The Zhitong Finance App learned that CICC released a research report saying that it maintained the “outperform the industry” rating of Yankuang Energy (01711) and lowered the earnings test of H shares by 13% to 6.37 yuan per share last year, and fell 11% to 5.77 yuan this year. It is expected that next year's profit per share will be 5.58 yuan, and the target price will be lowered 9% to HK$30. Previously, the company was happy. According to Chinese accounting standards, net profit last year is expected to increase 89% year on year to about 30.8 billion yuan, net profit after deducting non-recurring profit and loss is about 30.6 billion yuan, an increase of 89% over the previous year. I believe this is due to the increase in the company's coal prices year on year.

The bank believes that based on the company's earnings estimates for last year, it is estimated that the company's net profit for the fourth quarter reached 3.67 billion yuan, down 22% year on year, 60% month on month, and net profit after deducting non-recurring profit and loss reached 3.76 billion yuan, down 16% year on year, 58% month-on-month, lower than market expectations, and blamed on the company's decline in coal production and sales, the month-on-month decline in overseas coal prices, and the company's asset impairment provisions and expenses.