证券代码：601101 证券简称：昊华能源 公告编号：2025-026 北京昊华能源股份有限公司 第七届监事会第十三次会议决议公告 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。 （一）本次监事会会议的召开符合有关法律、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 8 月 12 日以电子方式发出。 经表决，同意 3 票，反对 0 票，弃权 0 票，通过此议案。 （二）关于公司 2025 年半年度报告全文及摘要的议案 经表决，同意 3 票，反对 0 票，弃权 0 票，通过此议案。 特此公告。 一、监事会会议召开情况 （三）监事会会议于 2025 年 8 月 23 日 11:30 在鄂尔多斯市康 巴什区以现场方式召开。 （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。公司监事秦磊先生委托监事谷中和先 生参加会议并进行表决。 （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 （一）关于《北京昊华能源股份有限公司对京能集团财务有限 公司的 ...

Core Viewpoint - The report evaluates the financial risk management of Beijing Jingneng Group Financial Co., Ltd. (Jingneng Finance) and concludes that it has a sound internal control system and effective risk management practices, with no significant risk events reported as of June 30, 2025 [1][6]. Group 1: Basic Information of Jingneng Finance - Jingneng Finance is a non-bank financial institution approved by the National Financial Regulatory Administration, with a registered capital of 5 billion RMB, where Beijing Energy Group holds a 60% stake [1]. - The company’s business scope includes accepting deposits, providing loans, handling bill discounting, and offering financial advisory services among others [1]. Group 2: Internal Control Overview - Jingneng Finance has a robust governance structure with a clear division of responsibilities among its shareholders, board of directors, supervisory board, and senior management [2]. - The company has established a comprehensive risk management system covering liquidity, credit, market, compliance, and operational risks, with a structured approach to risk identification, assessment, and monitoring [2][3]. Group 3: Operational and Risk Management Status - As of June 30, 2025, Jingneng Finance reported total assets of 50.08 billion RMB, with cash and loans making up a significant portion of its assets [6][7]. - The company adheres to relevant laws and regulations, ensuring compliance in its financial operations and maintaining a strong internal control and risk management framework [7]. Group 4: Regulatory Compliance and Risk Assessment - Jingneng Finance meets the regulatory indicators set by the Enterprise Group Financial Company Management Measures, indicating compliance with national financial supervision [7][8]. - The company has not identified any significant defects in its risk control systems related to financial reporting, lending, investment, and information systems as of the evaluation date [7].

证券代码：601101 证券简称：昊华能源 公告编号：2025-026 北京昊华能源股份有限公司 第七届监事会第十三次会议决议公告 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。 （一）关于《北京昊华能源股份有限公司对京能集团财务有限 公司的风险持续评估报告》的议案 经表决，同意 3 票，反对 0 票，弃权 0 票，通过此议案。 （二）关于公司 2025 年半年度报告全文及摘要的议案 一、监事会会议召开情况 经表决，同意 3 票，反对 0 票，弃权 0 票，通过此议案。 特此公告。 （一）本次监事会会议的召开符合有关法律、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 8 月 12 日以电子方式发出。 （三）监事会会议于 2025 年 8 月 23 日 11:30 在鄂尔多斯市康 巴什区以现场方式召开。 （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。公司监事秦磊先生委托监事谷中和先 生参加会议并进行表决。 （五）会议由监事会主席谷中和先生召集并主持。 ...

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： 证券代码：601101 证券简称：昊华能源 公告编号：2025-025 北京昊华能源股份有限公司 第七届董事会第十六次会议决议公告 1.关于 2025 年上半年度董事会授权行权情况报告的议案 经表决，同意 10 票，反对 0 票，弃权 0 票，通过此议案。 2.关于修订《北京昊华能源股份有限公司贯彻落实"三重一 大"决策制度实施办法》及决策事项清单的议案 经表决，同意 10 票，反对 0 票，弃权 0 票，通过此议案。 3.关于《北京昊华能源股份有限公司对京能集团财务有限公 司的风险持续评估报告》的议案 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的方式召开。公司董事孙力先生因有其 他事务不能出席本次会议，授权公司董事柴有国先生代为行使表 决权。 本次董事会议案均获通过，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十六次会议于 2025 年 8 月 23 日 9 时 30 分，在鄂尔多斯市康巴什区以现场与视频 ...

北京昊华能源股份有限公司 章 程（草案） 二〇二五年【八】月 | 第一章 1 - 总则 . | | --- | | 第二章 - 3 - 经营宗旨和范围 . | | 第三章 股份 . | | 第一节 股份发行 . | | 第二节 股份增减和回购 . | | 第三节 股份转让 | | 第四章 股东和股东会 - 10 - | | 第一节 股东的一般规定 - 10 - | | 第二节 控股股东和实际控制人 | | 第四节 股东会的召集 - 17 - | | 第五节 股东会的提案与通知 - 19 - | | 第六节 股东会的召开 . | | 第七节 股东会的表决和决议 - 25 - | | 第五章 党的委员会 | | 第六章 董事会. | | 第一节 - 30 - 董事 | | 第二节 独立董事 | | 第三节 董事会 - 38 - | | 第四节 董事会专门委员会 - 42 - | | 第七章 总经理及其他高级管理人员 - 45 - | | 第八章 财务会计制度、利润分配和审计 - 48 - | | 第一节 财务会计制度 - 48 - | | 第二节 内部审计 - 51 - | | 第三节 会计师事务所的聘任 - 5 ...

