China Trade Information

China Shenhua Energy Co, the nation’s biggest coal producer by output, posted its unaudited 2007 net profit soared 19.4% year-on-year to hit RMB23.15 billion (US$3.24 billion) according to domestic accounting standards, said the company in a filing with the Hong Kong Stock Exchange.

CSEC attributed the outstanding growth to the increased demand as electricity suppliers enhanced production capacity. Sales amounted to RMB 82.1 billion last year, up 26% from the previous year.

China’s coal prices climbed to record high last year due to the country’s surging demand for electricity. Domestic miners have also boosted output this year after the disruption brought by the snow crisis.

Shenhua’s production increased by 11% in January, said the company in an earlier report.

Tags: Shenhua

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