908.13	786	738	820.28
PCI coal	755	718	931.48	521	489	824.05
Thermal coal	7,347	6,977	592.02	6,981	6,548	558.63
VII. Yancoal International	1,409	1,318	388.82	1,448	1,556	389.42
Thermal coal	1,409	1,318	388.82	1,448	1,556	389.42
VIII. Traded coal	-	4,410	734.80	-	4,166	682.93
IX. Total for the Group	23,192	26,441	595.67	24,293	27,405	549.73

(3) Sales Cost of coal

For the first quarter of 2019, the sales cost of coal business of the Group was RMB8.76 billion, representing an increase of RMB714 million or 8.9% as compared with the corresponding period of last year.

Items	Items	Unit	Firstquarter	Firstquarter	Firstquarter
			2019	2018	Increase/ Decrease (%)
The Company	Total cost of sales	RMB1 million	2,027	1,928	5.13
	Cost of sales per tonne	RMB/tonne	255.16	256.09	-0.36
Shanxi Neng Hua	Total cost of sales	RMB1 million	88	84	4.76
	Cost of sales per tonne	RMB/tonne	219.95	207.26	6.12
Heze Neng Hua	Total cost of sales	RMB1 million	259	338	-23.37
	Cost of sales per tonne	RMB/tonne	489.30	373.89	30.87
Ordos Neng Hua	Total cost of sales	RMB1 million	536	429	24.94
	Cost of sales per tonne	RMB/tonne	170.13	119.84	41.96
Haosheng Company	Total cost of sales	RMB1 million	133	212	-37.26
	Cost of sales per tonne	RMB/tonne	296.35	135.66	118.45
Yancoal Australia	Total cost of sales	RMB1 million	2,406	2,234	7.70
	Cost of sales per tonne	RMB/tonne	287.25	285.97	0.45
Yancoal International	Total cost of sales	RMB1 million	298	404	-26.24
	Cost of sales per tonne	RMB/tonne	226.45	259.88	-12.86
Traded coal	Total cost of sales	RMB1 million	3,138	2,670	17.53
	Cost of salesper tonne	RMB/tonne	711.42	640.95	10.99

Changes of sales cost per tonne of Heze Neng Hua was mainly due to the decrease of salable coal’s sales volume as compared with the corresponding period of last year resulting in the increase of sales cost per tonne.

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Changes of sales cost per tonne of Ordos Neng Hua: ①the cost of coal sales per ton was increased by RMB20.65 as compared with the corresponding period of last year due to the decrease of saleable coal’s sales volume. ②the cost of coal sales per tonne was increased by RMB20.41 as compared with the corresponding period of last year due to the increase of investment in safety and environmental protection.

Changes of sales cost per tonne of Haosheng Company was mainly due to the decrease of salable coal’s sales volume as compared with the corresponding period of last year resulting in the increase of sales cost per tonne.

2. Railway transportation business

For the first quarter of 2019, the transportation volume of the Company’s railway assets for coal transportation was 5.6 million tonnes, representing an increase of 0.45 million tonnes or 8.8% as compared with the corresponding period of last year. Income from railway transportation services was RMB109 million, representing an increase of RMB5.878 million or 5.7% as compared with the corresponding period of last year. The cost of railway transportation business was RMB37.021 million, representing an increase of RMB5.948 million or 19.1% as compared with the corresponding period of last year.

3. Coal chemicals business

The following table sets out the operation of methanol business of the Group for the first quarter of 2019:

	Production volume(kilotonne)	Production volume(kilotonne)	Production volume(kilotonne)	Sales volume(kilotonne)	Sales volume(kilotonne)	Sales volume(kilotonne)
	First quarter of 2019	First quarter of 2018	Increase/ decrease (%)	First quarter of 2019	First quarter of 2018	Increase/ Decrease (%)
1. Yulin Neng Hua	189	187	1.07	201	193	4.15
2. Ordos Neng Hua	268	265	1.13	260	252	3.17

Note: "Yulin Neng Hua" refers to Yanzhou Coal Yulin Neng Hua Co., Ltd.

	Sales income(RMB’000)	Sales income(RMB’000)	Sales income(RMB’000)	Sales cost(RMB’000)	Sales cost(RMB’000)	Sales cost(RMB’000)
	First quarter of 2019	First quarter of 2018	Increase / decrease (%)	First quarter of 2019	First quarter of 2018	Increase/ Decrease (%)
1. Yulin Neng Hua	343,332	403,143	-14.84	269,293	268,421	0.32
2. Ordos Neng Hua	436,244	522,136	-16.45	285,945	281,465	1.59

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4. Electric power business

The following table sets out the operation of electric power business of the Group for the first quarter of 2019:

	Powergeneration(10,000 kWh)	Powergeneration(10,000 kWh)	Powergeneration(10,000 kWh)	Electricitysold(10,000 kWh)	Electricitysold(10,000 kWh)	Electricitysold(10,000 kWh)
	First quarter of 2019	First quarter of 2018	Increase/ Decrease (%)	First quarter of 2019	First quarter of 2018	Increase/ Decrease (%)
1. Hua Ju Energy	19,612	19,335	1.43	5,868	3,642	61.12
2. Yulin Neng Hua	7,638	8,206	-6.92	485	509	-4.72
3. Heze Neng Hua	41,105	37,292	10.22	36,898	32,941	12.01

	Sales income (RMB’000)	Sales income (RMB’000)	Sales income (RMB’000)	Sales cost (RMB’000)	Sales cost (RMB’000)	Sales cost (RMB’000)
	First quarter of 2019	First quarter of 2018	Increase/ Decrease (%)	First quarter of 2019	First quarter of 2018	Increase/ Decrease (%)
1. Hua Ju Energy	25,358	17,745	42.90	18,458	7,614	142.42
2. Yulin NengHua	912	950	-4.00	1,778	1,933	-8.02
3. Heze NengHua	126,650	111,799	13.28	106,024	94,738	11.91

Note: “Hua Ju Energy” refers to Shandong Hua Ju Energy Company Limited. In the first quarter of 2019, the income and sales cost of electric power business of Hua Ju Energy increased

significantly, which was mainly due to the increase of electricity sales volume as compared with the corresponding period of last year.

5. Heat business

In the first quarter of 2019, Hua Ju Energy generated heat energy of 340 thousand steam tonnes, of which 110 thousand steam tonnes was sold, realizing sales income of RMB11.937 million and sales cost of RMB7.859 million.

6. Electrical and mechanical equipment manufacturing business

In the first quarter of 2019, the sales income and sales cost of the electrical and mechanical equipment manufacturing of the Group were RMB24.211 million and RMB22.25 million, respectively.

