China Coal Energy H1 net profit up nearly 76% on yr

sxcoal.com Company,  Cost & Profit 2022-08-26 14:50:50

State-owned coal miner China Coal Energy's net profit surged 75.66% in the first half of 2022 from a year earlier amid a solid increase in coal sales income, according to its semi-annual report released on August 25.


Net profit grew to 13.38 billion yuan ($1.95 billion) in January-June. Revenue of the company was 118.04 billion yuan in the first half, a 15.5% rise from 15.86 billion in the same period of 2021.


Profit attributable to the equity holders of the company was 14.53 billion yuan, soaring 69.5% on the year. Basic earnings per share of the company amounted to 1.10 yuan, representing a year-on-year increase of 0.45 yuan. EBITDA was 29.076 billion yuan, a 45.9% jump.


By industry, in the first half of 2022, the operating revenue of coal business was 101.83 billion yuan, up 17.3%; operating revenue after inter-segment transactions was 96.75 billion yuan, up 16.6% from 82.976 billion in the first half of 2021.


Coal chemical business achieved operating revenue of 12.40 billion yuan, an increase of 16.3%; operating revenue after inter-segment transactions was 12.16 billion, up 16.0%, mainly due to increased sales price of coal chemical products.


Coal mining equipment business achieved revenue of 5.42 billion yuan, up 9.2% year on year; operating revenue after inter-segment transactions was 4.76 billion yuan, up 7.4%. The increase in revenue was mainly due to the further optimization of the product structure and the increase in demand for related products driven by the intelligent upgrading and transformation of coal mines.


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

Share this article
Connect with us

Editor's Pick

1 Indonesian coal stays range-bound; still competitive against Chinese coal 2022-11-25

Indonesian thermal coal prices have kept range-bound this week, little affected by a tremendous fall in the Chinese domestic market, as Indonesian coal still maintained advantages.

2 China's thermal coal prices continue falling amid COVID 2022-11-25

China's portside thermal coal market witnessed another downward session on November 25, extending the losing streak since late October, as COVID outbreaks prompted the government to tighten restrictio

3 China's coking coal price rallies weigh on coke production, profit 2022-11-25

Chinese metallurgical coke firms started to lose production enthusiasm, with the first round of increase in coke prices offset by the fast-rising coking coal costs, which led to sustained losses.

4 China's thermal coal mine-mouth prices continue to fall 2022-11-25

Chinese thermal coal miners continued to cut offer prices, a move to accelerate sales and reduce stock pressure which amounted alongside sluggish demand. As of November 23, Sxcoal's weekl

5 Weekly global coal market news summary (Nov 21-25) 2022-11-25

Indonesian low-CV thermal coal prices stable despite weak demand Indonesian low-CV thermal coal prices were largely unchanged on November 24 as limited availability offset the gloomy Chinese

6 Weekly China coal market news summary (Nov 21-25) 2022-11-25

Infographic | China's coal imports in Oct 2022 Infographic | China's coal imports in Oct 2022 China's thermal coal supply still exceeds demand in Oct, Sxcoal data Chi

7 China Coal Daily Track (Nov 25) 2022-11-25

Thermal coal Production area Except coal shipments for supply guarantee purpose, other sales were impacted by the resurgent COVID and sluggish demand from end users, further weighing down coal p

8 China futures market updates at close (Nov 25) 2022-11-25

Check out latest updates on the Chinese futures market for thermal coal, coking coal, coke and others at close.

9 Nippon Steel to buy more coking coal mine stakes for supply 2022-11-25

Nippon Steel Corp, Japan's No.1 and the world's fourth-largest steelmaker, plans to buy more stakes in coking coal mines in a move to ensure stable supply for steel production as the Russian coal ban

10 China's coal-rich Xinjiang issues 2023 coal term contract guideline 2022-11-25

Northwestern China's Xinjiang autonomous region has issued a guideline for signing medium- and long-term coal contracts for 2023 to give fully play to the role as China's fourth largest produciton bas

Most Read Articles

1 China Oct thermal coal imports fall 12.26% from 10-mth high, GAC 2022-11-21

China's thermal coal imports in October decreased 12.26% from a month ago to 22.26 million tonnes, showed data from the General Administration of Customs on November 21. Oct

2 India reimposes import duty on coking coal, coke. What does it mean for steel sector? 2022-11-22

The Union Finance Ministry has reintroduced import duties of 5% and 2.5% on metallurgical coke and coking coal, respectively, which were revoked in end-May this year. The Russia-Ukraine w

3 China's thermal coal miners accelerate price cuts to boost sales 2022-11-23

Thermal coal miners at China's main production areas started to accelerate price downside revisions from November 22, Sxcoal learned from local miner sources. The move tries to boost sales and relieve

4 India, Australia to embrace free-duty coal trades with passage of FTA 2022-11-22

India will enjoy zero imports duty for coal from Australia after a Free Trade Agreement between the two countries was finalized on November 22, sources reported. This came after the FTA o

5 China's thermal coal miners expect further price cuts on sluggish demand 2022-11-22

China's thermal coal miners at main production areas expressed their pessimism about further price cuts in the near term, as coal sales didn't show notable improvement signs since previous declines.

6 China Oct coking coal imports surge 41.6% YoY, GAC 2022-11-21

China imported 6.21 million tonnes of coking coal in October, surging 41.6% year on year, customs data showed on November 21. The volume was 9.3% lower compared with the pre

7 Germany Sep hard coal imports rebound to 5-mth high 2022-11-24

Germany's hard coal imports reached 2.88 million tonnes in September, a 7.3% rise year on year, rebounding to a five-month high, preliminary data from German Statistics Bureau showed.

8 China's daily crude steel production up 0.76% in mid-Nov 2022-11-23

Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2 million tonnes during November 11-20, up 0.76% compared with the previous ten days, the CISA data sho

9 Weekly China coking coal market analysis and forecast 2022-11-21

Coking coal prices rebounded in China's main production areas last week as some low-stocked coke makers started purchases after seeing recovered profits and rising futures. This alleviated stock press

10 China issues guideline for 2023 domestic thermal coal contract signing 2022-11-21

China's national economic planner late last week issued the guidance for the signing of 2023 domestic thermal coal medium- and long-term contracts, a key move to shape the overall supply pattern next