证券代码：600395 证券简称：盘江股份 编号：临 2025-040 贵州盘江精煤股份有限公司 关于向盘江新能源发电（镇宁）有限公司增加投资 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。 重要内容提示： 增资标的名称：盘江新能源发电（镇宁）有限公司（以下简称"新能 源镇宁公司"）。 增资金额：5,580 万元。 1.公司名称：盘江新能源发电（镇宁）有限公司 2.成立时间：2022 年 10 月 8 日 新能源镇宁公司是贵州盘江精煤股份有限公司（以下简称"公司"）所 属全资子公司。经公司第六届董事会 2024 年第五次临时会议审议通过，由 新能源镇宁公司投资建设镇宁县盘江革利风电场项目，项目总投资为27,917 万元。为了满足项目建设需要，按照不低于 20%的项目资本金要求，公司 拟向新能源镇宁公司增加投资 5,580 万元。 （二）本次增资事项决策程序 公司第七届董事会 2025 年第八次临时会议于 2025 年 8 月 8 日以通讯 方式召开，会议以 7 票同意、0 票反对、0 票弃权的表决结果审议通过了《关 于 ...

证券代码：600395 证券简称：盘江股份 编号：临 2025-041 贵州盘江精煤股份有限公司 关于为控股子公司融资提供担保的公告 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。 被担保人名称：贵州盘江马依煤业有限公司（以下简称"马依公司"）， 为贵州盘江精煤股份有限公司（以下简称"公司"）控股子公司。 本次担保金额及已实际为其提供的担保余额：本次担保金额为 164,836 万元，公司已实际为其提供的担保余额为 188,641 万元。 本次担保是否有反担保：马依公司以其持有的马依西一井采矿权向公 司提供相应反担保。 对外担保逾期的累计数量：无。 特别风险提示：本次担保事项尚需提交公司股东会审议，敬请投资者 注意相关风险。 一、担保情况概述 重要内容提示： （一）担保基本情况 为缓解资金压力，降低财务成本，马依公司拟向金融机构申请 164,836 万元额度的融资，用于置换马依西一井项目原有项目贷款。根据授信条件， 公司拟为上述融资提供全额连带责任保证担保，同时马依公司以其持有的 马依西一井采矿权抵押给公司提供反担保。贷款置换后 ...

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。 贵州盘江精煤股份有限公司（以下简称"公司"）第七届董事会 2025 年 第八次临时会议于 2025 年 8 月 8 日以通讯方式召开。会议由公司董事长纪 绍思先生主持，应参加会议董事 7 人，实际参加会议董事 7 人。会议符合 《公司法》和《公司章程》等有关规定，合法有效。 证券代码：600395 证券简称：盘江股份 编号：临 2025-039 贵州盘江精煤股份有限公司 第七届董事会 2025 年第八次临时会议决议公告 表决结果：6 票同意，0 票反对，0 票弃权。根据《上海证券交易所股 票上市规则》等有关规定，与本议案有关联关系的 1 名关联董事回避表决。 出席会议的董事经过认真审议，以记名投票的表决方式，审议通过了 以下议案： 一、关于向盘江新能源发电（镇宁）有限公司增加投资的议案 表决结果：7 票同意，0 票反对，0 票弃权。内容详见上海证券交易所 网站（http://www.sse.com.cn）公司公告（临 2025-040）。 会议同意公司以非公开协议方式向全资子公司 ...

智通财经APP讯，盘江股份(600395.SH)发布公告，盘江新能源发电(镇宁)有限公司(简称"新能源镇宁公 司")是公司所属全资子公司。经公司第六届董事会2024年第五次临时会议审议通过，由新能源镇宁公司 投资建设镇宁县盘江革利风电场项目，项目总投资为2.79亿元。为了满足项目建设需要，按照不低于 20%的项目资本金要求，公司拟向新能源镇宁公司增加投资5580万元。 ...

人民财讯8月8日电，盘江股份（600395）8月8日晚间公告，新能源镇宁公司是公司所属全资子公司。经 公司董事会审议通过，由新能源镇宁公司投资建设镇宁县盘江革利风电场项目，项目总投资为2.79亿 元。为了满足项目建设需要，按照不低于20%的项目资本金要求，公司拟向新能源镇宁公司增加投资 5580万元。 ...

证券代码：600395 证券简称：盘江股份 公告编号：2025-038 贵州盘江精煤股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.04元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/8/12 | － | 2025/8/13 | 2025/8/13 | 差异化分红送转： 否 一、通过分配方案的股东会届次和日期 本次利润分配方案经贵州盘江精煤股份有限公司（以下简称"公司"） 2025 年 6 月 26 日的2024年年度股东大会审议通过。 二、分配方案 1.发放年度：2024年年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有 限责任公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公 司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本 ...

