China Shenhua Energy (01088) issues profit warning, expecting the parent net profit for 2024 to be between 60.7 billion and 63.7 billion yuan, a year-on-year decrease of 6.1% to 1.4%.

China Shenhua Energy (01088) announced that it is expected to achieve a net profit attributable to owners of the company ranging from RMB 60.7 billion to RMB 63.7 billion in 2024 (compared to RMB 64.625 billion in 2023), a year-on-year decrease of 6.1% to 1.4%. In 2024, the group actively responded to unfavorable factors such as the decline in coal prices, maintained stable and high coal production, ensured smooth transportation through ports and shipping channels, achieved integrated and efficient operations, and met annual targets in coal production and sales volume, power generation, and other indicators. The main factors affecting the performance change in 2024 include: a decrease in profit in the coal segment due to factors such as the decline in average coal selling prices; and a decrease in impairment losses, other expenses, etc. compared to the previous year.