Financial Performance - The company reported operating revenue of 213.15 billion yuan for the first three quarters, a year-on-year decrease of 16.6% [2] - Net profit attributable to shareholders was 39.05 billion yuan, down 10% year-on-year [2] - Operating cash flow net amount was 65.25 billion yuan, a decline of 19.9% year-on-year [2] Core Business Progress - Coal sales volume decreased by 8.4% year-on-year to 316.5 million tons, with an average price drop of 13.7% to 487 yuan per ton [3] - Self-produced coal unit cost fell by 7.5% to 173.2 yuan per ton, contributing to a gross margin increase of 1.1 percentage points to 30.5% [3] - Sales revenue from coal dropped by 21.1% year-on-year [3] Power Generation Business - Power generation volume was 16.287 billion kWh, down 5.4% year-on-year, while the average selling price decreased by 4.5% to 382 yuan per MWh [4] - Despite the decline in volume and price, the gross margin for power generation increased by 3.5 percentage points to 19.2% due to lower coal procurement prices [4] - The installed capacity for photovoltaic power generation increased by 264 MW to 1,025 MW, enhancing the share of renewable energy [4] Transportation and Coal Chemical Business - Railway and port operations maintained stability with gross margins of 38.5% and 50% respectively [5] - The shipping business faced profit halving due to a decline in cargo volume [5] - The coal chemical business saw a significant profit increase of 354.5% due to higher sales of polyolefin products, although its scale remains small [5] Asset and Cash Flow Management - The company's cash reserves decreased significantly, primarily due to dividend payments and debt repayments [7] - Short-term borrowings and trading financial assets saw a substantial decline, indicating proactive debt and liquidity management [7] - Cash flow from investment activities narrowed, while cash flow from financing activities expanded due to dividend and debt repayment pressures [7] Development Strategy and Future Outlook - The company continues to lead in coal-electricity integration, with strong capabilities in cost control and industry chain collaboration [8] - The acquisition of Hangjin Energy in February 2025 further solidified coal resources and power generation capacity [8] - Market expectations are affected by the greater-than-expected decline in coal prices, which has put dual pressure on revenue and profit [9] - The company’s integrated advantages in cost control are evident, with non-coal businesses (coal chemical and renewable energy) expected to become new growth points in the future [11] Future Focus Areas - Monitoring signals for stabilization in coal prices and sales volume [12] - Trends in power generation utilization hours and electricity prices [12] - Progress and profitability of renewable energy and coal chemical expansions [12] - Sustainability of cash flow and dividend policies [12] - Continuous release of cost control and integrated synergy effects [12]

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) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而 做出。 茲載列中國神華能源股份有限公司於 2025 年 10 月 25 日在上海證券 交易所網站(www.sse.com.cn)刊登的「關於第六屆董事會第十四次會 議決議的公告」文件，僅供參閱。 承董事會命 中國神華能源股份有限公司 總會計師、董事會秘書 宋靜剛 北京，2025 年 10 月 24 日 於本公告日期，董事會成員包括執行董事張長岩先生，非執行董事康 鳳偉先生及李新華先生，獨立非執行董事袁國強博士、陳漢文博士及 王虹先生，職工董事焦蕾女士。 1 证券代码：601088 证券简称：中国神华 公告编号：临 2025-064 中国神华能源股份有限公司 关于第六届董事会第十四次会议决议的公告 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 ...

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） 持續關連交易 2026-2028年持續關連交易框架協議 2026-2028年持續關連交易框架協議 茲提述本公司日期為2022年10月28日及2025年7月25日之公告。本公司於2022 年10月28日與代表國鐵集團公司的太原鐵路局訂立2023年－2025年持續關連交 易框架協議，內容有關（其中包括）本集團與國鐵集團相互提供運輸服務、出售 煤炭及提供其他產品及服務。為支持本集團開展新的物流業務模式、增加運輸 收入，董事會於2025年7月25日決議將2023年－2025年持續關連交易框架協議 項下截至2025年12月31日止年度本集團向國鐵集團提供各類產品和服務的總收 入年度上限相應由人民幣74億元提升至人民幣150億元。2023-2025年持續關連 交易框架協議有效期將於2025年12月31日屆滿。 於2025年10月24日，董事會批准本 ...

