本次股东大会共计审议1项议案，具体如下： 1、《关于2026年度日常关联交易预计的议案》。 来源：市场资讯 山煤国际发布公告，将于2025年12月31日召开第4次临时股东大会，网络投票同日进行。股权登记日为 12月24日，当日收市后持有山煤国际股票的投资者可以参与投票。 会议地点：太原市小店区晋阳街162号三层会议室。 ...

山煤国际能源集团股份有限公司 第八届董事会独立董事专门会议 2025 年第五次会议决议 山煤国际能源集团股份有限公司（以下简称"公司"）第八届董事会独立董 事专门会议2025年第五次会议于2025年12月15日以现场方式召开。本次会议应到 独立董事4人，实到独立董事4人。本次会议的召集、召开及表决程序符合《上市 公司独立董事管理办法》《公司章程》及公司《独立董事工作制度》《独立董事专 门会议工作细则》的规定。经与会独立董事认真审议，形成决议并发表审核意见 如下： 审议通过《关于 2026 年度日常关联交易预计的议案》 独立董事专门会议认为： 公司对 2026 年度日常关联交易的预计均为公司正常生产经营需要，交易事 项定价合理、公允，符合公司实际情况，不会对公司及公司财务状况、经营成果 产生不利影响，不存在损害公司股东特别是中小股东的利益的情形，不会影响上 市公司的独立性，不会对关联方形成依赖。 表决结果：4 票同意，0 票反对，0 票弃权。 （本页无正文，为《山煤国际能源集团股份有限公司第八届董事会独立董 事专门会议2025年第五次会议决议》的签署页) 独立董事签名 : 薛建兰 吴秋生 山煤国际能源集团股份有 ...

证券代码：600546 证券简称:山煤国际 公告编号：临 2025-050 号 山煤国际能源集团股份有限公司 关于 2026 年度日常关联交易预计的公告 日常关联交易对上市公司的影响：公司2026年度日常关联交易预计是根 据公司经营活动实际需要进行的合理预计，是公司生产经营及业务发展的客观需 要，不会对公司未来的财务状况和经营成果产生影响，不会对关联方形成较大依 赖。关联交易的定价原则遵循公平公正原则，不存在损害公司和中小股东利益的 情形，也不影响公司的独立性。 需要提请投资者注意的其他事项：无 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 1. 2025年12月15日，山煤国际能源集团股份有限公司（以下简称"公司"） 召开的第八届董事会第三十六次会议审议通过了《关于2026年度日常关联交易预 计的议案》，关联董事回避表决，其他4名非关联董事对本议案进行了表决。表决 结果：4票同意，0票反对，0票弃权。本议案已经公司独立董事专门会议审议并 全体通过。本议案尚需提交公司股东会审议，关联股东将在股东会上对本议案回 避表决。 2. 公司第八届董事会独立董事专门会议 2025 年第五次会议审议通过了《关 ...

证券代码：600546 证券简称：山煤国际 公告编号：临 2025-051 号 山煤国际能源集团股份有限公司 关于召开2025年第四次临时股东会的通知 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： 一、 召开会议的基本情况 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 12 月 31 日 (一) 股东会类型和届次 2025年第四次临时股东会 召开的日期时间：2025 年 12 月 31 日 15 点 00 分 召开地点：太原市小店区晋阳街 162 号三层会议室 (五) 网络投票的系统、起止日期和投票时间。 股东会召开日期：2025年12月31日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 至2025 年 12 月 31 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交 ...

由于本议案内容涉及关联交易，关联董事付中华先生、赵彦浩先生、赵妍瑜 女士、陈一杰先生、韩磊先生、常光玮女士回避表决，其他 4 名非关联董事对 本议案进行了表决。 证券代码：600546 证券简称:山煤国际 公告编号：临 2025-049 号 山煤国际能源集团股份有限公司 第八届董事会第三十六次会议决议公告 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。 山煤国际能源集团股份有限公司（以下简称"公司"）第八届董事会第三十 六次会议（以下简称"本次会议"）通知于2025年12月5日以送达、邮件形式向 公司全体董事发出，本次会议于2025年12月15日在太原市小店区晋阳街162号三 层会议室以现场方式召开。本次会议应到董事10人，实到董事10人。会议的召集、 召开及表决程序符合《中华人民共和国公司法》及《公司章程》的规定。本次会 议由董事、总经理付中华先生主持，公司高级管理人员列席了本次会议，经与会 董事认真审议，形成董事会决议如下： 一、审议通过《关于 2026 年度日常关联交易预计的议案》 根据《上海证券交易所股票上市规则》《上 ...

每经AI快讯，山煤国际（SH 600546，收盘价：10.55元）12月15日晚间发布公告称，公司第八届第三十 六次董事会会议于2025年12月15日在太原市小店区晋阳街162号三层会议室以现场方式召开。会议审议 了《关于2026年度日常关联交易预计的议案》等文件。 每经头条（nbdtoutiao）——"一针两千，童颜针年销3亿元"背后：多家关联方注册地"查无此人"，股民 追问"钱呢"！钱氏姐弟几乎"掏空"江苏吴中，公司即将退市 （记者 王晓波） 截至发稿，山煤国际市值为209亿元。 2024年1至12月份，山煤国际的营业收入构成为：煤炭生产占比58.41%，煤炭贸易业占比39.49%，航运 占比1.84%，其他行业占比0.26%。 ...

