登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600803 证券简称：新奥股份 公告编号：临2026-001 新奥天然气股份有限公司 关于2021年及2025年限制性股票激励计划部分股票回购注销实施的公告 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： ● 回购注销原因 1、新奥天然气股份有限公司（以下简称"公司"）2021年限制性股票激励计划中首次授予的9名激励对象 第四个解除限售期（即2024年度）个人绩效评价结果为"不合格"，2名激励对象因离职已不符合激励对 象条件，上述合计95.25万股由公司以授予价格加上银行同期存款利息之和回购注销；预留授予的2名激 励对象第四个解除限售期（即2024年度）个人绩效评价结果为"不合格"，其对应第四个解除限售期可解 除限售的限制性股票5.00万股不得解除限售，由公司以授予价格加上银行同期存款利息之和回购注销。 2、公司2025年限制性股票激励计划中首次授予的1名激励对象因离职已不符合激励对象条件，1名激励 对象因工作岗位调整已不符合激励对象条件，上述合计3 ...

北京国枫律师事务所 关于新奥天然气股份有限公司 2025 年限制性股票激励计划之 部分限制性股票回购注销实施情况的法律意见书 国枫律证字[2025] AN009-6 号 GRANDWAY 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街26号新闻大厦７层、8层 邮编:100005 电话（Tel）: 010-88004488/66090088 传真（Fax）: 010-66090016 北京国枫律师事务所 关于新奥天然气股份有限公司 2025 年限制性股票激励计划之 部分限制性股票回购注销实施情况的法律意见书 国枫律证字[2025] AN009-6 号 致:新奥天然气股份有限公司 北京国枫律师事务所(以下简称"本所")接受新奥天然气股份有限公司 委托,根据《公司法》《证券法》《管理办法》《律师事务所从事证券法律业务管 理办法》和《律师事务所证券法律业务执业规则(试行)》等有关法律、法规、 规章及规范性文件的规定,就新奥股份 2025年限制性股票激励计划(以下简称 "本次激励计划")的回购注销的相关事宜出具《北京国枫律师事务所关于新 奥天然气股份有限公司 2025 年限制性股 ...

证券代码：600803 证券简称：新奥股份 公告编号：临 2026-001 回购注销原因 1、新奥天然气股份有限公司（以下简称"公司"）2021 年限制性股票激励计 划中首次授予的 9 名激励对象第四个解除限售期（即 2024 年度）个人绩效评价 结果为"不合格"，2 名激励对象因离职已不符合激励对象条件，上述合计 95.25 万股由公司以授予价格加上银行同期存款利息之和回购注销；预留授予的 2 名激 励对象第四个解除限售期（即 2024 年度）个人绩效评价结果为"不合格"，其 对应第四个解除限售期可解除限售的限制性股票 5.00 万股不得解除限售，由公 司以授予价格加上银行同期存款利息之和回购注销。 2、公司 2025 年限制性股票激励计划中首次授予的 1 名激励对象因离职已不 符合激励对象条件，1 名激励对象因工作岗位调整已不符合激励对象条件，上述 合计 30.00 万股由公司以授予价格加上银行同期存款利息之和回购注销。 新奥天然气股份有限公司 关于 2021 年及 2025 年限制性股票激励计划 部分股票回购注销实施的公告 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 ...

北京国枫律师事务所 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 邮编: 100005 电话（Tel）: 010-88004488/66090088 传真(Fax): 010-66090016 北京国枫律师事务所 关于新奥天然气股份有限公司 2021 年限制性股票激励计划首次授予及预留授予 关于新奥天然气股份有限公司 2021 年限制性股票激励计划首次授予及预留授予 部分限制性股票回购注销实施情况的法律意见书 国枫律证字[2021] AN010-14 号 GRANDWAY 3. 本次激励计划首次授予及预留授予回购注销的实施情况; 4. 本所律师认为需要审查的其他文件。 部分限制性股票回购注销实施情况的法律意见书 国枫律证字[2021] AN010-14 号 致:新奥天然气股份有限公司 北京国枫律师事务所(以下简称"本所")接受新奥天然气股份有限公司委 托,已根据《公司法》《证券法》《管理办法》《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则(试行)》等有关法律、法规、 规章及规范性文件的规定,就新奥股份首次授 ...

