证券代码：600508 证券简称：上海能源 编号：临 2024-037 上海大屯能源股份有限公司 关于董事长辞职的公告 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。 近日，上海大屯能源股份有限公司（以下简称"公司"）董事会收 到毛中华先生的书面辞职报告。因工作原因，毛中华先生请求辞去 公司第九届董事会董事、董事长、战略委员会主任委员、提名委员 会委员职务。根据《上海大屯能源股份有限公司章程》（以下简称"《公 司章程》"）及《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》的有关规定，毛中华先生的辞职报告自送达董事会之日 起生效。辞职后，毛中华先生不再担任公司及控股子公司任何职务。 公司将依照有关规定尽快完成新任董事长选举工作。根据《公 司章程》规定，新任董事长选举产生之前，由副董事长张付涛先生 履行公司董事长职务。 毛中华先生在任内为公司生产经营、改革创新和转型发展等付 出了极大精力和心血，积极推动公司高质量发展，董事会向为公司 做出重要贡献的毛中华先生表示衷心的感谢！ 特此公告。 上海大屯能源股份有限公司董事会 ...

Investment Rating - The report assigns a "Buy" rating for Shanghai Energy (600508.SH) as part of its initial coverage [4]. Core Views - Shanghai Energy is positioned as one of the five major listed coal central enterprises, with a focus on coal mining and an integrated coal-electricity-aluminum-transportation business model. The company has shown a steady increase in dividend payout ratios and is expected to benefit from valuation recovery and dividend potential [4][5]. Summary by Sections Investment Rating - The current stock price is 14.07 CNY, with a market capitalization of 101.69 billion CNY. The report highlights a significant turnover rate of 52.02% over the past three months [4]. Financial Performance - The report forecasts Shanghai Energy's net profit attributable to shareholders for 2024-2026 to be 8.1 billion CNY, 9.7 billion CNY, and 12 billion CNY respectively, with year-on-year changes of -16.3%, +19.6%, and +23.2%. The corresponding EPS is projected to be 1.12 CNY, 1.34 CNY, and 1.65 CNY, leading to PE ratios of 12.5, 10.5, and 8.5 times [5][6]. Dividend Policy - The company has increased its cash dividend payout ratio to 30.65% in 2024, with expectations that the actual dividend ratio could rise to 46.8% if the end-of-year dividend matches the previous year's [5][22]. Coal Business - Shanghai Energy operates four active mines with a total capacity of 9.09 million tons per year and is constructing a new mine expected to add 2.4 million tons by the end of 2025. The company maintains a coal washing rate above 80%, with a selling price of 1,167.1 CNY per ton, which is higher than comparable companies [5][6][20]. Integrated Operations - The company has a comprehensive energy supply chain, including power generation with a total installed capacity of 1,083 MW, which is expected to increase to 1,288 MW with ongoing projects. The report notes a steady improvement in profitability from the power segment due to decreasing fuel costs [5][6][20]. Valuation Analysis - Shanghai Energy's PB ratio is currently at 0.79, significantly lower than the coal sector average of 1.39, indicating a potential for valuation recovery. The report suggests that the company may implement market value management strategies to enhance its valuation [5][6][20].

