[Coal-fired power generation and thermal coal consumption continued to decline in the third quarter, and coal stocks are generally guaranteed to meet the winter peak] November 2, in the third quarter of 2026, China's coal-fired power generation and proportion declined year-on-year, and new progress was made in the low-carbon energy transformation. With the recent acceleration of the implementation of measures to increase coal production and ensure supply, coal supply has steadily recovered. At the same time, coal consumption has been relatively stable, and the gap between supply and demand has further narrowed. The superimposed thermal coal inventory has maintained a safe and reasonable range, providing a solid foundation for ensuring supply during the winter peak. Coal-fired power generation capacity and proportion decreased year-on-year. In the three months of July, August, and September, the national coal power generation decreased by 4.0%, 4.6%, and 1.9% year-on-year respectively, and the consumption of thermal coal decreased accordingly. After the proportion of domestic coal power generation fell below 50% for the first time in the first half of this year, it further dropped to 49.1% at the end of September. The proportion of annual new power generation capacity of coal power in the new electricity consumption of the whole society continues to decline, falling to 4.4% at the end of September. Coal inventories are within a safe and reasonable range. As of October 25, 26.92 million tons of coal were stored in ports around the Bohai Sea, an increase of 2.15 million tons year-on-year. Among them, 5.95 million tons of coal were stored in Qinhuangdao Port, an increase of 420,000 tons year-on-year. Coal stocks in unified power plants across the country remain at a relatively high level, with 210 million tons on October 25, and are available for an average of 35 days, which is equivalent to the average of the past three years.