Group 1 - The core viewpoint of the article highlights the significant decline in the financial performance of Pingmei Shenma Energy Company (平煤股份) for the third quarter of 2025, with a notable drop in revenue and net profit [1] - The company's revenue for the first three quarters of 2025 is approximately 14.816 billion yuan, representing a year-on-year decrease of 36.46% [1] - The net profit attributable to shareholders is around 280 million yuan, reflecting a year-on-year decline of 86.32% [1] - Basic earnings per share are reported at 0.113 yuan, which is a decrease of 86.56% compared to the previous year [1] Group 2 - As of the report, the market capitalization of Pingmei Shenma Energy Company stands at 21.6 billion yuan [2]

Group 1 - The company Pingmei Shenma Energy Company Limited (平煤股份) announced the resignation of Mr. Xu Jinpeng from the positions of director and board secretary due to work adjustments, and Mr. Liu Jinxiang has been appointed as the new board secretary [1] - For the fiscal year 2024, the company's revenue composition is as follows: coal mining and selection industry accounts for 89.51%, while other businesses account for 10.49% [1] - As of the report date, the market capitalization of Pingmei Shenma is 21.6 billion yuan [1]

证券代码：601666 股票简称：平煤股份 编号：2025-084 平顶山天安煤业股份有限公司 关于为控股子公司河南平煤神马汝丰炭材料科技有限公司 提供担保的公告 ● 本次是否有反担保：无 ● 对外担保逾期的累计数量：无 ● 本次交易未构成关联交易，也未构成重大资产重组 ● 本次交易及担保事项已经平顶山天安煤业股份有限公司（以下 简称"公司"）第九届董事会第四十七次会议审议通过，无需提交公司 股东会审议批准。 一、担保情况概述 公司控股子公司河南平煤神马汝丰炭材料科技有限公司（以下简称 "汝丰炭材"），拟向金融机构合计申请借款 3 亿元，融资成本不超过 3%。其中，向中信银行申请综合授信金额不超过 0.8 亿元人民币的流动 资金借款，期限不超过 2 年；向国新融资租赁有限公司申请金额不超过 1 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： ● 被担保人名称：河南平煤神马汝丰炭材料科技有限公司 ● 本次担保金额：3 亿元人民币 2.2 亿元的融资租赁借款，期限不超过 3 年。 公司拟为汝丰炭材上述融资事项 ...

证券代码：601666 证券简称：平煤股份 编号：2025-085 平顶山天安煤业股份有限公司 2025 年三季度经营数据公告 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《上市公司行业信息披露指引第二号－煤炭》 要求，现将平顶山天安煤业股份有限公司（以下简称"公司"）2025 年三季度经营数据公告如下： | 项目 | 2025 年 | 1—9 | 月 | 2024 | 年 1—9 | 月 | 变动比例 （%） | | --- | --- | --- | --- | --- | --- | --- | --- | | 商品煤产量（万吨） | | 1,965.03 | | | 2,017.84 | | -2.62 | | 商品煤销量（万吨） | | 1,817.40 | | | 2,008.18 | | -9.50 | | 其中：自有商品煤销量（万吨） | | 1,593.35 | | | 1,712.71 | | -6.97 | | 商品煤销售收入（万元） | | 1,314,698.88 | | ...

平顶山天安煤业股份有限公司 证券代码：601666 证券简称：平煤股份 公告编号：2025-082 护投资者关系等方面发挥了积极作用。公司及董事会对许尽峰先生在 任职期间做出的突出贡献表示衷心感谢！ 二、董事会秘书聘任情况 关于董事及董事会秘书辞职暨聘任董事会秘书的 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。 一、董事及董事会秘书辞职情况 （一）提前离任的基本情况 | 姓名 | 离任职务 | 离任时间 | 原定任期 到期日 | 离任原因 | 是否继续在上 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 市公司及其控 股子公司任职 | （如适用） | 毕的公开 | | | | | | | | | 承诺 | | 许尽峰 | 董事及董 | 2025 年 | 10 2026年1月 | 工作调整 | 否 | 不适用 | 否 | | | 事会秘书 | 月 28 日 | 5 日 | | | | | （二）离任对公 ...

证券代码：601666 证券简称：平煤股份 编号：2025-083 平顶山天安煤业股份有限公司 第九届董事会第四十七次会议决议公告 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。 平顶山天安煤业股份有限公司（以下简称"公司"）第九届董事 会第四十七次会议于 2025 年 10 月 24 日以书面、短信或电子邮件的 方式发出通知，于 2025 年 10 月 29 日采用通讯表决的方式召开，会 议由公司董事长焦振营先生主持。本次会议应表决董事 14 人，实际 表决董事 14 人。会议召开及程序符合《公司法》等法律、法规及《公 司章程》的有关规定。经与会董事审议，本次董事会会议通过如下事 项： 一、2025 年三季度报告 会议以 14 票同意，0 票反对，0 票弃权，审议通过该报告。（全 文详见上海证券交易所网站） 二、关于聘任董事会秘书的议案 会议以 14 票同意，0 票反对，0 票弃权，审议通过该议案。 梁五星：1971 年 10 月出生，大学本科，高级工程师，曾任中国 平煤神马集团联合盐化有限公司副总经理；河南中平煤电有 ...

