Huatai Securities: Expectations for the "anti-internal competition" policy may catalyze the valuation repair of the coal sector.

Huatai Securities research report indicates that the peak season for coal has arrived, and the recovery in demand is catalyzing the repair of coal prices; under loose supply and demand conditions, the production side may opt for quantity to compensate for price, the expectation of policies to counter "internal consumption" will boost market sentiment, and is likely to catalyze the valuation repair of the coal sector. It reiterates the dividend logic of the coal sector, recommends focusing on leading coal companies with stable profitability and high dividend ratios, as well as companies in Shanxi region where overproduction has significantly decreased since last year.