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Daiwa: Upgrades China Shenhua Energy Rating to Outperform, target price raised to HKD 40.
Daiwa released a research report stating that it will downgrade the rating of China Shenhua (01088) in March this year, mainly due to the decline in coal production and sales price. With state-owned enterprise investment themes once again becoming a market focus and the company's production continuing to outperform guidance, the average selling price of products tends to be stable. Therefore, its H-share rating was upgraded from "hold" to "outperform the market", and the target price was raised from HKD 28 to HKD 40. The bank pointed out that although the expected dividend yield of Shenhua in 2024 has decreased from 9% to 6.6%, it is still attractive compared to other entities with higher returns. Shenhua is expected to announce its annual results on March 31, and the bank believes that the company's future earnings and cash flow will drive further gains in the stock price.
HK stocks rose abnormally today. Coal industrial concepts are rising again. Coal H shares have recently reached the ex-dividend and ex-rights date. Institutions say that the sector's filling and withholding situation is expected to be repeated.
Coal industry stocks rose again. As of press time, Southgobi (01878) rose 15.65% to HKD 3.62; Mongol Mining (00975) rose 6.03% to HKD 9.5; Yancoal Aus (03668) rose 6% to HKD 36.2; China Shenhua Energy (01088) rose 4.17% to HKD 37.45; Yankuang Energy (01171) rose 1.97% to HKD 11.38.
Hong Kong stock concept tracking | Shutdown of English American Resources Australian coal mines, international coal prices rise (attached with concept stock)
Mining company Anglo-American Resources announced that it has temporarily suspended production at its Groveland steelmaking coal mine.
China Shenhua Energy A shares will distribute cash dividends of RMB 2.26 per share on July 8.
China Shenhua Energy (01088) announced its plan for A-share dividend distribution at the end of 2023: a cash dividend of RMB 2.26 per share (tax inclusive) for A-shares. Cash dividend payment date: July 8, 2024.
GTJA: The reshaping of the coal sector's valuation is underway. Six types of symbols are worth paying attention to.
Zhixing Finance APP learned that GTJA released a research report stating that the reshaping of the coal sector's valuation is underway, reflecting not only the profound changes in supply and demand structure in the coal industry, the gradual "utility-ification", but also reflecting the trend of high dividend assets becoming more favored by the market as risk-free returns decline in the context of asset shortages. It recommends high-quality leading companies with stable profitability and predictable earnings such as Shaanxi Coal Industry (601225.SH) and China Shenhua Energy (601088.SH); it also recommends Xinji Energy, which integrates coal and electricity, benefiting from Shaanxi Energy (001286.SZ).
China Shenhua Energy (01088) will distribute a cash dividend of 2.26 yuan per share on July 8.
China Shenhua Energy (01088) announced that the A-share dividend distribution plan at the end of 2023 will be implemented: cash dividend per share of A-share...
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