Market Overview - The gas sector experienced a decline of 0.64% on January 13, with Zhongtai Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] Stock Performance - Notable gainers in the gas sector included: - Delong Huineng (code: 000593) with a closing price of 15.83, up 10.01% and a trading volume of 308,400 shares [1] - Shengtong Energy (code: 001331) closed at 62.28, up 6.23% with a trading volume of 262,800 shares [1] - Meinen Energy (code: 001299) closed at 13.38, up 3.96% with a trading volume of 164,400 shares [1] - Major decliners included: - Zhongtai Co., Ltd. (code: 300435) closed at 29.68, down 6.08% with a trading volume of 638,500 shares [2] - Jiufeng Energy (code: 605090) closed at 47.88, down 6.03% with a trading volume of 428,500 shares [2] - Dazhong Public Utilities (code: 600635) closed at 6.88, down 4.04% with a trading volume of 1,386,100 shares [2] Capital Flow - The gas sector saw a net outflow of 260 million yuan from institutional investors, while retail investors contributed a net inflow of 125 million yuan [2] - The capital flow for key stocks included: - Jiufeng Energy had a net inflow of 77.34 million yuan from institutional investors, but a net outflow of 51.09 million yuan from retail investors [3] - Meinen Energy experienced a net inflow of 20.82 million yuan from institutional investors, with a net outflow of 20.36 million yuan from retail investors [3] - Newao Co. (code: 600803) had a net inflow of 20.36 million yuan from institutional investors, but a net outflow of 13.72 million yuan from retail investors [3]

Group 1: Industry Overview - According to Raytad Energy, global upstream exploration and development spending is expected to be around $600 billion in 2025, a decrease of 4% year-on-year, with deepwater investments projected to decline by 6% [1] - China's crude oil production has rebounded since 2019 due to a long-term strategy for increasing reserves and production, with a CAGR of 2.2% from 2019 to 2024, while natural gas production has a CAGR of 7.3% during the same period [1] - The "Big Three" oil companies in China have significantly increased capital expenditures from 2020 to 2023 and are expected to maintain high levels in 2024 and 2025, which will support upstream reserve growth and benefit their oil service subsidiaries [1] Group 2: Company Performance - In the first half of 2025, major oil service companies benefited from the ongoing domestic "increase reserves and production" initiative and the gradual release of overseas business performance, leading to improved operational quality despite falling oil prices [2] - CNOOC's oil service subsidiary reported a 23.3% year-on-year increase in net profit attributable to shareholders, while other companies like Haiyou Development and Haiyou Engineering saw net profit changes of +13.1% and -8.2% respectively, with the latter experiencing a 27% increase in gross profit [2] - The annualized ROE for CNOOC's oil service companies in the first half of 2025 showed resilience, with CNOOC at +1.5 percentage points compared to the full year of 2024, indicating a potential improvement in international competitiveness [2] Group 3: Market Performance - As of January 13, 2026, the National Petroleum and Natural Gas Index (399439) rose by 0.81%, with significant increases in stocks such as CNOOC's oil service (+6.03%) and China National Petroleum (+3.57%) [3] - The oil and gas ETF (159697) increased by 1.15%, reflecting a four-day consecutive rise, with the latest price reported at 1.23 yuan and a net subscription of 15 million units [3] - The top ten weighted stocks in the National Petroleum and Natural Gas Index account for 67.11% of the index, including major players like China National Petroleum, Sinopec, and CNOOC [3]