7. Non-coal trade business

In the first quarter of 2019, the income and sales cost of the non-coal trade business of the Group were RMB30.399 billion and RMB30.327 billion, respectively.

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8. Equity investment business

In the first quarter of 2019, the equity investment income of the Group was RMB296 million.

2.1.3 Operating performance of Yankuang Group Finance Company Limited during the Reporting Period

	First quarter of 2019 (RMB1 million)	First quarter of 2018 (RMB1 million)	Increase/ Decrease (%)
Operatingincome	82	73	12.33
Netprofit	56	49	14.29
	31 March 2019 (RMB1 million)	31 December 2018 (RMB1 million)	Increase/ Decrease (%)
Net assets	1,543	1,488	3.70
Total assets	16,293	23,146	-29.61

2.2 Significant movements of the accounting items and financial indicators of the Company and the reasons thereof

2.2.1 Significant movements of items in balance sheet and the reasons thereof

	31 March	2019	31 December 2018	31 December 2018	Increase/ Decrease (%)
	(RMB1 million)	Percentage of total assets(%)	(RMB1 million)	Percentage of total assets
Prepayment	5,913	3.00	3,217	1.58	83.80
Non-current liabilities due within oneyear	5,229	2.65	7,195	3.53	-27.32
Other current liabilities	2,164	1.10	7,282	3.58	-70.28

Explanations for changes of prepayment: ①Haosheng Company made prepayment of RMB2.054 billion for the mining right of Shilawusu Coal Mine. ②Prepaid trade payment by Qingdao Zhongyin Ruifeng International Trade Co, Ltd. increased by RMB770 million as compared with that of the beginning of the year 2019.

Explanations for changes of non-current liabilities due within one year: the Company repaid RMB1.95 billion for corporate bond during the reporting period.

Explanation for changes of other current liabilities: the Company repaid RMB5 billion for short-term financing bond during the reporting period.

2.2.2 Significant movements of items in income statement and the reasons thereof

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	First quarter of 2019 (RMB1million)	First quarter of 2018 (RMB1million)	Increase/ Decrease (%)	Main reasons for change
Operating income	48,244	32,334	49.21	①The increase of self-produced coal sales price resulted in the increase of operating income by RMB925 million as compared with the corresponding period of last year; The decrease of self-produced coal sales volume resulted in the decrease operating income by RMB635 million as compared with the corresponding period of last year;②Sales income from traded coal increased by RMB395 million as compared with the corresponding period of last year;③Income from other businesses increased by RMB15.379 billion as compared with the corresponding period of lastyear.
Operating cost	40,725	24,835	63.98	①Coal sales cost increased by RMB714 million as compared with the corresponding period of last year; ②Other businesses cost increased by RMB15.164 billion as compared with the corresponding period of lastyear.
Investment income	296	215	37.67	The Group’s income from equity investment based on equity method increased as compare with the corresponding period of the previous year.

2.2.3 Significant movements of items in cash flow statement and the reasons thereof

	First quarter of 2019 (RMB1 million)	First quarter of 2018 (RMB1 million)	Increase/ Decrease (%)	Main reasons for change
Net cash flows from operating activities	4,424	3,270	35.29	①Cash received from goods sales and rendering services increased by RMB15.055 billion as compared with that of last year;②Cash paid for purchase of goods and acceptance of services increased by RMB13.812 billion as compared with that of lastyear.
Net cash flows from investing	-2,711	-4,469	-	①Cash from investment recovery increased byRMB952 million as

15

activities				compared with that of last year; ②Cash received from other investment-related activities decreased by RMB570 million as compared with that of last year; ③Cash paid for purchasing of fixed assets, intangible assets and other long-term assets increased by RMB1.101 billion as compared with that of last year;④Cash paid for investment decreased by RMB1.647 billion as compared with that of last year;⑤Net cash received from subsidiaries and other operating units decreased by RMB1.534 billion as compared with that of last year.;⑥Cash paid for other investment-related activities increased by RMB778 million as compared with that of the corresponding period of lastyear.
Net cash flows from financing activities	-8,157	7,082	-215.18	①Cash received from absorbing investments by RMB8.231 billion as compared with that of last year; ②Cash paid for debt repayment increased by RMB5.4 billion as compared with that of last year; ③Cash paid for dividends or profit allocation, or interest payment increased by RMB1.024 billion as compared with that of lastyear.
Net increase in cash and cash equivalents	-6,660	5,684	-217.17	—

• 2.3 Progress and impact of significant events and analysis of resolutions

• 2.3.1 Litigation or Arbitration Events

Litigation or arbitration events with subsequent progress during the Reporting Period

1. Jinan Railway Coal Trade Group Co., Ltd. (“Jinan Railway Trade”) sued Yanzhou Coal for sales contract dispute

16

In October 2015, citing the sales contract dispute, Jinan Railway Trade appealed against Yanzhou Coal to Jinan Railway Transportation Court, requiring Yanzhou Coal to repay a goods payment of RMB19.9498 million. According to the investigation and verification of the Company, the Company never signed sales contract involved in the case with Jinan Railway Trade. The Company was disputed on reasons of appeal of Jinan Railway Trade.

In October 2017, the Company lost the lawsuit at the first instance and Jinan Railway Transportation Court ruled that the Company shall bear responsibility of compensation.

In November 2017, the Company lodged an appeal to Jinan Railway Transportation Intermediate Court (“ Railway Intermediate Court ”), which ruled the Company should bear responsibility of compensation in March 2019.

Currently, the Company has applied to the Shandong Provincial Higher People's Court (“ Shandong High Court ”) for retrial in this case, and it is still impossible to judge the impact of this litigation on the Company's current profit or future profit.

For details, please refer to the 2018 Annual Report of Yanzhou Coal, which was posted on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Company.

2. Yanzhou Coal sued Jinan Railway Trade for the sales contract dispute

In April 2016, the Company, as the plaintiff, brought a civil litigation against Jinan Railway Trade at Jining Intermediate Court, suing Jinan Railway Trade to refund a payment for goods of RMB80 million and related interests accrued to the Company.

In July 2017, Jining Intermediate Court ruled that Jinan Railway Trade shall repay the payment for goods of RMB80 million and related interests accrued to the Company. Jinan Railway Trade lodged an appeal against the first judgment at Shandong High Court.

In February 2018, Shandong High Court ruled the case to be reheard by Jining Intermediate Court.

In March 2019, Jining Intermediate Court ruled that the Company’s appeal was rejected and the Company has lodged an appeal to Shandong High Court.

The case has currently entered into the trial procedure at the second instance. Therefore, it is unable for the Company to accurately estimate the impact of the litigation on its current profit or future profit.

For details, please refer to the 2018 Annual Report of Yanzhou Coal, which was published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Company.

