According to the Huafu Securities Research Report, Yankuang Energy's coal volume and price have increased steadily, and the coal chemical industry has improved markedly. Net profit to mother in the first half of the year was 7.150 billion yuan, +47.8% year-on-year; in 2026Q2, the company achieved net profit of 3.195 billion yuan, +55.3% year-on-year. Northwest Mining also boosted its performance, combining mid-term dividends and buybacks, further highlighting the high dividend value. The recovery in coal prices in 2026H1 has led to a recovery in the coal sector's profit margin. The gross margin of the coal chemical industry has increased significantly, and the Northwest Mining Industry is expected to further expand its resources and production capacity. The net profit of the company is estimated to be 181/199/21.8 billion yuan in 2026-2028, respectively, and the corresponding EPS is 1.80/1.98/2.18 yuan/share. As a leading domestic thermal coal enterprise, the company has outstanding domestic and foreign resource endowments, a complete coal chemical industry chain, rich experience in international operations, and maintains a “buy” rating.

According to the Huafu Securities Research Report, Yankuang Energy's coal volume and price have increased steadily, and the coal chemical industry has improved markedly. Net profit to mother in the first half of the year was 7.150 billion yuan, +47.8% year-on-year; in 2026Q2, the company achieved net profit of 3.195 billion yuan, +55.3% year-on-year. Northwest Mining also boosted its performance, combining mid-term dividends and buybacks, further highlighting the high dividend value. The recovery in coal prices in 2026H1 has led to a recovery in the coal sector's profit margin. The gross margin of the coal chemical industry has increased significantly, and the Northwest Mining Industry is expected to further expand its resources and production capacity. The net profit of the company is estimated to be 181/199/21.8 billion yuan in 2026-2028, respectively, and the corresponding EPS is 1.80/1.98/2.18 yuan/share. As a leading domestic thermal coal enterprise, the company has outstanding domestic and foreign resource endowments, a complete coal chemical industry chain, rich experience in international operations, and maintains a “buy” rating.