民生证券04月26日发布研报称,给予中国神华(601088.SH,最新价:38.68元)推荐评级。评级理由主要包括:1)25Q1四费费率同比抬升,杭锦能源同比减亏;2)商品煤产量同比下降、销量受外购煤减量影响下滑明显,毛利率同比抬升;3)新街一井、二井建设有序推进,集团优质资产有望持续注入;4)发售电量同比减少,电价下滑致毛利率同比下滑;5)运输业务量及盈利下滑,黄骅港五期工程全面开工;6)煤化工...
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