山西证券：研究早观点-20240829

Group 1: Coal Industry - In the first seven months of 2024, coal and lignite imports reached 296 million tons, a year-on-year increase of 13% [2] - In July 2024, coal imports were 46.21 million tons, up 17.70% year-on-year and 3.61% month-on-month [2] - The average import price for coal in 2024 was $100 per ton, down 9.79% from the previous year [2] - The structure of coal imports has shown a continuation of trends from 2023, with an increase in the proportion of coking coal and a decrease in the proportion of anthracite [3] - The domestic coal supply is recovering, leading to a potential strengthening of policies to limit coal imports [3] Group 2: Proya Cosmetics - Proya achieved a revenue of 5.001 billion yuan in the first half of 2024, a year-on-year increase of 37.9% [5] - The net profit attributable to shareholders was 702 million yuan, up 40.48% year-on-year [5] - The online revenue share continued to grow, with online and offline revenues reaching 4.68 billion yuan and 314 million yuan, respectively [6] - The skincare and makeup segments saw revenue growth rates exceeding 40% year-on-year [6] - Proya's main brand continues to show strong growth, with significant sales during major promotional events [7] Group 3: Blue Sky Technology - Blue Sky Technology reported a revenue of 1.295 billion yuan in the first half of 2024, a year-on-year increase of 28.5% [8] - The net profit attributable to shareholders was 404 million yuan, up 16.79% year-on-year [8] - The company achieved overseas sales of 352 million yuan, a significant increase of 55.8% [9] - The life sciences segment generated 285 million yuan in revenue, growing 33% year-on-year, driven by strong market performance of GLP-1 peptide drugs [9] Group 4: Agricultural Industry - Wens Foodstuffs reported a revenue of 46.739 billion yuan in the first half of 2024, a year-on-year increase of 13.48% [24] - The net profit attributable to shareholders was 1.327 billion yuan, a year-on-year increase of 128.31% [24] - The company sold 14.3742 million pigs, a year-on-year increase of 21.96%, ranking second among listed companies in terms of national pig output [24] - The chicken business also achieved profitability, with stable production and a slight increase in sales prices [25] Group 5: Anta Sports - Anta Sports reported a revenue of 33.735 billion yuan in the first half of 2024, a year-on-year increase of 13.8% [26] - The net profit attributable to shareholders was 7.721 billion yuan, up 62.6% year-on-year [26] - The e-commerce channel revenue grew by 25.1%, accounting for 33.8% of total revenue [27] - The company maintained strong profitability, with a gross margin increase to 64.1% [28]