证券之星消息，8月21日煤炭开采板块较上一交易日上涨0.47%，安源煤业领涨。当日上证指数报收于 3771.1，上涨0.13%。深证成指报收于11919.76，下跌0.06%。煤炭开采板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600397 | 安源煤业 | 7.35 | 10.03% | 73.79万 | | 5.33亿 | | 601001 | 晋控煤业 | 13.94 | 2.80% | 26.99万 | | 3.73亿 | | 600188 | 発矿能源 | 13.22 | 2.64% | 64.39万 | | 8.45亿 | | 601101 | 吴华能源 | 7.70 | 1.58% | 13.55万 | | 1.03亿 | | 000983 | 山西焦煤 | 7.33 | 1.52% | 71.77万 | | 5.24亿 | | 600157 | 永泰能源 | 1.46 | 1.39% | 688.24万 | | 10.00亿 | | 60 ...

每经AI快讯，8月21日，A股煤炭板块震荡反弹，安源煤业涨停，广汇能源、兖矿能源、陕西能源、华 阳股份等跟涨。 （文章来源：每日经济新闻） ...

煤炭概念震荡反弹，安源煤业涨停，广汇能源、兖矿能源、陕西能源、华阳股份等跟涨。 ...

Investment Rating - The industry investment rating is maintained at "Overweight" [2] Core Viewpoints - The combination of "logistics package" and "volume-price linkage" is driving the increase in industry concentration, forcing intermediaries out of the market and enhancing the sensitivity of coal prices [5] - The "logistics package" mechanism significantly reduces comprehensive logistics costs, creating sustainable advantages in delivery certainty and cost, while raising entry barriers for small coal operators [5] - The "volume-price linkage" mechanism strengthens scale premiums, allowing large mining and trading enterprises to gain larger discounts, while smaller entities face profit margin compression [5] - The weakening of intermediary roles is expected to enhance coal price sensitivity, with a clear trend of price reversal under the backdrop of supply contraction expectations [5] - The report emphasizes the importance of evaluating the effectiveness of "anti-involution" policies and their impact on liquidity and risk preferences to seize coal investment opportunities [5] Summary by Sections Policy Focus on Cost Reduction and Efficiency - National policies are continuously promoting the development of logistics package models [14] - The logistics package model is seen as a core strategy to reduce overall logistics costs through integrated services [7] Strengthening Long-term Contract Barriers - Long-term contract policies are reinforcing scale barriers, putting pressure on intermediaries [16] - The proportion of railway coal in total coal shipments has increased significantly in 2023 compared to 2022 [21][20] Volume-Price Linkage Trading Pilot - The introduction of volume-price linkage trading mechanisms is expected to benefit large market players significantly [25] - The rapid decrease in port coal inventories contrasts with weak net inflows, indicating a structural tightening in supply [24][23] - The Taiyuan Coal Trading Center has initiated a volume-price linkage trading mechanism to enhance market liquidity and efficiency [27] Investment Recommendations - The report recommends focusing on elastic stocks in the coal sector, highlighting specific companies likely to benefit from the current market dynamics [10]

证券之星消息，8月20日煤炭开采板块较上一交易日上涨0.68%，安源煤业领涨。当日上证指数报收于 3766.21，上涨1.04%。深证成指报收于11926.74，上涨0.89%。煤炭开采板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600397 | 安源煤业 | 6.68 | 6.37% | 97.03万 | | 6.38亿 | | 601225 | 陕西煤业 | 21.72 | 1.45% | 37.65万 | | - 8.14亿 | | 600403 | 大有能源 | 3.81 | 1.06% | - 14.80万 | | 5583.37万 | | 600395 | 盘江股份 | 5.01 | 1.01% | 12.96万 | | 6459.37万 | | 601088 | 中国神华 | 38.63 | 0.94% | 42.10万 | | 16.13亿 | | 600508 | 上海能源 | 12.30 | 0.90% | 2.82万 | | 345 ...

