Changes in Hong Kong stocks | China Shenhua (01088) rose nearly 2%, China Taibao spent HK$300 million to increase its H share holdings, Damo is optimistic that the company's profits are resilient

The Zhitong Finance App learned that China's Shenhua (01088) rose nearly 2%. As of press release, it had risen 1.65% to HK$43.16, with a turnover of HK$128 million.

According to the news, on November 4, China Taibao and its subsidiaries Taibao Life Insurance, Taibao Industrial Insurance, Pacific Health Insurance, and Pacific Anxin Agricultural Insurance successively disclosed announcements listing China Shenhua H shares. According to the announcement, Taibao Life Insurance and its related party Taibao Asset Management's portfolio insurance asset management products purchased 8.1075 million shares of China Shenhua H shares through Hong Kong Stock Connect on October 30, triggering listing. According to the Hong Kong Stock Exchange equity disclosure information, on October 30, Taibao Asset, as the manager of Taibao Life Insurance and some portfolio insurance asset management products, purchased 8.1075 million shares of China Shenhua H shares. The average transaction price was HK$42.55 per share. Based on this calculation, the current increase in holdings amounts to HK$345 million.

According to a recent research report from Damo, China Shenhua's profit for the fourth quarter is expected to remain resilient. The resumption of production in coal mines in Shanxi is still progressing, but due to strict safety inspections and changes in the mentality of coal mining enterprises, the overall resumption of production is slow. Furthermore, demand for pre-heating storage and power plant inventories are low in winter, and thermal coal prices are expected to fluctuate at a high level in the short term, which means that China Shenhua's profit will be resilient before the end of the year.