Total profit (including subsidy) of 4,276 major coal enterprises reached 161.44 billion yuan ($21.92 billion) in the first five months, up 109.4% from the year-ago level, showed data released by China National Coal Association.
Operation revenue of these coal enterprises came in at 978.57 billion yuan in January-May, up 28.8% on the year, and operating costs posted an 18.1% yearly increase to 646.28 billion yuan.
Both operation revenue and profits of these enterprises registered large increases in the first five months, indicating favorable development of the sector, according to the association.
Total asset of these major coal enterprises amounted to 5.83 trillion yuan, rising 6.5% from the year before, while liabilities totaled 3.86 trillion yuan, up 8.4% from the previous year, with liability ratio at 66.2%.
Average balance of their circulating funds was 2.28 trillion yuan during the period, up 7.1% from a year ago.
(Writing by Lilya Li Editing by Tammy Yang)
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