Core Viewpoint - The coking coal sector experienced a decline of 0.36% on October 31, with Antai Group leading the losses. The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1]. Group 1: Market Performance - The coking coal sector's stocks showed mixed performance, with Yunwei Co. rising by 1.64% to a closing price of 3.71, while Antai Group fell by 2.81% to 3.11 [1]. - The trading volume for Yunwei Co. was 225,000 shares, with a transaction value of approximately 82.65 million yuan, while Antai Group had a trading volume of 1.38 million shares [1]. Group 2: Capital Flow - The coking coal sector saw a net outflow of 154 million yuan from main funds, while retail investors contributed a net inflow of 105 million yuan [1]. - Individual stocks within the sector experienced varied capital flows, with Yunwei Co. having a net inflow of 749,100 yuan from main funds, while Antai Group faced a net outflow of 17.39 million yuan [2].

Core Viewpoint - The coal mining and processing sector experienced a decline in the afternoon trading session, with significant drops in stock prices for several companies [1] Company Performance - Antai Group saw a decline of over 8% in its stock price [1] - Zhengzhou Coal Electricity fell by more than 6% [1] - Other companies such as Shaanxi Black Cat, Yunmei Energy, and New Dazhou A also experienced declines [1]

Core Viewpoint - Shaanxi Black Cat Coking Co., Ltd. experienced a decline of 5.15% in stock price, closing at 4.42 CNY per share, with a trading volume of 229 million CNY and a turnover rate of 2.49%, resulting in a total market capitalization of 9.028 billion CNY [1] Company Overview - Shaanxi Black Cat was established on November 18, 2003, and went public on November 5, 2014. The company is located in the Yellow River Mining Building, Hancheng City, Shaanxi Province. Its main business involves the production and sale of coking products, coal chemical products, and coal products [1] - The revenue composition of the main business includes: - Coking coal: 72.06% - Coal tar: 6.15% - LNG: 5.78% - Coking coal: 3.51% - Synthetic ammonia: 3.42% - Crude benzene: 3.14% - Methanol: 2.80% - BDO: 0.95% - Medium coal: 0.92% - Other: 0.78% - Other product revenue: 0.50% [1] Shareholder Information - Among the top ten circulating shareholders of Shaanxi Black Cat, a fund under Southern Fund holds a position. The Southern CSI 1000 ETF (512100) reduced its holdings by 77,000 shares in the third quarter, now holding 7.4676 million shares, which accounts for 0.37% of the circulating shares. The estimated floating loss today is approximately 1.7922 million CNY [2] - The Southern CSI 1000 ETF (512100) was established on September 29, 2016, with a current scale of 76.63 billion CNY. Year-to-date returns are 28.54%, ranking 2138 out of 4216 in its category; the one-year return is 28.02%, ranking 1896 out of 3885; and since inception, the return is 13.75% [2]

Core Viewpoint - Shaanxi Black Cat (601015.SH) reported a significant decline in revenue and an increase in net loss for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first three quarters reached 7.852 billion yuan, representing a year-on-year decrease of 31.24% [1] - The net profit attributable to shareholders of the parent company was -746 million yuan, which is a deterioration of 104 million yuan compared to the same period last year [1] - The basic earnings per share stood at -0.37 yuan [1]

- 1 - 证券代码：601015 证券简称：陕西黑猫 公告编号：2025-044 陕西黑猫焦化股份有限公司 2025 年第三季度主要经营数据公告 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。 根据上海证券交易所《上市公司行业信息披露指引第十三号—化工》的规定， 现将公司 2025 年第三季度主要经营数据披露如下： | 主要产品 | 产量（万吨） | 销量（万吨） | 销售收入（万元） | | --- | --- | --- | --- | | 焦炭 | 135.18 | 155.56 | 185,052.34 | | 焦油 | 5.08 | 5.18 | 15,479.17 | | 粗苯 | 1.61 | 1.72 | 7,346.68 | | 甲醇 | 4.86 | 3.54 | 6,300.58 | | 合成氨 | 3.68 | 3.60 | 6,191.17 | | LNG | 4.20 | 4.70 | 17,188.92 | | BDO | 1.07 | 1.11 | 7,015.57 | | 精煤 | 1 ...

