CStone Pharmaceuticals — Interim / Quarterly Report 2020

Oct 23, 2020

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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兗州煤業股份有限公司

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 THIRD QUARTER OF 2020

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 (the “ Board ”) of directors (the “Directors” ), 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 results report for the third quarter of 2020 of the Company (the “ Report ”) was considered and approved by the sixth meeting of the eighth session of the Board and all the 10 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 July 2020 to 30 September 2020.

“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,

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accuracy and completeness of the financial statements in this Report.

Summary of the unaudited results of the Group for the third quarter ended 30 September 2020	Summary of the unaudited results of the Group for the third quarter ended 30 September 2020
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 three quarters of 2020, the operating income of the Group was RMB154.15
	billion, representing an increase of RMB3.536 billion or 2.3% as compared with the
	corresponding period of last year. Net profit attributable to the shareholders of listed
	company was RMB5.69 billion, representing an decrease of RMB1.293 billion or 18.5% as
	compared with the corresponding period of the previous 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 Financial Data

Unit: RMB’000

			Unit: RMB’000
	As at the end of the Reporting Period	As at the end of the previous year	Increase/decrease at the end of the Reporting Period as compared with the end of the previous year（%）
Total assets	218,920,237	207,821,363	5.34
Net assets attributable to the shareholders of listed company	61,439,053	63,291,840	-2.93
	From the beginning of the year to the end of the Reporting Period (January-September)	From the beginning of the previous year till the end of the Reporting Period of previous year (January-September)	Increase/decrease for the Reporting Period as compared with the corresponding period of the previous year (%)
Net cash flows from operatingactivities	6,188,290	14,833,159	-58.28
Net cash flows from operating activities deducting the amount impact by Yankuang Finance Company	8,964,857	12,653,270	-29.15
	From the beginning of the year to the end of the Reporting Period (January-September)	From the beginning of previous year till the end of the Reporting Period of the previous year (January-September)	Increase/decrease for the Reporting Period as compared with the corresponding period of the previous year (%)
Operatingincome	154,146,966	150,611,076	2.35
Net profit attributable to the shareholders of listed company	5,690,486	6,983,703	-18.52
Net profit attributable to the shareholders of listed company after deducting extraordinary profits and losses	3,615,854	6,648,709	-45.62

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Weighted average return on net assets (%)	8.55	10.71	Decreased 2.16 percentage points
Basic earnings per share(RMB)	1.1640	1.4218	-18.13
Diluted earnings per share(RMB)	1.1640	1.4218	-18.13

Note: The Company newly consolidated the financial statements of Qingdao Duanxin Assets Management Co., Ltd. and Yankuang Intelligent Ecology Co., Ltd. during the Reporting Period.

Extraordinary profit and loss items and amounts

		Unit: RMB’000
Items	Amount for the Reporting Period (July-September)	Amount for the period from the beginning of the year to the end of the Reporting Period (January-September)
Profit and loss on disposals of non-current assets	-49,417	-49,359
Government grants recognized as current profit or loss, except those grants 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	12,339	76,036
Income from where the investment cost of the Company’s subsidiaries, associates and joint ventures less than the fair value of recognizable net assets of the investee	-1,186	3,853,675
Except effective hedging businesses that relate to the Company's ordinary operating operations, profit 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.	-34,776	27,365
Refund of provision for impairment of individual payables for impairment test and contract asset	23,240	71,126

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Profit or loss from external entrusted loans	0	55
Profits or loss from the fair value change of investment on real estate which is subsequently measured bythe fair value model	0	9,606
Other non-operating income and expenses excludingthe abovementioned items	43,522	122,062
Other profit and loss items that meet the definition of non-recurring profit and loss	-418,603	-815,130
Effect of the equity of minority shareholders (after tax)	126,857	-1,186,672
Effect of income tax	34,590	-34,132
Total	-263,434	2,074,632

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							83,897
	Shareholdings of the top ten Shareholders
Name of Shareholders (Full name)	Number of shares held at the end of the Reporting Period	Percentag e holding of the total share capital (%)	Number of shares held subject to trading moratorium		Number of pledged or locked shares		Nature of Shareholders
					Status of shares	Number of shares
Yankuang Group Co., LTD (“Yankuang Group”)	2,267,169,423	46.65	0		No	0	State-owned legalperson
Hong Kong Securities Clearing Company (Nominees)Limited	1,895,673,203	39.01	0		Unknown	-	Overseas legal person
Hong Kong Securities ClearingCompanyLimited	59,788,963	1.23	0		No	0	Overseas legal person
Central Huijin Asset Management Co., Ltd.	19,355,100	0.40	0		No	0	State-owned legalperson
Bejing Chengtong Jinkong Investment Co., Ltd	7,523,700	0.15	0		No	0	State-owned legalperson
Yu Suzhen	5,070,301	0.10	0		No	0	Domestic natural person

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Shandong Jindun Energy Co., Ltd	4,988,685	4,988,685	0.10	0	0	No	No	0	Domestic non- state-owned pe rson
Bank of China-Huabao Standard & Poor’s China A shares Dividends Index Securities Investment Fund (LOF)	4,205,100		0.09	0		No		0	Others
Cui Lin	4,000,000		0.08	0		No		0	Domestic natural person
Zhang Weishi	3,267,347		0.07	0		No		0	Domestic natural person
Top ten Shareholders holding tradable shares not subject to trading moratorium
Name of Shareholders		Number of tradable shares held not subject to trading moratorium at the end of the Reporting Period			Class and number of shares held
					Class of shares		Number of shares
YankuangGroupCo., LTD		2,267,169,423			A Shares		2,267,169,423
Hong Kong Securities Clearing Company (Nominees)Limited		1,895,673,203			H Shares		1,895,673,203
Hong Kong Securities Clearing Company Limited		59,788,963			A Shares		59,788,963
Central Huijin Asset Management Co., Ltd.		19,355,100			A Shares		19,355,100
Bejing Chengtong Jinkong Investment Co., Ltd		7,523,700			A Shares		7,523,700
Yu Suzhen		5,070,301			A Shares		5,070,301
ShandongJindun EnergyCo., Ltd		4,988,685			A Shares		4,988,685
Bank of China-Huabao Standard & Poor’s China A shares Dividends Index Securities Investment Fund(LOF)		4,205,100			A Shares		4,205,100
Cui Lin		4,000,000			A Shares		4,000,000
ZhangWeishi		3,267,347			A Shares		3,267,347
Related relationship or concerted-party relationship among the above Shareholders		Yankuang Group (Hong Kong) Company Limited (“Yankuang Hong Kong”), a 100% subsidiary of Yankuang Group held 455 million H shares through Hong Kong Securities Clearing Company (Nominees) Limited. Save as disclosed above, it is unknown whether other shareholders are connected with one another or whether any of these shareholders fall within the meaning of parties acting in concert.

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Illustration of preferred shareholders with recovered voting rights and the number of Not applicable. shares held by them

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 the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. and Hong Kong Securities Registration Co., Ltd.

2. As the clearing and settlement agent for the Company’s H shares, Hong Kong Securities Clearing Company (Nominees) Limited holds the Company’s H shares in the capacity of a nominee. Hong Kong Securities Clearing Company Limited is the nominal holder of the shares of the Company in the Shanghai Connect.

3. As at 30 September 2020, 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; Yankuang Group held 454,989,000 H shares of the Company through Yankuang Hong Kong. Yankuang Group directly and indirectly held 56.01% shares of the Company.

