Huaibei Mining (600985) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was ¥41.12 billion, down 37.44% year-over-year; net profit attributable to shareholders was ¥1.51 billion, down 68.98% year-over-year.

• Coal output and sales volume declined 15.42% and 13.38% respectively; coke and methanol output increased, but average selling prices fell.

• The company maintained stable operations amid industry downturn, focusing on cost control, safety, and technological innovation.

• Proposed cash dividend of ¥2.50 per 10 shares, totaling ¥673 million, representing 44.71% of attributable net profit.

Financial highlights

• Operating income: ¥41.12 billion, down 37.44% year-over-year.

• Net profit attributable to shareholders: ¥1.51 billion, down 68.98% year-over-year.

• Basic EPS: ¥0.56, down 69.57% year-over-year.

• Operating cash flow: ¥5.43 billion, down 40.11% year-over-year.

• Gross margin for coal: 41.26% (down 8.51pp); for coal chemicals: 20.43% (up 1.09pp).

Outlook and guidance

• 2026 targets: coal output 17.26 million tons, coke 3.9 million tons, ethanol 570,000 tons.

• Revenue target: ¥48.07 billion; net profit target: ¥1.65 billion.

• Focus on safety, cost reduction, production efficiency, and green transformation.