3. Zhonghuixintong Business Factoring Co., Ltd. (“Zhonghuixintong”) sued Yanzhou Coal for the factoring business contract dispute

17

In November 2015, citing the factoring business contract dispute, Zhonghuixintong appealed to Beijing No.3 Intermediate People’s Court (“ Beijing No.3 Intermediate Court ”) against Shandong Hengfeng Power Fuel Co., Ltd. (" Hengfeng Company ") and the Company, requiring Hengfeng Company to repay factorage financing of RMB159.9770 million and related interests. Because Hengfeng Company had transferred its accounts receivable of RMB145 million payable by Yanzhou Coal (counterfeited) to Zhonghuixintong, Zhonghuixintong required the Company to bear the liability of repayment within the amount of the accounts receivable.

The Company applied for judicial authentication of the seals and signatures of the relevant evidence by Beijing No.3 Intermediate Court. The judicial authentication verified the seals and signatures were forged.

On 23 November 2018, Beijing No.3 Intermediate Court held a hearing on the case, Zhonghuixintong withdrew the suit at the court.

On 1 February 2019, the Company received the verdict given by Beijing No.3 Intermediate Court, which ruled that Yanzhou Coal was exempted from the liability.

Zhonghuixintong withdrew the litigation against Yanzhou Coal, and the Company was exempt from liability. This litigation will not affect the Company's current profit or future profit.

For details, please refer to the 2018 Annual Report of Yanzhou Coal, which was published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Company.

4. Luxing Property Co., Ltd. (“Luxing Property”) sued Yanzhou Coal for the debt assignment contract dispute

In July 2017, citing the recourse right dispute, Luxing Property appealed 7 cases against Hengfeng Company and its related companies to Jining Intermediate Court (4 cases) and Jining Rencheng District People’s Court (“Rencheng Court”) (3 cases), alleging Hengfeng Company and its related companies shall repay principle of RMB277.09 million and related interests. In view that Hengfeng Company and its related companies transferred accounts receivable of RMB352.78 million payable by Yanzhou Coal (suspect of counterfeit) to Luxing Property, Luxing Property required the Company to bear the liability of payment within the amount of the accounts receivable and related interests.

The Company applied to Jining Intermediate Court for judicial authentication of the seals and signatures of the relevant evidence. And the authentication verified that both the seals and signatures are forged.

In November 2018, the Company received the first-instance judgments from Jining Intermediate Court in relation to the 4 cases, and Yanzhou Coal won the suits.

18

In March 2019, the Company received the first-instance judgments from Rencheng District Court in relation to the 3 cases, and Yanzhou Coal won the suits.

Currently, the Company won the suits in the first trial, and it is still impossible to judge the impact of this litigation on the Company's current profit or future profit.

For details, please refer to the 2018 Annual Report of Yanzhou Coal, which was published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Company.

2.3.2 Major connected transactions

1. Related/connected transaction of commissioned management of certain associates of Yankuang Group

As reviewed and approved at the twentieth meeting of the seventh session of the Board held on 5 December 2018, the Company entered into Commissioned Management Agreement with Yankuang Group for a period from 2019 to 2020 with annual caps. The transaction pricing adopts actual cost plus reasonable profit.

In pursuant to the Commissioned Management Agreement, the Group will provide professional management over 7 subsidiaries of Yankuang Group. Yankuang Group will pay commissioned management fee of RMB7.3 million to Yanzhou Coal within one month since the issuance of the audited annual reports of the 7 companies above.

Commissioned Management Agreement will be effective since 1 January 2019.

For details, please refer to the announcement in relation to the resolutions passed at the twentieth meeting of the seventh session of the Board dated 5 December 2018 and the announcement in relation to the connected transactions of the daily operation. The above announcements were also published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Company and/or China Securities Journal, Shanghai Securities News and Securities Times in the PRC.

2. Related/connected transaction of acquiring 100% equity in Yankuang Group’s subordinates

As considered and approved at the twenty-fourth meeting of the seventh session of the Board held on 29 March 2019, Zhongyin Financial Leasing Co., Ltd, a wholly-owned subsidiary of the Company, signed the Share Transfer Agreement with Shanghai Zhouhai Property Development Co., Ltd. (" Zhouhai Company "), a wholly-owned subsidiary of Yankuang Group Co., Ltd. , and to acquire 100% equity interests in Shanghai Dongjiang Properties Development Co., Ltd held by Zhouhai Company at the consideration of RMB 185.3709 million.

For details, please refer to the announcement in relation to the related party/connected

19

transaction for the acquisition of Shanghai Dongjiang Real Estate Development Co., Ltd dated 29 March 2019. The above announcements were also published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Company and/or China Securities Journal, Shanghai Securities News and Securities Times in the PRC.

2.3.3 Other Significant Events

1. Shares Sold in Dongguan Haichang Industry Co., Ltd. (“Haichang Company”)

As considered and approved at the general manager work meeting of the Company held on 7 January 2019 and in accordance with relevant provisions specified in Capital Increase Agreement, Supplementary Agreement and Shares Repurchase Agreement between the Company and Dongguan Guantai Industry Co., Ltd. (“ Guantai Industry ”), the Company sold 20.89% shares of Haichang Company held by the Company for a consideration of RMB784 million to Dongguan Industry. As at the disclosure date of this report, the Company has received payment of RMB550 million. The Company will start to handle equity delivery procedure upon receipt of the remaining transaction payment.

2. Election of Board Director of the Company

As reviewed and approved at the twenty-fourth meeting of the seventh session of the Board held on 29 March 2019, Mr. Liu Jian was nominated as candidate for a non-independent director of the seventh session of the Board. It will also be submitted to the 2018 Annual General Meeting to be held on 24 May 2019 for consideration and approval.

For details, please refer to the announcement in relation to the resolutions passed at the twenty-fourth meeting of the seventh session of the Board and the announcement in relation to the proposed change of the Director dated 29 March 2019, which were published on the websites of the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the Company and/or China Securities Journal, Shanghai Securities News and Securities Times in the PRC.

2.4 Commitments that have not been fulfilled during the Reporting Period

Not applicable.

2.5 Statements on the warnings and reasons for the expected accumulated net profit may be negative from the beginning of 2019 till the end of the next reporting period or there might be significant changes to accumulated net profit as compared with the corresponding period of last year.

Not applicable.

§3 Directors

20

As at the date of this announcement, the directors of the Company are Mr. Li Xiyong, Mr. Li Wei, Mr. Wu Xiangqian, Mr. Wu Yuxiang, Mr. Guo Dechun, Mr. Zhao Qingchun and Mr. Guo Jun, and the independent non-executive directors of the Company are Mr. Kong Xiangguo, Mr. Cai Chang, Mr. Poon Chiu Kwok and Mr. Qi Anbang.

