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    China Shenhua expects 2023 net profit to fall over 12% YoY

    sxcoal.com Company 2024-01-31 13:50:59

    China Shenhua Energy Co., Ltd., the top-listed coal mining company in the country, expected its net profit attributable to shareholders to reach 57.8-60.8 billion yuan ($7.71-8.11 billion) in 2023, falling 12.6-16.9% year on year, the company said in an announcement to the Shanghai Stock Exchange on January 31.

     

    Net profit attributable to the company's shareholders excluding non-recurring gains and losses is expected to be 61.3-64.3 billion yuan, a decrease of 6-9 billion yuan or 8.5-12.8%.

     

    The company noted factors such as increased electricity sales and declined coal purchasing prices, and investment returns from other joint ventures contributed to profit increments, while factors like reduced coal selling prices and increased railways maintenance dragged down profitability.

     

    (Writing by Rebecca Liu  Editing by Harry Huo)
    For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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