兰花科创（600123）(600123.SH)公告，公司取得山西省自然资源厅颁发的阳城县寺头区块煤炭探矿权 证。权证记载勘察面积为15.4903平方公里，有效期限自2025年12月12日至2030年12月12日。 ...

山西兰花科技创业股份有限公司 独立董事专门会议 2025 年第五次会议审核意见 山西兰花科技创业股份有限公司（以下简称"公司"） 独立董事专门会议 2025 年第五次会议于 2025 年 12 月 15 日 以通讯方式召开，本次会议应参加独立董事 3 名，实际参加 独立董事 3 名。本次会议的召集、召开和表决程序符合《上 市公司独立董事管理办法》、《上海证券交易所股票上市规 则》、《上海证券交易所上市公司自律监管指引第 1 号——规 范运作》和《公司章程》、《独立董事制度》的相关规定。经 与会独立董事认真审议，形成决议并发表审核意见如下： 一、关于预计 2026 年度日常关联交易的议案； 审核意见：公司 2025 年 1-11 月份实际发生的日常关联 交易总额为 173,207.03 万元，2025 年预计金额为 330,188.67 万元，实际发生额未超过年初预计金额。公司日常关联交易 均为满足正常生产经营的需要，与关联方之间的交易遵循平 等自愿原则，交易定价公允，不存在损害公司及全体股东特 别是中小股东利益的情形。 根据日常经营需要，公司对 2026 年日常关联交易进行了 合理预计，共计 331,376. ...

兰花科创公告，为进一步拓宽融资渠道，优化财务结构，满足企业经营发展资金需求，公司拟向符合 《公司债券发行与交易办法》规定的专业投资者公开发行公司债券。本次债券发行总规模不超过人民币 30亿元（含30亿元），期限不超过10年（含10年），面值为人民币100元，按面值平价发行，票面利率 将根据市场询价结果确定。募集资金扣除发行费用后拟用于偿还有息债务、补充流动资金及法律法规允 许的其他用途。 ...

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 for the coal economy, with a resonance between fundamentals and policies, making it an opportune time to accumulate coal sector investments [10][11] - The supply-side constraints that have been in place since July remain, suggesting limited downside risk for coal prices, which are expected to stabilize [10][11] - The coal sector is characterized by high profitability, cash flow, return on equity (ROE) of 10-15%, and dividend yields exceeding 5%, indicating strong core asset attributes [10][11] - The coal assets are relatively undervalued, with expectations for overall valuation improvement, supported by high premiums in the primary mining rights market [10][11] - The coal sector is expected to maintain a tight supply-demand balance over the next 3-5 years, with high barriers to entry and strong cash flow characteristics [10][11] Summary by Sections Coal Price Tracking - As of December 13, the market price for Qinhuangdao port thermal coal (Q5500) is 753 CNY/ton, down 38 CNY/ton week-on-week [27] - The international thermal coal offshore price for Newcastle NEWC5500 is 78.0 USD/ton, down 6.0 USD/ton week-on-week [27] - The price for coking coal at Jing Tang port remains stable at 1650 CNY/ton [29] Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 92.5%, an increase of 1.0 percentage point week-on-week [44] - The daily coal consumption in inland provinces has increased by 6.20 thousand tons/day (+1.61%) [45] - The daily coal consumption in coastal provinces has increased by 2.00 thousand tons/day (+1.01%) [45] Inventory Situation - As of December 11, coal inventory in inland provinces has decreased by 11.90 thousand tons week-on-week, while coastal provinces saw a reduction of 71.10 thousand tons [45] - The available days of coal in inland provinces have decreased by 0.50 days week-on-week [45] Key Companies to Watch - Focus on stable operators with solid performance such as China Shenhua, Shaanxi Coal, and China Coal Energy [11] - Pay attention to companies with higher elasticity like Yanzhou Coal, Electric Power Energy, and Guanghui Energy [11] - Consider high-quality metallurgical coal companies such as Huaibei Mining and Lu'an Environmental Energy [11]

证券日报网讯12月12日，兰花科创（600123）在互动平台回答投资者提问时表示，公司今年5月份制定 了估值提升计划，公司将结合企业实际情况，积极采取措施，维护资本市场良好形象。 ...

