安徽恒源煤电股份有限公司 2023 年年度股东大会会议资料 二 O 二四年四月 1 会议须知及议程 一、现场会议时间：2024 年 4 月 26 日（星期五）14:30 二、会议召集人：安徽恒源煤电股份有限公司董事会 三、现场会议地点：宿州市西昌路 157 号公司 8 楼会议室 四、会议召开方式：采取现场投票与网络投票相结合的方式 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 4 月 26 日至 2024 年 4 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 的投票时间为股东大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时间为 股东大会召开当日的 9:15-15:00。 五、会议审议表决事项： 1. 恒源煤电 2023 年度董事会工作报告 2.恒源煤电 2023 年度监事会工作报告 3.恒源煤电 2023 年度利润分配预案 4.恒源煤电 2023 年度财务决算及 2024 年度财务预算报告 5.恒源煤电 2023年度日常关联交易发生情况及 2024 年度日 常关联交易预计情 ...

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Investment Rating - The report maintains a "Buy" rating for the company [1][18] - Previous rating was also "Buy" [1] - Target price is set at 15.30 [1] - Previous target price was 10.60 [1] - Current price is 12.29 [1] Core Insights - The company reported a revenue of 77.86 billion yuan in 2023, a decrease of 7.24% year-on-year, and a net profit attributable to shareholders of 2.036 billion yuan, down 19.43% year-on-year, which aligns with market expectations [1][11] - The coal production and sales continue to rise, although prices are expected to decline in 2023 [1][11] - The company is expanding its power generation business and steadily increasing its dividend payout ratio [1][11] Summary by Sections Financial Performance - In 2023, the company achieved an operating income of 77.86 billion yuan, a decrease of 7.24% year-on-year [1][11] - The net profit attributable to shareholders was 2.036 billion yuan, down 19.43% year-on-year [1][11] - The average sales price for coal in 2023 was 959 yuan per ton, a decrease of 158 yuan per ton compared to the previous year [1][11] Production and Sales - The company's raw coal production reached 943.94 million tons, an increase of 1.07% year-on-year [1][11] - The total sales volume of commodity coal was 761.86 million tons, an increase of 8.19% year-on-year [1][11] - The company expects a slight decline in overall performance in 2024 due to pressure from coal prices [1][11] Dividend Policy - The company announced a dividend of 0.85 yuan per share for 2023, with a dividend payout ratio of 50% [1][11] - The dividend payout ratio has shown a steady upward trend [1][11] Future Outlook - The company anticipates a slight decrease in performance in 2024, but the overall performance fluctuation is expected to be limited [1][11] - The expansion of the power generation business is expected to contribute positively to future earnings [1][11]

Investment Rating - The report maintains a "Recommended" rating for the company [9]. Core Views - The company reported a revenue of 7.786 billion yuan in 2023, a year-on-year decrease of 7.24%, and a net profit attributable to shareholders of 2.036 billion yuan, down 19.43% year-on-year [9]. - The company plans to distribute a dividend of 0.85 yuan per share, with a payout ratio of 50.1%, resulting in a dividend yield of 6.9% based on the closing price on March 29, 2024 [9]. - Coal production and sales increased, but the decline in washing coal prices and rising costs impacted profitability [9]. - The company achieved a raw coal output of 9.4394 million tons in 2023, a year-on-year increase of 1.07%, and a sales volume of 7.6186 million tons, up 8.19% year-on-year [9]. - The average selling price of coal was 958.1 yuan per ton, a decrease of 14.2% year-on-year [9]. - The company has significant expansion potential in its coal segment, with a total coal production capacity of 19.8 million tons outside the listed company [9]. Financial Summary - The forecasted operating revenue for 2024 is 7.565 billion yuan, with a projected decline of 2.84% [4]. - The net profit for 2024 is estimated at 1.954 billion yuan, a decrease of 4.04% [4]. - The earnings per share (EPS) for 2024 is projected to be 1.63 yuan, with a price-to-earnings (PE) ratio of 8 [9]. - The company’s gross profit margin is expected to be 45.52% in 2024, down from 46.96% in 2023 [11]. - The total assets are projected to reach 22.078 billion yuan by 2024, with a debt-to-asset ratio of 38.33% [12].

