淮北矿业控股股份有限公司 关于续签日常关联交易框架协议的公告 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： 2025 年 3 月 26 日，淮北矿业控股股份有限公司（下称"公司"）与淮北 矿业（集团）有限责任公司（下称"淮北矿业集团"）续签了《房屋租赁框架协 议》《土地使用权租赁框架协议》《煤炭销售框架协议》《物资购销框架协议》及 《综合服务框架协议》（上述协议统称为"日常关联交易框架协议"）。 本事项尚需提交公司股东大会审议。 股票代码：600985 股票简称：淮北矿业 编号：临 2025—010 此项关联交易不影响公司的独立性，公司的主要业务不会因此类交易而 对关联人形成依赖。 一、日常关联交易的基本情况 （一）日常关联交易概述 经公司第九届董事会第七次会议和 2021 年年度股东大会审议通过，公司与 淮北矿业集团签定了日常关联交易框架协议，协议有效期为三年，目前即将期满。 为满足公司日常生产经营需要，进一步规范公司与淮北矿业集团之间发生的房 屋、土地使用权租赁，物资采购及销售，工业用水供应、工程建设施工 ...

二、审计委员会 2024 年度会议召开情况 根据《公司董事会审计委员会工作细则》等相关规定和要求，2024 年度董 事会审计委员会认真履行审计监督职责，对审议的相关事项发表客观意见，充分 发挥了专门委员会作用。现将 2024 年度履职情况汇报如下： 淮北矿业控股股份有限公司 董事会审计委员会 2024 年度履职情况报告 一、审计委员会基本情况 公司第九届董事会审计委员会共五位委员，原委员黄国良、刘志迎于 2024 年 4 月 26 日辞任公司董事及相关专门委员会职务，公司补选姚圣、王敏、李桂 臣为独立董事，并相应调整审计委员会成员。变更后的审计委员会由董事周四新， 独立董事裴仁彦、姚圣、王敏、李桂臣 5 名委员组成，其中主任委员由具有会计 专业资格的独立董事姚圣担任，全部成员均具有能够胜任审计委员会工作职责的 专业知识和能力。2024 年 9 月 26 日，公司董事会实施了换届选举，换届后第十 届董事会审计委员会仍由前述人员担任。 2024 年度，董事会审计委员会共召开了 7 次会议，全体委员亲自出席会议， 具体情况如下： （一）2024 年 1 月 2 日，第九届董事会审计委员会召开 2024 年度第一次会 ...

股票代码：600985 股票简称：淮北矿业 编号：临 2025—011 淮北矿业控股股份有限公司 关于财务公司与淮北矿业集团签署《金融服务协议》 暨关联交易的公告 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个别及连带责任。 重要内容提示： 关联交易内容：公司控股子公司淮北矿业集团财务有限公司（下称"财 务公司"）拟与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"）签署《金融服务协议》，向淮北矿业集团及其下属成员单位（不含本公司 及其合并报表范围内的下属公司、安徽华塑股份有限公司及其合并报表范围内的 下属公司，下同）提供相关金融服务。 该关联交易事项已经公司第十届董事会第四次会议审议通过，关联董事 回避表决。该关联交易事项尚需提交公司股东大会审议。 本金融服务协议按一般商业条款订立，遵循平等自愿的原则，定价公允 合理，不会损害公司及全体股东的利益，不会对控股股东形成依赖。 一、关联交易概述 为加强成员单位资金集中管理，拓宽融资渠道，提高资金使用效率和效益， 经公司 2021 年年度股东大会审议通过，财务公司与公司控股 ...

