Guotai Junan: The coal industry has reached a turning point in its fundamentals, and profits are expected to rebound.

Guotai Haitong Securities released a research report stating that 2025 Q2 has clearly become the price bottom of this round of coal price decline cycle, and it is judged that with a significant rebound in prices in July, industry profits are expected to rebound. The bank believes that 2025 Q2 is the turning point for fundamentals, with the downward risk of the coal industry fully released. In the context of controllable downward risk in the medium to long term and a clear background, it is worth allocating more long-term funds.