Core Insights - In December 2025, China's raw coal production was 43,703.5 million tons, a year-on-year decrease of 1.0% [1] - The cumulative production from January to December 2025 reached 483,178.2 million tons, reflecting a year-on-year increase of 1.2% [1] Provincial Production Summary - In 2025, the top three provinces for cumulative raw coal production were Shanxi (130,454.5 million tons, +2.1%), Inner Mongolia (128,639.8 million tons, -1.0%), and Shaanxi (80,461.7 million tons, +2.9%) [3] - Inner Mongolia led in December production with 12,094.8 million tons, showing no change year-on-year [2] - The provinces with notable year-on-year decreases included Xinjiang (-8.0%), Ningxia (-2.9%), and Anhui (-6.4%) [2]

Core Viewpoint - The report highlights the trends and future development of China's coal industry, indicating a slight decline in coal production in November 2025 compared to the previous year, while overall production for the year shows a modest increase [1]. Group 1: Industry Overview - In November 2025, China's raw coal production was 430 million tons, representing a year-on-year decrease of 0.5% [1]. - From January to November 2025, the cumulative raw coal production in China reached 4.4 billion tons, with a cumulative growth of 1.4% [1]. - The data is sourced from the National Bureau of Statistics and compiled by Zhiyan Consulting, a leading industry consulting firm in China [1]. Group 2: Companies Involved - Listed companies in the coal sector include China Shenhua (601088), Zhongmei Energy (601898), Shanxi Coking Coal (000983), Lu'an Environmental Energy (601699), Huabei Mining (600985), Pingmei Shenma (601666), Shanxi Coal International (600546), Jizhong Energy (000937), Shaanxi Coal and Chemical Industry (601225), and Huayang Co. (600348) [1].

Group 1: Industry Investment Rating - No information provided Group 2: Core Viewpoints - In November, the production of raw coal remained stable. The output of raw coal in industrial enterprises above the designated size was 430 million tons, a year - on - year decrease of 0.5%, and the daily output was 1.423 million tons. From January to November, the output of raw coal in industrial enterprises above the designated size was 4.4 billion tons, a year - on - year increase of 1.4% [2] Group 3: Summary by Relevant Content - The report presents the monthly cumulative output (in billions of tons) and monthly output (in billions of tons) of Chinese raw coal from 2020 - 2025, sourced from the National Bureau of Statistics and organized by the Green大华 Futures Research Institute [2]

1. Report's Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - In October, the raw coal production of industrial enterprises above designated size reached 110 million tons, a year - on - year decrease of 2.3%, with a daily average output of 1.312 million tons. From January to October, the raw coal production of industrial enterprises above designated size was 3.97 billion tons, a year - on - year increase of 1.5%. Since the anti - involution policy was announced in July, the year - on - year raw coal production has been declining. With the official launch of the 2025 central safety production assessment and inspection in November, it is expected that the year - on - year raw coal production from November to December may continue to decline, and it remains to be seen whether the annual production target of 4.8 billion tons set by the National Energy Administration at the beginning of the year can be achieved [3] 3. Summary by Relevant Catalog Coal Production Data - The monthly cumulative production and monthly production of raw coal in China from 2020 - 2025 are presented in graphical form. In 2025, the raw coal production in October and the cumulative production from January to October are also involved. Specifically, in October 2025, the raw coal production of industrial enterprises above designated size was 110 million tons, and from January to October, the cumulative production was 3.97 billion tons [2][3]

Group 1 - The report is titled "Coal and Coke Data Flash - September 2025 Raw Coal Production Data" [1] Group 2 - The data includes the monthly cumulative production (in billion tons) and monthly production (in billion tons) of raw coal in China from 2020 - 2025 [2] Group 3 - In September, the decline in raw coal production narrowed. The output of raw coal from industrial enterprises above the designated size was 410 million tons, a year - on - year decrease of 1.8%, and the decline was 1.4 percentage points narrower than that in August. The daily average output was 1.372 million tons. From January to September, the output of raw coal from industrial enterprises above the designated size was 3.57 billion tons, a year - on - year increase of 2.0% [3]

