Shaanxi Coal Industry Forecasts Up to 53% Profit Jump in H1
Shaanxi Coal Industry (SHA:601225) expects its attributable net profit for the first half to surge between 47% and 53% year over year, to about 11.23 billion yuan to 11.69 billion yuan, according to a Shanghai bourse filing Friday. The Chinese coal producer attributed the strong earnings growth to higher coal prices driven by supply and demand changes, alongside an increase in investment income realized from the sale of shares in other listed companies. Excluding non-recurring items, the company's core net profit is projected to rise between 31.8% and 38.1% to land between 9.52 billion yuan and 9.98 billion yuan.
Shaanxi Coal Industry (SHA:601225) expects its attributable net profit for the first half to surge between 47% and 53% year over year, to about 11.23 billion yuan to 11.69 billion yuan, according to a Shanghai bourse filing Friday.
The Chinese coal producer attributed the strong earnings growth to higher coal prices driven by supply and demand changes, alongside an increase in investment income realized from the sale of shares in other listed companies.
Excluding non-recurring items, the company's core net profit is projected to rise between 31.8% and 38.1% to land between 9.52 billion yuan and 9.98 billion yuan.