According to a report published by Huatai Securities, Yankuang Energy's net profit for the second quarter declined month-on-month, mainly due to a one-time revenue of 2,843 billion yuan from confirmed sales of Xintai's shares in the first quarter, while deducting non-caliber profit improved markedly from month to month. The overall interim results were in line with the bank's previous expectations, mainly driven by a sharp rise in volume and price in the coal and coal chemical sector in the second quarter. The bank is optimistic that the coal price center is expected to maintain a high level in the context of tight coal supply and demand in the second half of the year, and that coal chemical profit elasticity brought about by improved oil and coal price ratios; at the same time, the injection of high-quality electricity assets is expected to open up room for long-term growth. The bank lowered Yankuang Energy's 2026-2028 net profit forecast to 18.791 billion yuan, 13.984 billion yuan and 14.374 billion yuan, taking into account factors such as the shutdown of the Jisan Electric Power Plant unit, unsettled asset injections, tightened safety supervision, and falling short of expectations, respectively. The bank maintained its “buy” rating and lowered the target price for H shares from HK$22.46 to HK$16.02 and the target price for A shares from $29.64 to $26.78.

According to a report published by Huatai Securities, Yankuang Energy's net profit for the second quarter declined month-on-month, mainly due to a one-time revenue of 2,843 billion yuan from confirmed sales of Xintai's shares in the first quarter, while deducting non-caliber profit improved markedly from month to month. The overall interim results were in line with the bank's previous expectations, mainly driven by a sharp rise in volume and price in the coal and coal chemical sector in the second quarter. The bank is optimistic that the coal price center is expected to maintain a high level in the context of tight coal supply and demand in the second half of the year, and that coal chemical profit elasticity brought about by improved oil and coal price ratios; at the same time, the injection of high-quality electricity assets is expected to open up room for long-term growth. The bank lowered Yankuang Energy's 2026-2028 net profit forecast to 18.791 billion yuan, 13.984 billion yuan and 14.374 billion yuan, taking into account factors such as the shutdown of the Jisan Electric Power Plant unit, unsettled asset injections, tightened safety supervision, and falling short of expectations, respectively. The bank maintained its “buy” rating and lowered the target price for H shares from HK$22.46 to HK$16.02 and the target price for A shares from $29.64 to $26.78.