Financial Performance - Total revenue for Q1 2024 was CNY 996,302.01, a significant decrease from CNY 13,524,162.94 in Q1 2023, representing a decline of approximately 92.6%[4] - Operating profit for Q1 2024 was CNY -25,717,816.11, compared to CNY 111,860,497.56 in Q1 2023, indicating a substantial loss[8] - Net profit for Q1 2024 was CNY -25,840,421.75, a stark contrast to the net profit of CNY 112,982,251.19 in Q1 2023, reflecting a negative shift in profitability[8] - The company's operating revenue for the first quarter reached CNY 2,412,701,599.30, representing a year-on-year increase of 7.58%[30] - Net profit attributable to shareholders of the listed company was CNY 451,845,572.59, reflecting a growth of 5.12% compared to the same period last year[30] - The net profit for Q1 2024 was approximately ¥647.26 million, slightly up from ¥646.89 million in the same period last year, indicating a growth of about 0.06%[43] - The operating profit for the quarter was approximately ¥780.94 million, compared to ¥774.56 million in the previous year, representing an increase of about 0.49%[43] - The net profit attributable to the parent company for Q1 2024 was CNY 451,854,047.44, compared to CNY 429,187,062.37 in Q1 2023, indicating a growth of 5.3%[65] Cash Flow - Cash flow from operating activities in Q1 2024 was CNY -56,578,021.82, an improvement from CNY -90,008,299.84 in Q1 2023[11] - The net cash flow generated from operating activities amounted to CNY 1,306,748,430.96, which is an increase of 5.29% year-on-year[30] - The cash flow from operating activities in Q1 2024 was CNY 3,231,144,076.07, slightly down from CNY 3,270,374,208.97 in Q1 2023[66] - The company reported a net cash outflow from financing activities of CNY 1,227,275,478.20, indicating a significant cash outflow in this area[30] - The net cash flow from operating activities was 1,306,748,430.96 CNY, an increase from 1,241,058,727.37 CNY year-over-year[67] - The total cash outflow from operating activities amounted to 1,924,395,645.11 CNY, down from 2,029,315,481.60 CNY[67] - The net cash flow from investing activities was -386,854,254.91 CNY, compared to -257,567,876.58 CNY in the previous period[67] - The company's cash flow from financing activities resulted in a net outflow of -1,235,865,886.38 CNY, compared to -748,257,542.95 CNY last year[68] Assets and Liabilities - Total assets decreased from CNY 11,164,359,755.93 in the previous period to CNY 10,113,450,091.49, a reduction of about 9.4%[2] - Total liabilities decreased from CNY 3,161,850,127.40 to CNY 2,136,780,884.71, indicating a decline of approximately 32.4%[2] - The company's total equity decreased from CNY 8,002,509,628.53 to CNY 7,976,669,206.78, a slight reduction of about 0.3%[2] - The total assets at the end of the reporting period were CNY 29,664,621,025.65, showing a decrease of 0.84% from the end of the previous year[30] - The company's cash and cash equivalents at the end of the period were CNY 1,574,565,880.54, down from CNY 2,648,002,072.01 at the beginning of the period[30] - The total current liabilities increased to approximately ¥2.48 billion, up from ¥2.22 billion, marking an increase of about 11.73%[38] - The total non-current assets were approximately ¥23.65 billion, down from ¥23.76 billion, indicating a decrease of about 0.47%[38] - The company's total liabilities as of March 31, 2024, were CNY 14,276,698,727.98, a decrease from CNY 15,365,214,398.21 at the end of 2023[61] Equity and Earnings - The basic earnings per share for the quarter was CNY 0.31, an increase of 3.33% compared to the previous year[30] - The weighted average return on equity was 3.94%, a decrease of 0.06 percentage points from the previous year[30] - The net profit after deducting non-recurring gains and losses was CNY 450,191,454.45, up by 5.05% year-on-year[30] - The total equity attributable to shareholders of the listed company increased to CNY 11,744,088,070.75, a rise of 5.20% from the previous year[31] - The total equity attributable to shareholders increased to CNY 11,744,088,070.75 in Q1 2024 from CNY 11,163,507,875.29 in Q1 2023, marking a growth of 5.2%[61] Investment and Future Plans - Cash inflow from investment activities in Q1 2024 was CNY 212,756,952.55, compared to CNY 175,075,976.66 in Q1 2023, showing an increase of approximately 21.5%[11] - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[40]

证券代码：601101 证券简称：昊华能源 公告编号：2024-004 北京昊华能源股份有限公司 关于控股子公司宁夏红墩子煤业有限公司 （红一煤矿）取得安全生产许可证的公告 企业名称：宁夏红墩子煤业有限公司红一煤矿 许可范围：煤炭开采 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。 北京昊华能源股份有限公司控股子公司宁夏红墩子煤业有限公 司红一煤矿于近日取得了《安全生产许可证》，具体情况如下： 编 号：(宁)MK 安许证〔2024〕002 号 北京昊华能源股份有限公司 2024 年 4 月 8 日 发证机关：宁夏回族自治区应急管理厅 有 效 期：2024 年 04 月 02 日至 2027 年 04 月 02 日 敬请广大投资者注意投资风险。 特此公告。 ...

公司独立董事认真审核了相关会议资料，基于客观、独立判断， 及充分讨论，审议通过了《关于制定〈北京昊华能源股份有限公司 独立董事工作制度〉的议案》《关于制定〈北京昊华能源股份有限 公司独立董事专门会议工作制度〉的议案》及《关于制定〈北京昊 华能源股份有限公司外部董事履职服务管理办法〉的议案》。 三项议案表决情况均为同意 3 票，反对 0 票，弃权 0 票。 第七届董事会独立董事专门会议 2024 年第一次会议决议 2024 年 3 月 8 日，北京昊华能源股份有限公司（以下简称"公 司"）以视频会议形式召开了第七届董事会独立董事专门会议 2024 年第一次会议。会议应出席独立董事 4 人，实到 4 人，本次会议的 召开符合有关规定。 北京昊华能源股份有限公司 独立董事认为，制定上述制度和管理办法有利于明确独立董事 的工作职责，促进公司规范运作，更好地维护公司及股东的利益； 可以完善外部董事服务保障工作机制，有效提升外部董事服务保障 工作水平，加强对公司外部董事的管理；充分发挥外部董事在公司 治理中的作用；同意将上述三项议案提交公司董事会审议。 独立董事：贺佑国、张保连、栾华、宋刚 2024 年 3 月 8 日 ...

证券代码：601101 证券简称：昊华能源 公告编号：2024-003 北京昊华能源股份有限公司 第七届董事会第八次会议决议公告 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个别及 连带责任。 重要内容提示： 象，其任职资格符合担任上市公司高级管理人员的条件，能够胜任 所聘岗位职责的要求，同意将此议案提交公司董事会审议。 北京昊华能源股份有限公司（以下简称"公司"）本次董事 会以通讯方式召开，全体董事参与表决。 本次董事会全部议案均获通过，无反对票、弃权票。 一、董事会会议召开情况 公司第七届董事会第八次会议于 2024 年 4 月 1 日以通讯方式 召开。会议通知及材料于 2024 年 3 月 22 日以通讯方式向全体董 事发出，会议表决截止时间为 2024 年 4 月 1 日 15 时。 本次会议应参加表决的董事 11 人，实际参加表决的董事 11 人。本次会议召开符合《公司法》《公司章程》的有关规定。 二、董事会会议审议情况 1.关于选举公司董事的议案 经表决，同意 11 票，反对 0 票，弃权 0 票，通过此议案。 同意公司聘 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company is positioned as a rare coal production capacity increment target, with expectations for improved dividend payouts due to market capitalization management [1] - The company has a strong cash flow and low short-term debt pressure, which supports its dividend expectations [1] - The coal sales are primarily based on long-term contracts, providing stability against price fluctuations [1] Summary by Sections 1. Company Overview - The company is backed by the Beijing State-owned Assets Supervision and Administration Commission and focuses on coal production [27] - The company has a clear ownership structure, with the major shareholder holding 63.3% of the shares [27] 2. Coal Business: Capacity Expansion and Growth - The company has significantly increased its coal production capacity through acquisitions and expansions, with a total approved capacity of 19.3 million tons and an equity capacity of 13.28 million tons as of the end of 2023 [1][37] - The company aims to achieve a coal production capacity of 30 million tons by the end of the 14th Five-Year Plan [37] 3. Cost Control and Profitability - The company maintains a cost advantage in coal production, with a cost per ton lower than industry averages by 50-144 yuan [1][62] - The gross profit per ton of coal is reported at 261.6 yuan, indicating strong profitability [1][62] 4. Market Capitalization Management - The State-owned Assets Supervision and Administration Commission has emphasized market capitalization management, which is expected to enhance the company's dividend payout significantly [1] - The company's price-to-book ratio is currently at 0.93, indicating it is trading below its net asset value [1] 5. Earnings Forecast and Valuation - The company is projected to achieve net profits of 1.354 billion, 1.511 billion, and 1.545 billion yuan for the years 2023, 2024, and 2025, respectively [1] - The report anticipates a dividend payout ratio increase to 60%, with expected cash dividends of 6.77 billion, 8.12 billion, and 9.48 billion yuan for the respective years [1]

Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of the stock [1]. Core Views - The company is backed by the Beijing State-owned Assets Supervision and Administration Commission and continues to focus on its coal business [4]. - The coal business is experiencing capacity expansion and price increases, leading to steady growth [4]. - The company has a strong cash flow and low debt levels, enhancing its dividend expectations due to state-owned enterprise reforms [4]. - The company is undervalued with a low price-to-book ratio and is expected to benefit from market re-evaluation [7]. Summary by Sections Company Overview - Beijing Haohua Energy Co., Ltd. was established in 2002 and listed in 2010, primarily engaged in coal production and sales, methanol production, and railway transportation [19]. Financial Metrics - As of Q3 2023, the company has a net asset per share of 7.82 yuan, a debt-to-asset ratio of 52.26%, and a total share capital of 1,440 million shares [2]. Coal Business - The company has significantly increased its coal production capacity, with a total approved capacity of 19.3 million tons and an equity capacity of 13.28 million tons as of the end of 2023 [7][48]. - The company has a cost advantage in coal production, with a gross profit of 261.6 yuan per ton, and is expected to further reduce costs as new mines reach full production [7][85]. - The company’s coal sales are primarily long-term contracts, which stabilize revenue [7]. Cash Flow and Debt Management - As of September 2023, the company had total interest-bearing liabilities of 8.48 billion yuan, with only 880 million yuan due in the short term, indicating low short-term repayment pressure [7]. - The company has a strong cash flow, with a net operating cash flow of 3.061 billion yuan in the first three quarters of 2023 [7]. Dividend Expectations - The company is expected to increase its dividend payout significantly due to state-owned enterprise reforms emphasizing market performance and shareholder returns [7]. - The report predicts a dividend payout ratio increase to 60%, with cash dividends projected at 6.77 billion yuan for 2023 [7]. Profit Forecast and Valuation - The company is projected to achieve net profits of 1.354 billion yuan, 1.511 billion yuan, and 1.545 billion yuan for 2023, 2024, and 2025, respectively, with corresponding P/E ratios of 7.71, 6.91, and 6.76 [31]. - The report highlights a significant discount compared to comparable companies, suggesting potential for price appreciation [7].