Financial Performance - Total revenue for the nine months ended September 30, 2025, was RMB 213,151 million, a decrease of 16.6% compared to RMB 255,475 million in the same period last year[7]. - Net profit attributable to the company's owners for the same period was RMB 41,366 million, down 13.8% from RMB 47,978 million year-on-year[7]. - Basic earnings per share decreased to RMB 2.082, a decline of 13.8% from RMB 2.546 in the previous year[7]. - Operating cash flow for the nine months was RMB 65,253 million, reflecting a decrease of 19.9% compared to RMB 81,474 million in the same period last year[7]. - The company reported a net profit of RMB 49,719 million for the first nine months of 2025, down 11.8% from RMB 56,393 million in 2024[43]. - Pre-tax profit decreased to RMB 61,850 million, a decline of 10.5% from RMB 68,838 million in 2024[42]. - Gross profit for the same period was RMB 67,675 million, down 13.0% from RMB 77,643 million in 2024[42]. Revenue and Sales - The company reported a decrease in coal sales volume and average selling prices, contributing to the overall decline in revenue[13]. - In the first nine months of 2025, the company reported a total revenue of RMB 159,099 million, a decrease of 21.1% compared to RMB 201,598 million in the same period of 2024[28]. - The total coal sales volume for the first nine months of 2025 was 316.5 million tons, down 8.4% from 345.6 million tons in the same period of 2024[23]. - The average selling price of coal in the first nine months of 2025 was RMB 487 per ton, a decrease of 13.7% from RMB 564 per ton in the same period of 2024[27]. - The company's revenue for the first nine months of 2025 was RMB 65,179 million, a decrease of 9.0% compared to RMB 71,663 million in the same period of 2024, primarily due to a decline in electricity sales volume and average selling price[38]. Costs and Expenses - Operating costs decreased by 18.2% to RMB 145,476 million, primarily due to lower procurement costs for purchased coal[13]. - Operating costs for the same period were RMB 53,180 million, down 12.5% from RMB 60,806 million, attributed to a decrease in electricity sales volume and lower coal procurement prices[38]. - Research and development expenses for the nine months were RMB 1,340 million, a decrease of 23.1% from RMB 1,742 million in the previous year[13]. - The company reported a decrease in coal production costs, with unit production costs for self-produced coal at RMB 164.4 per ton, down from RMB 169.6 per ton[32]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 646,427 million, down 3.8% from RMB 671,639 million at the end of the previous year[9]. - Current liabilities decreased to RMB 97,470 million from RMB 105,116 million at the end of 2024, reflecting a reduction of 7.8%[46]. - Cash and cash equivalents decreased by 27.6% to 48,053 million as dividends for the year-end 2024 were paid[15]. Investments and Cash Flow - The company's investment activities saw a net cash outflow of 8,880 million, a significant decrease of 83.0% compared to the previous year due to the redemption of structured deposit products[16]. - Net cash inflow from operating activities decreased by 19.9% to 65,253 million, attributed to a decline in revenue from coal and power generation businesses[16]. - Cash received from borrowings in 2025 was RMB 4,554 million, a decrease from RMB 10,479 million in 2024[50]. - The company paid dividends to shareholders amounting to RMB 44,903 million in both 2025 and 2024, indicating a stable dividend policy[50]. Production and Capacity - The total coal production for the first nine months of 2025 was 250.9 million tons, slightly down by 0.4% from 251.8 million tons in the same period of 2024[23]. - The total electricity generation in the first nine months of 2025 was 162.87 billion kWh, down 5.4% from 172.25 billion kWh in the same period of 2024[23]. - The total installed capacity of the company's power generation units reached 48,681 MW, with coal-fired generation capacity accounting for 93.2% at 45,384 MW[34]. - The company added 1,000 MW of coal-fired generation capacity during the first nine months of 2025, primarily from the commissioning of the third unit of the expansion project at its wholly-owned subsidiary[34].

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的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的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年第二次臨時股東會之投票結果 本公司於2025年10月24日（星期五）下午二時三十分在中華人民共和國北京市朝 陽區鼓樓外大街19號歌華開元大酒店二層和廳舉行2025年第二次臨時股東會。本 公司董事會欣然宣佈，上述臨時股東會之通告所載全部決議案已獲正式通過。 1. 考慮及酌情通過本公司截至2025年6月30日止六個月之中期利潤分配的議 案：擬分配截至2025年6月30日止六個月之中期股息每股人民幣0.98元（含 稅），共計約人民幣19,471百萬元（含稅）。 | 股東類型 | | | 有效票數（佔全部有效票數百分比） | | | | | --- | --- | --- | --- | --- | --- | --- | | | 贊成 | | 反對 | | 棄權 | | | | 票數 | 比例(%) | 票數 | 比例(%) | ...

