China Shenhua Energy Company (1088) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2024 reached RMB 253,899 million, up 0.6% year-over-year, with Q3 revenue at RMB 85,821 million, up 3.4% compared to the same quarter last year.

• Profit attributable to equity holders for the nine months was RMB 50,569 million, down 3.7% year-over-year, but Q3 profit rose 13.8% year-over-year to RMB 17,798 million.

• Net cash generated from operating activities increased 11.8% year-over-year to RMB 83,504 million.

Financial highlights

• Gross profit for the nine months was RMB 77,511 million, down from RMB 80,292 million year-over-year.

• Basic earnings per share for the nine months was RMB 2.546, down 3.7% year-over-year.

• Total assets as of 30 September 2024 were RMB 652,360 million, up 3.0% from year-end 2023.

• Equity attributable to equity holders increased 1.4% to RMB 417,438 million.

Outlook and guidance

• Continued investment in power generation and mining projects, with several new projects approved and under construction.

• Expansion in renewable energy capacity, with 305 MW of new installed capacity in 2024, including 225 MW in photovoltaic power.