Nearly 40% listed coal enterprises expected losses in 2015 for the first time, mergers and acquisitions tide has not yet arrived – Sohu finance reporter Liu Yang, 2015 coal industry is not optimistic. Wind statistics show that at present, Shen million coal mining plate 39 listed companies, 35 companies issued a performance notice, there are 29 expected net profit fell year on year, accounting for 82.6%, of which 13 are expected to be the first loss, accounting for nearly 40%. Analysts believe that 2016 will be a more difficult year for the coal industry, although the coal related company stock trend carbon industry capacity elimination, mergers and acquisitions are underway, but it is difficult to offset the negative impact of the trend of the industry downturn. Coal enterprises in deep disaster areas, coal prices fell from the beginning of 2015 to the end of the year. Data show that the Bohai power coal index dropped from 2015 yuan in early 525 to 2015 yuan at the end of 375, a decrease of 28.6%. In 2015, China’s coal production was 36.8 tons, higher than the National Energy Bureau approved the legal capacity of 34 tons of years. Insiders pointed out that, in addition to illegal production, illegal production is the main part of coal mine. Serious excess capacity, coupled with the impact of imported coal, coal prices directly lead to cliff fall. According to statistics of the coal industry association, in the first 11 months of 2015, the total profit of 90 large coal central enterprises totaled 5 billion 130 million yuan, down 9.7% year-on-year. Although there are profits in some enterprises such as Shenhua Group and Shandong energy group in 2015, most of the profits of these large state-owned coal enterprises come from non coal sector. Of the 35 listed companies that have announced the 2015 earnings forecast of Shen Wan coal mining sector, 29 expected net profit fell year on year, accounting for more than 80%. Among them, the first loss of listed companies are expected to have 13, accounting for nearly 40%. Hengyuan coal (4.740, -0.02, -0.42%) the evening of January 30th released the results of pre announcement of the first loss, net profit is expected in 2015 attributable to shareholders of listed companies -13.5 billion yuan to -14.5 billion yuan, down 8568.96% to 9211.11%; Shanxi coking (6.490, 0, 0%) the evening of January 27th released the results of pre first loss announcement, is expected to 2015 the annual loss of 820 million yuan to 840 million yuan, representing a surplus to deficit; Shaanxi coal (3.990, 0, 0%) also recently released the results of pre first loss announcement, expected 2015 annual net profit of -27 billion and -33 billion yuan, ranked two in Shenzhen City Yukui of the first list. Talking about the reasons for the loss, almost all listed coal enterprises in their announcement are mentioned