Hengyuan Coal Power's Q1 profit plunges 93.7%

Anhui Hengyuan Coal Industry and Electricity Power (SSE:600971) reported a sharp decline in first-quarter earnings, with net profit attributable to shareholders dropping 93.7% to CNY27,181,923.44, compared to CNY431,228,432.00 in the same period last year. The decline was attributed to lower coal prices and reduced sales volume, leading to a 42.52% decrease in operating income, which landed at CNY1,178,892,854.20. Cash flow from operating activities also decreased significantly, down 73.79% to CNY174,407,406.46. Basic and diluted earnings per share both reflected the sharp drop, falling to CNY0.0227 from CNY0.3594.