[Section 1 Definitions](index=4&type=section&id=Section%201%20Definitions) This section provides definitions of key terms used throughout the report, ensuring clarity and consistent understanding of the content [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter defines common terms used in the report, including company names, controlling shareholders, major subsidiaries, and project names, ensuring clear understanding of the content - The report defines common terms such as 'Jingneng Group', 'Haohua Energy', and 'Haohua Jingmei' to clearly refer to the reporting entity and its related parties[7](index=7&type=chunk) [Section 2 Company Profile and Key Financial Indicators](index=4&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section introduces the company's basic information and presents its key accounting data and financial indicators for the reporting period [I. Company Information](index=4&type=section&id=I.%20Company%20Information) Presents the company's basic registration information, including Chinese name, abbreviation, foreign name, and legal representative - The company's Chinese name is Beijing Haohua Energy Co., Ltd., abbreviated as Haohua Energy, with Xue Lingguang as the legal representative[9](index=9&type=chunk) [II. Contact Person and Information](index=4&type=section&id=II.%20Contact%20Person%20and%20Information) Provides contact information for the company's Board Secretary and Securities Affairs Representative, including name, address, phone, fax, and email - The Board Secretary is Zhang Mingchuan, the Securities Affairs Representative is Zhen Chao, and the contact address for both is No. 2 Xinqiao South Street, Mentougou District, Beijing[10](index=10&type=chunk) [III. Brief Introduction to Changes in Basic Information](index=4&type=section&id=III.%20Brief%20Introduction%20to%20Changes%20in%20Basic%20Information) Discloses the company's registered and office addresses, stating no historical changes during the reporting period - The company's registered and office addresses are both No. 2 Xinqiao South Street, Mentougou District, Beijing, with no changes during the reporting period[11](index=11&type=chunk) [IV. Brief Introduction to Changes in Information Disclosure and Document Placement Locations](index=5&type=section&id=IV.%20Brief%20Introduction%20to%20Changes%20in%20Information%20Disclosure%20and%20Document%20Placement%20Locations) Lists the company's designated information disclosure newspapers, website address, and semi-annual report placement locations, with no changes during the reporting period - The company's designated information disclosure newspapers are China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily, with the website being www.sse.com.cn[13](index=13&type=chunk) [V. Brief Introduction to Company Shares](index=5&type=section&id=V.%20Brief%20Introduction%20to%20Company%20Shares) Provides information on the company's share type, listing exchange, abbreviation, and code - The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation Haohua Energy and code 601101[14](index=14&type=chunk) [VII. Company's Key Accounting Data and Financial Indicators](index=5&type=section&id=VII.%20Company%27s%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's key financial indicators significantly declined, with operating revenue down 7.17% year-on-year and net profit attributable to parent down 47.82%, primarily due to a sharp drop in coal prices Key Accounting Data for H1 2025 | Indicator | Current Period (Jan-Jun) (Yuan) | Prior Period (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,395,012,178.83 | 4,734,582,340.12 | -7.17 | | Total Profit | 668,122,595.03 | 1,459,572,525.77 | -54.22 | | Net Profit Attributable to Listed Company Shareholders | 448,175,943.46 | 858,913,868.49 | -47.82 | | Net Cash Flow from Operating Activities | 1,052,015,590.81 | 2,496,605,480.21 | -57.86 | | Net Assets Attributable to Listed Company Shareholders (Period End) | 11,913,738,008.83 | 11,963,496,340.93 | -0.42 | | Total Assets (Period End) | 28,920,449,834.04 | 28,455,977,030.37 | 1.63 | Key Financial Indicators for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | 0.31 | 0.60 | -48.33 | | Diluted Earnings Per Share (Yuan/share) | 0.31 | 0.60 | -48.33 | | Weighted Average Return on Net Assets (%) | 3.75 | 7.34 | Decrease of 3.59 percentage points | | Weighted Average Return on Net Assets After Deducting Non-recurring Gains and Losses (%) | 3.77 | 7.45 | Decrease of 3.68 percentage points | - During the reporting period, net profit attributable to shareholders and other financial indicators significantly declined, primarily due to a sharp drop in coal prices and a year-on-year decrease in the company's self-produced coal revenue[17](index=17&type=chunk) [IX. Non-recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Discloses non-recurring gains and losses items and their total amount of -1,396,899.74 Yuan for the reporting period Non-recurring Gains and Losses Items for H1 2025 | Non-recurring Gains and Losses Item | Amount (Yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets, including the reversal of impairment provisions | 5,567,310.01 | | Government subsidies recognized in current profit or loss, excluding those closely related to the company's normal operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit or loss | 182,852.42 | | Other non-operating income and expenses apart from the above | -13,350,664.87 | | Other profit and loss items that meet the definition of non-recurring gains and losses | -1,612,882.19 | | Less: Income tax impact | -1,961,187.65 | | Minority interest impact (after tax) | -5,855,297.24 | | Total | -1,396,899.74 | [Section 3 Management Discussion and Analysis](index=7&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) This section provides management's discussion and analysis of the company's operations, financial performance, and future outlook during the reporting period [I. Explanation of the Company's Industry and Main Business during the Reporting Period](index=7&type=section&id=I.%20Explanation%20of%20the%20Company%27s%20Industry%20and%20Main%20Business%20during%20the%20Reporting%20Period) The company's main businesses are coal production and sales, methanol production and sales, and railway dedicated line transportation, belonging to the mining industry. During the reporting period, affected by weak global economic recovery and declining downstream coal demand, coal prices fell sharply, and industry profitability significantly declined - The company's main businesses are coal production and sales, methanol production and sales, and railway dedicated line transportation, with primary products being coal and methanol[20](index=20&type=chunk) - During the reporting period, weak global economic recovery, declining demand in downstream coal industries, and further easing of domestic coal supply and demand led to a significant year-on-year drop in coal prices, and a substantial decrease in coal enterprise profitability, adversely affecting the industry[20](index=20&type=chunk) [II. Discussion and Analysis of Operations](index=7&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) Facing a downturn in the coal market, the company actively responded by strengthening budget control, stabilizing and increasing production, strictly controlling costs, and expanding 'coal + logistics' businesses. Despite a year-on-year decrease in average coal prices, sales of self-produced coal and railway dedicated line shipments increased - In the first half of 2025, affected by weakening coal demand, the coal industry faced an unfavorable situation of 'three increases and three decreases': simultaneous expansion of output, inventory, and loss-making areas, coupled with a comprehensive contraction in prices, profits, and capacity utilization[20](index=20&type=chunk) - During the reporting period, the company achieved self-produced coal sales of **9.7126 