Financial Performance - In 2023, the company achieved operating revenue of CNY 7,785,898,719.21, a decrease of 7.24% compared to CNY 8,393,167,117.91 in 2022[3] - The net profit attributable to shareholders was CNY 2,035,939,946.75, down 19.43% from CNY 2,526,956,989.26 in the previous year[26] - The basic earnings per share decreased to CNY 1.697, representing a decline of 19.42% compared to CNY 2.106 in 2022[26] - The total profit for 2023 was 2.277 billion yuan, a decline of 22.05% year-on-year, with net profit attributable to shareholders at 2.036 billion yuan, down 19.43% year-on-year[69] - The company's main business revenue from coal was 7.299 billion yuan, a decrease of 7.22% year-on-year, contributing to a total operating revenue of 7.786 billion yuan, down 7.24% year-on-year[69] Assets and Liabilities - The total assets as of the end of 2023 were CNY 21,263,422,183.48, a decrease of 3.06% from CNY 21,935,187,650.58 in 2022[26] - The net assets attributable to shareholders were CNY 12,602,201,790.40, down 4.15% from CNY 13,148,077,576.80 in the previous year[26] - By the end of 2023, the company's total assets were 21.263 billion yuan, a decrease of 3.06% from the beginning of the year, and equity attributable to shareholders was 12.602 billion yuan, down 4.15%[69] Cash Flow - The cash flow from operating activities increased by 19.77% to CNY 3,576,968,157.22 compared to CNY 2,986,630,443.65 in 2022[26] - Operating cash flow increased by 19.77% to 3.577 billion CNY, driven by higher sales receipts[41] Dividends and Shareholder Returns - The company proposed a cash dividend of CNY 8.5 per 10 shares, totaling CNY 1,020,004,151.4, with no bonus shares or capital increase planned for this year[17] Research and Development - Research and development expenses rose by 18.17% to 347.89 million CNY, indicating a focus on innovation[41] - Research and development expenses increased to 348 million yuan, up 18.17% year-on-year, primarily due to increased investment in underground natural disaster management[80] Production and Sales - The company produced 9.4394 million tons of raw coal and sold 7.6186 million tons of commercial coal during the year[36] - In 2023, the company's raw coal production reached 9.4394 million tons, an increase of 1.07% year-on-year, while the sales volume of commercial coal was 7.6186 million tons, up 8.19% year-on-year[69] - The total production of mixed coal increased by 5.64%, while sales volume rose by 8.72%[89] Financial Management and Investments - The company has engaged in multiple financial management products with various securities firms, with expected annual returns ranging from 2% to 4%[142] - The company has provided entrusted loans totaling RMB 30,000,000 to its subsidiary, Hengyuan Financing Leasing (Tianjin) Co., Ltd., with a maximum loan term of 3 years[148] Employee Welfare and Compensation - Employee compensation accounted for 62.76% of total costs, reflecting a 10.4% increase compared to the previous year[89] - The company continues to focus on employee welfare and has made significant investments in training and skill competitions[37] Market and Industry Context - The coal industry remains influenced by macroeconomic cycles, with downstream demand primarily from the power, steel, and building materials sectors[66] - The overall coal import volume has significantly increased in 2023, particularly from Mongolia and Australia, contributing to a larger supply in the domestic market[66] Legal and Regulatory Matters - The company is currently involved in a lawsuit regarding a contract dispute, with a claim amount of ¥19.71 million[96] - The company has not reported any major litigation or arbitration matters for the current year[96] Shareholder Information - The largest shareholder, Anhui Wanbei Coal Electricity Group, holds 659,002,489 shares, representing 54.92% of total shares[174] - The total number of ordinary shareholders as of the end of the reporting period is 31,918, an increase from 29,642 at the end of the previous month[172] Strategic Focus - The company’s strategic focus includes market expansion and potential mergers and acquisitions to enhance operational capabilities[56] - The report indicates that there are no new strategies or significant changes in market expansion plans mentioned in the earnings call[178]

（一）立信会计师事务所在审计前与公司董事会、监事会和 高管层进行了必要的沟通，通过对公司内部控制等情况了解后与 公司签订了审计业务约定书，制定了审计计划，并就审计计划与 公司董事会、独立董事进行了沟通。 安徽恒源煤电股份有限公司 对会计师事务所履职情况评估报告 根据安徽恒源煤电股份有限公司（以下简称：公司）2022 年年度股东大会批准意见，由立信会计师事务所（特殊普通合伙） （以下简称：立信会计师事务所）负责公司 2023 年度的审计工 作，主要包括对公司年度经营情况报告（资产负债表、利润表、 股东权益变动表和现金流量表以及财务报表附注）进行审计评价， 同时对公司内部控制进行专项审计，并出具相关报告。 现将立信会计师事务所对公司 2023 年度审计工作履职情况 报告如下： 综上，我们评估确认：立信会计师事务所作为公司 2023 年 度审计机构，在年度审计工作中，遵守职业操守、勤勉尽职，较 好地完成了公司及下属子公司 2023 年度财务报告的审计工作， 并对公司内部控制情况等事项进行了认真核查，出具了标准无保 留的财务审计报告及内部控制审计报告。 安徽恒源煤电股份有限公司 （二）立信会计师事务所于 2023 年 ...

