Core Viewpoint - Yongtai Energy (600157) anticipates a net profit of 120 million to 150 million yuan for the first half of 2025, despite facing challenges in the coal market and temporary declines in power generation due to maintenance activities [1][2]. Group 1: Financial Performance - The company expects to achieve an operating cash flow of over 2.7 billion yuan, with its electricity business showing continuous improvement in operational efficiency [1]. - The coal business has been impacted by declining market prices, leading to a general downturn in performance among coal companies [2]. - Yongtai Energy plans to optimize its management mechanisms and implement cost-reduction measures to mitigate adverse market impacts and ensure operational cash flow meets development needs [2]. Group 2: Business Operations - The company’s main operations include electricity production and coal mining, with power plants located in economically developed regions of Jiangsu and Henan, ensuring stable demand and profitability [2]. - For 2025, Yongtai Energy aims to generate over 40 billion kWh of electricity and plans to enhance its coal production and sales to over 13.68 million tons [3]. - The company is focusing on improving coal production efficiency and quality through smart production and optimized resource allocation [3]. Group 3: Market Position and Strategy - Despite short-term market fluctuations, Yongtai Energy demonstrates strong operational resilience and a clear strategic direction, particularly with the accelerated construction of the Haizetang coal mine project, which is expected to enhance profitability [4]. - The Haizetang coal mine is projected to produce 3 million tons in trial production by mid-2026 and reach full production of 10 million tons by 2027, with a low cost of under 200 yuan per ton [4]. - The company completed a stock buyback of 400 million shares, investing 501 million yuan, which will reduce the total share count and potentially enhance earnings per share [5].

证券代码：600157 证券简称：永泰能源 公告编号：临 2025－044 永泰能源集团股份有限公司 关于公司副总经理到龄退休辞职的公告 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个别及连带责任。 公司董事会对李光华先生在任职期间勤勉尽责及对公司所做出的贡献表示 衷心感谢。 特此公告。 永泰能源集团股份有限公司董事会 二○二五年七月十五日 因到退休年龄，公司副总经理李光华先生于 2025 年 7 月 14 日向董事会提交 了书面辞呈，申请辞去公司副总经理职务。根据《公司章程》相关规定，李光华 先生的辞职申请自送达公司董事会之日起生效。 ...

证券代码：600157 证券简称：永泰能源 公告编号：临 2025－042 永泰能源集团股份有限公司 关于减少注册资本并修改《公司章程》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个别及连带责任。 根据 2024 年年度股东大会决议，公司已于 2025 年 7 月 2 日将回购股份 400,000,000 股在中国证券登记结算有限责任公司上海分公司全部办理注销，公 司总股本由原 22,217,764,145 股变更为 21,817,764,145 股，现对《公司章程》中 有关公司注册资本及总股本内容进行修订。具体修订内容如下： 二、《公司章程》第十九条原为："公司股份总数为 22,217,764,145 股，公司 的股本结构为：普通股 22,217,764,145 股。" 现修改为："公司股份总数为 21,817,764,145 股，公司的股本结构为：普通 股 21,817,764,145 股。" 三、《公司章程》其他条款内容不变。 根据 2024 年年度股东大会审议通过的《关于公司回购股份用于注销以减少 注册资本的议案》相关 ...

二、董事会会议审议情况 证券代码：600157 证券简称：永泰能源 公告编号：临 2025－041 永泰能源集团股份有限公司 第十二届董事会第二十一次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 永泰能源集团股份有限公司（以下简称"公司"）第十二届董事会第二十一次 会议通知于 2025 年 7 月 11 日以书面形式和电子邮件发出，会议于 2025 年 7 月 14 日以通讯方式召开，应参与表决董事 8 人，实参与表决董事 8 人，会议的召 集、召开符合《公司法》等有关法律、行政法规、部门规章、规范性文件和《公 司章程》的有关规定。 （一）关于减少注册资本并修改《公司章程》的议案 表决结果：同意 8 票、反对 0 票、弃权 0 票，审议通过本议案。 根据 2024 年年度股东大会决议，公司已于 2025 年 7 月 2 日将回购股份 400,000,000 股在中国证券登记结算有限责任公司上海分公司全部办理注销，公 司总股本由原 22,217,764,145 股变更为 21,817 ...

永泰能源集团股份有限公司 第十二届董事会第二十一次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 永泰能源集团股份有限公司（以下简称"公司"）第十二届董事会第二十一次 会议通知于 2025 年 7 月 11 日以书面形式和电子邮件发出，会议于 2025 年 7 月 集、召开符合《公司法》等有关法律、行政法规、部门规章、规范性文件和《公 司章程》的有关规定。 二、董事会会议审议情况 证券代码：600157 证券简称：永泰能源 公告编号：临 2025－041 （一）关于减少注册资本并修改《公司章程》的议案 表决结果：同意 8 票、反对 0 票、弃权 0 票，审议通过本议案。 根据 2024 年年度股东大会决议，公司已于 2025 年 7 月 2 日将回购股份 司总股本由原 22,217,764,145 股变更为 21,817,764,145 股。为此，董事会同意公 司注册资本由人民币 22,217,764,145 元减少为人民币 21,817,764,145 元，并对《公 司章程》中有关 ...

