郑州煤电股份有限公司2025 年半年度报告 公司代码：600121 公司简称：郑州煤电 郑州煤电股份有限公司 2025 年半年度报告 1 / 157 郑州煤电股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人余乐峰、主管会计工作负责人房敬及会计机构负责人（会计主管人员）房敬声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 否 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 作为我国重要的一次性能源，煤炭 ...

证券代码：600121 证券简称：郑州煤电 公告编号：临 2025-033 郑州煤电股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 9 月 12 日（星期五）10:00-11:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：网络文字互动 投资者可于 2025 年 9 月 5 日（星期五）至 9 月 11 日（星期四）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zce600121@163.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 郑州煤电股份有限公司（以下简称公司）已于 2025 年 8 月 28 日 发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解 公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 ...

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。 为拓宽融资渠道，进一步盘活资产，提升运营能力，郑州煤电股 份有限公司（以下简称公司）拟与中煤科工金融租赁股份有限公司（以 下简称中煤金租）通过售后回租的方式开展融资租赁业务。具体情况 如下： 一、融资租赁情况概述 证券代码：600121 证券简称：郑州煤电 公告编号：临 2025-032 郑州煤电股份有限公司 关于与中煤金租开展融资租赁业务的公告 公司拟用部分设备类资产，以售后回租方式与中煤金租开展融资 租赁业务，融资额度不超过人民币 5000 万元（含 5000 万元），融资 期限不超过 3 年。 二、交易对方基本情况 1.公司全称：中煤科工金融租赁股份有限公司 2.企业类型：股份有限公司 4.法定代表人：王志刚 5.注册资本：98000 万元人民币 6.成立日期：2017 年 9 月 30 日 1 7.经营范围：融资租赁业务；转让和受让融资租赁资产；固定收 益类证券投资业务；接受承租人的租赁保证金；吸收非银行股东 3 个 月（含）以上定期存款；同业拆借；向金融机构借款；境外借 ...

Core Points - Zhengzhou Coal Electricity announced a revenue of 1.838 billion yuan for the first half of 2025, representing a year-on-year decline of 15.01% [1] - The company reported a net loss of 224 million yuan, compared to a net profit of 10.3842 million yuan in the same period last year [1]

Market Performance - On August 26, the Henan state-owned enterprise reform sector rose by 0.12% compared to the previous trading day, with Tai Long Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down by 0.39%, while the Shenzhen Component Index closed at 12473.17, up by 0.26% [1] Individual Stock Performance - Tai Long Pharmaceutical (600222) closed at 7.24, up by 5.39% with a trading volume of 541,000 shares and a turnover of 385 million yuan [1] - Other notable performers included: - Shenma Co. (600810) at 9.57, up by 2.46% [1] - Zhengzhou Coal Electricity (600121) at 4.26, up by 2.16% [1] - Senyuan Electric (002358) at 5.61, up by 2.00% [1] - Chengfa Environment (000885) at 15.49, up by 1.77% [1] Capital Flow Analysis - The Henan state-owned enterprise reform sector experienced a net outflow of 198 million yuan from institutional investors, while retail investors saw a net inflow of 149 million yuan [2] - The capital flow for individual stocks showed: - Senyuan Electric had a net inflow of 26.71 million yuan from institutional investors [3] - Zhengzhou Coal Electricity saw a net inflow of 24.30 million yuan from institutional investors [3] - Tai Long Pharmaceutical had a net inflow of 15.11 million yuan from institutional investors [3]

Core Viewpoint - Zhengzhou Coal Electricity Co., Ltd. has experienced a decline in revenue and net profit in the latest quarterly report, indicating potential challenges in its financial performance [1][2]. Financial Performance - As of the first quarter of 2025, the company reported total operating revenue of 9.67 billion RMB, a year-on-year decrease of 15.05% [1]. - The net profit attributable to shareholders was 602.01 million RMB, down 277.98% year-on-year [1]. - The non-recurring net profit was 649.68 million RMB, reflecting a year-on-year decrease of 298.81% [1]. - The current ratio was 0.462, and the quick ratio was 0.453, indicating liquidity concerns [1]. - The debt-to-asset ratio stood at 77.87%, suggesting a high level of leverage [1]. Stock Performance - As of August 25, 2025, the stock price closed at 4.17 RMB, with an increase of 0.97% [1]. - The turnover rate was 3.47%, with a trading volume of 422,600 hands and a transaction amount of 176 million RMB [1]. - There was a net outflow of main funds amounting to 10.49 million RMB, accounting for 5.97% of the transaction amount [1]. Company Overview - Zhengzhou Coal Electricity Co., Ltd. was established in 1997 and is primarily engaged in the production and supply of electricity and heat [2]. - The company has a registered capital of 12.18 billion RMB and a paid-in capital of 2.2 billion RMB [1]. - The legal representative of the company is Yu Lefeng [1]. Investment Activities - The company has made investments in 19 enterprises and participated in 973 bidding projects [2]. - It holds 18 patents and has obtained 15 administrative licenses [2].

