Shaanxi Coal's 2024 earnings down despite increased production
Shaanxi Coal Industry Company (SSE:601225) announced a mixed performance for 2024. While the company increased its coal output by 4.13% to 170 million tons and sales by 9.91% to 260 million tons, net profit attributable to shareholders fell by 3.97% to 22.196 billion yuan. Earnings per share decreased by 9.59%. The company attributed the profit decline primarily to lower coal prices, even though operational volume increased. Additionally, Shaanxi Coal completed the acquisition of Shaanxi Coal Electric Power Group during the year, but the consolidated results did not fully offset the impact of price declines. Looking at February 2025, coal production rose 16.98% year-over-year to 1.43861 million tons, and sales rose 49.59% to 1.42411 million tons, potentially setting the stage for a turnaround in 2025, though officials cautioned investors to exercise caution. The company noted that figures for February 2025 remain preliminary and unaudited.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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