本次会议是否有否决议案：无 一、 会议召开和出席情况 证券代码：600575 证券简称：淮河能源 公告编号：临 2025-045 淮河能源（集团）股份有限公司 2025年第二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： (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 | 870 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 2,245,317,157 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 57.7758 | | 份总数的比例（%） | | (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（代行董事会秘书职责） 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《 ...

Group 1 - The technology sector, represented by TMT indices, has seen significant growth, with indices in communication, electronics, and media rising over 30% as of September 15 [1] - In contrast, the dividend sector has underperformed, with the CSI Dividend Index declining over 1% this year [1] - Long-term effectiveness of dividend strategies remains intact, with low valuation and high dividend yields attracting long-term capital [1] Group 2 - Companies with high dividend potential are gaining attention, with over 600 companies disclosing shareholder return plans for 2025-2027 [2] - Jianghe Group plans to distribute at least 80% of its net profit or a minimum of 0.45 yuan per share in cash dividends during 2025-2027 [2] - Huaihe Energy aims to distribute no less than 75% of its net profit or a minimum of 0.19 yuan per share in cash dividends during the same period [2] Group 3 - China Shenhua and Mindray Medical are tied for third place, each planning to distribute at least 65% of their net profit in cash dividends from 2025 to 2027 [3] - Other companies like Guodian Power, Zhongfu Industrial, and Wantong Expressway also have dividend rates of at least 60% [3] - Historical data shows that these companies have strong dividend records, with cumulative dividends exceeding 100% of net profits in the last three years for some [3] Group 4 - Institutions predict earnings per share for high dividend companies, with Sichuan Road and Bridge expected to have a dividend yield exceeding 6% based on a 60% payout ratio [4] - Zhongfu Industrial is also projected to have a dividend yield over 5% based on similar calculations [4] - A total of 25 stocks are forecasted to have dividend yields exceeding 2%, with an average annual increase of nearly 11%, outperforming the CSI Dividend Index [4]

Core Viewpoint - Over 600 companies have disclosed their shareholder return plans for 2025-2027, indicating a strong focus on dividend payouts in the upcoming years [1] Summary by Category Dividend Rates - Jianghe Group has the highest projected dividend rate, followed by Huaihe Energy, with China Shenhua and Mindray Medical tied for third place [1] Earnings Predictions and Dividend Yields - Based on consensus earnings per share forecasts, 25 stocks are expected to have dividend yields exceeding 2% [1] - The average annual increase for these 25 stocks is nearly 11%, significantly outperforming the performance of the CSI Dividend Index during the same period [1] Stock Performance - Notable stock performances include Zhongfu Industrial and Tianshan Aluminum, both of which have seen annual increases exceeding 50% [1] - Jianghe Group has experienced an annual increase of over 48%, ranking third, with a commitment to a minimum dividend rate of 80% over three years, which is the highest among the companies mentioned [1]

Core Viewpoint - Huaihe Energy's stock has shown fluctuations with a recent increase of 2.06%, but the year-to-date performance indicates a decline of 12.59% [1] Financial Performance - For the first half of 2025, Huaihe Energy reported operating revenue of 13.737 billion yuan, a year-on-year decrease of 13.18%, and a net profit attributable to shareholders of 448 million yuan, down 22.15% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 1.099 billion yuan, with 466 million yuan distributed over the last three years [3] Stock Market Activity - As of September 15, Huaihe Energy's stock price was 3.47 yuan per share, with a total market capitalization of 13.485 billion yuan [1] - The stock has seen a net inflow of 5.7696 million yuan from main funds, with significant buying and selling activity recorded [1] - The stock has appeared on the "Dragon and Tiger List" twice this year, with the latest instance on May 9, where net buying reached 67.0857 million yuan [1] Business Overview - Huaihe Energy, established on November 29, 2000, and listed on March 28, 2003, operates in sectors including railway transportation, coal trading, thermal power generation, and electricity sales [2] - The company's revenue composition is as follows: logistics trade 68.36%, electricity 22.27%, coal sales 6.24%, railway transportation 2.57%, and others 0.55% [2] Shareholder Information - As of September 12, 2025, Huaihe Energy had 66,700 shareholders, with an average of 58,241 circulating shares per shareholder [2] - Notable shareholders include Wan Jia Selected A, holding 19.2791 million shares, and Hong Kong Central Clearing Limited, holding 14.885 million shares [3]

