Huatai Securities: Optimistic about the coal sector benefiting from continuous outperformance of thermal coal and non-thermal coal
Huatai Securities is optimistic about the coal sector, predicting continued outperformance due to sustained demand for both thermal and non-thermal coal. They anticipate domestic coal prices to remain strong, potentially exceeding 900 yuan/ton in the summer peak of 2026. Separately, CITIC Securities highlights the standardization and widespread adoption of Token services, driven by major telecom operators. This shift is expected to revalue the industry and transition compute leasing from fixed monthly rates to usage-based billing, favoring leading compute leasing providers. AI
IMPACT Standardization of Token services could reshape compute leasing models, impacting AI infrastructure providers.
