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2026-09-18 11:02:43 M Stanley issued a research report saying that management of CHINA SHENHUA (01088.HK) stated at a meeting that production in 1H26 was lower, while full-year production guidance was maintained at 513 million tonnes unchanged. The lower production in the first half was mainly due to the slow progress of land acquisition in Inner Mongolia, rainy weather affecting coal mine stripping volume, and changes in mining workfaces. Management believes the ongoing safety inspections have had no impact on production. The broker noted that the National Development and Reform Commission earlier said it would arrange to increase coal shipments out of Xinjiang, but management believes the short-term impact is limited due to constrained transportation capacity and relatively high railway costs. Transportation cost for shipping coal from Xinjiang to eastern coastal ports is about RMB600 per tonne. Unless coal prices remain above RMB860 per tonne, the volume available for outbound shipment will be limited. The broker maintained its Overweight rating and HKD48.3 TP on CHINA SHENHUA (01088.HK). (ha/ad)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |