中泰证券2026年煤炭行业投资策略：看好板块投资机会 把握三条主线

Core Viewpoint - The report from Zhongtai Securities indicates a positive outlook for the coal industry in 2026, suggesting a new cycle for coal with both short and long-term investment strategies [1] Investment Strategy - The investment strategy focuses on three main lines: - The increasing investment value of coal due to "high dividends and low valuations," encouraging active allocation towards stocks with strong dividend attributes [1] - Emphasizing companies with growth in production capacity and significant profit elasticity, highlighting those that can benefit from the resonance of alpha and beta [1] - Identifying coking coal as a potential beneficiary due to bottoming coal prices and improving profitability, particularly focusing on companies experiencing a turnaround from difficulties [1]