China Shenhua Energy (01088) saw a 4% year-on-year decrease in net profit in the first nine months, reaching 84% of both market and the bank's full-year forecasts.
According to the Wisdom Finance app, Citigroup released a research report stating that China Shenhua Energy (01088) experienced a 4% year-on-year decline in net profit in the first nine months, reaching 84% of both market and the bank's full-year forecasts. During the period, gross profit amounted to 78 billion RMB, a 3% year-on-year decrease. The data for the first three quarters indicates that Shenhua's net income in the third quarter reached 17.8 billion RMB, a 14% year-on-year increase, 19% increase quarter-on-quarter, surpassing market expectations. The bank maintains a 'buy' rating for the group's H shares, with a target price of 41.4 Hong Kong dollars.