million tons**, a year-on-year increase of **0.2109 million tons**[21](index=21&type=chunk) - During the reporting period, the company achieved railway dedicated line shipments of **4.0521 million tons**, a year-on-year increase of **0.7752 million tons**[21](index=21&type=chunk) - During the reporting period, the average coal price decreased by **106.72 Yuan/ton** year-on-year, and apart from coal production and sales volume, the company's other key operating indicators showed varying degrees of decline year-on-year[21](index=21&type=chunk) [(III) Key Work Accomplishments during the Reporting Period](index=7&type=section&id=(III)%20Key%20Work%20Accomplishments%20during%20the%20Reporting%20Period) During the reporting period, the company primarily focused on strengthening safety production management, implementing diverse measures to counter market downturns, continuously deepening cost reduction and efficiency improvement, and steadily advancing key projects to address market challenges and enhance operational efficiency - Comprehensively strengthened safety production management, actively implemented 'three responsibilities and three musts' requirements, enhanced safety precautions during critical periods, and conducted safety theme education activities[21](index=21&type=chunk)[22](index=22&type=chunk) - Aggregated diverse measures to counter market downturns, optimized engineering deployment to increase production and sales, strengthened coal quality source control, adjusted sales structure, and leveraged logistics advantages[22](index=22&type=chunk)[23](index=23&type=chunk) - Continuously deepened cost reduction and efficiency improvement through optimizing process flows, strengthening budget management, and disposing of inefficient assets (Haohua International has completed deregistration, recovering **21.6673 million Yuan**). Guotai Chemical achieved a total profit of **-7.9732 million Yuan** in the first half, reducing losses by **58.7263 million Yuan** year-on-year[23](index=23&type=chunk) - Key projects steadily advanced, including smart mine construction and digital transformation (Gaojialiang Coal Mine underground AI video application, Hongdunzi Coal Industry AI video intelligent analysis system acceptance), distributed photovoltaic green projects implementation, and continued progress on the Hongqingliang railway dedicated line project[24](index=24&type=chunk) [III. Analysis of Core Competitiveness during the Reporting Period](index=8&type=section&id=III.%20Analysis%20of%20Core%20Competitiveness%20during%20the%20Reporting%20Period) The company's core competitiveness lies in shareholder advantages (Jingneng Group's synergistic effects), product environmental characteristics (low-sulfur, low-phosphorus eco-friendly coal), technological advantages (application of intelligent mining technology), and cultural and management advantages ('Five-Essence' management and team building) - Shareholder Advantage: Leveraging Jingneng Group's background as a super-large energy group, utilizing synergistic advantages in coal, electricity, and new energy to mitigate market volatility risks[25](index=25&type=chunk) - Product Environmental Advantage: The company's Inner Mongolia thermal coal products are low-sulfur, low-phosphorus eco-friendly coal types, which help reduce pollutant emissions[25](index=25&type=chunk) - Technological Advantage: Gaojialiang Coal Mine and Hongqingliang Coal Mine have stably applied intelligent mining technology, while Hongdunzi Coal Industry's Hongyi Coal Mine and Honger Coal Mine have been built and put into operation as smart mines[25](index=25&type=chunk) - Cultural and Management Advantage: Comprehensively and deeply promoted the integration of cultural construction with 'Five-Essence' management, continuously carried out 'Three Basics, Nine Strengths' team building, and enhanced management efficiency[26](index=26&type=chunk) [IV. Key Operating Performance during the Reporting Period](index=9&type=section&id=IV.%20Key%20Operating%20Performance%20during%20the%20Reporting%20Period) During the reporting period, the company's operating revenue decreased by 7.17% year-on-year, mainly due to declining coal prices, though Xinda Trading's coal logistics business grew. Operating costs increased by 25.74% due to increased logistics business. Net cash flow from operating activities significantly decreased by 57.86%, primarily due to reduced cash inflows from lower coal prices Analysis of Changes in Financial Statement Items | Item | Current Period (Yuan) | Prior Period (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,395,012,178.83 | 4,734,582,340.12 | -7.17 | | Operating Cost | 2,933,269,998.52 | 2,332,882,059.79 | 25.74 | | Selling Expenses | 84,487,322.96 | 80,806,944.87 | 4.55 | | Administrative Expenses | 267,738,180.65 | 297,100,854.64 | -9.88 | | Financial Expenses | 130,452,631.93 | 150,099,412.26 | -13.09 | | R&D Expenses | 1,016,026.74 | 4,659,924.02 | -78.20 | | Net Cash Flow from Operating Activities | 1,052,015,590.81 | 2,496,605,480.21 | -57.86 | | Net Cash Flow from Investing Activities | -409,949,270.06 | -609,180,015.78 | Not applicable | | Net Cash Flow from Financing Activities | -38,690,137.83 | -2,118,651,662.27 | Not applicable | - Reasons for change in operating revenue: primarily due to a significant decline in coal prices affecting self-produced coal revenue year-on-year, and an increase in operating revenue from Xinda Trading's expanded coal logistics business; combined, these factors led to a **7.17%** year-on-year decrease in operating revenue for the current period[27](index=27&type=chunk) - Reasons for change in net cash flow from operating activities: primarily due to a significant decline in coal prices during the current period, leading to a year-on-year decrease in cash received from the company's self-produced coal[27](index=27&type=chunk) [(III) Assets, Liabilities Analysis](index=9&type=section&id=(III)Assets%2C%20Liabilities%20Analysis) At the end of the reporting period, the company's total assets increased by 1.63% year-on-year, while net assets attributable to the parent slightly decreased by 0.42%. Notes receivable significantly decreased by 82.79%, mainly due to maturity and settlement. Construction in progress decreased by 35.66%, primarily due to the transfer of Hongdunzi Coal Industry's Honger Coal Mine project to fixed assets. Short-term borrowings increased by 39.90%, mainly for new borrowings to supplement working capital Changes in Assets and Liabilities | Item Name | Current Period End (Yuan) | Proportion of Total Assets (%) | Prior Period End (Yuan) | Proportion of Total Assets (%) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 4,871,760,357.18 | 16.85 | 4,163,578,591.59 | 14.63 | 17.01 | | Notes Receivable | 19,587,748.68 | 0.07 | 113,843,672.14 | 0.40 | -82.79 | | Construction in Progress | 405,542,924.46 | 1.40 | 630,358,452.98 | 2.22 | -35.66 | | Short-term Borrowings | 770,000,000.00 | 2.66 | 550,399,375.58 | 1.93 | 39.90 | - Notes receivable decreased by **82.79%**, mainly due to the maturity and settlement of Xinda Trading's notes receivable at the end of the prior year[29](index=29&type=chunk) - Construction in progress decreased by **35.66%**, mainly because the remaining minor projects of Hongdunzi Coal Industry's Honger Coal Mine reached their intended usable state, and construction in progress was transferred to fixed assets during this period[29](index=29&type=chunk) - Short-term borrowings increased by **39.90%**, mainly due to new borrowings by Hongdunzi Coal Industry and Dongtong Railway Company to supplement working capital during this period[29](index=29&type=chunk) [IV. Analysis of Investment Status](index=10&type=section&id=(IV)Analysis%20of%20Investment%20Status) At the end of the reporting period, the company's long-term equity investments amounted to **1.314 billion Yuan**, a slight decrease from the beginning of the