Coal stocks generally rose in early trading. As of press release, China Coal Energy (01898) rose 3.39% to HK$8.24; Mongolian coking coal (00975) rose 2.54% to HK$9.27; China Shenhua (01088) rose 1.55% to HK$32.8; and Yankuang Energy (01171) rose 1.47% to HK$17.98.
The Zhitong Finance App learned that coal stocks generally rose in early trading. As of press release, China Coal Energy (01898) rose 3.39% to HK$8.24; Mongolian coking coal (00975) rose 2.54% to HK$9.27; China Shenhua (01088) rose 1.55% to HK$32.8; and Yankuang Energy (01171) rose 1.47% to HK$17.98.
According to the news, the National Development and Reform Commission and the National Energy Administration issued implementation opinions on the establishment of a coal production capacity reserve system. They mentioned that by 2027, a coal production capacity reserve system will be initially established, and the construction of a number of capacity reserve coal mine projects will be approved in an orderly manner to form a schedulable production capacity reserve of a certain scale. By 2030, the capacity reserve system will be more complete, the capacity management system will be more complete, and efforts will be made to form a schedulable production capacity reserve of about 300 million tons/year. The country's coal supply guarantee capacity will be significantly enhanced, and supply elasticity and resilience will continue to improve.
Cinda Securities pointed out that in the context of major energy inflation, we believe that the pattern of tight coal supply and demand will not change in the next 3-5 years. High-quality coal companies will still have the attributes of high barriers, high cash, high dividends, and high dividends. Combined with coal price bottom-up to drive sector valuation reshaping, sector investment is both defensive and cost-effective. After a short-term sector correction, it has already highlighted high investment value. It is recommended once again to focus on seizing coal allocation opportunities at this stage.