香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 兗礦能源集團股份有限公司 YANKUANG ENERGY GROUP COMPANY LIMITED* ( 在中華人民共和國註冊成立的股份有限公司 ) (股份代碼：01171) 兗礦能源集團股份有限公司境外控股子公司 發佈2025年半年度業績 本公司之股份於澳交所及聯交所上市的控股子公司兗煤澳洲公司發佈了其2025年半 年度業績報告。 本公告乃根據《證券及期貨條例》第XIVA部以及《香港聯合交易所有限公司證券上 市規則》第13.09(2)(a)條而作出。 兗礦能源集團股份有限公司（「本公司」）之控股子公司兗煤澳大利亞有限公司 （「兗煤澳洲公司」，其股份於澳大利亞證券交易所（「澳交所」）及香港聯合交 易所有限公司（「聯交所」）上市，證券代碼分別為「YAL」及「03668」），於 2025年8月19日發佈了2025年半年度業績報告。 兗煤澳洲公司按國際財務報告準則編制並經會計師審閱的主要財務數據摘要如下： 單 ...

Group 1 - The core viewpoint is that coal prices have accelerated, breaking the 700 RMB/ton barrier, with significant developments in state-owned enterprise reforms, particularly the acquisition by China Shenhua [2][4] - As of August 15, the price of Q5500 thermal coal at Huanghua Port is 708 RMB/ton, an increase of 16 RMB/ton (2.3%) from the previous week [4] - In July, the raw coal production was 380 million tons, a month-on-month decrease of 40 million tons, primarily due to extreme weather conditions in Inner Mongolia and Shaanxi [2][4] Group 2 - The forecast for the second half of the year indicates a slight month-on-month decline in national production due to "overproduction checks," with total production expected to be between 2.35-2.4 billion tons, maintaining an annual total of 4.75-4.8 billion tons, which is roughly flat year-on-year [3][4] - The demand side shows a year-on-year increase of 4.3% in thermal power generation in July, with a significant improvement in the supply-demand balance [2][4] - The focus on safety production has intensified, as highlighted by the release of the "Coal Mine Safety Regulations (2026 Edition)" [2] Group 3 - The coal industry is experiencing a turning point in fundamentals, with downwards risks being fully released, making it a favorable environment for long-term capital allocation [3] - The overall supply is expected to remain stable, with domestic production and imports both contributing to this stability [4] - The recommendation for stocks includes China Shenhua, Shaanxi Coal, and China Coal Energy, among others, indicating a positive outlook for these companies [6]

Industry Overview - As of this year, the prices for thermal coal and coking coal in China are 680 RMB per ton and 1280 RMB per ton respectively, representing a decrease of approximately 50% compared to 2022 [1] - The firm holds a neutral view on the coal industry, expecting price stabilization in the second half of this year and into next year due to slowing supply growth and reduced coal imports, alongside strong coal demand [1] Company Forecasts - The earnings forecast for China Shenhua for 2025 to 2027 has been raised by 7% to 29%, with the target price increased from 32 HKD to 38 HKD, maintaining a "neutral" rating [1] - Yanzhou Coal Mining's earnings forecast for 2026 and 2027 has been increased by 20% to 21%, with the target price raised from 8 HKD to 9 HKD, reiterating an "underperform" rating [1] - The rating for China Coal Energy remains "neutral," with the target price adjusted from 8.5 HKD to 11 HKD [1]

Group 1 - The company signed an "Implementation Agreement" and "Equity Subscription Agreement" with Highfield Resources Limited on September 23, 2024, to acquire newly issued shares through asset injection and cash subscription [1] - On May 12, 2025, a non-binding letter of intent was signed involving Highfield Resources, China Minmetals Corporation's subsidiary Qinghai Salt Lake Industry Co., Ltd., and EMR Capital, with Qinghai Salt Lake intending to invest approximately $300 million to become the largest shareholder of Highfield Resources [1] - Recently, the company received notice from Qinghai Salt Lake that it will no longer pursue the subscription transaction outlined in the letter of intent [3] Group 2 - The signing of the letter of intent and related documents was based on a framework of cooperation and did not constitute a formal agreement, meaning the termination of the transaction will not adversely affect the company's financial status or operations [4] - There is no harm to the interests of the company or minority shareholders due to the termination of the transaction by Qinghai Salt Lake [4] - The company will disclose relevant information in a timely manner as the situation progresses [5]

Core Viewpoint - Yancoal Energy's acquisition plan for Highfield Resources has been terminated after three months, creating uncertainty in the global potash market [1][3]. Group 1: Acquisition Details - Yancoal Energy initially planned to acquire Highfield Resources through a dual approach of asset injection and cash subscription, aiming to become the largest shareholder [2][3]. - The acquisition involved Yancoal Canada Resources Co., Ltd., which holds significant potash resources in Canada, specifically 1.696 billion tons of potassium chloride [2]. - A non-binding letter of intent was signed on May 12, 2025, involving Yancoal Energy, Highfield Resources, Salt Lake Potash, and EMR Capital, which altered the original transaction structure [3]. Group 2: Termination of Agreement - Salt Lake Potash decided not to proceed with the subscription transaction, leading to the termination of the previously signed letter of intent [1][5]. - The announcement emphasized that the signed documents were only framework agreements and did not constitute a formal cooperation agreement [3][6]. - Salt Lake Potash cited that the conditions for advancing the project were not mature enough after conducting due diligence [5]. Group 3: Future Implications for Yancoal Energy - Yancoal Energy's next steps remain uncertain, with options including restarting the original transaction, seeking new strategic partners, or completely abandoning the acquisition [7]. - The exit of Salt Lake Potash complicates the transaction landscape, particularly regarding the influence of EMR Capital, which is both a major shareholder and creditor of Highfield Resources [6][7]. - Yancoal Energy has stated that the termination will not adversely affect its financial status or operations, but the complexity of the situation requires careful navigation [6][7].

