Yanzhou Coal Mining sees profit in Jan-Sept

Yanzhou Coal Mining Co., China's third largest listed coal miner by market value, saw 1.95 billion yuan (about 317 million U.S. dollars) in net profit in the first three quarters of 2014.

The figure represents an upside surprise amid flagging coal demands from both domestic and international markets and compared with a loss of 589 million yuan seen in the same period last year, the Shandong-based company said in a report filed with the Shenzhen Stock Exchange Sunday.

Surging revenues from coal sales mainly contributed to the strong earnings. Its revenue surged 15.63 percent year on year to 47.93 billion yuan in the first nine months, the company said.

Its basic earnings per share climbed to 0.4 yuan from minus 0.12 in the same period of last year, while total asset of the company rose 9.48 percent from the end of last year to 137.62 billion yuan.