Shaanxi Coal & Chemical Industry's 3Qs profit up 4.6% YoY to 12 bln yuan

sxcoal.com Company,  Production & Sales,  Cost & Profit 2020-10-28 11:38:06

Shaanxi Coal and Chemical Industry Group Co., Ltd. reaped 12 billion yuan ($1.8 billion) of profit in the first three quarters this year, up 4.6% from the year-ago level, according to official source.


The group's operating income picked up 8.9% year on year to 240.2 billion yuan in the period.  


Yubei Coal Industry Co., Ltd., one of its subsidiaries, extracted 8.49 million tonnes of coal in the first quarter when the COVID-19 pandemic was severe in China, with coal sales jumping 40% year on year to 8.52 million tonnes. During the pandemic, its Xiaobaodang mine sent 3.8 million tonnes of coal to Hunan, Hubei and Jiangxi areas which were most severely hit by the pandemic.


Shaanbei Mining Co., Ltd.'s performance also showed steady progress. Its raw coal output increased more than 8 million tonnes in the first nine months of 2020 over the same period last year.


Fugu Energy Development Co., Ltd. is a wholly-owned company of Shaanxi Coal and Chemical Industry Group. In the first three quarters, profit from its controlling and shareholding firms hit 247 million yuan and output value reached 946 million yuan. These firms generated 5.8 TWh of power and produced 5.15 million tonnes of coal and 260,000 tonnes of calcium carbide in the period.


(Writing by Shengnan Liu  Editing by Harry Huo)
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