兖矿能源集团股份有限公司 董事会战略与发展委员会工作细则 第一章 总 则 第一条 为适应兖矿能源集团股份有限公司（以下简称"公 司"）战略发展需要，保证公司发展规划和战略决策的科学性， 使董事会战略与发展委员会规范、高效地开展工作，根据《中华 人民共和国公司法》（以下简称"《公司法》"）《上市公司治 理准则》《兖矿能源集团股份有限公司章程》（以下简称"《公 司章程》"）及其它有关法律、法规和规范性文件，制定本工作 细则。 第二章 人员组成 第三条 战略与发展委员会成员由五名董事组成，外部董事 应占多数，其中至少包括一名独立董事。 第四条 战略与发展委员会委员由董事长、二分之一以上独 立董事或三分之一以上董事提名，并由董事会选举产生。 第五条 战略与发展委员会设主任一名，由公司董事长担任。 战略与发展委员会主任负责召集和主持战略与发展委员会会议， 当其不能或无法履行职责时，由其指定一名委员代行职权。 第六条 战略与发展委员会委员任期与同届董事会董事的任 期一致，连选可以连任。期间如有委员不再担任公司董事职务， 1 自动失去委员资格，并由委员会根据上述第三至第五条规定补足 委员人数。 第七条《公司法》《公司章程》 ...

EF001 免責聲明 | 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的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 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的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 兗礦能源集團股份有限公司（"本公司"） | | 股份代號 | 01171 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | （更新）截至2024年12月31日止年度之末期股息 | | 公告日期 | 2025年5月30日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 | 更新匯率及股息所涉及的代扣所得稅 | | 股息信息 | | | 股息類型 末期 | | | 股息性質 | 普通股息 | | 財政年末 | 2024年12月31日 | | 宣派股息的報告期末 | 2024年12月31日 | | 宣派股息 | 每 股 0.54 RMB | | 股東批准日期 | 2025年5月30日 | | 香港過戶登記處相關信息 | | | 派息金額 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The coal supply-demand-inventory fundamentals are improving, leading to a stabilization of coal prices, which is favorable for coal allocation [3] - The reduction in coal transportation from Xinjiang may benefit domestic coal prices, as the market is expected to recover with improved fundamentals [6] Summary by Sections Supply and Demand Dynamics - In April 2025, China's raw coal production was 38.931 million tons, a decrease of 5.127 million tons (11.6% month-on-month) from March 2025. Xinjiang's coal production saw a significant decline of 23.8% month-on-month [4][8] - The average price of Shanxi-produced thermal coal at Qinhuangdao Port decreased from 761 to 620 yuan/ton from January to May 2025, indicating a downward trend in coal prices [4] Transportation and Economic Viability - The economic viability of transporting coal from Xinjiang has weakened due to falling prices, which may limit the supply of coal from Xinjiang to other regions [4] - Transportation costs from Xinjiang to various terminal markets were analyzed, showing that transporting coal to Lanzhou is economically viable, while routes to Chongqing and Qinhuangdao are not [18] Production Capacity and Future Outlook - Xinjiang's coal production capacity is expected to increase by over 20 million tons in 2025, with a projected total output of 570 million tons [5][21] - New coal chemical projects in Xinjiang are anticipated to drive an additional demand of approximately 367 million tons of coal, with a focus on local conversion [5][21] Investment Recommendations - The report suggests focusing on coal sector investments, highlighting stable and elastic coal stocks such as China Shenhua, Shaanxi Coal, and others as potential beneficiaries of the market recovery [6][22]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The coal supply-demand inventory fundamentals are improving, leading to a stabilization of coal prices. The report emphasizes the importance of coal allocation [3][6] - Domestic coal production has seen a significant decline, particularly in Xinjiang, where April's output dropped by 23.8% month-on-month [4][8] - The economic viability of coal transportation from Xinjiang has weakened due to falling prices, which may limit external coal supply [4][5] - Xinjiang's coal production capacity is expected to increase by over 20 million tons in 2025, driven by new projects [5][21] - The report suggests that the reduction in coal transportation from Xinjiang will benefit domestic coal prices, with a potential rebound in the market [6] Summary by Sections Industry Overview - The coal market has experienced a structural oversupply, leading to a decrease in coal prices since early 2025. April's coal production was 38.931 million tons, down 11.6% from March [3][4] - Xinjiang's coal production in April was 3.9239 million tons, a decrease of 1.2227 million tons from March [8] Price Trends - From January to May 2025, the average price of Shanxi-produced thermal coal at Qinhuangdao port has consistently declined, with May's price at 620 yuan/ton, reflecting a 6.2% month-on-month drop [4] - The pithead price of thermal coal in Xinjiang has also decreased significantly, with May's average at 337 yuan/ton [4] Supply Dynamics - The report highlights that Xinjiang's coal production capacity is set to expand, with new mines expected to contribute an additional 20 million tons in 2025 [5][21] - The anticipated increase in coal chemical projects in Xinjiang could absorb an additional 367 million tons of coal demand [21] Investment Recommendations - The report recommends focusing on coal sector investments, particularly in companies like China Shenhua, Shaanxi Coal, and others, as the market conditions improve [6][22]

