Core Viewpoint - The company, Huaibei Mining, is forecasting a significant decline in net profit for the year 2025, with expectations of a decrease of approximately 69.21% compared to the previous year, primarily due to reduced coal production and lower coal prices [2][4][8]. Financial Performance Summary - The company anticipates a net profit attributable to shareholders of approximately 1.495 billion yuan for 2025, down from 4.855 billion yuan in the previous year, representing a decrease of about 3.36 billion yuan [2][4]. - The expected net profit after deducting non-recurring gains and losses is projected to be around 1.338 billion yuan, a decline from 4.643 billion yuan in the previous year, indicating a reduction of approximately 3.305 billion yuan [2][4]. Previous Year’s Financial Data - In the previous year, the total profit was 5.408 billion yuan, with a net profit attributable to shareholders of 4.855 billion yuan and a net profit after deducting non-recurring gains and losses of 4.643 billion yuan [6]. Reasons for Profit Decline - The primary reasons for the anticipated decline in performance include a decrease in coal production and sales volume, coupled with a relaxed supply-demand balance in the domestic coal market, leading to a significant drop in coal prices [8].

Core Viewpoint - The company, Huaibei Mining Holdings Co., Ltd., has announced a significant decline in its expected net profit for the year 2025, primarily due to decreased coal production and prices, alongside a more relaxed domestic coal supply-demand situation [5][10]. Group 1: Operational Data - The company has provided preliminary operational data for its coal and coal chemical business for the year 2025, indicating that the sales volume of commercial coal does not include self-use, with a self-use sales rate of 100% [1]. - The sales volume of methanol also excludes self-use, with a self-use sales rate of 96.51% [1]. Group 2: Financial Performance Forecast - The company expects to achieve a net profit attributable to shareholders of approximately 1.495 billion yuan for 2025, a decrease of about 3.36 billion yuan compared to 4.855 billion yuan in the previous year, representing a year-on-year decline of approximately 69.21% [5][8]. - The forecasted net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be around 1.338 billion yuan, down about 3.305 billion yuan from 4.643 billion yuan in the previous year, reflecting a year-on-year decrease of approximately 71.18% [5][8]. Group 3: Reasons for Profit Decline - The significant decline in the company's 2025 annual performance is attributed to a decrease in the sales volume of commercial coal compared to the previous year, coupled with a relaxed domestic coal supply-demand landscape and a notable drop in coal prices, leading to a substantial reduction in the profitability of the company's main business [10].

Core Viewpoint - Huabei Mining (600985.SH) forecasts a significant decline in its 2025 annual net profit, projecting approximately 1.495 billion yuan, a decrease of about 3.36 billion yuan or 69.21% compared to the previous year [1] Financial Performance - The company expects a net profit attributable to shareholders after deducting non-recurring gains and losses to be around 1.338 billion yuan, down approximately 3.305 billion yuan or 71.18% year-on-year [1] - The anticipated decline in annual performance is primarily due to a decrease in coal production and sales volume, alongside a loosening domestic coal supply-demand balance, leading to weaker coal prices [1] Market Conditions - The coal product prices have significantly decreased compared to the same period last year, resulting in a substantial drop in the company's main business profits [1]

Core Viewpoint - Huabei Mining (600985.SH) anticipates a significant decline in its 2025 annual net profit, projecting approximately 1.495 billion yuan, a decrease of about 3.36 billion yuan or 69.21% compared to the previous year [1] Group 1: Financial Performance - The expected net profit attributable to the parent company for 2025 is around 1.495 billion yuan, down from 4.855 billion yuan in the previous year, reflecting a decrease of approximately 3.36 billion yuan [1] - The projected net profit after deducting non-recurring gains and losses is about 1.338 billion yuan, a reduction of around 3.305 billion yuan or 71.18% compared to 4.643 billion yuan in the prior year [1] Group 2: Operational Factors - The significant decline in 2025 annual performance is primarily attributed to a decrease in the company's coal production and sales volume compared to the previous year [1] - The domestic coal supply and demand landscape is showing a relaxed trend, leading to weak coal prices, which have notably decreased compared to the same period last year [1] - The decline in coal product prices has resulted in a substantial drop in the company's main business profits compared to the previous year [1]

