证券代码：600408 证券简称：安泰集团 编号：临 2025-020 山西安泰集团股份有限公司 第十一届董事会二○二五年第二次临时会议决议公告 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。 山西安泰集团股份有限公司（以下简称"公司"）第十一届董事会二○二五年 第二次临时会议于 2025 年 6 月 6 日上午以现场与通讯召开相结合的方式进行。会议 通知于 2025 年 6 月 4 日以书面送达、传真、电子邮件的方式发出。会议应参加表决 董事 7 人，实际参加表决董事 7 人，其中 3 名独立董事以通讯方式参与表决。现场 会议由董事长杨锦龙先生主持，公司全体监事会成员、高级管理人员列席了本次 会议，符合《公司法》及《公司章程》有关召开董事会的规定。 本次会议第二项议案在提交公司董事会审议前，已经过独立董事专门会议审议 并出具审查意见；本次会议第四项议案已经公司第十一届董事会提名委员会 2025 年 第一次会议审议，对董事候选人的任职资格进行了审查；本次会议第五项议案已 经公司第十一届董事会薪酬与考核委员会 2025 年第二次 ...

Investment Rating - The coal industry maintains a rating of "Synchronize with the Market-A" [1] Core Viewpoints - The coal market is returning to supply-demand logic following the resolution of tariff disputes, with expectations of improved demand as summer approaches [1][8] - The report highlights that while coal prices are under pressure due to seasonal factors and inventory adjustments, the potential for recovery in non-electric coal demand exists as the international trade environment improves [8][81] Summary by Sections 1. Coal Industry Dynamic Data Tracking - **Thermal Coal**: Inventory levels are decreasing, and summer stocking demand is anticipated. As of May 16, the spot reference price for thermal coal in the Bohai Rim is 629 CNY/ton, with a weekly change of -2.18% [3][23] - **Metallurgical Coal**: The external trade environment is improving, and metallurgical coal continues to deplete inventories. The price for main coking coal at Jingtang Port is 1320 CNY/ton, unchanged from the previous week [4][35] - **Coking Steel Chain**: Increased operational rates have led to a slight decline in coking coal prices. The average price for first-grade metallurgical coke is 1480 CNY/ton, down 3.27% [5][54] - **Coal Transportation**: Increased stocking demand has stabilized coastal transportation prices, with the coastal coal transportation index at 661.75 points, up 3.34% [6][64] - **Coal-related Futures**: Downstream operational rates have decreased, leading to a decline in double焦期价 [66] 2. Coal Sector Market Review - The coal sector has rebounded alongside the broader market, outperforming major indices. The CITIC coal index closed at 3244.52 points, with a weekly change of +1.65% [7][71] 3. Industry News Summary - Recent government initiatives emphasize strengthening domestic circulation and enhancing the coal industry's clean and efficient utilization [79][80] - The construction of a new cross-border railway between China and Mongolia is expected to significantly boost coal exports from Mongolia, reshaping trade dynamics [80] 4. Important Announcements from Listed Companies - Major companies in the coal sector are actively managing operational challenges and pursuing strategic initiatives, including asset restructuring and safety measures following incidents [81][83] 5. Next Week's Outlook and Investment Recommendations - The report suggests that while coal prices may face downward pressure, the upcoming summer stocking demand and improved tariff conditions could support price stability. Investors are advised to focus on undervalued companies with solid performance support [8][81]

Investment Rating - The coal industry maintains a "Synchronize with the Market" rating [1] Core Viewpoints - The coal market is returning to supply-demand logic following the resolution of tariff disputes, with expectations of improved non-electric demand as summer approaches [1][10] - The report highlights that while coal prices have seen some decline, the potential for further decreases is limited due to upcoming summer stocking demands and improved international trade conditions [10] Summary by Sections 1. Coal Industry Dynamic Data Tracking - **Thermal Coal**: Inventory levels are decreasing, and summer stocking demand is anticipated. As of May 16, the spot reference price for thermal coal in the Bohai Rim is 629 CNY/ton, with a weekly change of -2.18% [3][25] - **Metallurgical Coal**: The external trade environment is improving, leading to continued inventory reduction. The price for main coking coal at Jingtang Port is 1320 CNY/ton, unchanged from the previous week [4][37] - **Coke and Steel Industry Chain**: Increased operational rates have led to a slight decline in coke prices. The average price for first-grade metallurgical coke at Tianjin Port is 1480 CNY/ton, down 3.27% week-on-week [5][55] - **Coal Transportation**: There is an increase in stocking demand, with the coastal coal transportation price index at 661.75 points, up 3.34% [8][66] - **Coal-related Futures**: Downstream operational rates have decreased, leading to a decline in both coking coal and coke futures prices [68] 2. Coal Sector Market Review - The coal sector has rebounded alongside the broader market, outperforming major indices. The CITIC Coal Index closed at 3244.52 points, with a weekly change of +1.65% [9][73] 3. Industry News Summary - Recent government initiatives emphasize strengthening domestic circulation and enhancing the coal industry's clean and efficient utilization [80][81] - The construction of a new cross-border railway between China and Mongolia is expected to significantly boost coal exports from Mongolia, reshaping trade dynamics [82] 4. Important Announcements from Listed Companies - Several companies have reported operational updates, including production adjustments and strategic asset acquisitions, reflecting ongoing developments in the coal sector [83][85] 5. Next Week's Outlook and Investment Recommendations - The report suggests focusing on undervalued companies with strong performance support, particularly those with minimal non-coal business exposure, such as Xinjie Energy and Huohua Energy [10]