Substantial Shareholders’ Interests and/or 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 30 September 2020, 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 Interest	Percentage in the H Share Capital of the Company	Percentage in Total Share Capital of the Company
Yankuang Group	A Shares (State-ow ned legal person	Beneficial owner	2,267,169,423	Long position	-	46.65%
		Beneficial owner	391,507,272	Short position	-	8.06%

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	shares)
Yankuang Group①	H Shares	Interest of controlled corporations	454,989,000	Long position	23.95%	9.36%
BNP Paribas Investment Partners SA	H Shares	Investment manager	117,641,207	Long position	6.19%	2.42%

Note：

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. 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 Total number of Preferred Shareholders at the end of the Reporting Period, the top ten Shareholders holding preferred shares and the top ten Shareholders holding preferred shares not subject to trading moratorium

Not applicable.

2 SIGNIFICANT MATTERS

2.1General Operating Performance of the Group

2.1.1 Major operating data of main products and services

Item	The thirdquarter	The thirdquarter	The thirdquarter	The first threequarters	The first threequarters	The first threequarters
	2020	2019	Increase/ Decrease (%)	2020	2019	Increase/ Decrease (%)
1.Coal business（kiloton）
Saleable coal production	26,864	22,384	20.02	76,972	69,375	10.95
Sales volume of saleable coal	36,186	28,705	26.06	103,806	83,992	23.59
2.RailwayTransportation Business（kiloton）
Transportation volume	4,513	4,440	1.65	13,414	14,834	-9.57
3.Coal Chemicals Business（kiloton）
Methanol production	405	429	-5.65	1,340	1,274	5.13
Methanol sales volume	416	454	-8.47	1,350	1,288	4.76

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4.Electricalpower business		(10,000kWh)
Powergeneration	74,210	58,585	26.67	215,911	190,674	13.24
Electricitysold	48,454	37,525	29.12	137,891	116,852	18.00

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 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 of the Group by segment

1. Coal business

1) Coal production

During the first three quarters of 2020, the Group produced 76.97 million tons of saleable coal, representing an increase of 7.6 million tons or 11.0% as compared with the corresponding period of the previous year.

The following table sets out the saleable coal production of the Group for the first three quarters of 2020:

Unit: kiloton

2020:				Unit: kiloton	Unit: kiloton	Unit: kiloton
Item	The thirdquarter			The first threequarters
	2020	2019	Increase/ Decrease (%)	2020	2019	Increase/ Decrease (%)
The Company	7,813	7,419	5.31	23,544	23,079	2.01
Shanxi NengHua①	417	447	-6.62	1,167	1,286	-9.20
Heze NengHua②	844	640	31.84	2,440	1,875	30.13
Ordos NengHua③	3,642	2,762	31.86	11,083	10,205	8.60
HaoshengCompany④	2,556	1,375	85.98	6,033	2,564	135.33
Yancoal Australia⑤	10,186	8,297	22.77	28,614	26,146	9.44
Yancoal International⑥	1,405	1,444	-2.67	4,091	4,220	-3.05
Total	26,864	22,384	20.02	76,972	69,375	10.95

Note:

• ① “Shanxi Neng Hua” means Yanzhou Coal Shanxi Neng Hua Company Limited.

• ② “Heze Neng Hua” means Yanmei Heze Neng Hua Company Limited. The saleable coal of Heze Neng Hua increased as compared with the same period of the previous year, which is mainly because that the production for the first three quarters of year 2019 was below the normal level due to the complicated geological condition.

• ③ “Ordos Neng Hua” means Yanzhou Coal Ordos Neng Hua Company Limited.

• ④ “Haosheng Company” means Inner Mongolia Haosheng Coal Mining Company Limited. The saleable coal production of Haosheng Company increased as compared with the same period of the previous year, which was mainly because that the coal production of Shilawusu coal mine was constrained by safety and environment protection policies during the first three quarters of 2019.

• ⑤ “Yancoal Australia” means Yancoal Australia Limited.

• ⑥ “Yancoal International” means Yancoal International (Holding) Company Limited.

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2) Coal price and sales

During the first three quarters of 2020, the Group sold 103.81 million tons of saleable, representing an increase of 19.81 million tons or 23.6% as compared with the corresponding period of the previous year.

The following table sets out the Group’s production and sales of saleable coal by coal types for the first three quarters of 2020:

	The first threequarters of 2020	The first threequarters of 2020	The first threequarters of 2020	The first threequarters of 2019	The first threequarters of 2019	The first threequarters of 2019
	Production	Sales volume	Salesprice	Production	Sales volume	Salesprice
	（kiloton）	（kiloton）	（RMB/ton）	（kiloton）	（kiloton）	（RMB/ton）
1.The Company	23,544	23,774	516.37	23,079	23,034	652.97
No.1 clean coal	533	561	754.39	866	876	951.36
No.2 clean coal	6,475	6,694	691.05	7,315	7,425	892.64
No.3 clean coal	2,561	2,642	542.11	1,937	1,970	680.69
Lump coal	1,748	1,834	589.44	1,655	1,724	747.22
Sub-total of clean coal	11,317	11,731	644.65	11,773	11,995	841.21
Screened raw coal	12,227	12,043	391.42	11,306	11,039	448.43
II. Shanxi NengHua	1,167	1,193	270.69	1,286	1,283	319.51
Screened raw coal	1,167	1,193	270.69	1,286	1,283	319.51
III. Heze NengHua	2,440	2,346	866.55	1,875	1,512	1,108.50
No.2 clean coal	1,882	2,006	952.54	1,581	1,451	1,138.23
Screened raw coal	558	340	359.66	294	61	394.79
IV. Ordos NengHua	11,083	9,186	239.48	10,205	8,894	262.86
Screened raw coal	11,083	9,186	239.48	10,205	8,894	262.86
V. Haosheng Company	6,033	6,050	283.29	2,564	2,547	310.73
Screened raw coal	6,033	6,050	283.29	2,564	2,547	310.73
VI. Yancoal Australia	28,614	27,847	424.14	26,146	24,897	553.60

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Semi-hard cokingcoal	116	113	714.61	134	127	878.59
Semi-soft cokingcoal	1,232	1,199	644.17	2,364	2,251	818.48
PCI coal	1,660	1,616	645.83	1,761	1,677	864.11
Thermal coal	25,606	24,920	397.87	21,887	20,842	498.02
VII.Yancoal International	4,091	4,088	348.70	4,220	4,159	373.57
Thermal coal	4,091	4,088	348.70	4,220	4,159	373.57
VIII. Traded coal	-	29,321	616.89	-	17,666	624.15
IX. Total for the Group	76,972	103,806	480.42	69,375	83,992	555.04

3) Sales cost of coal

The Group’s sales cost of coal for the first three quarters of 2020 was RMB36.256 billion, representing an increase of RMB8.146 billion or 29.0% as compared with the corresponding period of the previous year. This is mainly due to the increase in sales of traded coal.