period, mainly due to the recognition of investment losses in BOE Energy under equity method accounting - At the end of the reporting period, the company's long-term equity investments were **1.314 billion Yuan**, a decrease of **0.4487 million Yuan** from the beginning of the period[31](index=31&type=chunk) - The decrease was due to the recognition of investment losses in BOE Energy during the current reporting period under equity method accounting[31](index=31&type=chunk) [VI. Analysis of Major Holding and Participating Companies](index=11&type=section&id=(VI)Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) During the reporting period, the operating performance of the company's major subsidiaries, including Haohua Jingmei, Western Energy, Hongdunzi Coal Industry, Guotai Chemical, and Dongtong Railway Company, varied. Haohua Jingmei and Western Energy were profitable, while Hongdunzi Coal Industry and Guotai Chemical incurred losses, though Guotai Chemical significantly reduced its losses. The company liquidated Haohua International and established Haohua Yunxiao to expand sales channels Overview of Major Subsidiaries and Associates with >10% Impact on Net Profit | Company Name | Company Type | Main Business | Registered Capital (10k Yuan) | Total Assets (10k Yuan) | Net Assets (10k Yuan) | Operating Revenue (10k Yuan) | Operating Profit (10k Yuan) | Net Profit (10k Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Haohua Jingmei | Subsidiary | Coal production, sales | 67,500.00 | 436,849.28 | 363,716.16 | 155,348.41 | 60,689.90 | 52,716.74 | | Western Energy | Subsidiary | Mineral resource exploration and related businesses | 133,500.00 | 573,546.02 | 377,748.80 | 101,535.04 | 18,016.73 | 13,478.25 | | Hongdunzi Coal Industry | Subsidiary | Coal sales | 110,000.00 | 912,136.16 | 53,116.66 | 64,335.82 | -21,801.52 | -22,074.60 | | Guotai Chemical | Subsidiary | Coal chemical product manufacturing and sales | 120,000.00 | 221,392.62 | -65,271.14 | 46,208.77 | -817.74 | -797.32 | | Dongtong Railway Company | Subsidiary | Railway freight transportation | 31,220.00 | 76,567.82 | 55,840.70 | 8,922.24 | 5,143.92 | 4,468.99 | - Haohua International has completed deregistration, recovering **21.6673 million Yuan**, further reducing the company's operating costs[23](index=23&type=chunk)[33](index=33&type=chunk) - The establishment of Haohua Yunxiao aims to broaden sales channels and enhance product competitiveness[33](index=33&type=chunk) [V. Other Disclosure Matters](index=12&type=section&id=V.%20Other%20Disclosure%20Matters) The company actively practices the 'investor-centric' development philosophy, formulating and implementing the 'Quality Improvement, Efficiency Enhancement, and High Returns' action plan, which includes improving corporate governance, prioritizing investor returns, strengthening investor communication, enhancing information disclosure quality, and initiating market value management - The company formulated the 'Quality Improvement, Efficiency Enhancement, and High Returns' action plan and actively carried out and implemented related work[35](index=35&type=chunk) - Improved corporate governance, focused on building a diversified and highly efficient board structure, enhanced the performance of independent directors, and revised **10 internal management systems**[36](index=36&type=chunk) - Prioritized investor returns, completed the 2024 annual cash dividend, distributing a cash dividend of **0.458 Yuan per share** (tax inclusive) to all shareholders, totaling **659 million Yuan**, representing **63.63%** of the company's consolidated net profit attributable to listed company shareholders[37](index=37&type=chunk) - Strengthened investor communication through various channels, including regularly holding earnings briefings, answering investor calls, and responding to e-interaction questions[37](index=37&type=chunk) - Enhanced information disclosure quality, continuously optimized information disclosure systems and content, ensuring disclosed information is true, reliable, accurate, complete, and timely[37](index=37&type=chunk) - Initiated the formulation of the 'Market Value Management Measures' to strive for a dynamic balance between the company's intrinsic value and market value[38](index=38&type=chunk) [(I) Potential Risks](index=12&type=section&id=(I)%20Potential%20Risks) The company faces safety production risks (inherent in coal and coal chemical industries), product price fluctuation risks (coal and methanol market price volatility affecting revenue and profit), and coal mine project M&A uncertainty risks (high valuations, significant capacity expansion pressure) - Safety Production Risk: As an energy listed company primarily engaged in coal and coal chemicals, safety risks are higher than in other general industries, and the possibility of adverse impacts on the company's normal production and operation due to safety accidents cannot be entirely ruled out[34](index=34&type=chunk) - Product Price Fluctuation Risk: Significant future fluctuations in coal and methanol market prices could impact the company's revenue and profit[34](index=34&type=chunk) - Uncertainty in Coal Mine Project M&A: In recent years, valuations of various coal mine projects have remained high, adversely affecting the company's future coal mine M&A activities and further increasing capacity expansion pressure[34](index=34&type=chunk) [Section 4 Corporate Governance, Environment, and Society](index=14&type=section&id=Section%204%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details the company's corporate governance practices, environmental responsibilities, and social contributions during the reporting period [I. Changes in Company Directors, Supervisors, and Senior Management](index=14&type=section&id=I.%20Changes%20in%20Company%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, the company's chairman changed, with Mr. Dong Yongzhan retiring, and Mr. Xue Lingguang elected as the new chairman and legal representative - On June 6, 2025, the company's board of directors received Mr. Dong Yongzhan's written resignation, stating he would no longer hold any company positions due to reaching the statutory retirement age[40](index=40&type=chunk) - On June 18, 2025, the company's 15th meeting of the Seventh Board of Directors elected Mr. Xue Lingguang as the company's chairman and legal representative[40](index=40&type=chunk) [IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information by Law](index=14&type=section&id=IV.%20Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information%20by%20Law) Two of the company's major subsidiaries (Guotai Chemical and Haohua Jingmei) are included in the list of enterprises required to disclose environmental information by law, with inquiry indexes provided - The number of enterprises included in the list of environmental information disclosure is **2**, including Guotai Chemical and Haohua Jingmei[41](index=41&type=chunk) - The report provides an inquiry index for environmental information disclosure reports[41](index=41&type=chunk) [V. Specifics of Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, and Other Work](index=14&type=section&id=V.