一、说明会类型 为进一步加强与投资者的互动交流，本公司将参加由山西证监局、山西省上市 公司协会与深圳市全景网络有限公司联合举办的"山西辖区上市公司 2025 年投资者 网上集体接待日暨年报业绩说明会"。届时公司高管将在线就公司 2024 年度业绩、 公司治理、经营状况、发展战略等投资者关心的问题，与投资者进行沟通与交流。 证券代码：600408 证券简称：安泰集团 编号：临 2025—019 山西安泰集团股份有限公司 关于参加山西辖区上市公司 2025 年 投资者网上集体接待日暨年报业绩说明会的预告公告 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： 本次说明会召开之后，投资者可以继续通过"全景路演"选择公司观看本次 说明会的召开情况及主要内容。欢迎广大投资者积极参与。 特此公告 山西安泰集团股份有限公司 董 事 会 二、说明会方式 本次说明会将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号"全景财经"，或下载全景路演 APP, 参与本次互动交流， ...

Core Viewpoint - Shanxi Antai Group Co., Ltd. is experiencing significant operational challenges, with a reported revenue decline and continued net losses, alongside regulatory scrutiny due to related party fund misuse [2][3][6]. Financial Performance - In 2024, Antai Group reported a revenue of 6.676 billion yuan, a year-on-year decrease of 33.29%, and a net loss of 335 million yuan, marking the third consecutive year of losses [3][4]. - The revenue in 2024 is approximately half of the peak revenue of 12.990 billion yuan achieved in 2021 [3]. - The net profit trend from 2019 to 2024 shows a decline from a profit of 457 million yuan in 2019 to a loss of 335 million yuan in 2024 [3]. Business Operations - The core business includes the production and sales of coke and section steel, with the coke business transitioning to a processing model, leading to a significant revenue drop [4][5]. - In 2024, the company produced 810,500 tons of self-produced coke and 941,000 tons of processed coke, with the latter exceeding self-produced amounts [4]. - The section steel business maintained stable production and sales at 1.2369 million tons and 1.2256 million tons, respectively, but growth remains limited due to market conditions [5]. Regulatory Issues - Antai Group faced regulatory action from the China Securities Regulatory Commission for the misuse of 150 million yuan in funds by related parties, which was not disclosed in a timely manner [6][7]. - The company received a warning letter from the regulatory body, indicating potential for increased scrutiny in the future [6][7]. Management Response - Antai Group plans to enhance its internal controls and compliance awareness to prevent future occurrences of fund misuse and improve operational transparency [8].

Core Viewpoint - The company, Shanxi Antai Group Co., Ltd., is facing significant challenges in the steel and coking industry due to weak global economic growth and insufficient domestic demand, leading to a notable decline in profits and operational difficulties [3][12][43]. Company Overview - The company primarily engages in the production and sale of coke and H-beam products, with an annual capacity of 2.4 million tons of high-quality metallurgical coke and a 1.2 million-ton H-beam production line [4][12]. - The company has implemented a comprehensive management system to enhance production efficiency and has invested in resource recycling and energy recovery initiatives [7][4]. Industry Context - The steel and coking industry is experiencing a downturn, characterized by a persistent supply-demand imbalance, declining steel prices, and reduced profits for steel mills, which in turn affects the demand for coke [3][12]. - The coking market is also under pressure, with a significant drop in coke prices due to decreased demand from the construction and real estate sectors [3][12]. Financial Performance - In 2024, the company produced 810,500 tons of coke and sold 821,600 tons, while also processing 940,600 tons of coke for third parties, resulting in a total revenue of 6.676 billion yuan, a decrease of 33.29% year-on-year [12][43]. - The net profit attributable to the parent company was -335 million yuan, indicating a substantial reduction in losses compared to the previous year [12][43]. Operational Strategies - The company has adopted various operational improvement measures, including transitioning to a processing model for its coke business to mitigate losses and enhance risk management [8][12]. - Efforts to control energy consumption and enhance cost management have been prioritized, alongside initiatives to strengthen brand recognition and digital transformation [9][8]. Future Outlook - The management plans to focus on improving operational performance through long-term cooperation agreements in the coking business and enhancing product profitability in the H-beam segment [44]. - The company aims to expand its high-margin business areas and strengthen internal management to ensure stable production and improve financial results [44].

