瑞银：升兖矿能源(01171)目标价至7港元 派息比率较去年同期高

Core Viewpoint - UBS reported that Yanzhou Coal Mining Company (01171) experienced weak performance in the first half of the year, with net profit declining by 39% year-on-year, indicating a 49% drop in net profit for the second quarter to 2.021 billion RMB [1] Financial Performance - The company declared an interim dividend of 0.18 RMB per share, with a payout ratio of 38%, slightly higher than the 31% from the same period last year [1] - UBS has adjusted its earnings forecasts for Yanzhou Coal Mining upwards by 7% and 6% for the next two years [1] Target Price and Rating - The target price for Yanzhou Coal Mining has been raised from 6.8 HKD to 7 HKD, while maintaining a "Sell" rating [1]