Although the official semi-annual report has not yet been released, but from the published performance expectations, the coal companies that benefit from the downstream power industry and the coke enterprises involved in the steel industry have experienced polarization in the first half of the year. Will be inevitable.
Shanmei International, Guoyang Xinneng, etc. have released performance reports recently. Among them, Shanmei International expects that the company's net profit in the first half of the year will increase by 32.01% year-on-year, benefiting from increased production and rising prices. The performance report released by Guoyang Xinneng and Pingmei Co., Ltd. also showed that the two companies expected net profit growth of 41.87% and 44.52% in the first half of the year, respectively, and the share price per share reached 0.517 yuan and 0.7 yuan.
However, this increase is not high compared to the two companies that disclosed the report. Yanzhou Coal is expected to increase its performance by more than 100%, while Shenhuo’s performance increase announcement shows that the company’s net profit will increase by 200%-250%.
"The high price of coal prices in the past six months is the main reason for the performance of the company." Zhuo Chuang information analyst Yan Zhen said. In addition, the reduction in supply caused by coal industry consolidation and the overall economic recovery are also factors in the rise in coal prices.
In contrast, coke companies have been much more frustrated in the past six months. Listed companies such as Meijin Energy and ST Shanjiao have predicted losses in the first half of the year. Yan Zhen said: “Coke enterprises are living in the industrial chain of this coal-coking-steel industry, and the upstream is subject to the price of coal, and the downstream is subject to the performance of the steel market.â€
Since April this year, domestic steel prices have started to fall, and it is still in the process of bottoming out. Zhen Zhen said: "Coke has a much faster response to the steel market than coal. As long as the downstream is weak, it will show up. The coke industry can't stop the furnace because the maintenance cost of shutting down once is equivalent to buying another set of equipment."
Earlier, there were authoritative sources that coal would usher in a double dip. Yu Zhen said that the economic operation in the third quarter usually slows down, and the downturn in the steel market will not only affect the situation of coking coal, but also affect the coal. Therefore, she believes that the entire coke sector is still difficult in the second half of the year, and the profit growth of coal-based enterprises may also narrow. In fact, coal prices in some areas have recently shown signs of loosening. Zhuo Chuang data shows that coal prices in Shandong have been greatly reduced. The leading coal enterprise Yankuang Group has lowered 20 yuan. If the preferential part is included, the reduction will reach 50-60 yuan, and the fine coal reduction will reach 50 yuan.
Shanmei International, Guoyang Xinneng, etc. have released performance reports recently. Among them, Shanmei International expects that the company's net profit in the first half of the year will increase by 32.01% year-on-year, benefiting from increased production and rising prices. The performance report released by Guoyang Xinneng and Pingmei Co., Ltd. also showed that the two companies expected net profit growth of 41.87% and 44.52% in the first half of the year, respectively, and the share price per share reached 0.517 yuan and 0.7 yuan.
However, this increase is not high compared to the two companies that disclosed the report. Yanzhou Coal is expected to increase its performance by more than 100%, while Shenhuo’s performance increase announcement shows that the company’s net profit will increase by 200%-250%.
"The high price of coal prices in the past six months is the main reason for the performance of the company." Zhuo Chuang information analyst Yan Zhen said. In addition, the reduction in supply caused by coal industry consolidation and the overall economic recovery are also factors in the rise in coal prices.
In contrast, coke companies have been much more frustrated in the past six months. Listed companies such as Meijin Energy and ST Shanjiao have predicted losses in the first half of the year. Yan Zhen said: “Coke enterprises are living in the industrial chain of this coal-coking-steel industry, and the upstream is subject to the price of coal, and the downstream is subject to the performance of the steel market.â€
Since April this year, domestic steel prices have started to fall, and it is still in the process of bottoming out. Zhen Zhen said: "Coke has a much faster response to the steel market than coal. As long as the downstream is weak, it will show up. The coke industry can't stop the furnace because the maintenance cost of shutting down once is equivalent to buying another set of equipment."
Earlier, there were authoritative sources that coal would usher in a double dip. Yu Zhen said that the economic operation in the third quarter usually slows down, and the downturn in the steel market will not only affect the situation of coking coal, but also affect the coal. Therefore, she believes that the entire coke sector is still difficult in the second half of the year, and the profit growth of coal-based enterprises may also narrow. In fact, coal prices in some areas have recently shown signs of loosening. Zhuo Chuang data shows that coal prices in Shandong have been greatly reduced. The leading coal enterprise Yankuang Group has lowered 20 yuan. If the preferential part is included, the reduction will reach 50-60 yuan, and the fine coal reduction will reach 50 yuan.
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