昊华国际已取得北京市商务局《企业境外投资注销确认 函》，及香港特别行政区公司注册处《解散公告通知》,并 已按照相关程序完成了境内外注销登记手续。 本次注销完成后，昊华国际将不再纳入公司合并财务报 表范围，不会对公司整体业务发展和盈利水平产生重大影 响，不存在损害公司及股东利益的情形。 特此公告。 北京昊华能源股份有限公司 关于全资子公司完成注销的公告 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。 2024 年 8 月 23 日，北京昊华能源股份有限公司（以下 简称"公司"）第七届董事会第十一次会议审议通过了《关 于处置昊华能源国际（香港）有限公司的议案》，同意公司 采用清算退出方式对全资子公司昊华能源国际（香港）有限 公司（以下简称"昊华国际"）进行处置。 证券代码：601101 证券简称：昊华能源 公告编号：2025-021 2025 年 6 月 18 日 北京昊华能源股份有限公司 ...

证券代码：601101 证券简称：昊华能源 公告编号：2025-022 北京昊华能源股份有限公司 第七届董事会第十五次会议决议公告 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： 北京昊华能源股份有限公司（以下简称"昊华能源"或"公 司"）本次董事会以通讯表决方式召开，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 二、董事会会议审议情况 1.关于更换公司董事长的议案 经表决，同意 10 票，反对 0 票，弃权 0 票，通过此议案。 公司原董事长董永站先生已退休，并辞去董事长、董事等职 务。同意选举薛令光先生为公司董事长，任期自公司董事会审议 通过之日起至第七届董事会届满时止。 根据《公司章程》第八条规定"董事长为公司的法定代表人"， 公司的法定代表人将由董永站先生变更为薛令光先生，同意授权 公司经理层办理工商变更登记事宜。 此议案已经公司董事会提名委员会审议通过。 2.关于补选公司董事会提名委员会成员的议案 经表决，同意 10 票，反对 0 票，弃权 0 票 ...

证券代码：601101 证券简称：昊华能源 公告编号：2025-022 北京昊华能源股份有限公司 第七届董事会第十五次会议决议公告 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： ? 北京昊华能源股份有限公司（以下简称"昊华能源"或"公 司"）本次董事会以通讯表决方式召开，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十五次会议以通讯表决形式召开，通知 及材料于 2025 年 6 月 10 日以通讯方式向全体董事发出，本次会 议表决截止时间为 2025 年 6 月 18 日 15 时。 本次会议应参加表决的董事 10 人，实际参加表决的董事 10 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 经表决，同意 10 票，反对 0 票，弃权 0 票，通过此议案。 公司原董事长董永站先生已退休，并辞去董事长、董事等职 务。同意选举薛令光先生为公司董事长，任期自公司董事会审议 通过之日起至第七届董事会届满时止。 ...

会成员人数低于法定最低人数，能够保证董事会正常运作。 公司将按照法定程序尽快完成董事长等相应职务的补选工 作。 2025 年 6 月 6 日，北京昊华能源股份有限公司（以下简 称"公司"）董事会收到公司董事长董永站先生的书面辞职 报告，董永站先生因已达到法定退休年龄，并已办理退休手 续，申请辞去公司第七届董事会董事长、董事、战略委员会 主任委员、提名委员会委员、法律与合规管理委员会委员等 职务。 | 是否存 | 是否继续在 | 在未履 | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓 | 离任 | 离任 | 原定任期 | 离任 | 上市公司及 | 行完毕 | 名 | 职务 | 时间 | 到期日 | 原因 | 其控股子公 | | | | | 的公开 | 司任职 | 承诺 | | | | | | | | | | | | | | | 公 | 司 | 第 | 七 | 届 | 董 | 董 | 事会董事长、董 | ...

Core Viewpoint - The chairman of Haohua Energy, Dong Yongzhan, has submitted his resignation due to reaching the legal retirement age, and he has completed the retirement procedures [1] Group 1 - Dong Yongzhan has resigned from multiple positions including chairman of the seventh board of directors, director, and various committee roles [1] - The resignation is effective immediately upon the delivery of the resignation report to the board [1] - The company will expedite the process of selecting replacements for the vacated positions [1]

Investment Rating - The investment rating for the coal industry is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes that marginal improvements in supply and demand have stabilized coal prices, indicating a potential recovery in coal asset allocation [1][4] - The coal sector is viewed as entering a "Golden Era 2.0," with core value assets expected to rise again due to favorable macroeconomic policies and capital market support [4][12] Summary by Sections Investment Logic - The current weak domestic economic performance and external pressures, such as tariff policies, create a favorable environment for coal as a stable dividend investment [4][12] - The cyclical elasticity of coal stocks is highlighted, with both thermal and coking coal prices expected to rebound as supply-demand fundamentals improve [4][12] - The report notes a trend of increasing dividends among coal companies, indicating a strong response to policy support and a shift towards higher dividend payouts [4][12] Key Indicators Overview - The coal sector saw a slight increase of 1.03% this week, outperforming the CSI 300 index by 1.21 percentage points [7][9] - The current PE ratio for the coal sector is 11.9, and the PB ratio is 1.19, ranking low among all A-share industries [9] Thermal Coal Industry Chain - As of May 23, the Qinhuangdao Q5500 thermal coal price is 611 CNY/ton, reflecting a slight decrease of 0.49% [3][15] - The operating rate of 442 coal mines in Shanxi, Shaanxi, and Inner Mongolia is 81.3%, showing a minor decline [15] - Daily coal consumption by coastal power plants increased to 187.6 thousand tons, up 3.93% from the previous period [15] Coking Coal Industry Chain - The report indicates a slight decrease in port coking coal prices, with the average price at 1300 CNY/ton [16] - The market price for coking coal in Shanxi is reported at 1130 CNY/ton, down 4.24% [16] Company Announcements - Several coal companies have announced mid-term dividend plans, reflecting a trend towards higher shareholder returns [4][12] Industry Dynamics - The report discusses the resilience of black demand and the overall stability of the coal market despite recent price fluctuations [3][4]

