Core Viewpoint - China Qinfa (00866) has seen a stock price increase of over 6%, currently trading at 3.1 HKD, with a transaction volume of 9.1163 million HKD, following the announcement of progress in coal mining development in Indonesia [1] Group 1: Company Developments - On November 3, China Qinfa announced that its wholly-owned subsidiary PT Trisula Sumber Energi (TSE) provided an update on coal mining development in South Kalimantan, Indonesia [1] - The TSE coal mine is located in the northern part of Kotabaru County, South Kalimantan, covering an area of 168 square kilometers, including parts of Kelumpang Hulu and Kelumpang Barat [1] - The TSE coal mine is currently in the pre-operational planning stage, with construction activities expected to commence in the first quarter of 2026 [1] Group 2: Financial Performance - According to Minsheng Securities, in the first half of 2025, the company's Indonesian operations achieved a profit of 24 million CNY, an increase of 67 million CNY year-on-year, indicating improved profitability [1] - The company currently holds mining rights for five major mining areas in Indonesia: SDE, TSE, SME, VSE, and IMJ, with the SDE mining area having a planned production capacity of 30 million tons [1] - Given the development experience from the SDE mining area and advantages in resources, approvals, costs, and operational models, the company has significant growth potential and is expected to become a benchmark for overseas projects [1]

Core Viewpoint - The Hong Kong coal stocks experienced a collective surge, driven by a significant drop in temperatures across northern regions of China, marking the onset of the seasonal demand peak for coal [1] Group 1: Market Performance - Notable increases in coal stock prices include Feishang Non-Smoking Coal, which surged by 108.33%, and Yanzhou Coal Mining Company, which rose by over 5% [2] - Other companies such as China Shenhua and Power Development saw increases of 2% [2] Group 2: Weather Impact - Northern China faced extreme temperature drops, with temperatures in Mohe, Heilongjiang reaching -25°C, and parts of Inner Mongolia dropping below -30°C, marking the coldest temperatures in a decade [1] - Snow depths in regions like Heilongjiang exceeded 30 cm, with some areas approaching 50 cm, setting historical records [1] Group 3: Supply and Demand Dynamics - The coal market in the first half of 2025 was characterized by a generally loose supply and insufficient demand, leading to a downward trend in coal prices [1] - However, the current seasonal demand and policy-driven supply reductions may create a favorable shift in the supply-demand balance, potentially leading to a recovery in coal sector valuations [1]

Core Viewpoint - The coal sector is experiencing a rise in stock prices, driven by expectations of increased coal prices due to the heating season and enhanced safety regulations [1] Group 1: Stock Performance - Yanzhou Coal Mining Company (兖矿能源) shares rose by 5.62%, reaching HKD 11.67 [1] - China Qinfa (中国秦发) shares increased by 4.79%, reaching HKD 3.06 [1] - China Coal Energy (中煤能源) shares rose by 3.2%, reaching HKD 11.3 [1] - China Shenhua Energy (中国神华) shares increased by 2.47%, reaching HKD 41.46 [1] Group 2: Market Analysis - Zhongtai Securities (中泰证券) reports that coal prices are expected to maintain an upward trend due to the heating season and safety production assessments [1] - Recent constraints on coal supply and increased demand for coal during the winter peak are contributing to a stable rise in coal prices [1] - Port coal prices have remained above CNY 770 per ton, marking a mid-year high [1] Group 3: Future Outlook - The firm anticipates that coal prices will continue to rise in November, supported by the heating season and comprehensive safety production evaluations [1] - The coal sector has seen significant declines this year, leading to low institutional holdings and a healthy trading structure [1] - The demand for non-electric coal during the peak season and the release of winter demand are expected to further strengthen coal prices [1] - The third-quarter reports from listed companies indicate a sequential improvement in the performance of thermal coal enterprises, confirming a rebound in the industry [1] - Coking coal companies are experiencing lagging improvements due to long-term pricing mechanisms, but the overall upward trend remains intact [1] - The company maintains a positive outlook on investment opportunities in the new coal upcycle [1]

Core Viewpoint - Coal stocks are experiencing an upward trend, driven by the onset of the heating season and strengthened safety regulations, which are expected to support coal prices in a fluctuating upward trajectory [1] Group 1: Market Performance - Major coal stocks such as Yanzhou Coal Mining (01171) rose by 5.62% to HKD 11.67, China Qinfa (00866) increased by 4.79% to HKD 3.06, China Coal Energy (01898) gained 3.2% to HKD 11.3, and China Shenhua (01088) went up by 2.47% to HKD 41.46 [1] - Port coal prices have remained above RMB 770 per ton, marking a mid-year high [1] Group 2: Price Outlook - According to Zhongtai Securities, coal prices are expected to maintain a fluctuating upward trend in November due to the heating season and comprehensive safety production assessments [1] - The report highlights that the coal sector has seen a significant cumulative decline this year, leading to low institutional holdings and a healthy chip structure, indicating that trading is not crowded [1] Group 3: Demand and Supply Dynamics - The constraints on coal supply due to "anti-involution" expectations and the release of demand from the "peak winter" expectations are contributing to a stable increase in coal prices [1] - The improvement in supply and demand dynamics is expected to catalyze further strengthening of coal prices, particularly with the non-electric coal entering its peak season [1] Group 4: Company Performance - The third-quarter reports from listed companies indicate a sequential improvement in the performance of thermal coal enterprises, confirming a bottoming out and upward trend in the industry [1] - Coking coal enterprises are experiencing lagging improvements in profitability due to long-term pricing mechanisms, but the overall upward trend remains intact [1] - The company continues to see investment opportunities in the new coal upcycle [1]

