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E-Commodities Provides Guarantee of 180 Million Yuan to Haotong Energy
E-Commodities Holdings (HKG:1733) will provide a corporate guarantee of 180 million yuan to its unit Inner Mongolia Haotong Energy for a credit extension of 150 million yuan, according to a filing wit
Changes in Hong Kong stocks | China Coal Energy (01898) rose more than 4%, leading the rise in coal stocks, coal prices previously exceeded expectations, and the conflict between supply and demand widened or prompted a rebound in coal prices
The Zhitong Finance App learned that coal stocks rose in the afternoon. As of press release, China Coal Energy (01898) rose 4.37% to HK$9.07; Yancoal Australia (03668) rose 3.88% to HK$32.1; Yi Dazong (01733) rose 2.94% to HK$1.75; and China Shenhua (01088) rose 0.98% to HK$36.2. Dongwu Securities pointed out that from the end of March to mid-April, due to the lower than expected growth rate of real estate and infrastructure investment, demand for coal in the non-power industry weakened, and the number of ships anchored at the Bohai Rim port once dropped to around 60. Extinction
Strong performance in coal stocks, Mongolian Energy (00276) rose 12.28%, institutions say coal prices are still rising and difficult to fall
Jinwu Financial News | Coal stocks showed strong performance. Mongolia Energy (00276) rose 12.28%, South Gobi (01878) rose 3.6%, Mongolian coking coal (00975) rose 2.72%, China Coal Energy (01898) rose 2.65%, and Yidazong (01733) rose 1.76%. According to the news, Guosheng Securities said that in terms of thermal coal, it believes that before “reaching the peak of summer,” coal prices were prone to rising and falling because power plants faced seasonal demand for stock replenishment, and supply had not fully recovered, and the accumulation of stocks was not as high as the same period in previous years. Also, in terms of coking coal, the central bank announced plans to set up 300 billion yuan
Yi Dazong (01733.HK) plans to guarantee a comprehensive credit of no more than 180 million yuan for the subsidiary Inner Mongolia Haotong
Gelonghui, May 17, 丨 Yi Dazong (01733.HK) announced that the company's wholly-owned subsidiary, Inner Mongolia Haotong Energy Co., Ltd. (“Inner Mongolia Haotong”), recently obtained a comprehensive credit line of no more than RMB 150 million from the Inner Mongolia Autonomous Region Branch of the Export-Import Bank of China for a period of one year starting April 1, 2024. Comprehensive credit should be used by Inner Mongolia Haotong for working capital in daily business and international and domestic trade financing purposes. Since the bank provided comprehensive credit to Haotong in Inner Mongolia, the company agreed to provide the bank with a total amount of not more than RMB 180 million for three years starting April 1, 2024
Haitong Securities: 24Q1 performance is under pressure, coal may still fluctuate and adjust in the short term
Currently, the prices of thermal coal and coking coal have both entered the bottom fluctuation range, but the upward trend is yet to be further boosted by the demand side.
Tianfeng International: What are the future expectations of the coal price increase industry?
Regarding the recent month-on-month rise in thermal coal prices, it is mostly due to supply-side contraction. Coking companies have maintained a strategy of low inventory for a long time. Currently, coking coal stocks are at their lowest level in nearly 5 years.
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