Asia Viewpoint: by Ma Dongwei

On Jan 30, China Shenhua Energy (CSEC) estimated in its preliminary performance report for year 2023 that net profits were in the range of Yuan 57.8 to 60.8 billion, a fall of Yuan 8.8 to 11.8 from the previous year or 12.6 to 16.9%.

The decline in profits was attributed to a drop in the average selling price of coal, an increase in rail maintenance costs and other costs, and a rise in tax expenses.

CSEC was established in November 2004 and is a listed company under the CHN Energy Investment Group. The company痴 main businesses include coal, power production and sales, rail transportation, marine transportation and olefins derived from coal.