二、 "公司股份总数为 22,217,764,145 股，公司 《公司章程》第十九条原为： 证券代码：600157 证券简称：永泰能源 公告编号：临 2025－042 永泰能源集团股份有限公司 关于减少注册资本并修改《公司章程》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个别及连带责任。 根据 2024 年年度股东大会决议，公司已于 2025 年 7 月 2 日将回购股份 司总股本由原 22,217,764,145 股变更为 21,817,764,145 股，现对《公司章程》中 有关公司注册资本及总股本内容进行修订。具体修订内容如下： 一、 "公司注册资本为人民币 22,217,764,145 元。" 《公司章程》第六条原为： 现修改为："公司注册资本为人民币 21,817,764,145 元。" 的股本结构为：普通股 22,217,764,145 股。" 现修改为："公司股份总数为 21,817,764,145 股，公司的股本结构为：普通 股 21,817,764,145 股。" 三、《公司章程》其他条款内容不变。 根据 2 ...

Core Points - The company is established as a joint-stock limited company in accordance with the Company Law and Securities Law of the People's Republic of China [2][3] - The registered capital of the company is RMB 21,817,764,145 [3] - The company aims to enhance economic and social benefits while providing quality products and services to shareholders and society [12] Chapter Summaries Chapter 1: General Provisions - The company is governed by its articles of association, which are legally binding for the company, shareholders, directors, supervisors, and senior management [10] - The company is a permanent joint-stock limited company [7] Chapter 2: Business Objectives and Scope - The company's business objectives include scientific management and enhancing corporate strength to provide high economic returns to shareholders [12] - The business scope includes comprehensive energy development, bulk commodity logistics, and investment in emerging industries [13][14] Chapter 3: Shares - The company issues shares in the form of stocks, with equal rights for each type of share [15] - The total number of shares issued by the company is 21,817,764,145 [19] Chapter 4: Shareholders and Shareholders' Meeting - Shareholders have rights to dividends, attend meetings, supervise operations, and transfer shares [32] - The company must hold an annual shareholders' meeting within six months after the end of the previous fiscal year [42] Chapter 5: Shareholders' Meeting Procedures - The company must notify shareholders of the meeting details at least 20 days in advance for annual meetings and 15 days for temporary meetings [54] - Voting at the shareholders' meeting can be conducted in person or by proxy, with specific rules for related party transactions [79][80]

永泰能源集团股份有限公司章程 二 ○ 二 五 年 七 月 | | | | 第一章 | 总 | 则 | 1 | | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 | 2 | | 第三章 | 股 | 份 | 2 | | 第一节 | | 股份发行 | 2 | | 第二节 | | 股份增减和回购 | 3 | | 第三节 | | 股份转让 4 | | | 第四章 | | 股东和股东大会 4 | | | 第一节 | | 股 东 4 | | | 第二节 | | 股东大会的一般规定 7 | | | 第三节 | | 股东大会的召集 9 | | | 第四节 | | 股东大会的提案与通知 10 | | | 第五节 | | 股东大会的召开 11 | | | 第六节 | | 股东大会的表决和决议 13 | | | 第五章 | 党 | 委 16 | | | 第一节 | | 党委和纪委 16 | | | 第二节 | | 党委职权 16 | | | 第三节 | | 纪委职权 17 | | --- | --- | --- | | 第六章 | | 董事会 17 | | 第一节 | | 董 事 17 | | ...

