2025年，集团生产经营态势保持平稳，一体化运营核心优势持续巩固，能源安全稳定供应得到有力保 障。但受行业供需形势变化影响，集团煤炭销售量及平均销售价格下降，导致经营业绩同比下降。 智通财经APP讯，中国神华(01088)发布公告，预计集团2025年度的归属于公司所有者的本年利润为人民 币508亿元至人民币558亿元，与上年披露数据(2024年：人民币624.21亿元)相比，下降18.6%至10.6%;与 经重述的上年数据(2024年：人民币595.44亿元)相比，下降14.7%至6.3%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 本公告所載本公司財務數據為根據國際財務報告準則編製的初步核算數據，未經 會計師事務所審計或審閱，可能與經審計的本公司截至2025年12月31日止年度 （「2025年度」）的財務報表數據存在差異。請投資者注意投資風險。 一、 2025年度業績預告情況 經初步測算，預計本集團2025年度的歸屬於本公司所有者的本年利潤為人民 幣508億元至人民幣558億元，與上年披露數據（2024年：人民幣624.21億元） 相比，下降18.6%至10.6%；與經重述的上年數據（2024年：人民幣595.44億 元）相比，下降14.7%至6.3%。 二、情況說明 （一）本年業績變動原因 2025年，本集團生產經營態勢保持平穩，一體化運營核心優勢持續鞏 固，能源安全穩定供應得到有力保障。但受行業供需形勢變化影響，本 集團煤炭銷售量及平均銷售價格下降，導致經營業績同比下降。 1 （在中華人民共和國註冊成立的股份有限公司） （股份代 ...

Group 1 - The core point of the article is that China Shenhua Energy Co., Ltd. plans to issue A-shares and pay cash to acquire 100% equity of several subsidiaries from its controlling shareholder, China Energy Investment Corporation [2][3] - The transaction includes the acquisition of assets such as Guodian Jianshe Inner Mongolia Energy Co., Ltd. and other coal and energy-related companies [2] - The board of directors approved the transaction at meetings held on December 19, 2025, and January 23, 2026, with details available on the Shanghai Stock Exchange website [3] Group 2 - Regarding impairment compensation arrangements, China Energy Group has committed to compensate for the impairment of exploration rights held by its subsidiary, with the asset's book value at 81.5926 million yuan as of July 31, 2025 [4][8] - The compensation period is set for the year of transaction completion and the following two accounting years, specifically 2026, 2027, and 2028 [6] - The compensation will be prioritized in shares issued by China Shenhua, with cash as a secondary option if shares are insufficient [8][9] Group 3 - For the Heidaigou exploration rights, the asset's book value is 2.5007213 billion yuan as of July 31, 2025, with a commitment from China Energy Group to assist in obtaining mining rights by December 31, 2028 [10][11] - If the mining rights are not obtained by the deadline, China Energy Group has committed to repurchase the exploration rights at a price that includes the transaction price and development costs incurred by China Shenhua [11] - The board of directors believes that the commitments made by China Energy Group regarding the exploration rights are fair and reasonable, aligning with the overall interests of the company and its shareholders [12]

证券代码：601088 证券简称：中国神华 公告编号：临 2026-005 中国神华能源股份有限公司 关于发行股份及支付现金购买资产并募集配套资金 暨关联交易事项的进展公告 中国神华能源股份有限公司董事会及全体董事保证本公告内容不存在任何 虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 及其摘要的议案》等与本次交易相关的各项议案，具体内容详见公司于上海证券 交易所网站（www.sse.com.cn）及公司指定信息披露媒体发布的相关公告。 2026年1月23日，公司2026年第一次临时股东会审议通过了《关于<中国神华 发行股份及支付现金购买资产并募集配套资金暨关联交易报告书（草案）>及其 摘要的议案》等与本次交易相关的各项议案，具体内容详见公司于上海证券交易 所网站（www.sse.com.cn）及公司指定信息披露媒体发布的相关公告。 （二）关于若干探矿权减值补偿安排的情况 为充分保障上市公司利益，2026年1月28日，国家能源集团就平庄煤业的间 接全资子公司尼勒克县瑞安煤炭有限责任公司持有的探矿权"尼勒克县吉仁台 有烟煤矿西部勘探"（"西部勘探探矿权"或"标的测试资产"） ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任 何 損 失 承 擔 任 何 責 任。 茲提述本公司日期為2025年8月1日、2025年8月15日、2025年12月19日 及 2026年1月22日的公告，以及本公司日期為2025年12月24日的通函（「通函」）， 內容有關本公司建議通過發行A股股份及支付現金方式收購資產並於A 股 市 場 募 集 配 套 資 金。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 通 函 所 界 定 者 具 有 相 同 涵 義。 一. 有關若干探礦權的承諾 亦茲提述本公司日期為2026年1月22日 之 公 告，據 此，本公司表明 就 本 次 交 易 而 言，平 莊 煤 業 目 前 持 有 的 若 干 探 礦 權，可 能 於 適 當 時 候 由 國 家 能 源 集 團 公 司 出 具 進 一 步 的 減 值 補 償 承 諾，以 進 一 步 保 障 本 公 司 及 其 股 東 的 利 ...