重要内容提示： 股票代码：600985 股票简称：淮北矿业 编号：临 2025—009 淮北矿业控股股份有限公司 关于 2025 年度日常关联交易预计的公告 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。 公司 2024 年度与关联方实际发生的购销、服务类日常关联交易总额为 239,139.33 万元，具体如下： 本事项已经公司第十届董事会第四次会议审议通过，尚需提交公司股东 大会审议。 日常关联交易为公司正常生产经营所需，关联交易定价公允，不存在损 害本公司及非关联股东利益的情形，不会对公司持续经营能力造成影响，也不会 对公司独立性构成影响。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 2025 年 3 月 25 日，公司独立董事召开第十届董事会独立董事专门会议 2025 年第一次会议，经全体独立董事一致同意，审议通过《关于 2025 年度日常关联 交易预计的议案》，同意公司 2025 年度日常关联交易预计事项，并对 2025 年初 至 3 月 20 日与关联方已发生的日常关联交易金额进行确认。独立董事专门会 ...

淮北矿业控股股份有限公司 关于财务公司2024年度为关联方提供金融服务的持 续风险评估报告 淮北矿业集团财务有限公司（下称"财务公司"）为淮北矿业控股股份有 限公司（下称"公司"）控股子公司，是一家为成员单位提供金融服务的非银 行金融机构。根据《上海证券交易所上市公司自律监管指引第5号—交易与关联 交易》和《企业集团财务公司管理办法》的要求，公司对下属财务公司为淮北 矿业（集团）有限责任公司（下称"淮北矿业集团"）及其下属成员单位（不 含本公司及其合并报表范围内的下属公司）等关联方提供存款、贷款等金融服 务进行风险评估，具体情况报告如下： 一、财务公司基本情况 财务公司成立于2014年4月16日，是经原中国银监会安徽监管局批准成立的 非银行金融机构。 公司名称：淮北矿业集团财务有限公司 注册地址：安徽省淮北市相山区人民中路276号 法定代表人：殷召峰 经营范围：吸收成员单位存款；办理成员单位贷款；办理成员单位票据贴 现；办理成员单位资金结算与收付；提供成员单位委托贷款、债券承销、非融 资性保函、财务顾问、信用鉴证及咨询代理业务；从事同业拆借；办理成员单 位票据承兑；从事固定收益类有价证券投资；国家金融监督管理 ...

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 1.8400 | 2.5100 | -26.69 | 2.8300 | | 每股净资产（元） | 15.74 | 14.95 | 5.28 | 13.37 | | 每股公积金(元) | 4.13 | 3.31 | 24.77 | 3.36 | | 每股未分配利润(元) | 9.23 | 9.24 | -0.11 | 7.91 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 658.75 | 735.92 | -10.49 | 692.25 | | 净利润(亿元) | 48.55 | 62.25 | -22.01 | 70.11 | | 净资产收益率(%) | 11.95 | 17.62 | -32.18 | 23.11 | 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 184624.16万股，累计占流通股比： 68.56%，较上 ...

Core Viewpoints - The coal sector has experienced a high-level retreat in the first two months of 2025, underperforming the market by 11.8 percentage points, ranking last among all industry indices [4][14]. - The coal price is expected to stabilize and gradually recover due to improved industrial demand, slowing production growth, and reduced import expectations [4][29]. Group 1: Coal Sector Review - In the first two months of 2025, the coal sector has declined by 10.0%, ranking 30th out of 30 in the industry indices [4][14]. - The sub-sectors of thermal coal, coking coal, and coke have seen respective declines of 15.5%, 11.4%, and 7.4% in the first two months [14]. - As of March 18, 2025, the coal sector's price-to-earnings (PE) ratio is at 10.4 times, which is at a historical average level, while the price-to-book (PB) ratio is at 1.33 times, also at a historical average [19][23]. Group 2: Coal Market Review - The growth rate of electricity consumption has dropped to 1.3% in the first two months, while non-electric demand has shown overall improvement [4][29]. - Domestic coal prices have been weak since the beginning of the year, with thermal coal prices stabilizing in March [29]. - The import growth rate of coal has decreased to 1.8% in the first two months of 2025 [4][29]. Group 3: Recent Market Dynamics - Port thermal coal prices have slightly declined, while prices in production areas have generally rebounded [4][29]. - The price of thermal coal is expected to stabilize in the short term due to inventory reductions at southern ports and coastal power plants [4][29]. - Coking coal prices have continued to decline, but demand is expected to improve as the spring construction season approaches [4][29]. Group 4: Industry Outlook - The coal price is expected to find support at the bottom, with the sector's valuation and dividend advantages becoming more pronounced [4][29]. - The anticipated average coal price for 2025 may decline, but leading companies are expected to maintain stable profitability due to effective cost control [4][29]. - Key companies with robust dividends include Shaanxi Coal and China Shenhua, while companies with lower valuations and long-term growth potential include Xinji Energy and Yanzhou Coal [4][29].

