中国神华10月16日公告，2025年9月煤炭销售量3630万吨，同比下降1.6%。2025年1-9月，公司累计煤炭 销售量3.165亿吨，同比下降8.4%。 ...

证券代码：601088 证券简称：中国神华 公告编号：临 2025-060 中国神华能源股份有限公司 2025 年 9 月份主要运营数据公告 中国神华能源股份有限公司（"本公司"）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。 以上主要运营数据来自本公司内部统计。运营数据在月度之间可能存在较大 差异，其影响因素包括但不限于天气变化、设备检修、季节性因素和安全检查等。 1 运营数据可能与相关期间定期报告披露的数据有差异。投资者应注意不恰当信赖 或使用以上信息可能造成投资风险。 承中国神华能源股份有限公司董事会命 总会计师、董事会秘书 宋静刚 2025 年 10 月 17 日 2 | 运营指标 | 单位 | 2025 | 年 | 2024 | 年 | 同比变化 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | （重述后） | | （%） | | | | | 月 9 | 累计 | 月 9 | 累计 | 月 9 | 累计 | | （一）煤炭 | | | | | ...

Core Insights - China Shenhua (01088) reported a slight increase in commodity coal production for September 2025, with a total of 27.6 million tons, reflecting a year-on-year growth of 0.7% [1] - The company experienced a decrease in coal sales volume, which totaled 36.3 million tons, down 1.6% year-on-year [1] Production and Sales Performance - For the period of January to August 2025, commodity coal production reached 251 million tons, showing a year-on-year decline of 0.4% [1] - Coal sales volume during the same period was 317 million tons, representing a significant decrease of 8.4% year-on-year [1] Transportation and Shipping - In September 2025, the self-owned railway transportation turnover was 27 billion ton-kilometers, marking a year-on-year increase of 13.4% [1] - Shipping cargo volume was recorded at 9.6 million tons, which is a decrease of 15.8% year-on-year [1] Power Generation and Chemical Sales - Total power generation for September 2025 was 18.75 billion kilowatt-hours, down 16.3% year-on-year [1] - Polyethylene sales reached 30,300 tons, reflecting a year-on-year growth of 0.7%, while polypropylene sales were 29,400 tons, up 1.7% year-on-year [1] Factors Influencing Performance - The increase in railway transportation turnover was primarily due to sufficient coal sources along the self-owned railway [1] - The growth in shipping volumes at Huanghua Port and Tianjin coal terminal was attributed to increased resource availability and a low base from the previous year [1] - The decline in shipping cargo volume and turnover was linked to business structure adjustments and changes in shipping routes [1] - The decrease in total power generation and sales was influenced by insufficient electricity demand in certain regions due to weather conditions and increased output from renewable energy sources [1] - The growth in polyethylene and polypropylene sales was mainly due to a low base effect from planned maintenance of coal-to-olefins production equipment in the previous year [1]

Core Viewpoint - China Shenhua (601088) reported its operational data for September, indicating mixed performance in coal production and sales [1] Group 1: Production Data - In September, the company's coal production reached 27.6 million tons, reflecting a year-on-year increase of 0.7% [1] - Cumulative coal production for the first nine months totaled 250.9 million tons, showing a slight decline of 0.4% compared to the previous year [1] Group 2: Sales Data - Coal sales in September amounted to 36.3 million tons, with a year-on-year decrease of 1.6% [1] - Total coal sales for the first nine months were 316.5 million tons, representing a decline of 8.4% year-on-year [1]

Core Insights - The total power generation for China Shenhua in September 2025 was 18.75 billion kWh, with a cumulative total of 162.87 billion kWh, representing a year-on-year decline of 16.3% [1] - The total electricity sales in September were 17.63 billion kWh, with a cumulative total of 153.09 billion kWh, showing a year-on-year decrease of 16.6% [1] Coal Production and Sales - In September, the commodity coal production was 27.6 million tons, with a cumulative total of 251 million tons, reflecting a year-on-year increase of 0.7% [1] - The coal sales volume for September was 36.3 million tons, with a cumulative total of 317 million tons, indicating a year-on-year decline of 1.6% [1] Transportation Metrics - The self-owned railway transportation turnover was 2.7 billion ton-km, with a cumulative total of 23.41 billion ton-km, marking a year-on-year increase of 13.4% [1] - The shipping volume at Huanghua Port was 18.4 million tons, with a cumulative total of 16.5 million tons, showing a year-on-year increase of 13.6% [1] - The shipping volume at Tianjin coal terminal was 3.8 million tons, with a cumulative total of 33.6 million tons, reflecting a year-on-year increase of 15.2% [1] - The shipping freight volume was 9.6 million tons, with a cumulative total of 79.9 million tons, indicating a year-on-year decline of 15.8% [1] - The shipping turnover was 0.95 billion ton-nautical miles, with a cumulative total of 8.24 billion ton-nautical miles, showing a year-on-year decline of 31.2% [1] Coal Chemical Products - The sales volume of polyethylene was 30.3 thousand tons, with a cumulative total of 278.7 thousand tons, reflecting a year-on-year increase of 0.7% [1] - The sales volume of polypropylene was 29.4 thousand tons, with a cumulative total of 254.7 thousand tons, indicating a year-on-year increase of 1.7% [1]

