China Coal Energy Co Ltd
XMUN:CVV
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China Coal Energy Co Ltd
China Coal Energy is a large Chinese coal company that mines, washes, processes, and sells coal. It produces both thermal coal for power plants and coking coal for steel mills, and it also has businesses in coal chemical products and coal mining equipment. In simple terms, it sits in the middle of the coal supply chain: it takes coal out of the ground, upgrades part of it, and sells it to industrial users. Its main customers are power generators, steel makers, industrial plants, and other coal traders. The company makes most of its money by selling coal, with additional income from coal chemicals, mining machinery, and related services. Because coal is a basic input for electricity and heavy industry, its business is closely tied to China’s energy and manufacturing needs. What makes China Coal Energy different is that it is not just a miner. It combines extraction, processing, trading, and some manufacturing under one roof, which gives it more control over quality and product mix than a pure mining company. That integrated model also makes it an important supplier for customers that want a steady flow of coal and related industrial products.
China Coal Energy is a large Chinese coal company that mines, washes, processes, and sells coal. It produces both thermal coal for power plants and coking coal for steel mills, and it also has businesses in coal chemical products and coal mining equipment. In simple terms, it sits in the middle of the coal supply chain: it takes coal out of the ground, upgrades part of it, and sells it to industrial users.
Its main customers are power generators, steel makers, industrial plants, and other coal traders. The company makes most of its money by selling coal, with additional income from coal chemicals, mining machinery, and related services. Because coal is a basic input for electricity and heavy industry, its business is closely tied to China’s energy and manufacturing needs.
What makes China Coal Energy different is that it is not just a miner. It combines extraction, processing, trading, and some manufacturing under one roof, which gives it more control over quality and product mix than a pure mining company. That integrated model also makes it an important supplier for customers that want a steady flow of coal and related industrial products.
Profit growth: China Coal Energy reported first-half revenue of CNY 73.13 billion and profit of CNY 12.46 billion, up 4.4% year-on-year; shareholder-attributable net profit rose 5.8% to CNY 8.14 billion.
Coal prices: Higher selling prices increased profit by CNY 3.3 billion, more than offsetting the CNY 1.36 billion impact from higher unit costs and the CNY 1.17 billion impact from lower self-produced coal sales volumes.
Production pressure: Self-produced coal output fell by 3.39 million tonnes, or 8%, as stricter safety inspections, geological challenges and production difficulties affected operations. Management said the tighter inspections are unlikely to ease this year.
Second-half outlook: Management plans to maintain its original annual production plan and catch up where possible, but stressed that actual output will depend on safe and compliant execution.
Chemicals outlook: Chemical profitability improved in the first half. Polyolefin margins are expected to remain at an elevated level in the second half, with overall chemical margins expected to be on par with the first half; next year should benefit from incremental Yulin Phase 2 volume.
Projects: The 900,000-tonne Yulin Phase 2 polyolefin project is expected to begin start-up from December 2026, while the Libi and Weizigou coal mines face roughly one-year delays.
Shareholder returns: The company plans to distribute an interim cash dividend of CNY 2.44 billion, or CNY 0.184 per share, expected before the end of October 2026.