证券代码：600971 证券简称：恒源煤电 公告编号：2024-014 安徽恒源煤电股份有限公司 第八届监事会第四次会议决议公告 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 担个别及连带责任。 安徽恒源煤电股份有限公司（以下简称"公司"）第八届监事会 第四次会议通知于 2024 年 3 月 18 日以电子邮件、电话确认方式发出， 会议于 2024 年 3 月 28 日在公司十二楼会议室召开。会议应到监事 4 人，全体监事出席了会议。会议由公司监事会主席王庆领主持。会议 召开符合《公司法》、《公司章程》和《公司监事会议事规则》的规定。 与会监事经审议表决，一致通过以下决议： 一、审议通过《恒源煤电 2023 年度监事会工作报告》 表决结果：同意 4 票，弃权 0 票，反对 0 票。 表决结果：同意 4 票，弃权 0 票，反对 0 票。 本议案需提交股东大会审议。 本议案需提交股东大会审议。 二、审议通过《恒源煤电 2023 年度利润分配预案》 表决结果：同意 4 票，弃权 0 票，反对 0 票。 本议案需提交股东大会审议。 利润分配预案 ...

安徽恒源煤电股份有限公司董事会 关于独立董事独立性评估专项意见 一、独立董事独立性自查情况 安徽恒源煤电股份有限公司（以下简称"公司"）现有独立 董事 3 人，分别为蔡晓慧女士、王怀芳先生、王帮俊先生。根据 《上市公司独立董事管理办法》第六条的规定，公司独立董事对 自身的独立性情况进行了自查，并将自查情况提交了董事会。自 查结果显示，公司独立董事均符合《上市公司独立董事管理办法》 第六条的独立性要求，不存在直接或者间接利害关系，或者其他 可能影响其进行独立客观判断关系的情形，能够独立履行职责， 不受公司及其主要股东、实际控制人等单位或者个人的影响。 二、董事会对独立董事独立性情况的专项意见 经对公司独立董事独立性核查，发表专项意见如下： （一）公司独立董事及其配偶、父母、子女、主要社会关系 未在公司或者公司附属企业任职； 2024 年 3 月 28 日 （四）公司独立董事及其配偶、父母、子女未在公司控股股 东、实际控制人的附属企业任职； （五）公司独立董事不属于与公司及公司控股股东、实际控 制人或者其各自的附属企业有重大业务往来的人员，或者在有重 大业务往来的单位及其控股股东、实际控制人任职的人员； （六）公 ...

（刘小浩） 2020 年 2 月 12 日，安徽恒源煤电股份有限公司（以下简称 "公司"）召开 2020 年第一次临时股东大会审议通过了《关于 换届推选公司第七届董事会独立董事的议案》，经公司第六届董 事会推荐，选举我和张云起先生、王亮先生、袁敏先生为公司第 七届董事会独立董事。2023 年 4 月 25 日，届满离职。 安徽恒源煤电股份有限公司 2023年度独立董事述职报告 一、基本情况 2023 年任职期间，我严格按照《公司法》、《证劵法》等有 关法律法规、证监会《关于上市公司建立独立董事制度的指导意 见》及《公司章程》、《公司独立董事工作制度》、《公司独立董事 年报工作制度》等公司内部管理制度要求，忠实、勤勉、审慎、 独立地履行职责，关注公司信息，及时了解公司的生产经营、财 务运作等情况，按时出席公司董事会及股东大会会议，对监管要 求的事项进行事先讨论及认可，参与公司重大事项的决策并按要 求发表独立意见，充分发挥独立董事的监督及督促作用，切实维 护公司整体利益以及公司股东特别是中小股东的合法权益不受 损害。现将履行职责情况述职如下： 董事会下设 4 个专门委员会，分别为战略委员会、审计委员会、 提名委员 ...

关于安徽恒源煤电股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 目 录 1、 专项审计报告 2、 附表 委托单位：安徽恒源煤电股份有限公司 审计单位：立信会计师事务所（特殊普通合伙） 联系电话：021-23282801 关于安徽恒源煤电股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项报告 信会师报字[2024]第 ZA10408 号 安徽恒源煤电股份有限公司全体股东： 我们审计了安徽恒源煤电股份有限公司(以下简称"恒源煤电公司")2023 年度的财务报表， 包括 2023 年 12 月 31 日的合并及母公司资产负债表、2023 年度合并及母公司利润表、合并及母 公司现金流量表、合并及母公司所有者权益变动表和相关财务报表附注，并于 2023 年 12 月 31 日 出具了报告号为信会师报字(2024)第 ZA10406 号的无保留意见审计报告。 恒源煤电公司管理层根据中国证券监督管理委员会《上市公司监管指引第 8 号——上市公司 资金往来、对外担保的监管要求》（证监会公告〔2022〕26 号）和《上海证券交易所上市公司自 律监管指南第 2 号——业务办理（2022 年 ...