| 1、出席会议的股东和代理人人数 | 357 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 752,514,922 | | 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 | 67.7988 | | 份总数的比例（%） | | (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： 证券代码：600792 证券简称：云煤能源 公告编号：2025-060 云南煤业能源股份有限公司 2025年第五次临时股东会决议公告 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)股东会召开的时间：2025 年 11 月 21 日 (二)股东会召开的地点：云南省昆明市安宁市草铺镇安宁产业园区云南煤业 能源股份有限公司 315 会议室 (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议由公司董事会召集，公司董事长李树雄先生主持，采用现场投票与 网络投票相结合的方式，本次会议的召集、召 ...

●公司全体董事出席了本次会议。 ●本次董事会议案均获通过，无反对票、弃权票。 一、董事会会议召开情况 云南煤业能源股份有限公司（以下简称公司）第十届董事会第四次临时会 议于 2025 年 11 月 21 日以现场和通讯表决方式召开，会议通知及资料于 2025 年 11 月 18 日以电子邮件方式传送给董事会全体董事。本次会议由董事长李树 雄先生主持召开，本公司实有董事 7 人，实际参加表决的董事 7 人，收回有效 表决票 7 张，其中董事莫秋实先生以通讯方式参会表决。公司财务总监兼董事 会秘书戚昆琼女士，副总经理邱光伟先生、胡永先生，首席合规官、总法律顾 问李宏武先生列席本次会议。本次会议的召集及召开程序符合《公司法》《公司 章程》的有关规定。 二、董事会会议审议情况 云南煤业能源股份有限公司 第十届董事会第四次临时会议决议公告 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。 重要内容提示： 证券代码：600792 证券简称：云煤能源 公告编号：2025-061 以 7 票赞成，0 票反对，0 票弃权审议通过关于修订《公司董事 ...

Core Viewpoint - Yunmei Energy's stock price has experienced fluctuations, with a year-to-date increase of 18.98% but a recent decline of 16.98% over the past five trading days [1] Group 1: Stock Performance - As of November 21, Yunmei Energy's stock price was 4.45 CNY per share, with a market capitalization of 4.939 billion CNY [1] - The stock has seen a trading volume of 62.68 million CNY and a turnover rate of 1.26% [1] - The company has appeared on the "龙虎榜" (top trading list) eight times this year, with the latest appearance on November 17 [1] Group 2: Financial Performance - For the period from January to September 2025, Yunmei Energy reported a revenue of 3.956 billion CNY, a year-on-year decrease of 23.07% [2] - The company recorded a net profit attributable to shareholders of -182 million CNY, which represents a year-on-year increase of 41.54% [2] Group 3: Business Overview - Yunmei Energy, established on January 20, 1997, primarily engages in the production of coke from coal, utilizing by-products for gas and chemical production [1] - The revenue composition includes coke (79.41%), gas (8.19%), chemical products (7.73%), equipment manufacturing (3.20%), and others (1.47%) [1] Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders was 40,000, a decrease of 10.20% from the previous period [2] - The top three circulating shareholders include Guotai Zhenzheng Coal ETF, with holdings of 17.3544 million shares, an increase of 10.361 million shares [3]

