Yanzhou Coal Mining Set to benefit from domestic shortage
China Electricity Council said this year could be the most tightened one for the Chinese coal market since 2016.
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China Electricity Council said China's north east region may be facing a 37 million tons thermal coal shortage, and this year could be the most tightened one for the coal market since 2016.
The company said last month that it plans to increase its 2020-2024 cash dividend ratio, with total cash dividends in each fiscal year accounting for approximately 50% of its net profit for the year after deducting statutory reserves, and the cash dividend per share shall not be less than 0.50 yuan (nearly 10% dividend yield at current share price level).
From a technical point of view, Yanzhou Coal Mining (1171.hk) is gathering more upside momentum as shown on the daily chart. It has broken above a bearish channel drawn from July, while the 20-day moving average has crossed above the 50-day one. The level at $5.70 might be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $6.55 and $7.00 respectively.
Source: GAIN Capital, TradingView
Yanzhou Coal Mining (1171.hk), a major Chinese coal producer, reported last month that 3Q saleable coal production increased 20.0% on year to 26.86 million tons, up from 8.8% in 2Q and 4.4% in 1Q. It is worth to notice that sales volume rose 26.1% to 36.19 million tons, the third consecutive quarter that sales growth has exceeded 20.0%, suggesting robust demand.
The company said last month that it plans to increase its 2020-2024 cash dividend ratio, with total cash dividends in each fiscal year accounting for approximately 50% of its net profit for the year after deducting statutory reserves, and the cash dividend per share shall not be less than 0.50 yuan (nearly 10% dividend yield at current share price level).
From a technical point of view, Yanzhou Coal Mining (1171.hk) is gathering more upside momentum as shown on the daily chart. It has broken above a bearish channel drawn from July, while the 20-day moving average has crossed above the 50-day one. The level at $5.70 might be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $6.55 and $7.00 respectively.
Source: GAIN Capital, TradingView
China Electricity Council said China's north east region may be facing a 37 million tons thermal coal shortage, and this year could be the most tightened one for the coal market since 2016.
The company said last month that it plans to increase its 2020-2024 cash dividend ratio, with total cash dividends in each fiscal year accounting for approximately 50% of its net profit for the year after deducting statutory reserves, and the cash dividend per share shall not be less than 0.50 yuan (nearly 10% dividend yield at current share price level).
From a technical point of view, Yanzhou Coal Mining (1171.hk) is gathering more upside momentum as shown on the daily chart. It has broken above a bearish channel drawn from July, while the 20-day moving average has crossed above the 50-day one. The level at $5.70 might be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $6.55 and $7.00 respectively.
Source: GAIN Capital, TradingView
Yanzhou Coal Mining (1171.hk), a major Chinese coal producer, reported last month that 3Q saleable coal production increased 20.0% on year to 26.86 million tons, up from 8.8% in 2Q and 4.4% in 1Q. It is worth to notice that sales volume rose 26.1% to 36.19 million tons, the third consecutive quarter that sales growth has exceeded 20.0%, suggesting robust demand.
The company said last month that it plans to increase its 2020-2024 cash dividend ratio, with total cash dividends in each fiscal year accounting for approximately 50% of its net profit for the year after deducting statutory reserves, and the cash dividend per share shall not be less than 0.50 yuan (nearly 10% dividend yield at current share price level).
From a technical point of view, Yanzhou Coal Mining (1171.hk) is gathering more upside momentum as shown on the daily chart. It has broken above a bearish channel drawn from July, while the 20-day moving average has crossed above the 50-day one. The level at $5.70 might be considered as the nearest support, while the 1st and 2nd resistance are expected to be located at $6.55 and $7.00 respectively.
Source: GAIN Capital, TradingView
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