重要内容提示： 证券代码：601101 公司名称：昊华能源 公告编号：2025-005 北京昊华能源股份有限公司 第七届监事会第十一次会议决议公告 本公司监事会及全体监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。 公司监事秦磊因其他公务原因未能亲自出席，委托监事谷中 和出席本次监事会。 一、监事会会议召开情况 （一）本次监事会会议的召开是符合有关法律、行政法规、部 门规章、规范性文件和公司章程的规定。 （二）监事会会议通知和材料于 3 月 11 日以电子方式发出。 （三）监事会会议于 2025 年 3 月 21 日 16:30 时在公司三楼会 议室以现场方式召开。 （四）会议应到监事 3 人，实到 3 人（含授权监事），出席会 议的监事人数符合法定人数。监事秦磊先生因其他公务无法参加会 议，授权监事谷中和先生代为参会并进行表决。 （五）会议由监事会主席谷中和先生召集并主持。 二、监事会会议审议情况 1、关于公司 2025 年度投资计划的议案 经表决，同意 3 票，反对 0 票，弃权 0 票，通过此议案。 本议案需提交股东大会审议。 2、关于修订 ...

证券代码：601101 证券简称：昊华能源 公告编号：2025-004 北京昊华能源股份有限公司 公司第七届董事会第十三次会议于 2025 年 3 月 21 日 14 时 30 分，在公司三层会议室以现场与视频相结合的方式召开。会议通知 于 2025 年 3 月 11 日以通讯方式向全体董事、监事发出。 本次会议应出席董事 11 人，实到董事 11 人（含授权董事）。 公司董事柴有国先生因有其他公务不能出席本次会议，授权公司 董事张明川先生代为行使表决权。公司独立董事张保连先生、栾华 先生、宋刚先生视频出席本次会议。公司监事会主席、职工监事、 总法律顾问及相关部室负责人列席本次会议。 本次会议召开符合《公司法》《公司章程》的有关规定，会议 由董事长董永站先生主持。 二、董事会会议审议情况 第七届董事会第十三次会议决议公告 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： 本次董事会全部议案均获通过，无反对票、弃权票。 北京昊华能源股份有限公司（以下简称"公司"）本次董事 会以现场与视频相结合方式召开。公司 ...

证券代码：601101 证券简称：昊华能源 公告编号：2025-003 特此公告。 北京昊华能源股份有限公司 2025 年 3 月 18 日 发证机关：宁夏回族自治区应急管理厅 有 效 期：2025 年 03 月 12 日至 2028 年 03 月 12 日 编 号：(宁)MK 安许证〔2025〕007 号 企业名称：宁夏红墩子煤业有限公司红二煤矿 许可范围：煤炭开采 敬请广大投资者注意投资风险。 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 （红二煤矿）取得安全生产许可证的公告 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。 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 司红二煤矿于近日取得了《安全生产许可证》，具体情况如下： ...

