CITIC SEC Coal 2024 performance outlook: The decline is in line with expectations, time to allocate for dividend leaders at low points.
In 2024, the prices of various coal types continued to decline, with an average decrease of 14%, and anthracite coal saw the largest price drop.
In December, China's import volume of CSI Commodity Equity Index showed a mixed trend, with iron ore remaining at a high level, while the import volume of Coal and Soybean reached a record high for the year.
In December, the year-on-year increase in unrefined Copper and copper materials, integrated circuits, iron ore and its concentrates ranked first, while the decline in finished oil was the largest. The import volume of iron ore has remained above 0.1 billion tons for six consecutive months, and the import volume of Coal has remained above 45 million tons for the sixth consecutive month.
High-dividend Coal Industrial Concept(coal Industry) stocks will be the "stable happiness" in 2024. The trend of Thermal Coal next year may fluctuate in a narrow range | 2025 outlook.
① The Coal Sector is expected to perform brilliantly in 2024, humorously referred to as the "most profitable track in A-shares"; ② Industry insiders anticipate that Thermal Coal prices will fluctuate within the Range next year.
National Bureau of Statistics: In November, the output of raw coal from large-scale industries was 0.43 billion tons, an increase of 1.8% year-on-year.
On December 16, data from the National Bureau of Statistics showed that in November, the output of industrial raw coal from enterprises above designated size was 0.43 billion tons, a year-on-year increase of 1.8%; the average daily output was 14.266 million tons.
Hong Kong Stock Concept Tracking | The short-term peak season for the Coal Industry begins, Institutions are Bullish on dividend Asset allocation (with related stocks attached)
The cost-effectiveness of dividend asset allocation is once again apparent, and Institutions are bullish on the current layout window.
Express News | The strategy of Guojun Coal for the year 2025: seeking "certainty" amidst uncertainty.
Hong Kong stock concept tracking | Coal prices continue to remain high, institutions are bullish on the coal sector's interest rate arbitrage trade (including concept stocks)
With the continuous implementation of repurchase, shareholding, refinancing, and other mmf tools such as SFISF, arbitrage trade is expected to continuously deepen the value of coal dividends.
Coal: can be both offensive and defensive, act according to timing.
The sector has investment value and there are also stage-specific trade opportunities.
Huili res (01303): Ruan Guantong has been appointed as an independent non-executive director.
Huili Res (01303) announced that starting from December 1, 2024, due to Huang Mei wanting to invest more time from...
Citic sec: The long-term agreement policy in 2025 may have a positive impact on coal companies with a higher proportion of long-term agreements.
The overall change in the 2025 long-term coal contract framework is not significant, with the signing ratio requirements being adjusted downwards each year.
Market cap management boost + demand release, the value of the coal sector is highlighted.
Prepare for the peak and embrace the winter.
The coal industrial concept sector was performing well in the early market, with china coal energy rising over 4%. The disclosure of market cap management guidelines is bullish for dividend style, and the coal sector is expected to benefit.
Coal industrial concept stocks were trading higher in the morning session, as of the time of publication, SouthGobi rose by 8.55%; China Coal Energy rose by 4.02%; Yancoal Aus rose by 3.58%; Mongolia Energy rose by 3.17%.
Citic Securities: Market cap management guidelines released, coal sector expected to benefit.
The leading company in the coal industry has more stable performance and is also a component stock of major indices, therefore benefiting more significantly. In addition, some undervalued and net asset value companies are also worth paying attention to.
Express News | Fidelity Securities: The coal industry combines cyclical and dividend characteristics, with high and sustainable profits.
Express News | China Great Wall Securities: The performance of the coal sector is stable, and profitability remains robust.
Express News | Stabilizing supply and demand, the coal industry is expected to rebound from the bottom.
Express News | Citic Securities: The coal sector may enter a new round of short-term rebound.
huili res (01303.HK) appoints Xian Liwen as the company secretary.
On October 31, Gelunhui announced that Mr. Qiu Kangjun has resigned as the company's Chief Financial Officer and Company Secretary, and no longer serves as the authorized representative. Following Mr. Qiu's resignation, the board of directors also gladly announced that Mr. Xian Liwen has been appointed as the Company Secretary and authorized representative, both effective from November 1, 2024.
The overall net profit of the top three coal 'four heavenly kings' declined in the first three quarters, while the net profit of 'number one brother' Shenhua doubled quarter-on-quarter in Q3. | Interpretations
① Due to the downward impact of coal prices, the performance of coal listed companies in the first three quarters generally declined, but there was differentiation in Q3 performance; ② The industry generally believes that after bottoming out, the future trend of coal prices is expected to rebound, but the extent of the increase is limited.
Morgan Stanley fund: What is the logic behind the coal rebound?
Morgan Stanley fund published an article stating that since late September, various national ministries and commissions have intensively proposed a series of measures to expand the mmf, stabilize the stock market, and support the real estate market, greatly boosting market confidence.