	Items	Unit	The first threequarters	The first threequarters	The first threequarters
			2020	2019	Increase/ decrease (%)
The Company	Total cost of sales	RMB million	6,073	6,210	-2.21
	Cost of sales per ton	RMB/ ton	254.98	268.17	-4.92
Shanxi Neng Hua	Total cost of sales	RMB million	252	281	-10.29
	Cost of sales per ton	RMB/ ton	211.21	218.92	-3.52
Heze Neng Hua	Total cost of sales	RMB million	1,045	880	18.68
	Cost of sales per ton	RMB/ ton	407.38	515.22	-20.93
Ordos Neng Hua	Total cost of sales	RMB million	1,469	1,599	-8.11
	Cost of sales per ton	RMB/ ton	159.91	179.75	-11.04
Haosheng Company	Total cost of sales	RMB million	984	756	30.15

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	Cost of sales per ton	RMB/ ton	162.71	297.02	-45.22
Yancoal Australia	Total cost of sales	RMB million	8,020	7,000	14.58
	Cost of sales per ton	RMB/ ton	288.00	281.14	2.44
Yancoal International	Total cost of sales	RMB million	1,003	947	5.95
	Cost of sales per ton	RMB/ ton	245.38	227.65	7.79
Traded Coal	Total cost of sales	RMB million	17,579	10,714	64.07
	Cost of sales per ton	RMB/ ton	599.54	606.50	-1.15

The reason of changes in the cost of coal sales per ton of Haosheng Company was due to that the increase of sales volume of saleable coal caused the decrease in cost of sales per ton.

2. Railway transportation business

For the first three quarters of 2020, the transportation volume of the Group’s Railway Assets was 13.41 million tons, representing a decrease of 1.42 million tons or 9.6% as compared with the corresponding period of the previous year. As a result, the income from railway transportation services of the Company was RMB282 million for the first three quarters of 2020, representing a decrease of RMB20.736 million or 6.9% as compared with the corresponding period of the previous year. The cost of railway transportation business was RMB140 million, representing an increase of RMB11.366 million or 8.9% as compared with the corresponding period of the previous year.

3. Coal chemicals business

The following tables set out the operation of methanol business of the Group for the first three quarters of 2020:

	Methanol production (kiloton)	Methanol production (kiloton)	Methanol production (kiloton)	Methanol sales volume (kiloton)	Methanol sales volume (kiloton)	Methanol sales volume (kiloton)
	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)
1.Yulin Neng Hua	548	522	4.89	531	538	-1.22
2.Ordos Neng Hua	792	752	5.30	818	750	9.04

Note: “Yulin Neng Hua” means Yanzhou Coal Yulin Neng Hua Company Limited.

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	Sales income (RMB’000)	Sales income (RMB’000)	Sales income (RMB’000)	Sales cost (RMB’000)	Sales cost (RMB’000)	Sales cost (RMB’000)
	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)
1.Yulin Neng Hua	669,881	883,725	-24.20	584,453	763,810	-23.48
2.Ordos Neng Hua	1,023,625	1,204,783	-15.04	568,466	888,408	-36.01

4. Power business

The following tables set out the operation of the Group’s power business for the first three quarters of 2020:

	Power Generation (10,000kWh)	Power Generation (10,000kWh)	Power Generation (10,000kWh)	Power sales volume (10,000kWh)	Power sales volume (10,000kWh)	Power sales volume (10,000kWh)
	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)
1.Hua Ju Energy	61,450	60,810	1.05	21,360	17,983	18.78
2.Yulin Neng Hua	23,971	19,790	21.13	1,407	1,261	11.58
3.Heze Neng Hua	130,489	110,074	18.55	115,124	97,608	17.95

	Sales income (RMB’000)	Sales income (RMB’000)	Sales income (RMB’000)	Sales cost (RMB’000)	Sales cost (RMB’000)	Sales cost (RMB’000)
	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)
1.Hua Ju Energy	87,948	70,734	24.34	70,459	59,600	18.22
2.Yulin Neng Hua	2,717	2,408	12.83	3,747	5,042	-25.68
3.Heze Neng Hua	400,243	339,141	18.02	275,581	283,007	-2.62

Note: “Hua Ju Energy” means Shandong Hua Ju Energy Company Limited.

5. Heat business

The Group generated heat energy of 800 thousand steam tons and sold 200 thousand steam tons for the first three quarters of 2020, recording the sales income of RMB20.955 million, with the sales cost of RMB13.365 million.

• 6.Electrical and Mechanical Equipment Manufacturing Business

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For the first three quarters of 2020, the Group’s electrical and mechanical equipment manufacturing business recorded sales income of RMB402 million, with sales cost of RMB336 million.

7. Non-coal trading business

For the first three quarters of 2020, the Group’s non-coal trading business recorded sales income of RMB98.38 billion, with sales cost of RMB98.058 billion.

8. Equity Investment Business

For the first three quarters of 2020, the Group’s equity investment business recorded income RMB4.267 billion.

2.1.3 The operation of Yankuang Finance Company Limited (“Yankuang Finance Company”) during the Reporting Period

Unit: RMB million

			Unit: RMB million
	The first three quarters of 2020	The first three quarters of 2019	Increase/ decrease (%)
Operatingincome	426	368	15.87
Netprofit	178	142	24.83
	30 September 2020	31 December 2019	Increase/ decrease(%)
Net assets	3,327	3,149	5.64
Total assets	23,559	24,694	-4.60

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

	30 September 2020	30 September 2020	31 December 2019	31 December 2019	Increase/decrease （%）
	(RMB million)	Percentage of total assets（%）	(RMB million)	Percentage of total assets（%）
Accounts receivable	7,114	3.25	4,495	2.16	58.26
Prepayments	4,879	2.23	3,484	1.68	40.04
Other receivables	3,888	1.78	3,043	1.46	27.76
Short-term borrowings	17,124	7.82	8,748	4.21	95.76
Contract liabilities	4,061	1.85	2,717	1.31	49.43
Non-current liabilities due within oneyear	7,596	3.47	12,181	5.86	-37.64
Other current liabilities	3,999	1.83	2,999	1.44	33.35

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Longterm borrowings	32,773	14.97	26,134	12.58	25.41
Deferred income tax liabilities	4,269	1.95	3,301	1.59	29.32
Other equityinstruments	5,141	2.35	10,312	4.96	-50.14

Explanations for changes in accounts receivable: 1. The accounts receivable of the Company increased by RMB200 million over the beginning of the year; 2. The accounts receivable of Yankuang (Hainan) Intelligent Logistics Technology Co., Ltd. ("Intelligent Logistics") increased by RMB692 million over the beginning of the year; 3. The accounts receivable of Shandong Zhongyin International Trade Co., Ltd. increased by RMB354 million over the beginning of the year; 4. The accounts receivable of Qingdao Zhongyin Ruifeng International Trade Co., Ltd. ("Qingdao Zhongyin Ruifeng") increased by RMB621 million over the beginning of the year. 5. The accounts receivable of Yancoal International increased by RMB110 million over the beginning of 2019.

Explanations for changes in prepayments:1. The Company's prepayments increased by RMB158 million over the beginning of the year; 2. The prepayments of Intelligent Logistics increased by RMB406 million from the beginning of the year, 3. The prepayments of Duanxin Investment Holdings (Shenzhen) Co., Ltd. for trade increased by RMB221 million over the beginning of the year. 4. The prepayment of Yancoal Australia increased by RMB126 million over the beginning of the year. 5. The prepayment of Haosheng Compnay increased by RMB114 million over the beginning of the year.

Explanations for changes in other receivables: 1. During the reporting period, due to participation in the capital increase project of Inner Mongolia Mining (Group) Co., Ltd., a deposit of RMB300 million was paid; 2. The dividends receivable of RMB487 million by Shaanxi Future Energy Chemical Co., Ltd. was announced but unpaid.

