Analysts are projecting better second-half profits at Yanzhou Coal Mining as higher export contract prices took effect in April.
Further price rises are possible as the government is now allowing undelivered contracts to be renegotiated.
The Hong Kong-listed firm, one of the mainland's largest coal producers, yesterday posted a 65.9 per cent year-on-year surge in interim net profit to 1.22 billion yuan, barely missing the mean estimate of 1.25 billion yuan of seven analysts polled by the South China Morning Post.
Turnover rose 27 per cent to 4.45 billion yuan.
Analysts are bullish on the company's second-half outlook in light of strong coal prices.
'We expect coal prices to continue hovering around the current high level,' DBS Vickers Securities analyst Helen Wang wrote in a research report.