证券代码：601088 证券简称：中国神华 公告编号：临 2025-031 中国神华能源股份有限公司 关于 2025 年度"提质增效重回报"行动方案的公告 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。 为全面落实国务院《关于进一步提高上市公司质量的意见》《关于加强监管 防范风险推动资本市场高质量发展的若干意见》要求，积极响应上海证券交易所 《关于开展沪市公司"提质增效重回报"专项行动倡议》，结合公司实际，中国 神华能源股份有限公司（以下简称公司）制定了《2025 年度"提质增效重回报" 行动方案》。 2025 年，公司将坚持"稳中求进、安全为本、创新引领、高质发展"工作 方针，全力抓实能源保供，坚定推进转型发展，强化科技创新赋能，充分发挥上 市公司平台作用，统筹推动公司高质量发展和投资价值提升，确保公司"十四五" 1 完美收官和"十五五"顺利开局。 一、指导思想 以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大、二十 届历次全会和中央经济工作会议精神，以及习近平总书记关于国企改革发展和资 本市 ...

北京市金杜律师事务所 关于 中国神华能源股份有限公司 2024 年度股东周年大会、 2025 年第一次 A 股类别股东会及 2025 年第一次 H 股类别股东会的 法律意见书 致：中国神华能源股份有限公司 北京市金杜律师事务所（以下简称本所）接受中国神华能源股份有限公司（以 下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、《中 华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会（以下简 称中国证监会）《上市公司股东会规则》（以下简称《股东会规则》）等中华人民共 和国境内（以下简称中国境内，为本法律意见书之目的，不包括中国香港特别行 政区、中国澳门特别行政区和中国台湾省）现行有效的法律、行政法规、部门规 章、规范性文件（以下统称法律法规）和现行有效的《中国神华能源股份有限公 司章程》（以下简称《公司章程》）有关规定，指派律师出席了公司于 2025 年 6 月 20 日召开的 2024 年度股东周年大会、2025 年第一次 A 股类别股东会及 2025 年第一次 H 股类别股东会（以下合称本次股东会），并就本次股东会相关事项出 具本法律意见书。 为出具本法律意见书，本所律师查 ...

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。 重要内容提示： 证券代码：601088 证券简称：中国神华 公告编号：临2025-029 中国神华能源股份有限公司 2024年度股东周年大会、2025 年第一次 A 股类别 股东会及 2025 年第一次 H 股类别股东会 决议公告 2024 年度股东周年大会、2025 年第一次 A 股类别股东会及 2025 年第一次 H 股类别股东会（"本次股东大会"）是否有否决议案：无 一、 会议召开和出席情况 | 1、出席 年度股东周年大会（"股东周年大会"）的股东 2024 | 2,996 | | --- | --- | | 和代理人人数 | | | 其中：A 股股东人数 | 2,995 | | 境外上市外资股股东人数（H 股） | 1 | | 2、出席股东周年大会的股东所持有表决权的股份总数（股） | 14,612,088,395 | | 其中：A 股股东持有股份总数 | 14,268,827,306 | | 境外上市外资股股东持有股份总数（H 股） | 343,261,089 | | ...

中国神华能源股份有限公司（"公司"）第六届监事会第六次会议于2025年6月10 日以电子邮件及无纸化办公系统方式向全体监事发送了会议通知、议程、议案等会议材 料，并于2025年6月20日在北京歌华开元大酒店以现场方式召开。会议应出席监事3人， 亲自出席监事2人，袁锐监事因公请假，委托唐超雄出席并代为投票。会议由监事会主 席唐超雄召集并主持。公司董事会秘书和高级管理人员列席会议。会议的召开符合《中 华人民共和国公司法》及相关法律法规、上市地上市规则和《中国神华能源股份有限公 司章程》的规定。 经充分讨论及审议，会议通过《关于取消监事会并修订〈中国神华能源股份有限公 司章程〉的议案》。 同意以特别决议案形式，由公司董事会审议同意后，提请公司股东大会审议取消公 司监事会、变更经营范围及按照《中国神华能源股份有限公司章程修正案》修改《中国 神华能源股份有限公司章程》。 表决情况：有权表决票3票，同意3票、反对0票、弃权0票，通过。 证券代码：601088 证券简称：中国神华 公告编号：临2025-032 中国神华能源股份有限公司 关于第六届监事会第六次会议决议的公告 中国神华能源股份有限公司监事会及全体监事保证本公告 ...

证券代码：601088 证券简称：中国神华 公告编号：临 2025-030 中国神华能源股份有限公司 关于第六届董事会第十次会议决议的公告 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。 中国神华能源股份有限公司（"公司"或"中国神华"）第六届董事会第十 次会议于 2025 年 6 月 6 日以电子邮件或无纸化办公系统方式向全体董事和监事 发送了会议通知，于 2025 年 6 月 10 日发送了议程、议案等会议材料，并于 2025 年 6 月 20 日在北京歌华开元大酒店以现场方式召开。会议应出席董事 7 人，亲 自出席董事 6 人，委托出席董事 1 人。非执行董事李新华因公请假，委托非执行 董事康凤伟代为出席会议并投票。会议由执行董事张长岩召集并主持。董事会秘 书宋静刚参加会议，部分监事和高级管理人员列席会议。会议的召开符合《中华 人民共和国公司法》及相关法律法规、上市地上市规则和《中国神华能源股份有 限公司章程》的规定。 本次会议审议并通过以下议案： （一）《关于取消监事会并修订〈中国神华能源股份有限公 ...