Group 1 - The core viewpoint of the article indicates that the decline in raw coal production has narrowed, with September's output showing a year-on-year decrease of 1.8%, which is an improvement of 1.4 percentage points compared to August [1] - In September, the industrial raw coal production reached 410 million tons, with an average daily output of 13.72 million tons [1] - From January to September, the total industrial raw coal production was 3.57 billion tons, reflecting a year-on-year growth of 2.0% [1]

Core Viewpoint - The report highlights the trends and future development of China's coal industry, indicating a slight decline in coal production in August 2025 compared to the previous year, while showing an overall increase in cumulative production for the year [1] Group 1: Industry Overview - In August 2025, China's raw coal production was 390 million tons, representing a year-on-year decrease of 3.2% [1] - From January to August 2025, the cumulative coal production in China reached 3.17 billion tons, with a cumulative growth of 2.8% [1] Group 2: Companies Mentioned - Listed companies in the coal sector include China Shenhua (601088), Zhongmei Energy (601898), Shanxi Coking Coal (000983), Lu'an Environmental Energy (601699), Huaibei Mining (600985), Pingmei Shenma (601666), Shanxi Coal International (600546), Jizhong Energy (000937), Shaanxi Coal and Chemical Industry (601225), and Huayang Co. (600348) [1] Group 3: Research and Consulting - The report is based on data from the National Bureau of Statistics and is compiled by Zhiyan Consulting, a leading industry consulting firm in China, which specializes in providing in-depth industry research reports and tailored consulting services [1]

Group 1 - The core viewpoint of the article highlights the growth in China's coal production, with a reported output of 400 million tons in May 2025, reflecting a year-on-year increase of 4.2% [1] - From January to May 2025, China's cumulative coal production reached 1.99 billion tons, marking a cumulative growth of 6% [1] Group 2 - The article lists key listed companies in the coal industry, including China Shenhua (601088), Zhongmei Energy (601898), Shanxi Coking Coal (000983), and others [1] - The data is sourced from the National Bureau of Statistics and compiled by Zhiyan Consulting, which specializes in industry research and consulting services [1]

Group 1 - The core viewpoint of the article highlights the trends in China's coal mining industry, particularly focusing on production statistics and future projections [1] - According to the National Bureau of Statistics, China's raw coal production in July 2025 was 380 million tons, representing a year-on-year decrease of 3.8% [1] - From January to July 2025, the cumulative raw coal production in China reached 2.78 billion tons, showing a cumulative growth of 3.8% [1] Group 2 - The article mentions key listed companies in the coal sector, including China Shenhua (601088), Zhongmei Energy (601898), Shanxi Coking Coal (000983), and others [1] - It references a report by Zhiyan Consulting titled "Analysis of Supply and Demand Trends in China's Coal Mining Industry from 2025 to 2031" [1] - Zhiyan Consulting is described as a leading industry consulting firm in China, providing comprehensive industry research reports and customized services [1]

Report Summary 1. Current Situation of Coal Production - In July 2025, the raw coal output of industrial enterprises above the designated size was 380 million tons, a year - on - year decrease of 3.8%, with a daily average output of 1.229 million tons. From January to July, the raw coal output was 2.78 billion tons, a year - on - year increase of 3.8% [1]. - The July output was 40 million tons lower than the previous month but was the second - highest in the same period in history. The cumulative output from January to July was 2.78 billion tons, the highest in history, 130 million tons higher than the same period in 2024 [2]. 2. Completion of Annual Output Target - To achieve the annual expected output of 4.8 billion tons set by the Energy Bureau, the average monthly output from August to December needs to reach 404 million tons. Compared with the average monthly output of 397 million tons from January to July 2025, theoretically, only a monthly increase of one million tons in the national total raw coal output is required [2]. 3. Reasons for Output Decline in July - The decline in July was a seasonal one, and heavy rains in the self - production areas and the "Three Western Regions" exacerbated the decline. Historically, from 2019 - 2024, the average monthly raw coal output in the second half of the year often exceeded that in the first half [2]. 4. Regional Over - production and Price Concerns - The regional over - production situation from January - June/July 2025 may be weaker than the same period. The continuous rise in coal prices may trigger concerns of relevant departments about price regulation [2].