Sino-Singapore Jingwei, October 18th. In the morning of the 18th, Inner Mongolia Huadian responded to investors' questions about performance changes on the interactive platform.
After the market close on the 17th, Inner Mongolia Huadian disclosed a performance report showing that the total operating income in the first three quarters was 17.237 billion yuan, and increased by 30.27% year-on-year; the net profit attributable to shareholders of listed companies was 1.558 billion yuan, an increase of 537.22% year-on-year; Earnings per share 0.225 yuan.
According to the latest performance report, Inner Mongolia Huadian achieved a net profit of 422 million yuan in the third quarter. In the second quarter, the company's net profit attributable to its parent was 670 million yuan. In comparison, it fell by 37%.
on the Shanghai Stock Exchange e-interactive platform, some investors asked, what is the reason for the sharp drop in the third quarter performance?
In response to this, Inner Mongolia Huadian replied that the main reason for the decrease in performance in the third quarter compared to the second quarter was that the power generation of in the third quarter grew faster than the second quarter, the coal consumption for power generation increased significantly, and the long-term cooperation with lower prices. There is a gap between the coal supply and the company's consumption, company purchases higher-priced market coal, resulting in an increase in fuel costs .
Source: SSE e-interaction
According to Guosheng Securities, coal prices fell first and then rose in the third quarter, with the overall high and volatile. In terms of thermal coal , due to the lower-than-expected high temperature in June-July and the poor procurement rhythm of chemical building materials, coal prices stagnated; in August, the high temperature exceeded expectations & the hydropower output was lower than expected, superimposed on the increase in the operating rate of downstream metallurgy and chemical industry, and the procurement demand was rapid As a result, coal prices rose rapidly. The average spot price of port Q5500 was 1,228 yuan/ton, an increase of 8.1% year-on-year, and a quarter-on-quarter decrease of 1.6%.
Looking forward to the fourth quarter, Guosheng Securities believes that the overseas coal market is constantly turbulent, domestic and foreign coal prices may be upside down, and imports are hardly optimistic, and under extreme weather disturbances, thermal coal purchases are expected to remain high, and chemical and cement operating rates continue to increase, demand. With full resilience, coal prices are likely to remain strong under tight supply and demand. (Sino-Singapore Jingwei APP)
(The opinions in this article are for reference only and do not constitute investment advice. Investment is risky, and you need to be cautious when entering the market.)
