证券代码：600989 证券简称：宝丰能源 公告编号：2024-020 宁夏宝丰能源集团股份有限公司 2024 年第二次临时股东大会决议公告 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： 本次会议是否有否决议案：无 本次股东大会由公司董事会召集，采取现场记名投票和网络投票相结合的方 式进行表决，现场会议经公司半数以上董事共同推举由公司董事卢军先生主持。 本次会议的召集、召开和表决程序符合《公司法》及《公司章程》等相关法律、 (一) 股东大会召开的时间：2024 年 3 月 29 日 (二) 股东大会召开的地点：宁夏银川市丽景北街 1 号 四楼会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 法规的规定，本次会议决议合法、有效。 二、 议案审议情况 (一) 非累积投票议案 1、 议案名称：关于《公司 2024 年员工持股计划（草案）》及其摘要的议案 审议结果：通过 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | | 276 | | --- | --- | --- ...

北京市嘉源律师事务所 关于宁夏宝丰能源集团股份有限公司 2024 年第二次临时股东大会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国 ·北京 嘉 源 律师事务所 IIA YUAN LAW OFFICES 北京 BEIJING · 上海 SHANGHAI · 深圳 SHENZHEN · 香港 HONG KONG · 广州 GUANGZHOU · 西安 XI'AN 致:宁夏宝丰能源集团股份有限公司 北京市嘉源律师事务所 关于宁夏宝丰能源集团股份有限公司 2024 年第二次临时股东大会的法律意见书 嘉源(2024)-04-196 敬启者: 根据《中华人民共和国公司法》(以下简称《公司法》)、《中华人民共和 国证券法》(以下简称《证券法》)、中国证券监督管理委员会颁布的《上市公 司股东大会规则(2022年修订)》(以下简称《股东大会规则》)等法律、行 政法规、部门规章、规范性文件和《宁夏宝丰能源集团股份有限公司章程》(以 下简称《公司章程》)的规定,北京市嘉源律师事务所(以下简称"本所")作 为宁夏宝丰能源集团股份有限公司(以下简称"公司")的常年法律顾问,本所 律师出席了公司 2024年第二次 ...

证券简称：宝丰能源 证券代码：600989 2024 宁夏宝丰能源集团股份有限公司 2024 年员工持股计划（草案） 本公司及董事会、监事会全体成员保证本员工持股计划及其摘要不存在虚假 记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担法律责任。 1 宁夏宝丰能源集团股份有限公司 2024 年员工持股计划（草案） 一、本员工持股计划须经公司股东大会审议通过后方可实施，本员工持股计 划能否获得公司股东大会批准，存在不确定性。 二、有关本员工持股计划的具体资金来源、出资金额、实施方案等属初步结 果，能否完成实施，存在不确定性。 三、若员工认购资金较低，则本员工持股计划存在不能成立的风险；若员工 认购资金不足，本员工持股计划存在低于预计规模的风险。 四、公司后续将根据规定披露相关进展情况，敬请广大投资者谨慎决策，注 意投资风险。 2 宁夏宝丰能源集团股份有限公司 2024 年员工持股计划（草案） 六、本员工持股计划实施后，公司全部有效的员工持股计划所持有的股票总 数累计不超过公司总股本的10%，单个员工所持员工持股计划份额所对应的股票 3 宁夏宝丰能源集团股份有限公司 2024 年员工持股计划（草案） 一 ...