(一)股东会召开的时间：2025 年 5 月 23 日 证券代码：601101 证券简称：昊华能源 公告编号：2025-019 北京昊华能源股份有限公司 2024年年度股东会决议公告 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 一、会议召开和出席情况 (二)股东会召开的地点：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： | 1、出席会议的股东和代理人人数 | 231 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,009,908,953 | | 3、出席会议的股东所持有表决权股份数占公司有 | 70.1326 | | 表决权股份总数的比例（%） | | (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合《公司法》 ...

国浩律师（北京）事务所 关于 北京昊华能源股份有限公司 2024 年年度股东会的 法律意见书 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 2024 年年度股东会（以下简称 "本次股东会"）。现根据《中华人民共和国公司法》（以下简称"《公司法》"） 《上市公司股东会规则》（以下简称"股东会《股东会规则》"）《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，对公司本次股东会的相关事宜出具本法律意见书。 2024 年年度股东会的 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 地址：北京市朝阳区东三环北路38号泰康金融大厦9层 邮编：100026 电话：010-65890699 传真：010-65176800 电子信箱：bjgrandall@grandall.c ...

Core Viewpoint - The report from Guosheng Securities indicates a significant decline in coal imports and a downward trend in reliance on thermal coal, with a projected annual decrease in thermal coal imports by 4.9% for 2025 [1][3]. Group 1: Coal Production and Import Trends - In April 2025, the raw coal production decreased by 5 million tons month-on-month, with a total output of 390 million tons, reflecting a year-on-year growth of 3.8% [2]. - The total coal imports in April 2025 were 37.83 million tons, a decrease of 16.41% compared to the same month last year [3]. - For the first four months of 2025, coal imports totaled 152.67 million tons, down 5.3% year-on-year [3]. Group 2: Power Generation Insights - In April 2025, the industrial power generation was 711.1 billion kWh, showing a year-on-year increase of 0.9% [4]. - The thermal power generation in April 2025 saw a year-on-year decline of 2.3%, maintaining the same decline rate as in March [4]. - Renewable energy sources such as wind and solar power showed accelerated growth rates of 12.7% and 16.7% respectively in April 2025 [4]. Group 3: Steel Production and Market Dynamics - The crude steel production in April 2025 was 86.02 million tons, remaining flat year-on-year [5]. - The average daily iron water production from 247 sample steel mills was 2.448 million tons, reflecting a year-on-year increase of 3.3% [5]. - The market anticipates a seasonal peak in steel demand, with potential downward pressure on iron water production due to slowing inventory depletion [5]. Group 4: Investment Recommendations - The report recommends key coal enterprises such as China Shenhua (601088) and China Coal Energy (601898) for investment [6]. - It highlights the potential of companies like Xinji Energy (601918) and Shaanxi Coal (601225) based on performance metrics [6][7]. - The report also notes the importance of monitoring the impact of coal imports and domestic policy changes on market dynamics [5][6].

Investment Rating - The industry investment rating is maintained as "Increase" [6] Core Viewpoints - The coal mining industry is expected to see improved demand as effective supply decreases, presenting a good investment opportunity since the beginning of the year [1] - In April 2025, the raw coal production decreased by 50 million tons month-on-month, with an annual growth rate of 3.8% [1][12] - The forecast for 2025 indicates a net increase in production of only 55-60 million tons, with a year-on-year growth rate of approximately 1.2-1.3%, continuing to slow down compared to 2024 [1][12] Summary by Sections Production - In April 2025, the raw coal production was 390 million tons, with a year-on-year increase of 3.8% [1][12] - The average daily production in April was 12.98 million tons [1][12] Import - In April 2025, coal imports were 37.83 million tons, a decrease of 16.41% year-on-year [2][16] - For the first four months of 2025, total coal imports were 152.67 million tons, down 5.3% year-on-year [2][16] - The forecast for 2025 suggests that thermal coal imports may stabilize or decline slightly, with an expected total of around 385 million tons, a year-on-year decrease of 4.9% [2][16] Demand - In April 2025, the industrial power generation was 711.1 billion kWh, with a year-on-year growth of 0.9% [3][19] - The industrial thermal power generation decreased by 2.3% year-on-year, remaining stable compared to March [3][19] - The growth rates for wind and solar power generation increased to 12.7% and 16.7% respectively in April [3][19] Investment Recommendations - Key recommendations include major coal enterprises such as China Shenhua (H+A), China Coal Energy (H+A), and turnaround opportunities like China Qinfa [5][37] - Other recommended stocks include new energy companies with strong performance such as Xinjie Energy, Shaanxi Coal, and Electric Power Energy [5][37] - Companies with potential for future growth include Huayang Co. and Gansu Energy [5][37]