YANKUANG ENERGY GROUP(600188)：PROFIT UNDER PRESSURE AND FELL IN 1H25;UPBEAT ON RECOVERY IN 2H25

机构：中金公司 研究员：Yan CHEN Preannounced earnings down 38% YoY for A-shares Yankuang Energy Group preannounced its 1H25 results, estimating that its net profit attributable to shareholders fell about 38% YoY to Rmb4.65bn and recurring attributable net profit declined 39% YoY to Rmb4.4bn under Chinese accounting standards. The decline in earnings was slightly sharper than we expected, which we attribute to falling coal prices and sales volume amid weak demand. Trends to watch Easing supply and demand conditions wei ...