In the last week before the May Day holiday, A-Shares were retreating and consolidation, and the “coal flying color dance” market reappeared on a small scale. The energy metals led by lithium mine were collectively repaired under the new energy construction demand and the expectation of resumption of work and production in the automotive industry, while coal stocks with overall bright performance in the first quarter also rose strongly.
China Shenhua Energy Company Limited(601088) , China’s largest listed coal company with a net profit attributable to its parent company of more than 50 billion last year, has just thrown out a huge dividend plan of 50.4 billion and announced that its net profit attributable to its parent company in the first quarter of 2022 was 18.96 billion, an increase of 63.3% year-on-year. Over the past two days, China Shenhua Energy Company Limited(601088) share price has soared by nearly 10% in total. At present, the total market value has reached 620 billion yuan. In addition, the trend of China Coal Energy Company Limited(601898) share price, the leading coal producer of 100 billion yuan, is similar. On the news side, according to the data of the National Bureau of statistics, from January to March, the total profit of coal mining and washing industry increased by 1.89 times year-on-year.
According to the published data of the first quarter report, there are nine listed companies in the coal sector that doubled the net profit of the first quarter report in 2022 Jizhong Energy Resources Co.Ltd(000937) , Liaoning Energy Industry Co.Ltd(600758) and the recently popular “demon stock” Shanghai Datun Energy Resources Co.Ltd(600508) led the sector in year-on-year growth rate.
According to the General Administration of customs, affected by the conflict between Russia and Ukraine and the overseas economic recovery, the high price of imported coal made the price of coal outside China upside down, resulting in a year-on-year decrease of 24% in the first quarter of 2022. In the context of coal supply guarantee, the national Standing Committee put forward the target of adding 300 million tons of coal capacity this year on April 20.
In addition, after hours on April 28, the Ministry of Finance announced that in order to strengthen the guarantee of energy supply and promote high-quality development, the Tariff Commission of the State Council recently announced that the provisional import tax rate of zero will be implemented for all coal from May 1, 2022 to March 31, 2023.
Due to the high international coal prices, the impact of this policy of reducing import costs on the total import volume is difficult to show in a short time, but for coal enterprises, it is undoubtedly a signal of high production and sales expectations in the second quarter.
Analysts said that during the Tenth Five-Year Plan period, China’s coal consumption is expected to maintain a certain degree of stable growth with the application of coal and electricity, and China’s traditional coal consumption is expected to maintain a certain advantage in the Fifth Five-Year Plan period.
The organization has ambushed the coal sector in advance. In the first quarter of 2022, the market value and proportion of coal positions of public funds increased month on month. By the end of the first quarter, the total market value of coal shares held by public funds was 27.684 billion yuan, an increase of 209.33% compared with 8.95 billion yuan in the previous quarter. Chips are mainly concentrated in the power coal leader, and the position of coking coal has also increased. The top three subjects with positions in the first quarter of 2022 are China Shenhua Energy Company Limited(601088) , Shaanxi Coal Industry Company Limited(601225) , Yankuang energy, accounting for 29.6%, 23.4% and 18.1% of the market value of coal positions respectively. The total proportion of the three subjects exceeds 70% of the market value of coal positions
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