Pingdingshan Tianan Coal Mining (601666) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was RMB 23.32 billion, up 0.78% year-over-year, but Q3 revenue declined 1.90% compared to the same quarter last year.

• Net profit attributable to shareholders for Q3 was RMB 652 million, down 27.89% year-over-year; for the first nine months, it was RMB 2.04 billion, down 34.91% year-over-year.

• Declines in coal sales volume and price were the main drivers of reduced profitability.

Financial highlights

• Operating income for the first nine months: RMB 23.32 billion, up 0.78% year-over-year.

• Net profit attributable to shareholders for the first nine months: RMB 2.04 billion, down 34.91% year-over-year.

• Basic EPS for the first nine months: RMB 0.8406, down 38.06% year-over-year.

• Net cash flow from operating activities for the first nine months: RMB 5.99 billion, down 13.12% year-over-year.

Outlook and guidance

• Management attributes profit decline to lower coal prices and sales volume, with no explicit forward guidance provided.