Yanzhou Coal Mining Company Limited Li Xiyong

Chairman of the Board 26 April 2019

21

4. Appendices

4.1 Financial statements

Consolidated Balance Sheet

31 March 2019

Prepared by: Yanzhou Coal Mining Company Limited Unit: RMB’000 Unaudited

tem	As at 31 March 2019	As at 31 December 2018
CURRENT ASSETS：
Cash and cash equivalents	27,459,951	32,722,744
Clearingsettlement funds
Lending to banks and other financial institutions
Derivative financial assets	132,423	134,544
Financial assets at FVTPL
Notes receivable & accounts receivable	7,249,147	9,157,262
Including: notes receivable	3,465,566	4,428,709
accounts receivable	3,783,581	4,728,553
Prepayments	5,912,731	3,216,896
Premiums receivable
Reinsurance accounts receivable
Reserve for reinsurance contract receivable
Other receivables	1,231,667	1,006,448
Including: interest receivable	143,705	43,949
dividends receivable		16,116
Purchase of resold financial assets
Inventories	5,641,233	5,126,622
Contract assets
Held-to-sale assets	269,650	272,902
Non-current assets due within oneyear	1,823,057	1,555,120
Other current assets	11,946,306	12,670,558
TOTAL CURRENT ASSETS	61,666,165	65,863,096
NON-CURRENT ASSETS：
Disbursement of loans and advances
Equityinvestment	265,699	266,515
Available-for-sale financial assets
Other equityinvestments
Held-to-maturityinvestments
Long-term accounts receivable	7,151,673	7,458,880
Long-term equityinvestments	16,392,965	16,683,930
Other equityinstruments investments	5,489	5,246
Other non-current financial assets	914,655	924,149
Investmentproperties	645	660
Fixed assets	42,885,681	44,293,193

22

Construction inprogress	13,062,742	13,103,580
Productive biological assets
Oilgas assets
Usufruct assets	444,644
Intangible assets	45,188,066	45,177,717
Development expenditure
Goodwill	321,873	325,634
Long-term deferred expenses	45,566	24,852
Deferred tax assets	6,546,519	7,280,332
Other non-current assets	2,144,724	2,272,116
TOTAL NON-CURRENT ASSETS	135,370,941	137,816,804
TOTAL ASSETS	197,037,106	203,679,900
CURRENT LIABILITIES:
Short-term borrowings	9,203,439	8,184,537
Borrowings from central bank
Deposit funds
Tradable financial liabilities		1,254
Financial liabilities at FVTPL
Derivative financial liability
Notespayable & accountspayable	14,002,389	13,443,952
Advances from customers
Contract liabilities	2,356,109	2,207,641
Amounts from sale of repurchased financial assets
Deposits from customers and interbank
Funds received as agent of stock exchange
Funds received as stock underwrite
Salaries and wagespayable	1,315,032	1,274,581
Taxespayable	1,247,712	1,350,505
Otherpayables	16,349,741	18,118,334
Including: interestpayable	387,377	744,857
dividendpayable	91,298	43,626
Handlingcharges and commissionspayable
Reinsurance accountspayable
Held-to-sale liabilities
Non-current liabilities due within oneyear	5,229,385	7,194,915
Other current liabilities	2,164,339	7,282,212
TOTAL CURRENT LIABILITIES	51,868,146	59,057,931
NON-CURRENT LIABILITIES:
Reserve for insurance contract
Long-term borrowings	31,474,882	33,555,869
Bondspayable	14,493,294	14,498,593

23

Including:preferred shares
perpetual bonds
Long-termpayable	286,312	355,169
Lease liabilities	179,199
Long-termsalaries and wagespayable	361,159	382,713
Estimated liabilities	2,368,336	2,229,569
Deferred revenue	95,654	97,477
Deferred tax liabilities	7,786,562	8,121,858
Other non-current liabilities	391,849	427,230
TOTAL NON-CURRENT LIABILITIES	57,437,247	59,668,478
TOTAL LIABILITIES	109,305,393	118,726,409
OWNERS' EQUITY（OR **SHAREHOLDERS' EQUITY): **
Paid-in capital(or share capital)	4,912,016	4,912,016
Other equityinstruments	10,165,194	10,316,444
Including:preferred shares
perpetual bonds	10,165,194	10,316,444
Capital reserves	1,123,920	1,123,920
Less: treasurystock
Other comprehensive income	-7,733,146	-7,772,900
Special reserves	3,357,243	3,046,388
Surplus reserves	6,224,400	6,224,400
Provision forgeneral risk
Undistributed earnings	45,439,162	43,141,500
Total owners' equity（or shareholders' equity)attributable toparent company	63,488,789	60,991,768
Minorityinterest	24,242,924	23,961,723
TOTAL OWNERS’ EQUITY (OR SHAREHOLDERS' EQUITY)	87,731,713	84,953,491
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	197,037,106	203,679,900

Legal Representative of the Company: Li Xiyong Chief Financial Officer: Zhao Qingchun Head of Accounting Department: Xu Jian

24

Balance Sheet of the Parent Company

31 March 2019

Prepared by: Yanzhou Coal Mining Company Limited Unit: RMB’000 Unaudited

Item	As at 31 March 2019	As at 31 Decemeber 2018
CURRENT ASSETS：
Cash and cash equivalents	12,126,917	17,106,509
Tradable financial assets
Financial assets at FVTPL
Derivative financial asset
Notes receivable &Accounts receivable	3,960,904	4,904,199
Including: notes receivable	3,232,124	4,124,583
Accounts receivable	728,780	779,616
Prepayments	185,565	105,675
Other receivables	37,135,233	36,309,031
Including: interests receivable	2,991,640	2,655,697
dividends receivable		16,116
Inventories	588,042	578,184
Contract assets
Held-to-sale assets
Non-current assets due within one year
Other current assets	3,047,583	3,047,583
TOTAL CURRENT ASSETS	57,044,244	62,051,181
NON-CURRENT ASSETS：
Equity investment
Available-for-sale financial assets
Other equity investment
Held-to-maturity investment
Long-term accounts receivable
Long-term equity investments	70,616,730	71,003,611
Other equity instruments investments	5,489	5,246
Other non-current financial assets
Investment properties
Fixed assets	6,377,237	9,101,922
Construction in progress	659,845	655,119
Productive biological assets