2025 年 9 月，本公司自有鐵路運輸周轉量同比增長的主要原因，是自有鐵路沿 線煤源充足帶來鐵路運量增加；黃驊港裝船量、天津煤碼頭裝船量同比增長的主要原 因，是到港資源量增加及上年同期基數較低；航運貨運量及周轉量同比下降的主要原 因，是業務結構調整、航線結構變化；總發電量、總售電量同比下降的主要原因，是 受天氣影響部分區域用電需求不足、新能源出力增加等。 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。 (在中華人民共和國註冊成立的股份有限公司) (股份代碼: 01088) 2025 年 9 月份主要運營數據公告 (海外監管公告) 中國神華能源股份有限公司（「本公司」）董事會及全體董事保證本公告內容不 存在任何虛假記載、誤導性陳述或者重大遺漏，並對其內容的真實性、準確性和完整 性承擔法律責任。 | | | 2025 | 年 | 2024 | 年 | 同比变化 | | | --- | --- | --- | --- | --- | --- | --- | ...

Summary of Key Points Core Viewpoint - As of October 16, a total of 69 stocks reached their 52-week highs, indicating a positive trend in the market, with notable performances from companies like Jinglian Group, Century United Holdings, and Huisi Pacific. Group 1: Stocks Reaching 52-Week Highs - Jinglian Group (01751) achieved a closing price of 0.890 with a peak of 1.130, marking a high increase rate of 34.52% [1] - Century United Holdings (01959) closed at 0.750, reaching a high of 0.900, with a growth rate of 20.00% [1] - Huisi Pacific (08147) had a closing price of 0.970 and a peak of 0.980, reflecting a 13.95% increase [1] - Other notable stocks include Xiangxing International (01732) with a 13.46% increase and Puleshi Group Holdings (02486) with a 12.06% increase [1] Group 2: Stocks Reaching 52-Week Lows - Jixin Guokong (08629) saw a significant decline, closing at 6.450 with a low of 5.150, resulting in a drop of 35.63% [2] - Qizhan Holdings (01808) closed at 2.990, hitting a low of 2.400, reflecting a decrease of 16.67% [2] - Kun Group (00924) reached a low of 0.184, closing at 0.185, with a decline of 16.36% [2] - Other companies experiencing declines include Hongyang Services (01971) with a 9.82% drop and Xuan Bamboo Biotechnology (02575) with a 9.43% decrease [2]

Core Viewpoint - The coal sector continues to experience an upward trend, driven by supply-side tightening and improving coal price sentiment, with expectations for better demand and pricing in the coming years [1] Group 1: Stock Performance - China Coal Energy (601898) increased by 6.39%, trading at HKD 10.99 - Yanzhou Coal Mining (600188) rose by 3.28%, trading at HKD 11.34 - China Shenhua Energy (601088) saw a 2.36% increase, trading at HKD 40.76 - Yancoal Australia (03668) gained 1.27%, trading at HKD 28.74 [1] Group 2: Industry Analysis - According to Founder Securities, the introduction of production exceeding documents has significantly impacted coal price sentiment, indicating a shift from oversupply to a more balanced supply-demand scenario [1] - The coal demand is expected to rise due to high consumption levels during the summer of 2025, leading to an improved coal supply-demand structure [1] - The gradual implementation of "anti-involution" policies may also restrict imported coal in the future [1] Group 3: Profit Outlook - Guosen Securities noted that while coal prices have been declining and profits for coal companies have been poor in early 2024, a rebound in coal prices is anticipated in the second half of 2025, which could improve profitability for coal enterprises [1] - The fourth quarter is expected to show upward price elasticity for coal, with the coal sector's performance lagging behind other sectors but showing clear bottoming signals [1]

每经AI快讯，煤炭股延续近期上涨，截至发稿，中煤能源(01898.HK)涨6.39%，报10.99港元；兖矿能源 (01171.HK)涨3.28%，报11.34港元；中国神华(01088.HK)涨2.36%，报40.76港元；兖煤澳大利亚 (03668.HK)涨1.27%，报28.74港元。 ...

Core Viewpoint - The Hong Kong coal sector has seen a collective rise in stock prices, driven by increased demand for thermal coal due to a significant drop in temperatures in northern regions, indicating a boost in downstream coal inventory replenishment needs [1] Group 1: Market Performance - China Coal Energy (中煤能源) rose over 6% to a price of 10.980 [1] - China Qinfa (中国秦发) increased nearly 5% to a price of 3.130 [1] - Yanzhou Coal Mining (兖矿能源) saw a rise of over 3% to a price of 11.350 [1] - China Shenhua (中国神华) increased by over 2% to a price of 40.700 [1] - Other companies like Power Development (力量发展) and Yancoal Australia (兖煤澳大利亚) also experienced gains, with increases of over 1% [1] Group 2: Industry Insights - The National Bureau of Statistics reported that the cumulative national raw coal production from January to August 2025 reached 3.165 billion tons, reflecting a year-on-year increase of 2.8% [1] - Due to stricter safety regulations and capacity checks, it is expected that coal production will not see a large-scale release in the fourth quarter [1] - Prices for thermal coal and coking coal have rebounded quarter-on-quarter in Q3 2025, indicating a positive outlook for coal companies' performance in the fourth quarter [1]