Completion of Coal-Chemical Restructure Leads to Datang’s Full-Year Net Loss in 2016
Datang’s warning of a full-year net loss of CNY 2.5 billion-2.8 billion in 2016 was well expected, and is mainly driven by a CNY 5.5 billion one-off impairment loss following the completion of its coal-chemical asset disposal. Despite pressures from surging coal prices and a lower average tariff amid an increasing share of direct power sales, Datang’s power segment saw a decent CNY 0.3 billion-0.6 billion profit in the fourth quarter, which suggests the company maintained good cost control in th...
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