Affected by the "coal hyper-crazy" that has been hit hard by the supervision and the continuous plunge of commodities, on October 28, the A-share cycle sector fell, and coal stocks staged a wave of stoppages.

　　On October 28, as of the publication of the Red Star Capital Bureau, Yanzhou Coal Industry (600188.SH), Pingmei Group (601666.SH), Lanhua Science and Technology (600123.SH), Yunmei Energy (600792.SH), etc. Coal (002128.SZ), Shanxi Coal International (600546.SH), Jinkong Coal (601001.SH), Huayang Stock (600348.SH), Anyuan Coal (600397.SH) and other stocks fell in the intraday limit Or approaching the limit.

　　However, affected by the sequelae of the soaring coal prices, coal companies have generally achieved substantial growth in their performance in the third quarter report, while the third quarter reports of thermal power companies that need to purchase high-priced coal to generate electricity are hardly to look at.

　　The performance of coal stocks surged 62 times

　　As of October 28, among the coal companies that have announced the third quarterly report for 2021, most coal companies have achieved substantial growth in their net profits attributable to their parent companies.

The high coal prices have supported the huge profits of coal companies, and even coal companies with performance growth in the third quarter of several times have emerged.

　　Coal giant China Coal Energy (601898.SH) achieved revenue of 161.739 billion yuan in the first three quarters, an increase of 61.3% year-on-year; net profit was about 11.856 billion yuan, an increase of 185.4% year-on-year.

Shaanxi Coal Industry (601225.SZ) achieved revenue of 121.31 billion yuan in the first three quarters, a year-on-year increase of 89.02%; realized a net profit of 14.257 billion yuan, a year-on-year increase of 24.27%.

　　The net profit of some coal companies increased several times year-on-year.

Among them, Shaanxi Black Cat (601015.SH) achieved revenue of 14.116 billion yuan in the first three quarters, a year-on-year increase of 142.55%; realized a net profit of 1.224 billion yuan, a sharp increase of 6262.04% year-on-year, an increase of over 62 times that can be called "bright blindness". "eyeball.

The company said that it was mainly due to the increase in product sales, the increase in sales prices, the year-on-year increase in gross profit, and the year-on-year increase in operating investment income from Jianxin Coal Chemical.

　　Heilongjiang coal company Baotailong (601011.SH) also increased its performance by 8 times. The company said the main reason was that the sales of coke and moth coal increased year-on-year, and the unit price of coke sales increased year-on-year.

　　In the first three quarters, Lanhua Tech achieved revenue of 8.811 billion yuan, a year-on-year increase of 84.59%; net profit was 1.407 billion yuan, a year-on-year increase of 474.61%.

In addition, the first three quarters of Shanxi Coking, Pingdingshan Coal, and Open-Pit Coal have increased their net profits by 98.9%, 69.3%, and 39.59% year-on-year, respectively.

　　Many coal companies have experienced a decline in production and sales, but their net profits have soared.

For example, in the first three quarters of Yanzhou Coal, the production and sales of commercial coal decreased by 14.07% and 31.67% year-on-year, respectively. However, due to the high coal market price operation, net profit is expected to soar to 11.5 billion yuan, an increase of 64.78% year-on-year.

　　"Have a loss for a time"

　　The performance of thermal power stocks is terrible

　　Compared with the sharp increase in the net profit of coal companies, thermal power companies that need to purchase coal for power generation have a difficult time, and many thermal power plants are even caught in the embarrassment of "making a loss of one degree", and the performance of the third quarter report is almost "cry in the toilet."

　　According to incomplete statistics from the Red Star Capital Bureau, as of October 28, more than 20 thermal power companies have released or announced the third quarterly report.

The net profit of most of the companies attributed to the parent company fell year-on-year, and some thermal power companies suffered serious losses, and there were even companies with losses exceeding 1 billion yuan.

