According to the WiseNews App, Mongol Mining (00975) rose nearly 4% in early trading and as of press time, rose 3.47% to HKD 9.55, with a turnover of HKD 11.8532 million.

According to company announcements, by the end of June of this year, Mongol Mining had mined a total of 4.7919 million tons of ore, up 16% and 34% respectively YoY and QoQ. The group processed 4.0601 million tons of raw coal to produce 2.2238 million tons of washed coking coal products, up 37% and 3% respectively YoY and QoQ.

Shanxi Securities previously stated that due to the normalization of safety supervision and the still-available space for stabilizing the economy policy, there is still expectation for marginal improvement in policies affecting the economy, such as real estate and infrastructure, and strong rigid demand for coal. We believe that the supply-demand balance of coal is unlikely to further loosen in 2024, and prices are expected to remain high.