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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.
shanxi coking coal energy group (000983): It is expected that the volume will increase in Q3 with price decrease. The bottom has appeared, with elasticity as the first choice.
Executive summary of this report: It is expected that the coal price will decrease despite an increase in volume in Q3; It is anticipated that the production and sales volume in 24Q4 will still improve compared to the previous quarter to offset the price decline; Optimization of asset structure, capacity expansion, future growth prospects. Investment highlights: Lower profit forecasts, increase target price, shareholding.
shanxi coking coal energy group (000983) 2024 third quarter report review: period expenses increased by 24% compared to the previous quarter, Q3 performance under pressure
Event: On October 29, 2024, the company released the third quarter report of 2024, with a net income attributable to the owners of the parent company of 2.846 billion yuan in the first three quarters, a decrease of 49.52% year-on-year; revenue was 33.093 billion.
Shanxi Coking Coal Energy's Q3 Profit Down 22%
shanxi coking coal energy group (000983): coking coal prices decline dragging down profits
The company achieved a third-quarter net income attributable to the parent company of 0.88 billion yuan, a year-on-year decrease of 21.5%, a quarter-on-quarter decrease of 13.4%, slightly higher than our profit forecast in the 3Q outlook (0.83 billion). The third quarter was affected by the rapid decline in downstream molten iron production during the off-season.
Shanxi Coking Coal: Report for the Third Quarter of 2024
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