Core Viewpoint - The China Securities Hong Kong 300 Upstream Index (H300 Upstream) has shown significant growth, with a 8.71% increase over the past month, 10.63% over the past three months, and a 5.02% increase year-to-date [2]. Group 1: Index Performance - The H300 Upstream Index is currently reported at 2474.02 points, reflecting a strong upward trend [1]. - The index is based on a sample of securities selected from the China Securities Hong Kong 300 Index, representing the overall performance of various thematic securities listed on the Hong Kong Stock Exchange [2]. Group 2: Index Composition - The top ten holdings of the H300 Upstream Index include: - China National Offshore Oil Corporation (29.31%) - PetroChina Company Limited (12.7%) - China Shenhua Energy Company (10.38%) - Zijin Mining Group (9.79%) - Sinopec Limited (9.47%) - China Hongqiao Group (3.57%) - China Coal Energy Company (3.32%) - Zhaojin Mining Industry Company (3.14%) - Yanzhou Coal Mining Company (2.77%) - Luoyang Molybdenum Company (2.28%) [2]. Group 3: Sector Allocation - The sector allocation of the H300 Upstream Index is as follows: - Oil and Gas: 51.89% - Coal: 18.54% - Precious Metals: 14.87% - Industrial Metals: 10.17% - Rare Metals: 2.98% - Oil and Gas Extraction and Field Services: 1.05% - Other Non-ferrous Metals and Alloys: 0.49% [3]. Group 4: Index Adjustment - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day following the second Friday of June and December each year. Temporary adjustments may occur under special circumstances [3].

● 本报记者 葛瑶 谭丁豪 5月28日，港股三大指数集体回调，能源与航运板块逆市突围，市场进一步分化。快手凭AI商业化落地 大涨逾5%，泡泡玛特、蜜雪集团在创下新高后齐遭回调。南向资金5月净流入逾258.29亿元，更多流向 防御性板块，金融板块吸金超223亿元。 机构人士认为，当前港股估值处于历史中等水平，短期内建议关注受益于扩大内需政策的投资与消费板 块。长期来看，外资长线资金正加大对中国市场的关注力度，港股作为全球资本配置中国核心资产 的"桥头堡"，或迎来估值和盈利的双重修复。 港股市场分化显著 5月28日，港股市场高开低走。Wind数据显示，截至收盘，恒生指数跌0.53%，恒生科技指数跌0.15%， 恒生中国企业指数跌0.31%。板块间分化显著，能源板块逆市领涨，兖矿能源、兖煤澳大利亚分别上涨 2.31%、1.9%，中国神华涨1.2%，联合能源集团、中海油田服务涨超1%；航运主题表现亮眼，中船防 务、中远海能分别涨4.13%、2.81%。 科技板块与消费板块内部分化明显，渐现"高切低"趋势。消费板块中，家电、国货品牌受"618"购物节 预期提振表现稳健。前一日纷纷创下新高的泡泡玛特、蜜雪集团，今日则双双 ...

股票简称：兖矿能源 股票代码：600188 编号：临 2025-039 兖矿能源集团股份有限公司 关于参加 2024 年度沪市主板高分红重回报主题 集体业绩说明会的公告 兖矿能源集团股份有限公司（"公司""本公司"）为进一步加 强与投资者的沟通交流，让广大投资者深入了解公司基本经营情况、 股东回报政策等，公司计划于 2025 年 6 月 5 日（星期四）下午 13:30-16:00 参加由上海证券交易所举办的 2024 年度沪市主板高分 红重回报主题集体业绩说明会，就投资者普遍关注的问题进行交流。 1 会议召开时间：2025年6月5日（星期四）下午13:30-16:00 会议召开地点：上海证券交易所上证路演中心 （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 一、说明会类型 本次投资者说明会以"上证路演中心视频直播和网络互动"形式 召开，公司将在信息披露允许的范围内解答投资者普遍关注的问题。 二、说明会召开的时间、方式 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 ...

