China Shenhua's Q3 net profit fell by 6.2%, with continued downward pressure on coal prices | Earnings Report Insights

On Friday, coal giant China Shenhua Energy released its third-quarter results, here are the key points:

• The net profit attributable to shareholders for the third quarter was 14.41 billion yuan, a year-on-year decrease of 6.2%; the net profit attributable to shareholders for the first three quarters was 39.05 billion yuan, a year-on-year decrease of 10.0%;
• Revenue for the first three quarters was 213.15 billion yuan, a year-on-year decrease of 16.6%; gross profit margin was 36.1%, an increase of 2.6 percentage points year-on-year;
• Operating cash flow was 65.25 billion yuan, a year-on-year decrease of 19.9%; basic earnings per share were 1.965 yuan, with a weighted average ROE of 9.35%;

Core business progress:

• Coal business: Sales in the first three quarters were 316.5 million tons (down 8.4%), with an average selling price of 487 yuan/ton (down 13.7%); the gross profit margin for self-produced coal was 39.7%, a year-on-year decrease of 3.1 percentage points
• Power generation business: Electricity sales were 153.1 billion kilowatt-hours (down 5.5%), with an average selling price of 382 yuan/MWh (down 4.5%); gross profit margin was 19.2%, a year-on-year increase of 3.5 percentage points
• Installed capacity: Total installed capacity was 48,681 MW, with an increase of 1,217 MW, of which coal-fired power generation accounted for 93.2%

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