HK Stock Market Move | YANCOAL AUS (03668) opened more than 3% lower in the third quarter, with average coal prices falling year-on-year. Weak coal prices have made it lack catalysts in the short term.

YANCOAL AUS (03668) opened more than 3% lower. As of the time of publication, it has fallen by 3.09% to 26.32 Hong Kong dollars, with a turnover of 2.5 million Hong Kong dollars. In terms of news, recently, YANCOAL AUS released its third quarter report for the period ending September 30, 2025. Zhongtai International pointed out that due to strong coal supply, YANCOAL AUS' coal average selling price for 25Q3 fell by 17.6% year-on-year to 140 yuan/ton (Australian dollars, same below), with thermal coal and metallurgical coal falling by 17.2% and 24.7% year-on-year to 130 yuan/ton and 195 yuan/ton respectively. The company's average price decline is still synchronous with market price changes. On the other hand, sales volume decreased year-on-year due to temporary weather factors affecting logistics transportation in the first half of the year. CMB International stated that YANCOAL AUS' third quarter production fell by 9% year-on-year due to rain impacts, while sales volume increased by 3% year-on-year, as there were improvements in the situation of delayed shipments earlier. The comprehensive average selling price decreased by 18% year-on-year, roughly following market trends. The bank estimated that the company's third quarter revenue is approximately 1.48 billion Australian dollars, a 17% decrease year-on-year but a 30% increase quarter-on-quarter. The bank lowered its profit forecasts for YANCOAL AUS in the 2025 to 2027 fiscal years by 54%, 49%, and 40%, mainly due to the downward revision of average selling price forecasts for thermal coal and metallurgical coal, offset by a slight increase in sales volume forecast due to the increase in equity of the Moolarben mine. The bank believes that although the weakness in coal prices may lack catalysts for the stock in the short term, the group's solid balance sheet and ongoing dividend policy still support a "buy" rating.