In the first half of the year, more than 30% of li

In the first half of the year, the integration of loss making industries of more than 30% of listed coal enterprises will speed up

in the first half of the year, the integration of loss making industries of more than 30% of listed coal enterprises will speed up

China Construction machinery information

China Shenhua and China coal energy released the performance report for the first half of 2015. China Shenhua's net profit fell sharply, while China coal energy became the "loss king" in the first half of 2015

affected by the overall downturn of the coal industry, the performance of domestic coal enterprises fell again in the first half of the year

recently, China Shenhua and China coal energy, two major central coal enterprises, released the performance report for the first half of 2015. China Shenhua's net profit fell sharply, while China coal energy became the "loss king" in the first half of 2015

however, the 2015 semi annual coal chemical industry report released by the two central enterprises at the same time shows that the coal chemical industry projects under the two central enterprises still show strong competitiveness in the low oil price environment in the first half of 2015, with an operating rate of more than 100%. Industrial transformation seems to have become a new hope for coal enterprises to endure the cold winter

the performance of coal enterprises continued to decline

under the pressure of economic downturn and environmental protection, the overall situation of the coal industry is not optimistic

according to the statistics of flush data, up to now, more than 30% of the 37 listed coal enterprises that issued the 2015 semi annual report and annual report forecast have lost money, which is larger than that of the same period last year

China Shenhua, a leading coal enterprise, announced on August 21 that the net profit attributable to the company's shareholders in the first half of the year was 11.727 billion yuan, a year-on-year decrease of 45.6%; The operating revenue is 87.783 billion yuan if there is a long period of time without machines after the experiment, a year-on-year decrease of 32.1%. Wangjinli, senior vice president of Shenhua, pointed out that since this year, the domestic coal market is still oversupplied, and it is expected that the coal price will fluctuate at a low level in the second half of the year, but there will be a slight rebound in the seasonal peak season in the fourth quarter

analysts at CSC securities believe that the main reason for the decline in China Shenhua's performance is the overall downturn in the coal market, insufficient market demand, excess supply, and continuous decline in spot prices. The company's coal sales in the first half of the year totaled 178 million tons, a year-on-year decrease of 5.68 billion tons, and the weighted average price was 316 yuan/ton, a year-on-year decrease of 52.4 yuan/ton

BOC securities analysts also pointed out that from June 30 to August 24, the current price of thermal coal with a calorific value of 5500 kcal/kg in Qinhuangdao has fallen by 12 yuan/ton, a decrease of 3%. It is expected that the coal price will fluctuate at the current price level. After entering the winter, it is expected to rise slightly driven by seasonal demand. On this basis, it is expected that the average price of coal in the second half of the year may be lower than that in the second quarter. Therefore, it is expected that Shenhua's net profit will decline by 27% month on month in the second half of the year

the performance of China coal energy, another central coal enterprise, was even worse. According to the financial report disclosed by China coal energy, in the first half of 2015, the company achieved an operating revenue of 29.747 billion yuan, a year-on-year decrease of 16.1%; Net profit -965 million yuan, from profit to loss year-on-year; Basic earnings per share -0.07 yuan. It is worth noting that we should have the courage to start a business and work. This is the first time that Chinacoal has suffered a loss in its semi annual report since 2012. The net profit of the company in the same period last year was 686 million yuan

in this regard, China Coal Energy said that since this year, in the face of the severe situation of the continuous downturn in the coal market and the sharp decline in prices, the company has scientifically organized production, strengthened market sales, accelerated industrial transformation, actively reduced costs and dug up potential, and it is not allowed to dismantle or hit the potential casually, effectively resisting the impact of the market downturn

in addition to China coal energy, loss making listed coal enterprises also include state investment Xinji, Kailuan shares, Pingzhuang energy, Dayou energy and other companies

industrial transformation, reorganization and merger

it is worth noting that although the performance of Shenhua and China coal has declined significantly, the coal chemical business of the two companies has achieved profits

Shenhua semi annual report data shows that the output of polyethylene and polypropylene in the first half of Shenhua Baotou 600000 T/a coal to olefin project was 161200 T and 160000 t respectively, a total of 321200 T, with an operating rate of 107%. The operating income was 2.969 billion yuan and the operating income was 561 million yuan

according to the semi annual report data of China coal, the PE and PP output of the 600000 ton/year project in Yulin of China coal in the first half of 2015 were 178000 tons and 168000 tons respectively, a total of 346000 tons, and the operating rate was as high as 115%. The operating income was 2.874 billion yuan, and the net profit attributable to the shareholders of the company was 529 million yuan

China coal energy also said that accelerating structural adjustment and promoting transformation and upgrading is the company's long-term plan to fundamentally deal with the difficulties of the industry, and its industrial structure adjustment to new coal chemical projects has achieved remarkable results

industry analysts pointed out that under the market environment of excess coal production capacity and low prices, coal to olefin shows great strategic value for coal chemical enterprises, which can develop diversified sources of income, a large amount of operating cash flow and certain profits for enterprises

Shenhua also adjusted its industrial structure in the first half of the year. Based on the operating income of each business segment before the merger and offset, the proportion of Shenhua coal, power generation, transportation and coal chemical industry sectors was optimized from 43%, 29%, 25% and 3% in the first half of 2014 to 28%, 44%, 26% and 2% in the first half of 2015

analysts from CSC believe that the transformation process of the company's business structure has accelerated, and its profitability has been guaranteed to a certain extent. The gross profit margin in the first half of the year was 39.36%, an increase of 4.4 percentage points year-on-year. The power sector generated 100.42 billion kwh, a year-on-year decrease of 5.7%, and the total sales of 93.62 billion kwh, a year-on-year decrease of 5.8%. Among them, the power generation segment consumes 38.5 million tons of Shenhua coal, accounting for 89.5% of the total coal consumption of the power generation segment. The relatively stable profit level of power generation business partially hedged the impact of oversupply in the coal market

in addition to industrial restructuring, the coal industry has also launched a new round of restructuring and mergers

Ling Wen, vice chairman of Shenhua, pointed out that since the production cost, sales volume and price of coal will not change significantly in the second half of the year, Shenhua Group's profit in the second half of the year is expected to be in the normal range and will not fluctuate too much. The group will continue to pay attention to overseas mergers and acquisitions opportunities, but there is no information to disclose at present

Ling Wen also said that China Shenhua's share price hit a 52 week low. Shenhua will do its best to do a good job in production and operation when the stock market fluctuates. At the same time, it will prudently use the tools of the capital market. At present, the company has been authorized to repurchase shares, and there is also a channel to increase its holdings

its thermal deformation temperature is as high as 175 degrees