Huatai Securities maintains a 'Buy' rating for YANKUANG ENERGY due to its strong revenue and profit growth in the first quarter of 2026, despite a decline in recurring net profit. The company is expected to benefit from rising coal and oil prices driven by global energy supply disruptions, particularly from ongoing conflicts in the Middle East. Additionally, YANKUANG's integrated coal chemical operations are anticipated to enhance profit margins as the price spread between oil and coal widens.