Investment Rating - The investment rating for Yanzhou Coal Mining Company (兖矿能源) is "Buy" [3] Core Views - The report highlights that Yanzhou Coal Mining's Australian subsidiary, Yancoal Australia, has seen an increase in coal production while maintaining stable prices, leading to expected performance improvements in the second half of 2025 [3][4] - The report anticipates that Yancoal Australia will achieve a net profit of AUD 440 million in 2025, contributing approximately RMB 1.27 billion to Yanzhou Coal Mining's earnings [4][6] - The report emphasizes the company's strong cash position, with AUD 1.8 billion in cash and a net cash status, allowing for dividend returns and business growth opportunities [6] Summary by Sections Financial Performance - In the first half of 2025, Yancoal Australia achieved a coal production of 18.9 million tons, an increase of 11% year-on-year, while coal sales were 16.6 million tons, a decrease of 2% year-on-year [3] - The average selling price for coal in the first half of 2025 was AUD 149 per ton, down 17% year-on-year, with a notable decline in metallurgical coal prices [3] - The cash operating cost for the first half of 2025 was AUD 93 per ton, an 8% decrease year-on-year, indicating a potential for further cost reductions in the second half of 2025 [3] Earnings Forecast - The forecast for Yanzhou Coal Mining's net profit for 2025 is RMB 11.4 billion, with projected earnings per share (EPS) of RMB 1.14 [5][6] - The report predicts a gradual recovery in coal prices and a rebound in sales volume, which could lead to significant improvements in the company's performance in the latter half of 2025 [3][4] Market Conditions - The report notes that international coal prices have been declining but are expected to stabilize and recover as demand increases in the third quarter of 2025 [3] - The API 5 coal price index fell from an average of USD 88 per ton in Q4 2024 to USD 68 per ton in Q2 2025, a decrease of 23%, but has shown signs of recovery recently [3]

中国上市公司协会相关负责人表示，近年来上市公司分红劲头持续增强，也反映出上市公司分红的内驱 力正不断提升。广大上市公司通过积极分红，为投资者创造了可预期的现金流回报，推动资本市场在与 投资者的良性互动中实现更高质量的发展。 从沪深A股上市公司的总体分红数据来看，各项政策的牵引带动和市场引导作用明显，2024年度上市公 司分红意识不断增强，用"真金白银"积极回报投资者。 中化新网讯 近日，中国上市公司协会发布2025年上市公司现金分红榜单，中国石油、中国神华、中国 石化、兖矿能源、万华化学、广汇能源等多家石化、化工、能源上市公司位列其中。 三是上市公司持续为投资者创造可预期的收益，股债利差创近年来新高。沪深A股有466家上市公司近 三年平均股息率超过3%，有133家近三年平均股息率超过5%，股息率榜单公司近三年平均股息率为 6.73%，上市公司股息率已显著高于一些经济体国债收益率。2024年度沪深A股上市公司平均股利支付 率39%，有1411家近五年平均股利支付率大于40%，数量较2023年度增长24%。 具体来看，一是上市公司现金分红总额再创历史新高，整体分红水平稳中有升。2024年度沪深A股上市 公司现金分 ...

股票代码：600188 股票简称：兖矿能源 编号：临2025-051 投资者如需了解详情，请参见兖煤澳洲公司在澳大利亚证券交易所网站（http://www2.asx.com.au）及香 港联合交易所有限公司网站（http://www.hkexnews.hk）发布的公告全文。 兖矿能源集团股份有限公司董事会 2025年8月19日 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。 兖矿能源集团股份有限公司控股子公司兖煤澳大利亚有限公司（"兖煤澳洲公司"，澳大利亚证券交易所 上市代码"YAL"、香港联合交易所有限公司上市代码"03668"）于2025年8月19日发布了2025年半年度业 绩报告。按国际财务报告准则编制并经会计师审阅的主要财务数据摘要如下： 单位：百万澳元 ...

股票代码：600188 股票简称：兖矿能源 编号：临 2025-051 兖矿能源集团股份有限公司 境外控股子公司发布 2025 年半年度业绩 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。 兖矿能源集团股份有限公司控股子公司兖煤澳大利亚有限公司 （"兖煤澳洲公司"，澳大利亚证券交易所上市代码"YAL"、香港联合 交易所有限公司上市代码"03668"）于 2025 年 8 月 19 日发布了 2025 年半年度业绩报告。按国际财务报告准则编制并经会计师审阅的主要 财务数据摘要如下： 投资者如需了解详情，请参见兖煤澳洲公司在澳大利亚证券交易 所网站（http://www2.asx.com.au）及香港联合交易所有限公司网站 （http://www.hkexnews.hk）发布的公告全文。 兖矿能源集团股份有限公司董事会 2025 年 8 月 19 日 1 单位：百万澳元 项目 截至 6 月 30 日六个月 2025 年 2024 年 营业收入 2,675 3,138 税前利润 （亏损以"-"填列） 239 571 税后利润 （亏 ...

人民财讯8月19日电，兖矿能源(600188)8月19日晚间公告，控股子公司兖煤澳大利亚有限公司(「兖煤澳 洲公司」，澳大利亚证券交易所上市代码「YAL」、香港联合交易所有限公司上市代码「03668」)于8 月19日发布了2025年半年度业绩报告。1—6月，兖煤澳洲公司营业收入26.75亿澳元，税后利润1.63亿澳 元。 ...