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Major Chinese coal producer with international mining operations (including Australia via Yancoal) and coal-chemical products.
Major Chinese coal producer with international mining operations (including Australia via Yancoal) and coal-chemical products.
Sells coal at domestic contract and spot prices from Shandong and other provinces, while Yancoal Australia, its majority-owned subsidiary, exports thermal coal priced off the Newcastle benchmark and sold mainly to Asian power plants. State-owned Shandong Energy Group is the controlling shareholder. Coal chemicals add methanol and similar products.
In one line: China's Peabody Energy with an overseas mining arm.
Moat: narrow (scale). Diversified domestic and Australian mining assets, but coal remains a cyclical commodity business.
Headquarters: Zoucheng, China · Founded: 1976 · Employees: 90,921
Size Yankuang Energy (600188.SS) is a China Energy company (Coal) with a market value of $20.4B, the 108th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.76 on 6 Nov 2026.
Performance Over six months the shares fell 26.6%, against -10.0% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 6 in its peer set.
Growth Revenue grew 20.6% over the last twelve months (peer median -4.0%); the operating margin is 15.2% (peer median 9.9%).
Valuation It trades at 10.3× forward earnings against a peer median of 11.1× (2nd cheapest of 6).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is -8%, so the hurdle is +7 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.2 points above its cost of capital (5.0% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥157B | CN¥144B | CN¥155B | CN¥148B | CN¥222B |
| Revenue growth | — | -8% | +5% | -33% | — |
| Gross profit | n/a | CN¥39.5B | CN¥53.0B | CN¥58.2B | CN¥91.6B |
| EBITDA | n/a | CN¥36.4B | CN¥47.1B | CN¥53.5B | CN¥83.0B |
| Net income | CN¥12.4B | CN¥8.38B | CN¥14.9B | CN¥20.1B | CN¥33.4B |
| Free cash flow | CN¥1.07B | CN¥1.86B | CN¥8.48B | -CN¥1.01B | CN¥39.2B |
| Capital expenditure | CN¥25.8B | CN¥18.5B | CN¥18.6B | CN¥18.2B | CN¥20.6B |
| Total debt | CN¥154B | CN¥178B | CN¥162B | CN¥131B | CN¥116B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Yankuang Energy 600188.SS | $20.4B | -27% | +21% | 15% | 10.3× | -0.7% |
| China Shenhua Energy 601088.SS | $151B | +1% | -13% | 24% | 16.9× | n/a |
| China Coal Energy 601898.SS | $22.6B | -31% | -4% | 18% | 9.2× | -17.0% |
| Shaanxi Coal Industry 601225.SS | $37.6B | -1% | -8% | 22% | 11.1× | -15.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 600188.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.0% | -8.4% | lowest of 6 |
| 6-month return | -26.6% | -10.0% | 2nd lowest of 6 |
| Distance from 52-week high | -39.7% | -24.8% | lowest of 6 |
| Revenue growth (TTM) | +20.6% | -4.0% | highest of 6 |
| Operating margin | 15.2% | 9.9% | 3rd highest of 6 |
| Forward P/E | 10.3× | 11.1× | 2nd cheapest of 6 |
| Growth the price implies (Req g, 7 yrs) | -0.7% | -10.7% | most demanding of 5 |
| Growth delivered (Del g) | -7.7% | +1.8% | lowest of 5 |
| Hurdle (Req g minus delivered) | +7.0 pp | -13.5 pp | most demanding of 5 |
| ROIC minus cost of capital | +0.2 pp | +2.5 pp | lowest of 6 |
| Net debt / EBITDA | 3.4× | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yankuang Energy 600188.SS | China | $20.4B | -27% | +21% | 15% | 10.3× | -0.7% | -7.7% |
| China Coal Energy 601898.SS | China | $22.6B | -31% | -4% | 18% | 9.2× | -17.0% | +1.0% |
| Shaanxi Coal Industry 601225.SS | China | $37.6B | -1% | -8% | 22% | 11.1× | -15.1% | +10.7% |
| Shanxi Lu'An Environmental Energy Development 601699.SS | China | $6.03B | -17% | -1% | 10% | 10.9× | n/a | n/a |
| Huaibei Mining 600985.SS | China | $5.70B | -5% | +9% | 7% | 11.2× | -5.8% | -4.7% |
| Shanxi Coking Coal Energy 000983.SZ | China | $5.38B | -10% | -5% | 9% | 12.7× | -6.4% | +2.7% |