25

Oil gas assets
Usufruct assets	2,401,206
Intangible assets	1,339,386	1,384,277
Development expenditure
Goodwill
Long-term deferred expenses	13	14
Deferred tax assets	1,301,036	1,193,583
Other non-current assets	117,926	117,926
TOTAL NON-CURRENT ASSETS	82,818,868	83,461,698
TOTAL ASSETS	139,863,112	145,512,879
CURRENT LIABILITIES:
Short-term borrowings	10,170,000	6,900,000
Tradable financial liabilities
Financial liabilities at FVTPL
Derivative financial liabilities
Notes payable& accounts payable	3,469,383	3,425,208
Advances from customers
Contract Liabilities	620,476	749,246
Salaries and wages payable	535,885	522,785
Taxes payable	815,786	616,130
Other payable	9,381,635	12,552,222
Including: interest payable	694,388	953,408
dividends payable
Held-to-sale liabilities
Non-current liabilities due within one year	14,618,397	16,588,063
Other current liabilities	1,732,395	6,849,526
TOTAL CURRENT LIABILITIES	41,343,957	48,203,180
NON-CURRENT LIABILITIES:
Long-term borrowings	17,811,074	17,843,560
Bonds payable	11,509,767	11,506,367
Including: preferred share
perpetual bond
Long-term payable	77,267	2,771,710
Lease liabilities	2,531,909
Long-term salaries and wages payable

26

Estimated liabilities
Deferred revenue	51,946	53,415
Deferred tax liabilities	37,608	37,547
Other non-current liabilities
TOTAL NON-CURRENT LIABILITIES	32,019,571	32,212,599
TOTAL LIABILITIES	73,363,528	80,415,779
OWNERS' EQUITY（OR SHAREHOLDERS' **EQUITY): **
Paid-in capital (or share capital)	4,912,016	4,912,016
Other equity instruments	10,165,194	10,316,444
Including: preferred shares
perpetual bonds	10,165,194	10,316,444
Capital reserves	1,391,452	1,391,452
Less: treasury stock
Other comprehensive income	79,384	65,289
Special reserves	2,462,918	2,295,337
Surplus reserves	6,179,290	6,179,290
Undistributed earnings	41,309,330	39,937,272
TOTAL OWNERS’ EQUITY (OR SHAREHOLDERS' EQUITY)	66,499,584	65,097,100
TOTAL LIABILITIES AND OWNERS’ EQUITY(OR SHAREHOLDERS' EQUITY)	139,863,112	145,512,879

Legal Representative of the Company: Li Xiyong Chief Financial Officer: Zhao Qingchun Head of Accounting Department: Xu Jian

27

Consolidated Income Statement

The first quarter of 2019

Prepared by: Yanzhou Coal Mining Company Limited Unit: RMB’000 Unaudited

Item	The first quarter of 2019	The first quarter of 2018
I. TOTAL OPERATING INCOME	48,243,536	32,333,709
Including: Operatingincome	48,243,536	32,333,709
Interest income
Premiums income
Service charges and commissions income
II. TOTAL OPERATING COST	44,691,912	29,023,523
Including: Operatingcost	40,725,459	24,834,568
Interests expenses
Service charges and commissions expenditure
Cash surrender value
Net amount of compensationpayout
Net amount of provisions for insurance contractguarantee fund
Insurancepolicydividendpayment
Reinsurance expenses
Taxes and surcharges	530,670	667,912
Sellingexpenses	1,475,076	1,486,423
General and administrative expenses	1,118,353	1,134,375
Research and development expenses	30,877	21,809
Financial expenses	810,658	865,574
Including：interest expense	766,198	810,984
interest income	195,350	137,294
Impairment loss of assets	-7,168	12,862
Impairment loss of credit	7,987
Add: Other income	7,381	4,291
Investment income (The loss is listed beginningwith “-”)	295,772	215,104
Including: investment income from associates andjoint ventures	287,299	212,363
Exchange gains (The loss is listed beginningwith “-”)
Net exposure hedging income (The loss is listed beginningwith “-”)
Gains from change in fair value (The loss is listed beginningwith “-”)	3,859	12,458

28

Gains from disposal of assets (The loss is listed beginningwith “-”)	388	-9,084
III. Operating profit (The loss is listed beginning with “-”)	3,859,024	3,532,955
Add: Non-operatingincome	99,484	132,689
Less: Non-operatingexpenditures	43,071	51,383
IV. Total profit (The total loss is listed beginning with “-”)	3,915,437	3,614,261
Less: Income tax	898,000	867,235
V. Net profit (The net loss is listed beginning with “-”)	3,017,437	2,747,026
(I) Classified bycontinuous operation
1. Net profit from continuous operation (The net loss is listed beginningwith “-”)	3,017,437	2,747,026
2. Net profit from terminated operation (The net loss is listed beginningwith “-”)
(II) Classified byownership
1.Net profit attributable to shareholders of parent company (The net loss is listed beginningwith “-”)	2,308,395	2,227,536
2.Gains and losses of minority interest (The net loss is listed beginningwith “-”)	567,858	379,402
3.Net profit attributable to holders of other equity instruments of theparent company	141184	140088
VI. Net other comprehensive income after tax	-76,631	-2,111,744
Net other comprehensive income after tax attributable to the shareholders of theparent company	39,756	-1,332,112
(I) Other comprehensive income, which will not be reclassified into thegains and losses in future	182
1.Changes in remeasurement of defined benefit plans
2.Portion of other comprehensive income of investees not to be reclassified as profit or loss under quitymethod
3.Changes in fair value of investments in other equityinstruments	182
4.Changes in the fair value of the enterprise's own credit risk
(II) Other comprehensive income, which will be reclassified into thegains and losses in future	39,574	-1,332,112
1.Portion of other comprehensive income of investees to be reclassified as profit or loss under quity method	13,913	76,219
2.Changes in the fair value of the enterprise's own

29

credit risk
3. Gains (losses) on change of fair value of available-for-sale financial assets		-135,695
4. Financial assets reclassified to other comprehensive income
5.Gains (losses) on held-to-maturity investments reclassified as available-for-sale financial assets
6.Provision for impairment of credit for investment of other creditor right
7.Cash flow hedging reserve（The effective part of gains or losses of cash flow hedging）	66,472	-206,560
8.Exchange differences on translation	-40,811	-1,066,076
9.Others
Net other comprehensive income after tax attributable to the minorities	-116,387	-779,632
VII. Total comprehensive income	2,940,806	635,282
Total comprehensive income attributable to shareholders of theparent company	2,348,151	895,424
Total comprehensive income attributable to holders of other equityinstruments of theparent company	141,184	140,088
Total comprehensive income attributable to minority interest	451,471	-400,230
VIII. Earnings per share(RMB)
（I）Earningsper share, basic	0.4699	0.4535
（II）Earningsper share, diluted	0.4699	0.4535

Legal Representative of the Company: Li Xiyong Chief Financial Officer: Zhao Qingchun Head of Accounting Department: Xu Jian

