证券代码：600575 证券简称：淮河能源 公告编号：临 2025-031 淮河能源（集团）股份有限公司 (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，董事长周涛先生主持。会议采用现场投票 和网络投票相结合的方式进行表决，会议的召集、召开和表决方式符合《公司法》 及《公司章程》的有关规定。 2025年第一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 5 月 13 日 (二)股东大会召开的地点：安徽省淮南市大通区大通街道居仁村 E 组团商业及服 务楼公司二楼会议室 (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 | 1,696 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 204,039,416 | | 3、出席会议的股东所持有表决权股份数占 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于淮河能源（集团）股份有限公司 2025 年第一次临时股东大会的 法律意见书 国枫律股字[2025]A0165 号 致：淮河能源（集团）股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2025 年第一次临时股东大会（以下简称"本次会议"）。 本所律师根据《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》"）、《上市公司股东会规则》、《律师事务 所从事证券法律业务管理办法》（以下简称"《证券法律业务管理办法》"）、《律师事务所 证券法律业务执业规则（试行）》（以下简称"《证券法律业务执业规则》"）等相关法律、 行政法规、规章、规范性文件及《淮河能源（集团）股份有限公司章程》（以下简称"《公 司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出席会议人员资格、 会议表决程序及表决结果等事宜，出具本法律意见书。 对本 ...

Summary of Key Points from Conference Call Records Industry or Company Involved - **Tungsten Industry**: Focus on strategic minerals and the impact of export controls on tungsten - **Huaihe Energy**: Involvement in coal, electricity, and logistics sectors - **5G-A Technology**: Development and deployment of advanced 5G technology Core Points and Arguments Tungsten Industry 1. **Export Control Measures**: The government has initiated actions to combat the smuggling of strategic minerals, including tungsten, which is essential in various industries such as automotive and aerospace [3][1] 2. **Tungsten Characteristics**: Tungsten is recognized for its high melting point, hardness, density, and thermal conductivity, earning it the nickname "industrial teeth" [3][1] 3. **Global Tungsten Supply**: By 2024, global tungsten reserves are projected to reach 4.6 million metric tons, with China contributing over 80% of the world's tungsten production [7][1] 4. **Demand and Applications**: The demand for tungsten is expected to reach 142,000 metric tons in 2024, primarily for hard alloys and tungsten steel, with significant applications in automotive and defense sectors [7][1] 5. **Recycling and Supply Challenges**: China's tungsten recycling rate is only 17%, indicating a gap in recovery and quality compared to international standards, which may affect future supply [7][1] Huaihe Energy 1. **Asset Injection Impact**: The company plans to acquire a significant stake in Huaihe Energy Power Group, which is expected to enhance its operational capacity and increase net profit by 105% [8][1] 2. **Coal Supply and Production**: Huaihe Energy has a strong coal supply chain, with a high coverage rate for long-term contracts, which positions it competitively in the market [11][1] 3. **Future Growth Potential**: The company has additional coal and power assets that could further increase its operational scale, with potential for significant growth in the coming years [11][1] 5G-A Technology 1. **Performance Enhancements**: 5G-A technology is expected to increase upload and download speeds by tenfold, significantly improving connectivity and reducing latency [12][1] 2. **Global Deployment**: Testing networks for 5G-A have been established across 31 provinces in China, with plans for expansion into international markets [12][1] 3. **Investment in Infrastructure**: There is a notable increase in capital expenditure from operators for 5G-A, indicating a strong commitment to enhancing network capabilities [15][1] Other Important but Possibly Overlooked Content - **Market Trends**: The tungsten sector is experiencing a bullish trend due to government actions against smuggling and the strategic importance of tungsten in various applications [4][1] - **Stock Performance**: Several companies within the tungsten industry and those involved in 5G technology have seen significant stock price increases, reflecting positive market sentiment [9][1][13][1] - **Long-term Outlook**: The overall outlook for both the tungsten industry and 5G-A technology remains positive, with expectations of sustained demand and growth opportunities in the coming years [7][1][15][1]

