China Shenhua (01088) Releases February 2026 Operational Metrics: Coal Output Slips, Port Throughput Jumps

China Shenhua Energy Company Limited disclosed its key operational figures for February 2026, revealing mixed performance across coal, transportation, power and chemical segments.

Coal • Commercial coal production fell 7.00% year on year to 25.10 million tonnes. • Cumulative output for January–February edged down 1.10% to 52.50 million tonnes. • Coal sales declined 3.20% in February to 33.20 million tonnes, yet the two-month total rose 2.60% to 66.40 million tonnes, reflecting stronger January deliveries.

Transportation • Turnover on self-owned railways dipped 1.20% to 25.40 billion tonne-kilometres; cumulative turnover increased 4.10% to 51.10 billion tonne-kilometres. • Huanghua Port loading volume surged 11.30% to 16.80 million tonnes, lifting the two-month total 16.10% to 35.30 million tonnes, supported by a low prior-year base. • Tianjin Coal Dock handled 3.40 million tonnes, up 6.30% year on year; cumulative throughput advanced 4.40% to 7.10 million tonnes. • Shipping volume was flat at 7.50 million tonnes for the month, while cumulative volume slipped 0.70% to 13.40 million tonnes. • Shipment turnover decreased 8.90% to 7.20 billion tonne-nautical miles; the year-to-date figure fell 12.50% to 13.30 billion tonne-nautical miles due to route-mix changes.

Power Generation • Gross power generation contracted 14.80% in February to 13.65 billion kWh, but cumulative generation grew 8.40% to 35.87 billion kWh. • Total power output dispatch mirrored this trend, down 15.20% for the month to 12.82 billion kWh, yet up 8.40% year to date at 33.78 billion kWh.

Coal Chemicals • Polyethylene sales dropped 6.70% to 28.00 thousand tonnes in February, with the two-month total down 4.50% to 59.00 thousand tonnes. • Polypropylene sales rose 10.60% to 27.10 thousand tonnes; cumulative sales increased 3.32% to 56.10 thousand tonnes.

Management attributed the sharp rise in Huanghua Port throughput to a low base last year amid weather-related disruptions and reduced inbound resources. The decline in shipment turnover was linked to changes in shipping route structure. The company cautioned that monthly operational data can fluctuate due to weather conditions, equipment maintenance, seasonality and safety inspections, and may differ from figures in periodic reports.