NEWS

China: Coal production rises and prices fall in the first half of the year, a number of power companies exploded

Affected by the increase in coal production and falling prices, the performance of a number of power enterprises exploded in the first half of this year.

Take Changyuan Electric Power as an example, from January to June, the company achieved operating income of 3.403 billion yuan, an increase of 17.75% over the same period last year, and the net profit attributable to the shareholders of listed companies was 255 million yuan, an increase of 955.17% over the same period last year.

In addition, from January to June 2019, Huadian International’s net profit attributable to shareholders of the parent company was RMB 1.652 billion, an increase of 67.43 per cent over the same period last year. According to the semi-annual report of Shanghai Electric Power, operating income in the first half of the year was 11.538 billion yuan, an increase of 4.55 percent over the same period last year, and net profit attributable to the parent company was 624 million yuan, an increase of 71.2 percent over the same period last year.

Haixing Electric Power achieved operating income of 1.374 billion yuan in the first half of this year, an increase of 16.69 percent over the same period last year, and a net profit of 281 million yuan, an increase of 72.66 percent over the same period last year. CIC Power released its semi-annual report in 2019, showing that in the first half of the year, the company achieved operating income of 19.609 billion yuan, an increase of 10.25 percent over the same period last year, and the net profit of the parent company was 2.276 billion yuan, an increase of 44.92 percent over the same period last year.

Behind this, the decline in coal prices played an important role, such as Changyuan Electric Power pointed out that in the first half of this year, the company completed the comprehensive standard coal price of 747 yuan / ton, down 32.42 yuan / ton from the same period last year. Electricity generation rose year on year, coal prices fell, resulting in a net increase in operating profit of about 289.89 million yuan in the first half of this year.

It is expected that in the second half of the year, as the advanced production capacity of the coal market continues to be released in an orderly manner, railway transport capacity will increase, and under the control of the relevant national coal-related policies, the trading price of the coal market is expected to return to the green range, and the amplitude of shock will be reduced.

https://news.metal.com/newscontent/100968636/coal-production-rises-and-prices-fall-in-the-first-half-of-the-year-a-number-of-power-companies-exploded/

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