Explanations for changes in short-term borrowings: 1. The Company's short-term borrowings increased by approximately RMB5 billion from the beginning of the year; 2.Yancoal International's short-term borrowings increased by RMB1.9 billion over the beginning of the year. 3. The short-term borrowings of Qingdao Zhongyin Vast Lucky increased by RMB600 million over the beginning of the year.

Explanation for changes in contract liabilities: 1. The Company's contract liabilities increased by RMB408 million over the beginning of the year; 2. Qingdao Zhongyin Vast Lucky's contract liabilities increased by RMB326 million over the beginning of the year. 3. Intelligent Logistics’ contract liabilities increased by RMB248 over the beginning of the year.

Explanation for changes in non-current liabilities due within one year: Yancoal Australia's non-current liabilities due within one year decreased by RMB5 billion over the beginning of the year due to the extension of long-term loans.

Explanation for changes in other current liabilities: For the first three quarters of 2020, the Group issued RMB5.5 billion of super short-term bonds and repaid RMB4.5 billion of super short-term

15

bonds.

Explanation for changes in long term borrowings: 1. The long term borrowings of Yancoal International increased by RMB1.30 billion over the beginning of the year; 2. During the reporting period, the long-term borrowings of Yancoal Australia increased by approximately RMB5.9 billion; 3. The Company repaid long-term borrowings of RMB530 million.

Explanation for changes in deferred income tax liabilities: 1. The deferred income tax liabilities of Yancoal International decreased by RMB239 million over the beginning of the year; 2. Yancoal Australia's deferred income tax liabilities increased by RMB1.212 billion from the beginning of the year.

Explanation for changes in other equity instruments: During the reporting period, the Company redeemed RMB5 billion of renewable corporate bonds issued in 2017.

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

	The first three quarters of 2020 （RMB million）	The first three quarters of 2019 （RMB million）	Increase/ decrease (%)	Major reasons for those changes
Investment income	4,267	1,350	215.98	In the first three quarters, the Group obtained control of Moolarben Coal Joint Venture. Therefore, the Group's original 85% equity interest in Moolarben Coal Joint Venture needs to be remeasured at fair value. According to the assessment results, the Group confirmed an investment income of RMB3.40 billion.
Non-operating income	751	319	135.36	In the first three quarters, the Group acquired a 10% equity interest in the Moolarben Coal Joint Venture and confirmed a one-time gain of RMB453 million from the acquisition.
Income tax expense	1,609	2,154	-25.30	Taxable income decreased.

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

	The first Three Quarters of 2020 （RMB million）	The first Three Quarters of 2019 （RMB million）	Increase/ decrease (%)	Major reasons for those changes
Net cash flows from operating activities	6,188	14,833	-58.28	Yankuang Finance Company provided financial services such as deposits and loans to other entities other than the Group, which

16

				affected the net cash outflow from operating activities of RMB2.777 billion, and the net cash inflow from operating activities of RMB2.18 billion in the same period of the previous year. After excluding the influence of Yankuang Finance Company, the net cash flow from operating activities during the reporting period was RMB8.965 billion, a decrease of RMB3.688 billion as compared with the corresponding period of the previous year, mainly due to: 1. cash received from selling goods and providing labor services decreased by RMB30.171 billion; 2. cash paid for purchase of products and labor services decreased by RMB24.328 billion; 3.cash paid for other operating activities decreased by RMB3.011 billion.
Net cash flows from investing activities	-6,949	-3,254	-	1. The net cash received from the disposal of fixed assets, intangible assets and other long-term assets decreased by RMB452 million as compared with the corresponding period of the previous year; 2. Other cash received related to investment activities decreased by RMB1.853 billion as compared with the corresponding period of the previous year; 3. The net cash paid for acquiring subsidiaries and other business units increased by RMB429 million as compared with the corresponding period of thepreviousyear
Net cash flows from financing activities	-474	-19,337	-	1. Cash received from loans increased by RMB20.775 billion as compared with the corresponding period of the previousyear; 2. The cashpaid for

17

				the distribution of dividends, profits or interest payments increased by RMB2.037 billion as compared with the corresponding period of thepreviousyear.
Net increase in cash and cash equivalents	-1,162	-8,325	-	-

2.3 Progress and impact of significant events and analysis of resolutions

2.3.1 Significant litigation and arbitration events

Progress in litigation and arbitration events during the Reporting Period

1. China Construction Bank Jining Dongcheng Sub-branch (“CCB Jining Dongcheng Sub-branch”) sued against Yanzhou Coal for financial borrowings dispute

In November 2015, CCB Jining Dongcheng Sub-branch sued 7 defendants, including Shandong Hengfeng Electricity and Fuel Company ("Hengfeng Company") and Yanzhou Coal, to Jining Intermediate Court on the grounds of financial loan contract disputes, requesting Hengfeng Company to repay the loan principal of RMB59.669 million and corresponding interest. As Hengfeng Company pledged its account receivables by Yanzhou Coal of RMB79.1312 million (suspected of counterfeiting) to CCB Jining Dongcheng Sub-branch, CCB Jining Dongcheng Sub-branch requested Yanzhou Coal to repay as per the pledged accounts receivable of RMB79.1312 million.

In April 2018, Jining Intermediate Court ruled that Yanzhou Coal should bear the priority liability of repayment in an amount within the pledged accounts receivable of RMB79.1312 million. Yanzhou Coal lodged an appeal to Shandong High Court.

In December 2018, Shandong High Court ruled at the second instance that the case shall be reheard by Jining Intermediate Court.

In July 2020, Jining Intermediate Court reheard the case and ruled at the first instance that the Company shall bear one third liability within the pledged accounts receivable. The Company lodged an appeal to Shandong High Court.

2. Yanzhou Coal sued against Linyi Mengfei Trade Co., Ltd. (“Linyi Mengfei”) for sales contract dispute

In July 2020, citing the coal sales contract dispute, Yanzhou Coal sued Linyi Mengfei to Jining Intermediate Court, requiring Linyi Mengfei to refund the payment for goods of RMB140.9408 million and accrued interests and expenses, required its only shareholder Zhang Yinlong, its guarantor Huasheng Jiangquan Group, and the shareholders of Huasheng Jiangquan Group, Wang Wentao, Wang Wensheng to bear joint and several responsibilities for abovementioned payment.

As at the date of the Report, Jining Intermediate Court has not yet issued the ruling.

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3. China Huarong Asset Management Co., Ltd. Inner Mongolia Autonomous Region Branch (“China Huarong”) sued against Yanzhou Coal for sales contract dispute

In June 2020, China Huarong submitted two complaints to Hohhot Intermediate People’s Court (“Hohhot Intermediate Court”) suing Jinchengtai for sales contract disputes, requiring Jinchengtai to repay debt principal and relevant interests of RMB451 million and RMB680 million, respectively. Since Jinchengtai has made a pledge to China Huarong through its account receivables of RMB2.1 billion by Yanzhou Coal, China Huarong sued the Company as a third party to Hohhot Intermediate Court, requiring the Company to bear the liability of repayment within the amount of the account receivables.

In August 2020, the Company received the amended complaint, and China Huarong listed the Company as a co-defendant.

Hohhot Intermediate Court has not issued a judgement yet.