Core Viewpoint - The report emphasizes the critical role of Sustainable Aviation Fuel (SAF) in aviation decarbonization, highlighting the scarcity and price increase of waste oil resources during the SAF production expansion cycle [1][3]. Investment Recommendations - Key recommendations include companies such as Huanlan Environment (600323), Longjing Environmental Protection (600388), and others in the environmental sector [2]. - Companies to watch include Dayu Water-saving (300021) and Lian Tai Environmental Protection (603797) [2]. Industry Insights - SAF is identified as the only feasible solution for aviation decarbonization, with a focus on the HEFA route using waste oil (UCO) as raw material. The EU mandates increasing SAF blending ratios from 2% in 2025 to 70% by 2050, with projected SAF demand reaching 3,662 million tons by 2050 [3]. - By the end of 2025, domestic SAF production capacity is expected to reach 1.2 million tons per year, with total planned capacity of 4.4 million tons per year [3]. - The price of SAF is projected to rise significantly due to supply constraints, with a potential increase of over 50% from the beginning of the year [3]. Policy Tracking - The government is set to invest over 1 billion yuan in the Yangtze River protection projects from 2025 to 2027, with a focus on sewage pipeline construction and ecological restoration [4]. - Investment suggestions include companies involved in water treatment and sewage management, such as Bihui Source and Energy Conservation Guozhen (300388) [4]. Strategic Outlook for 2026 - The strategy focuses on value and growth, emphasizing the importance of marketization and efficiency improvements in the solid waste sector, with potential dividend increases [5]. - The report highlights the significance of the dual carbon drive, with recommendations for companies involved in renewable resources and waste oil production [6]. Industry Tracking - In the sanitation equipment sector, sales of new energy sanitation vehicles increased by 64.01% year-on-year, with a penetration rate of 18.60% [7]. - The price of biodiesel has decreased, leading to a decline in profit margins, while lithium battery recycling shows improved profitability due to rising lithium prices [7].

Investment Rating - The report rates the gaming industry as "high" for investment [1] Core Views - The report emphasizes the importance of the "Solid Waste Comprehensive Treatment Action Plan," which aims for significant improvements in solid waste management by 2030, including a target of 4.5 billion tons of comprehensive utilization of major solid waste and 510 million tons of recycling of key resources [2][5][7] - It highlights the shift in the energy sector towards diversified revenue models for thermal power companies, recommending several key players in the industry [8] - The report discusses the current trends in natural gas pricing, noting a general decline in global gas prices due to mild weather conditions and stable supply [10][29] - It outlines the transition of hydrogen energy towards becoming a "regulator" of the power grid, emphasizing its role in energy storage and management [31][33] Summary by Sections 1. Environmental Protection - The "Solid Waste Comprehensive Treatment Action Plan" was released on January 4, aiming to enhance solid waste management and promote a green economy [5] - By 2030, the plan targets a comprehensive utilization of 4.5 billion tons of major solid waste and 510 million tons of recycling of key resources [2][6] - The focus is on industrial, urban, and agricultural waste, with a comprehensive governance approach to illegal dumping and construction waste [6][7] 2. Natural Gas - As of January 9, the Henry Hub spot price in the U.S. was $2.87/mmBtu, reflecting a weekly decline of 28.24% [10][11] - The report notes that the European gas prices have also decreased, with the TTF spot price at €29.00/MWh, down 1.43% week-on-week [10][16] - The overall gas market is characterized by stable supply and mild weather, leading to lower demand and prices [10][29] 3. Hydrogen Energy - The report discusses the integration of hydrogen energy into the power grid, highlighting its potential for large-scale energy storage and management [31] - It emphasizes the role of hydrogen in addressing renewable energy challenges and improving grid stability [31][33] - The report recommends companies involved in hydrogen production and technology as key investment opportunities [33] 4. Weekly Market Review - The report notes that the electric power equipment, gas, and environmental protection sectors outperformed the Shanghai and Shenzhen 300 index during the week of January 5 to January 9 [34] - It provides insights into the performance of various sectors, indicating a positive trend for certain energy and environmental stocks [36][39] 5. Company and Industry Dynamics - The report highlights the establishment of national zero-carbon parks, which will receive significant support for green energy initiatives [39] - It mentions the successful completion of green power transactions in Gansu, indicating a growing market for renewable energy [40][43] - The report includes updates on major companies' performance and strategic developments in the energy sector [44]