Core Insights - The coke sector experienced a decline of 2.54% on November 20, with Antai Group leading the drop [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Sector Performance - The following table summarizes the closing prices and percentage changes of key stocks in the coke sector: - Baotailong (601011): Closed at 3.87, up 0.52% - Shanxi Coking (600740): Closed at 4.17, down 1.18% - Yunwei Co. (600725): Closed at 3.75, down 1.32% - Shaanxi Black Cat (601015): Closed at 4.19, down 2.10% - Meijin Energy (000723): Closed at 5.37, down 2.54% - Yunmei Energy (600792): Closed at 4.55, down 3.81% - Antai Group (600408): Closed at 5.07, down 9.63% [1] Capital Flow - The coke sector saw a net outflow of 152 million yuan from main funds, while retail investors contributed a net inflow of 166 million yuan [1] - The following table details the capital flow for individual stocks: - Antai Group (600408): Main funds net outflow of 3.38 million yuan, retail net inflow of 2.73 million yuan - Yunwei Co. (600725): Main funds net outflow of 2.05 million yuan, retail net outflow of 0.73 million yuan - Baotailong (601011): Main funds net outflow of 13.72 million yuan, retail net outflow of 20.12 million yuan - Shanxi Coking (600740): Main funds net outflow of 17.10 million yuan, retail net inflow of 13.75 million yuan - Shaanxi Black Cat (601015): Main funds net outflow of 18.61 million yuan, retail net inflow of 22.14 million yuan - Yunmei Energy (600792): Main funds net outflow of 20.40 million yuan, retail net inflow of 27.00 million yuan - Meijin Energy (000723): Main funds net outflow of 83.22 million yuan, retail net inflow of 56.04 million yuan [2]

Group 1 - The coal mining and processing sector continues to experience a downward trend, with significant declines in stock prices for companies such as Antai Group and Dayou Energy, which both hit the daily limit down [1] - Yunmei Energy saw a drop of over 6%, while other companies like Shaanxi Black Cat, Zhengzhou Coal Electricity, and Baotailong also experienced declines [1]

Core Viewpoint - Yunmei Energy's stock price dropped by 5.06% to 4.88 CNY per share, with a trading volume of 83.01 million CNY and a turnover rate of 1.52%, resulting in a total market capitalization of 5.416 billion CNY [1] Company Overview - Yunnan Coal Industry Energy Co., Ltd. is located in Anning City, Yunnan Province, and was established on January 20, 1997, with its listing date on January 23, 1997 [1] - The company's main business involves producing coke from coal, utilizing by-products to manufacture gas or methanol, and deep processing by-products like coal tar and crude benzene into chemical products [1] - Revenue composition is as follows: coke 79.41%, gas 8.19%, chemical products 7.73%, equipment manufacturing 3.20%, other (supplementary) 1.47%, and gas engineering 0.01% [1] Shareholder Information - Guotai Fund's Guotai Zhongzheng Coal ETF (515220) is among the top ten circulating shareholders of Yunmei Energy, having increased its holdings by 10.361 million shares in Q3, totaling 17.3544 million shares, which represents 1.64% of the circulating shares [2] - The estimated floating loss for the ETF today is approximately 4.5121 million CNY [2] - The Guotai Zhongzheng Coal ETF was established on January 20, 2020, with a current scale of 11.413 billion CNY, yielding 5.56% this year, ranking 3888 out of 4208 in its category [2] Fund Management - The fund manager of Guotai Zhongzheng Coal ETF is Wu Zhonghao, who has been in the position for 3 years and 297 days [3] - The total asset scale of the fund is 25.391 billion CNY, with the best fund return during his tenure being 77.87% and the worst being -13.36% [3]

Group 1 - The A-share market showed a rebound in technology stocks, particularly in AI-related concepts, while the lithium battery industry experienced a correction [1] - The Shanghai Composite Index fell by 0.81%, the Shenzhen Component Index decreased by 0.92%, and the ChiNext Index dropped by 1.16% [1] - AI application stocks performed well, with Fushi Holdings hitting the daily limit, Meideng Technology rising over 22%, and Vision China also reaching the daily limit [1] Group 2 - The coal sector faced a collective adjustment, with the coal mining and processing sector declining by 4.59% [1] - Individual stocks such as Yunmei Energy and Baotailong hit the daily limit down [1] - Yunmei Energy announced that it did not find any media reports or market rumors that could significantly impact its stock price, and it reported negative net profits for both 2024 and the first nine months of 2025 [1] Group 3 - Shanxi Securities' research report indicated that with the implementation of "anti-involution" policies, the expected increase in domestic coal supply is limited, providing downward support for coal prices [1] - The demand is expected to rise in the fourth quarter due to seasonal factors, leading to an optimistic outlook for coal prices [1] - The coal industry's performance in the fourth quarter may surpass that of the third quarter, suggesting potential value for allocation in the sector [1]

