股票代码：600575 股票简称：淮河能源 上市地点：上海证券交易所 淮河能源（集团）股份有限公司 发行股份及支付现金购买资产 暨关联交易报告书摘要 | 交易类型 | 交易对方 | | --- | --- | | 发行股份及支付现金购买资产 | 淮南矿业 | 独立财务顾问 二〇二五年十一月 淮河能源（集团）股份有限公司发行股份及支付现金购买资产暨关联交易报告书摘要 上市公司声明 本公司及全体董事、监事、高级管理人员保证重组报告书及本摘要内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、 准确性和完整性承担相应的法律责任。 本公司控股股东及全体董事、监事、高级管理人员承诺：如本次交易所披 露或提供的信息涉嫌虚假记载、误导性陈述或者重大遗漏，被司法机关立案侦 查或者被中国证监会立案调查的，在形成调查结论以前，不转让在上市公司拥 有权益的股份，并于收到立案稽查通知的两个交易日内将暂停转让的书面申请 和股票账户提交上市公司董事会，由董事会代其向证券交易所和证券登记结算 机构申请锁定；未在两个交易日内提交锁定申请的，授权董事会核实后直接向 证券交易所和证券登记结算机构报送本人或本单位的身份信 ...

Core Points - The company Huaihe Energy (600575) reported a closing price of 3.69 yuan on November 20, 2025, down 1.34% from the previous trading day, with a total market capitalization of 14.34 billion yuan [1] - The company held a performance briefing on November 20, 2025, to discuss its operational results, financial status, and significant matters with investors [1] - Huaihe Energy plans to issue shares and pay cash to acquire 89.30% of the equity held by Huainan Mining Group in the power group, with the registration submitted to the CSRC on November 6, 2025, pending approval [1] - The company addressed questions regarding asset acquisition progress, performance stability, R&D innovation, related transactions, power generation, and electricity pricing during the briefing [1] - The net profit attributable to the parent company for the power group in Q3 2025 was approximately 349 million yuan (unaudited) [1] - The company will adhere to the strategy of "enhancing existing capacity and transforming new capacity" to promote the coordinated development of coal power and clean energy [1]

关于 2025 年第三季度业绩说明会召开情况的公告 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。 证券代码：600575 证券简称：淮河能源 公告编号：临 2025-056 淮河能源（集团）股份有限公司 公司就投资者在本次说明会提出的普遍关心的问题给予了回答，主要问题及 答复整理如下： 问题 1：本次非公开增发不超过 32.81 亿股，拟募集资金 99.40 亿元。进展 如何，都有那些企业参加？ 回答：投资者您好，公司本次重组拟通过发行股份及支付现金的方式购买控 股股东淮南矿业集团持有的电力集团 89.30%股权，不涉及募集配套资金。公司 本次重组已于 2025 年 11 月 6 日提交证监会注册，截至目前，公司尚未收到证监 会相关注册批复文件。请您继续关注公司后续相关公告。 问题 2：资产并购能否在 2025 年完成并表？ 回答：投资者您好，公司本次重组已于 2025 年 11 月 6 日提交证监会注册， 截至目前，公司尚未收到证监会相关注册批复文件。请您继续关注公司后续相关 公告。 淮河能源（集团）股份有限公司（以下简称 ...

