Pingdingshan Tianan Coal Mining (601666) investor relations material

Executive summary

• Revenue for H1 2026 reached ¥12.28 billion, up 21.34% year-over-year, with net profit attributable to shareholders at ¥316.76 million, up 22.84% year-over-year.

• Operating cash flow surged 532.58% year-over-year to ¥2.55 billion, reflecting strong cash generation.

• The company maintained full production and sales, with commodity coal sales of 13.34 million tons and significant increases in coking coal output.

• No interim dividend or capital increase from reserves was proposed for the period.

Financial highlights

• Operating income: ¥12.28 billion (+21.34% YoY); operating cost: ¥10.28 billion (+24.48% YoY).

• Total profit: ¥572.90 million (+60.06% YoY); net profit attributable to shareholders: ¥316.76 million (+22.84% YoY).

• Basic EPS: ¥0.1281 (+31.79% YoY); diluted EPS: ¥0.1278 (+31.48% YoY).

• Cash flow from operations: ¥2.55 billion (+532.58% YoY).

• Gross margin and profitability improved, with EBITDA/interest coverage at 5.20x (up 15.3%).

Outlook and guidance

• The domestic coal market is expected to remain tight in H2 2026 due to ongoing safety and production controls.

• Power coal demand is supported by seasonal consumption and restocking, while coking coal faces balanced supply-demand due to weak steel margins.

• Macro policy effectiveness, steel output controls, and raw material price trends will be key market drivers.