证券代码：600157 证券简称：永泰能源 公告编号：临 2025－036 永泰能源集团股份有限公司 关于股份回购进展的公告 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： ●截至 2025 年 5 月 30 日，公司通过上海证券交易所交易系统以集中竞价交易 方式累计回购股份 29,238.86 万股、支付资金总额 35,648.02 万元（不含交易费用）。 为进一步贯彻落实国家维护资本市场稳定、强化上市公司价值管理工作精神， 推动公司股票价值合理回归，切实维护全体股东的合法权益，公司正按照回购方 案进行股份回购，并将于计划时间 2025 年 6 月 24 日前（含本日）完成，以用于 办理股份注销。现将有关情况公告如下： 二、回购股份的进展情况 为充分彰显对公司自身价值认可和维护股东利益责任担当，公司按照回购方 案实施股份回购，在完成回购后将用于股份注销。截至 2025 年 5 月 30 日，公司 通过上海证券交易所交易系统以集中竞价交易方式累计回购股份 292,388,600 股， 占公司总股本的比例为 1. ...

证券代码：600157 证券简称：永泰能源 公告编号：临 2025－035 永泰能源集团股份有限公司 关于注销回购股份减少注册资本暨通知债权人公告 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个别及连带责任。 一、注销回购股份减少注册资本情况 2．联系地址：山西省太原市小店区亲贤北街9号双喜广场27层 永泰能源集团股份有限公司融资管理部 3．联系人：陈文飞 4．电话：0351－8366673 5．传真：0351－8366501 永泰能源集团股份有限公司（以下简称"公司"）于2025年5月28日召开2024 年年度股东大会，审议通过了《关于公司回购股份用于注销以减少注册资本的议 案》，同意公司回购股份用途变更为"用于注销以减少注册资本"。具体内容详 见公司于2025年5月29日在上海证券交易所网站（www.sse.com.cn）披露的《2024 年年度股东大会决议公告》（公告编号：临2025－034）。 根据本次回购股份最终调整方案：公司将以集中竞价交易方式回购公司股份， 本次回购资金总额不低于人民币5亿元（含）且不超过人民币10亿元（ ...

证券代码：600157 证券简称：永泰能源 公告编号：临 2025－034 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 4,335 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 4,557,957,383 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 20.7794 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会采取现场记名投票和网络投票相结合的表决方式，现场会议由 公司常务副董事长窦红平先生主持，会议的召集、召开及表决方式符合《公司法》 及《公司章程》的有关规定。 永泰能源集团股份有限公司 2024年年度股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 28 日 (二)股东大会召开的地点：山西省 ...

上海市锦天城律师事务所 关于永泰能源集团股份有限公司 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 楼 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于永泰能源集团股份有限公司 2024 年年度股东大会的 法律意见书 致：永泰能源集团股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受永泰能源集团股份有限 公司（以下简称"公司"）委托，就公司召开 2024 年年度股东大会（以下简称 "本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以下简称"《公 司法》"）等法律、法规、规章和其他规范性文件以及《永泰能源集团股份有限公 司章程》（以下简称"《公司章程》"）、《永泰能源集团股份有限公司股东大会议事 规则》（以下简称"《公司股东大会议事规则》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽 ...

