China Shenhua Revenue Reaches 106.693 Billion Yuan in Third Quarter, Up 10.9%
Key Facts
China Shenhua Energy reported revenue of 106.693 billion yuan in the third quarter of 2026, up 10.9% from the restated year-earlier period, according to its official report. Simply Wall St estimated quarterly revenue at about 107 billion yuan and said it exceeded analyst expectations by 5.0%. The two figures reflect different bases: the detailed figure in the official report and the estimate the research platform used to compare results with expectations. Profit attributable to the company's shareholders was 16.263 billion yuan, up 2.6% year over year. For the nine months through September, revenue was 296.031 billion yuan, up 9.0% from the restated comparison period.
Nine-month revenue from coal, coal chemicals, power generation and other operations increased, the report said, but revenue growth came alongside higher input costs. Cost of sales rose 10.5% to 209.285 billion yuan, with the company citing higher costs for purchased coal and coal used in power generation. Net cash generated from operating activities totaled 92.7 billion yuan in the first nine months, up 23.1% from the restated comparison period. The figures put growth in sales and profit alongside an expansion in cash flow, while cost of sales shows simultaneous pressure on expenses.
In coal, total sales rose 0.1% to 460.6 million tonnes in the first nine months, while sales of self-produced coal fell 3.1% to 376.1 million tonnes. The average selling price of coal before tax rose 7.4% to 448 yuan per tonne, compared with 417 yuan in the restated year-earlier period. Coal segment revenue grew 6.6% to 211.140 billion yuan, but its gross profit margin fell 0.9 percentage points to 25.1%. The combination of a higher selling price and lower self-produced coal volumes shows the segment's performance moving in different directions, while higher revenue did not prevent a decline in its margin.
Coal chemicals was the fastest-growing segment by revenue during the period, rising 50% to 23.739 billion yuan. Segment gross profit climbed to 4.920 billion yuan, compared with 556 million yuan in the restated comparison period. The company attributed the improvement to higher sales volumes and prices, as well as a lower comparison base after its coal-to-liquids facilities were shut for upgrades in the year-earlier period. In the power segment, the average cost of electricity supplied, including heat sales, was 335.6 yuan per megawatt-hour, up 8.3% from 309.9 yuan. The company said higher coal purchase prices were the main reason for the increase in electricity costs, linking some of the cost pressure to changes in the fuel used for generation.
On the industrial demand side, China's manufacturing purchasing managers' index stood at 50.1% in September, up 0.3 percentage points from August and back in expansion territory, according to the National Bureau of Statistics. On the supply side, raw coal output was 390 million tonnes in September, down 6.8% year over year, with the pace of decline narrowing by 0.9 percentage points from August. These data provide context for reading the results of a company spanning coal, power and chemicals, but do not by themselves determine the path of its future revenue. The October manufacturing index reading is scheduled for release on October 31, according to the timeline in the available information. CSUAY closed at $20.49 on October 26, according to EL7 data.