Core Viewpoint - Huaihe Energy Group Co., Ltd. is undergoing a significant acquisition process to enhance its competitive position in the energy sector through the integration of coal and electricity operations, which is expected to yield substantial synergies and operational efficiencies [1][2]. Group 1: Transaction Necessity and Synergies - The transaction is deemed necessary due to the overlapping business areas of Huaihe Energy and the target company, which includes thermal power generation and renewable energy, allowing for significant operational synergies post-acquisition [2]. - The integration will facilitate unified management of power plants, optimization of coal procurement, and enhancement of regional market influence through asset consolidation [2]. - The acquisition will also address previous issues related to competition and enhance the overall competitiveness of Huaihe Energy, as prior restructuring efforts did not include certain key assets [2]. Group 2: Business Analysis of the Power Group - The power group operates three thermal power plants and 22 photovoltaic projects, with additional projects under construction, demonstrating strong competitive metrics in power generation and cost efficiency [3]. - Despite the rapid growth of renewable energy capacity, thermal power is expected to maintain high utilization rates, particularly in Anhui Province, ensuring stable demand for the power group's output [3]. - The acquisition is anticipated to improve operational quality in coal and electricity business, accelerating the establishment of an integrated coal-electricity-new energy framework [3]. Group 3: Financial and Governance Aspects - The power group has effectively managed its financial obligations, including the pledging of electricity sales rights to secure bank loans, with expectations of meeting repayment obligations without significant risk [3]. - The governance structure allows for effective control over subsidiaries, ensuring operational independence while maintaining a clear basis for management fee settlements [3].

Core Viewpoint - Huaihe Energy Group Co., Ltd. conducted a detailed review and explanation of financial matters in response to the inquiry letter regarding the issuance of shares and cash payment for asset acquisition and related transactions, covering various aspects of the company's financial and operational status [1] Group 1: Related Transactions - The accountant analyzed the borrowing of funds and asset sales to related parties by the Electric Power Group, confirming that the funds borrowed were primarily used for daily operations, with reasonable interest rates and no non-operational fund occupation, and all principal and interest have been fully recovered [2] - The Electric Power Group sold assets of the Panji Power Plant to address competition issues, with asset pricing being reasonable and in line with contractual payment progress [2] Group 2: Fund Management - The Electric Power Group established a robust internal control system for funds deposited with the group's financial company, ensuring independence and security, with no non-operational fund occupation [3] - The deposit and loan amounts are aligned with interest income and expenses, and discrepancies in disclosed deposit balances are due to non-related party deposits not being included in related transactions [3] Group 3: Investment Income - Investment income for Huaihe Energy is aligned with the operational performance of subsidiaries, influenced by coal prices, and the acquisition of minority stakes complies with regulations [4] - Subsidiaries decide on dividends based on performance, with the listed company enhancing its dividend capacity to protect investor interests [4] Group 4: Fixed Assets and Construction in Progress - The changes in the original value of fixed assets are consistent with production capacity variations, and effective internal controls are in place for impairment testing [5] - Construction projects are progressing normally, with no premature or delayed transfers to fixed assets, and the impact of new depreciation on operations is expected to be minimal [5]

目 录 | 一、审计报告……………………………………………………… | | | | | --- | --- | --- | --- | | | 第 | 1—5 | 页 | | 二、财务报表……………………………………………………… | 第 | 6—13 | | 页 | | --- | --- | --- | --- | --- | | （一）合并及母公司资产负债表………………………………第 | | 6—7 | | 页 | | （二）合并及母公司利润表……………………………………… | | 第 | 8 | 页 | | （三）合并及母公司现金流量表………………………………… | | 第 | 9 | 页 | | （四）合并及母公司所有者权益变动表……………………第 | | 10—13 | | 页 | | 三、财务报表附注……………………………………………… 第 | | 14—139 | | 页 | 四、报告附件……………………………………………………第 140—143 页 3-1-1 审 计 报 告 审 计 报 告 第 1 页 共 143 页 第 1 页 共 143 页 3-1-2 天健审〔2025〕5-102 号 ...

