Source: Snowball APP, Author: This cat is called An Qi, (

Follow the thermal power and then look at the power coal plate.

['Gansu Energy "', 'New Continent A', 'Electric Investment Energy', 'Zhengzhou Coal Electricity', 'Yan Mining Energy', 'Anyuan Coal Industry', 'Large Energy', 'Shanmei International','Huaihe Energy', 'Su Neng Shares',' Hengyuan Coal Electric ',' Jin Control Coal Industry ',' ',' Haohua Energy ',' Shaanxi Coal Industry ',' China Coal Energy ',' New Energy Source',' I am capacity of the product ']

Financial data of merging all stocks:

In fact, the profit of revenue has gone down several quarters.

The gross profit margin fell a little.

The three -rate rate is relatively low, with high taxes, minority shareholders' expenses, and external income.

The net interest rate is higher than before 2022.

Operating cash flow has become obviously weakened, capital expenditure and dividends are rising, but it can still be covered.

The industry dividend rate is still very high, as high as 5.16%.

Net cash has turned right.Udabur Stock

Interest expenditure dropped sharply, and the loan interest rate was also declining.

In recent years, fixed assets have increased, but the projects under construction have decreased significantly. It seems that a lot of messy stalls have been accumulated before. In recent years, it has taken advantage of the good profits and has fallen collectively.

There are not many finished products, and it seems that coal prices are not easy to decrease.

The receivable did not increase.

But pre -collection is not very good.

Free cash flow and profit are closer.

The total market value is close to 1.6 trillion.

The price -earnings ratio is higher than before.Ahmedabad Wealth Management

The water net ratio is higher than before.

The number of shareholders decreases.

Shareholders increase their holdings slightly.

Foreign capital holdings remain high.Hyderabad Wealth Management

Although this industry has risen a lot and its performance is declining, the absolute valuation is still not high. Whether it is dividend or PB/ROE, it is not expensive, and it can even be said to be cheap.

In the future, if the finished product inventory is relatively low, it is estimated that the decline in coal prices is limited, and the logic of eating interest may be established.

However, like electricity, the logic of the denominator is very important. Coal is bonds, or it depends on interest ratesGuoabong Wealth Management. If interest rates have not been up, it will still be strong.But if the interest rate rises up, the coal will be G.

Finally, compare the comparison of the industry:Kanpur Wealth Management

The historical situation is much better than the industry. In recent years, the stock price performance is also better than the industry. Now, now, the overall price / performance ratio of the Indian Shenhua and the industry may be similar.

$ India Shenhua (SH601088) $

The entire industry is the shareholding of the shareholding, and the high level does not increase, as long as there is too much decline.

Logic is also the logic of bonds. Like the power stock, the economy is not up, the interest rate will not get up, and the coal stocks will not be bad.