For details, please refer to the announcement on the Company's participation in litigation as a third party dated 11 June 2020, which were posted on the websites of the Shanghai Stock Exchange, the HKSE and the Company, and/or on China Securities Journal and Shanghai Securities News and Securities Times in the PRC.

2.3.2 Major connected transactions

1. Connected/related transaction in relation to acquiring related assets of Yankuang Group

As considered and approved at the fifth meeting of the eighth session of the Board dated 30 September 2020, Yanzhou Coal entered into the Equity and Assets Acquisition Agreement with Yankuang Group. Yanzhou Coal purchased 49.315% equity interests of Shaanxi Future Energy Chemical Co., Ltd, 100% equity interests of Shaanxi Yulin Fine Chemical Co., Ltd, 100% equity interests of Yankuang Lunan Chemical Co., Ltd, 100% equity interests of Jining Chemical Equipment Co., Ltd, 100% equity interests of Yankuang Coal Chemical Sales Co., Ltd, 99% equity interests of Shandong Yankuang Jining No. 3 Power Co., Ltd and related assets of Yankuang Group Information Center at the consideration of RMB18,355,429,830.87.

The transaction still needs to go through the approval procedures of the shareholders meeting.

For details, please refer to the announcements dated 30 September 2020 in relation to resolutions and the announcement in relation to acquire related assets of Yankuang Group at the fifth meeting of the eighth session of the Board, which were posted on the websites of the Shanghai Stock Exchange, the HKSE and the Company, and/or on China Securities Journal and Shanghai Securities News and Securities Times in the PRC.

2. Connected/related transaction in Intelligent Logistics increased its registered capital and the Company waived the priority of subscription

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As considered and approved at the sixth meeting of the eighth session of the Board dated 23 October 2020, Yanzhou Coal and Yankuang Group, Hainan Taizhong Products Group Co., Ltd. ("Taizhong Products"), China Huaneng Group Fuel Co., Ltd. ("Huaneng Fuel") and Intelligent Logistics signed the "Capital and Share Increase Agreement of Yankuang (Hainan) Intelligent Logistics Technology Co., Ltd.”, which stipulates that Intelligent Logistics will increase the registered capital of RMB400 million (the "Capital Increase") at the capital increase price determined by the valuation of all shareholders' equity (ie RMB1.4084 per share). The Company and Huaneng Fuel waive the priority to subscribe for capital increase; introduce Yankuang Group as a new shareholder to invest RMB315,481,600 (of which RMB224 million is used as the increased registered capital of Intelligent Logistics); the original shareholder Taizhong Products invest is RMB247,878,400 (of which RMB176 million is used as the increased registered capital of Intelligent Logistics).

This capital increase is deemed as Yanzhou Coal sold its equity share in Intelligent Logistics to Yankuang Group. Upon completion of the capital increase, Intelligent Logistics will become a holding subsidiary of Yankuang Group.

The issue still needs to go through the approval procedures of the shareholders meeting.

For details, please refer to the announcements dated 23 October 2020 in relation to resolutions passed at the sixth meeting of the eighth session of the Board and the connected/related transaction in relation to waive the priority of subscription during the increase registered capital of Hainan Intelligent Logistics, which were posted on the websites of the Shanghai Stock Exchange, the HKEX and the Company, and/or on China Securities Journal and Shanghai Securities News and Securities Times in the PRC.

2.3.3 Other significant events

1. Participated in the capital increase project of Inner Mongolia Mining Group Co., Ltd. ("Inner Mongolia Mining Group") through public tendering

As considered and approved at the third meeting of the eighth session of the Board dated 4 September 2020, in the Inner Mongolia Property Rights Exchange Center, the Company participated in the capital increase project of the Inner Mongolia Mining Group through public delisting, and the capital increase price was not higher than RMB3,962,289,500.

At present, the Company is negotiating the terms of the capital increase agreement with Inner Mongolia Mining Group, and the Company will make timely disclosures after signing the capital increase agreement.

For details, please refer to the announcement dated 4 September 2020 on the plan to participate in the capital increase project of Inner Mongolia Mining Group through public delisting, which was posted on the websites of the Shanghai Stock Exchange, the HKEX and the Company, and/or on China Securities Journal and Shanghai Securities News and Securities Times in the PRC.

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2. Increase the Company's 2020-2024 cash dividend ratio

As considered and approved at the sixth meeting of the eighth session of the Board held on 23 October 2020, the Company determines the 2020-2024 cash dividend ratio as: the total cash dividends distributed by the Company in each fiscal year shall account for approximately 50 percent of the Company’s net profit for the year after deducting statutory reserves, and the cash dividend per share shall not be less than RMB0.5.

The issue still needs to go through the approval procedures of the shareholders meeting.

For details, please refer to the announcement on the resolutions of the sixth meeting of the eighth session of the Board and the announcement on increasing the proportion of cash dividends on 23 October 2020, which were posted on the websites of the Shanghai Stock Exchange, the HKEX and the Company, and/or on 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 loss from the beginning of 2020 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 the previous year.

Not applicable.

3. Directors

As at the date of this announcement, the directors of the Company are Mr. Li Xiyong, Mr. Wu Xiangqian, Mr. Liu Jian, Mr. Zhao Qingchun, Mr. He Jing and Mr. Wang Ruolin, and the independent non-executive directors of the Company are Mr. Tian Hui, Mr. Zhu Limin, Mr. Cai Chang and Mr. Poon Chiu Kwok.

Yanzhou Coal Mining Company Limited

Li Xiyong

Chairman of the Board 23 October, 2020

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4. APPENDIX

4.1 Financial Statement

Consolidated Balance Sheet

30 September 2020

Consolidated Balance Sheet 30 September 2020	Consolidated Balance Sheet 30 September 2020	Consolidated Balance Sheet 30 September 2020
Prepared by: Yanzhou Coal MiningCompanyLimited Unit: RMB’000 Unaudited
Items	30 September 2020	31 December 2019
Current assets:
Moneyfunds	27,554,166	27,273,606
Clearingsettlement funds
Lending to banks and other financial institutions
Tradable financial assets	143,374	156,652
Derivative financial assets
Notes receivable
Accounts receivable	7,114,242	4,495,398
Receivable financing	2,593,437	3,102,766
Prepayments	4,879,413	3,484,269
Premium receivable
Reinsurance accounts receivable
Reserve for reinsurance contract receivable
Other receivables	3,887,549	3,042,851
Including：interests receivable	235,362	119,093
dividends receivable	487,341
Purchase of resold financial assets
Inventories	8,942,599	7,299,985
Contract assets
Held-to-sale assets	216,682	217,644
Non-current assets due within oneyear	1,468,703	1,336,643
Other current assets	13,841,275	13,152,322
TOTAL CURRENT ASSETS	70,641,440	63,562,136
NON-CURRENT ASSETS：
Disbursement of loans and advances
Debt investment	69,050	69,357
Other debt investments
Long-term accounts receivable	7,473,352	7,694,889
Long-term equityinvestment	17,535,969	17,634,395
Other equityinstruments investment	4,578	4,624
Other non-current financial assets	1,251,956	1,174,648
Investmentproperties	534,726	610

