股票代码：600985 股票简称：淮北矿业 编号：临 2024—067 淮北矿业控股股份有限公司 关于控股股东增持公司股份计划的公告 1 占公司总股本的 59.52%；一致行动人国元证券－淮北矿业（集团）有限责任公司 －国元证券淮矿创新单一资产管理计划持有公司股份 26,320,000 股，占公司总股 本的 0.98%。 本公司董事会、全体董事及相关股东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： 增持计划：淮北矿业控股股份有限公司（下称"公司"）控股股东淮北矿 业（集团）有限责任公司（下称"淮北矿业集团"）计划自 2024 年 12 月 6 日起 6 个月内，通过上海证券交易所交易系统以集中竞价方式增持公司股份，本次增 持总金额为 3 亿元至 5 亿元人民币（含本数，下称"本次增持计划"）。 本次增持计划不设定价格区间，增持主体将基于对公司股票价值的合理判 断，并根据公司股票价格波动情况及二级市场整体趋势，择机实施增持计划。 相关风险提示：本次增持计划可能存在因资本市场情况发生变化或目前无 法预判的其他风险因素导致增持计划的实施 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 18.82 CNY per share based on a 9x PE for 2025 [5][2]. Core Insights - The company's Q3 performance showed a sequential decline of 11%, primarily due to a drop in both volume and price of commodity coal. The net profit attributable to shareholders for the first three quarters was 4.14 billion CNY, a year-on-year decrease of 18.2% [1][2]. - The company is a leading coking coal producer in East China, with a high proportion of long-term coal sales contracts, indicating strong earnings stability. The anticipated completion of the 8 million ton Tuhutu coal mine is expected to increase coal production capacity by over 30% compared to 2023 [2][5]. - The company has successfully achieved production capacity for its 600,000-ton anhydrous ethanol project in Q3, with several other projects in coal, chemicals, and power generation expected to be completed and operational in the next two years [1][2]. Financial Summary - For 2023, the company reported a revenue of 73.592 billion CNY, with a year-on-year growth rate of 6.3%. However, the forecast for 2024 indicates a revenue decline of 9.3% to 66.740 billion CNY [3]. - The net profit attributable to shareholders for 2023 is projected at 6.225 billion CNY, reflecting an 11.2% decrease from the previous year. The EPS for 2024 is expected to be 1.94 CNY, with a gradual increase to 2.24 CNY by 2026 [3][2]. - The company's EBITDA for 2023 is estimated at 11.960 billion CNY, with a forecasted decline to 10.923 billion CNY in 2024 [3]. Production and Sales Data - In Q3, the company produced 5.35 million tons of commodity coal, a year-on-year decrease of 1% but a sequential increase of 5%. The coal sales volume was 3.85 million tons, down 3% year-on-year and 4% sequentially [1]. - The average revenue per ton of coal was 1,053 CNY, reflecting a 3% year-on-year increase but a 5% sequential decline. The cost per ton was 541 CNY, up 6% year-on-year and 1% sequentially [1]. Future Outlook - The company expects to benefit from the resumption of production at the Xinhu Mine next year, which is anticipated to contribute additional output. The average price of coking coal in Q4 has stabilized after a reduction in September [1][2].

国元证券股份有限公司 关于淮北矿业控股股份有限公司 使用募集资金相关债权向全资子公司增资的核查意见 国元证券股份有限公司（以下简称"国元证券"或"保荐机构"）作为淮北 矿业控股股份有限公司（以下简称"公司"、"上市公司"或"淮北矿业"）公 开发行可转换公司债券的保荐机构，根据《上海证券交易所股票上市规则》《上 市公司监管指引第2号——上市公司募集资金管理和使用的监管要求》等有关规 定，对公司使用可转债募集资金相关债权向全资子公司增资事项进行了审慎核 查，核查具体情况如下： 一、募集资金基本情况 （一）2019 年公开发行可转债募集资金情况 经中国证监会证监许可〔2019〕2269 号文核准，公司于 2019 年 12 月向社 会公开发行 2,757.40 万张可转债，募集资金总额 275,740.00 万元，扣除发行费用 后，募集资金净额 273,786.63 万元，公司将募集资金通过借款方式提供给淮北矿 业股份有限公司（下称"淮矿股份"）使用，其中淮矿股份购置智能化采煤工作 面设备 48,500.00 万元，偿还债务 67,986.63 万元，其余 157,300.00 万元用于其全 资子公司安徽碳鑫科技有 ...