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The current phase is the early stage of a new upward cycle in the coal economy, driven by both fundamental and policy factors, making it an opportune time to invest in the coal sector during price corrections [11][12] - The supply side is tightening due to a decrease in coal mine capacity utilization rates, while demand is increasing, particularly in inland provinces [11][12] - The coal price has established a new support level, and high-quality coal companies are characterized by strong profitability, cash flow, return on equity (ROE), and dividends [11][12] Summary by Sections Coal Price Tracking - As of August 2, the market price for Qinhuangdao port thermal coal (Q5500) is 655 CNY/ton, up 10 CNY/ton week-on-week [3][28] - The price for coking coal at Jingtang port remains stable at 1650 CNY/ton [30] Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 90.9%, down 3.1 percentage points week-on-week [11][45] - Daily coal consumption in inland provinces increased by 44.4 thousand tons/day (+13.05%) [11][46] - The daily coal consumption in coastal provinces rose by 1.0 thousand tons/day (+0.45%) [11][46] Inventory Situation - As of July 31, coal inventory in inland provinces decreased by 1.20% week-on-week, while daily consumption increased [46] - Coastal provinces saw a 1.08% decrease in coal inventory week-on-week [46] Company Performance - The coal sector is characterized by high performance, cash flow, and dividends, with a focus on companies like China Shenhua, Shaanxi Coal and Energy, and others [12][13]

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The current phase is seen as the beginning of a new upward cycle in the coal economy, supported by both fundamental and policy factors, making it an opportune time to invest in the coal sector [11][12] - The report highlights a tightening supply side due to government policies aimed at curbing overproduction, which is expected to support a rebound in coal prices [3][11] - The underlying investment logic of coal capacity shortages remains unchanged, with a balanced short-term supply-demand situation and a medium to long-term gap still anticipated [11][12] Summary by Sections Coal Price Tracking - As of July 26, the market price for Qinhuangdao port thermal coal (Q5500) is 645 CNY/ton, an increase of 11 CNY/ton week-on-week [30] - The price for coking coal at Jing Tang port is reported at 1650 CNY/ton, up 230 CNY/ton week-on-week [32] Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 94%, down 0.6 percentage points week-on-week, while the utilization rate for coking coal mines is 86.9%, up 0.8 percentage points [11][42] - Daily coal consumption in inland provinces has decreased by 51,000 tons/day (-13.04%) and in coastal provinces by 19,600 tons/day (-8.1%) [11][42] Inventory Situation - Coal inventory in coastal provinces increased by 429,000 tons week-on-week, while inland provinces saw a slight increase of 85,000 tons [11] Company Performance - The coal sector has shown strong performance, with the coal mining sector rising by 8.00% this week, outperforming the broader market [15][17] - Key companies to focus on include China Shenhua, Shaanxi Coal and Chemical Industry, and China Coal Energy, which are noted for their stable operations and solid performance [12][13]

Core Points - The stock price of Panjiang Coal (600395) increased by 6.95% this week, closing at 5.23 yuan, with a market capitalization of 11.227 billion yuan [1] - The company approved an investment of 144 million yuan in its wholly-owned subsidiary, Panjiang New Energy Power (Panzhou) Co., Ltd., for the construction of the Luoxi River Wind Farm project [1][4] - The company also modified several corporate governance systems, including the working rules of the board committees and the management system for shareholders and executives [1][4] Financial Performance - As of the end of the reporting period, the company had a cash balance of 1.71 billion yuan, accounting for 27.22% of current assets, with an average cash balance of 2.26 billion yuan over four quarters [2] - The company's debt-to-asset ratio was 73.56%, an increase of 8.99 percentage points from the previous year, with interest-bearing liabilities amounting to 20.968 billion yuan, a year-on-year increase of 73% [2] - Interest expenses for the reporting period were 326 million yuan, reflecting a year-on-year increase of 90.1% [2] Project Updates - The company disclosed that the book value of construction in progress was 8.051 billion yuan, representing 21.66% of non-current assets, with some projects experiencing delays and frequent budget adjustments [2] - Detailed disclosures were made regarding the "Coal (Coke, Chemical) - Steel - Electricity" integrated circular economy industrial base project, including its background, construction changes, and impairment provisions [2]

Core Points - The company held its seventh temporary board meeting on July 18, 2025, where all seven directors participated and approved key resolutions [1][2]. Group 1: Investment Decisions - The board approved an investment of 144 million yuan in its wholly-owned subsidiary, Panjiang New Energy Power (Panzhou) Co., Ltd., to increase its registered capital for the construction of the Luoxi River Wind Farm project in Panzhou [1]. Group 2: Governance Modifications - The board agreed to modify certain corporate governance systems to enhance operational standards and governance levels, specifically updating the management measures for shares held by shareholders, directors, and senior management [2].