证券代码：600256 证券简称：广汇能源 公告编号：2025-077 广汇能源股份有限公司 关于优化公司组织机构及职能的公告 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。 根据企业发展战略、国家政策及行业发展趋势，广汇能源股份有 限公司（简称"公司"）坚持以"强市场、强管理、强效益"为发展 目标，持续优化企业管理体系，科学整合资源配置，增强创新驱动力， 不断提升企业运营效率与管控能力。为进一步落实"控总量、调结构、 提质量"工作要求，结合 2025 年工作实际情况，公司于 2025 年 9 月 19 日召开了董事会第九届第十九次会议，审议通过了《广汇能源股 份有限公司关于优化公司组织机构及职能的议案》，同意对公司部分 组织机构及职能给予优化，具体情况如下： 一、增设生产技术研发部 为有效保障企业安全运营，打造传统煤化工向现代煤化工、现代 煤化工向新能源和氢能"两个耦合"发展的新局面，高效增强企业的 核心竞争力和可持续发展能力，现新设生产技术研发部，并将原运营 投资部下设的投资发展团队职能及编制划入生产技术研发部，部门职 ...

证券代码：600256 证券简称：广汇能源 公告编号：2025-074 广汇能源股份有限公司 2025年第二次临时股东大会决议公告 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： （二）股东大会召开的地点：乌鲁木齐市新华北路 165 号中天广场 27 楼会议室 （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 | 2,440 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 2,586,847,956 | | 3、出席会议的股东所持有表决权股份数占公司有 | | | 表决权股份总数的比例（%） | 40.4700 | （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。 本次股东大会表决方式符合《公司法》及《公司章程》的规定。本次 会议由公司董事会召集，董事长韩士发先生主持。 （五）公司董事、监事和董事会秘书的出席情况 1、公司在任董事11人，出席11人，其中：副董事长蔺剑，董事闫军、 薛小春及 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于广汇能源股份有限公司 2025 年第二次临时股东大会的 法律意见书 国枫律股字[2025]A0475号 致：广汇能源股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2025 年第二次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人 民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以下简称 "《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券法律 业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证券法 律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《广汇能源股份有限 公司章程》（以下简称"《公司章程》"）的规定，就本次会议的召集与召开程序、召集 人资格、出席会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 ...

重要内容提示： 无董事对本次董事会议案投反对或弃权票。 本次董事会议案全部获得通过。 一、董事会会议召开情况 （一）本次董事会会议的召开符合《公司法》《证券法》和《公 司章程》的有关规定。 （二）本次会议通知和议案于 2025 年 9 月 13 日以通讯方式向各 位董事发出。 证券代码：600256 证券简称：广汇能源 公告编号：2025-075 广汇能源股份有限公司 董事会第九届第十九次会议决议公告 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 整性承担法律责任。 （三）本次董事会于 2025 年 9 月 19 日在乌鲁木齐市新华北路 165 号中天广场 27 楼会议室以现场和通讯相结合的方式召开。 （四）本次会议由公司董事长韩士发先生主持，应到会董事 11 人（其中：独立董事 4 人），实际到会董事 11 人，其中：副董事长蔺 剑，董事闫军、张涛及独立董事蔡镇疆、甄卫军、高丽以通讯方式出 席本次会议。 （五）本次会议由公司董事长韩士发先生主持，公司全部高级管 理人员列席了会议。 二、董事会会议审议情况 （一）审议通过了《广汇能源股份有限公 ...

