陕西煤业: 2025年半年度报告全文

Core Viewpoint - The report highlights a significant decline in the company's financial performance for the first half of 2025, with a net profit of 7.638 billion yuan, a decrease of 31.18% year-on-year, attributed to lower coal prices and reduced sales volumes in the coal and electricity sectors [10][11]. Financial Performance - The company achieved a total revenue of 77.982 billion yuan, down 14.19% from the previous year, with coal business revenue accounting for 68.378 billion yuan, a decrease of 11.67% [10][11]. - The total profit amounted to 15.467 billion yuan, reflecting a 29.62% decline compared to the previous year [10][11]. - Basic earnings per share were 0.79 yuan, down 31% year-on-year [10][11]. Production and Sales - Coal production reached 87.3964 million tons, a year-on-year increase of 1.15%, while coal sales were 125.9892 million tons, up 0.92% [7][8]. - The average selling price of coal was 439.67 yuan per ton, a decrease of 23.81% compared to the previous year [9][10]. Operational Highlights - The company maintained a strong focus on safety and efficiency, achieving record production and sales figures despite market challenges [5][6]. - The total electricity generation was 17.769 billion kilowatt-hours, a decrease of 11.82% year-on-year, with total electricity sales at 16.619 billion kilowatt-hours, down 11.38% [7][8]. Industry Context - The coal market is experiencing a downturn due to increased supply and reduced demand from key sectors such as real estate and steel, leading to a more balanced but challenging market environment [3][4]. - National coal consumption for the first half of the year was 2.24 billion tons, reflecting a year-on-year growth of 3.2%, indicating some recovery potential in the second half of the year [3][4].