China Coal Energy Has Record-Breaking Year on Shortage-Fueled Price Surge

What’s new: China Coal Energy Co. Ltd. (601898.SH) reported its biggest profit ever in 2021 in a sign that last year’s domestic coal shortages had an upside for at least one part of the market — the producers.

Net profit attributable to shareholders more than doubled to 13.3 billion yuan ($2.1 billion) as annual revenue jumped 64% to 231 billion yuan — another record high, the state-owned company said in its annual report (link in Chinese) published late Thursday.