Group 1 - The coal sector in Hong Kong has seen a general increase, with China Shenhua reaching a new high price, rising by 6% [1] - According to Guotai Junan's research report, the coal sector has confirmed a cyclical bottom expected in Q2 2025, with a reversal in supply-demand dynamics and sufficient release of downside risks [1] - Coal prices have exceeded 770 RMB/ton since the upward trend began on September 15, showing an unexpected increase driven by multiple favorable factors [1] Group 2 - Guosen Securities reports that while coal prices declined and profits for coal companies were poor in early 2024, a rebound in coal prices is expected in the second half of 2025, leading to improved profits for coal companies [1] - The coal sector has underperformed compared to other sectors, but a clear bottom has been established, and a rebound in Q4 is anticipated [1]