At least 15 Chinese listed companies engaging in coal businesses released their quarterly performance reports or forecasts as of October 28, with most of them reporting year-on-year declines in net profits for the first three quarters this year, according to data compiled by Sxcoal.

Among those 15 enterprises, 11 realized positive net profits during the given period, with China Shenhua Energy leading with a net profit of 46.07 billion yuan ($6.46 billion). China Coal Energy (14.61 billion yuan) and Yankuang Energy Group (11.41 billion yuan) secured second and third positions respectively.

Four companies incurred losses during January-September, with Shanxi Antai Group facing the largest loss of 301 million yuan, followed by Baotailong (-273 million yuan).

On a year-on-year basis, Guizhou Panjiang Refined coal, Shanxi Coking and Shanghai Datun Energy resources registered the biggest decreases in net profits of 95.45%, 80.27%, and 52.90%. Only two enterprises achieved yearly growths, with Huaihe Energy rising 25.85% and Inner Mongolia Dian Tou Energy up 22.73%.

In terms of revenue, three earned over 100 billion yuan over the first nine months. China Shenhua Energy ranked first with an operating income of 253.90 billion yuan, followed by China Coal Energy with 140.41 billion yuan and Yankuang Energy Group with 106.63 billion yuan.

Only five companies experienced year-on-year increases in operating revenue, including Yunnan Yunwei (12.78%), Huaihe Energy (12.73%), Inner Mongolia Dian Tou Energy (10.54%), Pingdingshan Tianan Coal Mining (0.78%), and China Shenhua Energy (0.60%).

The remaining companies recorded declines, with Baotailong New Materials seeing the largest decrease at 56.05%.