证券代码：601015 证券简称：陕西黑猫 公告编号：2025-045 陕西黑猫焦化股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 ●投资者可于 2025 年 10 月 31 日（星期五）至 11 月 6 日（星期四）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱： heimaocoking@126.com 进行提问。公司将会于 2025 年第三季度业绩说明会（简称"业 绩说明会"）上对投资者普遍关注的问题进行回答。 重要提示： 陕西黑猫焦化股份有限公司（简称"公司"）已于 2025 年 10 月 30 日发布公 司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三 季度的经营情况，公司计划于 2025 年 11 月 7 日上午 10：00-11：00 举行 2025 年 第三季度业绩说明会，就投资者关心的问题进行交流。 ●会议召开时间：2025 年 11 月 7 日（星期五）上午 10：00-11 ...

Financial Performance - The company's operating revenue for the third quarter was ¥2,618,529,936.49, a decrease of 28.67% compared to the same period last year[4] - The total profit for the quarter was -¥370,249,728.30, reflecting a decline of 31.44% year-on-year[4] - The net profit attributable to shareholders was -¥283,941,263.37, down 44.32% from the previous year[4] - The basic earnings per share for the quarter was -¥0.14, a decrease of 44.32% year-on-year[5] - Total operating revenue for the first three quarters of 2025 was CNY 7,852,366,583.91, a decrease of 31.5% compared to CNY 11,420,265,926.59 in the same period of 2024[16] - Net profit for the first three quarters of 2025 was a loss of CNY 945,934,680.29, compared to a loss of CNY 808,203,104.03 in the same period of 2024[16] - The net profit attributable to the parent company was -746,276,348.04 CNY, compared to -642,319,791.92 CNY in the previous period, indicating a decline of approximately 16.2%[17] - The total comprehensive income attributable to the parent company was -746,314,599.12 CNY, compared to -641,311,888.56 CNY in the previous period, reflecting a decrease of about 16.4%[17] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥29,793,449.99, an increase of 174.58% compared to the same period last year[4] - The net cash flow from operating activities was 29,793,449.99 CNY, a significant improvement from -39,946,416.68 CNY in the same period last year[18] - Cash received from the sale of goods and services was 7,352,512,985.20 CNY, down 26.3% from 9,962,164,215.68 CNY in the previous year[18] - Cash outflow for purchasing goods and services was 6,217,220,147.03 CNY, a decrease of 26.1% compared to 8,415,503,434.15 CNY in the previous year[19] - The net cash flow from investing activities was -69,616,720.25 CNY, an improvement from -373,430,064.46 CNY in the previous year[19] - Cash inflow from financing activities totaled 7,432,201,483.61 CNY, an increase of 56.2% from 4,754,791,867.34 CNY in the previous year[19] - The net increase in cash and cash equivalents was 56,173,510.46 CNY, compared to 142,946,369.00 CNY in the previous year[19] - The ending balance of cash and cash equivalents was 107,480,897.62 CNY, down from 290,337,254.25 CNY in the previous year[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥19,411,167,167.04, a decrease of 6.96% from the end of the previous year[5] - Total assets as of September 30, 2025, were CNY 19,411,167,167.04, a decrease from CNY 20,863,555,247.51 at the end of 2024[14] - Total liabilities as of September 30, 2025, were CNY 12,038,296,112.77, compared to CNY 12,537,762,629.72 at the end of 2024[14] - The company's total equity as of September 30, 2025, was CNY 7,372,871,054.27, down from CNY 8,325,792,617.79 at the end of 2024[14] - The equity attributable to shareholders decreased by 11.80% to ¥5,638,563,387.88 compared to the previous year[5] Inventory and Expenses - The company's inventory as of September 30, 2025, was CNY 609,707,072.70, a decrease from CNY 1,357,275,971.08 at the end of 2024[13] - The company reported a significant increase in financial expenses, totaling CNY 212,114,694.12 for the first three quarters of 2025, compared to CNY 250,564,403.29 in 2024[16] Non-Recurring Items - Non-recurring gains and losses for the quarter totaled ¥1,099,304.86, with government subsidies being a significant component[7] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 79,386[10] Accounting Standards - The company did not apply new accounting standards starting from 2025[20] Sales Performance - The company's main products experienced a decline in both sales volume and prices, contributing to the revenue drop[8]

Core Viewpoint - Shaanxi Black Cat reported a significant decline in revenue and net profit for the third quarter of 2025, indicating ongoing financial challenges for the company [1] Financial Performance - In Q3 2025, the company achieved an operating income of 2.619 billion yuan, a year-on-year decrease of 28.67% [1] - The net profit attributable to shareholders was a loss of 284 million yuan, with basic earnings per share at -0.14 yuan [1] - For the first three quarters of 2025, the operating income totaled 7.852 billion yuan, down 31.24% year-on-year [1] - The net profit attributable to shareholders for the first three quarters was a loss of 746 million yuan, with basic earnings per share at -0.37 yuan [1]