Core Viewpoint - Huaihe Energy is advancing a significant asset restructuring with its controlling shareholder, Huainan Mining, which has garnered approval from the Anhui Provincial State-owned Assets Supervision and Administration Commission [2][3] Group 1: Asset Restructuring Details - Huaihe Energy announced on May 8 that it will spend 11.694 billion yuan to acquire 89.3% of the shares of the Power Group, with the total expenditure potentially reaching 12.888 billion yuan, exceeding the company's current net assets [2][3] - The restructuring aims to resolve competition issues between Huaihe Energy and Huainan Mining, as the latter has committed to avoiding competition with the listed company [2][3] - The transaction will be financed through a combination of share issuance and cash payments, with Huaihe Energy having already acquired 10.7% of the shares for 1.194 billion yuan by April 2025 [3] Group 2: Financial Impact and Market Reaction - Following the announcement, Huaihe Energy's stock price surged to 3.84 yuan per share, with a total trading volume of 707 million yuan on May 9 [3] - The Power Group, which is the electricity business platform of Huainan Mining, has significant assets including large thermal power generation units and a coal mine with an annual production capacity of 4 million tons [4] - The expected increase in Huaihe Energy's power generation capacity from approximately 3.51 million kilowatts to 6.67 million kilowatts will enhance its market share from 28% to 35%, positioning it as the second-largest coal power operator in Anhui Province [6] Group 3: Operational and Market Context - The Power Group's electricity generation for January to November 2024 was 14.702 billion kilowatt-hours, with a grid-connected electricity volume of 14.008 billion kilowatt-hours, primarily serving State Grid Corporation and Huaihe Holdings [4] - Huaihe Energy's revenue for 2024 is projected at 30.021 billion yuan, with a net profit of 858 million yuan, indicating a potential improvement in financial performance post-restructuring [5] - The current market environment shows a decline in coal prices, which could enhance the profitability of electricity companies, as the cost of coal is directly related to their operational expenses [6]

Group 1 - The supercritical power generation concept index rose by 0.16%, ranking 8th among concept sectors, with 33 stocks increasing in value [1] - Leading stocks in the sector included Huaihe Energy, Jinkong Power, and others, with Huaihe Energy achieving a maximum increase of 10.03% [1][3] - The sector experienced a net outflow of 257 million yuan, with 31 stocks seeing net inflows, and Huaihe Energy leading with a net inflow of 144 million yuan [2][3] Group 2 - The top net inflow ratios were recorded by Jinkong Power at 31.89%, Huaihe Energy at 20.37%, and Tianfu Energy at 18.58% [3] - Stocks with significant increases included Huadian Liaoning with a rise of 9.62% and Qingda Environmental with a rise of 5.83% [5] - Stocks with notable declines included Zhongzhou Special Materials and ST Huaxi, which fell by 5.11% and 5.08% respectively [1][5]

Market Overview - On May 9, A-shares experienced a correction with over 4,100 stocks declining, resulting in the Shanghai Composite Index falling by 0.26% to 3,343.38 points, the Shenzhen Component Index down by 0.84%, and the ChiNext Index down by 1% [1][2] - The total trading volume in A-shares for the half-day session reached 806.287 billion yuan [1] Economic Data - In the first four months, China's total goods trade value reached 14.14 trillion yuan, a year-on-year increase of 2.4%, with exports at 8.39 trillion yuan (up 7.5%) and imports at 5.75 trillion yuan (down 4.2%) [3] - In April alone, the total goods trade value was 3.84 trillion yuan, growing by 5.6%, with exports at 2.27 trillion yuan (up 9.3%) and imports at 1.57 trillion yuan (up 0.8%) [3] Central Enterprises Strategy - The State-owned Assets Supervision and Administration Commission emphasized the need for central enterprises to focus on national strategic services, technological advancements, and the development of AI capabilities across various industries [3] Sector Performance - The textile and apparel sector showed strength, with Huafang Co. achieving a four-day consecutive rise, while power stocks also performed well, with notable gains from Jin控电力, 淮河能源, and 华电辽能 [3][4] - The supercritical power generation sector is seen as crucial for China's low-carbon transition, aligning with the country's dual carbon goals [4] Company Insights 1. **淮河能源**: The company has a strong coal-electricity integration operation, with expectations for improved profitability due to the normal operation of the 潘集电厂 and the closure of loss-making plants [8] 2. **隆华科技**: The company is pursuing a dual strategy in energy-saving and new materials, with a focus on expanding its target material business into the photovoltaic sector [8] 3. **华银电力**: The company anticipates continued recovery in its thermal power segment as domestic coal supply and demand balance out, with ongoing projects expected to enhance profitability [8] 4. **通裕重工**: The company is expanding its capacity in large forging presses, which is expected to improve product quality and cost efficiency, leading to potential performance growth [8]

