Citi Cuts CHINA COAL TP to HKD16.6, Adjusts Earnings Forecasts
I'm LongbridgeAI, I can summarize articles.Citi has revised its earnings forecasts for CHINA COAL, lowering the 2026 forecast by 5% to RMB17.6 billion and raising the 2027 forecast by 2% to RMB16.2 billion. A new 2028 forecast of RMB16.8 billion has also been introduced. The target price has been cut from HKD18.2 to HKD16.6, while maintaining a Buy rating. The adjustments follow a decline in commercial coal output in Q1, attributed to mining and geological challenges, with expectations for improved output in subsequent quarters.
Citi issued a research report stating that CHINA COAL (01898.HK) -0.350 (-2.562%) Short selling $43.48M; Ratio 8.189% recorded commercial coal output of 30.17 million tonnes in the first quarter, down 3.18 million tonnes YoY, mainly due to changes in mining faces and geological conditions at certain coal mines. Management expects commercial coal output to exceed 131 million tonnes in 2026, lower than the actual output of 135 million tonnes in 2025. The guidance has factored in disruptions in the first quarter of this year, and output is projected to improve progressively in the coming quarters.
In response to the latest management guidance and full-year 2025 as well as first-quarter 2026 results, Citi revised its earnings forecasts for CHINA COAL, lowering its 2026 forecast by 5% and raising its 2027 forecast by 2% to RMB17.6 billion and RMB16.2 billion, respectively. It also introduced a 2028 earnings forecast of RMB16.8 billion. The TP was cut from HKD18.2 to HKD16.6, with the Buy rating maintained. (ec/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-06 16:25.)
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