Yanzhou Coal's long-term future remains grim.
No-moat Yanzhou Coal’s decent first-half growth, with net profit rising 34% year over year to CNY 4.6 billion, was boosted by the strong turnaround at Yancoal Australia following its acquisition of Coal & Allied in September 2017. Commercial coal production jumped 40% year over year, with Yancoal Australia contributing 76% of the increment. The sound profitability at Coal & Allied also expanded Yancoal Australia’s gross margin to 53.6% in the first half from 49.1% a year ago. Domestic co...Yanzhou Coal Mining is engaged in the production of coal, which involves the mining, washing, processing and distribution of coal through railway transportation. Co. offers coal products including thermal coal, semi-hard coking coal, semi-soft coking coal, PCI coal and other mixed coal products which are sold to power plants, metallurgical mills, chemical manufacturers, construction material manufacturers and fuel trading companies in the People's Republic of China and other countries, including Japan and South Korea. Co. is organized into 3 operating divisions: coal mining, coal railway transportation and methanol, electrical and heat supply.
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