Glonghui, May 8 | UBS published a research report showing that Yankuang Energy's profit after tax in the first quarter decreased by 41.85% year-on-year to about 3.757 billion yuan. Coal prices remained high during the period, and the company's profit reached only 18.5% of the market's annual forecast. The report mentioned that the Group's average sales price for self-mining in the first quarter was 676 yuan per ton, which meant a decrease of 11.4% from quarter to quarter. The bank believes that the larger decrease in average sales price than expected was mainly due to changes in the group's product structure during the period. The bank lowered the Group's earnings estimates for each year from 2024 to 26 by 15%, 12%, and 10% to reach 16.741 billion, 15.462 billion and 12.669 billion yuan respectively, with a target price of HK$16, giving it a “neutral” rating.
大行评级｜瑞银：予兖矿能源“中性”评级 下调2024至26年各年盈测
Big Bank Rating | UBS: Yankuang Energy's “neutral” rating downgraded annual profit estimates for 2024-26
The translation is provided by third-party software.
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.