Market Performance - The AI application sector saw a counter-trend rise, with Fushi Holdings (300071) hitting the daily limit up, Meideng Technology rising over 22%, and Vision China (000681) also reaching the daily limit up [1] - The coal sector experienced a collective adjustment, with the coal mining and processing sector dropping by 4.59%, and individual stocks like Yunmei Energy and Baotailong hitting the daily limit down [5][1] - The popular stock Huaxia Happiness (600340) achieved a "four consecutive limit up," closing with over 260,000 orders, making it the most popular stock on the Tonghuashun A-share list [9][1] Japanese Market Concerns - Japanese media and experts express concerns over deteriorating Sino-Japanese relations, which may further impact Japan's economy already facing downward pressure, potentially leading to negative growth in Q4 [4] - The Tokyo stock market saw a sell-off in tourism-related stocks, including department stores, transportation, and consumer goods, due to fears of reduced visitors from China [4] Coal Sector Analysis - Antai Group (600408) announced that its stock price had risen significantly, exceeding the Shanghai Composite Index's growth, indicating potential irrational market speculation [8] - The company reported negative net profits for 2023, 2024, and the first three quarters of 2025, raising concerns about the overall profitability of the coal industry [8] - Shanxi Securities' research report suggests limited expectations for increased domestic coal supply, with optimistic price expectations due to seasonal demand in Q4 [8] Company Announcements - Huaxia Happiness announced it received a court decision appointing a temporary management team for its pre-restructuring period, with significant uncertainty regarding the acceptance of its restructuring application [11] - Yunmei Energy reported no significant changes in its operations despite recent stock price fluctuations, with projected negative net profits for 2024 and the first nine months of 2025 [5][8]

Investment Rating - The report does not provide a specific investment rating for the industry or companies mentioned [1]. Core Insights - The report highlights several new stock listings and trading activities scheduled for November 18, 2025, including companies such as Jingchuang Electric (12.10), Beikang Testing (6.70), and Nanguang Digital (5.69) [1]. - It also mentions various corporate actions such as tender offers, cash options, and acquisition requests, indicating active market movements [1]. Summary by Relevant Sections - **New Stock Listings**: Companies like Jingchuang Electric, Beikang Testing, and Nanguang Digital are set to debut on the market with respective prices of 12.10, 6.70, and 5.69 [1]. - **Corporate Actions**: The report details several corporate actions including a tender offer for Tianpu Co. (605255) from November 20 to December 19, 2025, and cash options for Hangqi Wheel B (200771) from November 19 to November 25, 2025 [1]. - **Market Alerts**: It lists companies experiencing significant fluctuations, such as Moen Electric (002451) and Huasheng Lithium Battery (688353), indicating potential investment risks and opportunities [1].

Core Insights - The coking coal sector experienced a significant decline of 6.99% on November 18, with Yunmei Energy leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Coking Coal Sector Performance - Key stocks in the coking coal sector showed notable declines, with the following closing prices and percentage changes: - Yunwei Co., Ltd. (600725): 3.88, -4.43% - Meijin Energy (000723): 5.58, -4.62% - Shanxi Coking Coal (600740): 4.30, -6.32% - Shaanxi Black Cat (601015): 4.56, -8.80% - Antai Group (600408): 6.23, -9.58% - Baotailong (601011): 4.15, -9.98% - Yunmei Energy (600792): 5.14, -9.98% [1] Capital Flow Analysis - The coking coal sector saw a net outflow of 808 million yuan from main funds, while retail investors contributed a net inflow of 752 million yuan [1] - Detailed capital flow for key stocks includes: - Yunwei Co., Ltd.: Main funds net outflow of 21.87 million yuan, retail net inflow of 18.09 million yuan - Shanxi Coking Coal: Main funds net outflow of 42.15 million yuan, retail net inflow of 25.34 million yuan - Yunmei Energy: Main funds net outflow of 43.20 million yuan, retail net inflow of 47.27 million yuan [2]