China Shenhua Energy Company Limited (China Shenhua) reported a 1.9% year-on-year increase in profit attributable to equity holders to RMB31.05 billion for the six months ended 30 June 2026. Total profit reached RMB38.06 billion, while EBITDA rose 5.2% to RMB65.18 billion.
\n\nRevenue climbed 7.9% to RMB189.34 billion, driven by stronger coal prices, higher coal volumes from third-party purchases and expanded power generation output. Coal sales grew 1.8% to 300.2 million tonnes, with the average selling price up 4.5% to RMB441 per tonne. Power output dispatch increased 5.5% to 128.08 billion kWh, supported by new capacity additions that lifted total installed capacity to 70.64 GW.
\n\nCost of sales advanced 9.0% to RMB132.65 billion, reflecting higher purchased-coal expenses, fuel costs and transportation charges. General and administrative expenses fell 9.0% to RMB7.06 billion, while finance costs rose 9.5% to RMB2.72 billion, partly due to increased foreign-exchange losses.
\n\nThe board declared an interim dividend of RMB0.98 per share, totalling RMB21.26 billion, equivalent to 68.4% of first-half IFRS earnings. Payment is subject to shareholder approval at an extraordinary general meeting on 23 September 2026; holders of A-shares and H-shares will receive the dividend in RMB and, for non-Southbound H-share investors, in Hong Kong dollars.
\n\nDuring the period China Shenhua completed the largest asset purchase by share issuance in China’s A-share market, acquiring 12 energy and logistics companies from parent China Energy and subsidiary Western Energy. Eleven entities were fully consolidated, boosting coal resources, power capacity and coal-chemical scale; one entity (Jinshen Energy) is now an associate. To fund the cash portion of the consideration and related costs, the company raised RMB19.97 billion in a private placement of 457.67 million A-shares in April.
\n\nTotal assets reached RMB929.71 billion, up 1.9% from end-2025, while total liabilities rose 23.5% to RMB370.87 billion, lifting the gearing ratio to 39.9%. Net operating cash inflow improved 6.1% to RMB54.66 billion. Capital expenditure in the first half amounted to RMB23.29 billion, focused on coal-mine development, power expansion projects and logistics infrastructure.
\n\nFor full-year 2026 China Shenhua targets commercial coal output of 513 million tonnes, coal sales of 618 million tonnes, power generation of 2,881 billion kWh and revenue of RMB360 billion, with cost controls aimed at limiting unit self-produced coal costs to a roughly 4% increase versus 2025.