Core Viewpoint - The company, Anyuan Coal Industry, announced a change in its stock abbreviation to "Jiangxi Tungsten Equipment" to align with its new name and business scope, effective September 26, 2025. This change will not significantly impact the company's current operating performance or alter its main business and development strategy. There is no intention to mislead investors or influence stock prices through this abbreviation change [1]. Summary by Categories - **Company Name Change**: The company will change its stock abbreviation to "Jiangxi Tungsten Equipment" to reflect its new name and business scope [1]. - **Impact on Operations**: The abbreviation change is not expected to have a significant impact on the company's current operating performance [1]. - **Business Strategy**: The main business and development strategy of the company will remain unchanged despite the abbreviation change [1]. - **Investor Communication**: The company emphasizes that there is no intention to mislead investors or manipulate stock prices through this change [1].

Investment Rating - The report maintains a "Recommended" rating for the coal industry, indicating a positive outlook for the sector's fundamentals and expected performance relative to the market index [4]. Core Insights - The report highlights that coal prices have rebounded due to non-electric demand and winter stockpiling, with significant price increases observed in various coal indices as of September 19, 2025 [10][11]. - The report notes a slight recovery in the coking coal market, driven by pre-holiday stockpiling by downstream steel companies, although further price increases may be limited [10]. - The overall sentiment in the coal market remains strong, with expectations of continued price strength in the short term, despite potential constraints from rising prices affecting purchasing enthusiasm [10]. Summary by Sections 1. Investment View - As of September 19, 2025, the price indices for various coal types have shown significant weekly increases, with the Yulin 5800 index at 598.0 CNY/ton (+44.0 CNY), the Ordos 5500 index at 521.0 CNY/ton (+19.0 CNY), and the Datong 5500 index at 576.0 CNY/ton (+21.0 CNY) [10]. - The coking coal market has stabilized, with prices for major coking coal indices also showing increases, such as the Shanxi main coking coal at 1610 CNY/ton (+60 CNY) [10]. 2. Coal Sector Performance and Stock Review - The coal mining index increased by 3.77% while the broader Shanghai and Shenzhen 300 index decreased by 0.44%, indicating a relative outperformance of coal stocks [11]. - Major coal companies have shown varied performance, with significant gains for companies like Yongtai Energy (+13.42%) and Luan Environmental Energy (+13.04%) [11]. 3. Key Company Valuations - The report provides detailed valuations for key coal companies, including China Shenhua (total market value: 755.35 billion CNY, PE: 12.9), Shaanxi Coal (total market value: 200.88 billion CNY, PE: 9.0), and others, indicating a range of valuations and expected profitability [42].

Summary of Conference Call Records Industry Overview: Non-Ferrous Metals - The non-ferrous metals sector is benefiting from the global macro cycle, with U.S. interest rate cuts and Trump-era policies releasing liquidity, driving resource prices into an upward cycle [1][2] - The anticipated interest rate cuts in Q4 2025 and the increase in the U.S. debt ceiling are expected to have significant impacts on the sector [1][2] Key Insights on Gold Stocks - Gold stocks have shown high certainty in the current market, experiencing a 20% pullback despite gold price fluctuations [4] - Historical data indicates that prior to price increases, gold stocks typically see a rise in both EPS and PE [4] - The average gold price in 2025 is projected to be significantly higher than in 2024, suggesting strong performance for companies like Shandong Gold, Chifeng Jilong Gold, and Zhongjin Gold [4] Electrolytic Aluminum Sector - The supply of electrolytic aluminum is constrained, with actual new capacity in early 2025 expected to be around 500,000 to 600,000 tons, lower than the anticipated 1 million tons [5] - Global PMI recovery is expected to gradually restore demand for electrolytic aluminum, with price expectations increasing [5] - The sector's valuation is at historical lows, with mainstream stocks valued at less than 10 times earnings, indicating significant room for recovery [6] Copper Sector Outlook - The copper sector presents investment opportunities driven by financial and industrial attributes, with expectations of price increases due to U.S. interest rate cuts and improved demand from China [7][8] - Supply disruptions from global mining events are contributing to a tightening supply situation, while demand is expected to grow due to macroeconomic factors [7][8] Tungsten Market Dynamics - The rise in tungsten prices is driven by supply contraction, export controls, and its strategic importance [3][9] - China's tungsten product exports have significantly decreased, leading to shortages in overseas markets [10] - The impact of export quotas on prices is critical, with expectations of a potential price increase if the second batch of quotas is reduced [12] Companies to Watch - Recommended companies include Shandong Gold, Chifeng Jilong Gold, Zhongjin Gold, Xiamen Tungsten, China Tungsten High-Tech, and Anyuan Coal Industry, which are seen as having investment potential in the current market environment [4][14]

