UBS: Rated China Shenhua Energy (01088) as "Neutral" with a target price of HK$48.
UBS pointed out that after the group acquired energy assets in China and Western regions, they significantly raised their operating targets for 2026, including a 55% increase in commercial coal production target to 513.4 million tons, a 42% increase in coal sales to 618.1 million tons, and a 29% increase in electricity generation to 288.1 billion kilowatt-hours.
UBS released a research report stating that China Shenhua Energy (01088) announced its first quarter performance for 2026 after the market closed last Friday (24th). The net profit attributable to shareholders during the period was 11.885 billion RMB, a decrease of 11.1% year-on-year, which met the bank's and market's expectations for the full-year profit forecast for 2026 of 22%. The bank maintained a "Neutral" rating on China Shenhua Energy with a target price of 48 Hong Kong dollars.
UBS pointed out that after the group acquired energy assets in China and the western region, it significantly raised its operating targets for 2026. The commercial coal production target was increased by 55% to 513.4 million tons, coal sales volume was raised by 42% to 618.1 million tons, and electricity generation was increased by 29% to 288.1 billion kilowatt-hours. The capital expenditure plan for 2026 was also raised from 38 billion RMB to 56 billion RMB.
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