30

Income Statement of the Parent Company

The first quarter of 2019

Prepared by: Yanzhou Coal Mining Company Limited Unit: RMB’000 Unaudit

Item	The first quarter of 2019	The first quarter of 2018
I. TOTAL OPERATING INCOME	6,161,595	5,739,073
Less: Operating cost	3,221,579	3,009,985
Taxes and surcharges	305,255	330,573
Selling expense	82,782	62,254
General and administrative expense	464,592	501,173
Research and Development expense	16,536	13,431
Financial expenses	810,161	846,824
Including: interest expenses	792,090	780,000
interest income	53,099	41,990
Impairment loss of assets
Impairment loss of credit
Add: other income	1,470	1,530
Investment income (The loss is listed beginningwith “-”)	575,252	471,064
Including: investment income from associates andjoint ventures	149,206	154,416
Net exposure hedging income (The loss is listed beginningwith “-”)
Gain from the change in fair value (The loss is listed beginningwith “-”)	3,859	12,458
Income from disposal of asset (The loss is listed beginningwith “-”)	21	-389
II. Operating profit (The loss is listed beginning with “-”)	1,841,292	1,459,496
Add: Non-operatingincome	71,401	69,762
Less: Non-operating expense	24,492	41,507
III. Total profit (The total loss is listed beginning with “-”)	1,888,201	1,487,751
Less: Income tax	374,959	390,762

31

IV. Net profit (The net loss is listed beginning with “-”)	1,513,242	1,096,989
1. Net profit from continuous operation (The net loss is listed beginningwith “-”)	1,513,242	1,096,989
2. Net profit from terminated operation (The net loss is listed beginningwith “-”)
3. Classified by ownership
(1) Net profit attributable to shareholders of the parent company	1,372,057	956,901
(2) Net profit attributed to other equity instrument holders of theparent company	141,185	140,088
V. Net other comprehensive income after tax	14,095	76,219
1.Other comprehensive income, which will not be reclassified into the gains and losses in future	182
(1) Remeasure the variation of defined benefit plans
(2) Other comprehensive income from non- transferable gains and losses under equity method
(3) Changes in fair value of investments in other equityinstruments	182
(4) Changes in the fair value of the enterprise's own credit risk
2.Other comprehensive income, which will be reclassified into thegains and losses in future	13,913	76,219
(1) Other comprehensive income from transferable gains and losses under equity method	13,913	76,219
(2) Changes in fair value of other creditor investments
(3) Changes in fair value of financial assets available for sale
(4) Financial assets reclassified to other comprehensive income
(5) Held-to-maturity investments are reclassified as gains and losses on financial assets available for sale
(6) Provision for Impairment of Credit for Investment of Other Creditor Rights
(7) Cash flow hedging reserve (Effective gains and losses from cash flow hedging)
(8)Translation balance of the foreign currency

32

financial statements
(9)Other
VI. Total comprehensive income	1,527,337	1,173,208
Total comprehensive income attributable to shareholders of theparent company	1,386,152	1,033,120
Total comprehensive income attributed to other equity instrument holders of the parent company	141,185	140,088
VII. Earnings per share(RMB)
（1）Earningsper share,basic	0.2793	0.1948
（2）Earningsper share,diluted	0.2793	0.1948

Legal Representative of the Company: Li Xiyong Chief Financial Officer: Zhao Qingchun Head of Accounting Department: Xu Jian

33

Consolidated Cash Flow Statement

The first quarter of 2019

Prepared by: Yanzhou Coal Mining Company Limited Unit: RMB’000 Unaudit

Item	The first quarter of 2019	The first quarter of 2018
1.CASH FLOW FROM OPERATING ACTIVITIES：
Cash received from sales of goods or rendering of services	52,758,824	37,703,830
Net increase in customer’s deposits and financial institution deposits
Net increase in borrowings from central bank
Net increase in borrowings from other financial institutions
Cash premiums received on original insurance contracts
Net cash received from re-insurance business
Net increase in deposits and investments from insurers
Cash received from interests, service charge and commissions
Net increase in loans from other banks and other financial institutions
Net increase from repurchasingbusiness funds
Net cash received from agent in buying and selling securities
Tax refunds	169,364	125,841
Other cash received relatingto operatingactivities	2,416,147	1,784,625
Sub-total of cash inflows from operatingactivities	55,344,335	39,614,296
Cashpaid forgoods and servicespurchased	43,127,799	29,316,176
Net increase in loans and advance from customers
Net increase in deposits in central bank and other financial institutions
Cashpaid for former insurance contracts claims
Net increase in financial assets held for trading purposes
Net increase in loans to other banks and other financial institutions
Cash paid for interests, service charge and commissions

34

Cashpaid for insurancepolicydividends
Cash paid to employees and on behalf of employees	2,811,341	2,522,100
Taxespayments	2,541,869	2,151,936
Other cashpaid relatingto operatingactivities	2,438,851	2,353,922
Sub-total of cash outflows from operating activities	50,919,860	36,344,134
NET CASH FLOW FROM OPERATING ACTIVITIES	4,424,475	3,270,162
2.CASH FLOW FROM INVESTMENT ACTIVITIES:
Cash received from recoveryof investments	1,228,917	277,253
Cash received from return of investments income	204,718	131,675
Net cash received from disposal of fixed assets, intangible assets and other long-term assets	4,194	2,818
Net cash received from disposal of subsidiaries and other business units
Other cash received relatingto investingactivities		569,832
Sub-total of cash inflows from investingactivities	1,437,829	981,578
Cash paid to acquire fixed assets, intangible assets and other long-term assets	3,370,360	2,268,913
Cashpaid for investments		1,647,060
Net increase ofpledge loans
Net cash amounts paid for acquisition of subsidiaries and other business units		1,534,263
Other cash paid relating to investment activities	777,992
Sub-total of cash outflows from investingactivities	4,148,352	5,450,236
NET CASH FLOW FROM INVESTMENT ACTIVITIES	-2,710,523	-4,468,658
3.CASH FLOW FROM FINANCING ACTIVITIES:
Cash received from investors		8,230,500
Including: cash received from minority shareholders of subsidiaries
cash received from the issuance of other equityinstruments		4,962,500
cash received from borrowings	6,447,082	6,430,558
cash received from bonds issuance
Other cash received relatingto financingactivities
Sub–total of cash inflows from financingactivities	6,447,082	14,661,058
Repayments of borrowings and debts	11,921,962	6,522,156
Cash paid for distribution of dividends or profits, or cashpaid for interest expenses	2,081,734	1,057,340

35

Including: cash paid for distribution of dividends orprofits bysubsidiaries to minorityshareholders	124,000
Other cash paid relating to financing activities	600,000
Sub-total of cash outflows from financing activities	14,603,696	7,579,496
NET CASH FLOW FROM FINANCING ACTIVITIES	-8,156,614	7,081,562
4. EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	-217,348	-199,151
5. NET INCREASE ON CASH AND CASH EQUIVALENTS	-6,660,010	5,683,915
Add: Cash and cash equivalents,opening	27,396,126	21,073,256
6. CASH AND CASH EQUIVALENTS, CLOSING	20,736,116	26,757,171

