SHANGHAI ENERGY(SH:600508)2024-07-09 09:26Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company for the first half of 2024 to be between 460 million and 530 million yuan, representing a decrease of 650 million to 720 million yuan compared to the same period last year, a year-on-year decline of 55.08% to 61.02%[9]. - The expected net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is projected to be between 457 million and 527 million yuan, with a year-on-year decrease of 648 million to 718 million yuan, reflecting a decline of 55.15% to 61.11%[21]. - The total profit for the reporting period is 1.667 billion yuan, with a net profit attributable to shareholders of the parent company of 1.179 billion yuan[17]. - Earnings per share are projected to be 1.63 yuan[22]. Market Conditions and Impact - The average selling price of premium coal decreased by 338.09 yuan per ton, a decline of 24.38% year-on-year, significantly impacting the company's performance[6]. - The company’s subsidiary, China Coal Energy Xinjiang Tianshan Coal Power Co., Ltd., experienced a substantial decline in commodity coal sales, further affecting overall performance[6]. Company Strategy and Outlook - The company aims to stabilize production capacity, increase sales, and enhance efficiency through internal reforms and key project advancements to achieve its annual targets despite adverse conditions[18]. - The company emphasizes that the performance forecast has not been audited by certified public accountants[11]. - The company has identified no significant uncertainties that could impact the accuracy of this performance forecast[13]. - The company warns investors to be aware of investment risks as the forecast data is preliminary and subject to change in the official semi-annual report[19].