Core Insights - The coke sector experienced a significant increase of 4.37% on October 29, with Antai Group leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Sector Performance - Antai Group (600408) closed at 3.55, with a rise of 9.91% and a trading volume of 2.9828 million shares, totaling a transaction value of 1.041 billion [1] - Meijin Energy (000723) saw a closing price of 5.28, up 7.98%, with a trading volume of 3.9817 million shares and a transaction value of 2.102 billion [1] - Shaanxi Black Cat (601015) closed at 4.66, increasing by 3.10%, with a trading volume of 1.6032 million shares and a transaction value of 734 million [1] - Shanxi Coking Coal (600740) closed at 4.45, up 2.30%, with a trading volume of 1.0476 million shares and a transaction value of 462 million [1] - Baotailong (601011) closed at 4.02, with a slight increase of 1.01%, trading 2.5473 million shares for a total of 1.009 billion [1] - Yunnan Coal Energy (600792) closed at 4.79, up 0.84%, with a trading volume of 87580 shares and a transaction value of 417 million [1] - Yunwei Co. (600725) closed at 3.72, with a minor increase of 0.81%, trading 22770 shares for a total of 83.966 million [1] Capital Flow - The coke sector saw a net inflow of 408 million from main funds, while retail investors experienced a net outflow of 314 million [1] - Meijin Energy had a main fund net inflow of 4.05 billion, but retail investors saw a net outflow of 2.15 billion [2] - Antai Group experienced a main fund net inflow of 23.137 million, with retail investors also seeing a net outflow of 850.34 million [2] - Shanxi Coking Coal had a main fund net inflow of 18.4248 million, while retail investors faced a net outflow of 34.1216 million [2] - Shaanxi Black Cat recorded a main fund net inflow of 16.8386 million, with retail investors experiencing a net outflow of 2.44071 million [2] - Yunnan Coal Energy had a main fund net inflow of 6.0287 million, but retail investors faced a net outflow of 2.36912 million [2] - Yunwei Co. had a negligible main fund net outflow of 1.249 million, with retail investors also seeing a net outflow of 58.71 million [2] - Baotailong faced a significant main fund net outflow of 61.3759 million, while retail investors had a net outflow of 756.54 million [2]

Core Insights - The coke sector experienced a 2.49% increase on October 28, with Antai Group leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Sector Performance - Antai Group saw a closing price of 3.23, with a significant increase of 9.86% and a trading volume of 2.29 million shares, amounting to 687 million yuan [1] - Baotailong closed at 3.98, up 6.13%, with a trading volume of 2.90 million shares and a transaction value of 1.12 billion yuan [1] - Shaanxi Heimei closed at 4.52, increasing by 5.85%, with a trading volume of 1.63 million shares and a transaction value of 705 million yuan [1] - Yunnan Coal Energy closed at 4.75, up 2.15%, with a trading volume of 979,000 shares and a transaction value of 450 million yuan [1] - Shanxi Coking Coal closed at 4.35, increasing by 1.40%, with a trading volume of 864,200 shares and a transaction value of 368 million yuan [1] - Yunwei Co. closed at 3.69, with a slight increase of 0.27%, trading 261,100 shares for a total of 95.94 million yuan [1] - Meijin Energy remained unchanged at 4.89, with a trading volume of 711,700 shares and a transaction value of 347 million yuan [1] Capital Flow - The coke sector saw a net inflow of 310 million yuan from institutional investors, while retail investors experienced a net outflow of 226 million yuan [1] - Antai Group had a net inflow of 130 million yuan from institutional investors, but retail investors saw a net outflow of 86.89 million yuan [2] - Baotailong experienced a net inflow of 1.15 billion yuan from institutional investors, with retail investors facing a net outflow of 93.38 million yuan [2] - Shaanxi Heimei had a net inflow of 41.53 million yuan from institutional investors, while retail investors had a net outflow of 29.26 million yuan [2] - Shanxi Coking Coal recorded a net inflow of 13.32 million yuan from institutional investors, with retail investors seeing a net outflow of 17.93 million yuan [2] - Yunnan Coal Energy had a net inflow of 13.28 million yuan from institutional investors, while retail investors faced a net outflow of 285,930 yuan [2]