煤焦数据解读：2025年1-7月前十大煤炭国企原煤产量

Report Overview - The report analyzes the raw coal production data of the top ten state-owned coal enterprises from January to July 2025, including monthly and cumulative production, year-on-year and month-on-month changes, and provides relevant comments [1]. Key Data Monthly Production in July 2025 - The top ten coal enterprises' total raw coal production in July 2025 was 20,089 thousand tons, a year-on-year decrease of 0.87% and a month-on-month increase of 1.99% [1]. - Among them, National Energy Group had the highest production of 5,277 thousand tons, with a year-on-year increase of 2.99% and a month-on-month increase of 2.23% [1]. - Jinmei Holding Group had a production of 3,452 thousand tons, a year-on-year decrease of 11.05% but a month-on-month increase of 1.26% [1]. Cumulative Production from January to July 2025 - The top ten coal enterprises' cumulative raw coal production from January to July 2025 was 1.388 billion tons, a year-on-year increase of 8.83 million tons, accounting for 49.6% of the raw coal production of enterprises above the designated size [1]. Core Viewpoints - From the cumulative raw coal production data of the top ten coal enterprises, the cumulative production from January to July showed a slight increase of 2.87%, but the single-month production in July showed a slight decline [1]. - The main reason is that the production of three major state-owned enterprises in Shanxi continued to catch up in the second half of 2024, resulting in significant changes in the year-on-year data in 2025 and a slowdown in the growth rate in the second half of 2025 [1]. - For example, the raw coal production growth rate of Jinmei Holding Group from January to July slowed down from the previous value of 10.9% to 7.1%, and that of Shanxi Coking Coal Group slowed down from 18.4% to 12.6% [1].