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Bank of America Securities: China Shenhua Energy's first-quarter net income disappoints expectations, lowering the target price to 32 Hong Kong dollars.
Bank of America Securities released a Research Report stating that China Shenhua Energy (01088) saw its net income fall by 19% to 13.4 billion yuan in the first quarter, missing expectations. The primary reason the quarterly earnings did not meet expectations was due to a more-than-expected drop in the average selling price of Coal. The bank has lowered Shenhua's net income forecast for this year to 2027 by 7% to 12%, reducing the Target Price from 33 Hong Kong dollars to 32 Hong Kong dollars, while maintaining a "Neutral" rating, citing the pressure on earnings from declining Coal prices. However, the company is in a net cash position, and management is committed to returning value to Shareholders. China Shenhua's quarterly revenue fell by 21% year-on-year to 69.6 billion yuan; gross profit decreased by 22% year-on-year to 21 billion yuan.
Brokerage morning meeting highlights: Bullish on investment opportunities in the Commercial Property Sector in 2025.
At today's brokerage morning meeting, Guotai HAITONG SEC proposed to prioritize allocation to leading brokerages with significant comprehensive advantages and stronger cross-border asset allocation capabilities; GF SEC believes that the coal price median may decline in 2025, and leading companies are expected to maintain overall stable profitability; HTSC expressed a Bullish outlook on investment opportunities in the Commercial Property Sector for 2025.
Citibank: China Shenhua Energy's net income in the first quarter was below expectations, maintaining a "Buy" rating.
Citigroup released a Research Report indicating that China Shenhua Energy (01088) had a Net income of 13.4 billion yuan in the first quarter, a year-on-year decline of 25%, but an increase of 13% compared to the previous quarter. This is equivalent to 24% of the bank's and market's forecast for the annual Net income, which is below expectations, mainly due to unit gross margins and self-produced coal sales being lower than anticipated. The bank maintains a Target Price of HKD 32.7 for China Shenhua Listed in Hong Kong and retains a "Buy" rating. Excluding one-time expenses, the company's quarterly core Net income is estimated to be 12.8 billion yuan, a year-on-year and quarterly decline of 30% and 10% respectively. The quarterly gross margin is 21.3 billion yuan, a year-on-year and quarterly drop of 22% and 12% respectively.
Citigroup: China Shenhua Energy (01088) first quarter Net income is below expectations, maintaining a "Buy" rating.
Excluding one-time expenses, the company's quarterly core Net income is estimated to be 12.8 billion RMB, down 30% year-on-year and 10% quarter-on-quarter.
China Shenhua Energy: Lower Revenue From Electricity Sales Also Hurt Results >1088.HK
China Shenhua Energy 1Q Rev CNY69.59B Vs. CNY87.65B >1088.HK
