China Shenhua Energy Company (1088) Q2 2026 earnings summary

Executive summary

• Achieved revenue of RMB189,338 million, up 7.9% year-over-year; net profit attributable to equity holders reached RMB31,054 million, up 1.9% year-over-year.

• Completed the acquisition of equity interests in 12 target companies, significantly expanding coal, power, and coal chemical segments.

• Maintained stable production and high output in coal, increased sales of purchased coal by 32.5%, and enhanced integrated operations across coal, power, railway, port, shipping, and chemicals.

• Proposed interim dividend of RMB0.98 per share, totaling RMB21,256 million, representing 68.4% payout of IFRS net profit for H1 2026.

Financial highlights

• Revenue: RMB189,338 million (+7.9% YoY); EBITDA: RMB65,177 million (+5.2% YoY); Net profit attributable to equity holders: RMB31,054 million (+1.9% YoY).

• Basic EPS: RMB1.448 (+0.7% YoY); Net cash inflow from operating activities: RMB54,664 million (+6.1% YoY).

• Total assets: RMB929,709 million (+1.9% from Dec 2025); Gearing ratio: 39.9% (+7.0pp YoY); Total equity: RMB558,835 million.

• Interim dividend proposed: RMB0.98/share, total RMB21,256 million.

Outlook and guidance

• Coal demand in China expected to remain robust in H2 2026, with tight supply-demand balance and stable to strengthening prices.

• National power consumption projected to grow 5–6% YoY in H2 2026; new power generation capacity to reach 400 GW for the year.

• Company targets full-year commercial coal production of 513.4 million tonnes and coal sales of 618.1 million tonnes.