行 业 研 究 2025 年 05 月 28 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -36% -24% -12% 0% 12% 24% 2024-05 2024-09 2025-01 煤炭 沪深300 相关研究报告 《供需边际改善致煤价企稳，否极泰 来重视煤炭配置 — 行 业 周 报 》 -2025.5.25 《中美互降关税提振下游需求，否极 泰 来 重 视 煤 炭 配 置 — 行 业 周 报 》 -2025.5.18 《一揽子金融政策稳市场预期，否极 泰 来 重 视 煤 炭 配 置 — 行 业 周 报 》 -2025.5.11 供-需-库存基本面迎利好，否极泰来重视煤炭配置 ——行业点评报告 张绪成（分析师） zhangxucheng@kysec.cn 证书编号：S0790520020003 供给端：煤价下跌致产地供给收缩，进口煤价格倒挂致进口量同环比下降 （1）产地供给收缩：2025 年以来煤价下跌致产地供给持续收缩，4 月国内规上 工业原煤产量 3.9 亿吨，较 3 月份减少 5127.6 万吨，环比-11.6%。分区域来看， 受全国煤炭市场价格持续下行与区域竞争加剧的双重挤压，4 月 ...

行 业 研 究 2025 年 05 月 28 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -36% -24% -12% 0% 12% 24% 2024-05 2024-09 2025-01 煤炭 沪深300 相关研究报告 《供需边际改善致煤价企稳，否极泰 来重视煤炭配置 — 行 业 周 报 》 -2025.5.25 《中美互降关税提振下游需求，否极 泰 来 重 视 煤 炭 配 置 — 行 业 周 报 》 -2025.5.18 《一揽子金融政策稳市场预期，否极 泰 来 重 视 煤 炭 配 置 — 行 业 周 报 》 -2025.5.11 供-需-库存基本面迎利好，否极泰来重视煤炭配置 ——行业点评报告 张绪成（分析师） zhangxucheng@kysec.cn 证书编号：S0790520020003 供给端：煤价下跌致产地供给收缩，进口煤价格倒挂致进口量同环比下降 （1）产地供给收缩：2025 年以来煤价下跌致产地供给持续收缩，4 月国内规上 工业原煤产量 3.9 亿吨，较 3 月份减少 5127.6 万吨，环比-11.6%。分区域来看， 受全国煤炭市场价格持续下行与区域竞争加剧的双重挤压，4 月 ...

Investment Rating - The report rates the coal industry as "Overweight" [1] Core Viewpoints - Coal prices have stabilized at the bottom, with expectations of a turning point in June as national temperatures rise and inventory decreases [3] - The report continues to recommend key companies such as China Shenhua, Shaanxi Coal and Chemical Industry, and Yanzhou Coal Mining Company [4] - April coal production data indicates a significant decline, reflecting the pressure on profitability due to rapid price drops [4] - The report anticipates a rebound in thermal coal prices starting in June, driven by demand recovery and supply adjustments [5] Summary by Sections Thermal Coal Data Tracking - As of May 23, 2025, the price of thermal coal at Huanghua Port (Q5500) is 621 CNY/ton, down 3 CNY/ton (-0.5%) from the previous week [9] - The report notes a decrease in coal production across most provinces, with a national production of 390 million tons in April, down 50 million tons from March [4][4] - Daily iron and steel production has shown signs of reaching a peak, with average daily pig iron production at 2.435 million tons, down 12,000 tons from the previous week [5] Coking Coal Data Tracking - The price of coking coal at major ports remains stable, with slight declines noted [43] - As of May 23, 2025, the price of main coking coal at Jingtang Port (Shanxi origin) is 1300 CNY/ton, unchanged from the previous week [41] - The report highlights a decrease in coking coal inventory at major ports, with a total of 2.94 million tons, down 1.9% from the previous week [63] Market Overview - The report indicates that the overall coal market is experiencing a supply contraction faster than expected, with May production likely to decline further compared to April [4] - The report emphasizes that the domestic supply of coal remains stable while imports are expected to decrease [5] - The report also notes that the price of Australian coking coal has decreased, with the landed price at 203 USD/ton, down 1 USD/ton (-0.5%) [53]