The Zhitong Finance App learned that Morgan Stanley released a research report saying that China's Shenhua (01088) net profit for the first nine months of this year increased 4% year on year to 44 billion yuan, which meant that net profit for the third quarter increased 3% year on year to 15.7 billion yuan, which is generally in line with market expectations. The bank maintains an “Overweight” rating and a target price of HK$48.3.

The bank expects the company's fourth-quarter earnings to remain resilient. The resumption of production in coal mines in Shanxi is still progressing, but due to strict safety inspections and changes in the mentality of coal mining enterprises, the overall resumption of production is slow. Furthermore, demand for pre-heating storage and power plant inventories are low in winter, and thermal coal prices are expected to fluctuate at a high level in the short term, which means that China Shenhua's profit will be resilient before the end of the year.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.