china top coal producer reports less profits in q1
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China top coal producer reports less profits in Q1

Arab Today, arab today

Arab Today, arab today China top coal producer reports less profits in Q1

China Shenhua Energy Company
Beijing - XINHUA

China Shenhua Energy Company Limited, the nation's top coal producer, has said its net profits plummeted 28.3 percent year on year to 4.74 billion yuan (734 million US dollars) in the first quarter of 2016.

Shenhua, a State-owned enterprise listed both in Shanghai and Hong Kong, said in a statement that its revenue in the first quarter fell 4.6 percent to 39.4 billion yuan.

Shenhua's coal segment reported a year-on-year decrease of 49.6 percent in gross profit in the first quarter of 2016, owing to falling coal prices and rising sales cost, according to the statement.

China is the world's largest coal producer, but the coal sector is hard hit by an industrial glut. In the first quarter this year, oversupply remained unsolved in the coal market, Shenhua said in the statement.

Yet the coal price bottomed out as the relation between the supply and demand tends to be favorable for the suppliers, it said.

The share price of Shenhua rose 1.8 percent to 14.78 yuan apiece in Shanghai on Friday ahead of the statement. Its share price edged down 0.15 percent in Hong Kong.

Both the Shanghai and Hong Kong stock exchanges were closed on Monday for the Labor Day holiday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china top coal producer reports less profits in q1 china top coal producer reports less profits in q1

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china top coal producer reports less profits in q1 china top coal producer reports less profits in q1

 



GMT 11:40 2018 Friday ,05 January

Zuckerberg makes 'fixing' Facebook a personal goal

GMT 01:05 2014 Thursday ,13 February

Flora

GMT 21:50 2017 Wednesday ,25 October

Abdullah bin Zayed visits WorldSkills Abu Dhabi 2017

GMT 16:33 2017 Tuesday ,04 July

Hany Ramzy happy for positive reactions

GMT 20:11 2018 Wednesday ,05 December

EU wants INF Treaty 'preserved and fully implemented'

GMT 21:01 2018 Sunday ,25 November

Oil prices plummet amid U.S. drilling rigs down

GMT 13:01 2016 Sunday ,28 August

China's Top 500 Firms Report First Revenue Decline

GMT 04:46 2014 Thursday ,11 December

Taliban suicide blast kills 6 Afghan soldiers in Kabul

GMT 11:10 2018 Wednesday ,17 January

MP Hariri welcomes Sho
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday