Beijing Haohua Energy Resource Co Ltd

On August 27, the coal mining sector rose 3.05% during trading, with constituent stocks such as Jiangwu Equipment, Haohua Energy, Huayang Shares, Yankuang Energy, and Jinneng Holding Coal Industry leading gains. In terms of news, the China Coal Transportation and Distribution Association stated that overall coking coal prices in September are prone to rise but hard to fall, and nine institutions are unanimously bullish on the coking coal market for September 2026, with a quantified average strength model reading of 1.017, the highest since 2026 began. The association cautioned that the highly consistent tight market expectations warrant vigilance against market shifts under consensus expectations. Shenwan Hongyuan Research noted that in 2026 the coal industry will undergo deep supply-side optimization, while demand-side resilience of coal-fired power peak shaving becomes more prominent, and chemical coal demand is expected to remain buoyant throughout the year. Cinda Securities research argued that China's coal output will enter a peak plateau period during the 15th Five-Year Plan, remaining at a high level of 4.78 billion tonnes by 2030, providing long-term demand support for the coal mining machinery industry.

The coal sector rallied again in afternoon trading, with Dayou Energy hitting limit up in a bullish reversal, marking its second limit-up in four sessions. Earlier, Shanghai Energy and Meijin Energy hit limit up, while Xinji Energy and Haohua Energy rose in tandem. On the news front, Shanghai Energy's 2026 interim report showed first-half revenue of 4.45 billion yuan, up 27.21 percent year on year, and net profit attributable to shareholders of 283 million yuan, up 38.02 percent. A research note from Guosheng Securities said the pace of coal mine resumption in Shanxi remains slow, supply stays tight, downstream demand is solid, and most mines are struggling to meet demand. Combined with rising futures prices and strong market sentiment, coking coal prices have repeatedly hit new highs for the year, and this trend is expected to continue in the short term.

Haohua Energy has released its 2026 interim report, with net profit attributable to the parent company of 745 million yuan, up 66.14% from the same period last year. Total operating revenue was 4.811 billion yuan, up 9.46% year on year. Net cash inflow from operating activities was 1.623 billion yuan, up 54.23% year on year. The latest gross margin was 40.68%, an increase of 7.42 percentage points from the same period last year. Diluted earnings per share were 0.52 yuan, up 67.74% year on year.

On the evening of August 18, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Shenzhen Sunxing's wholly-owned subsidiary plans to invest in a high-end aluminum-based new materials project, with a planned capacity of 100,000 tons of high-end aluminum-based new materials and a first-phase investment of 400 million yuan to build an annual production line of 20,000 tons for demonstration. Luopu Skin plans to acquire a 51% stake in Mengying Technology to enter the equipment manufacturing sector. Jintian Copper is planning to spin off its controlling subsidiary Ketian Magnetics for listing. Yabang Chemical plans to publicly list and transfer 100% equity and creditor's rights of Daobo Chemical. In terms of performance, GigaDevice's net profit in the first half of the year was 6.857 billion yuan, up 1091.5% year-on-year; Puya Semiconductor's net profit attributable to the parent was 827 million yuan, up 1929.65%; Bluetrum's net profit was 480 million yuan, up 265.77%; Zhuzhou Smelter Group's net profit was 1.948 billion yuan, up 232.75%; Shandong Fiberglass's net profit was 29.2277 million yuan, up 234.89%; Yunhan Core City's net profit grew 207.69% year-on-year; Tunan Co., Ltd.'s net profit grew 167.92%; Tianshan Aluminum's net profit was 4.177 billion yuan, up 100.44%; China Securities's net profit was 7.639 billion yuan, up 69.44%; Haohua Energy's net profit grew 66.14%; Xingtong Co., Ltd.'s net profit grew 57.11%; Hengda New Materials' net profit grew 57.29%; Tianfu Communication's net profit grew 33.92%; Railway Track's net profit grew 32.38%; Guotai Haitong's net profit grew 28.74%; Huiquan Beer's net profit grew 23.26%; Jintian Copper's net profit grew 18.44%; Tibet Summit's net profit grew 18.03%; Focus Media's net profit grew 17.39%; Tebao Bio's net profit grew 11.37%; Jiangsu Financial Leasing's net profit grew 9.27%; Bank of Nanjing's net profit attributable to the parent was 13.65 billion yuan, up 8.17%; Rewei Co., Ltd.'s net profit grew 1.76%. China Unicom's net profit was 4.139 billion yuan, down 34.8% year-on-year; Huaneng Power International's net profit was 6.586 billion yuan, down 28.89%; Fuyao Glass's net profit was 3.97 billion yuan, down 17.37%; Shangtai Technology's net profit was 400 million yuan, down 16.6%; Shede Spirits' net profit was 145 million yuan, down 67.26%; Leyard's net profit was 69.1521 million yuan, down 59.74%; Zhongnan Culture's net profit was 30.587 million yuan, down 49.85%; Sunong Agricultural Development's net profit fell 32.48% year-on-year; H&T's net profit was 240 million yuan, down 32.23%; Guoguang Co., Ltd.'s net profit fell 20.39%; Jiahua Co., Ltd.'s net profit fell 9.03%; Tubao's net profit fell 7.67%; Hangmin Co., Ltd.'s net profit was 300 million yuan, down 4.59%. In terms of shareholding changes, Kangmeite shareholder Suzhou Yixing Tianxia plans to reduce its stake by no more than 1%; Jieya Co., Ltd.'s Mingyuan Fund and its concert parties plan to reduce their combined stake by no more than 4.99%; Espressif Systems' actual controller proposed a share buyback of 100 million to 200 million yuan; Huiyun Titanium obtained special financing support of no more than 22 million yuan for share repurchase. In terms of major contracts, Yakang Co., Ltd.'s subsidiary signed a computing power service procurement contract worth 868 million yuan; Hanhe Cable won a bid of about 717 million yuan for a China Southern Power Grid project; Beijing Creative Distribution Automation won a bid of about 304 million yuan for a China Southern Power Grid project; Dongwei Technology signed a sales contract worth 163 million yuan; PowerChina's newly signed contract value in the first seven months was 640.456 billion yuan, down 13% year-on-year.

On August 6, the coal mining concept rose 3.06% during the session. Haohua Energy and Jiangwu Equipment hit the daily limit up, while Huaibei Mining, Jinneng Holding Coal Industry, and Yankuang Energy gained over 5%. A research note from Changjiang Securities pointed out that the coal industry faces a window for capacity reduction in 2026, with effective thermal coal supply expected to decline 1.9% year-on-year to 3.806 billion tonnes. Short-term supply is under pressure, while policy efforts to curb excessive competition through overproduction checks are helping stabilize coal prices. In the first half of 2026, the average thermal coal price at Qinhuangdao Port rose 13.2% year-on-year to 767 yuan per tonne. A separate note from Shenwan Hongyuan Securities noted that the coal industry's supply-demand structure is undergoing a structural adjustment in 2026. Coal consumption for power generation is expected to grow 3.0% to 2.997 billion tonnes, while coal use in the chemical sector is set to surge 20.0% to 516 million tonnes, becoming the main source of incremental demand. Meanwhile, coal consumption in steel and building materials is expected to remain flat or decline. On the supply side, domestic commercial coal output is forecast to edge up 0.8% to 4.516 billion tonnes, with net imports narrowing to 440 million tonnes. Overall supply is tight, and the industry will enter a destocking cycle, with theoretical inventories projected to fall by 184 million tonnes. The coal price center is expected to find support.

On the evening of July 28, multiple listed companies on the Shanghai and Shenzhen stock exchanges issued important announcements. Luyang Energy-Saving's indirect controlling shareholder Ulysses filed for bankruptcy restructuring in the United States, with the process expected to conclude in about 60 days. Wanma Co.'s subsidiary plans to invest in building a factory with an annual output of 100,000 tons of premium cable materials and a Qingdao submarine cable insulation material project, with total investments of approximately 450 million yuan and 370 million yuan respectively. ST Doushen plans to carry out a debt restructuring, expecting a gain of about 56.7021 million yuan. Sanyou Chemical's controlling subsidiary intends to purchase a 31% stake in Sanyou New Materials, raising its shareholding to 51%. Tianjin Motor Dies' acquisition of a 60% stake in Dongshi Automotive Technology Group Co., Ltd. has received a decision of no further review from antitrust authorities. Dongjian Technology has received a refund of U.S. tariffs and interest totaling 3.3927 million U.S. dollars. The chairman of Haohua Energy proposed an interim dividend for 2026 of no less than 20% of half-year net profit. Pu Lian Software, Beiken Energy, and Xintian Technology all remain suspended from trading due to planned changes in control. Jinpu Titanium's wholly-owned subsidiary Xuzhou Titanium Dioxide has temporarily halted production for rectification due to excessive fluoride in discharged wastewater. Jiuzhou Yigui plans to invest no more than 630 million yuan in an advanced semiconductor wafer laser stealth dicing industrialization project. Daimei Co. intends to acquire a 100% stake in Rongming Technology. The actual controller of Yuxin Co. proposed an interim dividend of no less than 30% of first-half net profit. Sunway Biotech plans to acquire a partial stake in Biling Biotech for 10 million yuan. Leon Technology plans to raise no more than 255 million yuan through a private placement to invest in projects such as an artificial intelligence computing power resource pool. Hongfuhan's liquid cooling business orders are progressing steadily. Dongfang New Energy, which hit two consecutive daily limit-up moves, announced that it is not involved in businesses related to tourism, sponge cities, or Beijing urban planning. ST Energy Conservation will have its delisting risk warning removed starting July 30. On the earnings front, Kingsoft Office expects first-half net profit to increase by 209.98% to 263.89% year-on-year; Zhonghong Medical expects a surge of 2,338% to 3,557%; Hesheng New Materials reported net profit of 136 million yuan, up 40.42%; Juchen Semiconductor expects a 156.07% increase; Haibosichuang expects growth of 96.3% to 121.63%; Sanwei Xin'an narrowed its losses year-on-year; Tapai Group's net profit was 219 million yuan, down 49.6%; Sifang Technology's net profit was 86.2916 million yuan, up 24.48%; Power Diamond's net profit was 90.0816 million yuan, up 247.61%; Universal Scientific Industrial's net profit rose 28.85%; and Bio-Thera Solutions expects a loss of 230 million to 290 million yuan. Regarding shareholding changes, BOE Technology's controlling shareholder plans to increase holdings by 500 million to 1 billion yuan; Zhongji Innolight's chairman proposed a buyback of 4 billion to 8 billion yuan; Hailiang Co.'s controlling shareholder plans to increase holdings by 600 million to 1 billion yuan; Chongqing Port plans a buyback of 20 million to 30 million yuan and its indirect controlling shareholder plans to increase holdings; Guocheng Mining plans a buyback of 300 million to 600 million yuan; Pulite's actual controller committed not to reduce holdings within one year; Wondfo Biotech's controlling shareholder plans to increase holdings by 20 million to 40 million yuan; Guanshi Technology obtained special buyback financing support of no more than 27 million yuan; a controlling subsidiary of Yandong Micro's controlling shareholder plans to increase holdings by 150 million to 300 million yuan; Kedali plans a buyback of 150 million to 300 million yuan; Vanchip plans a buyback of 80 million to 100 million yuan; Shuangyi Technology plans a buyback of 30 million to 50 million yuan; Dong Yi Ri Sheng's shareholder Tianjin Chen has not reduced holdings and terminated the reduction plan early; Zhongsheng Gaoke's controlling shareholder plans to increase holdings by no less than 30 million yuan; and ST Tianjian's controlling shareholder and shareholders plan to transfer a total of 14.77% of the company's shares through an agreement. On the major contract front, Shenghui Integration won a bid for a major engineering project worth 858 million yuan, and China State Construction signed a contract for the North Kabd Wastewater Treatment Plant and supporting projects in Kuwait, with a contract value of approximately 22.4 billion yuan.

The coal mining concept strengthened in trading, with the sector rising 3.07%. Among related constituent stocks, Dayou Energy rose 10.00%, Zhengzhou Coal Industry rose 9.06%, Liaoning Energy rose 8.28%, China Coal Energy rose 6.78%, and Haohua Energy rose 4.96%. A research report from Sealand Securities pointed out that in June 2026, raw coal output fell 9.7% year-on-year, the largest drop in a decade, with significant supply-side contraction. Over the same period, thermal coal and primary coking coal prices rose 39.93% and 71.93% year-on-year respectively, with the supply-demand gap continuing to widen and the coal price uptrend clearly established. A research report from Shenwan Hongyuan Securities noted that from January to May 2026, thermal power generation increased 3.4% year-on-year, expected to drive total coal consumption up 3.0% for the full year, while the supply side is tightening due to the window for capacity reduction and import contraction. The coal price center is likely to enter a long-term upward channel of fluctuating increases.

China's A-share market saw mixed performance on July 6, with the Shanghai Composite Index edging down 0.06 percent to 4,041.24 points and the ChiNext Index falling 1.77 percent. Combined turnover on the two exchanges reached approximately 3.11 trillion yuan. The coal sector rallied in the afternoon, with Haohua Energy hitting its daily limit at the close, Xinji Energy surging nearly 9 percent, and Shaanxi Coal Industry climbing over 7 percent. The pharmaceutical sector was strong, with innovative drug concepts standing out. Shouyao Holdings briefly surged by the 20 percent daily limit, and Gan & Lee Pharmaceuticals hit its daily limit. The PCB concept slumped sharply, with Sinoma Science & Technology, China Jushi, and Haohua Science & Technology all hitting their daily limit down. Reports indicate that Nvidia's next-generation Kyber NVL144 rack architecture may face delivery delays of more than 12 months due to manufacturing process challenges with PCB mid-boards, pushing mass production back to 2028.