China Shenhua (01088) announced interim results. Net profit attributable to mother was 32.771 billion yuan, a decrease of 11.1% year-on-year

According to the Zhitong Finance App, China Shenhua (01088) announced its 2024 interim results, achieving revenue of RMB 168.078 billion, a decrease of 0.8% year on year; current profit attributable to company owners was RMB 32.771 billion, a decrease of 11.1% year on year. Basic earnings per share were RMB 1.649.

According to the announcement, the main reasons for the decline in revenue are as follows: the Group made every effort to implement energy insurance and supply tasks, strengthen the safe production of self-produced coal and the organization of purchased coal resources, and achieved a 5.4% year-on-year increase in coal sales. However, due to the impact of the supply and demand situation in the coal market, the average sales price of the Group's coal fell by 5.8%, and coal sales revenue declined year-on-year. Due to the planned maintenance of coal-to-olefin production equipment, sales volume of polyethylene and polypropylene fell by 18.3% and 18.2%, respectively, and sales revenue of the coal chemical division declined year-on-year.