Investment Rating - The report maintains a positive outlook on the coal industry, suggesting an "Overweight" rating, indicating that the industry is expected to outperform the overall market [22]. Core Insights - The coal industry is anticipated to see a recovery in prices and profits in the second half of 2025, driven by seasonal demand and improved market conditions [1]. - Domestic raw coal production is projected to grow slightly by 1.2% year-on-year in 2025, while coal imports are expected to decline by 9.6% [2][11]. - The fourth quarter of 2025 is expected to witness a significant rebound in both thermal coal and coking coal prices, with thermal coal prices rising approximately 13.9% quarter-on-quarter [2][15]. Summary by Sections Supply and Demand Dynamics - Domestic raw coal production for 2025 is estimated at 4.832 billion tons, reflecting a year-on-year increase of 1.2%. Monthly production figures for October, November, and December are projected at 407 million, 427 million, and 437 million tons, respectively, with slight declines in growth rates [5]. - Coal imports for 2025 are expected to total 490 million tons, a decrease of 9.6% compared to the previous year, with notable monthly fluctuations in the last quarter [11]. Price Trends - In Q4 2025, the average spot price for thermal coal at Qinhuangdao port is projected to be around 767 RMB/ton, down 6.99% year-on-year but up 13.9% from Q3 2025 [14][15]. - Coking coal prices are also expected to rise, with the average price for Shanxi's main coking coal reaching 1,727 RMB/ton, marking a 0.8% increase year-on-year and a 10.44% increase from Q3 2025 [15]. Company Performance Forecasts - Key companies in the coal sector are expected to report varying performance in Q4 2025. China Shenhua is projected to achieve a net profit of 14.129 billion RMB, a year-on-year increase of 12.16% [16]. - Other companies such as TBEA and Erdos are also expected to show significant profit growth, while companies like Shaanxi Coal and Energy may see declines due to price pressures [16]. Valuation Metrics - The report includes a valuation table for key coal companies, indicating their expected earnings per share (EPS) and price-to-earnings (PE) ratios for 2025 and beyond, providing insights into their market positioning [17].

股票代码：600985 股票简称：淮北矿业 编号：临 2026-002 一、主要运营数据 注：商品煤销量不含公司自用，含自用产销率为 100%；甲醇销量不含公司自用，含自用产 销率为 96.51%。 二、风险分析 以上数据源自公司内部统计，未经审计，与公司定期报告披露的数据可能存 在差异，最终数据以定期报告披露的数据为准。敬请广大投资者注意投资风险。 淮北矿业控股股份有限公司 2025 年度主要运营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 经淮北矿业控股股份有限公司（以下简称"公司"）财务部门初步测算，公 司 2025 年度煤炭及煤化工业务主要运营数据如下表： | 指标项目 | 单位 | 2025 年度 | 2024 年度 | 变动比率（%） | | --- | --- | --- | --- | --- | | 一、煤炭业务 | | | | | | 商品煤产量 | 万吨 | 1,738.38 | 2,055.30 | -15.42 | | 商品煤销量 | 万吨 | 1,331.11 | 1,536.69 | ...

人民财讯1月23日电，淮北矿业（600985）1月23日公告，预计2025年实现净利润14.95亿元左右，同比 下降69.21%左右。公司2025年商品煤产量销量同比有所下降，叠加国内煤炭供需格局呈现宽松态势， 煤炭价格弱势运行，公司煤炭产品价格较同期下降明显，导致公司主营业务利润较同期大幅下降。 ...

淮北矿业1月23日公告，预计2025年度归母净利润14.95亿元左右，同比减少69.21%左右。该公司称， 2025年年度业绩大幅下降的主要原因为：公司2025年商品煤产量销量同比有所下降，叠加国内煤炭供需 格局呈现宽松态势，煤炭价格弱势运行，公司煤炭产品价格较同期下降明显，导致公司主营业务利润较 同期大幅下降。 ...

每经AI快讯，1月23日，淮北矿业(600985.SH)公告称，预计2025年年度实现归属于母公司所有者的净利 润为14.95亿元左右，与上年同期48.55亿元相比，同比减少69.21%左右；扣除非经常性损益后的净利润 为13.38亿元左右，同比减少71.18%左右。业绩下降主要因商品煤产销量同比下降，叠加煤炭价格弱势 运行，导致主营业务利润大幅下滑。 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 股票代码：600985 股票简称：淮北矿业 编号：临 2026—003 淮北矿业控股股份有限公司 2025 年年度业绩预告 二、上年同期经营业绩和财务状况 业绩预告的具体适用情形：本期业绩实现盈利，且净利润与上年同期相 比下降 50%以上。 业绩预告相关的主要财务数据情况：淮北矿业控股股份有限公司（以下 简称"公司"）预计 2025 年年度实现归属于母公司所有者的净利润为 14.95 亿 元左右，与上年同期 48.55 亿元相比，将减少 33.60 亿元左右，同比减少 69.21% 左右；预计 2025 年年度实现归属于母公司所有者的扣除非经常性损益后的净利 润为 13.38 亿元左右，与上年同期 46.43 亿元相比，将减少 33.05 亿元左右，同 比减少 71.18%左右。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 1.经财务部门初步测算，公司预计 2025 年年度实现归 ...