平顶山天安煤业股份有限公司 2025 年第三季度报告 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 证券代码：601666 证券简称：平煤股份 平顶山天安煤业股份有限公司 2025 年第三季度报告 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚 假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人焦振营、主管会计工作负责人张后军及会计机构负责人（会计主管人员） 向长军保证季度报告中财务信息的真实、准确、完整。 （一）主要会计数据和财务指标 1 / 21 单位：元 币种：人民币 项目 本报告期 本报告 期比上 年同期 增减变 动幅度 (%) 年初至报告期末 年初至报告 期末比上年 同期增减变 动幅度(%) 营业收入 4,695,784,556.21 -33.00 14,815,890,627.99 -36.46 利润总额 83,763,402.21 -91.22 441,689,811.13 -85.47 归 ...

Core Insights - The coal mining sector experienced a slight increase of 0.24% on October 29, with Electric Power Investment Energy leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Coal Mining Sector Performance - Electric Power Investment Energy (002128) closed at 25.36, up 4.41% with a trading volume of 255,100 shares and a transaction value of 642 million yuan [1] - Shanghai Energy (600508) closed at 14.42, up 3.59% with a trading volume of 310,900 shares and a transaction value of 444.7 million yuan [1] - Lu'an Environmental Energy (669109) closed at 15.22, up 2.91% with a trading volume of 512,800 shares and a transaction value of 776 million yuan [1] - Other notable performers include Pingmei Shenma Energy (601666) at 8.73, up 2.83%, and Xinji Energy (816109) at 7.43, up 2.77% [1] Fund Flow Analysis - The coal mining sector saw a net outflow of 16.96 million yuan from institutional investors, while retail investors contributed a net inflow of 13.9 million yuan [2] - Major stocks with significant fund flow include Yongtai Energy (600157) with a net inflow of 10.7 million yuan from institutional investors, while Shanxi Coking Coal (000983) experienced a net outflow of 14.24 million yuan from retail investors [3] - The overall trend indicates a mixed sentiment in the coal mining sector, with institutional investors pulling back while retail investors are more active [2][3]

Core Viewpoint - Pingmei Shenhua Coal Industry Co., Ltd. has experienced fluctuations in stock price and significant changes in financial performance, indicating potential investment opportunities and risks in the coal industry [1][2]. Financial Performance - As of September 30, 2025, Pingmei reported a revenue of 10.12 billion yuan, a year-on-year decrease of 37.74% [2]. - The net profit attributable to shareholders was 258 million yuan, down 81.48% year-on-year [2]. - Year-to-date, the stock price has decreased by 8.36%, but it has shown a slight recovery with a 1.17% increase over the last five trading days and a 9.34% increase over the last 20 days [1]. Stock Market Activity - On October 29, the stock price rose by 2.00% to 8.66 yuan per share, with a trading volume of 315 million yuan and a turnover rate of 1.50% [1]. - The total market capitalization of Pingmei is 21.385 billion yuan [1]. - The net inflow of main funds was 22.77 million yuan, with significant buying activity from large orders [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 87,800, a rise of 9.76% [2]. - The average number of circulating shares per shareholder decreased by 8.89% to 28,123 shares [2]. Dividend Distribution - Since its A-share listing, Pingmei has distributed a total of 12.782 billion yuan in dividends, with 5.850 billion yuan distributed in the last three years [3]. Institutional Holdings - As of June 30, 2025, major institutional shareholders include Huatai-PB SSE Dividend ETF, which holds 42.67 million shares, a decrease of 8.7474 million shares from the previous period [3]. - Other notable shareholders include Guotai CSI Coal ETF and Southern CSI 500 ETF, with slight increases in their holdings [3].

Core Viewpoint - The article discusses the performance and strategy of fund manager Huang Hai, emphasizing his continued focus on the coal industry despite recent underperformance compared to the market index [3][6][18]. Fund Performance - In 2025, Huang Hai's flagship fund, Wan Jia Xin Li Flexible Allocation Mixed Fund, reported a year-to-date return of 9.14%, lagging behind the CSI 300 index by 9 percentage points [3][7]. - Huang Hai's management scale has decreased to just over 3 billion yuan, reflecting investor dissatisfaction due to underperformance [3][6]. Industry Analysis - The coal industry faced significant challenges in early 2025 due to high inventory levels and declining prices, but began to recover in the summer with increased demand during peak electricity usage [6][7]. - By the third quarter of 2025, coal companies showed signs of recovery, with major firms like China Shenhua and New Energy showing improved net profits [7][8]. Investment Strategy - Huang Hai maintains a high concentration in coal stocks, with 73% of his fund's net value invested in this sector as of the third quarter [7][8]. - Despite criticism, Huang Hai's investment style remains consistent, focusing heavily on coal and showing little diversification [8][12]. Portfolio Adjustments - In the third quarter, Huang Hai made minor adjustments to his portfolio, reducing holdings in certain coal stocks while increasing positions in gold mining companies, which performed well [14][15]. - The top ten holdings in his flagship fund include several coal companies, with notable increases in gold stocks like Zhongjin Gold and Chifeng Gold [15][14]. Future Outlook - Huang Hai believes that traditional dividend-paying cyclical sectors, such as coal, steel, and non-ferrous metals, will not be absent in future bull markets and will provide substantial absolute returns [16][17]. - The article suggests that long-term capital will likely increase allocations to dividend-generating cyclical assets as manufacturing capacity cycles clear [17][18].