证券代码：600803 证券简称：新奥股份 公告编号：临 2025-104 新奥天然气股份有限公司 关于聘任 2025 年度 H 股审计机构的公告 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。 重要内容提示： 拟聘任的会计师事务所名称：国卫会计师事务所有限公司 聘任会计师事务所事宜需提交公司股东会审议通过 一、拟聘任会计师事务所事项的情况说明 新奥天然气股份有限公司（以下简称"公司"）拟以全资子公司新能（香港） 能源投资有限公司作为要约人私有化新奥能源控股有限公司（以下简称"新奥能 源"，股票代码：02688.HK），私有化交易的对价包含公司向新奥能源股东发行 的境外上市普通股（"H 股"），公司拟申请发行 H 股并以介绍方式在香港联合交 易所有限公司主板上市（以下简称"本次 H 股发行"）。 待本次 H 股发行完成后，根据上市后相关要求，公司或需聘请审计机构， 负责出具 2025 年度 H 股审计报告。公司于 2025 年 12 月 10 日召开第十一届董 事会第六次会议，审议通过了《关于聘任 2025 年度 H 股审计机 ...

新奥天然气股份有限公司 关于召开2025年第三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 证券代码：600803 证券简称：新奥股份 公告编号：临 2025-106 (一)股东会类型和届次 2025年第三次临时股东会 (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 召开的日期时间：2025 年 12 月 26 日10 点 00 分 召开地点：河北省廊坊市开发区华祥路 118 号新奥科技园 B 座公司会议室 (五)网络投票的系统、起止日期和投票时间。 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 26 日至2025 年 12 月 26 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 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联 网投票平台的投票 ...

证券代码：600803 证券简称：新奥股份 公告编号：临 2025-098 新奥天然气股份有限公司 第十一届董事会第六次会议决议公告 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。 新奥天然气股份有限公司（以下简称"公司"或"新奥股份"）第十一届董事会第六次会议 通知于 2025 年 12 月 3 日以邮件的形式发出，会议按照预定时间于 2025 年 12 月 10 日以现场 与通讯相结合的方式召开，全体董事出席本次会议。本次会议的召开和表决程序符合《中华 人民共和国公司法》和《新奥天然气股份有限公司章程》的有关规定，合法有效。经有表决 权的与会董事表决，审议通过以下议案： 一、审议通过了《关于 2026 年度担保额度预计的议案》 本议案在提交董事会审议前已经公司第十一届董事会 2025 年第六次审计委员会审议通 过。 具体内容详见公司同日披露于上海证券交易所网站的《新奥股份关于新增反担保事项的 公告》。 表决结果：同意 11 票，反对 0 票，弃权 0 票。 本议案尚需提请股东会审议。 三、审议通过了《关于 2026 年度委 ...

新奥股份公告称，公司于2025年12月10日召开董事会会议，审议通过2026年度大宗商品套期保值额度预 计议案，该议案需提交股东会审议。2026年预计动用交易保证金和权利金上限47亿美元，额度可循环使 用，资金为自有资金。交易期限为股东会审议通过之日起12个月，交易商品包括BRENT原油、JKM天 然气等，交易类型含掉期、期权等。公司开展此业务旨在规避价格波动风险，同时也提示了操作、信用 等风险并制定相应风控措施。 ...

证券代码：600803 证券简称：新奥股份 之 独立财务顾问报告 2025 年 12 月 | | | | | | 上海荣正企业咨询服务（集团）股份有限公司 关于 新奥天然气股份有限公司 2021 年限制性股票激励计划 预留授予部分 第四个解除限售期解除限售条件成就 一、释义 本独立财务顾问报告中，除非文义载明，下列简称具有如下含义： | 上市公司、公司、新奥股份 | 指 | 新奥天然气股份有限公司 | | --- | --- | --- | | 独立财务顾问 | 指 | 上海荣正企业咨询服务（集团）股份有限公司 | | 本激励计划、《激励计划》 | 指 | 新奥天然气股份有限公司 年限制性股票激励计划 2021 | | 限制性股票 | 指 | 公司根据本激励计划规定的条件和价格，授予激励对象一定 数量的公司股票，该等股票设置一定期限的限售期，在达到 | | | | 本激励计划规定的解除限售条件后，方可解除限售流通 | | 激励对象 | 指 | 按照本激励计划规定，获得限制性股票的公司董事、 高级管 | | | | 理人员、核心管理/业务人员 | | 授予日 | 指 | 公司向激励对象授予权益的日期，授予日必须 ...

Investment Rating - The report provides a positive investment outlook for various sectors within the energy industry, particularly highlighting opportunities in hydropower, thermal power, nuclear power, green energy, and gas companies [11][13]. Core Insights - The mechanism electricity pricing results across multiple regions are approaching their upper limits, indicating strong demand and government support for renewable energy projects [4][7]. - Natural gas prices in Europe are declining, while U.S. gas prices have reached a new high for 2023, driven by increased heating demand due to cold weather [13][20]. - The report emphasizes the importance of operational efficiency in renewable energy projects, as profitability varies significantly across different regions [10][11]. Summary by Sections 1. Electricity Pricing - Recent mechanism electricity pricing results show that several regions, including Hebei and Ningxia, have prices close to the upper limits, reflecting strong demand and sufficient mechanism electricity indicators [4][8]. - The competitive pricing results indicate a disparity based on local consumption capacity and policy direction, with some provinces achieving significantly lower prices due to weaker demand [9][10]. 2. Natural Gas Market - U.S. Henry Hub spot prices reached $5.19/mmBtu, marking a 12.91% increase week-on-week, while European gas prices, such as the TTF, have seen a decline [13][20]. - The report notes a 1.3% year-on-year decrease in China's natural gas consumption in October, with expectations for growth in the upcoming winter months due to heating demand [30][32]. 3. Investment Recommendations - Hydropower: Favorable conditions for winter and spring generation, with recommendations for companies like Yangtze Power and Guodian Power [11]. - Thermal Power: Companies with diversified income sources are recommended, including Guodian Power and Inner Mongolia Huadian [11]. - Nuclear Power: Continued growth expected with new approvals, suggesting a focus on China Nuclear Power and China General Nuclear Power [11]. - Green Energy: Increased stability in project returns with recommendations for companies like Xintian Green Energy and Longyuan Power [11]. - Gas Companies: Recommendations include Kunlun Energy and New Hope Energy, benefiting from cost reductions and improved profitability [32].