Core Viewpoint - The Invesco Great Wall CSI National New Hong Kong Stock Connect Central Enterprise Dividend ETF (520990) has shown significant growth in both share count and asset size in 2024, indicating strong investor interest and market performance [1][2]. Fund Overview - The fund was established on June 26, 2024, with a management fee of 0.50% and a custody fee of 0.10% [1]. - As of June 17, 2024, the fund's total shares stood at 4.891 billion, with a total asset size of 4.895 billion yuan [1]. - Year-to-date, the fund's shares have increased by 30.56%, and its asset size has grown by 39.80% compared to December 31, 2023 [1]. Liquidity Metrics - Over the last 20 trading days, the fund has recorded a cumulative trading volume of 1.455 billion yuan, with an average daily trading volume of 72.73 million yuan [1]. Fund Management - The current fund managers are Zhang Xiaonan and Gong Lili, with respective returns of 0.05% and 12.22% during their management periods [2]. Top Holdings - The fund's major holdings include: - China Mobile: 11.04% of the portfolio, valued at 529 million yuan - China Petroleum: 10.43%, valued at 499 million yuan - COSCO Shipping: 10.25%, valued at 491 million yuan - CNOOC: 10.01%, valued at 479 million yuan - China Shenhua: 8.89%, valued at 426 million yuan - Sinopec: 8.21%, valued at 393 million yuan - China Telecom: 5.39%, valued at 258 million yuan - China Unicom: 3.65%, valued at 175 million yuan - China Coal Energy: 2.38%, valued at 114 million yuan - China Merchants Bank: 2.33%, valued at 112 million yuan [3].

2025 年 5 月，本公司煤炭销售量同比下降的主要原因，是下游煤炭需求偏 弱、受煤炭销售结算进度影响；航运货运量、周转量同比下降的主要原因，是业 务结构调整、航线结构变化；聚乙烯、聚丙烯销售量同比增长的主要原因，是上 年同期煤制烯烃生产设备按计划检修导致基数较低。 证券代码：601088 证券简称：中国神华 公告编号：临 2025-028 中国神华能源股份有限公司 2025 年 5 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。 | 运营指标 | 单位 | 2025 | 年 | 2024 | 年 | 同比变化 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | （重述后） | | （%） | | | | | 月 5 | 累计 | 月 5 | 累计 | 月 5 | 累计 | | （一）煤炭 | | | | | | | | | 1. 商品煤产量 | 百万吨 | 28.0 | 137.8 | 28.4 ...

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The current phase is seen as the beginning of a new upward cycle in the coal economy, with a resonance between fundamentals and policies, making it an opportune time to accumulate coal sector assets [10][11] - The coal supply side is experiencing a contraction, with a decrease in coal mine capacity utilization rates, while demand is expected to recover, leading to a potential rebound in coal prices [10][11] - The report emphasizes the importance of high-quality coal companies that exhibit strong profitability, cash flow, return on equity (ROE), and dividends, which are expected to remain attractive investments [10][11] Summary by Sections 1. Coal Prices - As of June 14, the market price for Qinhuangdao port thermal coal (Q5500) is 610 CNY/ton, a decrease of 1 CNY/ton week-on-week [2][29] - The price for coking coal at Jing Tang port is reported at 1250 CNY/ton, down 40 CNY/ton from the previous week [31] 2. Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 94%, down 1 percentage point week-on-week, while coking coal mines have a utilization rate of 83.71%, down 0.9 percentage points [10][46] - Daily coal consumption in inland provinces has decreased by 9.50 thousand tons/day (-3.03%) and in coastal provinces by 0.30 thousand tons/day (-0.17%) [10][47] 3. Coal Inventory and Transportation - As of June 12, coal inventory in inland provinces has decreased by 12.60 thousand tons, while coastal provinces saw an increase of 38.50 thousand tons [47] - The report notes that the daily coal consumption is in the early stages of a seasonal increase, indicating a potential recovery in demand [10] 4. Investment Recommendations - The report suggests focusing on stable and high-performing companies such as China Shenhua, Shaanxi Coal, and others, while also considering companies with high elasticity like Yanzhou Coal and Guohua Energy [11][12]

