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China's second-largest state coal producer, mining thermal and coking coal and making coal-chemical products.
China's second-largest state coal producer, mining thermal and coking coal and making coal-chemical products.
Sells coal to power plants largely under long-term contracts priced by a government-guided formula, with the rest at spot prices, which dampens swings. It also runs coal-chemical plants making methanol and olefins. China National Coal Group, the state-owned parent, is the controlling shareholder.
In one line: China's Peabody Energy / Arch Resources.
Moat: narrow (scale, regulatory licence). Large state-backed reserve base and scale, but coal remains a cyclical commodity business.
Headquarters: Beijing, China · Founded: 2006 · Employees: 46,585
Size China Coal Energy (601898.SS) is a China Energy company (Coal) with a market value of $22.6B, the 92nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.91 on 6 Nov 2026.
Performance Over six months the shares fell 31.0%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 5 in its peer set.
Growth Revenue fell 4.0% over the last twelve months (peer median +3.7%); the operating margin is 18.1% (peer median 11.1%).
Valuation It trades at 9.2× forward earnings against a peer median of 11.0× (2nd cheapest of 5).
Price implies For today's price to make sense, revenue must grow about -17% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.8 points above its cost of capital (5.0% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥153B | CN¥147B | CN¥188B | CN¥192B | CN¥219B |
| Revenue growth | — | -22% | -2% | -13% | — |
| Gross profit | CN¥51.4B | CN¥39.1B | CN¥45.4B | CN¥46.7B | CN¥53.7B |
| EBITDA | n/a | CN¥37.0B | CN¥41.5B | CN¥44.2B | CN¥50.9B |
| Net income | CN¥18.1B | CN¥17.9B | CN¥19.3B | CN¥19.5B | CN¥18.3B |
| Free cash flow | CN¥17.8B | CN¥10.7B | CN¥19.7B | CN¥28.9B | CN¥39.0B |
| Capital expenditure | CN¥17.0B | CN¥21.8B | CN¥18.1B | CN¥17.6B | CN¥9.76B |
| Total debt | CN¥76.2B | CN¥113B | CN¥101B | CN¥106B | CN¥111B |
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 |
|---|---|---|---|---|---|---|
| China Coal Energy 601898.SS | $22.6B | -31% | -4% | 18% | 9.2× | -17.0% |
| China Shenhua Energy 601088.SS | $151B | +1% | -13% | 24% | 16.9× | n/a |
| Shaanxi Coal Industry 601225.SS | $37.6B | -1% | -8% | 22% | 11.1× | -15.1% |
| Yankuang Energy 600188.SS | $20.4B | -27% | +21% | 15% | 10.3× | -0.7% |
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 | 601898.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | -9.0% | 3rd highest of 5 |
| 6-month return | -31.0% | -10.8% | lowest of 5 |
| Distance from 52-week high | -34.7% | -28.4% | 2nd lowest of 5 |
| Revenue growth (TTM) | -4.0% | +3.7% | 2nd lowest of 5 |
| Operating margin | 18.1% | 11.1% | 2nd highest of 5 |
| Forward P/E | 9.2× | 11.0× | 2nd cheapest of 5 |
| Growth the price implies (Req g, 7 yrs) | -17.0% | n/a | — |
| Growth delivered (Del g) | +1.0% | n/a | — |
| Hurdle (Req g minus delivered) | -17.9 pp | n/a | — |
| ROIC minus cost of capital | +6.8 pp | +2.3 pp | 2nd highest of 5 |
| Net debt / EBITDA | -0.5× | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Coal Energy 601898.SS | China | $22.6B | -31% | -4% | 18% | 9.2× | -17.0% | +1.0% |
| Yankuang Energy 1171.HK | Hong Kong | $21.1B | -27% | +33% | 12% | 5.6× | n/a | n/a |
| 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% |