中信证券股份有限公司 关于淮河能源（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 之 独立财务顾问报告 （修订稿） 独立财务顾问 二〇二五年九月 独立财务顾问声明和承诺 一、独立财务顾问声明 （一）本独立财务顾问与本次交易各方无任何关联关系。本独立财务顾问 本着客观、公正的原则对本次交易出具独立财务顾问报告； （二）本独立财务顾问报告所依据的文件和材料由本次交易各方提供，提 供方对所提供文件及资料的真实性、准确性和完整性负责，并保证该等信息不 存在虚假记载、误导性陈述或者重大遗漏。本独立财务顾问不承担由此引起的 任何风险责任； （三）本独立财务顾问报告是在假设本次交易各方当事人均全面和及时履 行本次交易相关协议和声明或承诺的基础上出具； （四）本独立财务顾问报告不构成对上市公司的任何投资建议或意见，对 投资者根据本独立财务顾问报告作出的任何投资决策可能产生的风险，本独立 财务顾问不承担任何责任； （五）本独立财务顾问未委托或授权其他任何机构和个人提供未在独立财 务顾问报告中列载的信息，以作为本独立财务顾问报告的补充和修改，或者对 本独立财务顾问报告作任何解释或说明。未经独立财务顾问书面同意，任何人 ...

证券代码：600575 证券简称：淮河能源 公告编号：临 2025-043 淮河能源（集团）股份有限公司 第八届监事会第十三次会议决议公告 本公司监事会及全体监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。 淮河能源（集团）股份有限公司（以下简称"公司"或"上市公司"）第八届 监事会第十三次会议于 2025 年 9 月 12 日在公司二楼二号会议室召开，会议通知于 2025 年 9 月 6 日以电子邮件的形式向全体监事发出。会议应到监事 4 人，实到 4 人。 公司董事长周涛（代行董事会秘书职责）列席了会议。会议由监事会主席王小波先 生主持，会议的召开符合《中华人民共和国公司法》（以下简称"《公司法》"） 和《公司章程》的规定。会议逐项审议并以书面记名表决的方式通过如下决议： 一、审议通过了《关于<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（草案）>及其摘要的议案》 就本次交易，根据《公司法》《证券法》《上市公司重大资产重组管理办法》 《上市公司证券发行注册管理办法》《公开发行证券的公司信息披露内容与格式准 则第 2 ...

证券代码：600575 证券简称：淮河能源 公告编号：临 2025-042 淮河能源（集团）股份有限公司 第八届董事会第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。 淮河能源（集团）股份有限公司（以下简称"公司"或"上市公司"）第八 届董事会第十六次会议于 2025 年 9 月 12 日在公司二楼二号会议室召开，会议通 知于 2025 年 9 月 6 日以电子邮件的形式向全体董事发出。会议应到董事 8 人， 实到 8 人。公司监事和高级管理人员列席了会议。会议由董事长周涛先生主持， 会议的召开符合《中华人民共和国公司法》（以下简称"《公司法》"）和《公司 章程》的规定。会议逐项审议并以书面记名表决的方式通过如下决议： 一、审议通过了《关于<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（草案）>及其摘要的议案》 就本次交易，根据《公司法》《证券法》《上市公司重大资产重组管理办法》 《上市公司证券发行注册管理办法》《公开发行证券的公司信息披露内容与格式 准则第 26 号——上市公司 ...