Core Viewpoint - In the first half of 2025, Inner Mongolia Energy Group focused on its core business areas of coal and engineering construction, overcoming challenges in a complex market environment through safety production, project advancement, efficiency improvement, and technological empowerment [1] Group 1: Safety and Management - The coal sector implemented multiple measures to enhance safety, including organizing 175 personnel for on-site supervision and conducting extensive training and emergency drills, resulting in no major safety incidents this year [2] - The engineering construction sector utilized information technology to establish a robust safety management system, conducting safety education for over 620 personnel and performing checks on 48 ongoing projects [5] Group 2: Project Development - The coal sector prioritized the transformation of existing coal mines and the upgrading of operational mines, achieving significant progress in project approvals, including the successful approval of the Nalinhiri coal mine by the National Development and Reform Commission [6] - The engineering construction sector accelerated project development, maintaining a tracking system for 16 key projects and achieving a 93% completion rate for the rural electrification upgrade project in the autonomous region [6] Group 3: Operational Efficiency - The coal sector achieved over 50% of its production and profit targets, reducing non-productive expenses and enhancing internal motivation for cost reduction, with a 12.82% decrease in costs at the Li Jiatang coal mine [7] - The engineering construction sector saw a 23 billion yuan increase in external market contracts and a 192% increase in total profit, with six previously loss-making companies turning profitable [11] Group 4: Innovation and Reform - Both sectors emphasized the importance of party leadership and innovation, with the coal sector establishing a comprehensive work system for integration and the engineering construction sector doubling its R&D investment, resulting in 72 intellectual property rights obtained [12]

Investment Overview - In the first half of the year, Inner Mongolia's investment in major energy projects reached 165.8 billion yuan, representing a year-on-year increase of 39% and accounting for 52% of the annual planned investment, achieving the "half-time, half-task" goal [2] Coal Industry - Two coal mine area overall plans were approved by the National Development and Reform Commission, with two coal mines starting construction and a total production capacity of 16 million tons per year [2] - One coal mine has been completed and put into production with a capacity of 1.5 million tons per year [2] - Thirteen coal mines with capacity reserves received approval from the National Energy Administration, and intelligent coal mine capacity accounts for 89% of the capacity of operating coal mines [2] Power Infrastructure - The ±800 kV UHVDC transmission project from Inner Mongolia to Beijing-Tianjin-Hebei has been approved [2] - In the first half of the year, 29 cross-municipality grid projects at 500 kV and 220 kV were approved, with 10 projects put into operation and 43 under construction [2] - The main grid of the Inner Mongolia East Power Grid has been successfully completed, and electrification projects for 580 remote pastoral households have commenced [2] Green Hydrogen Industry - Inner Mongolia has introduced nine policies to promote the construction and consumption of green hydrogen projects, extending the policy period for 40% of wind-solar hydrogen project grid-connected electricity to 2027 [3] - The 150,000 kW integrated wind-solar hydrogen demonstration project by Datang Duolun has been put into operation, successfully linking green hydrogen with coal chemical applications [3] - The hydrogen long-distance pipeline project from Damao Banner to Baotou City has started construction, and the demonstration project for hydrogen transportation from Ulanqab City to Beijing-Tianjin-Hebei has been approved [3] Energy Storage Industry - Inner Mongolia has introduced compensation policies for independent new energy storage power stations, stabilizing investment return expectations for enterprises [3] - In the first half of the year, 34 new energy storage projects were promoted to start construction, with an installed capacity of approximately 14.8 million kW [3] - As of the end of June, grid companies have paid a total of 16.6 million yuan in compensation to nine independent new energy storage power stations [3]

Group 1: Energy Investment Growth - In the first half of 2025, Inner Mongolia's energy major project investment reached 165.8 billion yuan, a year-on-year increase of 39%, accounting for 52% of the annual planned investment [1] - The progress in coal projects includes the approval of two coal mine area plans, the commencement of two coal mines with a total capacity of 16 million tons per year, and the completion of one coal mine with a capacity of 1.5 million tons per year [1] - Smart coal mines account for 89% of the total coal production capacity in operation [1] Group 2: Power Infrastructure Development - The ±800 kV UHVDC transmission project from Inner Mongolia to Beijing-Tianjin-Hebei has been approved, with 29 cross-municipality power grid projects approved in the first half of the year [1] - Ten 500 kV power grid projects were put into operation, and 43 projects are under construction [1] - The project to electrify 580 remote farming and pastoral households has commenced, with the overall progress of Inner Mongolia Power Group's projects at 58% [1] Group 3: Green Hydrogen Initiatives - Inner Mongolia has introduced nine policies to promote green hydrogen project construction and consumption, extending the 40% online electricity ratio policy for wind-solar hydrogen projects until 2027 [2] - The 150,000 kW integrated wind-solar hydrogen demonstration project by Datang Duolun has been put into operation, facilitating the coupling of green hydrogen with coal chemical applications [2] - The construction of the hydrogen long-distance pipeline from Damao Banner to Baotou City has begun, and the demonstration project for hydrogen transportation from Ulanqab City to the Beijing-Tianjin-Hebei region has been approved [2] Group 4: Energy Storage Development - Inner Mongolia has implemented compensation policies for independent new energy storage power stations, stabilizing investment return expectations for enterprises [2] - By the end of June, grid companies had paid a total of 16.6 million yuan in compensation to nine independent new energy storage power stations [2] - A total of 34 new energy storage projects with an installed capacity of approximately 14.8 million kW have commenced construction in the first half of the year [2]