in the industrial structure adjustment, industry overcapacity problem. In view of the current general situation of the coal industry, the listed coal enterprises have also tried to reverse the situation by selling assets and transformation, and the production capacity is in progress. In order to change its performance losses, Shaanxi coal industry is trying to divest inefficient assets. Last November, the Shaanxi coal industry has announced that it intends to transfer its possession of 100% stake in Baishui mining held by white mining, Tongchuan mining held 100% stake in Xu Gou coal mine;

近四成上市煤企预计2015年首度亏损 兼并重组大潮尚未到来-搜狐财经   本报记者 刘杨   2015年煤炭行业很不乐观。Wind统计显示,目前申万煤炭开采板块39家上市公司中已有35家公司发布了业绩预告,有29家预计净利润同比下降,占比达82.6%,其中13家预计将出现首亏,占比近四成。分析人士认为,2016年将是煤炭行业更加困难的一年,虽然煤 相关公司股票走势 炭行业产能淘汰、兼并重组正在进行中,但尚难以冲抵行业趋势性下滑的负面影响。   煤企深陷亏损重灾区   2015年,煤价从年初跌到年末。数据显示,环渤海动力煤指数由2015年初的525元 吨下降至2015年底的375元 吨,降幅达28.6%。2015年全国煤炭产量为36.8亿吨,高于国家能源局核定的合法产能34亿吨 年。业内人士指出,除违规项目生产外,部分煤矿违法超产是主因。产能严重过剩,加上进口煤冲击,直接导致煤价出现断崖式下跌。   据煤炭工业协会统计,2015年前11个月,90家大型煤炭央企利润合计51.3亿元,同比下降9.7%。神华集团、山东能源集团等个别企业2015年虽有利润,但这些大型国有煤炭企业的利润大部分来自非煤板块。   在申万煤炭开采板块已披露2015年业绩预告的35家上市公司中,29家预计净利润同比下降,占比逾八成。其中,预计首亏的上市公司就有13家,占比近四成。   恒源煤电(4.740, -0.02, -0.42%)1月30日晚发布业绩预首亏公告,预计2015年度归属于上市公司股东的净利润为-13.5亿元至-14.5亿元,同比减少8568.96%至9211.11%;山西焦化(6.490, 0.00, 0.00%)1月27日晚发布业绩预首亏公告,预计2015年度亏损8.2亿元至8.4亿元,同比盈转亏;陕西煤业(3.990, 0.00, 0.00%)近日也发布业绩预首亏公告,预计2015年度净利润为-27亿至-33亿元,位列沪深两市预亏榜之首。   谈及亏损原因,几乎所有上市煤企在其公告中都提到了产业结构调整、行业产能过剩的问题。针对煤炭行业眼下的普亏局面,上市煤企也纷纷靠卖资产和转型来试图扭转局面,去产能化正在进行中。   为改变业绩亏损,陕西煤业正试图剥离低效资产。去年11月,陕西煤业曾公告称,拟转让其所属蒲白矿业持有的白水煤矿100%股权、铜川矿业持有的徐家沟煤矿100%股权、鸭口煤矿100%股权及拥有的王石凹相关资产和负债、澄合矿业拥有的王斜矿相关资产和负债,共计五家煤矿。   另有不少煤炭企业正在谋求业务转型。永泰能源(3.670, -0.03, -0.81%)就是通过发展电力业务来实现业绩增长的上市煤企之一。在申万煤炭开采板块中,永泰能源是屈指可数的年度业绩预增公司之一,公司预计2015年度净利润约6亿元,同比增50%。公司表示,这主要得益于永泰能源收购的华兴电力自2015年5月起纳入合并报表范围,电力业务已成其主要利润增长点。   一位煤炭从业人员对中国证券报记者表示,在煤炭行业处于景气低谷的大环境下,上市煤企除了剥离亏损资产来压缩成本外,延伸产业链增强核心竞争力,才是根本出路。   兼并重组大潮尚未到来   国家发改委副主任连维良在2016年全国煤炭交易会上强调指出,"十三五"期间,中国将加速关闭和重组劣质煤矿,严控总产能。他介绍,当前产能在30万吨以下的煤矿总产能共计5.7亿吨 年,产能在9万吨以下的煤矿总产能共计3.1亿吨 年,未来几年仍有大量小煤矿需要淘汰或重组。   高盛报告认为,煤炭行业产能淘汰、兼并重组正在进行中,但远不能抵消行业下滑的大势,重组转型措施仍需加码。安迅思煤炭行业分析师邓舜在接受中国证券报记者采访时也表示,煤炭业去产能现在是"雷声大、雨点小",暂时没有看到一些实质性的举措。   邓舜进一步分析指出,现在煤炭行业去产能已经上升到国家高度,专项资金来源已落实,政策也直接指向了核心难点��人员安置问题。不过,从政策出台到资金落实,再到矿井转入关闭程序等,一系列流程都需要时间。眼下煤炭行业没有赚钱效应,且回暖时间遥遥无期,资本不愿在这个时间点投资或收购煤炭资产,兼并重组的大潮尚未来临。   国海证券(8.92, -0.05, -0.56%)最新研究报告认为,专项资金对矿井关闭的推动效果在2016年将有所显现,但推动矿井大面积的关停效果在2017年后才会出现。预计届时随着政策大范围落实,煤矿关闭数量会成倍增加至约3.5亿吨,产能过剩将缩小至2亿吨,煤价将因此止跌企稳,部分地区龙头企业将迎来产量上升、利润企稳的局面,其中,优质焦煤或无烟煤企业利润向上拐头将早于过剩严重的动力煤企。   "我们预计2018年行业有望出现盈利拐点,煤炭供需将达到平衡。一方面,2016年至2017年是国内去产能的重要时间段,到2018年矿井关闭数量将达到一个顶峰,剩下的就是一些优质煤企;另一方面,我们认为中国的经济周期可能从2018年企稳回升。"邓舜称。   厦门大学能源经济创新中心主任林伯强表示,在煤炭行业去产能的同时,政府相关部门还应刺激需求。"去产能是个漫长过程。一方面,通过在供给侧做减法,减少无效供给,从而释放过剩产能和僵尸企业占据的市场空间和资源,是去产能的直接方式;另一方面,需要在需求侧做加法,如果没有供给侧和需求侧的相互配合,一旦需求进一步下滑,供需缺口将长期难以平衡,价格便难以维持,企业财务将继续恶化,去产能也就更加困难。"相关的主题文章: