试运期间，机组运行平稳，环保指标优秀，实现大气污染物超低排放及废水零排放。清远二期投运后， 清远电力预计每年可提供约200 亿千瓦时的清洁高效电能，将有效缓解粤港澳大湾区电力保供压力，助 力地方经济高质量发展。 智通财经APP讯，中国神华(01088)公布，近日，公司持股67%的控股子公司国能清远发电有限责任公司 ("清远电力")二期扩建工程项目("清远二期")4 号发电机组顺利通过 168 小时试运行，正式投入商业运 营。至此，清远二期2台 100 万千瓦超超临界二次再热燃煤发电机组全部建成投运。 ...

智通财经APP讯，中国神华(01088)公布，2026年1月，商品煤产量为2740万吨，同比增长10%;煤炭销售 量为3320万吨，同比增长9.9%。 总发电量为222.2亿千瓦时，同比增长34.2%;总售电量为209.6亿千瓦 时，同比增长34.4%。 ...

Group 1 - The core viewpoint of the article highlights the significant growth in China Shenhua's coal production and sales, as well as a substantial increase in power generation and sales in January 2026 compared to the previous year [1] Group 2 - In January 2026, the company's coal production reached 27.4 million tons, representing a year-on-year increase of 10% [1] - The coal sales volume was 33.2 million tons, showing a year-on-year growth of 9.9% [1] - The total power generation amounted to 22.22 billion kilowatt-hours, with a year-on-year increase of 34.2% [1] - The total electricity sales reached 20.96 billion kilowatt-hours, reflecting a year-on-year growth of 34.4% [1]

中国神华（601088）(01088)公布，近日，公司持股67%的控股子公司国能清远发电有限责任公司("清远 电力")二期扩建工程项目("清远二期")4号发电机组顺利通过168小时试运行，正式投入商业运营。至 此，清远二期2台100万千瓦超超临界二次再热燃煤发电机组全部建成投运。 试运期间，机组运行平稳，环保指标优秀，实现大气污染物超低排放及废水零排放。清远二期投运后， 清远电力预计每年可提供约200亿千瓦时的清洁高效电能，将有效缓解粤港澳大湾区电力保供压力，助 力地方经济高质量发展。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 (在中華人民共和國註冊成立的股份有限公司) (股份代碼: 01088) 2026 年 1 月份主要運營數據公告 (海外監管公告) 中國神華能源股份有限公司（「本公司」）董事會及全體董事保證本公告內容不 存在任何虛假記載、誤導性陳述或者重大遺漏，並對其內容的真實性、準確性和完整 性承擔法律責任。 1 以上主要運營數據來自本公司內部統計。運營數據在月度之間可能存在較大差 異，其影響因素包括但不限於天氣變化、設備檢修、季節性因素和安全檢查等。運營 數據可能與相關期間定期報告披露的數據有差異。投資者應注意不恰當信賴或使用以 上信息可能造成投資風險。 | 運營指標 | 單位 | 年 2026 | 年 2025 | 同比变化 | | --- | --- | --- | --- | --- | | | | 月 1 | 月 1 | (%) | | （一）煤炭 | | | | | | 商品煤產量 1. | 百萬噸 | 27 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之 內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示 概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引 致之任何損失承擔任何責任。 ( 在中華人民共和國註冊成立的股份有限公司 ) (股份代碼:01088) 茲載列中國神華能源股份有限公司於 2026 年 2 月 14 日在上海證券交 易所網站(www.sse.com.cn)刊登的「關於清遠二期 4 號機組通過 168 小時試運行的公告」文件，僅供參閱。 承董事會命 中國神華能源股份有限公司 總會計師、董事會秘書 宋靜剛 北京，2026 年 2 月 13 日 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而 做出。 於本公告日期，董事會成員包括執行董事張長岩先生，非執行董事康 鳳偉先生及李新華先生，獨立非執行董事袁國強博士、陳漢文博士及 王虹先生，職工董事焦蕾女士。 1 证券代码：601088 证券简称：中国神华 公告编号：临 2026-013 中国神华能源股份有限公司 关于清远二期 4 号机组通过 168 小时试运行的公告 承中国神华能源股份有限公司 ...