证券代码：601101 证券简称：昊华能源 公告编号：2025-002 本公告之经营数据源自公司内部统计、未经审计，仅供投资 者及时了解公司生产经营概况之用，具体财务数据以公司正式披 露的 2024 年年度报告为准。 上述数据与内容并不是对公司未来经营情况做出的预测或保 证，公司董事会提醒投资者审慎使用该数据，敬请广大投资者注 意投资风险。 注：本表煤炭销量不含贸易量。 2024 年第四季度，受部分煤矿设备检修影响，煤炭产销量同 比有所下降；受煤炭价格下行影响，煤炭销售收入和毛利同比减 少。 2024 年，煤炭业务因销售价格同比下降较多，虽然产销量总 体同比略有增长，但毛利较上年同期有所下降；甲醇业务毛利同 比增加，主要是 2023 年同期受设备故障检修期延长影响，2023 年产销量较低。 北京昊华能源股份有限公司 关于 2024 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 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 10.40 CNY over the next six months [1][4]. Core Insights - The company is expected to experience stable growth due to both external and internal conditions being favorable, including the expansion of thermal coal production capacity and the contribution from coking coal [1][3]. - The report highlights that the company is actively seeking new coal resources to meet its production target of 30 million tons per year during the 14th Five-Year Plan [1][10]. - The dividend policy is encouraging, with a proposed dividend of 0.35 CNY per share for 2023, resulting in a dividend yield of 3.8% and a total dividend payout of 504 million CNY, which is a 48.5% payout ratio, showing growth compared to 2022 [1][10]. Summary by Sections 1. Company Overview - The company is leveraging its state-owned advantages to enhance coal-chemical synergy and is focusing on the integrated development of coal, electricity, and transportation [31][34]. - The Red Two Coal Mine is expected to contribute significantly to new production capacity, with a design capacity of 240 million tons per year [37]. 2. Industry Analysis - The thermal coal market is expected to stabilize, with a projected production of 957 million tons in Q2 2024, reflecting a year-on-year increase of 4.8% [2]. - Coking coal production is facing a decline due to oversupply, with a 4.2% decrease in production to 1.18 billion tons in Q2 2024 [2]. 3. Financial Performance - The company achieved a record coal sales volume of approximately 14 million tons in the first three quarters of 2024 [3]. - Revenue for 2023 was reported at 8.44 billion CNY, a decrease of 9.1% year-on-year, while net profit attributable to shareholders fell by 22.6% to 1.04 billion CNY [39]. - The company anticipates a compound annual growth rate (CAGR) of 13.7% in net profit from 2024 to 2026, with a projected revenue of 10.04 billion CNY in 2025 [4][14]. 4. Profitability and Cost Control - The company has implemented measures to control costs and improve operational efficiency, leading to a projected gross margin of 58.7% in 2024, increasing to 63% by 2026 [10][11]. - The chemical business is expected to improve profitability, with a gradual reduction in losses due to better cost management and the introduction of intelligent equipment [3][10]. 5. Valuation - The report estimates a valuation of 10 times earnings for 2025, leading to a target price of 10.40 CNY based on coal price trends and the company's future capacity expansion [4][14].

证券代码：601101 证券简称：昊华能源 公告编号：2024-031 北京昊华能源股份有限公司 关于召开 2024 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法律责任。 重要内容提示： 会议召开时间：2024 年 12 月 3 日(星期二) 下午 15:00-16:00 会议召开地点：上海证券交易所上证路演中心 （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 11 月 26 日(星期二)至 12 月 2 日(星期 一)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 bjhhnyzqb@163.com 进行提问。公司将在说明会 上对投资者普遍关注的问题进行回答。 北京昊华能源股份有限公司（以下简称"公司"）于 2024 年 10 月 29 日发布公司 2024 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 2024 年第三季度经营成果、财务状况，公司 计划于 2024 年 12 月 ...

Investment Rating - The investment rating for Haohua Energy (601101.SH) is "Buy (Maintain)" [1] Core Views - The report highlights that Haohua Energy's production capacity is gradually being released, with significant growth in coal production and sales expected. The company has also increased its dividend payout ratio, enhancing shareholder value [4][7]. Financial Performance - For the first three quarters of 2024, Haohua Energy achieved operating revenue of 6.844 billion yuan, a year-on-year increase of 11.82%. The net profit attributable to shareholders was 1.119 billion yuan, up 10.74% year-on-year [4]. - In Q3 2024, the company reported operating revenue of 2.109 billion yuan, a year-on-year increase of 7%, but a quarter-on-quarter decrease of 9.2%. The net profit attributable to shareholders was 260 million yuan, down 14% year-on-year and down 36.1% quarter-on-quarter [4]. Coal Business - The coal production and sales have increased due to the joint trial operation of the Hong Er Mine. The company achieved a coal production/sales volume of 14.0454 million/14.0574 million tons in the first three quarters of 2024, representing a year-on-year increase of 9.98%/10.04% [5]. - The average selling price of coal was 431.8 yuan/ton, a decrease of 2.72% year-on-year, while the cost per ton was 203.9 yuan, an increase of 4.68% year-on-year [5]. Non-Coal Business - In the first three quarters of 2024, the methanol business saw a significant increase in production and sales, with volumes of 332,500/306,400 tons, up 51.57%/22.59% year-on-year. However, the selling price was 1,844.1 yuan/ton, a slight decrease of 0.17% year-on-year [6]. - The railway business also showed improvement, with a total transport volume of 4.9124 million tons, a year-on-year increase of 16.84% [6]. Dividend and Growth Potential - The company increased its dividend payout ratio to 48.46%, corresponding to a dividend yield of 5.4% based on the annualized profit for the first three quarters of 2024 [7]. - By the end of 2023, the company had officially put the Hong Yi Mine (240,000 tons/year) into production and the Hong Er Mine (240,000 tons/year) into trial operation, with a total approved coal production capacity of 19.3 million tons. The company aims to reach a coal production capacity of 30 million tons by the end of the 14th Five-Year Plan, indicating a potential growth of 55% in capacity [7]. Earnings Forecast - The report forecasts that Haohua Energy's total revenue for 2024-2026 will be 9.1 billion, 9.8 billion, and 10.6 billion yuan, with net profits of 1.4 billion, 1.6 billion, and 1.8 billion yuan respectively. The price-to-earnings ratios are projected to be 9.55, 8.41, and 7.66 times [7].