Market Overview - The Shanghai Composite Index fell by 0.46% on November 17, with 17 industries experiencing gains, led by the computer and defense industries, which rose by 1.67% and 1.59% respectively [1] - The coal industry ranked third in terms of gains, increasing by 1.32% [2] - The pharmaceutical and banking sectors saw the largest declines, with drops of 1.73% and 1.31% respectively [1] Capital Flow Analysis - The net outflow of capital from the two markets was 31.953 billion yuan, with six industries seeing net inflows [1] - The computer industry had the highest net inflow of capital, totaling 7.211 billion yuan, while the defense industry followed with a net inflow of 2.892 billion yuan [1] - The pharmaceutical industry experienced the largest net outflow, with 8.789 billion yuan, followed by the power equipment sector with a net outflow of 7.644 billion yuan [1] Coal Industry Performance - The coal industry had 37 stocks, with 31 rising and 3 hitting the daily limit, while 4 stocks declined [2] - Among the stocks with net inflows, Meijin Energy led with a net inflow of 484 million yuan, followed by Electric Power Investment Energy and Shanxi Coking Coal with net inflows of 92.541 million yuan and 43.958 million yuan respectively [2] - The stocks with the largest net outflows included Yongtai Energy, Antai Group, and Huaihe Energy, with outflows of 679.415 million yuan, 424.092 million yuan, and 26.691 million yuan respectively [2] Individual Stock Performance in Coal Industry - Notable performers in the coal industry included: - Meijin Energy: +9.96% with a capital flow of 4842.321 million yuan [3] - Electric Power Investment Energy: -1.78% with a capital flow of 92.541 million yuan [3] - Shanxi Coking Coal: +0.97% with a capital flow of 43.958 million yuan [3] - Other significant stocks included: - Yancoal Energy: +6.53% with a capital flow of 1911.10 million yuan [3] - Shaanxi Coal and Chemical Industry: +1.74% with a capital flow of 491.67 million yuan [3]

证券日报网讯淮河能源（600575）11月14日在互动平台回答投资者提问时表示，公司股票不存在大幅下 跌的情形；另外，公司董事会将按照法定程序尽快完成总经理、董秘聘任等后续工作，请投资者继续关 注公司后续相关公告。 ...

Core Viewpoint - The event organized by the Anhui Huainan Science and Technology Association aims to enhance scientific literacy among youth through hands-on experiences in vocational education, particularly in mining technology and safety practices [1][5]. Group 1: Event Overview - The 2025 Huainan City Science Popularization Education Demonstration Activity was held at Huainan Vocational Technical College, attracting over 240 students from local primary and secondary schools [1]. - The event provided a platform that integrates knowledge, fun, and practical experience, showcasing the resources of the Huaihe Energy Craftsman College [1][5]. Group 2: Educational Activities - Students participated in immersive experiences, visiting significant mining sites and educational facilities to learn about mining culture and advanced technologies [1][3]. - In the mining machinery training area, students observed the operation of simulated equipment and learned about mining technology advancements and equipment principles from professional instructors [3]. - The safety training area allowed students to operate simulated safety systems, reinforcing safety awareness and emergency response skills through hands-on practice [3]. Group 3: Educational Approach - The college's team designed an innovative three-part science popularization model combining physical displays, interactive Q&A, and hands-on practice, making complex vocational education content accessible and engaging for youth [3][5]. - This approach aims to broaden students' perspectives and enhance their understanding of science and technology in the vocational world [3]. Group 4: Future Plans - The Huaihe Energy Craftsman College plans to deepen the integration of science popularization and vocational education, continuously enriching content and optimizing activity formats to boost youth scientific literacy and promote craftsmanship spirit [7].

截至11月10日，淮河能源股东户数6.42万，较上期减少5.62%；人均流通股60560股，较上期增加 5.96%。2025年1月-9月，淮河能源实现营业收入213.03亿元，同比减少9.71%；归母净利润7.52亿元，同 比减少10.69%。 分红方面，淮河能源A股上市后累计派现10.99亿元。近三年，累计派现4.66亿元。 今年以来淮河能源已经2次登上龙虎榜，最近一次登上龙虎榜为5月9日，当日龙虎榜净买入6708.57万 元；买入总计1.30亿元 ，占总成交额比18.47%；卖出总计6341.32万元 ，占总成交额比8.97%。 资料显示，淮河能源(集团)股份有限公司位于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，成立日期2000年11月29日，上市日期2003年3月28日，公司主营业务涉及铁路运输业务、煤炭贸易 业务、火力发电业务以及售电业务。主营业务收入构成为：物流贸易68.73%，电力22.26%，煤炭销售 5.75%，铁路运输2.61%，其他0.65%。 淮河能源所属申万行业为：煤炭-煤炭开采-动力煤。所属概念板块包括：天然气、低价、一带一路、自 由贸易港、国资改革等。 11月14日，淮 ...

