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Coal industry stocks are under pressure. Hidili Industry (01393) fell by 8.08%. Institutions point out that coal production areas have strict and normalized safety supervision, and the increase in supply is limited.
Jinwu Finance News | Coal stocks under pressure, Hidili Industry (01393) fell 8.08%, Mongolia Energy (00276) fell 7.14%, SouthGobi (01878) fell 4%, Mongol Mining (00975) fell 3.97%, Yancoal Aus (03668) fell 2.6%, China Shenhua Energy (01088) fell 2.5%. Shanxi Securities said that coal production areas have strict and normal safety supervision and maintenance, and the supply increment of coal production areas is limited; in terms of demand, there is a north-south difference in electricity, southern hydropower and other clean energy continue to generate output, the coal consumption increases are limited, but the north continues to experience high temperatures, and the electricity...
China Shenhua Energy (601088.SH): As of February 29, the total number of shareholders in the company was 1.493 million.
China Shenhua Energy (601088.SH) stated on the investor interaction platform on July 18th that as of February 29th, 2024, the total number of shareholders in the company was 149,270, including 147,431 A-shareholders in mainland China and 1,839 H-shareholders overseas.
Founder Securities: Non-coal demand impact highlighted, thermal coal sector expected to welcome a market.
In the long term, high-dividend coal companies still have investment value. Currently, thermal coal is operating under a dual-track system. The National Development and Reform Commission has proposed a reasonable range of domestic thermal coal medium and long-term transaction prices. As of July 12, the closing price of thermal coal (5500 kcal) at Qinhuangdao Port was 852 yuan/ton, which is at a historically high level. Under the dual-track system, thermal coal prices are stable at a high level, providing a certain guarantee for the performance of coal companies.
Citic Sec: From 'having coal' to 'being capable', coal-electricity integration gains growth opportunities.
With the government relaxing its control on electricity prices, the overall net asset return of the "coal + electricity" sector has exceeded the market's average return. It is economically feasible to extend downstream power generation through the coal-electricity integration model relying on upstream resources.
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.
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