证券之星消息，12月15日山西国企改革板块较上一交易日上涨0.07%，山煤国际领涨。当日上证指数报 收于3867.92，下跌0.55%。深证成指报收于13112.09，下跌1.1%。山西国企改革板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 从资金流向上来看，当日山西国企改革板块主力资金净流出8554.35万元，游资资金净流入2614.41万 元，散户资金净流入5939.94万元。山西国企改革板块个股资金流向见下表： ...

Group 1 - The core viewpoint of the news is that the State-owned Enterprise Dividend Index has shown positive performance, with significant increases in specific constituent stocks, indicating a favorable environment for dividend-paying stocks [1][2]. - As of December 15, 2025, the State-owned Enterprise Dividend Index rose by 0.56%, with notable stock performances including COFCO Sugar rising by 9.99% and Shanxi Coal International by 4.00% [1]. - The State-owned Enterprise Dividend ETF (159515) also experienced an increase of 0.53%, reflecting strong investor interest in dividend-paying assets [1][2]. Group 2 - The liquidity of the State-owned Enterprise Dividend ETF has improved, with an average daily transaction volume of 2.7164 million yuan over the past month and a weekly scale growth of 2.3717 million yuan [1]. - The ETF's share count increased by 3 million shares in the past week, indicating a significant uptick in investor participation [1]. - The State-owned Enterprise Dividend Index is designed to reflect the performance of 100 listed companies with high cash dividend yields and stable dividend policies, which are selected from state-owned enterprises [2]. Group 3 - The report highlights that dividend assets are attractive in a low-interest-rate environment, appealing to risk-averse investors seeking stable returns [2]. - The manufacturing PMI showed a slight recovery to 49.2% in November, indicating improvements in both production and demand, which supports the overall economic stability [2]. - The top ten weighted stocks in the State-owned Enterprise Dividend Index account for 16.99% of the index, with companies like COSCO Shipping and Jizhong Energy among the leaders [2][4].

Investment Rating - The report maintains an investment rating of "stronger than the market" for the coal industry, indicating an expected increase in performance relative to the benchmark index [2][13]. Core Insights - The central economic work emphasizes "anti-involution," with limited month-on-month growth in coal imports in November. The Xinjiang railway has seen coal transportation exceed 90 million tons, a year-on-year increase of 6.9% [1]. - November coal imports reached 44.05 million tons, showing a month-on-month increase of 5.6% but a year-on-year decrease of 19.9%. Cumulative imports from January to November totaled 432 million tons, down 12% year-on-year [1]. - The report anticipates that supply-side growth will remain limited, while demand is expected to be relatively stable, potentially shifting from a loose supply-demand situation to a balanced or slightly tight one [1]. Summary by Sections Supply and Demand Dynamics - The report notes that coal prices have accelerated their decline due to weak demand, with Qinhuangdao coal prices at 753 RMB/ton, down 4.8% month-on-month and 5.2% year-on-year [1]. - Average daily coal consumption in power plants across 25 provinces was 5.81 million tons, down 6.8% year-on-year, while average inventory stood at 135.46 million tons, a slight decrease of 0.2% year-on-year [1]. - The report suggests that while coal prices are expected to continue declining, the extent of the decline will be limited due to seasonal demand recovery and ongoing supply-side optimization [1]. Price Trends and Market Outlook - The report indicates that the coal price is likely to experience limited declines in the short term, with a focus on economic recovery and macro policies influencing actual demand release [1]. - The report highlights that the second round of price reductions for coke has been implemented, with a decrease of 50-55 RMB/ton, while the main coking coal prices remain stable [7]. - The report emphasizes the need to monitor the production and profitability of steel mills, as well as the overall demand for coking coal, which may influence future price movements [7]. Investment Recommendations - The report recommends focusing on companies that are expected to benefit from stable dividends, such as China Coal Energy, China Shenhua, and Shaanxi Coal and Chemical Industry [8]. - It also suggests monitoring companies that may benefit from coal capacity reserve policies and intelligent safety upgrades in coal mines, as well as those involved in the Belt and Road Initiative [8].

Core Viewpoint - The coal market is expected to stabilize and recover in price due to seasonal demand increases and supply constraints as the year-end safety inspections become stricter [1][2]. Group 1: Market Overview - In October, electricity consumption exceeded expectations with a growth of 10.4%, while non-electric demand remained weak, leading to a 9.7% year-on-year decline in coal imports [1]. - Domestic coal prices saw fluctuations in November, with a rise followed by a decline, while long-term contract prices were adjusted upwards [1]. - International coal prices, particularly for Australian thermal and coking coal, continued to rise in November [2]. Group 2: Supply and Demand Dynamics - Domestic coal production decreased by 2.3% year-on-year in October, and coal imports fell by 12.0% in November [1]. - The global seaborne coal loading volume dropped by 3.6% year-on-year in the first ten months, but demand from emerging markets remained strong [1]. - Seasonal demand is expected to increase from December to January, supporting coal prices as supply remains relatively low due to stricter safety regulations [2]. Group 3: Key Companies - Companies with stable earnings and dividends include China Shenhua (601008.SH), Shaanxi Coal and Chemical Industry (601225.SH), and China Coal Energy (601898.SH) [3]. - Companies likely to benefit from improved demand expectations and supply reductions include Shanxi Coking Coal (000983.SZ) and Lu'an Environmental Energy (601699.SH) [3]. - Companies with notable long-term growth potential include Baofeng Energy (600989.SH) and China Qinfa (00866) [3].