Shan Xi Hua Yang Group New Energy (600348) Q3 2026 earnings summary

Executive summary

• Q3 profit rose sharply YoY as higher coal prices lifted earnings; 9M revenue declined 4.64% while attributable net income increased 49.67%.

• Operating cash flow reached RMB 2,784,760,875.74 for 9M, up 289.61% YoY, reflecting higher cash receipts from sales and lower supplier payments.

Financial highlights

• Q3 revenue was RMB 6,248,431,006.56, up 9.32% YoY; total profit was RMB 1,243,714,598.69, up 79.03%.

• 9M revenue was RMB 16,169,428,070.44, down 4.64%; attributable net income was RMB 1,682,474,627.30, up 49.67%.

• Q3 attributable net income was RMB 620,945,883.13, up 81.82%; adjusted for non-recurring items, it was RMB 627,352,408.86, up 81.27%.

• 9M net income was RMB 2,139,137,703.14 versus RMB 1,429,475,027.00 YoY; basic EPS was RMB 0.47 versus RMB 0.31.

• 9M coal sales revenue was RMB 14.290 billion, including RMB 13.702 billion from self-produced coal; coal sales cost was RMB 7.857 billion and gross profit RMB 6.433 billion.

Segment performance

• 9M raw coal output was 29.75 million tonnes; commercial coal sales were 25.77 million tonnes, at an average comprehensive selling price of RMB 554.43 per tonne.

• Self-produced coal accounted for RMB 13.702 billion of coal sales revenue and RMB 7.367 billion of coal sales cost for 9M.