Zhi Tong Cai Jing·2025-10-30 03:26Core Viewpoint - China Shenhua (601088) shares rose over 5% during trading, currently up 3.56% at HKD 42.26, with a trading volume of HKD 556 million [1] Financial Performance - For the nine months ending September 30, 2025, China Shenhua reported revenue of RMB 213.15 billion, a decrease of 16.6% year-on-year [1] - The profit attributable to shareholders was RMB 41.37 billion, down 13.8% year-on-year [1] - Basic earnings per share stood at RMB 2.082 [1] Production and Sales - In Q3 2025, China Shenhua achieved a commodity coal production of 8.6 million tons, an increase of 2.3% year-on-year and 3.1% quarter-on-quarter [1] - Coal sales totaled 11.2 million tons, a decline of 3.5% year-on-year but an increase of 5.7% quarter-on-quarter [1] - Self-produced coal sales were 8.7 million tons, up 2.7% year-on-year and 4.1% quarter-on-quarter, while traded coal sales were 2.5 million tons, down 20.3% year-on-year but up 11.7% quarter-on-quarter [1] Cost and Profitability - The unit production cost for self-produced coal in the first three quarters of 2025 was RMB 173.2 per ton, a decrease of 7.5% year-on-year [1] - The overall coal gross margin was 30.4% [1] - In Q3, the production cost for self-produced coal was RMB 278 per ton, with year-on-year and quarter-on-quarter changes of -2.2% and -0.7% respectively, and a gross margin of 38.8%, reflecting a decline of 6.7 and 1.8 percentage points [1]