Huaibei Mining (600985) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 10.17 billion, down 3.72% year-over-year.

• Net profit attributable to shareholders was RMB 491 million, a 29% decrease year-over-year.

• Operating cash flow increased 131.44% year-over-year to RMB 1.02 billion.

• Decline in profit mainly due to lower coal sales prices compared to the same period last year.

Financial highlights

• Total assets at quarter-end were RMB 90.21 billion, up 1.33% from year-end 2025.

• Shareholders’ equity reached RMB 42.00 billion, up 1.35% from year-end 2025.

• Basic and diluted EPS were both RMB 0.18, down 30.77% year-over-year.

• Gross margin and operating profit both declined due to lower coal prices.

• Non-recurring profit items totaled RMB 8.45 million, mainly from government subsidies and asset disposals.

Outlook and guidance

• Management attributes profit decline to market-driven coal price reductions.

• Focus remains on core product sales and cost control to stabilize future performance.