According to the intelligence app of finance, Power Development (01277) rose more than 11% in trading. As of the writing of this report, it has risen 7.22% to HKD 1.04, with a turnover of HKD 11,386,600.

According to reports, Power Development announced that the unaudited net profit of the group for the first half of 2024 is expected to increase by no less than 80% from the same period last year, mainly due to the fact that the group is no longer affected by the temporary changes in the underground mining environment that occurred in the first half of 2023, and the group's mining efficiency has been improved, resulting in a substantial increase in coal production in the first half of 2024 compared to the first half of 2023.

Minsheng Securities previously stated that short-term coal prices are expected to continue to fluctuate, and with the opening of the subsequent peak season demand, the timing of accelerated price increases may be imminent. In terms of sector allocation, with the upward trend of coal prices, the recovery of production in Shanxi Province is expected to benefit local coal enterprises, resulting in a rise in both volume and price.