Group 1 - The Energy ETF Guangfa (159945) opened down 0.54% at 1.100 yuan [1] - Major holdings in the Energy ETF Guangfa include China Shenhua down 0.08%, China Petroleum down 0.24%, China Petrochemical down 0.18%, Shaanxi Coal and Chemical Industry down 0.53%, China National Offshore Oil Corporation down 0.41%, Guanghui Energy unchanged, Yanzhou Coal Mining down 0.22%, Jereh down 0.39%, China Coal Energy down 0.34%, and Shanxi Coking Coal down 1.20% [1] - The performance benchmark for the Energy ETF Guangfa is the CSI All Share Energy Index, managed by Guangfa Fund Management Co., Ltd., with a fund manager named Yao Xi [1] Group 2 - Since its establishment on June 25, 2015, the Energy ETF Guangfa has returned 10.82%, with a return of 0.38% over the past month [1]

Investment Rating - The report maintains a "Recommended" rating for the coal mining industry [1] Core Insights - In August, coal production continued to decline, while thermal power demand showed year-on-year growth, and coal prices increased significantly month-on-month [1][11] - The overall coal supply in August decreased by 3.6% year-on-year, with a narrowing decline compared to July [25] - The report highlights a positive outlook for coal companies due to high cash flow, profitability, and dividend yields, suggesting a focus on value attributes in the coal sector [11] Supply Analysis - In August, the industrial raw coal production was 390 million tons, a year-on-year decrease of 3.2%, with the decline narrowing by 0.6 percentage points compared to July [17][19] - Daily average production in August was 12.6 million tons, an increase of 307,000 tons per day month-on-month, but a decrease of 195,000 tons per day year-on-year [19] - Coal imports in August were 42.74 million tons, down 6.77% year-on-year, with the decline narrowing by 16 percentage points compared to July [24] Demand Analysis - Thermal power demand in August increased by 1.7% year-on-year, although the growth rate slowed by 2.6 percentage points compared to July [26] - The total industrial electricity generation in August was 936.3 billion kWh, a year-on-year increase of 1.6% [18] - The report notes that the construction and manufacturing sectors showed slight slowdowns, while the real estate market remained weak [34] Inventory and Price Trends - By the end of August, coal inventories at northern ports decreased by 2.505 million tons to 22.232 million tons, showing a significant reduction year-on-year [10] - The report indicates that the coal price at Qinhuangdao port for 5500 kcal coal increased by 51.37 CNY/ton month-on-month, reflecting a rise of 8.05% [11] Company Focus and Recommendations - The report emphasizes the importance of focusing on robust companies such as China Shenhua, Shaanxi Coal, and China Coal Energy, which exhibit strong financial health and growth potential [11] - It suggests that investors consider companies with high dividend yields and cash flow, highlighting the investment value of coal stocks in the current market environment [11]

Core Viewpoint - The coal supply-demand fundamentals are expected to improve due to the "check overproduction" policy leading to reduced output and the anticipated recovery in non-electric coal demand during the "golden September and silver October" peak season, providing upward price elasticity for both types of coal [1][3]. Group 1: Coal Price Dynamics - Thermal coal is categorized as a policy coal type, with expectations for prices to rebound to long-term contract prices, recently surpassing the second target price of around 700 CNY per ton [2]. - The current adjustment in prices is attributed to the seasonal transition from summer to autumn, which has weakened coal consumption, but the upcoming peak season is expected to drive prices up again, particularly in the chemical sector [2][3]. - Coking coal prices are more influenced by supply-demand fundamentals, with target prices based on the ratio of coking coal to thermal coal prices, indicating potential target prices of 1608 CNY, 1680 CNY, 1800 CNY, and 2064 CNY for different levels of market performance [2]. Group 2: Investment Opportunities - The coal sector exhibits dual attributes of cyclical elasticity and stable dividends, with many coal companies maintaining high dividend yields despite overall profit pressures [3]. - Six listed coal companies have announced interim dividend plans totaling 24.13 billion CNY, reflecting a strong commitment to shareholder returns [3]. - Key coal stocks benefiting from these trends include: - Cycle logic: Jin控煤业, 兖矿能源, 平煤股份, 淮北矿业, 潞安环能 - Dividend logic: 中国神华, 中煤能源, 陕西煤业 - Diversified aluminum elasticity: 神火股份, 电投能源 - Growth logic: 新集能源, 广汇能源 [3].