Legal Representative of the Company: Li Xiyong Chief Financial Officer: Zhao Qingchun Head of Accounting Department: Xu Jian

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Cash Flow Statement of the Parent Company

The first quarter of 2019

Prepared by: Yanzhou Coal Mining Company Limited Unit: RMB’000 Unaudited

Item	The first quarter of 2019	The first quarter of 2018
1.CASH FLOW FROM OPERATING ACTIVITIES：
Cash received from sales of goods and renderingof services	6,707,688	6,275,675
Tax refunding
Other cash received relating to operating activities	136,252	272,505
Sub-total of cash inflows from operating activities	6,843,940	6,548,180
Cashpaid forgoods and services	1,824,970	2,697,996
Cashpaid to and on behalf of employees	1,320,709	1,201,779
Taxespayments	1,547,802	1,316,706
Other cash paid relating to operating activities	138,977	262,370
Sub-total of cash outflows from operating activities	4,832,458	5,478,851
NET CASH FLOW FROM OPERATING ACTIVITIES	2,011,482	1,069,329
2. CASH FLOW FROM INVESTMENT ACTIVITIES:
Cash received from recoveryof investments	550,000	607,000
Cash received from return of investments	159,318	15,000
Net cash received from disposal of fixed assets, intangible assets and other long-term assets	1,778
Net cash amount received from the disposal of subsidiaries and other business units
Other cash received relating to investment activities	398,653	569,832
Sub-total of cash inflows from investment activities	1,109,749	1,191,832
Cash paid to acquire fixed assets, intangible assets and other long-term assets	4,726	216
Cashpaid for investments
Net cash paid for the acquisition of subsidiaries and other business units
Other cashpaid relatingto investment	1,317,339	1,230,956

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activities
Sub-total of cash outflows from investment activities	1,322,065	1,231,172
NET CASH FLOW FROM INVESTMENT ACTIVITIES	-212,316	-39,340
3.CASH FLOW FROM FINANCING ACTIVITIES:
Cash received from investors		7,462,500
Cash received from borrowings	5,908,240	3,400,000
Cash received relating to other financing activities
Sub–total of cash inflows from financing activities	5,908,240	10,862,500
Repayments of borrowings	9,041,994	3,503,000
Cash paid for distribution of dividends or profits,or cashpaid for interest expenses	1,302,897	598,494
Other cash payment relating to financing activities	2,732,594
Sub-total of cash outflows from financing activities	13,077,485	4,101,494
NET CASH FLOW FROM FINANCING ACTIVITIES	-7,169,245	6,761,006
4. EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	268	-65,385
5. NET INCREASE ON CASH AND CASH EQUIVALENTS	-5,369,811	7,725,610
Add: Cash and cash equivalents,opening	13,653,633	10,022,233
6. CASH AND CASH EQUIVALENTS, CLOSING	8,283,822	17,747,843

Legal Representative of the Company: Li Xiyong Chief Financial Officer: Zhao Qingchun Head of Accounting Department: Xu Jian

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4.2 Adjustment to the opening balance for relevant items in the financial statements due to the application of the new financial instruments standards, new income standards, new lease standards

Consolidated Balance Sheet

		Unit: RMB’000	Unit: RMB’000
Item	As at 31 December 2018	As at 1 January 2019	Adjustments
CURRENT ASSETS：
Cash at bank and on hand	32,722,744	32,722,744
Excess reserves settlement
Lendingfunds
Tradable Financial assets	134,544	134,544
Financial assets at FVTPL
Derivative financial assets
Notes receivable and accounts receivable	9,157,262	9,157,262
Including: notes receivable	4,428,709	4,428,709
accounts receivable	4,728,553	4,728,553
Prepayments	3,216,896	3,216,896
Premiums receivable
Reinsurance accounts receivable
Reserve for reinsurance contract receivable
Other receivables	1,006,448	1,006,448
Including: interest receivable	43,949	43,949
dividend receivable	16,116	16,116
Purchase of resold financial assets
Inventories	5,126,622	5,126,622
Contract assets
Held-to-sale assets	272,902	272,902
Non-current assets due within one year	1,555,120	1,555,120
Other current assets	12,670,558	12,670,558
TOTAL CURRENT ASSETS	65,863,096	65,863,096
NON-CURRENT ASSETS：
Disbursement of loans and advances
Debt investment	266,515	266,515

39

Available-for-sale financial assets
Other debt investment
Held-to-maturityinvestments
Long-term accounts receivable	7,458,880	7,458,880
Long-term equityinvestments	16,683,930	16,683,930
Other equityinvestment	5,246	5,246
Other non-current financial assets	924,149	924,149
Real estate investment	660	660
Fixed assets	44,293,193	44,090,543	-202,650
Construction inprogress	13,103,580	13,103,580
Productive biological assets
Oilgas assets
Usufruct assets		455,497	455,497
Intangible assets	45,177,717	45,177,717
Development expenditure
Goodwill	325,634	325,634
Long-term deferred expenses	24,852	24,852
Deferred tax assets	7,280,332	7,280,332
Other non-current assets	2,272,116	2,272,116
TOTAL NON-CURRENT ASSETS	137,816,804	138,069,651	252,847
TOTAL ASSETS	203,679,900	203,932,747	252,847
CURRENT LIABILITIES:
Short-term borrowings	8,184,537	8,184,537
Borrowings from central bank
Borrowingfunds
Tradable financial liabilities	1,254	1,254
Financial liabilities at FVTPL
Derivative financial liability
Notes payable and accounts payable	13,443,952	13,443,952
Advancepayment
Contract liabilities	2,207,641	2,207,641
Amounts from sale of repurchased financial assets
Absorbing deposits and interbank deposits
Actingtradingsecurities
Actingunderwritingsecurities
Salaries and wagespayable	1,274,581	1,274,581
Taxespayable	1,350,505	1,350,505
Otherpayables	18,118,334	18,118,334
Including: interestpayable	744,857	744,857