Core Viewpoint - Huaihe Energy reported a decrease in the number of shareholders and a slight increase in stock price, indicating a potential consolidation of shares despite a decline in revenue and profit for the third quarter [2] Shareholder and Stock Performance - As of November 10, the number of shareholders for Huaihe Energy was 64,172, a decrease of 3,823 from the previous period (October 31), representing a decline of 5.62% [2] - The latest stock price for Huaihe Energy is 3.76 yuan, up by 0.27%, with a cumulative increase of 0.80% since the concentration of shares began [2] - The stock experienced 5 days of increases and 4 days of decreases during this period [2] Financing and Margin Data - The latest margin trading balance as of November 12 is 424 million yuan, with the financing balance also at 424 million yuan [2] - The financing balance increased by 16.19 million yuan during the current concentration period, reflecting a growth of 3.98% [2] Financial Performance - For the first three quarters, Huaihe Energy achieved operating revenue of 21.303 billion yuan, a year-on-year decrease of 9.71% [2] - The net profit for the same period was 752 million yuan, down 10.69% year-on-year, with basic earnings per share at 0.1900 yuan and a weighted average return on equity of 6.33% [2] Institutional Ratings - In the past month, Huaihe Energy received buy ratings from two institutions [2] - The highest target price forecast is 5.11 yuan, as reported by Huatai Securities on November 5 [2]

重要内容提示： 证券代码：600575 证券简称：淮河能源 公告编号：临 2025-055 淮河能源（集团）股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 会议召开时间：2025 年 11 月 20 日（星期四）上午 9:00-10:00 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/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 13 日（星期四）至 11 月 19 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 hhny575@163.com 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。 淮河能源（集团）股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日发布公司 2025 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 2025 年第三季度经营成果 ...

Summary of Huaihe Energy Conference Call Company Overview - **Company**: Huaihe Energy - **Industry**: Power Generation and Coal Mining Key Financial Metrics - **Electricity Generation**: 12.375 billion kWh in the first three quarters of 2025, a decrease of 9.63% year-on-year [2][3] - **Raw Coal Production**: 4.4629 million tons, an increase of 8.18% year-on-year [2][4] - **Commodity Coal Production**: 3.6106 million tons, an increase of 7.89% year-on-year [2][4] - **Electricity Trading Volume**: 9.423 billion kWh, a decrease of 3.25% year-on-year [2][4] - **Coal Trade Volume**: 26.28 million tons, an increase of 12% year-on-year [2][4] - **Revenue**: 21.3 billion CNY [3] - **Total Profit**: 928 million CNY [3] - **Net Profit**: 792 million CNY [3] - **Total Assets**: 23.847 billion CNY [3] - **Net Assets**: 12.307 billion CNY [3] - **Earnings Per Share**: 0.19 CNY [3] - **Debt Ratio**: 41.61% [3] Restructuring and Capacity Expansion - **Restructuring Status**: Application submitted to the CSRC, expected approval next week [2][5] - **Post-Reorganization Capacity**: - Controlling installed capacity will reach 11 million kW - Equity installed capacity will reach 14.8 million kW [2][6][10] - **New Projects**: - Panji Phase II and Xieqiao Power Plant have commenced operations [2][6] - Four new units expected to be operational by the end of the year [2][6] Profitability and Market Conditions - **Profit Level**: Panji Phase I profit per kWh is 0.055 CNY [7] - **Electricity Price Trends**: - Decrease in on-grid electricity price by 0.02 CNY, but cost per kWh also decreased by 0.01 CNY, maintaining overall profitability [7] - Uncertainty in 2026 electricity prices due to market pressures, but coal price recovery and national price stabilization policies provide support [7] Future Outlook - **Performance Expectations**: Optimistic outlook for future performance due to enhanced asset quality and shared cost advantages from new projects [8] - **Asset Valuation Method**: Utilizes asset-based valuation due to the capital-intensive nature of the coal and power industry [9] - **Coal Supply Assurance**: Coal supply primarily secured through company-owned mines, supplemented by long-term contracts with Huainan Mining [11] Dividend Policy - **Dividend Commitment**: Company commits to a minimum annual cash dividend of 0.19 CNY per share (before tax) from 2025 to 2027 [14]