On July 22, China Coal Energy (01898.HK) rose 3.22% in regular trading, trading at HKD 10.87/share, with turnover of HKD 95.53 million. The stock continued its upward momentum following the prior session's strong rally.
On the news front, the company's controlling shareholder, China National Coal Group, announced a plan to increase its holdings in China Coal Energy's A-shares by no less than RMB 50 million and no more than RMB 100 million within 12 months through centralized bidding and block trades, with the total increase not exceeding 2% of total share capital. As of the announcement date, China National Coal Group directly and indirectly held approximately 58.44% of the company's shares. The buyback aims to boost investor confidence and stabilize the share price.
Additionally, the company indicated it expects July port thermal coal prices (5500 kcal) to range between RMB 795-835 per tonne, with a front-low-then-stable trend. Industry analysts noted that supply constraints remain in place due to tightened safety supervision and geological challenges, supporting coal price fundamentals heading into the peak summer demand season.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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