Core Viewpoint - The coal mining sector experienced a slight decline of 0.33% on September 12, with New Dazhou A leading the losses, while the overall market indices showed modest gains [1][2]. Group 1: Market Performance - The Shanghai Composite Index closed at 3883.69, up 0.22%, and the Shenzhen Component Index closed at 12996.38, up 0.13% [1]. - The coal mining sector's individual stock performance varied, with notable gainers including Jin Kong Coal Industry (up 3.46%) and Yongtai Energy (up 3.45%) [1]. Group 2: Stock Details - Key stocks in the coal mining sector included: - Jin Kong Coal Industry: Closing price 13.16, volume 269,300, turnover 3.49 billion [1]. - Yongtai Energy: Closing price 1.50, volume 10,248,400, turnover 1.51 billion [1]. - New Dazhou A: Closing price 5.11, down 2.11%, volume 126,600, turnover 65.03 million [2]. Group 3: Capital Flow - The coal mining sector saw a net outflow of 161 million from main funds, while retail investors contributed a net inflow of 115 million [2][3]. - Notable capital flows included: - Yongtai Energy: Main funds net inflow of 152 million, retail net outflow of 61.77 million [3]. - Shaanxi Coal Industry: Main funds net inflow of 52.84 million, retail net outflow of 40.82 million [3].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600397 | 安源煤业 | 7.72 | -2.53% | 35.91万 | 2.79亿 | | 002128 | 电投能源 | 21.94 | -2.14% | 8.30万 | 1.83亿 | | 600985 | 淮北矿业 | 12.06 | -1.95% | 14.32万 | 1.73亿 | | 000983 | 山西焦煤 | 6.89 | -1.85% | 49.47万 | 3.42亿 | | 600348 | 不相服役 | 6.97 | -1.83% | 28.05万 | 1.96 Z | | 661699 | 路安环能 | 12.96 | -1.59% | 18.15万 | 2.36亿 | | 603071 | 物产环能 | 13.76 | -1.57% | 1.78万 | 2448.61万 | | 601001 | 晋控煤业 | 12.68 | -1.55% | 12.04万 | 1.53亿 | | 601225 | 陕西煤业 | ...

2025年第三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。 证券代码：600397 证券简称：安源煤业 公告编号：2025-074 安源煤业集团股份有限公司 重要内容提示： ● 本次会议是否有否决议案：无 (二)股东大会召开的地点：江西省南昌市南昌高新技术产业开发区火炬大街188号公司会议室 (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： ■ (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。 本次股东大会由公司董事会召集，董事长熊旭晴先生因工作原因不能主持本次股东大会。根据《公司章 程》的相关规定，经董事会半数以上董事同意，推举董事潘长福先生主持本次股东大会。会议采取现场 记名投票与网络投票相结合的方式，表决方式符合《公司法》及《公司章程》的规定。 (五)公司董事、监事和董事会秘书的出席情况 二、议案审议情况 (一)非累积投票议案 1、议案名称：《关于变更公司名称、变更经营范围并修改公司章程的议案》 一、会议召开和出席情况 (一)股东大会召开的时间：2025 ...

（文章来源：证券日报） 证券日报网讯 9月9日晚间，安源煤业发布公告称，公司2025年第三次临时股东大会于2025年9月9日召 开，审议通过了《关于变更公司名称、变更经营范围并修改公司章程的议案》。 ...

江西江钨稀贵装备股份有限公司章程 （经公司 2025 年第三次临时股东大会审议通过） 二○二五年九月 1 | | | | | | | | | 第一章 总 则 第一条 为维护公司、股东和债权人的合法权益，规范公司的组织和行为，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》）《中华人民共和国企业国有资产法》《企业国有资产监督管理暂行条例》 《中共中央、国务院关于深化国有企业改革的指导意见》《中共中央办公厅关于在深化 国有企业改革中坚持党的领导加强党的建设的若干意见》《中国共产党国有企业基层组 织工作条例(试行)》《上市公司独立董事管理办法》《上海证券交易所股票上市规则》《上 海证券交易所上市公司自律监管指引第 1 号—规范运作》等规定，结合公司实际情况， 制订本章程。 第二条 江西江钨稀贵装备股份有限公司（以下简称"公司"）系依照《公司法》 和其他有关规定成立的股份有限公司。 公司经江西省人民政府赣股〔1999〕16号《股份有限公司批准证书》批准，由萍 乡矿业集团有限责任公司联合西安交通大学、江西省煤矿机械厂、江西鹰潭东方铜材 有限责任公司、分宜特种电机厂、萍乡 ...

证券代码：600397 证券简称：安源煤业 公告编号：2025-074 安源煤业集团股份有限公司 2025年第三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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 9 月 9 日 (二)股东大会召开的地点：江西省南昌市南昌高新技术产业开发区火炬大街 188 号公司会议室 (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 | 1,055 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 464,067,569 | | 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（%） | 46.8774 | (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。 本次股东大会由公司董事会召集，董事长熊旭晴先生因工作原因不能主持本 次股东大会。根据《公司章程》的相关规定，经董事 ...

江西豫章律师事务所 关于安源煤业集团股份有限公司 2025 年第三次临时股东大会的 法 律 意 见 书 豫章股字[2025]第 003 号 中国·江西·南昌 江西省南昌市红谷滩区世贸路 138 号宏创发展中心 11 楼 邮编 330038 电 话 （ T e l ） ： （ 0 7 9 1 ） - 8 6 6 1 7 6 6 8 传 真 （ F a x ） ： （ 0 7 9 1 ） - 8 6 6 3 1 1 1 6 二〇二五年九月 关于安源煤业集团股份有限公司 2025 年第三次临时股东大会的 法 律 意 见 书 豫章股字[2025]第 003 号 致：安源煤业集团股份有限公司 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股东 大会规则》和《上海证券交易所股票上市规则》等我国现行有关法律、法规、规 范性文件以及安源煤业集团股份有限公司（以下简称"公司"）《公司章程》的 规定，江西豫章律师事务所（以下简称"本所"）接受公司的委托，指派陈星杰 律师、彭素涵律师出席公司于 2025 年 9 月 9 日召开的公司 2025 年第三次临时股 东大会（以下简称"本次股东大会"），并就本次股东大会的相 ...