Coal producer Kinetic hits two-month high on robust earnings outlook
10/08/2026 03:12
BUZZ-Coal producer Kinetic hits two-month high on robust earnings outlook ** Shares of Kinetic Development Group 1277.HK rise 5.3% to HK$2, their highest point since June 5
** The coal producer expects its net profit after tax for 1H2026 to rise 31%-40% y/y to 730 million yuan to 780 million yuan ($108.23 million-$115.64 million)
** Profit growth in coal business driven by an about 18% increase in selling price of the company's coal products, and an effective financial control measures lead to the improvement for 1H2026, company says
** YTD, Hong Kong stock up 48.9%, benchmark Hang Seng Index .HSI up 1%
($1 = 6.7451 Chinese yuan)
(Reporting by Donny Kwok)
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