Investment Rating - The report maintains a positive outlook on the industry, indicating a "Look Favorably" investment rating [1]. Core Insights - The report highlights the release of the "Comprehensive Solid Waste Management Action Plan," which aims to enhance solid waste management and promote a circular economy by 2030, targeting a comprehensive utilization of 4.5 billion tons of major solid waste and 510 million tons of recyclable resources annually [2][6][8]. - Global natural gas prices have generally declined, influenced by mild weather conditions, with significant drops in prices across various markets, including a 28.24% decrease in the US Henry Hub spot price [11][12][18]. - The hydrogen energy sector is evolving towards becoming a key regulator in the power grid, with initiatives to integrate clean hydrogen production and utilization into microgrid systems, enhancing energy storage capabilities [35][37]. Summary by Sections 1. Environmental Protection - The "Comprehensive Solid Waste Management Action Plan" aims for significant improvements in solid waste management by 2030, with specific targets for waste recycling and resource utilization [2][6]. - The plan emphasizes the need for a circular economy that does not rely on subsidies, focusing on industrial collaboration and technological innovation to create a sustainable waste management system [7][8]. 2. Natural Gas - Natural gas prices have seen a significant decline, with the US Henry Hub spot price at $2.87/mmBtu, reflecting a 28.24% week-over-week drop [11][12]. - The report notes that the demand for natural gas is expected to remain weak in Northeast Asia, contributing to a slight decrease in LNG prices [11][30]. - Recommendations include focusing on integrated natural gas companies that are expected to benefit from cost reductions and improved profitability [32]. 3. Hydrogen Energy - The report discusses the strategic positioning of hydrogen energy as a flexible load regulator within the power grid, highlighting its potential to enhance energy storage and consumption efficiency [35][37]. - It emphasizes the importance of hydrogen energy in achieving energy security and autonomy, recommending companies involved in hydrogen production [35][37]. 4. Weekly Market Review - The report indicates that the electricity equipment, gas, and environmental protection sectors outperformed the Shanghai and Shenzhen 300 index during the review period [38]. 5. Company and Industry Dynamics - The report outlines significant developments in the renewable energy sector, including the establishment of national zero-carbon parks and the increase in green electricity trading volumes, which are expected to enhance market opportunities for leading companies in the sector [44][48].

Investment Rating - The report maintains an "Accumulate" rating for the gas industry [1] Core Viewpoints - The temperature is expected to rise to normal levels, leading to a decrease in gas prices in Europe and the US [4][9] - The overall supply of gas is sufficient, with domestic gas prices showing a week-on-week decrease of 1.4% [21] - The report emphasizes the importance of optimizing costs for city gas companies and the ongoing adjustment of pricing mechanisms [50] Price Tracking - As of January 9, 2026, the week-on-week changes in gas prices are as follows: US HH -27.5%, European TTF -5.7%, East Asia JKM -1.4%, China LNG ex-factory -1.4%, and China LNG CIF -4.8% [4][10] - The average daily gas generation in Europe increased by 26.8% week-on-week and 109.7% year-on-year to 1635.8 GWh [16] Supply and Demand Analysis - The US natural gas market price decreased by 27.5% week-on-week due to rising temperatures, with storage levels down by 1190 billion cubic feet to 32560 billion cubic feet [14] - European gas consumption from January to September 2025 was 313.8 billion cubic meters, a year-on-year increase of 4.1% [16] - Domestic gas consumption from January to November 2025 increased by 1.5% year-on-year to 392 billion cubic meters [21] Pricing Progress - Nationwide pricing adjustments are gradually being implemented, with 67% of cities having executed residential pricing adjustments, averaging an increase of 0.22 yuan per cubic meter [34] - The report indicates that there is still a 10% room for price adjustment in city gas companies [34] Investment Recommendations - The report recommends focusing on companies that can optimize costs and benefit from the ongoing pricing adjustments, such as Xin'ao Energy, China Resources Gas, and Kunlun Energy, all with dividend yields around 4.8% [51] - It also highlights the importance of companies with quality long-term contracts and flexible scheduling, such as Jiufeng Energy and Xin'ao Shares [51] - The report suggests paying attention to companies with gas production capabilities, such as Shouhua Gas and New Natural Gas, due to the increasing uncertainty in US gas imports [51]