Yunnan Coal & Energy (600792.SH): Subsidiary Shizong Coal Coking Chemical Co., Ltd. has economically shut down the No. 2 coke oven
Yunmei Energy (600792.SH) announced that its wholly-owned subsidiary, Shizong Coal Coking Co., Ltd. (referred to as Shizong Coking), has been continuously incurring losses due to the coal-coke inversion. The company has decided to economically shut down the No. 2 coke oven in order to reduce operational losses.
Yunnan Coal & Energy Co., Ltd. (600792.SH) announced that its wholly-owned subsidiary Shizong Coal Coking Chemical Co., Ltd. (referred to as Shizong Coking) has been continuously losing money due to the coal coking market downturn. Therefore, the company has decided to economically shut down the No. 2 coking furnace to reduce operating losses.
This shutdown is in line with industry cycle adjustments and will help reduce losses for Shizong Coking. In addition to the shutdown of the No. 2 coking furnace, the No. 1 coking furnace of Shizong Coking will operate at low load, while the company and its other subsidiaries' business operations are proceeding as usual. This shutdown will not affect the overall operation of the company.
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