The results of the three quarterly reports of coal enterprises and thermal power enterprises can be described as "two days of ice and fire"-the former's performance is generally red, while the latter has more losses.

In this context, power companies have accelerated the pace of transformation of new energy power generation, such as Jidian, Jingneng, Datang and Jinkong. Recently, with the intensive introduction of policy regulation, large state-owned mines in Inner Mongolia, Shanxi, Shaanxi and other places began to cut prices one after another, and futures prices of thermal coal, coking coal and coke all adjusted back to varying degrees.