Huaibei Mining's Q1 revenue declines amid output, sales drop

Huaibei Mining Holdings (SSE:600985) announced a significant decrease in operating revenue for the first quarter of 2025, reporting a total of CNY 10.57 billion, down 39% compared to the same period last year. The decline is attributed to reduced production and sales volumes of coal products. The company produced 430.80 thousand tons of coal, a decrease of 17.73% year-over-year, while sales volumes of coal decreased by 26.18% to 297.20 thousand tons. Coal sales revenues were CNY 278.70 million, down 41.16%. Additionally, coal chemical output has decreased 15.19% YOY. In the wake of these results, the company will hold a performance briefing on May 12, 2025. Furthermore, Huaibei Mining will have its 2024 Annual General Meeting on April 29, where the board will stand for re-election. The 2024 profit distribution plan, future shareholder returns (2025-2027), and 2025 external auditor appointment will also be up for vote.