（来源：兰花集团） 01 东峰煤矿 精准取样"把脉"瓦斯治理 近日，东峰煤矿瓦斯抽放队在3205综放工作面开展瓦斯精准取样作业，为工作面安全回采筑牢坚实基础。 此次作业共设置53个测点，每一个测点都是获取数据的关键。技术人员深入现场，依据巷道，灵活选用适配钻机设备，并将每个测点清晰标记，确保所有 数据都有迹可循、真实可靠。本次施工作业首次启用深孔定点快速取样装置，彻底改变传统"先打钻孔、再取煤样"耗时费力模式，新装置直达目标位置 后，"换管吹风"一气呵成，能在数十米深孔内快速获取煤样，便捷高效，大大提升了取样效率与质量。现场负责人对钻孔深度、角度严格把关，对压风冲 孔时间精准把控，不放过任何一个可能影响煤样质量细节，坚决杜绝积水等干扰因素，将"质量关"落实到每一个操作步骤中，为3205综放工作面的瓦斯抽 采效果提供最真实可靠的数据支撑，全力护航工作面安全回采。（连业谨） 02 莒山煤矿 运输队特殊"新成员"正式上岗 近日，XVB50-QLJ9-G型锂电池电动叉车作为特殊"新成员"正式加入莒山煤矿运输队并投用，标志着该矿在绿色低碳、安全生产及降本增效领域迈出坚实 新步伐。 此前，该矿地面物料搬运长期依赖传统燃油 ...

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 for the coal economy, with a resonance between fundamentals and policies, making it an opportune time to accumulate coal sector investments [11][12] - The supply side constraints are expected to support prices despite high inventory levels and mild weather conditions, with coal prices anticipated to exhibit a bottoming and oscillating trend [11][12] - The underlying investment logic of coal capacity shortages remains unchanged, with a balanced short-term supply-demand scenario and a long-term gap still present [11][12] Summary by Sections Coal Price Tracking - As of December 6, the market price for Qinhuangdao port thermal coal (Q5500) is 791 RMB/ton, down 27 RMB/ton week-on-week [30] - The international thermal coal FOB price for Newcastle (NEWC5500) is 85.5 USD/ton, down 1.8 USD/ton week-on-week [30] - The price for coking coal at Jing Tang port is 1650 RMB/ton, down 60 RMB/ton week-on-week [32] Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 91.5%, an increase of 0.2 percentage points week-on-week [48] - The daily coal consumption in inland 17 provinces has increased by 32.10 thousand tons/day, a rise of 9.07% week-on-week [47] - The daily coal consumption in coastal 8 provinces has increased by 10.70 thousand tons/day, a rise of 5.72% week-on-week [47] Inventory Situation - The coal inventory in inland 17 provinces has decreased by 100.60 thousand tons, a decline of 0.99% week-on-week [47] - The coal inventory in coastal 8 provinces has increased by 51.10 thousand tons, an increase of 1.48% week-on-week [47] Company Performance - The coal sector has shown a positive performance with a 0.77% increase, although it underperformed compared to the broader market [14][17] - Key companies to focus on include China Shenhua, Shaanxi Coal, and Yanzhou Coal, which are noted for their stable operations and strong performance [12][13]

