Guanghui Energy H1 Revenue RMB14.24B Down 9.57%, Net Profit RMB1.28B Up 49.81%

Guanghui Energy disclosed its 2026 interim report on the evening of August 20. During the reporting period, the company achieved operating revenue of RMB14.24 billion, down 9.57% year on year; net profit attributable to shareholders of the listed company was RMB1.28 billion, up 49.81%; net profit excluding non-recurring gains and losses was RMB1.33 billion, up 59.67%. Basic earnings per share stood at RMB0.20, up 53.61%, and the weighted average return on equity was 5.15%, up 2.03 percentage points from the same period in 2025.

Coal remained the company's largest revenue segment, generating RMB8.05 billion in the first half. During the period, raw coal output reached 19.49 million tonnes and total coal sales volume was 24.79 million tonnes. The company adopted a production-based-on-sales strategy, shifting coal sales from volume optimization to price optimization while accelerating inventory destocking. Its coal mines are located in eastern Xinjiang, and the company uses the Naoliu Highway, Hongnao Railway, and Liugou logistics transfer hub, combining rail and road transport to lower transportation and warehousing costs.

In the coal chemical segment, the company carried out scheduled annual overhauls and achieved total product output of 1.29 million tonnes, up 14.18% year on year. Ethylene glycol output reached 139,300 tonnes, up 244.19%; carbon dioxide output was 50,200 tonnes, up 172.24%; coal chemical by-products totaled 244,300 tonnes, up 30.23%. The growth in ethylene glycol production and sales was mainly driven by the continued capacity release of the 400,000-tonne-per-year ethylene glycol project utilizing waste gas comprehensive utilization. Coal chemical products generated revenue of RMB2.38 billion in the first half.

In the natural gas segment, the company optimized equipment configuration through gasifier replacement, improving production unit stability and achieving LNG output of 364.17 million cubic meters, up 5.68% year on year. For purchased gas operations, the company refined its business strategy, moderately scaled down operations, and coordinated long-term agreements and spot purchases and sales with a profit-oriented approach. During the reporting period, total natural gas sales reached 1.17 billion cubic meters, generating revenue of RMB3.48 billion.

From an overall financial perspective, the company's total profit in the first half was RMB1.55 billion, up 51.6% year on year; net cash flow from operating activities was RMB2.81 billion, roughly flat year on year.

Regarding key projects, supporting facilities for the Malang coal mine construction project are largely complete, with final acceptance preparations underway. In Kazakhstan, four new wells at the Zaysan oil and gas development project, including S-310, began drilling simultaneously on June 25 and have all entered the third drilling stage. The first phase of the high-value utilization upgrade project for oil-rich coal is about 30% complete in on-site construction. The feasibility study report for the No. 2 berth of the LNG receiving station at Lusi Port, Nantong, Jiangsu, has been completed. The basic design for the 15-million-tonne-per-year coal grading and utilization demonstration project is 95% complete overall.