Shaanxi Coal Industry Co. Ltd. was the worst hit in the sector after it posted losses of 1.8 billion yuan ($284 million) in the first nine months, followed by China National Coal Group Corp. with 1.7 billion yuan ($273 million). Many companies, including China Pingmei Shenma Group, SDIC Xinji Energy Co. Ltd. and Datong Coal Mine Group, reported losses of more than 1 billion yuan ($162 million) at the end of September. Many companies attributed the losses to the domestic economic slowdown, overcapacity in the coal industry and sluggish power consumption that have pushed down coal prices. China Shenhua Energy Co. Ltd. posted 16.6 billion yuan ($2.7 billion) in profits during the first three quarters, down 44% from the same period last year.