Summary Vinacomin - Coc Sau Coal - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Vinacomin - Coc Sau Coal (Vinacomin-Coc Sau), a subsidiary of Vietnam National Coal - Mineral Industries Holding Corporation Ltd, is a coal exploration, mining, and processing company. The comp...
A director at Yankuang Energy Group Company Ltd bought 60,400 shares at 0.000CNY and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
The general evaluation of YANZHOU COAL MINING (CN), a company active in the Coal industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date March 11, 2022, the closing price was CNY 32....
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
China’s domestic thermal coal prices hit a decade-high level in 1Q21. Despite it being the traditional slow season, coal inventory at the QHD port has been trending down since end-Feb 21, indicating strong downstream demand. Raw coal production remained steady in 2M21 while imports contracted. We expect coal prices to remain strong in the near term. We believe leading coal names’ strong 1Q21 results will support the valuation recovery. Upgrade China’s coal sector to MARKET WEIGHT.
Thermal coal price continued to trend down in the first half of July, due to quick coal production ramp-up since June, sufficient inventory levels at key IPPs and lacklustre thermal power generation. With an additional 160m of newly-approved coal capacity in 1H19 coming on stream and softening demand amid concerns over slowing economic growth, we expect thermal coal price to decline gradually in 2H19. We see unexciting results from coal names in 1H19. Maintain UNDERWEIGHT on China’s coal secto...
The coal market has yet to rebound entering the peak demand season in summer, partly due to stronger hydro power generation than in 2018. The ytd market move affirms our cautious view on the coal sector in 2019. Looking ahead, we expect coal prices to gradually decline with rising supply and softening demand. Downgrade the sector to UNDERWEIGHT. Top pick: Shenhua (1088 HK) with a lower target price of HK$20.38.
No-moat Yanzhou Coal’s first-quarter result, with net profit rising 4% year over year to CNY 2.3 billion under PRC GAAP, was largely in line with our expectations. We maintain both our 2019 net profit forecast of CNY 9.7 billion, as well as our fair value estimate of HKD 8.00 per share, as key production assumptions and our long-term bearish coal price outlook are unchanged. Following a 36% share price rise from the beginning of the 2019, we think the shares are fairly valued, with the uptick ...
No-moat Yanzhou Coal’s first-quarter result, with net profit rising 4% year over year to CNY 2.3 billion under PRC GAAP, was largely in line with our expectations. We maintain both our 2019 net profit forecast of CNY 9.7 billion, as well as our fair value estimate of HKD 8.00 per share, as key production assumptions and our long-term bearish coal price outlook are unchanged. Following a 36% share price rise from the beginning of the 2019, we think the shares are fairly valued, with the uptick ...
Following largely in line results, we maintain both our 2019 net profit forecast of CNY 9.7 billion as well as our fair value estimate of HKD 8.00 per share for no-moat rated Yanzhou Coal, as key production assumptions and our long-term bearish coal price outlook are unchanged. Following a 42% share price rise from the bottom of HKD 5.96 at the beginning of 2019, we think the shares are fairly valued, with an uptick in production growth and coal prices largely reflected. Along with a slowing ec...
Following largely in line results, we maintain both our 2019 net profit forecast of CNY 9.7 billion as well as our fair value estimate of HKD 8.00 per share for no-moat rated Yanzhou Coal, as key production assumptions and our long-term bearish coal price outlook are unchanged. Following a 42% share price rise from the bottom of HKD 5.96 at the beginning of 2019, we think the shares are fairly valued, with an uptick in production growth and coal prices largely reflected. Along with a slowing ec...
Following largely in line results, we maintain both our 2019 net profit forecast of CNY 9.7 billion as well as our fair value estimate of HKD 8.00 per share for no-moat rated Yanzhou Coal, as key production assumptions and our long-term bearish coal price outlook are unchanged. Following a 42% share price rise from the bottom of HKD 5.96 at the beginning of 2019, we think the shares are fairly valued, with an uptick in production growth and coal prices largely reflected. Along with a slowing eco...
China will lower the value-added tax, or VAT, rates as part of a CNY 2 trillion cost cut package to support the slowing economy and tariff dispute with the U.S. This favors Chinese coal producers, who will enjoy a 3% VAT rate cut to 13% on domestic coal production. We expect the VAT rate cut to boost net profits by 4%-10% for the major coal producers we cover, after taking into account the cost-side VAT rate cuts. Among these, we think China Coal is best positioned to benefit with estimated 8%-1...
China will lower the value-added tax, or VAT, rates as part of a CNY 2 trillion cost cut package to support the slowing economy and tariff dispute with the U.S. This favors Chinese coal producers, who will enjoy a 3% VAT rate cut to 13% on domestic coal production. We expect the VAT rate cut to boost net profits by 4%-10% for the major coal producers we cover, after taking into account the cost-side VAT rate cuts. Among these, we think China Coal is best positioned to benefit with estimated 8%-1...
Yanzhou Coal’s third-quarter performance was a little disappointing. Recurring net profit fell 4.6% year over year to CNY 1.4 billion under PRC GAAP, despite the strong turnaround at Yancoal Australia following its acquisition of Allie & Coal in September 2017. The near-term challenge remains stricter safety controls in China, which led to a 15% production cut quarter on quarter, as well as a boost in unit production cost on operating leverage. We expect the headwinds to persist through the fo...
Yanzhou Coal’s third-quarter performance was a little disappointing. Recurring net profit fell 4.6% year over year to CNY 1.4 billion under PRC GAAP, despite the strong turnaround at Yancoal Australia following its acquisition of Allie & Coal in September 2017. The near-term challenge remains stricter safety controls in China, which led to a 15% production cut quarter on quarter, as well as a boost in unit production cost on operating leverage. We expect the headwinds to persist through the fo...
Yanzhou Coal’s third-quarter performance was a little disappointing. Recurring net profit fell 4.6% year over year to CNY 1.4 billion under PRC GAAP, despite the strong turnaround at Yancoal Australia following its acquisition of Allie & Coal in September 2017. The near-term challenge remains stricter safety controls in China, which led to a 15% production cut quarter on quarter, as well as a boost in unit production cost on operating leverage. We expect the headwinds to persist through the .....
With acquisitions of Inner Mongolia and Australia assets, Yanzhou Coal is finally ready to ramp up capacity. While capacity growth remains a near-term growth driver for Yanzhou, China's shifting away from coal and energy-intensitive economic growth should mean demand headwinds, painting a grim future. With low expectations, Yanzhou is capable of delivering positive surprises. We expect management to reduce labor intensity and shut down higher-cost mines. While this strategy provides a lift to sh...
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...
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