公 司 研 证券研究报告 究 ＃industryId＃ 煤化工 ＃investSuggestion＃ ＃ ＃d 宝yCo 丰mp 能any＃源 （ 600989 ） investSug 买入 ( 维ges持tion ）Ch 600989 ＃title＃ 新产能投放助力业绩环比提升，产能持续扩张未来可期 ange＃ ＃ createTime1＃ 2024年 03月 25 日 公 ＃市场ma数rk据et Data＃ 投资要点 司 ＃ ⚫s um 事ma 件ry＃ 市场数据日期 2024-03-22 ： 宝丰能源发布2023年年报，报告期内公司实现营业收入291.36亿 点 收盘价（元） 15.72 元，同比增长2.48%；实现归母净利润56.51亿元，同比下滑10.34%，实 评 总股本（百万股） 7333.36 现扣非归母净利润59.49亿元，同比下滑11.46%。 报 流通股本（百万股） 7333.36 其中2023Q4单季度实现营业收入87.35亿元，同比增长25.77%，环比增 净资产（百万元） 38536.7 告 总资产（百万元） 71630.3 长19.48%；实现归母净利润17.6亿元，同比增长89 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company achieved a revenue of 29.14 billion yuan in 2023, a year-on-year increase of 2.5%, while the net profit attributable to shareholders decreased by 10.3% to 5.65 billion yuan. In Q4 2023, revenue reached 8.74 billion yuan, up 25.8% year-on-year and 19.5% quarter-on-quarter, with a net profit of 1.76 billion yuan, marking a significant year-on-year increase of 89.3% [4][5] - The company is enhancing its high-end coal-based new materials industry chain and increasing its investment in product technology innovation. The Ningdong Phase III project has been completed and is expected to significantly boost production capacity [6] - The major shareholder plans to increase its stake in the company, reflecting confidence in its future development. An employee stock ownership plan has also been introduced to align employee interests with company performance [6] Summary by Sections Financial Performance - In 2023, the company reported a total revenue of 29.14 billion yuan, with a net profit of 5.65 billion yuan. The Q4 performance showed a revenue of 8.74 billion yuan and a net profit of 1.76 billion yuan, indicating strong growth [4][5] - The company’s earnings per share (EPS) for 2024-2026 are projected to be 1.20, 1.89, and 2.04 yuan respectively, with net profits expected to reach 8.83 billion, 13.88 billion, and 14.97 billion yuan [7][8] Production Capacity and Projects - The Ningdong Phase III project has been launched, adding 1.5 million tons of methanol and 1 million tons of olefins capacity, which is expected to increase polyethylene and polypropylene production capacity by 75% [6] - The Inner Mongolia project is progressing well, with construction over halfway completed in 2023 [6] Shareholder Returns - The company has consistently paid cash dividends since its listing, distributing approximately 10.6 billion yuan in cash dividends over the past five years, which is about 40% of the net profit attributable to shareholders [6] - For 2023, the company plans to distribute a total cash dividend of 2.047 billion yuan, with a payout ratio of 36.24% [6] Valuation and Future Outlook - The company is positioned as a leader in the coal-to-olefins sector, focusing on industrial synergy and cost reduction, with significant growth potential ahead [7] - The report projects a positive outlook for the company’s profitability due to the anticipated recovery in demand and improvement in price differentials for polyolefins [7]

Investment Rating - The report maintains an "Accumulate" rating for the company, indicating a projected relative increase of 5% to 15% compared to the CSI 300 index over the next six months [12]. Core Views - The company reported a revenue of 29.136 billion yuan in 2023, a year-on-year increase of 2.48%, while the net profit attributable to shareholders was 5.651 billion yuan, a decline of 10.34% year-on-year [1][4]. - The decline in profits is attributed to falling prices of olefins and coke, but the company managed to stabilize overall performance by increasing production volume [1][5]. - The company is a leader in China's new coal chemical industry, with major operations in coal-to-olefins and coking, producing polyethylene, polypropylene, and coke [1][4]. - The company has expanded its coal production capacity by 1 million tons per year and increased olefin production capacity through new projects, which is expected to support future growth [1][5]. Financial Performance Summary - The company's gross margin for 2023 was 30.40%, a decrease of 2.47 percentage points year-on-year, while the net margin was 19.39%, down 2.78 percentage points year-on-year [4][5]. - In Q4 2023, the company achieved a revenue of 8.735 billion yuan, a year-on-year increase of 25.77%, and a net profit of 1.760 billion yuan, a year-on-year increase of 89.25% [4][5]. - The company expects earnings per share (EPS) of 1.08 yuan and 1.31 yuan for 2024 and 2025, respectively, with corresponding price-to-earnings (PE) ratios of 14.57 and 12.06 based on the closing price of 15.74 yuan on March 25, 2024 [5][6]. Market Data - As of March 25, 2024, the company's closing price was 15.74 yuan, with a market capitalization of 115.427 billion yuan [2]. - The company has a price-to-book (P/B) ratio of 3.00 and a net asset return (ROE) of 14.66% [2][4].

股 票 研 究 [Table_industryInfo] 煤炭/能源 [ Table_Main[宝ITnaf 丰bol]e 能_Ti源tle]( 600989) [评Tab级le_：Inv est] 增持 上次评级： 增持 23 年业绩符合预期，新项目落地打开成长 目标价格： 18.15 上次预测： 18.75 公 ——宝丰能源2023 年年报点评 当前价格： 15.69 司 孙羲昱(分析师) 杨思远(分析师) 陈浩越(研究助理) 2024.03.26 更 021-38677369 021-38032022 021-38031035 [交Ta易bl数e_M据a rket] 新 sunxiyu@gtjas.com yangsiyuan026856@gtjas.com chenhaoyue028692@gtjas.com 证书编号 S0880517090003 S0880522080005 S0880123070130 52周内股价区间（元） 12.05-15.84 报 总市值（百万元） 115,427 告 本报告导读： 总股本/流通A股（百万股） 7,333/7,333 流通 B股/H股（百万股） 0/0 公司 ...

