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Express News | Shanxi Coal Group established a 50 million investment management company.
Research reports: Huachuang Securities considers comparable company valuations and asset injection expectations, maintaining a "strong recommendation" rating for shaanxi coal industry.
Gelonghui on November 8th | Huachuang Securities' research report pointed out that shaanxi coal industry (601225.SH) Q3 net profit attributable to parent company was 5.39 billion yuan, with a year-on-year/quarter-on-quarter increase of +17.1%/-8.8%, respectively. Q3 quarterly production/self-produced coal sales volume were 41.367/40.611 million tons, with a quarter-on-quarter decrease of -8.0%/-8.7%. In previous years, Q4 was a high incidence period for coal mine safety accidents. The intensified supervision of production areas caused a decrease in the company's coal production and sales volume in Q3. With the opening of heating demand in mid-September, the demand for power plant coal replenishment and the positive impact of Daqin maintenance have driven the price rebound. Looking ahead to the fourth quarter, the thermal coal price may operate steadily.
Shanxi Securities: It is expected that there is limited room for the winter coal price to fall, focusing on stable high-dividend varieties and metallurgical coal.
In the fourth quarter, the increase in coal supply is limited, with seasonal hydropower and new energy output decreasing. The overall coal supply and demand are expected to maintain a relatively balanced state under negotiation.
shaanxi coal industry (601225) 2024 third quarter report review: self-produced coal production and sales decrease compared to the previous quarter, starting the layout of coal-electricity integration.
Items: The company released the third quarter report of 2024, with revenue of 125.43 billion yuan in 2024Q1-3, a year-on-year decrease of 1.6%; achieving a net income attributable to the mother of 15.94 billion yuan, a year-on-year decrease of 1.5%; achieving a non-net income attributable to the mother.
Shaanxi Coal Industry (601225): Double growth in production and sales in Q3 24 drives revenue growth. Profits relatively stable.
Investment Highlights: The company disclosed its 2024 Q3 performance: For Q1-3 2024, the company achieved revenue of 125.43 billion yuan, a year-on-year decrease of 1.6%; net income attributable to the parent company was 15.94 billion yuan, a year-on-year decrease of 1.5%, with a net margin attributable to the parent company of 12.7.
Citic sec: Macro, market and other aspects bullish superimposed, coal sector is expected to start a trend.
After the third-quarter report, the coal sector's annual profit and dividend expectations gradually become clearer, combined with multiple positive factors at macro and market levels, bullish sector leaders perform well, the bank believes the sector is expected to usher in a new round of increase.
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