证券代码：601666 证券简称：平煤股份 编号：2025-078 平顶山天安煤业股份有限公司 9 月 25 日，平顶山天安煤业股份有限公司（以下简称"公司"） 接到控股股东中国平煤神马控股集团有限公司（以下简称"集团"） 的通知，河南省委、省政府决定对河南能源集团有限公司和中国平煤 神马控股集团有限公司实施战略重组。 截至 2025 年 9 月 20 日，公司控股股东集团及其一致行动人持股 1,151,273,546 股，占比 46.62%。上述重组事项不会对公司生产经营 活动产生重大影响。公司实控人为河南省国资委，公司控制权不发生 变化。 公司将密切关注该事项的进展情况，并按照相关法律法规的规定， 及时履行信息披露义务。 特此公告。 平顶山天安煤业股份有限公司董事会 关于控股股东拟实施战略重组的提示性公告 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。 2025 年 9 月 26 日 ...

智通财经APP讯，平煤股份(601666.SH)公告，公司接到控股股东中国平煤神马控股集团有限公司的通 知，河南省委、省政府决定对河南能源集团有限公司和中国平煤神马控股集团有限公司实施战略重组。 ...

Core Insights - The report emphasizes the potential awakening of the coal sector, suggesting that after a challenging period, coal prices are expected to rise towards the end of the year, providing upward momentum for the sector [2]. Industry Performance - As of September 19, 2025, the coal industry has seen a decline of 2.3% year-to-date, ranking last among 30 industries. However, in the week of September 19, it experienced a weekly increase of 3.6%, ranking second among the industries, indicating a significant contrast in performance [2]. - The report predicts that the coal price will stabilize and potentially reach a peak by the end of the year, which could drive further positive performance in the coal sector [2]. Company Focus - The report highlights several companies to watch within the coal sector: - **Keda Control**: Noted for its focus on smart mining [2]. - **China Coal Energy (H+A)** and **China Shenhua (H+A)**: Major state-owned enterprises in the coal industry [2]. - **China Qinfa**: Recommended for its turnaround potential [2]. - **Shanxi Coal and Electricity, Huainan Mining, and Xinji Energy**: Identified as strong performers [2]. - **Yankuang Energy, Jinkong Coal, and Pingmei Shenma**: Noted for their elasticity and potential for growth [2]. - **Huayang Co. and Gansu Energy**: Suggested as companies with future growth potential [2]. - **Anyuan Coal Industry**: Highlighted for its recent changes in control and ongoing asset restructuring [2].

Investment Rating - The industry rating is "Positive" [1] Core Viewpoints - A V-shaped reversal in coal prices is anticipated, with winter prices expected to reach 800 CNY/ton. The long-term contracts are supporting spot prices, and policy-driven sentiment is leading to significant price increases. The long-term contract prices for September are 674, 613, and 551 CNY/ton for 5500, 5000, and 4500 kcal respectively, with the CCI index showing slight variations [6][26] - The coal market is expected to see a balance between supply and demand gradually, with prices steadily rising. The report maintains a "Positive" rating for the industry and suggests focusing on flexible thermal coal companies and those in turnaround situations in coking coal and coke sectors [6][26] Summary by Sections Coal Sector Performance - The coal sector outperformed the CSI 300 index, with a weekly increase of 3.59% as of September 19, 2025, while the index fell by 0.44%, resulting in a 4.03 percentage point outperformance. A total of 24 stocks in the sector rose, with Yongtai Energy showing the highest increase of 13.42% [2] - Key monitored enterprises reported an average daily coal sales volume of 7.22 million tons for the week of September 12-18, 2025, a week-on-week increase of 5.3%. The average daily production was 7.18 million tons, also up 4.8% week-on-week and 4.4% year-on-year [2][24] Price Trends - As of September 19, 2025, the price of thermal coal (Q5500K) in the Bohai Rim was 676 CNY/ton, a week-on-week increase of 0.15%. The import price index for thermal coal was 812 CNY/ton, up 4.5% week-on-week. Prices at various ports and production areas also showed increases [3] - The price of coking coal at Jingtang Port was 1610 CNY/ton, up 3.9% week-on-week, while the futures settlement price for coking coal was 1216 CNY/ton, reflecting a 6.9% increase [4] Supply and Demand Dynamics - The total coal inventory monitored was 25.54 million tons as of September 18, 2025, a decrease of 1% week-on-week and 6% year-on-year. The cumulative sales volume of key monitored enterprises was 180.46 million tons, down 2.4% year-on-year [2][24] - The report indicates that the demand from the power and chemical industries has varied, with coal consumption in the power sector down 2.9% year-on-year, while the chemical sector saw an increase of 16% [2][24] Investment Recommendations - The report recommends focusing on companies in the thermal coal sector such as China Shenhua, Shaanxi Coal and Chemical Industry, and others, as well as coking coal companies like Huabei Mining and Shanxi Coking Coal. It also highlights companies in the coke sector that are expected to see profit improvements [6][26]

