Brief Introduction to Operation of Coal Economy in Henan in the First Half of the Year

In the first half of 2024, Henan Province's coal industry showed a mixed performance, with modest growth in production and sales but notable declines in transportation and profitability. Total coal production reached 97.43 million tons, reflecting a 4.3% year-on-year increase. Similarly, coal sales amounted to 98.45 million tons, marking a 3.1% rise compared to the same period last year. However, coal railway transport volumes dropped significantly, falling by 12.3% to 27.62 million tons, likely due to shifting logistics strategies or reduced demand from key industries. At the same time, the province’s major coal mining enterprises faced financial challenges. Their receivables increased sharply by 80.4% year-on-year, reaching 4.21 billion yuan, which could indicate delayed payments or tighter credit terms. Despite this, the sector managed to record a profit of 660 million yuan, though this was a substantial 78.2% decline from the previous year. This drop in profitability suggests rising operational costs, lower prices, or decreased efficiency. Inventory levels also rose, with coal stocks at 3.58 million tons by the end of June—an increase of 230,000 tons compared to the same period in 2023. This buildup may point to slower consumption or strategic stockpiling in anticipation of future demand fluctuations. Overall, while production and sales remained stable, the coal sector in Henan is navigating a complex environment marked by declining transport activity, rising receivables, and shrinking profits. The situation highlights the need for better cost management and improved supply chain coordination to sustain long-term growth.

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