Core Points - The Shanghai Composite Index is at 3343.28 points, slightly down by 0.26%, with a total trading volume of 590.62 billion yuan [1] - 24 A-shares have surpassed their annual moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - Huaihe Energy (600575) has the highest deviation rate at 9.45%, with a daily increase of 10.03% and a turnover rate of 4.61% [2] - *ST Changyao (300391) follows with a deviation rate of 3.71%, increasing by 4.37% today [2] - Shuiyang Co., Ltd. (300740) shows a deviation rate of 3.58% with an 8.70% increase [2] Other Notable Stocks - *ST Chuangxing (600193) has a deviation rate of 3.47% and a daily increase of 4.94% [2] - Yahua Electronics (301337) has a deviation rate of 3.40% with a 5.06% increase [2] - Shaanxi Huada (301517) shows a 4.25% increase and a deviation rate of 3.38% [2] Market Overview - The overall A-share market is experiencing fluctuations, with a total trading volume of 590.62 billion yuan, indicating active trading [1]

Market Overview - The Shanghai Composite Index fell by 0.26% to 3343.38, while the Shenzhen Component Index decreased by 0.84% to 10112.17, and the ChiNext Index dropped by 0.99% to 2009.26 [1][2] - Over 4100 stocks in the market experienced declines, indicating a broad market downturn [1][4] Sector Performance - The textile manufacturing, banking, and electric power sectors showed positive performance, with notable gains in specific stocks [1][5] - Conversely, the semiconductor, film and television, and humanoid robot sectors faced significant declines, with the semiconductor sector particularly affected [1][4][10] Notable Stock Movements - Jin控电力 saw a surge, closing at a 9.93% increase, while 淮河能源 experienced a remarkable rise of 1003% [6] - The banking sector was active, with 建设银行 reaching a historical high and several other banks like 青岛银行 and 重庆银行 rising over 1% [9] Technology Sector - The Hang Seng Technology Index saw a decline of 2%, with 华虹半导体 dropping nearly 12% and 中芯国际 falling over 6% [3][10] - The technology sector's struggles were reflected in the broader market, with significant losses reported across various tech stocks [3][10] Currency and Monetary Policy - The People's Bank of China conducted a 770 billion yuan reverse repurchase operation at a rate of 1.40%, maintaining previous levels [13] - The Chinese yuan depreciated against the US dollar by 22 basis points, with the central parity rate reported at 7.2095 [14]

Core Viewpoint - The market experienced a volatile adjustment in the morning session, with the ChiNext index leading the decline, while bank stocks, particularly China Construction Bank and Jiangsu Bank, reached historical highs [1] Market Performance - The total trading volume in the Shanghai and Shenzhen markets was 788 billion, a decrease of 21.6 billion compared to the previous trading day [1] - Over 4,100 stocks in the market declined, indicating a broad-based downturn [1] Sector Performance - Bank stocks showed resilience, with notable gains in China Construction Bank and Jiangsu Bank, both hitting historical highs [1] - Textile concept stocks surged collectively, with Wanlili reaching the daily limit [1] - Power sector stocks also rose, with Huaihe Energy hitting the daily limit [1] - In contrast, semiconductor stocks faced corrections, with Huahong Semiconductor dropping over 10% [1] Index Performance - By the end of the session, the Shanghai Composite Index fell by 0.26%, the Shenzhen Component Index decreased by 0.84%, and the ChiNext Index dropped by 0.99% [1]

A股电力板块异动拉升，晋控电力封板涨停，淮河能源此前涨停，华电辽能、九洲集团、大唐发电、豫 能控股等跟涨。 ...