中信证券指出，《意见》的多方面施策将使煤炭板块受益，传统央企煤炭龙头、基本面料将稳健增长的煤企以及破净煤企均有望受益。花旗预计，国资委将鼓励更多国企通过回购、提高派息等方式提升股东价值。中煤能源具有股息上升的潜力。花旗还预计国资委将推动更多并购活动。China Coal Energy (01898) has fallen by over 5%. As of the time of writing, it has dropped 5.01%, trading at 9.1 Hong Kong dollars, with a transaction amount of 0.146 billion Hong Kong dollars.
According to the Zhito Finance APP, China Coal Energy (01898) has fallen by over 5%. As of the time of writing, it has dropped 5.01%, trading at 9.1 Hong Kong dollars, with a transaction amount of 0.146 billion Hong Kong dollars.
In terms of news, on December 17, the State-owned Assets Supervision and Administration Commission of the State Council issued "Several Opinions on Improving and Strengthening the Value Management of Central Enterprises Holding Listed Companies" (referred to as "Opinions"), which clarified the targets and directions of central enterprises' value management, and proposed improvements and enhancements in value management from six aspects, including mergers and acquisitions and Share Buyback. The company's PB is relatively low for a leading Central Enterprise in Coal, and relevant personnel at China Coal Energy responded that the requirements outlined in the "Opinions" are clearer, which is Bullish for the company. The company will study and refer to the policy requirements to further optimize its value management work.
CITIC SEC pointed out that the multi-faceted policies of the "Opinions" will benefit the Coal Sector. Traditional leading Central Enterprises in Coal and coal companies with stable growth fundamentals, as well as those trading below net asset value, are expected to benefit. Citigroup expects the SASAC to encourage more state-owned enterprises to enhance shareholder value through buybacks and increased dividends. China Coal Energy has the potential for dividend growth. Citigroup also anticipates that the SASAC will promote more merger and acquisition activities.