Group 1: Market Overview - The FTSE China A50 index component stocks showed a general decline in bank stocks while the oil industry demonstrated strength [1] Group 2: Insurance Sector - China Life Insurance, China Pacific Insurance, and Ping An Insurance reported market capitalizations of 375.90 billion, 345.08 billion, and 992.28 billion respectively, with trading volumes of 5.26 million, 15.94 million, and 4.92 million [4] - The stock performance for these companies was as follows: China Life -0.19 (-0.53%), China Pacific -0.32 (-0.58%), and Ping An +0.02 (+0.24%) [4] Group 3: Alcohol Industry - Major players in the liquor sector include Kweichow Moutai, Wuliangye, and Shanxi Fenjiu, with market capitalizations of 1795.74 billion, 209.72 billion, and 464.08 billion respectively, and trading volumes of 8.59 million, 30.41 million, and 53.76 million [4] - Stock changes were reported as follows: Kweichow Moutai -29.49 (-2.02%), Wuliangye -2.94 (-2.40%), and Shanxi Fenjiu -1.94 (-1.12%) [4] Group 4: Semiconductor Sector - Key companies include Northern Huachuang, Haiguang Information, and Cambrian Technology, with market capitalizations of 218.37 billion, 251.15 billion, and 316.16 billion respectively, and trading volumes of 13.82 million, 14.05 million, and 13.86 million [4] - Stock performance was as follows: Northern Huachuang +4.57 (+1.13%), Haiguang Information -3.18 (-0.53%), and Cambrian Technology -0.07 (-0.05%) [4] Group 5: Automotive Sector - Notable companies include BYD, Great Wall Motors, and Beijing-Shanghai High-Speed Railway, with market capitalizations of 280.83 billion, 1039.06 billion, and 185.40 billion respectively, and trading volumes of 49.75 million, 4.26 million, and 2.68 million [4] - Stock changes were reported as follows: BYD -11.34 (-3.21%), Great Wall Motors -0.46 (-2.08%), and Beijing-Shanghai High-Speed Railway +0.02 (+0.35%) [4] Group 6: Oil Industry - Major companies include COSCO Shipping, Sinopec, and China National Petroleum, with market capitalizations of 252.95 billion, 721.41 billion, and 1643.53 billion respectively, and trading volumes of 7.68 million, 15.71 million, and 11.47 million [4] - Stock performance was as follows: COSCO Shipping +0.06 (+1.02%), Sinopec +0.10 (+1.13%), and China National Petroleum +0.41 (+2.58%) [4] Group 7: Coal Industry - Key players include China Shenhua, Shaanxi Coal and Chemical Industry, and CATL, with market capitalizations of 781.23 billion, 192.64 billion, and 1127.70 billion respectively, and trading volumes of 22.00 million, 6.00 million, and 4.30 million [4] - Stock changes were reported as follows: China Shenhua -2.47 (-0.99%), Shaanxi Coal +0.30 (+0.77%), and CATL +0.15 (+0.76%) [4] Group 8: Food and Beverage Sector - Companies such as CITIC Securities, Guotai Junan, and Haitian Flavoring reported market capitalizations of 390.23 billion, 322.27 billion, and 227.37 billion respectively, with trading volumes of 11.01 million, 15.22 million, and 5.98 million [5] - Stock performance was as follows: CITIC Securities -0.11 (-0.42%), Guotai Junan -0.15 (-0.81%), and Haitian Flavoring -0.40 (-0.97%) [5]

Core Viewpoint - The article highlights the strong rebound of Chinese enterprises in overseas financing, particularly through Hong Kong IPOs, driven by international long-term capital interest and favorable market conditions [1][3][4]. Group 1: Overseas Financing Trends - In 2024, Chinese enterprises' overseas financing reached $44 billion, doubling from $19.5 billion in 2023, indicating a recovery trend despite still being below the historical average of $75 billion [3]. - By the first quarter of 2025, overseas financing for Chinese enterprises was approximately $42 billion, surpassing the total for 2024 [3]. - The Hong Kong IPO market showed significant growth, with financing amounts increasing from $5.9 billion in 2023 to $11.3 billion in 2024, and an expected $13 billion in the first half of 2025 [3]. Group 2: Market Performance and Investor Sentiment - The Hong Kong market experienced a strong recovery in three phases: a 17% rise in the first quarter, a brief downturn in April due to trade tensions, and a rebound in May to June, with a cumulative increase of 22% for the year [3][8]. - International long-term investors' participation in Hong Kong IPOs has significantly increased, with some projects seeing over 20 international funds involved, compared to 3-5 in previous years [6]. - The average return for IPOs in Hong Kong in 2025 is projected to be 37%, with 70% of projects yielding positive returns, a notable increase from 40% in 2024 [7]. Group 3: Factors Driving Market Recovery - The recovery of the Hong Kong market is attributed to several factors, including favorable Chinese economic policies, technological advancements, and improved investor confidence [7]. - The willingness of companies to list in Hong Kong has surged, with 44 A-share companies announced for listing in Hong Kong in 2025, reflecting a strong demand for overseas financing [7]. - The daily trading volume in the Hong Kong market increased from approximately HKD 1 trillion in 2024 to between HKD 2 trillion and 3 trillion in 2025, with 70% of this volume coming from international funds [6][7].