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The report indicates that the coal industry is at the beginning of a new upward cycle, with a resonance between fundamentals and policies, making it an opportune time to accumulate coal stocks on dips [12][13] - The report highlights a tight supply situation, with coal prices stabilizing at a new platform, and emphasizes the high profitability, cash flow, and dividend yield of quality coal companies [12][13] - The report suggests that the coal sector is undervalued and has potential for valuation enhancement, with a focus on high dividend yields and cyclical elasticity [12][13] Summary by Sections Coal Price Tracking - As of November 22, the market price for Qinhuangdao port thermal coal (Q5500) is 827 RMB/ton, unchanged from the previous week [28] - The price for thermal coal from Shanxi at the pit head is 780 RMB/ton, up by 15 RMB/ton week-on-week [28] - International thermal coal prices have seen slight increases, with Newcastle thermal coal at 86.5 USD/ton, up by 1.5 USD/ton [28] Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 91.5%, an increase of 0.3 percentage points week-on-week [46] - Daily coal consumption in 17 inland provinces has increased by 14.7 thousand tons/day, a rise of 4.37% week-on-week [12] - The report notes that the daily coal consumption in 8 coastal provinces has also risen by 7.5 thousand tons/day, up by 4.18% week-on-week [12] Coal Inventory Situation - Coal inventories in coastal provinces increased by 25.5 thousand tons week-on-week, while inland provinces saw an increase of 89.1 thousand tons [12] - The report indicates a decrease in available days of coal supply in both coastal and inland regions [12] Company Performance - The report emphasizes the strong performance of companies like China Shenhua, Shaanxi Coal and Chemical Industry, and others, which are expected to maintain stable operations and robust earnings [13] - It also highlights companies with higher elasticity such as Yanzhou Coal Mining Company and others, suggesting they are worth monitoring [13]

Core Points - The company held its second extraordinary general meeting of shareholders on November 21, 2025, with no resolutions being rejected [2][3] - The meeting was convened by the board of directors and chaired by Chairman Zhao Chenguang, utilizing a combination of on-site and online voting [2][3] Meeting Attendance and Voting - The meeting was attended by all 8 current directors and 5 current supervisors, along with the board secretary and some senior executives [3][4] - The voting methods complied with the Company Law and the company's articles of association [2][3] Resolutions Passed - The following resolutions were approved: 1. Proposal to abolish the supervisory board and repeal the "Rules of Procedure for Supervisory Meetings" [3][4] 2. Proposal to amend the company's articles of association [3][4] 3. Proposal to revise certain provisions of the "Rules of Procedure for Shareholders' Meetings" [3][4] 4. Proposal to amend the "Rules of Procedure for Board Meetings" [4] 5. Proposal to amend the "Independent Director System" [4] 6. Proposal to nominate candidates for the eighth board of directors [4] Voting Results - Resolutions 1-4 were special resolutions, requiring more than two-thirds of the valid voting rights held by attending shareholders to pass, while resolutions 5-6 were ordinary resolutions, requiring more than half [4] - Separate counting of votes for resolutions 1-4 was conducted for minority shareholders [4] Legal Verification - The meeting was witnessed by Beijing Zhongqin Law Firm, with lawyers providing confirmation that the meeting's procedures and resolutions complied with relevant laws and regulations [4]

山西兰花科技创业股份有限公司独立董事制度 山西兰花科技创业股份有限公司 独立董事制度 （2025 年 11 月修订） 第一章 总则 第二条 独立董事是指不在公司担任除董事外的其他职务，并与 公司及主要股东、实际控制人不存在直接或者间接利害关系，或者其 他可能影响其进行独立客观判断关系的董事。 公司独立董事应当独立、公正地履行职责，不受公司及主要股东、 实际控制人等单位或者个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务，应当 按照法律、行政法规、中国证券监督管理委员会（以下简称中国证监 会）规定、证券交易所业务规则和公司章程的规定，认真履行职责， 在董事会中充分发挥参与决策、监督制衡、专业咨询作用，维护公司 整体利益，保护中小股东合法权益。 第四条 公司独立董事占董事会成员的比例不得低于三分之一， 且至少包括一名会计专业人士。 第五条 独立董事最多在 3 家境内上市公司担任独立董事，每年 在公司现场工作时间应当不少于 15 日，并应当确保有足够的时间和 精力有效地履行独立董事的职责。 第二章 独立董事任职资格 第六条 独立董事必须保持独立性。下列人员不得担任独立董事： （一）在公司或者附属企业 ...