1. People's Republic of China Stocks

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    Coal
Guizhou Panjiang Refined Coal Co.,Ltd.

Guizhou Panjiang Refined Coal Co.,Ltd.

600395.SS
Guizhou Panjiang Refined Coal Co.,Ltd.CN flagShanghai Stock Exchange
4.80
CNY
+0.10
- -
10.30BMarket Cap
Guizhou Panjiang Refined Coal Co.,Ltd.
600395.SS
(Shanghai Stock Exchange)

Recent

price

4.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.3
4.51
4.76
3.38
3.13
2.45
2.4
3.67
3.68
4.48
3.97
5.87
5.98
4.38
4.19
4.53
3.57
Revenue per Share
0.81
1.03
0.91
0.29
0.19
0.01
0.12
0.53
0.57
0.73
0.52
0.71
1.11
0.34
0.05
0.15
0.23
Basic EPS, GAAP
0.47
0.86
0.25
0.18
0.29
0.15
-0.19
0.36
0.23
0.67
-0.27
0.09
-0.2
-2.99
-4.4
-1.46
-1.15
Free Cash Flow per Basic Share
0.32
0.63
0.65
0.47
0.32
0.18
0.04
0.27
0.31
0.36
0.24
0.36
0.54
0.46
0.52
0.38
0.23
Dividend per Share
1.59
1.95
2.54
1.86
1.72
1.57
1.69
1.91
1.97
2.2
2.32
2.62
3.01
2.71
2.51
2.59
2.6
Book Value per Share
3.13
3.66
4.16
3.97
3.27
3.04
3.42
3.58
3.71
4.61
4.56
4.56
6.15
5.47
5.03
5.04
2.74
Tangible Book Value per Share
1,655
1,655
1,656
1,629
1,652
1,658
1,634
1,655
1,655
1,655
1,654
1,656
1,982
2,148
2,126
2,154
2,158
Basic Weighted Avg Shares
5,469
7,465
7,882
5,505
5,175
4,069
3,914
6,081
6,090
7,413
6,563
9,726
11,843
9,403
8,900
9,762
7,702
Sales/Revenue/Turnover
29.41
28.11
24.49
13.56
10.71
4.5
4.08
22.22
18.87
21.67
17.25
19.93
22.66
11.55
4.62
11.02
14.92
Operating Margin (%)
403
472
484
378
379
372
202
202
210
303
338
372
383
596
926
1,279
- -
Depreciation Expense
1,345
1,705
1,504
472
307
23
196
877
945
1,212
867
1,172
2,194
732
104
329
492
Net Income, GAAP
15.51
15.82
15.21
20.94
14.46
9.81
4
15.36
14.72
15.74
13.63
15.15
17.01
19.02
43.41
16.15
12.26
Effective Tax Rate (%)
24.6
22.84
19.08
8.58
5.94
0.57
5.01
14.43
15.52
16.35
13.2
12.05
18.53
7.79
1.17
3.38
6.38
Profit Margin (%)
1,858
2,052
849
1,161
1,083
584
387
573
951
487
-1,087
-602
2
-3,780
-6,620
-8,723
-7,456
Working Capital
303
1,660
1,246
157
60
92
42
314
100
555
787
1,762
3,314
7,750
13,802
15,266
16,630
LT Debt
6,387
7,478
8,236
6,643
6,401
5,973
6,460
6,744
6,898
8,326
8,097
7,950
12,583
12,515
11,489
11,715
11,823
Total Equity
20.76
21
15.87
6.45
6.54
2.41
2.21
14.9
11.98
14.58
9.02
13.84
14.01
3.99
0.81
2.58
2.75
Return on Invested Capital (%)
48.66
39.44
24.85
11.08
9.6
2.63
6.97
20.78
19.99
20.31
12.26
13.1
19.08
5.31
1.31
2.71
3.13
Return on Capital (%)
58.97
58.1
40.43
13.06
10.46
0.85
7.31
29.65
29.47
35.15
23.22
28.7
42.55
12.42
1.87
6.05
9.07
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
10,285
9,765
LT Borrowings
- -
15,260
16,625
LT Finance Leases
- -
6
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
2,147
2,147
Market Capitalization
11,503
9,945
12,238

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
6,727
7,088
Cash, Cash Equivalents & STI
- -
2,482
2,961
Accounts Receivable, Net
- -
1,173
1,071
Inventories
- -
688
576
Total Current Liabilities
- -
15,450
14,544
Payables & Accruals
- -
- -
- -
ST Debt
- -
10,285
9,765
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.25%
9.94%
1.96%
Free Cash Flow
54.01%
209.89%
-66.29%
Net Income, GAAP
128.61%
37.27%
216.34%
Sales/Revenue/Turnover
11.56%
10.74%
9.68%
Total Cash Common Dividend
71.01%
21.14%
-25.48%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,949
2,097
2,403
2,451
8,900
2025
2,482
2,670
- -
2,532
9,762
2026
2,500
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
- -
- -
- -
0.05
2025
-0.05
- -
- -
- -
0.15
2026
0.02
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
- -
- -
- -
0.52
2025
0.08
- -
- -
- -
0.38
2026
0.09
- -
- -
- -
- -
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Business
Guizhou Panjiang Refined Coal Co., Ltd. Guizhou Panjiang Refined Coal Co., Ltd. (600395.SS) is a China-based company principally engaged in coal mining, washing, processing, and sales, as well as power generation and sales; its core products include coking coal, pulverized coal injection coal, clean coal, mixed coal, steam coal, thermal coal, special processed coal, and coke, primarily serving the steel, chemical, power, and building materials industries. The company operates mainly in Guizhou Province and distributes to coal-deficient regions such as Hunan, Sichuan, Guangxi, Guangdong, and Fujian, with major customers including southern Yangtze River steel mills like Pangang, Liugang, and Shuigang; it also provides ancillary services including manufacture and repair of mechanical and electrical products, equipment leasing, mining equipment installation and maintenance, inspection and testing, real estate development, property management, heat supply, hotel operations, cattle breeding, skill training, financial consulting, and insurance agency. Founded in 1999 and headquartered in Liupanshui, Guizhou Province, at Gangou Bridge, Hongguo Economic Development Zone, the company, with approximately 26,635 employees, has expanded into new energy with solar, wind, and hydropower generation, achieving a grid-connected capacity of 2.96 million kilowatts as of May 2025 from investments in projects totaling 3.77 million kilowatts installed capacity. Recent developments include a wholly-owned subsidiary's approval in 2025 to invest RMB 721.17 million in the 120MW Luoxihe Wind Power Project in Panzhou and RMB 144 million capital increase for equity requirements, alongside a unit's plan to invest RMB 962.2 million in new energy power generation projects; in 2024, it participated via public delisting in the sale of a 9% stake in Guizhou Shouqian Resources Development Co., Ltd. to Shougang Changzhi Steel & Iron Co., Ltd., completing registration changes by June 2024, while releasing its 2024 annual report in April 2025 and semi-annual report in August 2025 reflecting coal production of 4.471 million tons and sales of 4.074 million tons in the first half amid market declines.