Financial Performance - Operating revenue for Q3 2024 was CNY 2,379,234,194.94, a decrease of 9.58% year-on-year [4]. - Net profit attributable to shareholders was CNY 154,058,033.45, an increase of 3.43% compared to the same period last year, but a decrease of 52.90% year-to-date [4]. - Basic earnings per share for the year-to-date period was CNY 0.87, down 52.72% year-on-year [4]. - Total operating revenue for the first three quarters of 2024 was CNY 7,233,532,303.02, a decrease of 15.0% compared to CNY 8,497,967,289.82 in the same period of 2023 [14]. - Net profit for the first three quarters of 2024 was CNY 575,788,122.33, a decline of 57.5% from CNY 1,357,079,119.82 in 2023 [15]. - Total profit for the first three quarters of 2024 was CNY 821,102,213.60, down 55.7% from CNY 1,851,591,296.95 in 2023 [15]. - Total comprehensive income for the first three quarters of 2024 was CNY 574,195,470.01, down from CNY 1,355,204,935.05 in 2023 [15]. Revenue and Costs - The average selling price of premium coal decreased by CNY 185.24 per ton, a decline of 12.27% year-on-year, impacting overall performance [6]. - Total operating costs decreased to CNY 6,433,047,778.13, down 3.4% from CNY 6,657,042,830.36 year-over-year [14]. - Research and development expenses increased to CNY 50,015,902.88, up 58.2% from CNY 31,615,006.90 in 2023 [14]. - Tax expenses for the first three quarters of 2024 were CNY 245,314,091.27, a decrease of 50.5% compared to CNY 494,512,177.13 in 2023 [15]. - Other income increased significantly to CNY 22,537,713.73 from CNY 4,638,325.22 year-over-year [14]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 20,099,610,765.59, an increase of 0.81% compared to the end of the previous year [4]. - As of September 30, 2024, the company's total assets amounted to approximately 20.1 billion, an increase from 19.9 billion at the end of 2023 [12]. - The company's total liabilities decreased slightly to approximately 7.26 billion from 7.33 billion, a reduction of about 0.9% [13]. - The company’s non-current assets totaled approximately 15.49 billion, slightly down from 15.51 billion, indicating a decrease of about 0.1% [12]. - Accounts receivable increased to approximately 411.11 million, up from 288.52 million, reflecting a growth of about 42.5% [11]. - Inventory rose to approximately 474.09 million, compared to 289.68 million, indicating an increase of about 63.5% [11]. Cash Flow and Financing - The company reported a net cash flow from operating activities of CNY 829,716,964.98 year-to-date, a decrease of 8.08% year-on-year [4]. - Cash flow from operating activities generated CNY 829,716,964.98, a decrease from CNY 902,611,756.52 in the previous year [17]. - Net cash flow from investing activities was -694,608,678.60, compared to -597,090,563.06 in the previous period, indicating an increase in investment outflows [18]. - Cash inflow from financing activities totaled 139,000,000.00, down from 217,000,000.00 in the previous period, reflecting a decrease in borrowed funds [18]. - Total cash outflow from financing activities was 769,008,703.73, compared to 653,187,493.00 in the previous period, showing an increase in cash outflows [18]. - The net cash flow from financing activities was -630,008,703.73, worsening from -436,187,493.00 in the previous period [18]. - The ending cash and cash equivalents balance decreased to 2,281,978,952.49 from 2,702,739,253.97, indicating a decline in liquidity [18]. - The net increase in cash and cash equivalents was -494,900,417.35, compared to -130,666,299.54 in the previous period, highlighting a significant cash outflow [18]. - Cash paid for the repayment of debts was 206,131,100.00, significantly higher than 5,622,022.13 in the previous period, indicating increased debt servicing [18]. - Cash paid for dividends, profits, or interest was 473,223,253.61, down from 555,674,108.72, suggesting a reduction in shareholder returns [18]. - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was 694,608,678.60, compared to 598,196,822.48 in the previous period, reflecting increased capital expenditures [18]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 39,080 [7]. - The largest shareholder, China Coal Energy Co., Ltd., held 62.43% of the shares [7].

证券代码：600508 证券简称：上海能源 编号：临 2024-034 上海大屯能源股份有限公司 2024 年第三季度经营数据公告 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。 根据上海证券交易所《上市公司自律监管指引第 3 号—— 行业信息披露》要求，现将公司 2024 年第三季度经营数据公告 如下： | 项目 | 年 2024 | 年 2023 | 变动比例 | | --- | --- | --- | --- | | | 1-9 月 | 1-9 月 | （%） | | 一、原煤产量（万吨） | 662.69 | 624.82 | 6.06 | | 二、洗精煤产量（万吨） | 361.40 | 321.83 | 12.30 | | 三、商品煤产量（万吨） | 470.00 | 488.66 | -3.82 | | 四、商品煤销量（万吨） | 456.29 | 490.67 | -7.01 | | 其中：1、外销量（万吨） | 406.33 | 457.31 | -11.15 | | 2、自用量（万吨） | 49.96 | ...

表决结果：同意 7 票，反对 0 票，弃权 0 票。 证券代码：600508 证券简称：上海能源 编号：临 2024-035 上海大屯能源股份有限公司 第九届董事会第二次会议决议公告 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。 公司第九届董事会第二次会议于 2024 年 10 月 22 日以通 讯表决方式召开。应参加表决董事 7 人，实际参加表决董事 7 人，符合《公司法》和《公司章程》的有关规定。 会议审议并通过以下决议： 一、审议通过关于聘任公司副总经理、安监局局长的议案 同意聘任李跃文先生为公司副总经理； 三、审议通过关于公司基于超额利润的薪酬激励方案的议案 同意公司基于超额利润的薪酬激励方案。 同意聘任吴宇先生为公司安监局局长。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 详见公司[临 2024-036]《上海大屯能源股份有限公司关于变 更安监局局长、聘任副总经理的公告》。 本议案已经公司第九届董事会提名委员会 2024 年第二次会 议审议通过，并形成提交公司董事会审议的审核意见。 二、审议通过关于公司 ...