Group 1 - The coal stocks in the Hong Kong market continue to show weakness, with significant declines observed in several companies [1] - Mongolian Energy (00276.HK) experienced a drop of 4.69%, while other companies like Feishang Non-Ferrous Coal (01738.HK) fell by 3.28%, Yida Zong (01733.HK) by 2.83%, and Yancoal Australia (03668.HK) by 1.83% [1]

Core Viewpoint - Inner Mongolia aims to achieve "15 national firsts" in 2024, particularly in new energy installations, which are expected to exceed 100 million kilowatts nationwide [1][5]. Group 1: New Energy Development - Inner Mongolia has rapidly developed its energy economy by upgrading traditional energy industries, achieving high-quality growth [1]. - The region's new energy installed capacity has doubled in the past two years, reaching 145 million kilowatts, accounting for 52% of the total [5]. - New energy generation in Inner Mongolia was 166.5 billion kilowatt-hours and 212.5 billion kilowatt-hours in the past two years, maintaining a growth rate of over 25% [5]. Group 2: Energy Consumption and Export - Inner Mongolia is enhancing the consumption of new energy by promoting "Mengdian Outsourcing," increasing green electricity exports from 30 billion kilowatt-hours to 60 billion kilowatt-hours since the 14th Five-Year Plan, with expectations to reach 100 billion kilowatt-hours this year [5]. - The first cross-province green electricity direct connection project between Inner Mongolia and Ningxia has been approved, enriching the domestic cross-province new energy export model [5]. Group 3: Local Consumption and Innovation - The region is implementing six types of market-oriented consumption models for new energy, including integrated source-grid-load-storage and wind-solar hydrogen production [7]. - Inner Mongolia has built green hydrogen production capacity of 60,000 tons per year, nearly half of the national total, and recently launched the world's first green hydrogen ammonia project [7]. Group 4: Traditional Energy Sector - Inner Mongolia is promoting green and intelligent coal mining, with 180 green mines and 215 intelligent mines established, representing 61% and 72% of coal-producing mines, respectively [7]. - All large-scale coal mines have achieved "no human presence underground, no visible coal production" [7].

於百慕達註冊成立之有限公司 股份代號 : 276 二零二五年 年 報 TABLE OF CONTENTS 有關前瞻性陳述 之提示聲明 本報告載有若干關於蒙古能源有限公司（「蒙古能源」或「本公司」）及其附屬公司（「本集團」）營運及業務之 前瞻性陳述及意見。該等前瞻性陳述及意見與本公司之（其中包括）目標、目的、策略、意向、計劃、信念、預 期及估計有關，一般使用前瞻性字詞，例如相信、預期、預料、估計、計劃、預測、目標、可能、將會或可能於 未來發生或預期於未來發生之其他行動結果。 閣下不應過份依賴該等僅適用於本報告發表日期之前瞻性 陳述及意見。該等前瞻性陳述及意見乃基於本集團自有的資料，以及本集團相信為可靠之其他來源資料。 我們之實際業績可能遠遜於該等前瞻性陳述及意見所明示或暗示者，以致影響本公司之股份市價。 閣下 亦應閱讀我們就各項交易發出之通函、公告及報告所載的風險因素，該等風險因素乃被視為納入本報告並 成為本報告之一部分，以及就相關事項作出保留之聲明。倘有任何前瞻性陳述或意見未能落實或被證明不 正確，本集團或其任何董事或高級人員概不承擔任何責任。除非香港聯合交易所有限公司（「聯交所」）證券 上市規則（「上市規則 ...

