Zhi Tong Cai Jing·2025-12-18 07:30Core Viewpoint - The coal stocks have seen an increase in their closing prices, driven by rising demand for high-quality coal and regulatory changes aimed at improving coal efficiency and reducing consumption [1] Group 1: Stock Performance - Yanzhou Coal Mining Company (兖矿能源) increased by 2.23%, reaching HKD 10.09 [1] - China Shenhua Energy (中国神华) rose by 1.98%, reaching HKD 39.22 [1] - China Coal Energy (中煤能源) gained 1.56%, reaching HKD 10.4 [1] - Yida Zong (易大宗) increased by 1.1%, reaching HKD 0.92 [1] Group 2: Market Drivers - On December 18, coking coal and coke futures contracts rose over 6% [1] - The National Development and Reform Commission, along with five other departments, issued the "Benchmark Levels for Key Areas of Clean and Efficient Utilization of Coal (2025 Edition)" on December 17 [1] - Compared to the 2022 version, the new benchmarks indicate tighter coal consumption standards for coal-fired power generation, leading to increased demand for high-quality coal [1] Group 3: Industry Outlook - Shanxi Securities released a report highlighting the recovery of profitability in the coal sector, supported by seasonal demand due to cold weather [1] - There are expectations for improved performance in Q4, with potential for significant recovery in 2026 if prices remain high [1] - The decline in stock prices has enhanced dividend value, suggesting opportunities for low-cost acquisitions [1]