40

dividendpayable	43,626	43,626
Service charge and commissions payable
Reinsurance accountspayable
Held-to-sale liabilities
Non-current liabilities due within oneyear	7,194,915	7,263,224	68,309
Other current liabilities	7,282,212	7,282,212
TOTAL CURRENT LIABILITIES	59,057,931	59,126,240	68,309
NON-CURRENT LIABILITIES:
Insurance contract reserve
Long-term borrowings	33,555,869	33,555,869
Bondspayable	14,498,593	14,498,593
Including:preferred shares
perpetual bonds
Long-termpayables	355,169	213,583	-141,586
Lease liability		326,124	326,124
Long-term salaries and wages payable	382,713	382,713
Estimated liabilities	2,229,569	2,229,569
Deferred revenue	97,477	97,477
Deferred tax liabilities	8,121,858	8,121,858
Other non-current liabilities	427,230	427,230
TOTAL NON-CURRENT LIABILITIES	59,668,478	59,853,016	184,538
TOTAL LIABILITIES	118,726,409	118,979,256	252,847
**OWNER'S EQUITY(OR SHAREHOLDERS' EQUITY): **
Paid-upcapital(or share capital)	4,912,016	4,912,016
Other equityinstruments	10,316,444	10,316,444
Including:preferred shares
perpetual bonds	10,316,444	10,316,444
Capital reserves	1,123,920	1,123,920
Less: treasurystock
Other comprehensive income	-7,772,900	-7,772,900
Special reserves	3,046,388	3,046,388
Surplus reserves	6,224,400	6,224,400
Provision forgeneral risk
Undistributed earnings	43,141,500	43,141,500
Equity attributable to shareholders of theparent company	60,991,768	60,991,768
Minorityinterest	23,961,723	23,961,723
TOTAL OWNER’S EQUITY (OR SHAREHOLDERS' EQUITY)	84,953,491	84,953,491

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TOTAL LIABILITIES AND OWNER’S EQUITY (OR SHAREHOLDERS' EQUITY)	203,679,900	203,932,747	252,847

Explanations on the adjustments of certain items:

The Group has applied the “Accounting Standards for Business Enterprises No. 21 – Leases (Amendment)” (hereinafter referred to as the “New Lease Guidelines”) since 1 January 2019. According to the new lease standard, the lessee no longer categorizes the lease into an operating lease or a finance lease, but adopts a unified accounting treatment model. The Group has adjusted the opening balance for relevant items in the financial statements at the beginning of the year based on the cumulative impact of adoption of the new leasing standard for the first time, and no adjustment was made on the information for the comparable period.

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Balance Sheet of the Parent Company

Unit: RMB’000

Item	As at 31 December 2018	As at 1 January 2019	Adjustments
CURRENT ASSETS：
Cash at bank and on hand	17,106,509	17,106,509
Tradable Financial assets
Financial assets at FVTPL
Derivative financial assets
Notes receivable and accounts receivable	4,904,199	4,904,199
Including: notes receivable	4,124,583	4,124,583
accounts receivable	779,616	779,616
Prepayments	105,675	105,675
Other receivables	36,309,031	36,309,031
Including: interest receivable	2,655,697	2,655,697
dividend receivable	16,116	16,116
Inventories	578,184	578,184
Contract assets
Held-to-sale assets
Non-current assets due within oneyear
Other current assets	3,047,583	3,047,583
TOTAL CURRENT ASSETS	62,051,181	62,051,181
NON-CURRENT ASSETS：
Debt investment
Available-for-sale financial assets
Other debt investment
Held-to-maturityinvestments
Long-term accounts receivable
Long-term equityinvestments	71,003,611	71,003,611
Other equity instruments investment	5,246	5,246
Other non-current financial assets
Real estate investment
Fixed assets	9,101,922	6,628,075	-2,473,847
Construction inprogress	655,119	655,119
Productive biological assets

43

Oilgas assets
Usufruct assets		2,473,847	2,473,847
Intangible assets	1,384,277	1,384,277
Development expenditure
Goodwill
Long-term deferred expenses	14	14
Deferred tax assets	1,193,583	1,193,583
Other non-current assets	117,926	117,926
TOTAL NON-CURRENT ASSETS	83,461,698	83,461,698
TOTAL ASSETS	145,512,879	145,512,879
CURRENT LIABILITIES:
Short-term borrowings	6,900,000	6,900,000
Tradable financial liabilities
Financial liabilities at FVTPL
Derivative financial liability
Notes payable and accounts payable	3,425,208	3,425,208
Advancepayment
Contract liabilities	749,246	749,246
Salaries and wagespayable	522,785	522,785
Taxespayable	616,130	616,130
Otherpayables	12,552,222	12,552,222
Including: interestpayable	953,408	953,408
dividendpayable
Held-to-sale liabilities
Non-current liabilities due within oneyear	16,588,063	16,588,063
Other current liabilities	6,849,526	6,849,526
TOTAL CURRENT LIABILITIES	48,203,180	48,203,180
NON-CURRENT LIABILITIES:
Long-term borrowings	17,843,560	17,843,560
Bondspayable	11,506,367	11,506,367
Including:preferred shares
perpetual bonds
Long-termpayables	2,771,710	83,997	-2,687,713
Lease liability		2,687,713	2,687,713
Long-term salaries and wages payable
Estimated liabilities
Deferred revenue	53,415	53,415
Deferred tax liabilities	37,547	37,547

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Other non-current liabilities
TOTAL NON-CURRENT LIABILITIES	32,212,599	32,212,599
TOTAL LIABILITIES	80,415,779	80,415,779
**OWNER'S EQUITY(OR SHAREHOLDERS' EQUITY): **
Paid-up capital (or share capital)	4,912,016	4,912,016
Other equityinstruments	10,316,444	10,316,444
Including:preferred shares
perpetual bonds	10,316,444	10,316,444
Capital reserves	1,391,452	1,391,452
Less: treasurystock
Other comprehensive income	65,289	65,289
Special reserves	2,295,337	2,295,337
Surplus reserves	6,179,290	6,179,290
Undistributed earnings	39,937,272	39,937,272
TOTAL OWNER’S EQUITY (OR SHAREHOLDERS' EQUITY)	65,097,100	65,097,100
TOTAL LIABILITIES AND OWNER’S EQUITY (OR SHAREHOLDERS' EQUITY)	145,512,879	145,512,879

Explanations on the adjustments of certain items:

The Group has applied the “Accounting Standards for Business Enterprises No. 21 – Leases (Amendment)” (hereinafter referred to as the “New Lease Guidelines”) since 1 January 2019. According to the new lease standard, the lessee no longer categorizes the lease into an operating lease or a finance lease, but adopts a unified accounting treatment model. The Group has adjusted the opening balance for relevant items in the financial statements at the beginning of the year based on the cumulative impact of adoption of the new leasing standard for the first time, and no adjustment was made on the information for the comparable period.

• 4.3 Explanation on the retrospective adjustments of the previous comparison data due to the first-time application of the new financial instrument standards and the new lease standards

The Group has adjusted the opening balance for relevant items in the financial statements at the beginning of the year based on the cumulative impact of adoption of the new leasing standard for the first time, and no adjustment was made on the information for the comparable period.

4.4 Audit report

Not Applicable.

45