Changes in Hong Kong stocks | China's Qinfa (00866) rose nearly 15%, and the profit after tax for the first half of the year is expected to be no more than 290 million yuan

The Zhitong Finance App learned that China's Qinfa (00866) rose by nearly 15%. As of press release, it had risen 10.83% to HK$1.995, with a turnover of HK$10.119 million.

According to the news, China's Qin Fa recently announced that it is expected to record profit of not more than 290 million yuan after tax in the first half of the year; profit after tax of 31 million yuan from continuing operations. Expected growth is mainly due to higher average coal sales prices, increased production of raw coal and refined coal, reduced foreign exchange losses, and gains from changes in provisions.

Guosheng Securities previously released a research report stating that as a pure overseas coal producer, the company's market-based pricing of its products is not restricted by domestic cooperation mechanisms, and can fully enjoy the high flexibility brought about by fluctuations in global shipping coal prices. In the context of the Indonesian government's tightening of RKAB quotas, which may reduce overall production, the company, as a major compliance mine, is not only less affected, but is also expected to benefit from increased industry concentration and gain a higher market share.