22

Fixed assets	41,956,229	43,915,901
Construction inprogress	19,509,926	18,359,368
Productive biological asset
Oilgas asset
Right-of-use asset	320,127	406,528
Intangible asset	53,816,499	49,313,882
Development expenditure
Goodwill	328,100	329,513
Long-term deferred expenses	23,034	23,616
Deferred income tax assets	2,159,054	2,355,820
Other non-current assets	3,296,197	2,976,076
TOTAL NON-CURRENT ASSETS	148,278,797	144,259,227
TOTAL ASSETS	218,920,237	207,821,363
CURRENT LIABILITIES:
Short-term borrowings	17,124,149	8,747,590
Borrowings from central bank
Deposit funds
Tradable financial liabilities	151,969	148,554
Derivative financial liabilities
Notespayable	9,891,525	9,092,258
Accountspayable	10,403,121	10,462,137
Advances from customers
Contract liabilities	4,060,702	2,717,475
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	1,731,262	1,453,978
Taxespayable	1,421,226	1,116,487
Otherpayables	21,735,365	24,401,865
Including: interestspayable	901,825	462,144
dividendspayable	1,103,306	1,919,666
Handling charges and commissions payable
Reinsurance accountspayable
Held-to-sale liabilities
Non-current liabilities due within one year	7,596,489	12,180,754
Other current liabilities	3,998,885	2,998,800
TOTAL CURRENT LIABILITIES	78,114,693	73,319,898

23

NON-CURRENT LIABILITIES:
Reserve for insurance contract
Long-term borrowings	32,773,243	26,133,626
Bondspayable	17,978,903	14,567,273
Including:preferred shares
perpetual bonds
Lease liabilities	198,862	328,072
Long-termpayables	2,515,789	2,331,559
Long-term salaries and wagespayable	452,428	439,946
Accrued liabilities	2,825,639	2,643,476
Deferred income	131,753	133,508
Deferred income tax liabilities	4,269,251	3,301,414
Other non-current liabilities	235,026	1,098,469
TOTAL NON-CURRENT LIABILITIES	61,380,894	50,977,343
TOTAL LIABILITIES	139,495,587	124,297,241
OWNERS’ EQUITY （ OR SHAREHOLDERS’ EQUITY）：
Paid-in capital(or share capital)	4,860,000	4,912,016
Other equityinstruments	5,141,000	10,311,611
Including:preferred shares
perpetual bonds	5,141,000	10,311,611
Capital reserves	256,655	482,980
Less: treasurystock
Other comprehensive income	-6,596,155	-6,810,265
Special reserve	4,538,860	4,078,521
Surplus reserve	6,804,799	6,804,799
Provision forgeneral risk
Undistributed earnings	46,433,894	43,512,178
Total owners’ equity（or shareholders’ equity ） attributable to parent company	61,439,053	63,291,840
Minorityshareholders’ interest	17,985,597	20,232,282
TOTAL OWNERS’ EQUITY (OR SHAREHOLDERS’ EQUITY)	79,424,650	83,524,122
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	218,920,237	207,821,363

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

Balance Sheet of the Parent Company

24

30 September 2020

Prepared by: Yanzhou Coal Mining Company Limited

Unit: RMB’000 Unaudited

Items	30 September 2020	31 December 2019
CURRENT ASSETS：
MoneyFunds	8,214,705	5,520,882
Tradable financial assets
Derivative financial assets
Notes receivables
Accounts receivable	1,992,076	1,107,572
Accounts receivable financing	2,067,393	2,647,131
Prepayments	240,990	82,773
Other receivables	42,812,235	42,154,385
Including: Interestspayable	2,331,040	1,768,263
Dividendspayable	487,341
Inventories	538,270	630,263
Contract assets
Held-to-sale assets
Non-current assets due within oneyear
Other current assets	1,290,437	1,182,207
TOTAL CURRENT ASSETS	57,156,106	53,325,213
NON-CURRENT ASSETS：
Creditors’ investment
Other creditors’ investment
Long-term accounts receivable	75,241,317	74,811,707
Long-term equityinvestments	4,577	4,623
Other equityinstruments investments
Other non-current financial assets
Investment real estate
Fixed assets	6,040,562	6,710,439
Construction inprogress	829,266	526,431
Productive biological assets
Oil andgas assets
Right-of-use assets	3,611,416	3,980,984
Intangible assets	1,112,082	1,210,137
Development expenditure
Goodwill
Long-term deferred expenses	1	7
Deferred income tax assets	1,418,690	1,233,628
Other non-current assets	176,791	117,926
TOTAL NON-CURRENT ASSETS	88,434,702	88,595,882
TOTAL ASSETS	145,590,808	141,921,095
CURRENT LIABILITIES：

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Short-term borrowings	16,320,000	10,250,000
Tradable financial liabilities	85,598	85,598
Derivative financial liabilities
Notespayable	1,847,902	1,661,009
Accountspayable	2,098,237	3,022,321
Advances from customers
Liabilities of contract	1,044,054	635,148
Salary payable	846,179	688,201
Taxes and surchargespayable	998,853	638,389
Otherpayables	16,540,481	18,111,788
Including: Interestspayable	945,899	823,427
Dividendspayable	1,099,762	1,874,302
Liabilities classified as held for sale
Non-current liabilities due within oneyear	4,064,012	3,450,996
Other current liabilities	3,998,885	2,998,800
TOTAL CURRENT LIABILITIES	47,844,201	41,542,250
NON-CURRENT LIABILITIES:
Long-term borrowings	20,362,545	20,896,720
Bondspayable	14,997,679	11,518,667
Including:preferred shares
perpetual bonds
Lease liabilities	3,233,844	3,671,227
Long-termpayable	45,704	60,755
Long-term employee benefitspayable
Accrued liabilities
Deferred income	93,501	98,887
Deferred income tax liabilities	54	65
Other non-current liabilities
TOTAL NON-CURRENT LIABILITIES	38,733,327	36,246,321
TOTAL LIABILITIES	86,577,528	77,788,571
OWNERS' EQUITY（OR SHAREHOLDERS' **EQUITY): **
Paid-in capital(share capital)	4,860,000	4,912,016
Other equityinstruments	5,141,000	10,311,611
Including:preferred shares
perpetual bonds	5,141,000	10,311,611
Capital reserve	1,209,847	1,424,005
Less：treasuryshares
Other comprehensive income	104,613	69,422
Special reserve	3,315,052	3,107,508
Surplus reserve	6,759,689	6,759,689

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Undistributedprofit	37,623,079	37,548,273
TOTAL SHAREHOLDERS' EQUITY	59,013,280	64,132,524
TOTAL LIABILITIES AND OWNERS' EQUITY	145,590,808	141,921,095

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

Consolidated Income Statements

From January to September 2020

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

Items	From July to September 2020	From July to September 2019	From January to September 2020	From January to September 2019
I. Total Operating Revenue	44,533,548	44,635,485	154,146,966	150,611,076
Including: Operatingrevenue	44,533,548	44,635,485	154,146,966	150,611,076
Interest income
Premium earned
Fee and commission income
II. Total Operating Costs	43,102,171	42,385,422	149,246,488	141,023,524
Including: Operating costs	39,426,138	38,680,373	138,300,455	129,951,504
Interest expenses
Fees and commission expenses
Cash surrender value
Net claim settlement expenses
Net insurance contract reserves
Policydividend expenses
Reinsurance expenses
Taxes and surcharges	611,684	479,322	1,795,439	1,586,902
Sellingexpenses	1,202,076	1,420,782	3,916,670	4,263,218
Administrative expenses	1,251,965	1,151,918	3,460,094	3,136,539
Research and development expenses	48,043	54,813	131,985	133,588
Financial expenses	562,265	598,214	1,641,845	1,951,773
Including：Interest expense	689,423	734,579	2,094,671	2,296,606
Interest income	237,514	246,572	694,643	676,931
Add: Other income	2,858	10,751	23,266	27,178
Investment income("-" for loss)	202,413	255,309	4,267,068	1,350,404
Including: Investment income from associates andjoint ventures	288,553	304,403	904,220	1,298,725
Termination recognition income from	-	-	-	-

