On May 27, Yanzhou Coal Energy rose 3.11% in regular trading, reaching HK$14.26 per share, with trading volume of HK$173 million.

On the news front, a gas explosion at Shanxi Tongzhou Group Liushenyu Coal Mine on May 22 caused significant casualties, prompting Shanxi Province to launch a province-wide coal mine safety inspection. The number of suspended coking coal mines in Shanxi has risen to 109, representing a total capacity of 122 million tons. Institutions believe the intensified safety supervision will constrain domestic coal production upside elasticity. Combined with the approaching summer peak demand season and rising import coal costs, coal prices are expected to accelerate upward. Huatai Securities reiterated Yanzhou Coal Energy as its top pick in the coal sector.

Additionally, the company stated on May 25 that it expects thermal coal prices to remain stable with an upward tendency for the full year, with the price center higher than the previous year. It noted domestic production is trending flat while the advantage of import supplementation is weakening, with national raw coal output of 1.58 billion tons in the first four months, down 0.1% year-over-year.

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