[Key Highlights](index=1&type=section&id=Key%20Highlights) Yongtai Energy Group anticipates a substantial decline in H1 2025 net profit, both attributable and non-recurring, despite stable core operations and strong operating cash flow - In the first half of 2025, the company's core power and coal businesses operated normally, with an expected operating net cash flow exceeding **CNY 2.7 billion**[2](index=2&type=chunk) Key Financial Performance Indicators for H1 2025 (vs. Prior Year) | Indicator | H1 2025 (Forecast, million CNY) | H1 2024 (Statutory Disclosure, million CNY) | Year-on-Year Change (Amount, million CNY) | Year-on-Year Change (%) | | :------------------------------------------------- | :------------------------------ | :------------------------------------------ | :---------------------------------------- | :---------------------- | | Net Profit Attributable to Shareholders of the Listed Company | 120 ~ 150 | 1,189.49 | -1,069.49 ~ -1,039.49 | -89.91% ~ -87.39% | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-Recurring Gains and Losses | 90 ~ 120 | 1,111.97 | -1,021.97 ~ -991.97 | -91.91% ~ -89.21% | [I. Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) This chapter outlines the H1 2025 performance forecast period, detailing expected net profit ranges and year-on-year changes, noting the unaudited nature of the forecast [1. Performance Forecast Period](index=1&type=section&id=1.%20Performance%20Forecast%20Period) - The performance forecast period is from January 1, 2025, to June 30, 2025[3](index=3&type=chunk) [2. Performance Forecast Details](index=1&type=section&id=2.%20Performance%20Forecast%20Details) H1 2025 Performance Forecast Details | Indicator | Estimated Amount (million CNY) | Year-on-Year Decrease (million CNY) | Year-on-Year Decrease (%) | | :------------------------------------------------- | :----------------------------- | :---------------------------------- | :------------------------ | | Net Profit Attributable to Shareholders of the Listed Company | 120 ~ 150 | 1,069.49 ~ 1,039.49 | 89.91% ~ 87.39% | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-Recurring Gains and Losses | 90 ~ 120 | 1,021.97 ~ 991.97 | 91.91% ~ 89.21% | [3. Unaudited Nature of Forecast](index=1&type=section&id=3.%20Unaudited%20Nature%20of%20Forecast) - This performance forecast has not been audited by a certified public accountant[3](index=3&type=chunk) [II. Prior Period Operating Performance and Financials](index=1&type=section&id=II.%20Prior%20Period%20Operating%20Performance%20and%20Financials) This chapter presents the actual operating performance and financial data for H1 2024, serving as the comparative baseline for the H1 2025 forecast [1. H1 2024 Total Profit](index=1&type=section&id=1.%20H1%202024%20Total%20Profit) H1 2024 Key Profit Indicators | Indicator | Amount (million CNY) | | :------------------------------------------------- | :------------------- | | Total Profit | 2,014.17 | | Net Profit Attributable to Shareholders of the Listed Company | 1,189.49 | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-Recurring Gains and Losses | 1,111.97 | [2. H1 2024 Earnings Per Share](index=2&type=section&id=2.%20H1%202024%20Earnings%20Per%20Share) - Earnings Per Share for the first half of 2024 was **CNY 0.0535**[6](index=6&type=chunk) [III. Main Reasons for Current Period Performance Change](index=2&type=section&id=III.%20Main%20Reasons%20for%20Current%20Period%20Performance%20Change) This chapter explains the primary drivers behind the significant H1 2025 performance decline, including market price drops and temporary operational disruptions, alongside the company's mitigation strategies - Primary reasons for the performance decline include: - **Coal Business**: A sustained downward trend in the overall market price of coking coal products - **Power Business**: A temporary decrease in power generation due to the company's main power plant in Jiangsu undergoing a cumulative approximately **52-day shutdown** for line construction in preparation for the commissioning of Guoxin Shazhou Phase III[7](index=7&type=chunk) - Company's countermeasures include: - **Overall Strategy**: Closely monitoring market changes, ensuring stable production and operations through refined management and standardized operations, and implementing measures for cost reduction, efficiency improvement, and quality enhancement - **Power Segment**: Sustaining improving operational status and steadily increasing profitability through intelligent and flexible upgrades, maximizing power generation, increasing heat supply, and participating in peak-shaving ancillary services - **Coal Segment**: Strengthening safety production management, vigorously promoting intensive and intelligent production, improving single-unit output and efficiency levels, and prioritizing the extraction of high-quality and profitable coal while maintaining stable output[7](index=7&type=chunk) [IV. Risk Warning](index=2&type=section&id=IV.%20Risk%20Warning) This chapter states that there are no significant uncertainties affecting the accuracy of the current performance forecast - The company has no significant uncertainties that would affect the accuracy of this performance forecast[8](index=8&type=chunk) [V. Other Explanatory Matters](index=2&type=section&id=V.%20Other%20Explanatory%20Matters) This chapter advises investors that the forecast data is preliminary, with final financial figures subject to the official H1 2025 report, and includes an investment risk alert - The data in this forecast is preliminary; the specific and accurate financial data will be subject to the company's officially disclosed H1 2025 report[9](index=9&type=chunk) - Investors are kindly advised to be aware of investment risks[9](index=9&type=chunk)

Group 1 - The company Yongtai Energy (600157) expects to achieve a net profit attributable to shareholders of 120 million to 150 million yuan for the first half of 2025, representing a decline of 89.91% to 87.39% compared to the same period last year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be 90 million to 120 million yuan, reflecting a decrease of 91.91% to 89.21% year-on-year [1] - The company anticipates operating net cash flow to exceed 2.7 billion yuan for the first half of 2025 [1]