Coal pro­duc­ers see bet­ter prof­its

China Daily (Hong Kong) - - BUSINESS -

Coal pro­duc­ers in China have re­ported im­pres­sive prof­its for the first half of this year. Of China’s 37 listed coal com­pa­nies, more than half have es­ti­mated half-year prof­its to dou­ble in the first half of the year from a year ago. In its semi-an­nual re­port filed to the Shen­zhen Stock Ex­change, He­nan Shen­huo Coal and Power Co Ltd said the com­pany’s net prof­its ex­clud­ing non-re­cur­ring gains and losses in­creased more than 11 folds year-on-year to 576 mil­lion yuan ($86 mil­lion) due to a rise in prices. Mean­while, China Shen­hua En­ergy Co, the coun­try’s largest coal miner, an­nounced ear­lier that its firsthalf profit jumped 147 per­cent from the same pe­riod last year to 24.3 bil­lion yuan. The com­pany at­trib­uted the huge rise to higher coal prices.

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