Investment Rating - The report maintains a "Recommended" investment rating for the coal industry [1]. Core Viewpoints - The coal prices in production areas are recovering, and there is anticipation for a rebound in non-electricity demand [1]. - The report highlights a seasonal decline in daily consumption of thermal coal [6]. - Coking coal and coke prices are under downward pressure [20]. - Steel production remains stable, but downstream steel prices are continuously declining [25]. - Futures prices for coking coal have slightly rebounded, and the price spread between coking coal and coke has narrowed [29]. - Shipping rates for both sea and land transport continue to rise [32]. Weekly Data Tracking - **Thermal Coal**: Production area coal prices are recovering, with a seasonal drop in daily consumption [6]. - **Coking Coal and Coke**: Prices are under pressure, with specific price data indicating fluctuations [20]. - **Downstream Changes**: Steel production is stable, but steel prices are declining [25]. - **Futures**: Coking coal futures prices have seen a slight increase, with a narrowing price gap [29]. - **Transportation**: Both sea and land shipping rates are on the rise [32]. Weekly Market Review (March 10-14, 2025) - The Shanghai Composite Index increased by 1.39%, while the coal sector (CITIC) rose by 4.97% [34]. - Notable stock performances include Daya Energy (+33.57%) and Meijin Energy (+17.51%) [34]. Weekly Insights (March 9-15, 2025) - The report provides a detailed analysis of various coal companies, including their ratings, closing prices, and weekly performance [37]. - For instance, Shaanxi Coal and Chemical Industry is rated "Buy" with a closing price of 20.20 and a weekly increase of 6.82% [37]. - China Shenhua is rated "Increase" with a closing price of 37.17 and a weekly increase of 3.57% [37]. - Other companies such as Yancoal and Huai Bei Mining also show positive weekly performance [37].

Investment Rating - The report maintains an "Overweight" rating for the coal industry [2]. Core Views - Short-term stabilization of coal prices is expected, with opportunities for investment in undervalued stocks [7][10]. - The coal market is showing signs of recovery due to supply tightening and increased demand from industrial sectors [7]. - The report emphasizes the importance of value investing in leading companies within the coal sector, particularly those with integrated operations [10]. Summary by Sections 1. Core Views and Business Tracking - The report highlights the importance of dividend policies and growth prospects for key companies in the coal sector [15]. - It tracks the operational performance of listed companies, noting fluctuations in production and sales figures [17]. 2. Coal Price Tracking - Coal prices are being monitored closely, with specific attention to both domestic and international price movements [11]. - The report indicates that the average price of thermal coal at the port has seen a slight decrease, while demand has shown signs of recovery [7][10]. 3. Coal Inventory Tracking - The report provides insights into production levels and inventory status for both thermal and coking coal [11]. - It notes that the average daily production of thermal coal from sample mines is approximately 5.7 million tons, with a slight week-on-week decrease [10]. 4. Downstream Performance of the Coal Industry - The report discusses the consumption patterns of coal in downstream industries, particularly in power generation and steel production [11]. - It highlights the recovery in coal consumption as industrial operations ramp up during the "golden three silver four" period [7]. 5. Performance of the Coal Sector and Individual Stocks - The report analyzes the performance of the coal sector, noting a 0.4% increase week-on-week [11]. - It provides a detailed performance overview of key coal companies, emphasizing their earnings forecasts and market positioning [17].