%20Specifics%20of%20Consolidating%20and%20Expanding%20Poverty%20Alleviation%20Achievements%2C%20Rural%20Revitalization%2C%20and%20Other%20Work) During the reporting period, the company actively participated in rural revitalization efforts, including investing **44.5306 million Yuan** in projects outside Beijing, creating **62 local employment opportunities**, procuring **3.2018 million Yuan** in assistance products, and insuring **0.02691 million Yuan** for villagers in its paired assistance village - In the first half of 2025, cumulative investment in projects outside Beijing totaled **44.5306 million Yuan**, primarily for the Hongqingliang Coal Mine railway dedicated line under construction[42](index=42&type=chunk) - In the first half of 2025, a total of **62 local employment opportunities** were created, including **41 rural laborers**[42](index=42&type=chunk) - In the first half of 2025, company canteens purchased **1.4074 million Yuan** in assistance products; company unions purchased **1.7944 million Yuan** in assistance products, totaling **3.2018 million Yuan**[42](index=42&type=chunk) - In the first half of 2025, the company purchased 'Beijing Ping An Puhui Health Insurance' for **138 registered villagers** in Huang'an Village, Qingshui Town, Mentougou District, Beijing, its paired assistance village, involving a donation of **0.02691 million Yuan**[42](index=42&type=chunk) [Section 5 Significant Matters](index=15&type=section&id=Section%205%20Significant%20Matters) This section highlights significant events and matters affecting the company, including commitments, litigation, and related-party transactions [I. Fulfillment of Commitments](index=15&type=section&id=I.%20Fulfillment%20of%20Commitments) During the reporting period, the company's controlling shareholders, Jingneng Group and Jingmei Group, strictly fulfilled their commitments regarding resolving horizontal competition, reducing related-party transactions, and maintaining the company's independence - Jingneng Group committed to avoiding horizontal competition with Haohua Energy and to inject relevant coal projects into Haohua Energy within one year after their operational qualifications are complete and they commence normal production[44](index=44&type=chunk) - Jingneng Group and Jingmei Group committed to minimizing related-party transactions, ensuring unavoidable transactions are conducted on fair, equitable, and arm's-length principles, with transaction prices strictly determined by market-recognized reasonable prices[45](index=45&type=chunk) - Jingneng Group committed to maintaining Haohua Energy's independence, ensuring its asset independence, personnel independence, financial independence, institutional independence, and business independence[45](index=45&type=chunk) - All commitments were timely and strictly fulfilled during the reporting period[44](index=44&type=chunk)[45](index=45&type=chunk) [VII. Significant Litigation and Arbitration Matters](index=18&type=section&id=VII.%20Significant%20Litigation%20and%20Arbitration%20Matters) The company is involved in several significant lawsuits, including an equity transfer dispute with Shanxi Zhongbo (second-instance judgment rendered), civil lawsuits for securities misrepresentation filed by 878 investors (compensation of **83,714,638.75 Yuan** paid), and contract disputes involving Guotai Chemical and Haohua Jingmei - Haohua Energy's equity transfer dispute lawsuit against Shanxi Zhongbo has received a second-instance (final) judgment, and the civil judgment from the Beijing High People's Court has been received[48](index=48&type=chunk) - As of June 30, 2025, a total of **878 investors** filed civil compensation lawsuits against the company for securities misrepresentation, with total investor claims amounting to **170,483,191.29 Yuan**. The company has paid **83,714,638.75 Yuan** in compensation[50](index=50&type=chunk) - Regarding the contract dispute between Guotai Chemical and Inner Mongolia Ordos Wandeli Environmental Protection Technology Co., Ltd., Guotai Chemical has submitted applications for postponement of trial and judicial appraisal[50](index=50&type=chunk) - Regarding the construction contract dispute between Haohua Jingmei and Everbright Clean, **0.8204716 million Yuan** has been recovered, and the demolition of the coal slime drying plant and equipment was safely completed on May 31, 2025[51](index=51&type=chunk) [X. Significant Related-Party Transactions](index=19&type=section&id=X.%20Significant%20Related-Party%20Transactions) The company's ordinary related-party transactions during the reporting period were largely consistent with initial estimates, and the financial services agreement (deposit and loan business) with Jingneng Group Finance Co., Ltd. was strictly fulfilled as agreed - The execution and overall progress of ordinary related-party transactions in 2025 were largely consistent with initial estimates, with no instances exceeding the estimated scope or significant deviations from expectations[52](index=52&type=chunk) - The 'Financial Services Agreement' signed with Jingneng Group Finance Co., Ltd. was strictly and properly fulfilled as agreed during the reporting period, including deposit and loan businesses[52](index=52&type=chunk) Financial Business with Jingneng Finance | Related Party | Relationship | Business Type | Total Amount (billion Yuan) | Actual Amount (billion Yuan) | | :--- | :--- | :--- | :--- | :--- | | Jingneng Finance | Parent company's controlled subsidiary | Loans | 66.80 | 24.80 | Deposit Business with Jingneng Finance | Related Party | Daily Maximum Deposit Limit | Deposit Interest Rate Range | Beginning Balance (billion Yuan) | Total Deposits in Current Period (billion Yuan) | Total Withdrawals in Current Period (billion Yuan) | Ending Balance (billion Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jingneng Finance | 30% of prior year-end absorbed deposit balance | 0.05%-1.30% | 38.68 | 148.33 | 142.05 | 44.96 | Loan Business with Jingneng Finance | Related Party | Loan Limit | Loan Interest Rate Range | Beginning Balance (billion Yuan) | Total Loans in Current Period (billion Yuan) | Total Repayments in Current Period (billion Yuan) | Ending Balance (billion Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jingneng Finance | / | 2.45%-3.75% | 21.35 | 5.80 | 2.35 | 24.80 | [Section 6 Changes in Shares and Shareholder Information](index=21&type=section&id=Section%206%20Changes%20in%20Shares%20and%20Shareholder%20Information) This section outlines changes in the company's share capital and provides detailed information about its shareholders [I. Changes in Share Capital](index=21&type=section&id=I.%20Changes%20in%20Share%20Capital) During the reporting period, there were no changes in the company's total share capital or share structure - During the reporting period, there were no changes in the company's total share capital or share structure[59](index=59&type=chunk) [II. Shareholder Information](index=21&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the company had **36,807 common shareholders**. Controlling shareholder Jingneng Group held **63.31%** of shares, being the largest shareholder. The top ten shareholders included several insurance companies and funds - As of the end of the reporting period, the total number of common shareholders was **36,807**[60](index=60&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Beijing Energy Group Co., Ltd. | 911,613,544 | 63.31 | State-owned legal person | | Great Wall Life Insurance Co., Ltd. - Proprietary Funds | 39,629,946 | 2.75 | Unknown | | Hong Kong Securities Clearing Company Limited | 31,346,296 | 2.18 | Unknown | | China National Coal Group Corp. | 26,777,110 | 1.86 | State-owned legal person | | Industrial and Commercial Bank of China Co., Ltd. - Guotai CSI Coal ETF | 8,951,080 | 0.62 | Unknown | [Section 7 Bond-Related Information](index=24&type=section&id=Section%207%20Bond-Related%20Information) This section provides an overview of the company's bond-related information, including corporate bonds and convertible bonds [I. Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=24&type=section&id=I.%20Corporate%20Bonds%20%28Including%20Enterprise%20Bonds%29%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[68](index=68&type=chunk) [II. Convertible Corporate Bonds](index=24&type=section&id=II.%20Convertible%20Corporate%20Bonds) During the reporting period, the company had no convertible corporate bonds - During the reporting period, the company had no convertible corporate bonds[68](index=68&type=chunk) [Section 8 Financial Report](index=25&type=section&id=Section%208%20Financial%20Report) This section presents the company's comprehensive financial statements, including balance sheets, income statements, cash flow statements, and detailed notes [I. Audit Report](index=25&type=section&id=I.