2024年03月25日 公 司点评 公 买入 / 维持 司 宝丰能源(600989) 研 究 以量补价支撑公司当前业绩，新建产能打造未来成长空间 事件：公司发布 2023 年年报，2023 年公司实现营业收入 291.36 亿 ◼ 走势比较 元，同比增长2.48%；实现归母净利润56.51亿元，同比下降10.34%。公 10% 司公布利润分配方案，拟每10股派息3.158元（含税）。维持“买入”评级。 太 2% 四季度同比、环比均出现较明显改善。2023 年，公司实现营业收入 ))42/3/32 4/6/32 51/8/32 62/01/32 6/1/42 81/3/42 平 (1( 46 %% 2 19 01 .. 33 46 %。亿 其元 中， ，公同 司比 第增 四长 季2 度.4 实8% 现； 营实 业现 收归 入母净 87利 .3润 5亿56 元.5 ，1 同亿 比元 增， 长同 25比 .下 77降 洋 %， 证 (22%) 环比增长19.48%，实现归母净利润17.6亿元，同比增长89.25%，环比增 券 长7.7%。以量补价成为公司2023年经营的主基调，公司的主要产品聚乙 (30%) 股 烯 ...

证券代码：600989 证券简称：宝丰能源 公告编号：2024-019 宁夏宝丰能源集团股份有限公司 对外担保的进展公告 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: ●本次担保是否有反担保：无 一、担保额度审议情况概述 宁夏宝丰能源集团股份有限公司（以下简称"公司"）于 2023 年 12 月 29 日召开第四届董事会第七次会议，2024 年 1 月 15 日召开 2024 年第一次临时股 东大会，审议通过了《关于 2024 年对外担保额度预计的议案》，同意为内蒙子 公司向银行等金融机构申请综合授信额度或向其他融资机构融资事项等提供担 保，担保总额不超过人民币 170 亿元，公司担保金额以被担保公司实际发生担 保金额为准。上述担保金额为最高限额担保，具体担保金额、担保期限等以实 际签订的担保合同为准。上述对外担保额度有效期自 2024 年第一次临时股东大 会审议通过之日起一年或至股东大会审议通过 2025 年相关对外担保额度之日止。 具体内容详见公司于 2023 年 12 月 30 日披露于《中国证券报》《 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's annual performance met expectations, with a significant quarter-on-quarter profit increase in Q4. In 2023, the company achieved revenue of 29.136 billion yuan, a year-on-year increase of 2.48%, and a net profit attributable to shareholders of 5.651 billion yuan, a year-on-year decrease of 10.34%. In Q4 alone, revenue reached 8.735 billion yuan, a year-on-year increase of 25.77% and a quarter-on-quarter increase of 19.48%, with a net profit of 1.760 billion yuan, a year-on-year increase of 89.25% and a quarter-on-quarter increase of 7.70% [1][2] - The company's growth in 2023 was supported by multiple project launches, particularly the Inner Mongolia olefin project, which is expected to enhance growth potential. The company completed the Ningdong Phase III coal-to-olefin and C2-C5 and mixed hydrocarbon utilization projects, adding methanol capacity of 1.5 million tons/year and polyethylene and polypropylene capacity of 900,000 tons/year. Additionally, a 200,000-ton styrene project was launched in September 2023, and a 250,000-ton/year EVA facility is set to begin trial production in February 2024 [1][2] Summary by Sections Financial Performance - In 2023, the company reported a revenue of 29.136 billion yuan, with a year-on-year growth of 2.5%. The operating profit was 6.786 billion yuan, down 12.1% year-on-year, and the net profit attributable to shareholders was 5.651 billion yuan, a decrease of 10.3% year-on-year. The earnings per share (EPS) for 2023 was 0.77 yuan [5][8] - The projected EPS for 2024, 2025, and 2026 is 1.11 yuan, 1.77 yuan, and 1.93 yuan respectively, with significant growth expected in 2024 [2][5] Project Developments - The company has initiated several projects that are expected to contribute to future growth, including the Inner Mongolia coal-to-olefin project, which is anticipated to start production in Q4 2024. This project will significantly increase the company's olefin production capacity [1][2] Valuation and Price Target - The target price for the company's stock is set at 17.32 yuan, based on a price-to-earnings (PE) ratio of 15.6 times for 2024, reflecting a premium due to expected higher growth rates compared to peers [2][4]