Core Viewpoint - The successful launch of the Li Jiazai No. 6 station marks a significant step in optimizing the coal logistics system in Henan Province, enhancing the efficiency of the energy supply chain [1][2]. Company Overview - The Li Jiazai No. 6 station is a collaborative project between Zhongping Supply Chain Management Co., Ltd. and Zhengzhou Coal Group, aiming to leverage the strengths of state-owned and private enterprises [1][2]. - Zhongping Supply Chain is a joint venture formed by Pingmei Shenma Group and Ruimaotong, focusing on improving coal logistics and supply chain management [1][2]. Operational Details - The station has a usage area of nearly 6,000 square meters, with 11 loading positions and an annual coal transportation capacity exceeding 500,000 tons [3]. - The station's strategic location connects major railways, facilitating efficient coal transportation from Shanxi to central and southern China [3]. Technological Advancements - The station features an automated blending machine capable of processing 400 tons of coal per hour, significantly improving efficiency and accuracy compared to manual blending [4]. - The blending process is crucial for optimizing coal quality and reducing emissions, aligning with stricter environmental standards [4]. Strategic Goals - The project aims to establish a recognizable brand for high-end coal blending in Henan, combining resources from Pingmei Shenma Group and Zhengzhou Coal Group with Shanxi's high-quality coal [5][6]. - Future plans include enhancing collaboration among partners to ensure efficient operations and promoting green logistics practices [6]. Industry Context - The coal industry is undergoing transformation under the "dual carbon" goals, necessitating improved supply chain coordination and sustainable practices [2][6]. - The establishment of the Li Jiazai No. 6 station serves as a model for cooperation among state-owned enterprises in navigating complex economic environments [2].

Group 1 - The core viewpoint of the news is that Zhengzhou Coal Electricity Co., Ltd. has experienced a decline in both revenue and net profit in its latest quarterly report, indicating potential financial challenges ahead [1][3] - As of August 14, 2025, Zhengzhou Coal Electricity's stock closed at 4.04 yuan, down 2.42%, with a trading volume of 391,200 hands and a transaction amount of 159 million yuan [1] - The company's main capital flow shows a net outflow of 40.96 million yuan, accounting for 25.69% of the transaction amount, with significant outflows from large orders [1] Group 2 - For the first quarter of 2025, Zhengzhou Coal Electricity reported total operating revenue of 967 million yuan, a year-on-year decrease of 15.05%, and a net profit attributable to shareholders of 60.20 million yuan, down 277.98% year-on-year [1] - The company's liquidity ratios are concerning, with a current ratio of 0.462 and a quick ratio of 0.453, alongside a high debt ratio of 77.87% [1] - Zhengzhou Coal Electricity has made investments in 19 companies and participated in 973 bidding projects, indicating active engagement in the market [2]

Market Overview - The Shanghai Composite Index is at 3701.99 points, with a change of +0.50% [1] - The total trading volume of A-shares is 103.51 billion yuan [1] Technical Analysis - 96 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Dengyun Co., Ltd. (002715) with a distance of -1.02% [1] - United Chemical (301209) with a distance of -0.93% [1] - Guangsheng Nonferrous (600259) with a distance of -0.79% [1] Individual Stock Performance - Dengyun Co., Ltd. (002715) has decreased by 2.88% with a latest price of 16.87 yuan [1] - United Chemical (301209) has decreased by 0.17% with a latest price of 92.78 yuan [1] - Guangsheng Nonferrous (600259) has decreased by 0.81% with a latest price of 58.82 yuan [1] - Other notable stocks with declines include: - Guoneng Rixin (301162) down 2.29% [1] - Daqian Energy (688303) down 2.44% [1] - Yijiahe (603666) down 0.43% [1] Additional Stock Data - Stocks with minor declines include: - Ningbo Bank (002142) up 0.25% with a latest price of 28.25 yuan [2] - Huayang New Materials (600281) down 0.59% with a latest price of 6.75 yuan [2] - The overall trend indicates a cautious market sentiment with several stocks experiencing downward pressure [1][2]

Core Viewpoint - Zhengzhou Coal Electricity Co., Ltd.'s Chao Hua Coal Mine has received an administrative penalty for failing to report a production safety accident in accordance with the Safety Production Law of the People's Republic of China [1][2][3] Group 1: Administrative Penalty Details - The penalty decision number is (Xinmi) Emergency Fine (2025) Law Enforcement No. 006 [2] - The penalty imposed is a fine of 29,000 RMB (approximately 4,000 USD) [2][3] - The penalty was issued by the Xinmi Emergency Management Bureau on July 28, 2025 [2][3] Group 2: Violations and Legal Basis - The violation pertains to the failure to timely and truthfully report a production safety accident as per Article 21, Item 7 of the Safety Production Law [2][3] - The legal basis for the penalty is Article 94, Paragraph 1 of the Safety Production Law, which stipulates fines for failure to fulfill safety management responsibilities [3] Group 3: Company Background - Zhengzhou Coal Electricity Co., Ltd. was established in 1997 and is primarily engaged in coal production and sales, with an annual production capacity of nearly 10 million tons [5][6] - The company is listed on the Shanghai Stock Exchange under the stock code 600121, with a closing price of 4.25 RMB as of August 6, 2025 [6]