China Shenhua Energy Company Limited (01088) released its third quarterly results for 2025, reflecting a revenue of RMB213,151 million for the first nine months, down 16.6% year-on-year after restatement. Profit attributable to equity holders of the company stood at RMB41,366 million, marking a decrease of 13.8% year-on-year. The company’s total assets reached RMB646,427 million as of 30 September 2025, while equity attributable to equity holders of the company amounted to RMB419,104 million.
According to the announcement, lower sales volume and average selling prices in the coal segment contributed to the decline in revenue. The power segment also experienced a decrease in power output dispatch and tariff, leading to lower revenue for the period. Unit production costs of self-produced coal fell by 3.1% year-on-year, primarily due to lower material consumption and personnel expenses.
The announcement shows that China Shenhua’s coal segment reported a revenue of RMB159,099 million for the first nine months, down 21.1% year-on-year. Meanwhile, its power segment maintained revenue of RMB65,179 million, 9.0% lower compared with the same period last year. Transportation and coal chemical lines registered mixed performances, with railway, port, shipping, and coal chemical businesses posting varying degrees of changes in revenue and cost. Net cash generated from operating activities totaled RMB65,253 million, reflecting a 19.9% year-on-year decrease, attributed primarily to declines in coal and power-related businesses.
During the reporting period, China Shenhua completed the acquisition of Hangjin Energy, which was included in the consolidated financial statements retrospectively due to common control considerations. The company’s management attributed part of the changes in operating and financial indicators to fluctuating coal and power market conditions, alongside adjustments in production, procurement, and sales. Cash flow changes also stemmed from the redemption of structured deposit products, variations in time deposits, and payment of final dividends for 2024.