特此公告。 附件： 1．李跃文先生简历 2．吴宇先生简历 上海大屯能源股份有限公司董事会 证券代码：600508 证券简称：上海能源 编号：临 2024-036 上海大屯能源股份有限公司 关于变更安监局局长、聘任副总经理的公告 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。 近日，上海大屯能源股份有限公司（以下简称"公司"）董 事会收到公司安监局局长李跃文先生的书面辞职报告。因工作原 因，李跃文先生请求辞去公司安监局局长职务。根据《上海证券 交易所上市公司自律监管指引第 1 号——规范运作》的有关规 定，李跃文先生的辞职报告自送达董事会之日起生效。 根据公司的实际需要，公司第九届董事会第二次会议于 2024 年 10 月 22 日召开，审议通过《关于聘任公司副总经理、安监局 局长的议案》，同意聘任李跃文先生为公司副总经理，聘任吴宇 先生为公司安监局局长。 附件 1 李跃文先生简历 李跃文，男，1975 年 8 月出生，中共党员，工程硕士，教 授级高级工程师。曾任上海大屯能源股份有限公司姚桥煤矿掘进 十队技术员、姚桥煤矿掘进八队 ...

会议召开时间：2024 年 10 月 24 日（星期四）下午 15:00-16:00 证券代码：600508 证券简称：上海能源 公告编号：2024-033 上海大屯能源股份有限公司 关于召开 2024 年第三季度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： 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/）（以下简称"上证路演中心"） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 10 月 17 日（星期四）至 10 月 23 日（星期 三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 sh600508@263.net 进行提问。公司将在说明会上对投 资者普遍关注的问题进行回答。 上海大屯能源股份有限公司（以下简称"公司"）将于 2024 年 10 月 24 日发布公司 2024 年第三季度报告，为便于广大投资者更全 面深入地了解公司 2024 年第三季度经营成果、财务状况，公司 ...

| 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 | 2024/9/23 | － | 2024/9/24 | 2024/9/24 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 证券代码：600508 证券简称：上海能源 公告编号：2024-032 上海大屯能源股份有限公司 2024 年半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 0.2 元 相关日期 上海大屯能源股份有限公司（以下简称"公司"）董事会于 2024 年 6 月 28 日的 2023 年 年度股东大会获批准授权制定并实施 2024 年度中期分红方案。本次利润分配方案已经公司于 2024 年 8 月 22 日召开的第九届董事会第一次会议审议通过。 二、 分配方案 1. 发放年度：2024 年半年度 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 ...

