MYSTEEL: Red ink taints China-listed coal producers in 2025

China's exchange-listed coal producers are set to report narrowed profits or outright losses for 2025 amid a softer coal-price environment, according to research undertaken by Mysteel. Only a handful of coal companies expect profit growth, largely generated by downstream business activities rather than coal sales, the analysis shows.

As of January 29, at least 21 Chinese listed coal companies had issued 2025 performance forecasts. Of these, 10 reported that they expected to remain profitable, while the remaining 11 anticipated losses, based on incomplete statistics compiled by Mysteel. Among those projecting lower profits or losses, a common issue was