证券代码：601699 股票简称：潞安环能 公告编号：2025-009 山西潞安环保能源开发股份有限公司 第八届监事会第五次会议决议公告 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个别及连带责任。 一、 监事会会议召开情况： 山西潞安环保能源开发股份有限公司（以下简称"公司"）第八 届监事会第五次会议于 2025 年 4 月 27 日在公司会议室以现场结合通 讯方式召开。会议通知已于 2025 年 4 月 17 日以通讯方式向全体监事 发出。本次会议应出席监事 7 名，实际出席 7 名。 本次会议由公司监事会主席张国印先生主持。本次会议的召集和 召开符合《公司法》、《上海证券交易所股票上市规则》等法律法规、 部门规章、规范性文件及《公司章程》的相关规定。 以同意 7 票、反对 0 票、弃权 0 票通过该议案 本议案需提交股东会审议 二、监事会会议审议情况 本次监事会审议并通过以下决议： （一）《二○二四年度监事会工作报告》 以同意 7 票、反对 0 票、弃权 0 票通过该议案 本议案需提交股东会审议 （二）关于审核公司《二○二四年度 ...

证券代码：601699 股票简称：潞安环能 公告编号：2025-008 山西潞安环保能源开发股份有限公司 第八届董事会第八次会议决议公告 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。 一、 董事会会议召开情况： 山西潞安环保能源开发股份有限公司（以下简称"公司"）第八 届董事会第八次会议于 2025 年 4 月 27 日在公司会议室以现场方式召 开。会议通知已于 2025 年 4 月 17 日以通讯方式向全体董事发出。本 次会议应出席董事 9 名，实际出席 9 名。 会议由公司董事长王志清先生主持，公司 5 名监事列席会议。本 次会议的召集和召开符合《公司法》、《上海证券交易所股票上市规则》 等法律法规、部门规章、规范性文件及《公司章程》的相关规定。 二、 董事会会议审议情况： （一）《二○二四年度董事会工作报告》 以同意 9 票、反对 0 票、弃权 0 票通过该议案 本议案需提交股东会审议 （二）《二○二四年度独立董事武惠忠工作报告》 报告具体内容见上海证券交易所网站 www.sse.com.cn。 以同意 9 票、 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥6,967,788,255.54, a decrease of 19.53% compared to ¥8,659,034,728.96 in the same period last year[2]. - Net profit attributable to shareholders was ¥657,428,011.58, down 48.95% from ¥1,287,852,801.45 year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥672,127,390.15, a decrease of 47.68% compared to ¥1,284,675,721.42 in the previous year[2]. - Basic earnings per share were ¥0.22, down 48.84% from ¥0.43 year-on-year[3]. - Net profit for Q1 2025 was CNY 560,655,726.85, a decline of 63.5% from CNY 1,534,401,207.40 in Q1 2024[16]. - Earnings per share for Q1 2025 was CNY 0.22, compared to CNY 0.43 in Q1 2024, indicating a 48.8% decrease[16]. - The total comprehensive income for Q1 2025 was approximately ¥620.99 million, down from ¥761.78 million in Q1 2024[26]. Cash Flow - The net cash flow from operating activities was -¥2,420,460,514.73, a decline of 54.67% from -¥1,564,883,331.76 in the same period last year[2]. - Cash flow from operating activities for Q1 2025 was -2,420,460,514.73 RMB, compared to -1,564,883,331.76 RMB in Q1 2024, indicating a decline in cash flow[19]. - The company's operating cash flow for Q1 2025 was negative at approximately -¥2.43 billion, compared to -¥1.39 billion in Q1 2024[28]. - The company experienced a decrease in cash inflow from operating activities, totaling approximately ¥3.60 billion in Q1 2025, compared to ¥4.66 billion in Q1 2024[28]. Assets and Liabilities - Total assets at the end of the reporting period were ¥79,276,356,538.61, a decrease of 1.26% from ¥80,284,929,568.91 at the end of the previous year[3]. - The company's total assets as of March 31, 2025, amounted to 79.28 billion RMB, a decrease from 80.28 billion RMB at the end of 2024[12][13]. - Total liabilities decreased to CNY 30,339,520,377.95 in the latest reporting period from CNY 32,309,090,472.77 in the previous period, a reduction of 6.1%[14]. - The total liabilities decreased to 29,012,997,711.50 RMB as of March 31, 2025, from 30,905,181,351.15 RMB at the end of 2024[22]. - The company's total liabilities include accounts payable of 12.80 billion RMB and other payables of 2.48 billion RMB[13]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 74,930[8]. - The total equity increased to CNY 48,936,836,160.66 from CNY 47,975,839,096.14, reflecting a growth of 2.0%[14]. - The company's total equity increased to 30,941,250,117.55 RMB as of March 31, 2025, from 30,188,126,595.84 RMB at the end of 2024[23]. Operational Metrics - The company produced 13.57 million tons of raw coal and sold 11.87 million tons of commercial coal, achieving a sales revenue of 644.39 million RMB[10][11]. - The average selling price of commercial coal was 542.80 RMB per ton[11]. - The company’s inventory decreased to 245,067,549.25 RMB in Q1 2025 from 344,276,352.02 RMB in Q4 2024, indicating a reduction of approximately 28.8%[21]. - The company’s cash inflow from sales of goods and services was 6,631,329,539.54 RMB in Q1 2025, down from 8,088,803,914.66 RMB in Q1 2024, representing a decline of about 17.9%[19]. Investment and R&D - The company reported an investment income of CNY 39,177,565.44 in Q1 2025, significantly higher than CNY 2,453,976.70 in Q1 2024[15]. - Research and development expenses for Q1 2025 were CNY 188,846,677.21, slightly down from CNY 194,767,358.73 in Q1 2024[15]. - Research and development expenses for Q1 2025 were approximately ¥169.86 million, slightly down from ¥171.63 million in Q1 2024[25]. Future Outlook - Future outlook includes potential market expansion and new product development strategies, although specific details were not disclosed in the current report[18].