Investment Rating - The investment rating for the coal industry is "Positive" (maintained) [1] Core Viewpoints - Coal prices have rebounded above 700 RMB, with a current price of 704 RMB/ton, reflecting a week-on-week increase of 24 RMB/ton (3.53%) [3][4] - The demand for non-electric coal is expected to be a highlight in the upcoming months, particularly during the "golden September and silver October" period [4] - The report predicts that the current rebound in coal prices is at a turning point, with potential further increases expected as the market stabilizes [4][5] Summary by Sections Investment Logic - The prices of thermal coal and coking coal are at a turning point, with thermal coal prices expected to recover to long-term contract prices, currently above the second target price of around 700 RMB [4][13] - Future expectations indicate that thermal coal prices could reach a third target price of approximately 750 RMB, with a potential peak at around 860 RMB [4][13] Market Performance - The coal index increased by 3.51% this week, outperforming the CSI 300 index by 3.96 percentage points [8][25] - The average PE ratio for the coal sector is 13.59, and the PB ratio is 1.28, ranking low among all A-share industries [25][31] Coal Price Indicators - As of September 19, the Qinhuangdao Q5500 thermal coal price is 704 RMB/ton, with a week-on-week increase of 24 RMB [20] - The price of coking coal at the Jingtang port has risen to 1670 RMB/ton, reflecting a significant increase from earlier months [21][23] Investment Recommendations - The report suggests a dual logic for investment in coal stocks, focusing on both cyclical recovery and stable dividends, with specific stocks recommended for investment [5][14] - Key stocks identified for investment include: - Cyclical logic: Jinko Coal Industry, Yanzhou Coal Mining - Dividend logic: China Shenhua, Zhongmei Energy - Diversified aluminum elasticity: Shenhua Holdings, Electric Power Investment Energy - Growth logic: Xinjie Energy, Guanghui Energy [5][14][15]

Market Overview - The A-share market showed signs of support amidst fluctuations, with the Shanghai Composite Index closing down 0.30% at 3820.09 points, while the Shenzhen Component and ChiNext Index also experienced slight declines [2] - The total trading volume in the Shanghai and Shenzhen markets was 2.35 trillion yuan, a significant decrease of 817.2 billion yuan compared to the previous trading day [2] Sector Performance - The innovation sector, particularly AI hardware and humanoid robots, has seen a clear decline, with leading stocks like Sanhua Intelligent Control and Jinfa Technology hitting their daily limit down [3] - Defensive sectors, including tourism and hotels, experienced a rally, with stocks like Yunnan Tourism and Guilin Tourism reaching their daily limit up [5] Policy Impact - The Ministry of Commerce and other departments released measures to expand service consumption, which includes 19 initiatives aimed at boosting the tourism sector [5] - The upcoming National Day holiday is expected to further increase tourism demand, as evidenced by the rapid sell-out of train tickets for popular routes [5] Future Outlook - Analysts predict that the recent interest rate cuts by the Federal Reserve will ease pressure on the RMB exchange rate and improve domestic liquidity, potentially providing upward momentum for the A-share market [6] - The market is currently in the "valuation-driven" phase, with expectations of a shift to a "fundamentals-driven" phase as global economic dynamics evolve [6][7]