%20Audit%20Report) This semi-annual report is unaudited - This semi-annual report is unaudited[3](index=3&type=chunk)[70](index=70&type=chunk) [II. Financial Statements](index=25&type=section&id=II.%20Financial%20Statements) This section provides the company's H1 2025 consolidated and parent company balance sheets, income statements, and cash flow statements, as well as consolidated and parent company statements of changes in equity, comprehensively reflecting the financial position and operating results at the end of the reporting period - Includes consolidated balance sheet, consolidated income statement, consolidated cash flow statement, and consolidated statement of changes in equity[70](index=70&type=chunk)[76](index=76&type=chunk)[83](index=83&type=chunk)[90](index=90&type=chunk) - Includes parent company balance sheet, parent company income statement, parent company cash flow statement, and parent company statement of changes in equity[73](index=73&type=chunk)[80](index=80&type=chunk)[86](index=86&type=chunk)[94](index=94&type=chunk) [III. Company Basic Information](index=42&type=section&id=III.%20Company%20Basic%20Information) Outlines Beijing Haohua Energy Co., Ltd.'s registered address, business nature, and main operating activities, including coal mining, washing, and chemical product sales - Beijing Haohua Energy Co., Ltd. registered address: No. 2 Xinqiao South Street, Mentougou District, Beijing[99](index=99&type=chunk) - The business nature of the company and its subsidiaries: mining and washing of bituminous and anthracite coal; main operating activities: mining, washing raw coal; manufacturing, processing, and selling coal products; selling chemical products, etc[99](index=99&type=chunk) [IV. Basis of Financial Statement Preparation](index=42&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, confirming the company's ability to continue as a going concern for at least the next 12 months - The company's financial statements are prepared on a going concern basis[100](index=100&type=chunk) - The company has the ability to continue as a going concern for at least 12 months from June 30, 2025, with no significant matters affecting its going concern status[101](index=101&type=chunk) [V. Significant Accounting Policies and Estimates](index=42&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the enterprise accounting standards, accounting period, operating cycle, functional currency, and significant accounting policies and estimates followed by the company in preparing its financial statements, including business combinations, financial instruments, inventories, fixed assets, intangible assets, employee benefits, provisions, revenue recognition, government grants, and deferred income tax - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, truly and completely reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows[103](index=103&type=chunk) - Detailed explanations are provided for the classification, measurement, and impairment provision methods of financial instruments, including financial assets measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss[120](index=120&type=chunk)[121](index=121&type=chunk)[125](index=125&type=chunk) - Fixed asset depreciation methods: mine structures are depreciated using the output method, while other fixed assets are depreciated using the straight-line method[160](index=160&type=chunk) - R&D expenditures are divided into research phase expenditures (all expensed) and development phase expenditures (recognized as intangible assets when conditions are met)[167](index=167&type=chunk) - Revenue Recognition: Revenue is recognized when performance obligations in a contract are satisfied, i.e., when the customer obtains control of the related goods or services, at the transaction price allocated to that performance obligation, primarily from the sale of coal products and methanol[181](index=181&type=chunk)[184](index=184&type=chunk) - Special Reserves: Safety production fees and maintenance fees are recognized as costs and expenses when accrued, and the accrued unused amounts are separately reflected in the 'Special Reserves' item under shareholders' equity. If fixed assets are formed, special reserves are reduced, and an equal amount of accumulated depreciation is recognized[202](index=202&type=chunk) [VI. Taxation](index=62&type=section&id=VI.%20Taxation) The company's main taxes include VAT, urban maintenance and construction tax, corporate income tax, resource tax, and environmental protection tax. Some subsidiaries enjoy corporate income tax preferential policies for western development (15% tax rate) or high-tech enterprises (15% tax rate) Major Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable income | 13%, 9%, 6%, 3% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7%, 5% | | Corporate Income Tax | Taxable income | 25%, 15% | | Resource Tax | Taxable coal revenue from mines | Washed coal in Inner Mongolia is calculated at **9%** of revenue, raw coal and engineering coal at **10%** of revenue; washed coal in Ningxia is calculated at **6%** of revenue, engineering coal at **6.5%** of revenue | | Environmental Protection Tax | Pollution equivalent | Paid quarterly, calculated based on the number of pollution equivalents as the tax base | - The company's subsidiaries, Ordos Haohua Jingmei Co., Ltd., Ordos Haohua Hongqingliang Mining Co., Ltd., and Ordos Dongtong Railway Logistics Co., Ltd., are enterprises in encouraged industries in the western region, enjoying a reduced corporate income tax rate of **15%**[206](index=206&type=chunk) - The company's subsidiary, Ordos Haohua Guotai Chemical Co., Ltd., has been recognized as a high-tech enterprise, enjoying a reduced corporate income tax rate of **15%**[206](index=206&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=63&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes to each item in the consolidated financial statements, including cash and cash equivalents, notes receivable, accounts receivable, inventories, long-term equity investments, fixed assets, construction in progress, intangible assets, long-term deferred expenses, deferred tax assets/liabilities, assets restricted by ownership or use rights, short-term borrowings, accounts payable, contract liabilities, employee benefits payable, taxes payable, other payables, non-current liabilities due within one year, long-term borrowings, lease liabilities, long-term payables, long-term employee benefits payable, provisions, share capital, capital reserves, other comprehensive income, special reserves, surplus reserves, retained earnings, operating revenue and costs, taxes and surcharges, selling expenses, administrative expenses, R&D expenses, financial expenses, other income, investment income, credit impairment losses, asset disposal gains, non-operating income, non-operating expenses, income tax expenses, cash flow statement items, and supplementary cash flow information - Cash and cash equivalents balance at period end was **4,871,760,357.18 Yuan**, of which **4,496,252,374.48 Yuan** was deposits with finance companies[208](index=208&type=chunk) - Notes receivable balance at period end was **19,587,748.68 Yuan**, a **82.79%** decrease from the beginning of the period, mainly due to the maturity and settlement of Xinda Trading's notes receivable at the end of the prior year[210](index=210&type=chunk)[29](index=29&type=chunk) - Inventory balance at period end was **189,404,338.63 Yuan**, including inventory impairment provisions of **6,609,317.80 Yuan**[248](index=248&type=chunk) - Fixed assets book value at period end was **11,848,823,290.21 Yuan**, with **159,163,438.39 Yuan** transferred from construction in progress to fixed assets during the current period[257](index=257&type=chunk) - Operating revenue for the current period was **4,395,012,178.83 Yuan**, and operating cost was **2,933,269,998.52 Yuan**[345](index=345&type=chunk) - Net cash flow from operating activities was **1,052,015,590.81 Yuan**, a year-on-year decrease of **57.86%**[378](index=378&type=chunk) - Total assets restricted by ownership or use rights amounted to **3,054,130,100.97 Yuan**, primarily comprising special account funds for mine geological environment restoration funds, ecological deposits, and pledged borrowings[291](index=291&type=chunk) [VIII. R&D Expenditures](index=99&type=section&id=VIII.