Bank of China International reported that according to the International Financial Reporting Standards, Shenhua (01088.HK) third-quarter net profit increased by 19% to 17.8 billion Chinese yuan. Although domestic thermal coal spot prices remained relatively stable during the period, the company achieved growth through increased coal sales volume, decreased unit costs, and strong growth in power generation.

Bank of China International forecasts that due to rising costs and an increase in long-term contracted sales proportion, its fourth-quarter profit will decrease by 52% on a quarter-on-quarter basis. After performance adjustments, profit forecasts for 2024 to 2026 are raised by 2%. Reaffirming a "buy" rating, with the target price raised to 40.68 Hong Kong dollars.