Investment Rating - The report maintains a positive outlook on the public utility and environmental sectors, particularly in electricity and natural gas [3][4]. Core Insights - The report highlights significant regional differences in mechanism electricity pricing, with recent auction results approaching upper limits across multiple provinces, indicating strong demand and government support for renewable energy projects [4][10]. - Natural gas prices in Europe continue to decline, while U.S. prices have reached a new high for 2023, driven by increased heating demand due to cold weather [14][21]. - The report emphasizes the importance of refined operational strategies for power stations, as profitability varies significantly across regions and projects [11][12]. Summary by Sections 1. Electricity - Recent mechanism electricity auction results show prices close to upper limits in regions like Hebei and Ningxia, with significant volumes of wind and solar energy being auctioned [8][9]. - The report notes that the differences in mechanism electricity pricing reflect local consumption capabilities and policy directions [10][11]. 2. Natural Gas - U.S. Henry Hub spot prices reached $5.19/mmBtu, a 12.91% increase week-on-week, while European gas prices, such as TTF and NBP, have seen declines of 5.57% and 9.96% respectively [14][15]. - The report indicates a 1.3% year-on-year decline in China's apparent natural gas consumption in October, with expectations for growth in Q4 due to seasonal heating demands [31][33]. 3. Investment Recommendations - Recommendations include investing in hydropower companies like Yangtze Power and Guodian Power, as well as coal-fired power companies such as Guodian Power and Inner Mongolia Huadian [12]. - For natural gas, the report suggests focusing on integrated companies like Kunlun Energy and New Hope Energy, which are expected to benefit from cost reductions and improved profitability [33][34].

Investment Rating - The report maintains an "Overweight" rating for the gas industry [1] Core Insights - The report highlights the ongoing price fluctuations in the gas market, with a notable increase in US gas prices due to sustained cold weather and inventory withdrawals, while European gas prices are declining [4][9] - It emphasizes the supply-demand dynamics, indicating a decrease in US gas storage and a drop in European gas supply, alongside a slight increase in domestic gas consumption in China [15][19] - The report discusses the progress of price adjustments in the gas sector, with a significant number of cities implementing residential price adjustments, leading to improved profitability for city gas companies [31] Price Tracking - As of December 5, 2025, US HH gas prices increased by 13.2% week-on-week, while European TTF prices decreased by 6.2% [9][10] - The report notes that the average gas consumption in Europe for the first eight months of 2025 was 288.4 billion cubic meters, reflecting a year-on-year increase of 4.6% [15] - Domestic gas prices in China saw a week-on-week decrease of 1.4%, with a total apparent consumption of 354.1 billion cubic meters from January to October 2025, a year-on-year increase of 0.7% [19][23] Supply and Demand Analysis - The report forecasts continued cold weather leading to a 13.2% increase in US gas prices, with storage levels dropping to 39,230 billion cubic feet, a decrease of 120 billion cubic feet week-on-week [14] - European gas supply decreased by 9.9% week-on-week, with a notable drop in supply from inventory [15] - China's gas production increased by 6.5% year-on-year to 217.1 billion cubic meters, while imports decreased by 6.3% [23][24] Price Adjustment Progress - The report indicates that 67% of cities have implemented residential price adjustments, with an average increase of 0.22 yuan per cubic meter [31] - The report suggests that there is still a 10% room for price adjustment in city gas companies, indicating ongoing efforts to align pricing mechanisms [31] Investment Recommendations - The report recommends several companies for investment, including Xinao Energy, China Resources Gas, and Kunlun Energy, highlighting their attractive dividend yields [46][47] - It suggests focusing on companies with quality long-term contracts and cost advantages, such as Jiufeng Energy and Xinao Holdings [46][47] - The report also emphasizes the importance of energy independence and suggests monitoring companies with gas production capabilities [47]

数据显示，截至2025年11月28日，国证石油天然气指数(399439)前十大权重股分别为中国石油 (601857)、中国石化(600028)、中国海油(600938)、杰瑞股份(002353)、广汇能源(600256)、招商轮船 (601872)、新奥股份(600803)、中远海能(600026)、大众公用(600635)、海油工程(600583)，前十大权重 股合计占比65.78%。 油气ETF(159697)，场外联接(A：019827；C：019828；I：022861)。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 天风证券指出，对2026年原油供需增量判断，情景假设分析：①OPEC若26年Q2重启增产路径，预计 2026年全球供应增量为193万桶/日；相比2025年的过剩幅度增加93万桶/日。②OPEC若26年都不重启增 产，预计2026年全球供应增量为165万桶/日；相比2025年的过剩幅度增加65万桶/日。 油气ETF紧密跟踪国证石油天然气指数，国证石油天然气指数反映沪深北交易所石油天然气产业相关上 市公司的证券价格变化情况。 截至2025年12月4日 09:43， ...

新奥股份 600803 股权激励限售流通 24.25万 今日具体限售解禁股情况如下： 股票简称 股票代码 限售股类型 解禁股数 智通财经APP获悉，12月3日共有1家上市公司的限售股解禁，解禁总市值约469.51万元。 ...