China Shenhua Energy Company (1088) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was RMB 69,585 million, down 21.1% year-over-year due to lower coal sales volume and average selling price, as well as decreased power output and tariffs.

• Net profit attributable to equity holders was RMB 13,374 million, a 19.0% decrease year-over-year.

• The acquisition of Hangjin Energy was completed and retrospectively consolidated, contributing RMB 1,025 million in revenue and reducing its loss significantly.

Financial highlights

• Basic earnings per share for Q1 2025 was RMB 0.673, down from RMB 0.831 in Q1 2024.

• Net cash generated from operating activities was RMB 20,538 million, a 25.9% decrease year-over-year.

• Total assets as of March 31, 2025, were RMB 675,837 million, up 0.6% from year-end 2024.

• Equity attributable to equity holders increased by 3.1% to RMB 435,788 million.

Outlook and guidance

• Construction of major projects such as Xinjie No. 1 and No. 2 Mines and the fifth phase of Huanghua Port is progressing as planned.

• The company continues to focus on stable production and expansion in coal, power, and infrastructure projects.