股票代码：600985 股票简称：淮北矿业 编号：临 2024—065 经中国证监会证监许可〔2019〕2269 号文核准，公司于 2019 年 12 月向社 会公开发行 2,757.4 万张可转债，募集资金总额 275,740.00 万元，扣除发行费 用后，募集资金净额 273,786.63 万元，公司将募集资金通过借款方式提供给淮 矿股份使用，其中淮矿股份购置智能化采煤工作面设备 48,500.00 万元，偿还债 务 67,986.63 万元，其余 157,300.00 万元用于其全资子公司安徽碳鑫科技有限 公司（下称"碳鑫科技"）实施焦炉煤气综合利用项目。上述借款期限为自实际 1 借款之日起 5 年，借款利率参照公司发行的可转债平均利率。截至 2022 年 9 月， 上述募投项目均已实施完毕。 淮北矿业控股股份有限公司 关于使用可转债募集资金相关债权向全资子公司 增资的公告 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： 增资标的名称：淮北矿业股份有限公司（下称"淮矿股份"） 增资方式及金额：淮北矿业控股 ...

股票代码：600985 股票简称：淮北矿业 编号：临 2024—064 淮北矿业控股股份有限公司 第十届董事会第三次会议决议公告 二、关于授权经理层开展市场化竞买煤炭资源的议案 同意公司董事会在决策权限内授权经理层办理"连续 12 个月内通过市场化 竞买煤炭资源不超过公司最近一期经审计总资产 30%或净资产 50%以下事项，以 及为市场化竞买煤炭资源需提前支付的保证金、开具保函、签署相关协议等事宜"。 1 授权期限自本次董事会审议通过之日起一年。本议案已经公司第十届董事会战略 委员会 2024 年第一次会议审议通过。 表决结果：10 票赞成，0 票反对，0 票弃权。 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。 淮北矿业控股股份有限公司（下称"公司"）于 2024 年 10 月 29 日以电子邮 件方式发出召开第十届董事会第三次会议的通知，会议于 2024 年 11 月 8 日以现 场结合通讯方式召开，应参会董事 10 人，实参会董事 10 人。会议的召开符合《公 司法》和《公司章程》的有关规定。会议审议通过了以下事项： 一 ...

股票代码：600985 股票简称：淮北矿业 编号：临 2024—066 鉴于煤炭资源招拍挂和公司参与竞拍、竞拍结果的不确定性，公司将根据煤 炭资源竞拍工作后续进展情况及时履行信息披露义务，敬请广大投资者注意投资 风险。 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。 淮北矿业控股股份有限公司（下称"公司"）于 2024 年 11 月 8 日以现场结 合通讯方式召开第十届董事会第三次会议，审议并通过了《关于授权经理层开展 市场化竞买煤炭资源的的议案》，具体情况如下： 根据公司发展战略安排，为增加煤炭资源后续储备，增强煤炭主业发展后劲, 提升公司核心竞争力和可持续发展能力，同时为提高公司决策效率和保守商业秘 密，公司董事会拟在决策权限内授权经理层负责办理市场化竞买煤炭资源事宜。 根据中国证监会、上海证券交易所监管规范性文件以及《公司章程》的相关规定， 公司董事会拟在决策权限内授权经理层办理"连续 12 个月内通过市场化竞买煤 炭资源不超过公司最近一期经审计总资产 30%或净资产 50%以下事项，以及为市 场化竞买煤炭资源需提前支付 ...