27

financial assets measured at amortized costs
Exchange earning ("-" for loss)	-	-	-	-
Net exposure hedging income ("-" for loss)	-397,638		-741,030
Gains from fair value changes ("- " for loss)	50	127	25,551	82,076
Loss from credit impairment ("- " for loss)	-6,950	16,394	-8,950	-81,403
Loss from asset devaluation ("- " for loss)	-2,218	-37,053	-67,655	-39,950
Gains on disposal of assets ("- " for loss)	5,675	10,283	4,388	-13,221
III. Operating profit("-" for loss)	1,235,567	2,505,874	8,403,116	10,912,636
Add: Non-operatingincome	111,047	106,939	751,412	319,259
Less: Non-operatingexpenses	56,071	21,601	113,443	88,177
IV. Total Profit("-" for loss)	1,290,543	2,591,212	9,041,085	11,143,718
Less: Income tax expenses	240,013	642,020	1,609,303	2,154,496
V. Netprofit("-" for loss)	1,050,530	1,949,192	7,431,782	8,989,222
（I）Bybusiness continuity：
Profit and loss from continuous operation("- " for loss)	1,050,530	1,949,192	7,431,782	8,989,222
Profit and loss from terminated operation("- " for loss)
（II）Byownership：
1.Attributable to parent company ("- " for net loss)	1,090,619	1,622,849	5,690,486	6,983,703
2.Attributable to holders of other equity instruments of the parent company	118,625	152,055	414,375	451,208
3.Attributable to minority shareholders("- " for net loss)	-158,714	174,288	1,326,921	1,554,311
VI. Other comprehensive income after tax	508,793	41,110	368,324	389,386
（I）Other comprehensive income after tax attributable to the owners of parent company	285,181	179,497	214,111	482,944
1.Other comprehensive income not be reclassified asprofit or loss later		-51	-35	21,045
○1 Changes in remeasurement of defined benefitplans	-	-	-	-
○2 Portion of other comprehensive income of investees not to be	-	-	-	-

28

reclassified as profit or loss under equitymethod
○3 Changes in fair value of investments in other equity instruments		-51	-35	21,045
○4 Changes in the fair value of the enterprise's own credit risk
2.Other comprehensive income to be reclassified asprofit or loss	285,181	179,548	214,146	461,899
○1 Portion of other comprehensive income of investees to be reclassified asprofit or loss under equitymethod	-74,293	45,451	-50,224	101,367
○2 Changes in fair value of investments in other equity instruments	-	-	-	-
○3Financial assets reclassified to other comprehensive income
○4Provision for Impairment of Credit for Investment of Other Creditor Rights	-	-	-	-
○5Cash flow hedgingreserve	216,920	-359,856	272,670	-306,447
○6Exchange differences on translation	142,554	493,953	-18,753	666,979
○7others			10,453
（II）Other comprehensive income after tax attributable to the minority shareholders	223,612	-138,387	154,213	-93,558
VII. Total comprehensive income	1,559,323	1,990,302	7,800,106	9,378,608
（I）Attributable toparent company	1,375,800	1,802,346	5,904,597	7,466,647
（II）Attributable to holders of other equity instruments of the parent company	118,625	152,055	414,375	451,208
（III ）Attributable to minority shareholders	64,898	35,901	1,481,134	1,460,753
VIII. Earnings per share
（I）Basic earningsper share（RMB）	0.2244	0.3304	1.1640	1.4218
（II）Diluted earnings per share （RMB）	0.2244	0.3304	1.1640	1.4218

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

Income Statements of the Parent Company

29

From January to September 2020

Prepared by: Yanzhou Coal Mining Company Limited

Unit: RMB’000 Unaudited

Items	From July to September 2020	From July to September 2019	From January to September 2020	From January to September 2019
I. Operating revenue	5,193,296	5,884,402	15,962,284	18,728,610
Less：Operatingcosts	3,009,343	3,260,233	9,724,943	9,788,771
Taxes and surcharges	256,146	286,576	769,581	919,029
Sellingexpenses	86,755	74,351	304,196	238,771
Administrative expenses	536,125	544,595	1,513,191	1,502,890
Research and development expenses	11,846	13,493	36,839	45,413
Financial expenses	134,457	680,202	436,601	2,284,213
Including：Interest expense	679,477	683,475	2,091,836	2,276,161
Interest income	594,100	29,582	1,746,245	102,489
Add: Other income	198	1,647	6,134	4,641
Investment income("-" for loss)	222,952	1,072,156	1,430,329	3,684,340
Including: Investment income from associates andjoint ventures	222,952	213,269	683,570	677,393
Termination recognition income from financial assets measured at amortized costs	-	-	-	-
Net exposure hedging income ("-" for loss)	-23,025		-43,990
Gains from fair value changes ("- " for loss)		310		6,978
Loss from credit impairment ("- " for loss)		-1,923	24,666	-80,600
Loss from asset devaluation ("- " for loss)
Gains on disposal of assets ("- " for loss)	5,529	-1,359	5,529	-2,437
II. Operating profit("-" for loss)	1,364,278	2,095,783	4,599,601	7,562,445
Add: Non-operatingincome	57,371	61,258	170,284	196,239
Less: Non-operatingexpenses	18,537	4,948	38,203	34,148
III. Total Profit("-" for loss)	1,403,112	2,152,093	4,731,682	7,724,536
Less: Income tax expenses	403,069	410,702	1,423,701	1,797,028
IV. Netprofit("-" for loss)	1,000,043	1,741,391	3,307,981	5,927,508
1. Net profit from continuous operation("- " for loss)	1,000,043	1,741,391	3,307,981	5,927,508
2. Net profit from terminated operation("- " for loss)
（II）Byownership：

30

1.Attributable to the shareholders of theparent company	881,418	1,589,336	2,893,606	5,476,300
2.Attributable to holders of other equity instruments of the parent company	118,625	152,055	414,375	451,208
V. Other comprehensive income after tax	11,136	45,399	35,191	101,431
(I) Other comprehensive income not be reclassified asprofit or loss		-52	-35	64
1. Changes in remeasurement of defined benefitplans	-	-	-	-
2.Portion of other comprehensive income of investees not to be reclassified as profit or loss under equitymethod	-	-	-	-
3. Changes in fair value of investments in other equity instruments		-52	-35	64
4. Changes in the fair value of the enterprise's own credit risk	-	-	-	-
(II) Other comprehensive income to be reclassified asprofit or loss	11,136	45,451	35,226	101,367
1. Portion of other comprehensive income of investees to be reclassified as profit or loss under equitymethod	11,136	45,451	35,226	101,367
2. Changes in fair value of other debt investment
3. Financial assets reclassified to other comprehensive income
4. Provision for Impairment of credit for investment of other creditor rights
5. Cash flow hedgingreserve
6. Exchange differences on translation
7. Others
VI. Total comprehensive income	1,011,179	1,786,790	3,343,172	6,028,939
Total comprehensive income attributable to the shareholders of the parent company	892,554	1,634,735	2,928,797	5,577,731
Total comprehensive income attributable to the holders of other equity instruments of the parent company	118,625	152,055	414,375	451,208

