On May 29, Yanzhou Coal Energy rose 3.11% in regular trading, reaching HK$14.59 per share, with trading volume of approximately HK$68 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 comprehensive coal mine safety inspections. The number of suspended coking coal mines in Shanxi has risen to 109, representing total capacity of 122 million tons. Shaanxi and other provinces have simultaneously followed with safety inspection deployments, with heightened regulatory pressure expected to suppress domestic coal production upside elasticity.

Combined with the approaching peak summer demand season and rising import coal costs, supply-demand dynamics are anticipated to tighten further. The company previously stated it expects full-year thermal coal prices to be stable to rising, with the price center higher than the prior year. National raw coal output for January through April totaled 1.58 billion tons, down 0.1% year-over-year, indicating domestic production remains constrained.

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