%20R%26D%20Expenditures) During the reporting period, the company's R&D expenditures primarily consisted of outsourced R&D expenses, totaling **1,016,026.74 Yuan**, a significant year-on-year decrease of **78.20%**, and all were expensed R&D Expenditures by Nature of Expense | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Outsourced R&D Expenses | 1,016,026.74 | 4,659,924.02 | | Total | 1,016,026.74 | 4,659,924.02 | | Of which: Expensed R&D Expenditures | 1,016,026.74 | 4,659,924.02 | | Capitalized R&D Expenditures | | | - Reasons for change in R&D expenses: primarily due to reduced investment in R&D projects compared to the prior period[27](index=27&type=chunk) [IX. Changes in Consolidation Scope](index=99&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) During the reporting period, the company's consolidation scope changed, with the liquidation and deregistration of Haohua Energy International (Hong Kong) Co., Ltd. and the establishment of Ordos Haohua Coal Sales Co., Ltd. - During the reporting period, Haohua Energy International (Hong Kong) Co., Ltd. was liquidated and deregistered[389](index=389&type=chunk) - During the reporting period, Ordos Haohua Coal Sales Co., Ltd. was newly established[389](index=389&type=chunk) [X. Interests in Other Entities](index=100&type=section&id=X.%20Interests%20in%20Other%20Entities) This section details the company's interests in subsidiaries, joint ventures, and associates, including the composition of major subsidiaries, financial information of significant non-wholly owned subsidiaries, and financial information of the significant associate BOE Energy Composition of the Enterprise Group (Partial) | Subsidiary Name | Main Operating Location | Registered Capital (10k Yuan) | Shareholding (%) (Direct) | Acquisition Method | | :--- | :--- | :--- | :--- | :--- | | Xinda Trading | Beijing | 1,000.00 | 100 | Establishment | | Haohua Jingmei | Ordos | 67,500.00 | 80 | Establishment | | Dongtong Railway Company | Ordos | 31,220.00 | 59 | Establishment | | Western Energy | Ordos | 133,500.00 | 60 | Business combination not under common control | | Guotai Chemical | Ordos | 120,000.00 | 96.67 | Business combination not under common control | | Hongdunzi Coal Industry | Yinchuan | 110,000.00 | 60 | Business combination not under common control | | Haohua Yunxiao | Ordos | 500.00 | 100 | Establishment | - BOE Energy is a significant associate, with the company holding **11.54%** and accounted for using the equity method[398](index=398&type=chunk) - BOE Energy's net profit for the current period was **-3,888,085.67 Yuan**[400](index=400&type=chunk) [XI. Government Grants](index=104&type=section&id=XI.%20Government%20Grants) During the reporting period, government grants recognized in current profit or loss amounted to **182,852.42 Yuan**, primarily consisting of income-related grants Government Grants Recognized in Current Profit or Loss | Type | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Income-related | 182,852.42 | 527,887.44 | | Total | 182,852.42 | 527,887.44 | [XII. Risks Related to Financial Instruments](index=104&type=section&id=XII.%20Risks%20Related%20to%20Financial%20Instruments) The company faces market risk (interest rate risk), credit risk, and liquidity risk. It manages these risks by maintaining floating-rate borrowings, establishing credit lines, monitoring accounts receivable collection, and holding sufficient cash and cash equivalents - The company's risk of financial instrument cash flow changes due to interest rate fluctuations is primarily related to floating-rate bank borrowings[404](index=404&type=chunk) - The company's maximum credit risk exposure for financial losses primarily arises from losses on its financial assets due to the counterparty's failure to fulfill obligations, as well as financial guarantees undertaken by the company[405](index=405&type=chunk) - The company maintains and monitors cash and cash equivalents deemed sufficient by management to meet its operating needs and mitigate the impact of cash flow fluctuations[405](index=405&type=chunk) [XIII. Disclosure of Fair Value](index=106&type=section&id=XIII.%20Disclosure%20of%20Fair%20Value) At the end of the reporting period, the company's total assets measured at fair value on a recurring basis amounted to **722,257,172.63 Yuan**, primarily other equity instrument investments, measured using Level 3 fair value Fair Value of Assets and Liabilities Measured at Fair Value at Period End | Item | Level 3 Fair Value Measurement (Yuan) | Total (Yuan) | | :--- | :--- | :--- | | (III) Other Equity Instrument Investments | 722,257,172.63 | 722,257,172.63 | | Total Assets Measured at Fair Value on a Recurring Basis | 722,257,172.63 | 722,257,172.63 | [XIV. Related Parties and Related-Party Transactions](index=107&type=section&id=XIV.%20Related%20Parties%20and%20Related-Party%20Transactions) This section details the company's parent company, subsidiaries, joint ventures, associates, and other related parties, and lists the amounts and period-end balances of related-party transactions during the reporting period, including purchases and sales of goods, provision and acceptance of services, related-party leases, related-party fund borrowings, and receivables/payables from/to related parties - The company's parent company is Jingneng Group, with a registered capital of **22.08172 billion Yuan**, a shareholding ratio of **63.31%**, and the ultimate controlling party is the Beijing Municipal State-owned Assets Supervision and Administration Commission[412](index=412&type=chunk) - During the reporting period, the company sold coal and provided logistics services to related parties such as Inner Mongolia Jinglong Power Generation Co., Ltd. and Inner Mongolia Jingning Thermal Power Co., Ltd., with significant amounts[417](index=417&type=chunk) - As a lessee, the company has property leases with Jingmei Group and equipment sale-and-leaseback arrangements with Beijing Jingneng Financial Leasing Co., Ltd., incurring **2,002,718.03 Yuan** in finance lease interest during the current period[419](index=419&type=chunk)[420](index=420&type=chunk) - The company has multiple fund borrowings with Jingneng Group and Jingneng Group Finance Co., Ltd., with significant borrowing amounts in the current period[421](index=421&type=chunk)[422](index=422&type=chunk) - Key management personnel compensation for the current period amounted to **4.28 million Yuan**[423](index=423&type=chunk) - The company's receivable of **73,364,592.00 Yuan** from Beijing Jingmei Group Co., Ltd. for fixed asset disposal was recovered on July 14[428](index=428&type=chunk) [XVI. Commitments and Contingencies](index=114&type=section&id=XVI.%20Commitments%20and%20Contingencies) The company has significant contingencies, primarily a series of civil lawsuits for securities misrepresentation involving **878 investors**, with total claims amounting to **170,483,191.29 Yuan**, and the company has paid part of the compensation - As of June 30, 2025, a total of **878 investors** filed civil compensation lawsuits against the company for securities misrepresentation, with total investor claims amounting to **170,483,191.29 Yuan**[432](index=432&type=chunk) - The Beijing Financial Court has successively issued civil mediation statements or judicial confirmation civil rulings for case 827, and the company has paid **83,714,638.75 Yuan** in compensation and **85,371.52 Yuan** in litigation fees[432](index=432&type=chunk) [XVII. Events After the Balance Sheet Date](index=114&type=section&id=XVII.