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China Great Wall Securities: Monthly coal production has significantly recovered, with high-temperature demand being realized later than the same period.
Amid the current emphasis on safe production policies, the coal supply side is expected to contract, making the sector characterized by high cash and high dividends and maintaining strong profitability.
GF Sec: Coal prices are stable with a rising trend, and short-term pressure is expected in interim report. Q3 is expected to continue the recovery.
After rising in April and May, the prices of thermal coal and coking coal fell in June. Although there is still pressure on short-term macro demand, the support for coal is still relatively obvious, mainly reflected in seasonal demand for thermal coal, low inventory of coking coal, and supply-side constraints.
HK stocks in motion | China Shenhua Energy (01088) fell 3% in midday trading, dragged down by falling coal prices and second-quarter performance. The net profit in the first half of the year slid by up to 14% at most.
China Shenhua (01088) fell 3% during intraday trading. At the time of publication, it fell 2.42%, at HKD 34.3 and transaction volume of HKD 0.399 billion.
Two departments issued a plan for low-carbon transformation of coal-fired power, and coal-power integration received attention.
According to the website of the National Development and Reform Commission on July 15th, in order to coordinate the low-carbon transformation of existing coal-fired units and the construction of new low-carbon coal-fired units, improve the clean and efficient utilization level of coal, accelerate the construction of a clean, low-carbon, safe, and efficient new energy system, and help achieve the goal of carbon peak and carbon neutrality, the National Development and Reform Commission and the National Energy Administration recently issued the "Action Plan for Low-Carbon Transformation and Construction of Coal-Fired Power Plants (2024-2027)".
China Shenhua Energy (01088.HK): Guoneng (Beijing) Technology Innovation Seed Fund has completed the filing procedures.
On July 15th, Geelong announced that China Shenhua (01088.HK), approved by the fifth board of directors of China Shenhua Energy Co., Ltd. ('the Company') at their 30th meeting, has six subsidiaries including Guoneng Shendong Coal Group Co., Ltd. as limited partners, totaling 0.12 billion yuan, and jointly invest with five subsidiaries of China Energy Investment Group Co., Ltd. under the National Energy Group Capital Holdings Co, Ltd. to establish the Guoneng (Beijing) Technology Innovation Seed Fund (Limited Partnership) ('Seed Fund'). Recently, the Seed Fund has completed the filing procedures with the China Securities Investment Fund Association.
Hong Kong stock market closed on 07/15, with the Hang Seng Index falling by 1.52%. Network technology stocks were generally under pressure, while digital currency ETFs and golden industrial concept stocks rose against the trend.
Hong Kong's three major indexes fluctuated down all day, with the Hengkang index falling more than 3% in the afternoon and the Hang Seng Index barely holding onto the 18,000 level. At the close, the Hang Seng index fell 1.52% or 277.44 points to 18015.94 points.
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