Core Viewpoint - China Shenhua (601088) plans to acquire equity stakes in 12 core enterprises under its controlling shareholder, China Energy Group, for a total consideration of 133.598 billion yuan, marking the first major asset restructuring in the A-share market under the revised "2+5+5" simplified review process since its implementation [1][4]. Group 1: Transaction Details - The acquisition will be financed through a combination of issuing A-shares (30%) and cash payments (70%), with cash payments amounting to 93.519 billion yuan and the issuance of 1.363 billion shares at 29.4 yuan per share, representing 6.42% of the total share capital post-transaction [3]. - The target assets include 100% stakes in various companies such as Guoyuan Power, Xinjiang Energy, and others, with total assets of 233.423 billion yuan and a net profit of 9.428 billion yuan for the fiscal year 2024 [3]. Group 2: Strategic Implications - The restructuring is expected to significantly enhance China Shenhua's capacity and resource reserves in its core business areas, improving resource security and industrial synergy, while laying a solid foundation for advancing clean production and optimizing capacity structure [1][5]. - The transaction is aligned with regulatory policies aimed at supporting listed companies in enhancing investment value through mergers and acquisitions, exemplifying a model for similar major asset restructurings [4]. Group 3: Financial Impact - Post-transaction, China Shenhua anticipates an increase in its basic earnings per share, projected to rise to 3.15 yuan per share in 2024, reflecting a 6.10% increase, and to 1.54 yuan per share in the first seven months of 2025, indicating a 4.40% increase [6]. - The acquisition will enhance the company's operational scale, with coal reserves expected to increase by 64.72% and recoverable coal reserves by 97.71%, alongside significant increases in coal production and power generation capacity [5].

Group 1 - The coal ETF (515220) experienced a decline of 1.12%, closing at 1.151 yuan with a trading volume of 303 million yuan [1] - Major holdings in the coal ETF showed mixed performance, with China Shenhua down 2.42%, Shaanxi Coal and Chemical Industry down 2.44%, and Yanzhou Coal Mining down 0.80%, while Shanxi Coking Coal increased by 0.28% [1] - The coal ETF's performance benchmark is the CSI Coal Index return, managed by Guotai Asset Management, with a return of 172.28% since its inception on January 20, 2020, and a return of 6.49% over the past month [1]

中国神华能源股份有限公司（以下简称"中国神华"）发行股份购买资产并募集配套资金获证监会注册批复。 中国神华2月12日晚发布公告称，公司作价1335.98亿元收购控股股东国家能源集团旗下12家核心企业股权的交易，当日获得中国证 监会注册批复。 此次交易不仅是A股最大规模发行股份购买资产类项目，更成为A股首单适用并购重组简易审核程序的重组项目，彰显资本市场深化改 革与服务实体经济的强劲活力。 作为A股首单适用简易审核程序的并购重组项目，其审核效率堪称行业标杆。 "一、同意你公司向国家能源投资集团有限责任公司发行 1,363,248,446 股 股份购买相关资产的注册申请。 l 二、同意你公司发行股份募集配套资金不超过 200 亿元的注册申请。 三、你公司本次发行股份购买资产并募集配套资金应当严格按照报送上海证 券交易所的有关申请文件进行。 四、你公司应当按照有关规定及时履行信息披露义务。 五、你公司应当按照有关规定办理本次发行股份的相关手续。 六、本批复自下发之日起 12个月内有效。 公司董事会将根据中国证监会批复和相关法律法规的要求以及公司股东会 的授权,在规定期限内办理本次交易所涉及的相关事宜,并及时履行信息 ...

Core Insights - The Hong Kong stock market is experiencing two distinct but resonant waves of incremental capital from mainland China and South Korean retail investors, with mainland southbound funds achieving a record net purchase of 1.41 trillion HKD, establishing themselves as core builders of pricing power in the market [1][10] - Southbound funds are characterized by long-term value investment, while South Korean retail investors engage in high-frequency trading and narrative-driven investments, creating a diversified funding source and a layered pricing logic in the Hong Kong market [1][10] Funding Scale and Structure - Southbound funds have become the core incremental source and valuation system reshaper for the Hong Kong market, with a cumulative net inflow of 5.11 trillion HKD by the end of 2025, and a market value exceeding 6.3 trillion HKD, accounting for 12.7% of the total market [2] - South Korean retail investors, while having a smaller capital scale, exhibit concentrated trading behavior and significant leverage, particularly impacting specific sectors like new economy IPOs and the semiconductor industry [2][5] Industry Preferences - Southbound funds focus on financials and high-dividend utilities, with significant investments in major banks and state-owned enterprises driven by high dividend yields and low valuation levels, while South Korean investors show minimal interest in these sectors [3][5] - South Korean retail investors heavily invested in Xiaomi and MiniMax-WP, demonstrating a high turnover and narrative-driven trading approach, contrasting with the stable, long-term holdings of Southbound funds [5][8] Trading Behavior and Decision-Making - Southbound funds exhibit a decision-making anchor based on dividend yield, ROE stability, and free cash flow generation, characterized by continuous accumulation and stable holdings, as seen with significant net purchases in major banks [8][9] - South Korean retail investors, on the other hand, are driven by industry narrative strength and social media trends, with a high frequency of trading and a tendency to hold stocks for less than three months, reflecting a stark contrast to the long-term holding strategy of Southbound funds [9][10] Market Dynamics - The influx of South Korean retail investors into the Hong Kong market represents a diversification of the investor base, providing liquidity while also potentially increasing volatility during certain periods [9][10] - The interaction between Southbound funds and South Korean retail investors is creating a new normal in the Hong Kong market characterized by layered pricing and concurrent narratives, necessitating both stable investment strategies and agile trading approaches [10]