Pingdingshan Tian'an Coal Mining posts 47.2-pct drop in 2009 net profit
hair extensions wholesaleBEIJING, Feb. 12 (Xinhua) -- Pingdingshan Tian'an Coal Mining Co., a major coal producer based in Central China's Henan Province, said Friday its net profit in 2009 tumbled 47.2 percent from a year earlier to 1.4 billion yuan (206.4 million U.S. dollars).
In its annual report of 2009 filed to the Shanghai Stock Exchange, Pingdingshan Tian'an said the earnings per share in 2009 stood at just over one yuan, also down 47.2 percent from the previous year. The company's net profit for 2008 was 2.66 billion yuan.
Hair extensionsPingdingshan Tian'an, one of the two listed companies owned by the regional energy conglomerate Zhong Ping Energy Chemical Group, attributed decreased net profit to falling coal prices last year. The other is Shenma Industry Co., also listed in Shanghai.
In 2009, Pingdingshan Tian'an sold its coal at an average price of 422 yuan per tonne, down 22 percent from the average price of 539.68 yuan in 2008, the report said.
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Shares in Pingdingshan Tian'an opened at 25.97 yuan per share on Friday morning, slightly higher than the previous closing of 25.95 yuan per share. The company's current market value amounted to 36.7 billion yuan.
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