Group 1 - Yancoal Energy Group Co., Ltd. signed an "Implementation Agreement" and "Equity Subscription Agreement" with Highfield Resources Limited on September 23, 2024, to acquire newly issued shares through asset injection and cash subscription [1] - Qinghai Salt Lake Industry Co., Ltd. intends to invest approximately $300 million in ordinary shares of Highfield Resources, aiming to become its largest shareholder and gain control upon completion of the transaction [2] - Recently, Yancoal Energy received notification from Qinghai Salt Lake that it will no longer pursue the subscription transaction outlined in the letter of intent [2] Group 2 - The signing of the letter of intent and related opinions by the company was based on a framework of cooperation and does not constitute a formal agreement, thus the termination of the transaction will not adversely affect the company's financial status or operations [2] - The company will disclose relevant information in a timely manner based on the progress of related matters [3]

关于并购 Highfield Resources Limited 的进展公告，该等资料刊载于 上海证券交易所网站、香港联合交易所有限公司网站、公司网站及/ 或《中国证券报》《上海证券报》《证券时报》《证券日报》。 股票代码：600188 股票简称：兖矿能源 编号：临 2025-050 兖矿能源集团股份有限公司 关于并购 Highfield Resources Limited 的进展公告 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。 一、原交易安排概述 兖矿能源集团股份有限公司（"兖矿能源""公司"）于 2024 年 9 月 23 日与 Highfield Resources Limited（一家于澳大利亚证 券交易所上市的公司，股份代码：HFR，"高地资源"）签署了 "Implementation Agreement" 及 "Equity Subscription Agreement"。兖矿能源将通过资产注入和现金认购方式获得高地资 源新增发股份。 2025 年 5 月 12 日，高地资源、中国五矿集团有限公司控股子 公司 ...

如今，该项目的产品产量已成功跨越百万吨大关，被中央宣传部等6部委列入建党百年百条精品线 路"走近大国重器、感受中国力量"系列，成为展示中国工业实力和科技创新成就的闪亮名片。 让人难以想象的是，10年前这里还是一片吞噬天际的亘古黄沙。十年光阴流转，这座承载着国家能 源战略梦想的超级工程，如何将深埋地下的乌金转化为驱动时代的"液体黄金"？又如何在我国能源革命 的壮阔画卷上写下浓墨重彩的一笔？ 向梦而行：十年砺剑，铸就大国重器 时值盛夏，陕北高原绿意正浓，处处焕发着盎然生机。在广袤的毛乌素沙漠边缘，一座钢铁高塔巍 然耸立，管线如巨龙般蜿蜒，机器的轰鸣昼夜不息——这里，是由山东能源兖矿能源建设运营的国内首 套百万吨级煤间接液化示范项目。 2015年8月23日，是陕西未来能源化工有限公司煤制油分公司（下称煤制油分公司）最难忘的日 子：百万吨级煤间接液化示范项目全流程打通一次投料成功，并产出合格的柴油、石脑油、液化石油气 等产品。 时针拨回2012年7月。 中国面临着"富煤、缺油、少气"的能源结构性困局。保障国家能源安全、实现供应多元化，成为战 略需求。 肩负着这一崇高使命，山东能源兖矿能源于时代浪潮中审时度势，将目光投 ...

Group 1 - The Energy ETF (159930) opened with a gain of 0.59%, priced at 1.369 yuan [1] - Major holdings in the Energy ETF include China Shenhua, which rose by 10.01%, while China Petroleum fell by 0.12% [1] - The ETF's performance benchmark is the CSI Energy Index, managed by Huatai-PineBridge Fund Management Co., Ltd., with a return of 36.12% since its inception on August 23, 2013, and a return of 4.40% over the past month [1] Group 2 - Other notable stock movements include China Petrochemical rising by 0.18%, Shaanxi Coal and Chemical Industry increasing by 1.07%, and Yanzhou Coal Mining up by 1.00% [1] - The ETF also saw gains from Jereh Oilfield Services (0.96%), China Coal Energy (1.15%), Shanxi Coking Coal (0.14%), and Meijin Energy (1.31%) [1]

Core Viewpoint - Yanzhou Coal Mining Company Limited (兖矿能源) has signed an "Implementation Agreement" and "Equity Subscription Agreement" with Highfield Resources Limited, indicating a strategic investment move to acquire new shares through asset injection and cash subscription [1] Group 1 - The agreement with Highfield Resources is set to be executed on September 23, 2024, highlighting a future commitment to the partnership [1] - Highfield Resources has entered into a non-binding memorandum of understanding with Qinghai Salt Lake Industry Co., Ltd. and EMR Capital, which involves a cash subscription of approximately $300 million to become the largest shareholder of Highfield Resources [1] - Qinghai Salt Lake has notified Yanzhou Coal Mining that it will not proceed with the subscription transaction outlined in the memorandum of understanding [1]