转自：智通财经 【中国神华：第三季度净利润同比下降6.2% 煤炭销售量及平均销售价格下降导致煤炭销售收入下降】 智通财经10月24日电，中国神华(601088.SH)公告称，第三季度净利润144.11亿元，同比下降6.2%；前三 季度净利润390.52亿元，同比下降10%。营业收入主要变动原因为煤炭销售量及平均销售价格下降导致 煤炭销售收入下降；售电量及平均售电价格下降导致售电收入下降。 ...

Group 1 - The core point of the article is that China Shenhua (SH 601088) held its 14th meeting of the 6th board of directors on October 24, 2025, to review the financial report for Q3 2025 [1] - For the first half of 2025, the revenue composition of China Shenhua was as follows: coal segment accounted for 75.23%, power generation segment 29.35%, railway segment 15.52%, port segment 2.51%, and coal chemical segment 2.11% [1] - As of the report date, China Shenhua's market capitalization was 844.4 billion yuan [1]

周五，煤炭巨头中国神华发布三季度业绩，以下是核心要点： 第三季度单季归母净利润144.1亿元，同比下降6.2%；前三季度归母净利润390.5亿元，同比下降 10.0%； 前三季度营收2131.5亿元，同比下降16.6%；毛利率36.1%，同比提升2.6个百分点； 经营性现金流652.5亿元，同比下降19.9%；基本每股收益1.965元，加权平均ROE为9.35%； 核心业务进展： 煤炭业务： 前三季度销售3.165亿吨（降8.4%），平均售价487元/吨（降13.7%）；自产煤毛利率 39.7%，同比下降3.1个百分点 发电业务： 售电量1,531亿千瓦时（降5.5%），平均售电价382元/兆瓦时（降4.5%）；毛利率19.2%， 同比提升3.5个百分点 装机容量： 总装机48,681兆瓦，新增1,217兆瓦，其中燃煤发电占比93.2% 持续更新中 ...

中国神华能源股份有限公司 内幕信息及知情人登记管理办法 （本办法于二〇一〇年十二月二十日由本公司第二届董事 会第九次会议审议批准，并于二〇一二年三月二十三日由本公司 第二届董事会第二十三次会议修订，于二〇一九年一月二十九日 由本公司第四届董事会第十七次会议修订，于二〇二〇年八月二 十八日由本公司第五届董事会第三次会议修订，于二〇二一年三 月二十六日由本公司第五届董事会第六次会议修订，于二〇二五 年十月二十四日由本公司第六届董事会第十四次会议修订） 第一章 总则 第一条 根据《中华人民共和国证券法》《上市公司监管指 引第 5 号——上市公司内幕信息知情人登记管理制度》《上海证 券交易所上市公司自律监管指引第 2 号——信息披露事务管理》 及《国家能源集团内幕信息知情人登记工作细则》（国家能源制 度〔2024〕17 号）、《国家能源集团内幕信息管理与内幕交易 综合防控办法》（国家能源制度〔2024〕18 号）的要求，为落 实中国神华能源股份有限公司（以下简称公司或中国神华）内幕 信息及知情人登记管理工作，维护信息披露公开、公平、公正， 防止内幕交易对公司、员工及其他利益相关人的不利影响，制定 本办法。 — 1 — ...

中国神华能源股份有限公司 信息披露及重大事项内部报告管理办法 本办法于二〇〇五年三月二十七日由公司第一届董事会第 三次会议审议通过，于二〇〇八年三月十五日经公司第一届董事 会第十九次会议修订，于二〇一〇年三月四日经公司第一届董事 会第三十九次会议修订，于二〇一九年一月二十九日经公司第四 届董事会第十七次会议修订，于二〇二〇年八月二十八日经公司 第五届董事会第三次会议修订，于二〇二四年十月二十五日经公 司第六届董事会第三次会议修订，于二〇二五年十月二十四日经 公司第六届董事会第十四次会议修订。 | | | 第一章 总则 第一条 为规范中国神华能源股份有限公司（以下简称公司 或本公司）信息披露及重大事项内部报告的行为，确保信息披露 的统一、真实、准确、完整、及时和公平，保护公司及其股东、 债权人及其他利益相关人员的合法权益，根据《中华人民共和国 公司法》《中华人民共和国证券法》（以下简称《证券法》）《上市 公司信息披露管理办法》《境内企业境外发行证券和上市管理试 行办法》《上市公司治理准则》，《上海证券交易所股票上市规则》 及上海证券交易所上市公司自律监管指南、指引，《香港证券及 期货条例》《香港联合交易所有限公 ...