Investment Rating - The investment rating for the coal industry is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes that marginal improvements in supply and demand have stabilized coal prices, indicating a potential recovery in coal asset allocation [1][4] - The coal sector is viewed as entering a "Golden Era 2.0," with core value assets expected to rise again due to favorable macroeconomic policies and capital market support [4][12] Summary by Sections Investment Logic - The current weak domestic economic performance and external pressures, such as tariff policies, create a favorable environment for coal as a stable dividend investment [4][12] - The cyclical elasticity of coal stocks is highlighted, with both thermal and coking coal prices expected to rebound as supply-demand fundamentals improve [4][12] - The report notes a trend of increasing dividends among coal companies, indicating a strong response to policy support and a shift towards higher dividend payouts [4][12] Key Indicators Overview - The coal sector saw a slight increase of 1.03% this week, outperforming the CSI 300 index by 1.21 percentage points [7][9] - The current PE ratio for the coal sector is 11.9, and the PB ratio is 1.19, ranking low among all A-share industries [9] Thermal Coal Industry Chain - As of May 23, the Qinhuangdao Q5500 thermal coal price is 611 CNY/ton, reflecting a slight decrease of 0.49% [3][15] - The operating rate of 442 coal mines in Shanxi, Shaanxi, and Inner Mongolia is 81.3%, showing a minor decline [15] - Daily coal consumption by coastal power plants increased to 187.6 thousand tons, up 3.93% from the previous period [15] Coking Coal Industry Chain - The report indicates a slight decrease in port coking coal prices, with the average price at 1300 CNY/ton [16] - The market price for coking coal in Shanxi is reported at 1130 CNY/ton, down 4.24% [16] Company Announcements - Several coal companies have announced mid-term dividend plans, reflecting a trend towards higher shareholder returns [4][12] Industry Dynamics - The report discusses the resilience of black demand and the overall stability of the coal market despite recent price fluctuations [3][4]

Group 1 - The core achievement of Zhangjiagang Shazhou Power Co., Ltd. is the record daily electricity generation of 75.661 million kWh, with a load factor of 96.70%, marking the highest daily output since its establishment [2] - The electricity generation has been consistently increasing, with 17 billion kWh in 2022, projected to reach 18.5 billion kWh in 2023, and 19.3 billion kWh in 2024, indicating a strong growth trajectory [2] - The recent daily output surpassed the previous record of 72.937 million kWh set on January 26, 2024, by nearly 3.7%, demonstrating the company's capability to meet regional power supply demands [2] Group 2 - Shazhou Power ranks seventh in total installed capacity in Jiangsu Province and second in the Suzhou area, highlighting its significance as a power support point for the southern Jiangsu power grid [3] - The plant's large-scale units achieve over 5,800 hours of annual utilization for million-kilowatt units and over 6,000 hours for 600,000-kilowatt units, showcasing industry-leading operational efficiency [3] - Yongtai Energy's power segment, with a total installed capacity of 9.18 million kW and a focus on large units and high technology, has effectively leveraged coal-electricity complementary advantages during periods of declining coal prices [3]

Core Viewpoint - Yongtai Energy (600157) is planning to repurchase shares to reduce registered capital, which is expected to enhance financial metrics and boost investor confidence [1] Company Announcement Summary - Yongtai Energy's stock closed at 1.35 yuan on May 23, 2025, down 0.74% from 1.36 yuan the previous week, with a market cap of 29.994 billion yuan, ranking 10th in the coal mining sector and 474th among A-shares [1] - The company plans to repurchase shares with a total amount between 500 million yuan and 1 billion yuan, at a maximum price of 1.89 yuan per share, within a period not exceeding 12 months [1] - The purpose of the share repurchase has changed from "for employee stock ownership plans or equity incentives" to "for cancellation to reduce registered capital," which is anticipated to improve earnings per share and net assets per share [1] - A shareholder meeting is scheduled for May 28, 2025, to discuss the share repurchase proposal, with the record date set for May 22, 2025 [1]

Core Viewpoint - The event "Beauty of Labor in a Century" photography exhibition celebrates the 100th anniversary of the All-China Federation of Trade Unions, showcasing the spirit of workers in the energy sector and highlighting the achievements of Yongtai Energy in power supply and coal production [2][3]. Group 1: Company Achievements - In 2024, Yongtai Energy achieved a revenue of 28.357 billion yuan, with a power generation of 412.60 billion kWh and coal production of 13.6801 million tons, exceeding all operational targets and setting historical records for both power generation and coal output [3]. - Yongtai Energy's total installed capacity is 9.18 million kW, with an additional 4 million kW in equity holdings, featuring high-capacity and technologically advanced power generation units [5]. - The company received recognition from the Jiangsu Provincial Development and Reform Commission for its outstanding contributions to power supply during peak summer demand [6]. Group 2: Employee Engagement and Culture - Yongtai Energy emphasizes employee welfare through initiatives like "sending warmth" and "sending coolness," enhancing employee sense of belonging [8]. - The company promotes innovation and skills development through technical competitions and cultural activities, fostering a vibrant corporate atmosphere [8]. Group 3: Future Plans and Strategic Focus - Yongtai Energy aims to strengthen its core coal and electricity business while accelerating the construction of the Haizetan coal mine to enhance production scale and efficiency [9]. - The company is committed to supporting the new energy system construction and optimizing its energy storage strategy to adapt to changing market demands [9].

