Shanxi Meijin Energy Co Ltd

The coal sector rallied again in afternoon trading, with Dayou Energy hitting limit up in a bullish reversal, marking its second limit-up in four sessions. Earlier, Shanghai Energy and Meijin Energy hit limit up, while Xinji Energy and Haohua Energy rose in tandem. On the news front, Shanghai Energy's 2026 interim report showed first-half revenue of 4.45 billion yuan, up 27.21 percent year on year, and net profit attributable to shareholders of 283 million yuan, up 38.02 percent. A research note from Guosheng Securities said the pace of coal mine resumption in Shanxi remains slow, supply stays tight, downstream demand is solid, and most mines are struggling to meet demand. Combined with rising futures prices and strong market sentiment, coking coal prices have repeatedly hit new highs for the year, and this trend is expected to continue in the short term.

Mainstream coke producers in Hebei, Shanxi and other regions have issued letters to raise coke prices by 50 to 55 yuan per tonne, with the increase scheduled to take effect from 0:00 on the 20th. The latest coke price on 17 August was 1,868.75 yuan per tonne, up 11.40 percent over the past 90 days. Data from the National Bureau of Statistics show that in July 2026, raw coal output of industrial enterprises above designated size was 343 million tonnes, down 10.1 percent year on year and the lowest since October 2021. Changjiang Securities said in a research note that coke industry profitability is already at a historical bottom, new capacity additions on the supply side are entering their final stage, and emerging coal chemical demand on the demand side continues to grow, with the overall picture showing a bottoming-out and stabilising trend. Huachuang Securities said in a research note that the overseas coke market is also warming up, with Indonesia's coke FOB price reaching 275 US dollars per tonne in May 2026, providing some support for domestic coke prices.