Yanzhou Coal Mining's net profits likely to go up by over 4 times in H1 2017
2017-07-28 16:57:44 [Print]
According to the report from Yanzhou Coal Mining Company Limited on the evening of June 26th, 2017, its net profits attributable to shareholders of listed companies in the first half of 2017 are expected to go up by about 440% compared with the figure in the first half of 2016 when its net profits were RMB592 million.
The company noted that main reasons for the improvement of its financial performance in the first half of 2017 were as follow: firstly, mainly affected by national policies on supply-front reform and capacity removal in coal industry, prices for commercial coal increased substantially in the first half of 2017 compared with those in the same period of last year; meanwhile, its sales for coal produced by itself went up obviously during this period as newly built mines successively went into commercial production.
The company noted that main reasons for the improvement of its financial performance in the first half of 2017 were as follow: firstly, mainly affected by national policies on supply-front reform and capacity removal in coal industry, prices for commercial coal increased substantially in the first half of 2017 compared with those in the same period of last year; meanwhile, its sales for coal produced by itself went up obviously during this period as newly built mines successively went into commercial production.