淮北矿业控股股份有限公司投资者关系活动记录表 证券代码：600985 证券简称：淮北矿业 | --- | --- | --- | |-----------------|--------------------------|-----------------------------------------------------------------| | | □ | 特定对象调研 □分析师会议 | | 投资者关系 | □ 媒体采访 | 业绩说明会 | | 活动类别 | □ | 新闻发布会 □路演活动 | | | □ | 现场参观 □其他（请文字说明其他活动内容） | | 参与单位名称 | 线上投资者 | | | 及人员姓名 时间 | 2024 年 11 月 | 6 日(星期三)上午 9:00-10:00 | | | | | | 地点 | roadshow.sseinfo.com/ | 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http:// ） | | 方式 | 上证路演中心网络文字互动 | | | 上市公司接待 | | 董事长孙方先生、财务负责人兼董事会秘书邱丹先生、独立董事 | ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][6][8] Core Views - The report highlights that the company's coal chemical sales have increased quarter-on-quarter, with ethanol gradually contributing to performance growth [1][5] - The company achieved a total operating revenue of 566.69 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 2.04%, while net profit attributable to shareholders decreased by 18.17% [3][4] - The report emphasizes strong cost control capabilities in the coal business, with a slight decline in gross profit per ton year-on-year [4][5] Summary by Sections Financial Performance - In Q3 2024, the company reported total operating revenue of 194.3 billion yuan, a year-on-year increase of 6.55%, while net profit attributable to shareholders was 12.04 billion yuan, down 18.12% year-on-year [3][4] - For the first three quarters, the company produced 1,567.04 million tons of commodity coal, a decrease of 6% year-on-year, with sales of 1,187.83 million tons, down 14% year-on-year [4][5] Coal Business - The company’s coal production in Q3 2024 was 534.7 million tons, a year-on-year decrease of 1% but an increase of 5% quarter-on-quarter [4][5] - The average selling price of coal was 1,052.7 yuan per ton, up 3% year-on-year but down 5% quarter-on-quarter, with a gross profit margin of 48.6% [4][5] Chemical Products - In Q3 2024, the company produced 95.4 million tons of coke, down 4% year-on-year but up 16% quarter-on-quarter, with sales revenue of 16.4 billion yuan [5] - Ethanol production reached 14.8 million tons in Q3, with sales revenue of 7.56 billion yuan, indicating a growing contribution from the ethanol project [5][6] Earnings Forecast and Valuation - The company is expected to achieve operating revenues of 705.2 billion yuan, 739.0 billion yuan, and 784.5 billion yuan for 2024, 2025, and 2026 respectively, with net profits of 51.9 billion yuan, 56.4 billion yuan, and 65.6 billion yuan [6][8] - The report projects EPS of 1.93 yuan, 2.10 yuan, and 2.43 yuan for the same years, with corresponding P/E ratios of 8, 7, and 6 [6][8]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% relative to the industry index in the next six months [12]. Core Views - The company is a major coking coal enterprise in East China with rich resource reserves and excellent coal quality, benefiting from a favorable location [4]. - The company is deepening its business layout and continuously promoting the integration of the coal and coal chemical industry chain [4]. - Ongoing projects are progressing steadily, indicating potential for capacity growth [4]. - The company is expected to achieve operating revenues of 72.87 billion, 74.38 billion, and 75.98 billion yuan from 2024 to 2026, with net profits of 5.26 billion, 5.76 billion, and 6.20 billion yuan respectively [4]. Financial Performance Summary - For the first nine months of 2024, the company's coal business sales revenue was 13.24 billion yuan, a year-on-year decrease of 19.96% [2]. - The company's coal production for the first nine months of 2024 was 15.67 million tons, a year-on-year decrease of 6.43%, while sales volume was 11.88 million tons, down 13.90% year-on-year [2]. - The average selling price of coal in the third quarter was 1,115 yuan per ton, a year-on-year decrease of 7.03% [2]. - The gross profit per ton of coal was 559 yuan, a year-on-year decrease of 2.93% [2]. Key Financial Metrics - The company's operating income for 2023 is projected at 73.39 billion yuan, with a net profit of 6.23 billion yuan [5]. - The company's return on equity (ROE) is expected to decline from 14.3% in 2023 to 12.0% in 2024 [7]. - The earnings per share (EPS) for 2024 is projected to be 1.95 yuan, with a price-to-earnings (P/E) ratio of 7.9x [4][6].

Investment Rating - The investment rating for Huabei Mining (600985) is "Outperform the Market" and is maintained [2] Core Views - The report highlights that the coal business is operating steadily, while there are expectations for marginal improvements in the chemical segment. The third quarter of 2024 saw a net profit attributable to the parent company of 1.2 billion yuan, reflecting a year-on-year decrease of 18% and a quarter-on-quarter decrease of 11% [5][6] - The company plans to absorb and merge its wholly-owned subsidiary, Qingdong Coal Industry, which is expected to enhance operational efficiency and improve overall performance [7] Summary by Sections Financial Performance - In Q3 2024, the company achieved a net profit of 1.2 billion yuan, with total revenue for the first three quarters reaching 56.67 billion yuan, a year-on-year increase of 2% but a net profit decrease of 18.2% [5] - The coal production and sales volume for the first three quarters were 15.67 million tons and 11.88 million tons, respectively, showing a year-on-year decrease of 6.4% and 13.9% [6] - The average selling price of coal in Q3 was 1,053 yuan per ton, down 7% year-on-year, while the unit cost was 541 yuan per ton, reflecting a slight increase [6] Business Segments - The report indicates that the coking and methanol production saw a recovery in Q3, with methanol production volume increasing by 16.1% year-on-year [7] - The ethanol project is expected to contribute to profits, with a production volume of 224,000 tons and an average selling price of 5,223 yuan per ton [7] Earnings Forecast and Valuation - The forecast for net profit attributable to the parent company for 2024-2026 is 5.14 billion, 7.18 billion, and 7.92 billion yuan, respectively, with corresponding EPS of 1.91, 2.66, and 2.94 yuan [7][12] - The report assigns a PE ratio of 9-11 times for 2024, suggesting a reasonable value range of 17.17 to 20.98 yuan per share [7]