Group 1 - The core viewpoint of the news highlights the recent stock performance of Pingmei Shenma Energy Company, with a 2.03% increase in share price to 8.05 CNY per share, and a total market capitalization of 19.878 billion CNY [1] - As of July 10, the number of shareholders for Pingmei Shenma decreased by 0.21% to 80,000, while the average circulating shares per person increased by 0.21% to 30,866 shares [2] - The company reported a significant decline in financial performance for the first half of 2025, with operating revenue of 10.12 billion CNY, down 37.74% year-on-year, and a net profit attributable to shareholders of 258 million CNY, down 81.48% year-on-year [2] Group 2 - Since its A-share listing, Pingmei Shenma has distributed a total of 12.782 billion CNY in dividends, with 5.850 billion CNY distributed in the last three years [3] - As of June 30, 2025, major institutional shareholders include Huatai-PB SSE Dividend ETF, holding 42.67 million shares, a decrease of 8.7474 million shares from the previous period, and Guotai CSI Coal ETF, holding 23.0624 million shares, an increase of 479.79 thousand shares [3]

Meeting Overview - The third extraordinary general meeting of shareholders was held on September 16, 2025, at Ping An Building, No. 2 Minzhu Road, Pingdingshan City, Henan Province [2] - All 13 serving directors and 9 serving supervisors attended the meeting, along with the board secretary and a deputy general manager [3][4] Resolutions Passed - The proposal to abolish the supervisory board and amend the Articles of Association and its attachments was approved [3] - All resolutions presented at the meeting were passed [5] Legal Compliance - The meeting was witnessed by Guohao Law Firm (Shanghai), with lawyers Liu Tianyi and Ji Ye confirming that the meeting's procedures and voting were in compliance with relevant laws and the company's Articles of Association, deeming the resolutions legal and valid [5]

证券代码：601666 证券简称：平煤股份 公告编号：2025-077 平顶山天安煤业股份有限公司 2025年第三次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 9 月 16 日 (二)股东大会召开的地点：河南省平顶山市民主路 2 号平安大厦 (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 | 968 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,128,255,904 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 45.6902 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长焦振营先生主持本次股东大会,会议召 集和召开程序、出席会议人员的资格、会议的表决方式和程序均符合《公司 ...

国浩律师（上海）事务所 法律意见书 国浩律师（上海）事务所 关于平顶山天安煤业股份有限公司 2025年第三次临时股东大会的法律意见书 致：平顶山天安煤业股份有限公司 国浩律师（上海）事务所（以下简称"本所"）作为平顶山天安煤业股份有 限公司（以下简称"公司"或"平煤股份"）之特聘法律顾问，根据《中华人民 共和国公司法》（以下简称"《公司法》"）《中华人民共和国证券法》（以下 简称"《证券法》"）《上市公司股东会规则》（以下简称"《股东会规则》"） 《平顶山天安煤业股份有限公司章程》（以下简称"《公司章程》"等法律法规 及规范性文件的规定，指派律师出席并见证了公司于2025年9月16日上午9时30 分在河南省平顶山市民主路2号平安大厦召开的2025年第三次临时股东大会（以 下简称"本次股东大会"），并对本次股东大会的召集、召开程序、出席人员资 格、会议表决程序等事宜进行了审查。 本所依据本法律意见书出具日之前已经发生或存在的事实及中国现行法律、 法规及规范性文件发表法律意见。 本所同意将本法律意见书作为公司本次股东大会公告的法定文件，随公司其 他公告一并提交上海证券交易所审查并予公告。 本所律师已经对公司提供的 ...