Changes in Hong Kong stocks | Coal stocks continue recent gains, coal's “15th Five-Year Plan” released, agencies say the safety supervision environment strictly restricts supply release

The Zhitong Finance App learned that coal stocks continued their recent gains. As of press release, MONGOL MINING (00975) rose 4.13% to HK$9.57; Shougang Resources (00639) rose 3.63% to HK$2.71; Yankuang Energy (01171) rose 3% to HK$13.05; and Yancoal Australia (03668) rose 1.44% to HK$32.42.

According to news, on August 10, the National Development and Reform Commission and the National Energy Administration issued the “15th Five-Year Plan for the Development of the Coal Industry”. CITIC Futures released a research report saying that overall, the “15th Five-Year Plan” is more about structural optimization than total contraction or expansion of the coal supply side, and the main conflict in the industry has shifted from “not enough” to “good or bad.” The marginal impact of current policy plans on coal supply tends to weaken, and market operations will be more dominated by dynamic fundamentals.

Shanxi Securities said that the safety supervision environment strictly restricts supply release, and frequent accidents in Shanxi have had a greater impact on coking coal. Incoming water is scarce in summer, and demand for coal and electricity is strongly supported. The mid-quarter market trading style focused on performance, and the subsequent upward momentum for coal stocks came from prices. Guojin Securities said that in the short term, it is concerned about the upward trend in coal demand driven by a new round of inventory replenishment around September. In the long run, I am optimistic about the double impact on EPS and valuation brought about by the central rise in thermal coal prices.