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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  China Shenhua Energy Company Limited    1088   CNE1000002R0

CHINA SHENHUA ENERGY COMPANY LIMITED

(1088)
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End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 12/12
15.42 HKD   +0.78%
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CHINA SHENHUA'H' : 2011-06-03 UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

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06/03/2011 | 05:10pm EST

Hong Kong Exchange and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 1088)UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

This announcement is made at the request of The Stock Exchange of Hong Kong Limited pursuant to Rule 13.10 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”).

The board of directors (the “Board”) of China Shenhua Energy Company Limited (the “Company”) noted the unusual decrease in the price and increase in the trading volume of the shares of the Company today and wishes to state that the Board is not aware of any reasons for such decrease in the price and increase in the trading volume.

The Board wishes to confirm that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Rule 13.23 of the Listing Rules, neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price sensitive nature.

There have been media reports in relation to the construction work of two coal mines of Yulin Shenhua Energy Co Ltd., a subsidiary of the Company, located at Guojiawan and Qinglongsi. The Company has investigated this and wishes to clarify as follows:

1. The coal mines located at Guojiawan and Qinglongsi received approval from the relevant regulatory authority in September 2010 to commence preliminary work and have received supporting documents required for project approval. Currently, the considerations for the exploration rights of the two coal mines have been fully settled and the agreements for mining rights transfer have been signed.

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2. Upon investigation, with a view to relieving strained coal supply by commencing coal production as soon as possible and generating profits for the Company, with the judgment that the conditions of project approval being satisfied, the two coal mines above commenced their respective preliminary work while the mine shaft construction was commenced in advance, which violated relevant regulations.

3. Upon becoming aware of the above situation, the Company halted such construction and established a team to investigate those responsible. The Company will further strengthen its project approval and construction management efforts so as to obtain the relevant approvals for the commencement of its construction projects as soon as possible.

Made by the order of the Board, the directors of which individually and jointly accept responsibility for the accuracy of this announcement.

By order of the BoardChina Shenhua Energy Company LimitedHuang Qing

Secretary to the Board of Directors

Beijing, PRC, 3 June 2011

As at the date of this announcement, the Board comprises the following: Dr. Zhang Xiwu, Dr. Zhang Yuzhuo, Dr. Ling Wen and Mr. Han Jianguo as executive directors, Mr. Liu Benren and Mr. Xie Songlin as non-executive directors, and Ms. Fan Hsu Lai Tai, Mr. Gong Huazhang and Mr. Guo Peizhang as independent non-executive directors.

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Financials (CNY)
Sales 2019 238 B
EBIT 2019 70 545 M
Net income 2019 44 560 M
Finance 2019 59 896 M
Yield 2019 6,43%
P/E ratio 2019 6,17x
P/E ratio 2020 6,63x
EV / Sales2019 1,13x
EV / Sales2020 1,06x
Capitalization 329 B
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Technical analysis trends CHINA SHENHUA ENERGY COMPA
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 18,21  CNY
Last Close Price 13,80  CNY
Spread / Highest target 86,9%
Spread / Average Target 32,0%
Spread / Lowest Target -14,7%
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