证券代码：601101 证券简称：昊华能源 公告编号：2024-002 北京昊华能源股份有限公司 关于 2023 年第四季度经营情况的公告 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。 根据上海证券交易所《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露》的要求，北京昊华能源股份有限公司（以下 简称"公司"）2023 年第四季度主要经营情况公告如下： | | 2023年第四季度 | 同比增减（%） | 2023 年 1-12 | 月 | 同比增减（%） | | --- | --- | --- | --- | --- | --- | | 煤炭产量（万吨） | 429.22 | 8.65% | 1,706.35 | | 14.50% | | 煤炭销量（万吨） | 427.68 | 8.30% | 1,705.18 | | 14.52% | | 煤炭销售收入（万元） | 198,157.75 | -12.37% | 765,215.67 | | -10.65% | | 煤炭销售成本（万元） | 70,318.66 ...

证券代码：601101 证券简称：昊华能源 公告编号：2024-001 重要内容提示： 北京昊华能源股份有限公司 关于控股子公司涉及诉讼的公告 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。 案件所处的诉讼阶段：乌苏市人民法院已受理，尚未开庭。 涉诉企业：原告:乌苏四棵树煤炭有限责任公司（以下简称： "乌苏煤炭公司"）；被告宁夏红墩子煤业有限公司（以下简称： "红墩子煤业"）。 上市公司所处的当事人地位：被告红墩子煤业是北京昊华 能源股份有限公司（以下简称"昊华能源"或"公司"）控股子公 司，昊华能源持有红墩子煤业 60%股权。 涉案的内容：乌苏煤炭公司以买卖合同纠纷诉请法院，请 求判令被告支付产能置换指标使用费 8,219.55 万元，及暂计至 2023 年 11 月 6 日的逾期付款利息 1,604.787225 万元，总计 9,824.34 万元。 是否会对上市公司损益产生负面影响：由于目前尚无法判 定此案诉讼结果，故无法判断对公司损益的具体影响。 2018 年 12 月，新疆公司作为甲方，宁夏铝业作为乙方，原 ...

证券代码：601101 证券简称：昊华能源 公告编号：2023-051 北京昊华能源股份有限公司 2023 年第三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 | 1、出席会议的股东和代理人人数 | 6 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 970,597,947 | | 3、出席会议的股东所持有表决权股份数占公司有表 | 67.4027 | | 决权股份总数的比例（%） | | 一、会议召开和出席情况 (一)股东大会召开的时间：2023 年 12 月 27 日 (二)股东大会召开的地点：北京市门头沟区新桥南大街 2 号公 司三层会议室 (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： (四)表决方式是否符合《公司法》及《公司章程》的规定，大会 主持情况等。 本次股东大会采用现场投票和网络投票相结合的方式进行表决； 本次会议由公司董事会召集，董事长董永站先生主持。会议的召开 和表决方式符 ...

国浩律师（北京）事务所 关于 北京昊华能源股份有限公司 2023 年第三次临时股东大会的 法律意见书 网址：http://www.grandall.com.cn 1 国浩律师（北京）事务所 关于北京昊华能源股份有限公司 2023 年第三次临时股东大会的 法律意见书 国浩京证字[2023]第 1049 号 致：北京昊华能源股份有限公司 国浩律师（北京）事务所（以下简称"本所"）在中华人民共和国具有执业 资格，可以从事与中国法律有关之业务。本所接受北京昊华能源股份有限公司（以 下简称"公司"）的委托，指派律师出席了公司 2023 年第三次临时股东大会（以 下简称"本次股东大会"）。现根据《中华人民共和国公司法》（以下简称"《公 司法》"）《上市公司股东大会规则》（以下简称"《股东大会规则》"）《律 师事务所从事证券法律业务管理办法》《律师事务所证券法律业务执业规则（试 行）》等法律、法规、规范性文件及《北京昊华能源股份有限公司章程》（以下 简称"《公司章程》"）的有关规定，对公司本次股东大会的相关事宜出具本法 律意见书。 北京 上海 深圳 杭州 天津 昆明 广州 成都 宁波 福州 西安 南京 南宁 香港 巴黎 地 ...