Core Viewpoint - Energy security is a critical national issue, and under the dual carbon goals and the reshaping of the industry by AI technology, energy companies like Yongtai Energy must make significant decisions to contribute to the stable development of the energy sector [2]. Group 1: Coal Supply and Development - Yongtai Energy possesses coal resources amounting to 3.821 billion tons, including 0.913 billion tons of high-quality coking coal and 2.908 billion tons of high-quality thermal coal [3]. - The company achieved a raw coal production of 13.68 million tons in 2024, a year-on-year increase of 5.46%, and a raw coal sales volume of 13.6831 million tons, also up by 5.31% [3]. - The Haizetang coal mine project is under rapid development, with a resource reserve of 1.145 billion tons and a planned annual production capacity of 10 million tons by 2027 [3][4]. Group 2: Policy and Market Advantages - The Haizetang coal mine is approved by the National Development and Reform Commission as an advanced capacity mine, aligning with national strategies for energy security and regional development [4]. - The coal type from Haizetang has an average calorific value of over 6,500 kcal, making it a rare high-efficiency coal type in the market [4]. - The mine's location near the Haoji Railway facilitates efficient transportation, reducing costs and enhancing profitability [5]. Group 3: Coal-Electricity Integration - The integration of coal and electricity is a growing trend in the industry, with Yongtai Energy forming a complementary operational structure between its coal and electricity businesses [6]. - In 2024, the company reported a total coal production capacity of 21.1 million tons per year and a total installed capacity of 9.18 million kilowatts for its power generation [6]. Group 4: Financial Performance - Yongtai Energy achieved total revenue of 28.357 billion yuan in 2024, with a net profit of 1.561 billion yuan, and the electricity segment contributed 18.406 billion yuan, a year-on-year increase of 10.14% [7]. - The company’s operating cash flow remains strong despite fluctuations in coal prices, indicating robust risk management [7]. Group 5: Strategic Expansion - Yongtai Energy is actively exploring the development of aluminum ore resources beneath coal seams, with an estimated recoverable amount of approximately 6.958 million tons, potentially increasing annual revenue by over 2.7 billion yuan [10]. - The company is also focusing on the energy storage sector, particularly through the development of vanadium pentoxide resources, which are crucial for energy storage applications [11]. Group 6: Share Buyback Initiative - To bolster investor confidence and stabilize stock value, Yongtai Energy initiated a share buyback plan of 500 million to 1 billion yuan, with 283 million shares repurchased by April 30, 2025 [12].

Core Viewpoint - Yongtai Energy (600157) is planning to repurchase shares to reduce registered capital, which is expected to enhance financial metrics and boost investor confidence [2][4]. Group 1: Trading Information - As of May 19, 2025, Yongtai Energy's stock closed at 1.36 yuan, with a turnover rate of 0.89% and a trading volume of 1.9823 million shares, resulting in a transaction value of 270 million yuan [1]. - On the same day, the net outflow of main funds was 12.751 million yuan, accounting for 4.72% of the total transaction value, while retail investors saw a net inflow of 10.0211 million yuan, representing 3.71% of the total [2][4]. Group 2: Company Announcements - Yongtai Energy will hold its 2024 annual shareholders' meeting on May 28, 2025, with the record date for shareholders set for May 22, 2025 [2][4]. - The controlling shareholder, Yongtai Group, proposed a temporary motion to review the share repurchase plan aimed at capital reduction, with a total repurchase fund of no less than 500 million yuan and no more than 1 billion yuan, at a maximum price of 1.89 yuan per share [2][4].