China's Qinfa (00866) rose by more than 15% and rose 15.25% to HK$0.68 at press time, with a turnover of HK$5.82 million.
The Zhitong Finance App learned that China's Qinfa (00866) rose by more than 15% and rose 15.25% at press time to HK$0.68, with a turnover of HK$5.82 million.
In terms of performance, the company's results for the year ended December 31, 2023. The group achieved revenue of 3.4 billion yuan (RMB, same below) during the period, a year-on-year decrease of 9.1%; profit attributable to the company's equity holders was 200 million yuan, a year-on-year decrease of 56.12%; and basic profit per share was 7.8 points. According to the announcement, the Group's gross margin for the year ended December 31, 2023 was 25.5%, while the gross margin for the year ended December 31, 2022 was 33.6%. The decrease in gross margin was mainly due to a decrease in the average selling price of thermal coal.
Huafu Securities released a research report stating that the overall volume and price of the 2024 Coal Changxie Plan will remain stable. The benchmark price is expected to remain at 672 yuan/ton, and the price of thermal coal will continue to fluctuate narrowly. Looking ahead to 2024, thermal coal supply and demand will return to a tight balance. There may be a small gap in 2025. With the support of the policy of securing supply and price stability, it is expected that the spot price of thermal coal will be supported or will continue to fluctuate at a high level in 2024. In 2024, thermal coal prices may receive some support in terms of supply and demand. At the same time, most coal companies value cash dividends to give back to investors, and thermal coal-related companies have ushered in better investment opportunities.