China Coal Energy Co Class H ( (CCOZF) ) has released its Q3 earnings. Here is a breakdown of the information China Coal Energy Co Class H presented to its investors.
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China Coal Energy Co., a major player in the coal industry, focuses on coal production, coal chemical operations, and coal mining equipment manufacturing in China. The company’s latest quarterly earnings report reveals a decline in operational revenue by 23.8% for the reporting period, with a total profit decrease of 10.7% compared to the previous year. Key financial metrics show a net profit attributable to shareholders of RMB 4.78 billion, a slight decrease of 1.0% year-on-year. Despite these declines, the company’s total assets increased by 2.5% to RMB 366.8 billion, and owners’ equity rose by 3.6% to RMB 157.4 billion. The report highlights a decrease in coal sales revenue by 24.2% and a reduction in the cost of sales by 24.6%, resulting in a gross profit of RMB 22.52 billion for coal operations. The company also reported a significant increase in urea and methanol production and sales volumes, with urea sales rising by 19.5% and methanol by 24.0%. Looking ahead, China Coal Energy remains focused on optimizing production and cost management to navigate the challenging market conditions.