Group 1 - The "Peak Summer Power Supply" is a critical annual challenge for energy companies, requiring comprehensive preparations and strategies to ensure stable energy supply during high demand periods [1][12][25] - Inner Mongolia Energy Group is actively enhancing its operational capabilities, focusing on fuel supply, emergency response, and equipment monitoring to meet the peak summer electricity demand [1][9] - Jinshan Thermal Power Company is implementing precise strategies to ensure sufficient and timely coal supply, optimizing coal usage efficiency and monitoring key indicators in real-time [1][6] Group 2 - Emergency response capabilities are being tested through practical drills, such as simulating a complete power outage during line modifications, to ensure readiness for extreme situations [4][12] - Ustai Thermal Power Plant has established a dedicated emergency leadership team and developed a comprehensive work plan for peak summer operations, addressing potential issues proactively [6][12] - Xilin Thermal Power Company has doubled inspection frequencies for critical equipment and ensured adequate coal supply through detailed logistics planning [9][33] Group 3 - The company has achieved over 700 days of stable operation with daily electricity generation exceeding 20 million kilowatt-hours, demonstrating effective management strategies [12][19] - Continuous monitoring and maintenance of equipment are emphasized to enhance reliability and ensure readiness for immediate power generation [14][15] - The company is conducting thorough safety inspections and implementing emergency plans to mitigate risks associated with extreme weather conditions [15][25] Group 4 - Advanced technologies, such as 5G and AI, are being utilized for real-time monitoring of mining operations, enhancing operational efficiency and safety [29][33] - The implementation of staggered maintenance schedules allows for consistent coal production, maintaining daily output above 10,000 tons [33] - The focus on proactive defect management and real-time data analysis has significantly improved the identification and resolution of equipment issues [33]

Group 1 - The northern region is entering the traditional rainy season, posing challenges for energy production companies in terms of flood prevention and control [1] - Inner Mongolia Energy Group is establishing a closed-loop system for flood prevention, including basic management, hazard control, emergency response, equipment assurance, and construction management [1][3] - The company has implemented a dual insurance mechanism of "leadership on duty + 24-hour monitoring" and has developed a special flood prevention plan [3] Group 2 - Jinshan Thermal Power Company is closely monitoring weather conditions and has placed over 1,400 flood bags at 40 key flood prevention points [5] - The company has formed a cleaning team to clear drainage systems and has taken measures to protect critical equipment from water damage [5] - Xilin Thermal Power Company emphasizes a proactive approach to flood prevention, focusing on both prevention and response [5] Group 3 - The company has conducted a comprehensive self-inspection of communication equipment, flood prevention facilities, and emergency supplies to ensure readiness in case of emergencies [7] - The drainage capacity is crucial for the safe and stable operation of units during the rainy season, with regular inspections of various pump rooms being conducted [7] - The ongoing heating network technical transformation project faces challenges due to heavy rainfall, with safety management personnel monitoring weather forecasts [7] Group 4 - Great Wall Power Company utilizes a detailed management system that includes responsibility lists, tiered inspections, and emergency drills to effectively respond to flood challenges [8] - The company has assigned specific inspection tasks to personnel for key areas and conducts thorough checks during heavy rainfall [8] - Emergency operation procedures are practiced to ensure quick response in case of unexpected situations [8]

Core Viewpoint - The article emphasizes the need for financial services that understand technology and can provide long-term support to tech companies, highlighting the importance of a comprehensive financial service system tailored to the unique needs of technology-driven enterprises [1][2]. Group 1: Financial Services for Tech Companies - Financial institutions must enhance their credit lending capabilities by understanding the technology and industry specifics of tech companies, as these firms often lack traditional collateral and stable cash flows [2][3]. - The Chinese government has introduced policies to support technology innovation through a full lifecycle financial service system, focusing on the financing needs of key areas in tech innovation [1]. Group 2: Case Studies of Financial Support - Shanghai Hejian Industrial Software Group, a tech firm specializing in electronic design automation (EDA), received an 800 million yuan credit line from CITIC Bank, which evaluated the company based on its technological advancements and market potential rather than traditional financial metrics [2][3]. - CITIC Bank has launched the "Technology Achievement Transformation Loan" to help startups like Sanrui High Polymer Materials obtain financing without collateral, focusing on their technological value [4]. Group 3: Comprehensive Financial Ecosystem - CITIC Group leverages its diverse financial services, including banking, securities, and insurance, to create a "stock-loan-bond-insurance" linkage mechanism, providing comprehensive financial support throughout the lifecycle of tech companies [4][6]. - The integration of various resources within CITIC Group allows for enhanced collaboration and support for tech firms, facilitating their growth from inception to international expansion [6].

Group 1: Industry Developments - The National Development and Reform Commission aims to establish over 100,000 high-power charging facilities nationwide by the end of 2027, enhancing service quality and technology applications [2] - The State Administration for Market Regulation has implemented national standards for civil drone manufacturing, reducing costs and enhancing commercialization capabilities [2] - The Shanghai Municipal Government has introduced measures to promote high-quality development in the software and information services industry, encouraging rewards for companies exceeding certain revenue and growth thresholds [3] Group 2: Company News - BlueDai Technology is planning a change in control, with its stock suspended from trading starting July 8, 2023, due to the potential transfer of 18% of shares [4] - Xianggang Technology expects a net profit increase of 410% to 478% year-on-year for the first half of the year [4] - Industrial Fulian anticipates a net profit increase of 36.84% to 39.12% year-on-year for the first half of the year [5] - Huadian Science and Technology signed contracts worth approximately 2.516 billion RMB for coal yard design and construction, which is expected to account for 33.37% of the company's latest audited revenue [10]