智通财经APP获悉，中国神华(01088)绩后跌近5%，截至发稿，跌4.55%，报29.4港元，成交额3.8亿港元。
消息面上，中国神华发布2025年第一季度业绩，期内营收695.85亿元人民币，同比下降21.1%；净利润133.74亿元，同比下降18%；煤炭销售量9930万吨，同比下降15.3%。公告称，收入下滑主要由于煤炭销售量及平均销售价格下降导致煤炭销售收入减少；售电量及平均售电价格下降导致售电收入减少。
华泰证券指出，虽然在煤价下行周期中公司盈利承压，但是公司净现金流仍可支撑高水平分红派息，叠加资产负债表具备高健康度，我们认为公司在市值管理需求驱动下，或将保持稳定分红率以平滑业绩，公司2025-27年股东回报规划今年或将实施中期分红，年化分红收益率或将显著提升，红利价值凸显。
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