The Zhitong Finance App learned that China Coal Energy (01898) fell more than 2% in the morning. As of press release, it was down 1.54% to HK$9.595, with a turnover of HK$71.6812 million.
According to the news, China Coal Energy recently announced that for the nine months ended September 30, 2026, operating income was 115.636 billion yuan, up 4.6% year on year; net profit attributable to shareholders of listed companies was 12.749 billion yuan, up 2.1% year on year. Citibank said that after deducting impairment losses, the bank calculated a recurring net profit of RMB 12.9 billion for the first nine months, an increase of 2% over the previous year. Net profit for the third quarter is estimated to be RMB 4.6 billion, down 4% year on year and up 7% from quarter to quarter. This is lower than expected due to higher coal unit costs, sales and administrative expenses, and financial expenses than expected. Excluding depreciation, recurring net profit for the third quarter was RMB 4.6 billion, down 2% year on year and up 3% quarter on quarter.
China Galaxy Securities, on the other hand, pointed out that the company's commercial coal production in the first three quarters and the third quarter of '26 was 93.38 million tons and 31.43 million tons, respectively, down 8.1% and 9.1% year-on-year, respectively. The decline in production was mainly due to stricter safety inspections. In addition, Q3 financial expenses of 680 million yuan (up 39.8% year on year) and management expenses of 1.5 billion yuan (up 15.4% year on year) also dragged down overall Q3 results. Looking ahead to Q4, with the introduction of insurance and supply policies one after another, coal mine production is expected to gradually resume. Combined with the peak winter season boosting the coal price center, the bank expects the company's overall performance to improve markedly.