Group 1 - Hong Kong coal stocks strengthened in the afternoon trading session [1] - China Qinfa (00866.HK) increased by 11.68%, reaching HKD 4.11 [1] - Power Development (01277.HK) rose by 8.18%, reaching HKD 1.72 [1] - Yanzhou Coal Mining (01171.HK) gained 4.25%, trading at HKD 11.52 [1] - China Shenhua (01088.HK) saw an increase of 3.62%, priced at HKD 43.54 [1] - China Coal Energy (01898.HK) rose by 3.27%, with a price of HKD 11.38 [1]

Group 1 - Coal stocks showed strong performance in the afternoon, with notable increases in prices for companies such as Qinfa (up 11.68% to HKD 4.11), Power Development (up 8.18% to HKD 1.72), Yanzhou Coal (up 4.25% to HKD 11.52), China Shenhua (up 3.62% to HKD 43.54), and China Coal Energy (up 3.27% to HKD 11.38) [1] - According to Huayuan Securities, coal prices have shown a quarterly downward trend since the beginning of 2023, with a potential price rebound expected in Q4 2025, which could lead to a sequential performance improvement for the sector [1] - In early January 2026, some provinces are pushing for the exit of certain coal supply capacities, which could significantly improve coal supply and demand dynamics, leading to a notable reduction in coal inventories and potential price elasticity within the year [1] Group 2 - Zheshang Securities forecasts a reversal in the global coking coal supply-demand balance, with declining production and increasing demand, which is expected to drive prices higher alongside decreasing costs, leading to significant performance improvements [2] - Coking coal prices have been higher by CNY 269 per ton compared to the average price in Q1 2025, with costs for coking coal companies gradually decreasing to low levels, indicating a potential for significant performance improvement in the first quarter [2] - The net profit per unit of high-quality coking coal companies is significantly lower than that of thermal coal companies, failing to reflect the scarcity of coking coal resources [2]

Group 1 - Coal stocks showed strong performance in the afternoon, with notable increases in share prices for companies such as Qinfa (up 11.68% to HKD 4.11), Power Development (up 8.18% to HKD 1.72), and Yanzhou Coal (up 4.25% to HKD 11.52) [1] - Huayuan Securities reported that coal prices have shown a quarterly downward trend since 2023, with a potential price rebound expected in Q4 2025, leading to improved performance in the coal sector [1] - By early January 2026, some provinces are pushing for the exit of certain coal supply capacities, which could significantly improve coal supply-demand dynamics and reduce coal inventories [1] Group 2 - Zheshang Securities highlighted a reversal in the global coking coal supply-demand balance, with declining production and increasing demand, which is expected to drive prices up [2] - Coking coal prices have increased by CNY 269 per ton compared to the average price in Q1 2025, while production costs for coking coal companies are gradually decreasing [2] - The net profit per unit of high-quality coking coal companies is significantly lower than that of thermal coal companies, indicating an underappreciation of the scarcity of coking coal resources [2]

Group 1 - The core viewpoint of the news highlights the strong performance of coal stocks in the Hong Kong market, with China Qinfa experiencing a significant increase of over 10%, reaching a historical high, and achieving a nine-day consecutive rise [1] - According to Guosheng Securities, the combination of cold waves and short covering has led to a rapid increase in U.S. natural gas futures prices, which may stimulate coal consumption as power plants shift to coal to control fuel costs [1] - The report emphasizes that with the upcoming annual performance disclosures, companies with strong performance are expected to see their stocks perform well, recommending key coal companies such as China Shenhua, Yanzhou Coal Energy, and China Coal Energy [1] Group 2 - Xinda Securities indicates that the overall energy inflation context suggests that the supply-demand balance for coal will remain tight over the next 3-5 years, with high-quality coal companies maintaining high barriers, cash flow, dividends, and yield attributes [1] - The report notes that the recent bottoming of coal prices is likely to drive a revaluation of the sector, presenting both defensive and offensive investment opportunities, and highlights the increased investment value of coal stocks after recent market corrections [1] - The stock performance table shows notable increases in coal-related stocks, with China Tai Fa up 10.05%, Power Development up 4.4%, and China Shenhua up 2.24%, among others [2]

Group 1: Market Overview - The Hang Seng Index closed at 26,765.52, up 16 points or 0.06%, after fluctuating throughout the day, with a high of 26,911 and a low of 26,619 [3][4] - The total market turnover was 261.699 billion, with a net outflow of 0.826 billion from northbound trading [3] - Among the 88 blue-chip stocks, 46 rose while 39 fell, indicating mixed performance in the market [3] Group 2: Macro & Industry Dynamics - The current geopolitical environment is favorable for Hong Kong, enhancing its role as a "super connector" for companies looking to shift from traditional markets to China and Asia [7] - The Hong Kong government has received over 30 applications for company relocations since implementing the mechanism in May last year, with 14 approved, indicating positive market response [8] - The People's Bank of China emphasized the need for proactive macro policies to address economic uncertainties and enhance financial stability [10] Group 3: Company News - Zijin Mining announced a plan to acquire Allied Gold Corporation for approximately 5.5 billion CAD (about 280 billion RMB), expanding its footprint in the gold mining sector [12] - TianShu Intelligent Chip released a roadmap for its fourth-generation architecture, aiming to surpass Nvidia's offerings, with significant performance improvements reported [13] - JD Technology's shopping AI, JoyGlance, has launched on Rokid's smart glasses, marking a significant advancement in AI-driven shopping technology [15]