Group 1 - The core viewpoint of the article highlights the growth of industrial enterprises in the Xinjiang Uygur Autonomous Region, with a total of 5,381 enterprises reported from January to July 2025, marking an increase of 465 enterprises compared to the same period last year, representing a year-on-year growth of 9.46% [1][1][1] - The report indicates that the number of industrial enterprises in Xinjiang accounts for 1.03% of the national total [1][1][1] - The data presented is sourced from the National Bureau of Statistics and organized by Zhiyan Consulting, a leading industry consulting firm in China [1][1][1] Group 2 - The article references various listed companies related to the industrial sector, including Guanghui Energy, New Natural Gas, and others, indicating potential investment opportunities [1][1][1] - Zhiyan Consulting has been engaged in industry research for over a decade, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [1][1][1] - The report titled "2025-2031 China Industrial Cloud Industry Market Deep Assessment and Investment Opportunity Forecast" is mentioned, suggesting a focus on future market trends and investment potential [1][1][1]

广汇能源股份有限公司（600256） 广汇能源股份有限公司（600256） 目 录 | 广汇能源股份有限公司 2025 年第二次临时股东大会会议议程 | 3 | | --- | --- | | 广汇能源股份有限公司 2025 年第二次临时股东大会会议须知 | 5 | | 广汇能源股份有限公司关于制定公司未来三年（2025-2027 年）股东 | | | 回报规划的议案 | 6 | | 广汇能源股份有限公司关于更换董事的议案 | 7 | | 广汇能源股份有限公司关于更换独立董事的议案 | 9 | | 广汇能源股份有限公司关于增补公司内部问责委员会成员的议案 | 11 | | 广汇能源股份有限公司关于取消监事会并废止《监事会议事规则》的 | | | 议案 | 12 | | 广汇能源股份有限公司关于修订《公司章程》部分条款的议案 .. | 13 | | 广汇能源股份有限公司关于修订公司部分内控制度的议案 | 16 | | 广汇能源股份有限公司关于续聘会计师事务所的议案 | 18 | 广汇能源股份有限公司（600256） （证券代码：600256） 广汇能源股份有限公司 2025 年第二次临时股东大会 会议材料 二○ ...

Core Viewpoint - The coal industry has faced significant profit declines in the first half of the year, but certain companies, particularly Guanghui Energy, are expected to recover due to rising coal prices and strong cash flow supporting high dividend payouts [1][2]. Group 1: Industry Performance - The total profit of the coal mining and washing industry in the first half of the year was 149.16 billion yuan, a year-on-year decrease of 52.9% [1]. - Guanghui Energy, along with 14 other companies, outperformed the industry average in terms of profit [1]. - The report from Guosheng Securities indicates that coal prices have likely reached a low point in June, suggesting a potential recovery in profitability for coal companies [1]. Group 2: Guanghui Energy's Financials - Guanghui Energy's dividend yield (TTM) stands at 12.12%, the highest in the SW coal industry, significantly above the second-ranked Jizhong Energy at 10.08% [1]. - The company reported a net cash flow from operating activities of 2.823 billion yuan in the first half of 2025, a year-on-year increase of 7.59% [2]. - As of June 30, 2025, Guanghui Energy's undistributed profits reached 14.634 billion yuan, providing a solid foundation for future dividends [2]. Group 3: Shareholder Returns - In the first half of the year, Guanghui Energy repurchased 844,200 shares, spending over 5 million yuan, and has cumulatively repurchased 69.6995 million shares for a total of 505 million yuan [3]. - The company distributed cash dividends of 3.976 billion yuan for the 2024 fiscal year, with an actual cash distribution of 0.70022 yuan per share [3]. - Guanghui Energy has committed to distributing at least 90% of the average distributable profits over the next three years (2025-2027) [3]. Group 4: Business Expansion - In the first half of 2025, Guanghui Energy's coal production reached 26.8694 million tons, a year-on-year increase of 175.11%, with total coal sales of 27.6444 million tons, up 75.97% [4]. - The company is advancing its coal mining projects, including the Ma Lang No. 1 coal mine, which is progressing smoothly with necessary approvals obtained [4]. - Analysts from various brokerages have expressed optimism about Guanghui Energy's coal, coal chemical, and oil and gas businesses, highlighting the company's growth potential [5][6].