为明确山西安泰集团股份有限公司（以下简称"公司"）董事会的职责权 限，规范董事会内部机构、议事及决策程序，充分发挥董事会的经营决 策中心的作用，根据《中华人民共和国公司法》（以下称"《公司法》"）、 《中华人民共和国证券法》（以下称"《证券法》"）及其他法律、法规、 规范性文件以及《山西安泰集团股份有限公司章程》（以下称"公司章 程"），特制定本议事规则。 董事会定期会议每年至少召开两次，并应当在上下两个半年度各召开一 次。每年首次定期会议原则于上一会计年度完结之后的四个月内召开。 定期会议由董事长召集。 第四条 临时会议 （一）有下列情形之一的，董事会应当召开临时会议： 1 第二条 董事会的地位 （一）公司依法设立董事会。董事会由股东会选举产生，受股东会委托， 负责经营管理公司的法人财产，是公司的经营决策中心，对股东会 负责。 （二）董事会应当在《公司法》、公司章程及本议事规则规定的范围内行 使职权，不得超越职权范围，并不得干涉董事对自身权利的处分。 第三条 定期会议 1．代表 1/10 以上表决权的股东提议时； 2．1/3 以上董事联名提议时； 3．审计委员会提议时； 山西安泰集团股份有限公司 董事会议事 ...

山西安泰集团股份有限公司 章 程 二○二五年四月二十八日 1 山西安泰集团股份有限公司 章 程 目 录 第四章 股东和股东会 第五章 董事和董事会 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第一节 第一股东的一般规定 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会的表决和决议 第一节 董事的一般规定 第二节 董事会 第三节 独立董事 第四节 董事会专门委员会 第六章 高级管理人员 第七章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第九章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十章 修改章程 第十一章 附则 3 第八章 通知与公告 第一节 通知 第二节 公告 第一章 总则 第一条 为维护山西安泰集团股份有限公司（以下称"公司"）、股东、职 工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 ...

山西安泰集团股份有限公司 董事会审计委员会工作细则 第一章 总则 第一条 为完善山西安泰集团股份有限公司（以下简称"公司"）董事会的 决策程序，加强公司董事会对管理层的有效监督，完善公司治理结构，充分保护 公司和公司股东的合法权益，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》、《山西安泰集团股份有限公司章程》（以下简称"《公司章 程》"）及其他有关规定，公司特设立董事会审计委员会（以下简称"审计委员会"）， 并制定本工作细则。 第二条 审计委员会是董事会下设的专门委员会，对董事会负责。 第三条 审计委员会行使《公司法》规定的监事会职权，主要负责审核公司 财务信息及其披露、监督及评估内外部审计工作和内部控制。 第四条 公司应当为董事会审计委员会提供必要的工作条件，配备专门人员 或者机构承担审计委员会的工作联络、会议组织、材料准备和档案管理等日常工 作。审计委员会履行职责时，公司管理层及相关部门应当给予配合。 审计委员会认为必要的，可以聘请中介机构提供专业意见，有关费用由公司 承担。 第二章 审计委员会的人员组成 第五条 审计委员会由三名董事组成，其中独立董事应过半数并担任召集 ...

山西安泰集团股份有限公司董事会 关于独立董事 2024 年度独立性情况的专项评估意见 董 事 会 二〇二五年四月二十八日 公司三位独立董事严格遵守《公司法》《上市公司独立董事管理办法》《上市 公司自律监管指引第 1 号——规范运作》等法律法规以及《公司章程》《公司独立 董事工作制度》对独立董事的任职要求，对其自身独立性情况进行了严格、全面 的自查。经核查，公司现任独立董事贾增峰、孙水泉、邓蜀平均未在公司担任除 独立董事以外的任何职务，也未在公司主要关联方担任任何职务，与公司及主要 股东、实际控制人之间不存在直接或者间接利害关系，或者其他可能影响其本人 进行独立客观判断的关系，不存在影响独立董事独立性的情况，符合相关法律法规 等对独立董事独立性的相关要求。 山西安泰集团股份有限公司 根据《公司法》《上市公司独立董事管理办法》《上市公司自律监管指引第 1 号 ——规范运作》等相关要求，山西安泰集团股份有限公司（以下简称"公司"） 董事会近日收到独立董事贾增峰、孙水泉、邓蜀平出具的《独立董事关于独立性 自查情况的报告》。董事会通过核查任职人员名单及股东名册，根据自查报告及 调查核实情况，对上述三位现任独立董事在 2 ...