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[Brokerage Focus] First Shanghai maintains a buy rating on China Shenhua Energy (01088), indicating that the inclusion of state-owned enterprise market cap management in the evaluation will help boost the company's valuation.
Jingu Finance News | First Shanghai Research Institute pointed out that China Shenhua Energy (01088) achieved revenue of 168.1 billion yuan in the first half of 2024, a year-on-year decrease of 0.8%; achieved a net income attributable to the parent company of 32.8 billion yuan, a year-on-year decrease of 11.1%. Operating cash net inflow was 52.7 billion yuan, an increase of 13.6% year-on-year; of which the second quarter achieved revenue of 80.4 billion yuan, a decrease of 2.4% year-on-year, and achieved a net income attributable to the parent company of 15 billion yuan, a decrease of 7.2%. The bank pointed out that the company's coal business in the first half of the year achieved a production of 163 million tons, an increase of 1.6% year-on-year; sales volume reached 230 million tons, an increase of 5.4%; its
First Shanghai: Maintains a "buy" rating on China Shenhua Energy with a target price of HK$40.45.
First Shanghai has released a research report stating to maintain a 'buy' rating for China Shenhua Energy (01088). Taking into account the current coal and electricity price levels, the company's net income forecast for 2024-2026 has been adjusted to 60.9/61.4/61.9 billion yuan, with a target price of 40.45 Hong Kong dollars. Looking ahead for the whole year, the company's advantages in integrated operation of industries will continue to be demonstrated, the stable profit level of high-chlorine coal sales structure, and power generation and transportation business will cope with cyclical fluctuations. In the second half of the year, as the impact of the decline in coal prices due to the recovery of thermal power gradually fades, the inclusion of central enterprise market cap management in the assessment will help boost the company's valuation.
Hong Kong stocks are moving unusually | Coal industrial concept continues to rise in the near term, heavyweight policies are expected to boost the economy, black futures continue to rise in the afternoon.
Coal industrial concept continues to rise in the near term. As of the time of publication, Mongolia Energy (00276) rose by 12.31%, to 0.73 Hong Kong dollars; Shougang Res (00639) rose by 6.64%, to 2.71 Hong Kong dollars; Yankuang Energy (01171) rose by 6.49%, to 10.18 Hong Kong dollars; China Shenhua Energy (01088) rose by 5.28%, to 33.9 Hong Kong dollars.
china shenhua energy [01088] is now trading at 33.85 Hong Kong dollars, with a increase of 5.12%.
As of 13:00, China Shenhua Energy [01088] closed at 33.85 Hong Kong dollars, up 1.65 Hong Kong dollars or 5.12% from yesterday's closing price of 32.2 Hong Kong dollars. The turnover was 587.9754 million Hong Kong dollars. The highest price today was 33.85 Hong Kong dollars, and the lowest price was 32.9 Hong Kong dollars. Based on yesterday's closing price, the 10-day average price is 36.27 Hong Kong dollars, and the 50-day average price is 32.75 Hong Kong dollars. The current P/E ratio is 10.28 times, and the 14-day relative strength index is 73.91.
Here's Why China Shenhua Energy (HKG:1088) Can Manage Its Debt Responsibly
[Brokerage Focus] Changjiang Securities expects a reversal of the production and sales dilemma in the coal industry, and anticipates short-term volatility in coke prices to stabilize.
Jingu Finance News | Changjiang Securities issued research reports indicating that, 1) In terms of thermal coal fundamentals, as of September 14, the market price of thermal coal at Qinhuangdao Port was 857 yuan/ton, with a weekly increase of 15 yuan/ton. Looking ahead, the replenishment of high-quality coal sources in the current port market is slow, and the structural shortage issue still exists, but downstream demand release remains restrained. It is expected that the short-term coal price may continue the moderate upward trend. 2) In terms of steel fundamentals, as of September 14, the main coking coal inventory price at Jingtang Port was 1770 yuan/ton, holding steady on a weekly basis. The bank stated that, looking ahead, with the eighth round of coke price reductions and the rebound of steel prices, the losses in coking plants worsen while steel mills turn bullish.
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