Financial Performance - In the first half of 2024, the company achieved a net profit of CNY 218,826,320.58, with a total distributable profit of CNY 7,205,485,410.07 as of June 30, 2024[4]. - The company's operating revenue for the first half of 2024 was CNY 4,854,298,108.08, representing a decrease of 17.26% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 60.02% to CNY 471,620,770.90 compared to CNY 1,179,521,595.20 in the previous year[18]. - Basic earnings per share decreased by 60.12% to CNY 0.65 compared to CNY 1.63 in the same period last year[19]. - The weighted average return on equity dropped by 5.72 percentage points to 3.70% from 9.42% year-on-year[19]. - The company reported a total comprehensive income of CNY 431,918,771.09, down from CNY 1,218,098,548.84 in the same period last year[73]. - The company reported a significant increase in other receivables, which rose to ¥10,311,573.62 from ¥9,551,887.22, marking an increase of about 7.95%[67]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 195.11% to CNY 465,112,514.51 compared to CNY 157,604,727.90 in the previous year[18]. - The company's cash and cash equivalents at the end of the period were approximately CNY 3.10 billion, accounting for 15.51% of total assets[28]. - The ending balance of cash and cash equivalents was CNY 2,703,326,972.62, compared to CNY 2,651,886,278.72 at the end of the first half of 2023[75]. - The company reported a total cash balance of RMB 3,100,281,875.33 as of June 30, 2024, compared to RMB 3,161,640,699.56 at the beginning of the period, indicating a decrease of approximately 1.93%[160]. Investments and Projects - The company is expanding into renewable energy, with a completed 263MW photovoltaic project and a 205MW project set to commence construction[24]. - The company has initiated a grid transformation project with a total investment of CNY 49.032 million to enhance the digitalization of its distribution network[31]. - The total investment for the Wezigou coal mine project has been adjusted to CNY 398.46874 million due to regional policy changes and safety management upgrades[31]. - The company is investing in a photovoltaic power generation project with a capacity of 263.5 MW, which is expected to contribute to its transition towards renewable energy[31]. Shareholder Information - The company plans to distribute a cash dividend of CNY 2 per 10 shares, totaling CNY 144,543,600.00[4]. - The company held its first extraordinary shareholders' meeting on January 30, 2024, approving seven resolutions, including amendments to board meeting rules and the election of new board members[37]. - The annual shareholders' meeting on June 28, 2024, approved ten resolutions, including the 2023 annual report and the 2024 financial budget[37]. - The total number of ordinary shareholders as of the end of the reporting period is 37,691[63]. Environmental Compliance and Initiatives - The company has been listed as a key pollutant discharge unit by the government, with total emissions of SO2 at 64.07 tons, NOx at 83.96 tons, and particulate matter at 11.64 tons in the first half of 2024[41]. - The company has implemented emergency response plans for environmental incidents, with key plans completed and filed by various subsidiaries[46]. - The company is actively pursuing carbon capture and storage (CCUS) projects, currently in the preliminary research phase, to align with national carbon neutrality goals[51]. - The company has established an environmental self-monitoring program, with monitoring frequencies for pollutants such as sulfur dioxide and nitrogen oxides set at 24-hour continuous sampling[47]. Legal Matters - The company is involved in a significant lawsuit with Shanghai Datun Energy Co., claiming a contract dispute with an amount of CNY 103.73 million[53]. - Another ongoing litigation involves Xinjiang Hongxin Construction Group, with a claimed amount of CNY 218.57 million related to a contract dispute[54]. - The first instance ruling in the Shanghai Datun case ordered the return of CNY 53.14 million to the company, but the execution remains uncertain[53]. - The Xinjiang Hongxin case has seen a first instance ruling requiring payment of CNY 182.72 million plus interest, but the case is currently under appeal[54]. Related Party Transactions - The company reported a total of 93,917.57 million RMB in related party transactions, accounting for 100% of similar transaction amounts[57]. - The company purchased goods and received services from China Coal Energy Group and its subsidiaries amounting to 19,786.83 million RMB, representing 21.08% of total related transactions[57]. - The company’s related party transactions with Datun Coal and Electricity Group amounted to 25,990.55 million RMB for purchasing goods and services, which is 27.67% of similar transaction amounts[56]. - The company’s financial activities with related parties are conducted based on fair market pricing principles[56]. Risk Management - The company faces risks related to business transformation and reform, including limited coal production capacity and challenges in acquiring quality coal resources[34]. - Investment risks arise from not adequately considering policy changes and market dynamics, potentially leading to underperformance against expected returns[35]. - The company plans to stabilize coal production capacity and enhance resource acquisition efforts to address resource shortages and production continuity issues[34]. - The company will implement strict investment management procedures and engage qualified intermediaries for major projects to ensure feasibility and avoid cost overruns[35].

A 股代码：600508 证券简称：上海能源 编号：临 2024-027 | 项目 | 年 2024 | 年 2023 | 变动比例 | | --- | --- | --- | --- | | | 半年度 | 半年度 | （%） | | 一、原煤产量（万吨） | 430.32 | 423.46 | 1.62 | | 二、洗精煤产量（万吨） | 228.56 | 213.49 | 7.06 | | 三、商品煤产量（万吨） | 287.58 | 339.30 | -15.24 | | 四、商品煤销量（万吨） | 289.19 | 328.66 | -12.01 | | 其中：1、外销量（万吨） | 259.83 | 305.54 | -14.96 | | 2、自用量（万吨） | 29.36 | 23.12 | 26.99 | | 五、商品煤销售收入（万元） | 323,950.94 | 391,145.30 | -17.18 | | 六、商品煤销售成本（万元） | 214,050.65 | 183,218.88 | 16.83 | | 七、商品煤销售毛利（万元） | 109,900.29 | 207,926.42 ...