China Shenhua Energy Company, a listed subsidiary of Shenhua Group - the largest coal company in China, has announced that it expects to register a net profit of RMB 24.3 billion ($3.65 billion) for the first half of the current year, up 147 percent compared to the net profit of RMB 9.828 billion recorded in the corresponding period last year.
China Shenhua Energy stated that supply-side reform in the coal industry contributed to the improvement in its performance. In the first half this year, China’s coal prices rose significantly compared to the first half last year, exerting a positive impact on the company’s profitability.