Pingmei Group forecasts 80% drop in half-year profit

Pingdingshan Tiaan Coal Mining Co anticipates its 2025 half-year net profit will fall 80.61% to 83.48% to between 230m yuan and 270m yuan, down from 1.39bn yuan the previous year.

Net profit attributable to shareholders, excluding non-recurring items, is expected to drop 78.68% to 81.52% to between 260m yuan and 300m yuan from 1.41bn yuan previously.

The company attributed the forecasted decline to falling prices of its main coal products during the reporting period.