股票代码：600985 股票简称：淮北矿业 编号：临 2025—003 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进展公告 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"）。 增持计划的实施进展：2024 年 12 月 6 日至 2025 年 1 月 23 日期间，淮北 矿业集团通过上海证券交易所交易系统以集中竞价方式累计增持公司 A 股股份 11,241,011 股，增持金额 154,459,797.19 元（不含手续费），超过本次增持计 划金额下限的 50%。 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无法达到预期的风险。增持计划 ...

Investment Rating - Buy (Maintained) [2] Core Views - The company's controlling shareholder, Huaibei Mining Group, plans to increase its shareholding by RMB 300-500 million within 6 months, demonstrating confidence in the company's future development [5][6] - The company is a leading coking coal producer in East China, with over 70% of its reserves being high-quality coking coal and fat coal [7] - The Taohutu coal mine, currently under construction, is expected to contribute significant profits upon completion, with an estimated annual profit of RMB 1.671 billion [7] - The ethanol project has entered the harvest period, with a production capacity of 600,000 tons/year, making it the largest single-series production facility globally [8] - The company's revenue is expected to grow steadily, with projected revenues of RMB 74.8 billion, RMB 79.8 billion, and RMB 85.3 billion for 2024-2026, respectively [8] Financial Performance and Projections - The company's net profit is expected to be RMB 5.006 billion, RMB 5.250 billion, and RMB 5.756 billion for 2024-2026, respectively [8] - The PE ratios for 2024-2026 are projected to be 7.73x, 7.37x, and 6.72x, respectively [8] - The company's gross margin is expected to remain stable, with projections of 16.9%, 17.0%, and 17.3% for 2024-2026, respectively [10] - The company's ROE is expected to be 12.4%, 11.9%, and 12.0% for 2024-2026, respectively [10] Industry and Market Position - The company is a major coal producer in East China, with 17 coal production mines and a total approved production capacity of 35.85 million tons [7] - The company's coal reserves are characterized by low sulfur, very low phosphorus, medium volatility, strong cohesiveness, and good coking properties [7] - The company's ethanol project is the largest single-series production facility globally, with a capacity of 600,000 tons/year [8] Growth Drivers - The Taohutu coal mine, expected to be completed by the end of 2025, will add an annual production capacity of 8 million tons of high-calorific value thermal coal [7] - The company is accelerating the construction of 5 non-coal mines, which are expected to be completed by the end of 2024 [8] - The company is also expanding its chemical business, with projects including 100,000 tons of dimethyl carbonate, 30,000 tons of carbonate esters, and 30,000 tons of ethylamine under construction [8]

股票代码：600985 股票简称：淮北矿业 编号：临 2024—068 淮北矿业控股股份有限公司 关于控股股东首次增持公司股份暨增持计划进展的公告 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： 首次增持情况：淮北矿业控股股份有限公司（以下简称"公司"）控股股 东淮北矿业（集团）有限责任公司（以下简称"淮北矿业集团"）于 2024 年 12 月 13 日，通过集中竞价方式增持了公司 A 股股份 2,294,000 股，约占公司总股本 的 0.09%，成交总额为 33,475,083.92 元（不含手续费）。 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无法达到预期的风险。增持计划实施 过程中如出现上述风险情形，公司将及时履行信息披露义务。 2024 年 12 月 13 日，淮北矿业集团通过上海证券交易所以集中竞价方式增持 公司 A 股股份 2,294,000 股，约占公司总股本的 0.09%，成交总额为 33,475,083.92 元（不含手 ...

Group 1 - Huabei Shuo Yuan New Energy Co., Ltd. has been established with a registered capital of 150 million yuan [1] - The legal representative of the company is Wu Xiaodong [1] - The business scope includes power generation, transmission, distribution, wind power technology services, solar power technology services, and heat production and supply [1] Group 2 - The company is jointly held by Huabei Mining Co., Ltd. and Huabei Tianhui Group Co., Ltd. [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its performance in the market [7][9]. Core Insights - The controlling shareholder, Huabei Mining Group, plans to increase its stake in the company by investing between 300 million to 500 million RMB over the next six months, reflecting confidence in the company's long-term development [7]. - The company is recognized as a high-quality coking coal producer in East China, with a significant competitive advantage due to its coal quality and proximity to consumers [8]. - The company has a projected revenue growth from new projects, including a coal mine and a power plant, which are expected to contribute significantly to future profits [8][9]. Financial Summary - As of September 30, 2024, the company reported a net asset value per share of 15.52 RMB and a debt-to-asset ratio of 48.09% [4]. - The company’s total revenue for 2023 is projected at 73,592 million RMB, with a slight decline expected in 2024 [10]. - The earnings per share (EPS) for 2024 is estimated to be 1.95 RMB, with a dividend payout expected to maintain a high yield of approximately 6.8% [9][10]. Production Capacity and Projects - The company has a certified production capacity of 35.85 million tons per year, with a focus on maintaining a high coal yield [8]. - New projects, including the Tao Hutou coal mine and a 2*66 MW power plant, are expected to be operational by the end of 2025, contributing significantly to revenue and profit margins [8][9]. Dividend Policy - The company has consistently increased its dividend payouts, with a projected dividend amount of 26.93 billion RMB for 2024, reflecting a commitment to returning value to shareholders [9].

Summary of Conference Call Records Company/Industry Involved - The conference call primarily discusses the coal industry, focusing on coking coal and its market dynamics. Key Points and Arguments Market Dynamics and Production - The company anticipates a stable production level for the upcoming year, predicting around 1 million tons of coking coal to be available, contingent on operational timelines [2][9] - The overall coal production in China is expected to slightly decline this year, with a consensus on the supply-demand balance being maintained [7][9] - The company is actively participating in coal resource auctions, particularly in regions like Shanxi, but is cautious about high resource prices [3][4] Pricing Trends - Coal prices experienced fluctuations throughout the year, with a notable increase in Q1 followed by decreases in Q2 and Q3, stabilizing in Q4 at approximately 1890 [6][30] - The pricing strategy involves a cycle of price increases and decreases, with recent prices being lower than the previous year's levels [6][30] Supply Chain and Resource Acquisition - The company is exploring overseas resource acquisition but faces challenges related to financing and political factors [5] - Domestic coal supply is under scrutiny, with concerns about transportation issues in regions like Xinjiang affecting overall availability [4][15] Demand and Consumption - The demand for coking coal is closely tied to the steel industry, with expectations of stable consumption despite potential uncertainties in steel production [9][10][17] - The company notes that the demand from downstream industries, particularly steel and shipbuilding, remains healthy, contributing to a stable outlook for coal consumption [19][20] Regulatory and Safety Considerations - Recent safety inspections following mining accidents have led to stricter regulations, but the company reports minimal impact on its production levels [21] - The company is adapting to regulatory changes while maintaining operational efficiency [21] Future Outlook - The overall sentiment is cautiously optimistic, with expectations of continued demand growth in the coal sector, particularly for coking coal, despite potential external economic pressures [10][17] - The company is focused on cost management strategies to enhance profitability amid fluctuating market conditions [34][35] Additional Insights - The company is leveraging technological advancements in mining to improve efficiency and reduce costs over time [34][36] - There is a recognition of the complexities in the coal market, including international supply limitations and domestic production challenges [15][16] This summary encapsulates the key discussions and insights from the conference call, highlighting the company's strategic positioning within the coal industry and its response to market dynamics.

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—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 ...