Financial Performance - The company's operating revenue for 2024 was CNY 35.85 billion, a decrease of 16.89% compared to CNY 43.14 billion in 2023[20]. - The net profit attributable to shareholders for 2024 was CNY 2.45 billion, down 69.08% from CNY 7.92 billion in 2023[20]. - Basic earnings per share for 2024 were CNY 0.82, reflecting a decline of 69.06% from CNY 2.65 in 2023[21]. - The weighted average return on equity decreased to 5.20% in 2024, down 11.17 percentage points from 16.37% in 2023[21]. - The net cash flow from operating activities for 2024 was CNY 4.96 billion, a decrease of 43.92% compared to CNY 8.85 billion in 2023[20]. - Total assets at the end of 2024 were CNY 80.28 billion, down 7.47% from CNY 86.76 billion at the end of 2023[20]. - The net assets attributable to shareholders decreased by 3.86% to CNY 46.20 billion at the end of 2024 from CNY 48.06 billion at the end of 2023[20]. - The company reported non-recurring gains of CNY 65.24 million in 2024, compared to CNY 32.27 million in 2023[25]. - The company experienced a significant decline in quarterly net profit, with a loss of CNY 348.84 million in Q4 2024[23]. Production and Sales - In 2024, the company achieved a raw coal production of 57.57 million tons and a sales volume of 52.25 million tons, generating operating revenue of 35.85 billion yuan and a total profit of 4.107 billion yuan, with earnings per share of 0.82 yuan[30]. - The average selling price of commodity coal was 645.64 RMB per ton, reflecting a decrease due to lower market prices and reduced sales volume[43]. - The company's total operating revenue decreased by 16.89% year-on-year to approximately 35.85 billion RMB, primarily due to the decline in commodity coal prices and sales volume[44]. - The company achieved a coal chemical industry consumption growth of 8.3% year-on-year, driven by increased demand and favorable policies[39]. - The total operating revenue for the coal mining sector was approximately CNY 33.73 billion, a decrease of 15.68% year-on-year, with a gross margin of 39.48%[47]. - The total operating revenue for the coking industry was approximately CNY 1.66 billion, a decrease of 40.77% year-on-year, with a gross margin of -18.72%[47]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 0.41 CNY per share (including tax) based on a total share capital of 2,991,409,200 shares as of December 31, 2024[6]. - The total cash dividend amount for the recent fiscal year is CNY 1,226,477,772, which represents 50.07% of the net profit attributable to ordinary shareholders[113]. - Over the last three fiscal years, the cumulative cash dividend amount is CNY 14,505,343,210.80, with a cash dividend ratio of 177.28% relative to the average annual net profit of CNY 8,181,963,889.94[115]. Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company has not reported any instances where more than half of the board members could not guarantee the report's authenticity[7]. - The company has established a management system for subsidiaries to ensure compliance with corporate governance and financial management standards[118]. - The company is committed to improving internal control and governance systems to enhance operational efficiency and protect investor interests[82]. Environmental and Social Responsibility - The company has invested CNY 38,500,000 in environmental protection during the reporting period[120]. - The company actively fulfilled its social responsibilities, hiring 2,482 new employees and donating 30.94 million yuan to local economic development[37]. - The company implemented carbon reduction measures that resulted in a total reduction of 280,499 tons of CO2 equivalent emissions through the use of clean energy and carbon reduction technologies[140]. - Total investment in social responsibility projects amounted to 70.69 million yuan, including 30.94 million yuan in cash donations and 39.75 million yuan in material assistance[142]. Future Outlook and Strategy - The company aims to maintain coal production at a scale of 50 million tons and achieve operating revenue exceeding 30 billion yuan in 2025[69]. - The company plans to implement a "variety coal expansion and market expansion" strategy to increase the proportion of high-efficiency coal and enhance its market position[69]. - The company is focusing on green development by applying new green mining technologies and promoting comprehensive utilization of coal mine gas[71]. - The company is committed to zero safety production accidents and minimizing environmental pollution risks in its operations[69]. Risks and Challenges - The company acknowledges potential uncertainties in achieving its 2025 operational targets due to coal industry policies and supply-demand factors[7]. - The company faces risks related to industry cycles and market fluctuations, with a high dependency on coal prices impacting revenue and profit margins[79]. - The company acknowledges safety production and environmental policy risks, which could increase operational costs and affect coal production[80].

