研報掘金丨民生證券:山西焦煤Q3業績承壓,Q4業績有望好轉
民生證券研報指出,山西焦煤(000983.SZ)Q3業績承壓,Q4業績有望好轉,維持“謹慎推薦”評級。第三季度歸母淨利潤11.21億元,同比下降61.91%,環比下降45.24%。該行認為業績下滑的主要原因在於煤炭售價的下滑。進入23Q4,沙曲焦精煤長協價格上升200元/噸,因此預計23Q4公司業績有望環比改善。綜合考慮目前國家煤炭行業政策、證照辦理規定及焦煤市場環境等因素初步預測,預計滿足承諾“條件”的礦井:2024年有2座,2025年2座,2026年13座,2027年15座,2028-2029年11座,2030年及以後15座,合計58座礦井。綜上,公司產能外延增長值得持續關注。
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