　　The third quarterly report of Huaneng Power International (600011.SH), one of the leading thermal power generation companies, showed that the company achieved operating income of 145.05 billion yuan in the first three quarters, a year-on-year increase of 19%; in the first three quarters, it achieved a net profit of 788 million yuan, a plunge of 91.42% year-on-year.

Looking at the third quarter alone, the company achieved operating income of 49.89 billion yuan, a year-on-year increase of 16.82%; net profit was a loss of 3.499 billion yuan, compared with a profit of 3.396 billion yuan in the same period last year.

　　Datang Power (601991.SH) estimates that the company's net profit for the first three quarters will be between RMB 0 million and RMB 53.4 million, a year-on-year decrease of 98% to 100%.

In the first half of the year, the company achieved a net profit of 1.636 billion yuan, which also means that the company will almost lose all its profits in the first half in the third quarter.

The company mentioned the reason for the loss in the third quarter: rising coal prices caused the company's operating costs to rise sharply.

　　With high coal prices, many thermal power companies also suffered losses in the third quarter.

The third quarter report of Jiantou Energy (000600.SZ) showed that the company's main operating income in the first three quarters was 10.727 billion yuan, an increase of 0.35% year-on-year; net profit was a loss of 740 million yuan.

Among them, a single quarter loss in the third quarter was 881 million yuan.

　　Jingneng Power (600578.SH) achieved 15.292 billion yuan in revenue in the first three quarters, an increase of 6.84% year-on-year; net profit was a loss of 1.608 billion yuan.

Among them, the company's third quarter net profit loss was 1.308 billion yuan, a year-on-year decrease of 398.39%.

　　The reasons for the losses of these thermal power companies mostly point to the sharp rise in coal prices.

Shanghai Electric Power (600021.SH) pointed out in the performance reduction announcement that coal prices will continue to rise sharply in 2021, especially since the middle of the year, coal prices have continued to soar and reached historical highs, resulting in general losses in the company's coal-fired power plants.

From January to September, the company's unit price of coal converted to standard coal was about 1,050 yuan/ton (tax included), a year-on-year increase of about 45%.

Among them, the price of coal converted to standard coal in the third quarter exceeded 1,200 yuan/ton (tax included), a year-on-year increase of more than 70%.

　　Curb coal prices

　　The National Development and Reform Commission issued 16 articles in 9 days

　　"Coal is crazy" coming to an end

　　Since October 19, the National Development and Reform Commission has continuously issued documents to curb coal prices, including the promotion of coal production and supply, and the launch of evaluation and compliance review of coal and other energy price index behaviors to curb speculation.

As of October 27, the National Development and Reform Commission has issued a total of 16 articles for 9 consecutive days.

At the same time, key coal companies in Shanxi, Shaanxi, and Inner Mongolia have taken concrete actions to stabilize prices, and the four major coal groups have pledged to stabilize prices and guarantee supply.

　　At the same time, coal production has increased.

According to statistics from the National Development and Reform Commission, the country’s daily coal output recently exceeded 11.5 million tons, an increase of more than 1.2 million tons from mid-September.

In the fourth quarter, under the premise of ensuring safety, all coal mines should organize production safely and rationally at full load, and strive to achieve a daily output of more than 12 million tons of coal.

　　Recently, the rapid rise in coal prices has been curbed.

Public data shows that the price of pit coal in the main coal-producing areas has dropped significantly.

Recently, many coal mines in Datong, Shuozhou, Mengdong, and Ordos took the initiative to lower coal pit sales prices, all of which were lower than 100 yuan/ton, with the highest price cut reaching 360 yuan/ton.

　　Today, the "coal crazy" has come to an end.

The main contract of thermal coal futures reached 1982 yuan/ton on October 19, and then fell sharply for 7 consecutive trading days. On October 28, it fell 11.49% again, quoting 1051.8 yuan/ton, which was close to a cut in the higher peak period.

Chengdu Commercial Daily-Red Star News Correspondent Li Weiming