Group 1 - The core viewpoint of the article highlights a significant increase in coal stocks, driven by rising coking coal prices following a price adjustment by major steel mills in East and North China [1] - China Shenhua (01088) saw a rise of 3.44% to HKD 36.7, Yanzhou Coal (01171) increased by 3.13% to HKD 9.56, Mongolian Energy (00276) rose by 2.99% to HKD 0.69, and China Coal Energy (01898) gained 2.09% to HKD 10.24 [1] - The fifth round of coking coal price increases has been fully implemented, with cumulative price rises of 250-275 CNY/ton [1] Group 2 - Coking coal futures prices surged, with the main contract reaching a near 7% increase after a significant rise on Monday [1] - Guotai Junan noted that the National Energy Administration's stance on "anti-involution" in the coal industry, combined with a price pressure of 650 CNY/ton, is likely to lead to a stable yet declining total supply [1] - GF Securities reported that since early July, coal prices have risen by 450 CNY/ton or 37%, returning to the highest levels since the beginning of the year [1] Group 3 - Despite entering a demand off-season, steel mills maintain high operating rates and iron output, while market speculation has improved due to expectations of anti-involution [1] - The company anticipates that while the coal price center may decline in 2025, profits in the second quarter may have reached a bottom, with a steady recovery expected in the second half and medium to long term [1] - The sector's valuation and dividend yield are considered advantageous [1]