%20Events%20After%20the%20Balance%20Sheet%20Date) After the reporting period, the company completed its 2024 annual profit distribution in July 2025, distributing a cash dividend of **4.58 Yuan per 10 shares** (tax inclusive) to all shareholders, totaling **659,519,050.11 Yuan** - On April 25, 2025, the company's 14th meeting of the Seventh Board of Directors reviewed and approved the 2024 annual profit distribution plan: based on the total share capital of **1,439,997,926 shares** as of December 31, 2024, the company plans to distribute a cash dividend of **4.58 Yuan per 10 shares** (tax inclusive) to all shareholders, totaling **659,519,050.11 Yuan**[434](index=434&type=chunk)[435](index=435&type=chunk) - The aforementioned profit distribution was paid in July 2025[435](index=435&type=chunk) [XVIII. Other Significant Matters](index=115&type=section&id=XVIII.%20Other%20Significant%20Matters) This section primarily discloses the company's segment information, dividing its operations into coal and chemical segments, and provides the main business revenue, costs, total assets, and total liabilities for each segment - Based on the company's internal organizational structure, management requirements, and internal reporting system, the company's operating businesses are divided into **2 operating segments**: coal segment and chemical segment[436](index=436&type=chunk) Financial Information of Reporting Segments | Item | Coal Segment (Yuan) | Chemical Segment (Yuan) | Inter-segment Eliminations (Yuan) | Total (Yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business Revenue | 4,772,231,626.61 | 456,435,237.51 | -844,897,961.91 | 4,383,768,902.21 | | Main Business Cost | 3,344,264,750.11 | 414,482,947.22 | -830,599,312.33 | 2,928,148,385.00 | | Total Assets | 31,235,773,415.45 | 2,213,926,187.51 | -4,529,249,768.92 | 28,920,449,834.04 | | Total Liabilities | 13,507,925,836.08 | 2,866,637,563.23 | -2,600,648,346.98 | 13,773,915,052.33 | [XIX. Notes to Major Items in Parent Company Financial Statements](index=116&type=section&id=XIX.%20Notes%20to%20Major%20Items%20in%20Parent%20Company%20Financial%20Statements) This section provides detailed notes to major items in the parent company's financial statements, including other receivables, long-term equity investments, operating revenue and costs, and investment income, reflecting the financial position and operating results at the parent company level - Parent company's other receivables balance at period end was **2,012,444,771.12 Yuan**, primarily consisting of amounts from related parties within Haohua Energy's consolidated scope[441](index=441&type=chunk)[446](index=446&type=chunk) - Parent company's long-term equity investments book value at period end was **5,875,714,356.43 Yuan**, including investments in subsidiaries of **4,561,319,053.44 Yuan** and investments in associates and joint ventures of **1,314,395,302.99 Yuan**[455](index=455&type=chunk) - Parent company's investment income for the current period was **71,140,349.02 Yuan**, mainly from long-term equity investment income accounted for using the cost method and investment income from disposal of long-term equity investments[465](index=465&type=chunk) [XX. Supplementary Information](index=122&type=section&id=XX.%20Supplementary%20Information) This section provides supplementary information such as the detailed statement of non-recurring gains and losses, return on net assets, and earnings per share, with total non-recurring gains and losses amounting to **-1,396,899.74 Yuan** Detailed Statement of Non-recurring Gains and Losses for the Current Period (Total) | Item | Amount (Yuan) | | :--- | :--- | | Total | -1,396,899.74 | Return on Net Assets and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Basic Earnings Per Share | Diluted Earnings Per Share | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders | 3.75 | 0.31 | 0.31 | | Net Profit Attributable to Common Shareholders After Deducting Non-recurring Gains and Losses | 3.77 | 0.31 | 0.31 |

Core Viewpoint - Haohua Energy reported a significant decline in financial performance for the first half of the year, primarily due to a sharp drop in coal prices, leading to decreased revenue and net profit [1] Financial Performance - The company achieved an operating revenue of 4.395 billion yuan, a year-on-year decrease of 7.17% [1] - The net profit attributable to shareholders was 448 million yuan, down 47.82% from 859 million yuan in the same period last year [1] - Basic earnings per share were reported at 0.31 yuan [1] Revenue Drivers - The decline in financial metrics is mainly attributed to a significant reduction in self-produced coal revenue due to falling coal prices [1]

证券代码：601101 证券简称：昊华能源 公告编号：2025-027 北京昊华能源股份有限公司 关于修改《公司章程》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《公司法》和中国证券监督管理委员会《上市公司章程 指引》（以下简称"《章程指引》"）的相关规定，为促进北京 昊华能源股份有限公司（以下简称"公司"）规范治理水平的提 高，结合公司实际情况，于 2025 年 8 月 23 日召开了公司第七届 董事会第十六次会议，审议通过了《关于修改〈公司章程〉的议 案》。主要修改内容如下： 1.修改后《公司章程》由二百三十六条减少至二百一十八条。 2.根据《公司法》，将"股东大会"修改为"股东会"。 3.不再设置监事会和监事，删除《公司章程》中关于监事会 和监事相关表述及条款，由审计委员会行使监事会的法定职权， 调整相应表述。 4.根据《公司法》《章程指引》规定，对股东会及董事会职 权进行调整。 附件：《公司章程》修改对照表 北京昊华能源股份有限公司 2025 年 8 月 25 日 - 2 - 5.根据《章程指引 ...

北京昊华能源股份有限公司 对京能集团财务有限公司的风险持续评估报告 北京昊华能源股份有限公司（以下简称"公司"）按照《上 海证券交易所上市公司自律监管指引第5 号——交易与关联交易》 的要求，通过查验京能集团财务有限公司（以下简称"京能财务"） 的《营业执照》《金融许可证》等证件，并审阅京能财务定期财 务报告，对其经营资质、业务和风险状况进行了评估，具体情况 如下： 一、京能财务基本情况 京能财务是经国家金融监督管理总局（原中国银行业监督管 理委员会）批准、北京市市场监督管理局登记注册的非银行金融 机构，依法接受国家金融监督管理总局的监督管理。 企业名称：京能集团财务有限公司 注册地址：北京市朝阳区永安东里 16 号商务中心区国际大厦 23 层 01/02/03 号 法定代表人：刘嘉凯 金融许可证机构编码：L0020H211000001 统一社会信用代码：91110000117662892G 注册资本：50 亿元人民币，其中北京能源集团有限责任公司 出资比例为 60%，北京京能清洁能源电力股份有限公司出资比例为 20%，北京京能电力股份有限公司出资比例为 20%。 经营范围包括：吸收成员单位存款；办理成员单位 ...

Investment Rating - The report maintains an "Overweight" rating for the coal mining industry [5]. Core Viewpoints - The Asian metallurgical coal market is expected to continue its recovery in Q3 2025, supported by post-monsoon inventory replenishment in India and potential rebounds in the Chinese domestic market [2]. - Despite supply pressures from adverse weather and safety issues in Australian mining, the overall outlook for the metallurgical coal market remains positive [2]. Summary by Sections Industry Overview - Global energy prices have shown mixed trends, with Brent crude oil futures at $67.73 per barrel, up by $1.88 (+2.85%) from the previous week, while WTI crude oil futures increased by $0.86 (+1.37%) to $63.66 per barrel [1]. - Natural gas prices in Northeast Asia rose to $11.705 per million British thermal units, an increase of $0.847 (+7.80%) [1]. Coal Price Trends - European ARA port coal prices increased by $3.0 to $101.8 per ton (+3.1%), while Newcastle port coal prices rose slightly by $0.2 to $112.3 per ton (+0.2%) [1]. - The IPE South African Richards Bay coal futures settled at $89.7 per ton, down by $0.5 (-0.4%) [1]. Investment Recommendations - Key recommendations include major coal enterprises such as China Coal Energy (H+A) and China Shenhua (H+A), with a focus on companies showing potential for turnaround like China Qinfa [3]. - High-performing stocks include Shaanxi Coal and Electricity, China Energy Investment, and Huai Bei Mining, while companies like Yancoal and Jinkong Coal are noted for their flexibility and potential for growth [3]. Market Dynamics - The report highlights a significant trend where China is transitioning from a coal importer to an exporter, driven by a surplus in the domestic market [8]. - The forecast for Q3 2025 anticipates that the price of high-quality low-volatile hard coking coal will average $178 per ton, with expectations of $181 per ton in the second half of 2025 [8].