Investment Rating - The report maintains a "Cautious Recommendation" rating for the company [3] Core Views - The company's revenue for the first three quarters of 2024 reached 6.844 billion yuan, a year-on-year increase of 11.82%, while the net profit attributable to shareholders was 1.119 billion yuan, up 10.74% year-on-year [1] - In Q3 2024, the company's revenue was 2.109 billion yuan, showing a year-on-year growth of 6.95% but a quarter-on-quarter decline of 9.17%. The net profit attributable to shareholders was 260 million yuan, down 13.96% year-on-year and 36.04% quarter-on-quarter [1] - The company aims to achieve a coal production capacity of 30 million tons by the end of the 14th Five-Year Plan and is actively seeking quality coal mine projects in resource-rich areas [1] Summary by Sections Financial Performance - For Q1-Q3 2024, coal production and sales reached 14.0454 million tons and 14.0574 million tons, respectively, both up 10.0% year-on-year. The average selling price of coal was 431.8 yuan/ton, down 2.7% year-on-year, while the cost was 203.9 yuan/ton, up 4.7% year-on-year [1] - In Q3 2024, coal production was 4.5437 million tons, showing a year-on-year increase of 6.6% but a quarter-on-quarter decrease of 2.5%. The sales volume was 4.5556 million tons, with a year-on-year increase of 6.2% but a quarter-on-quarter decrease of 1.4% [1] - The company's methanol production and sales for Q1-Q3 2024 were 332,500 tons and 306,400 tons, respectively, with a year-on-year increase of 51.5% and 40.6%. The methanol business had a gross margin of -6.5%, indicating a reduction in losses [1] Future Outlook - The company forecasts net profits attributable to shareholders for 2024-2026 to be 1.270 billion yuan, 1.456 billion yuan, and 1.625 billion yuan, respectively, with corresponding EPS of 0.88 yuan, 1.01 yuan, and 1.13 yuan per share [2][4] - The PE ratios for 2024, 2025, and 2026 are projected to be 11, 9, and 8 times, respectively, based on the closing price on October 28, 2024 [2][4]

