HK Stock Market Move | Coal stocks continue to rise, and the price center of coal is expected to further increase in the second half of the year, likely driving the performance of coal enterprises.

Coal stocks continued to rise. As of the time of writing, KINETIC DEV (01277) rose by 3.93% to HKD 2.115; China Shenhua Energy (01088) increased by 2.67% to HKD 46.84; Yankuang Energy Group (01171) climbed 2.61% to HKD 13.77; and China Coal Energy (01898) rose by 1.49% to HKD 11.58. On the news front, recent coal prices have surged. Data shows that on September 4, the market price for 5500 Kcal thermal coal at Qinhuangdao Port was RMB 962/ton, an increase of RMB 81/ton from the previous week and RMB 282/ton higher year-on-year, reaching a new high since October 2023; on the same day, the market price for main coking coal produced in Shanxi was RMB 2395/ton, up RMB 179/ton from the previous week and RMB 1139/ton higher year-on-year, marking a new peak since June 2022. Guotai Junan Haitong pointed out that the most important factor affecting industry performance remains price. In the first half of 2026, the average sales revenue per ton of self-produced coal for 17 listed A-share companies was RMB 594/ton, an increase of 11.4% year-on-year, with the average cost per ton of coal at RMB 369/ton, a year-on-year increase of 2.6%. Price increases are the core factor driving industry performance. Looking ahead to the second half of the year, we expect the coal price center to rise further, boosting the performance of coal enterprises.