Group 1 - The coal stocks in the Hong Kong market experienced a collective surge, with notable increases in smaller coal companies such as Feishang Non-Smoking Coal, which saw a price increase of 108.33% [1][2] - Major coal companies also reported gains, including Yanzhou Coal Mining Company which rose over 5%, and China Qinfa Group which increased by 4.8% [1][2] - The recent extreme cold weather in northern China, with temperatures dropping to historical lows, has triggered the seasonal demand for coal, marking the beginning of the peak consumption period [1] Group 2 - The coal market faced a generally loose supply and insufficient demand in the first half of 2025, leading to a downward trend in coal prices [1] - However, the current seasonal demand and policy-driven supply reductions may create a shift in the supply-demand balance, potentially providing an opportunity for the coal sector to recover from its low valuation [1]

Core Viewpoint - China Qinfa's stock has increased by over 6%, reaching HKD 3.1, with a trading volume of HKD 9.1163 million, following the announcement of progress in coal mining development in Indonesia [1] Group 1: Company Developments - On November 3, China Qinfa announced that its wholly-owned subsidiary PT Trisula Sumber Energi (TSE) provided an update on coal mining development in South Kalimantan, Indonesia [1] - The TSE coal mine is located in the northern part of Kotabaru County, covering an area of 168 square kilometers, and is currently in the pre-operational planning stage, with construction expected to begin in Q1 2026 [1] Group 2: Financial Performance - In the first half of 2025, China Qinfa's Indonesian operations achieved a profit of CNY 24 million, an increase of CNY 6.7 million year-on-year, indicating improved profitability [1] - The company holds mining rights for five major mining areas in Indonesia, including SDE, TSE, SME, VSE, and IMJ, with the SDE mining area having a planned production capacity of 30 million tons [1] Group 3: Future Outlook - Given the development experience from the SDE mining area and advantages in resources, approvals, costs, and operational models, the company has significant growth potential and is expected to become a benchmark for overseas projects [1]

Group 1 - As of November 3, China Qinfa (00866.HK) increased by 5.48% [1] - Yanzhou Coal Mining (01171.HK) rose by 3.66% [1] - China Coal Energy (01898.HK) saw an increase of 1.64% [1]

Core Viewpoint - The company announces the latest development progress of its wholly-owned subsidiary PT Trisula Sumber Energi (TSE) in coal mining in South Kalimantan, Indonesia, highlighting the project's potential and timeline for construction [1] Group 1: Project Details - TSE coal mine is located in North Kotabaru, South Kalimantan, covering an area of 168 square kilometers, including parts of Kelumpang Hulu and Kelumpang Barat [1] - The mining business license (No. 03/1/IUP/PMA/2024) is valid for ten years until May 14, 2034, with a possibility of a ten-year extension [1] - Currently, the TSE coal mine is in the pre-operational planning stage and construction activities are expected to commence in the first quarter of 2026 [1] Group 2: Resource Estimates - The coal quality at TSE ranges from 4,990 to 6,056 kcal/kg, which is superior to the existing SDE coal mine's level of approximately 4,500 kcal/kg [1] - As of September 30, 2025, the estimated coal reserves at TSE are 379 million tons, with total estimated coal resources (proven + controlled) of 897 million tons [1]

Core Viewpoint - China Qinfa (00866.HK) announced the latest development progress of its wholly-owned subsidiary PT Trisula Sumber Energi (TSE) in coal mining in South Kalimantan, Indonesia [1] Group 1: Project Details - TSE coal mine is located in the northern part of Kotabaru County, South Kalimantan Province, Indonesia, covering an area of 168 square kilometers [1] - The mining operation license for TSE is valid for ten years until May 14, 2034, with a possibility of a ten-year extension [1] - Currently, TSE coal mine is in the pre-operational planning stage and construction activities are expected to commence in the first quarter of 2026 [1] Group 2: Resource Estimates - The estimated coal reserves of TSE coal mine are 378.79 million tons, with total estimated coal resources (proven + controlled) of 897.14 million tons [1] - The coal calorific value of TSE coal ranges from 4,990 to 6,056 kilocalories per kilogram, which is superior to the existing SDE coal mine's level of approximately 4,500 kilocalories per kilogram [1]

香 港 交易 及 結 算 所 有限 公 司 和 香港 聯 合 交 易 所有 限 公 司 對 本公 佈 的 內 容概 不 負 責， 對 其 準 確 性或 完 整 性 亦不 發 表 任 何 聲明 ， 並 明 確 表示 概 不 就 因本 公 佈 全部 或 任 何 部 分內 容 而 產 生或 因 依 賴 該 等內 容 而 引 致 的任 何 損 失 承擔 任何責任。 中 國 秦 發 集 團 有 限 公 司 CHINA QINFA GROUP LIMITED （ 於開曼群島註冊成立的有限公司） （股份代號︰00866） 自願公佈 TSE煤礦之煤炭資源及 儲量的最新情況 本 公 佈 由 中 國 秦 發 集 團 有 限 公 司（「 本 公 司 」， 連 同 其 附 屬 公 司 統 稱「 本 集 團 」）自 願 作 出 ， 旨 在 向 本 公 司 股 東 及 潛 在 投 資 者 提 供 本 集 團 最 新 業 務 更 新。 本公司欣然宣佈，全資附屬公司PT Trisula Sumber Energi（「TSE」）於印度尼 西亞南加里曼丹之煤礦開發進度最新情況。 TSE煤礦（「TSE煤礦」）位於印度尼西亞南加里曼丹省哥打巴魯縣北 ...