<div id="readability-page-1"><div>YANKUANG ENERGY (01171.HK) +1.020 (+6.684%) Short selling $169.96M; Ratio 25.074% opened down 1.4% this morning (29th) before reversing course in early trading. It is now quoted at HKD16.27, up 6.62%, with 50.4027 million shares traded, involving HKD805 million.M Stanley said in a research report that YANKUANG ENERGY's 1Q26 net profit rose 42% YoY to about RMB4 billion, in line with the brokers expectations, mainly benefiting from RMB3.3 billion in investment income from the equity transfer of the Xintai coal mine. Excluding one-off items, recurring profit from continuing operations fell 61% YoY to RMB1.1 billion, below expectations, mainly dragged by a 9% YoY increase in self-produced coal production costs, a 2% YoY decline in coal selling prices, and foreign exchange losses recorded in the first quarter. The rise in costs mainly reflected a 6% YoY drop in output in the first quarter, as well as higher diesel prices in the Australian operations due to tensions in the Middle East, which pushed up costs.M Stanley expects core earnings to improve in the second quarter, as coal chemical prices have remained at high levels since late March amid Middle East tensions, indicating better earnings contribution during the quarter. Meanwhile, domestic coal prices have risen since mid-March during the traditional off-season, supported by improving local demand. Power plants have been restocking ahead of the summer peak electricity consumption season, which will also support prices, signaling a recovery in second-quarter earnings. The broker maintained its Overweight rating on YANKUANG ENERGY and kept its TP at HKD21.9.BofAS noted in its report that YANKUANG ENERGYs first-quarter net profit of RMB4 billion, up 42% YoY, beat both the brokers and market expectations, accounting for 33% of its full-year forecast. The earnings beat was mainly due to RMB3 billion in investment income, including RMB2.8 billion from the disposal of Xintai coal mine assets. The gain also formed the basis for dividend distribution. However, recurring profit from continuing operations fell 61% YoY to RMB1 billion, mainly due to intensifying cost pressures. Although revenue edged up 2% YoY to RMB35 billion, gross profit fell 21% to RMB7 billion, with gross margin narrowing 6 ppts YoY to 21%, which the broker attributed mainly to the coal business.BofAS estimated that total sales costs of self-produced coal rose 9% YoY, while sales volume increased only 1% YoY. By region, sales costs in China and Australia rose 4% and 18% YoY respectively; sales volumes rose 4% and fell 4% YoY, while production declined 5% and 9% YoY respectively. Unit sales costs in China were broadly stable YoY, while unit costs in Australia increased by more than RMB100 per tonne or 23% YoY, mainly due to a surge in diesel costs. The average selling price of self-produced coal was RMB517 per tonne, down 2% YoY. The average price in China fell 1% YoY, in line with benchmark index trends, while the average price in Australia dropped 2% YoY, lagging the rebound in seaborne spot prices. The broker believes that, given YANKUANG ENERGYs pricing mechanism, it is likely to catch up with the upward price trend in the second quarter. It maintained its Buy rating on YANKUANG ENERGY H shares with a TP of HKD17; the TP for YANKUANG ENERGY (600188 SH) A shares is RMB24. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-28 16:25.)</div>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div>

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YANKUANG ENERGYshares rose over 6% following a positive earnings report, with a net profit of RMB4 billion for Q1 2026, up 42% YoY. Despite a 61% drop in recurring profit due to rising costs and lower coal prices, analysts from M Stanley and BofAS maintained favorable ratings, citing potential recovery in earnings due to rising coal prices and improved demand. M Stanley set a target price of HKD21.9, while BofAS set a target of HKD17 for H shares and RMB24 for A shares.

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