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Taiyuan Coal swings to loss in H1

Aug. 7, 2012 (China Knowledge) - Taiyuan Coal Gasification Co Ltd<000968> saw its net loss attributable to shareholders at RMB 49.92 million in the first half of this year, while it realized RMB 96.37 million in net profit in the corresponding period of 2011.

Basic loss per share for the period was RMB 0.1, compared with basic earnings per share of RMB 0.19 in the first half of 2011.

In a statement filed with Shenzhen Stock Exchange, the company's operation revenue for the six-month period rose 20.15% YoY to RMB 1.89 billion.

The company said the sharp drops in the prices of coke and coal affected its margin profit.

Meanwhile, in another statement, the company said it will set up an energy company with Taiyuan Gengyang Industrial Group Co Ltd. Taiyuan Coal Gasification will hold a 51% stake in the JV.

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