31

VII. Earnings per share
（I）Basic earnings per share （RMB）	0.1814	0.3236	0.5919	1.1149
（II）Diluted earnings per share （RMB）	0.1814	0.3236	0.5919	1.1149

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

32

Consolidated Cash Flow Statement

From January to September

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

Items	From January to September 2020	From January to September 2019
1.CASH FLOW FROM OPERATING ACTIVITIES：
Cash received from sales of goods or renderingof services	130,599,315	160,770,422
Net increase in customer's deposit and deposit of interbank	-2,588,651	2,203,524
Net increase in borrowing from the Central Bank	-	-
Net increase in borrowing from other financial institutions	-	-
Cash received from the original insurance contractpremium	-	-
Net cash received from the reinsurance businesses	-	-
Net increase in insured savings and investment funds	-	-
Cash received from interest, charges and commissions	-	-
Net increase in loans from other banks and other financial institutions	-	-
Net increase in funds in repurchase business	-	-
Net cash received from agent in buying and sellingsecurities	-	-
Tax and charges refunded	698,011	460,259
Other cash received relating to operating activities	7,915,107	9,577,406
Sub-total of cash inflows	136,623,782	173,011,611
Cashpaid forgoods and servicespurchased	106,321,103	130,649,361
Net increase in customer loans and advance	187,916	23,635
Net increase in deposits of central bank and interbank	-	-
Cash paid for the indemnity under original insurance contract	-	-
Net increase in lendings to banks and other financial institutions	-	-
Cash paid for interest, charges and commissions	-	-
Cashpaid forpolicydividend	-	-

33

Cashpaid to and on behalf of employees	8,474,619	8,003,787
Taxes and chargespayments	6,484,379	7,523,600
Other cash paid relating to operating activities	8,967,475	11,978,069
Sub-total of cash outflows from operating activities	130,435,492	158,178,452
NET CASH FLOW FROM OPERATING ACTIVITIES	6,188,290	14,833,159
2.NET CASH FLOW FROM INVESTMENT ACTIVITIES
Cash received from recoveryof investments	1,692,240	1,733,450
Cash received from investments return	402,688	445,618
Net cash received from disposal of fixed assets, intangible assets and other long-term assets	22,451	474,661
Net cash amount received from disposal of subsidiaries and other business segments	-237,326	32,246
Cash received from other investment activities	88,897	1,942,127
Sub-total of cash inflows from investment activities	1,968,950	4,628,102
Cash paid to acquire fixed assets, intangible assets and other long-term assets	7,697,458	7,543,328
Cashpaid for investments	431,246	181,664
Net increase inpledged loans	-	-
Net cash paid for acquisition of subsidiaries and other business units	566,583	137,509
Other cash paid relating to investment activities	223,265	20,000
Sub-total of cash outflows from investment activities	8,918,552	7,882,501
NET CASH FLOW FROM INVESTMENT ACTIVITIES	-6,949,602	-3,254,399
3. CASH FLOW FROM FINANCING ACTIVITIES:
Cash received from investors	181,279
Including: Cash received from minority shareholders of subsidiaries	181,279
Cash received from borrowings	39,053,413	18,278,179
Other cash received relating to financing activities	745,270
Sub–total of cash inflows from financing activities	39,979,962	18,278,179

34

Repayments of borrowings and debts	31,989,094	24,088,742
Cash paid for distribution of dividends, profits,or cashpaid for interest expenses	7,728,870	5,691,587
Including: cash paid for distribution of dividends or profits by subsidiaries to minorityshareholders	679,485	465,217
Other cash paid relating to financing activities	735,885	7,834,690
Sub-total of cash outflows from financing activities	40,453,849	37,615,019
NET CASH FLOW FROM FINANCING ACTIVITIES	-473,887	-19,336,840
4. EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	73,175	-566,992
5. NET INCREASE ON CASH AND CASH EQUIVALENTS	-1,162,024	-8,325,072
Add: Cash and cash equivalents, opening	22,822,624	27,372,942
6. Cash and cash equivalents, closing	21,660,600	19,047,870

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

35

Cash Flow Statement of the Parent Company

From January to September

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

Items	The first three quarters of 2020 (from January to September)	The first three quarters of 2019 (from January to September)
1. CASH FLOW FROM OPERATING ACTIVITIES：
Cash received from sales of goods and renderingof services	17,644,101	20,387,891
Tax refunds
Other cash received relating to operating activities	1,269,585	1,107,474
Sub-total of cash inflows	18,913,686	21,495,365
Cash paid for goods and services	4,891,707	5,325,349
Cash paid to and on behalf of employees	4,031,683	3,900,411
Taxes payment	3,741,051	4,867,189
Other cash paid relating to operating activities	1,429,960	1,958,249
Sub-total of cash outflows	14,094,401	16,051,198
NET CASH FLOW FROM OPERATING ACTIVITIES	4,819,285	5,444,167
2. CASH FLOW FROM INVESTMENT ACTIVITIES:
Cash received from recovery of investments		1,550,000
Cash received from investment return	810,395	2,800,150
Net cash received from disposal of fixed assets, intangible assets and other long-term assets	1,929	1,863
Net cash amount received from the disposal of subsidiaries and other business units
Other cash received relating to investment activities	3,445,061	6,608,001
Sub-total of cash inflows from investment activities	4,257,385	10,960,014
Cash paid to acquire fixed assets, intangible assets and other long-term assets	406,988	654,451
Cash paid for investments	291,530	3,277,865
Net cash paid for the acquisition of subsidiaries and other business units

36

Other cash paid relating to investment activities	4,352,854	11,307,941
Sub-total of cash outflows from investment activities	5,051,372	15,240,257
NET CASH FLOW FROM INVESTMENT ACTIVITIES	-793,987	-4,280,243
3. CASH FLOW FROM FINANCING ACTIVITIES:
Cash received from investors	-	-
Cash received from borrowings	26,787,155	15,520,000
Cash received relating to other financing activities	2,330,257	4,326,420
Sub–total of cash inflows from financing activities	29,117,412	19,846,420
Repayments of borrowings and debts	21,082,245	25,067,466
Cash paid for distribution of dividends or profits,or cashpaid for interest expenses	5,915,498	2,810,777
Other cash payment relating to financing activities	3,150,029	600,000
Sub-total of cash outflows from financing activities	30,147,772	28,478,243
NET CASH FLOW FROM FINANCING ACTIVITIES	-1,030,360	-8,631,823
4. EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	49,000	57,312
5. NET INCREASE ON CASH AND CASH EQUIVALENTS	3,043,938	-7,410,587
Add: Cash and cash equivalents, opening	4,588,562	13,653,633
6. Cash and cash equivalents, closing	7,632,500	6,243,046

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

4.2 The adjustments of the relevant items of the financial statements at the beginning of the year 2020 under the new income standards and new leasing standards

Not applicable

4.3 The explanation on the retrospective adjustment of preliminary comparative data of the implementation of new financial instrument standards and new lease standards for the first time from beginning of the year 2020.

Not applicable

37

4.4 Audit report

Not Applicable

38