ि点证券 煤炭/煤炭开采 Q3 产销下滑业绩承压，关注成长性与高分红 昊华能源（601101.SH） 2024 年 10 月 29 日 ——公司信息更新报告 投资评级：买入（维持） 张绪成（分析师） zhangxucheng@kysec.cn 证书编号：S0790520020003 Q3 产销下滑业绩承压，关注成长性与高分红，维持"买入"评级 公司发布 2024 年三季报，2024 年前三季度实现营收 68.4 亿元，同比+11.8%； 实现归母净利润 11.2 亿元，同比+10.7%；实现扣非后归母净利润 11 亿元，同比 +13.6%。单 Q3 来看，实现营收 21.1 亿元，环比-9.2%；实现归母净利润 2.6 亿 元，环比-36%，实现扣非后归母净利润 2.3 亿元，环比-44.8%。鉴于 Q3 煤炭产 销下滑及甲醇转亏，我们下调 2024-2026 年盈利预测，预计 2024-2026 年归母净 利润 15.2/17.7/18.4 亿元（前值 17.6/19.7/20.3 亿元），同比+46.3%/+16%/+4.1%； EPS 为 1.06/1.23/1.28 元，对应当前股价 PE 为 8.8 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥2,109,039,534.86, representing a year-on-year increase of 6.95%[2] - The net profit attributable to shareholders for Q3 2024 was ¥260,373,179.78, a decrease of 13.93% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥232,030,802.20, down 25.44% year-on-year[2] - The basic earnings per share for Q3 2024 was ¥0.18, a decrease of 14.29% compared to the same period last year[3] - Total operating revenue for the first three quarters of 2024 reached CNY 6,843,621,874.98, an increase of 11.85% compared to CNY 6,120,177,707.03 in the same period of 2023[16] - Operating profit for the first three quarters of 2024 was CNY 1,996,126,545.15, compared to CNY 1,859,240,962.29 in 2023, indicating a growth of 7.35%[18] - Net profit for the first three quarters of 2024 was CNY 1,639,559,652.12, an increase from CNY 1,515,247,373.50 in 2023, representing a growth of 8.19%[18] - The net profit attributable to the parent company for Q3 2024 is CNY 1,119,287,048.27, an increase from CNY 1,010,745,503.98 in Q3 2023, representing a growth of approximately 10.7%[19] - The total comprehensive income for Q3 2024 is CNY 1,639,184,214.32, compared to CNY 1,499,223,975.25 in Q3 2023, indicating an increase of about 9.3%[19] Assets and Liabilities - The total assets at the end of Q3 2024 were ¥29,508,146,933.56, a decrease of 1.37% from the end of the previous year[3] - Total assets as of the end of the third quarter of 2024 were CNY 29,508,146,933.56, a decrease from CNY 29,917,331,224.99 at the end of the third quarter of 2023[15] - Total liabilities as of the end of the third quarter of 2024 were CNY 14,389,033,355.82, down from CNY 15,365,214,398.21 in the previous year[15] - Current liabilities totaled CNY 5,531,753,271.06, a decrease from CNY 6,475,327,631.65 in the same period last year[15] - The company's total equity increased to CNY 15,119,113,577.74 from CNY 14,552,116,826.78 year-on-year[15] - The total liabilities decreased to CNY 1,914,332,169.94 in Q3 2024 from CNY 3,161,850,127.40 in Q3 2023, a reduction of 39.38%[23] Cash Flow - The company reported a net cash flow from operating activities of ¥3,474,236,452.03 for the year-to-date, an increase of 13.49%[2] - Cash flow from operating activities for the first three quarters of 2024 is CNY 9,105,594,855.28, up from CNY 8,433,517,218.83 in the same period of 2023, reflecting a growth of approximately 7.9%[20] - The net cash flow from operating activities for the first three quarters of 2024 is CNY 3,474,236,452.03, compared to CNY 3,061,321,086.03 in 2023, marking an increase of about 13.5%[20] - The cash flow from investing activities for the first three quarters of 2024 shows a net outflow of CNY 873,812,507.19, an improvement from a net outflow of CNY 1,051,362,909.23 in the same period of 2023[21] - Cash flow from financing activities for the first three quarters of 2024 results in a net outflow of CNY 2,758,450,177.17, compared to a net outflow of CNY 1,815,513,210.06 in 2023, indicating a significant increase in cash outflow[21] Research and Development - Research and development expenses increased by 534.63% compared to the same period last year, indicating a significant investment in new projects[7] - Research and development expenses for the first three quarters of 2024 amounted to CNY 5,748,768.13, significantly higher than CNY 905,849.03 in the same period of 2023, showing an increase of 533.56%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 31,605[10] - The largest shareholder, Beijing Energy Group Co., Ltd., holds 911,613,544 shares, accounting for 63.31% of total shares[10] Other Financial Metrics - The weighted average return on equity for Q3 2024 was 2.24%, a decrease of 0.54 percentage points year-on-year[3] - The company experienced a 243.09% increase in prepayments, primarily due to increased coal procurement and transportation costs[7] - The company has no changes in the top 10 shareholders or their participation in margin trading[12] - There are no significant reminders or additional important information regarding the company's operational status during the reporting period[12]