证券代码：601699 股票简称：潞安环能 公告编号：2025-012 山西潞安环保能源开发股份有限公司 关于 2024 年度利润分配预案的公告 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。 重要内容提示： ●每股分配比例：每股派发现金红利 0.41 元（含税），不进行送股和公积 金转增股本。 ●本次利润分配将以实施权益分派股权登记日登记的总股本为基数，具体 日期将在权益分派实施公告中明确。 ●在实施权益分派的股权登记日前本公司总股本发生变动的，公司拟以实 施权益分派股权登记日的总股本为基准，维持每股分配金额不变，相应调整利 润分配总额。 ●本次利润分配不会导致公司触及《上海证券交易所股票上市规则》第 9.8.1 条第一款第（八）项规定的可能被实施其他风险警示的情形。 一.公司 2024 年度利润分配预案 （一）利润分配方案的具体内容 经立信会计师事务所（特殊普通合伙）审计，截至 2024 年 12 月 31 日，公 司母公司报表中期末未分配利润为 19,530,246,850.58 元。本次利润分配方案如 下： - ...

山西潞安环保能源开发股份有限公司 2025 年 3 月主要运营数据公告 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。 | 运营指标 | 单位 | 2025 | 年 3 月 | 2024 | 年 3 月 | 同比变化（%） | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 本月 | 累计 | 本月 | 累计 | 本月 | 累计 | | 原煤产量 | 万吨 | 470 | 1357 | 454 | 1324 | 3.52 | 2.49 | | 商品煤销量 | 万吨 | 409 | 1187 | 385 | 1181 | 6.23 | 0.51 | 以上主要运营数据来自本公司初步统计，可能与公司定期报告披 露的数据有差异，仅供投资者及时了解公司生产经营状况，不对公司 未来经营状况作出预测或承诺，敬请广大投资者理性投资，注意投资 风险。 证券代码：601699 股票简称：潞安环能 编号：2025-007 特此公告。 2025 年 4 月 16 日 山西潞安环 ...

山西潞安环保能源开发股份有限公司 证券代码：601699 股票简称：潞安环能 公告编号：2025-006 本次变更后的签字注册会计师近三年无执业行为受到刑事处罚，无受到证 关于变更签字会计师的公告 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。 山西潞安环保能源开发股份有限公司（以下简称"公司"）于 2024 年 4 月 19 日召开了第七届董事会第二十一次会议，审议通过了《关于续聘二○二四年 度审计机构的议案》，同意续聘信永中和会计师事务所（特殊普通合伙）为公司 2024 年度内部控制审计机构。具体内容详见公司于 2024 年 4 月 19 日在上海证 券交易所网站（www.sse.com.cn）上披露的《关于续聘 2024 年度审计机构的公 告》（公告编号：2024-022）。 公司于 2025 年 4 月 2 日收到信永中和会计师事务所（特殊普通合伙）《关 于变更山西潞安环保能源开发股份有限公司 2024 年度内部控制审计签字注册会 计师的告知函》，现将具体情况公告如下： 一、本次签字注册会计师变更情况 信永中和会 ...

Core Viewpoints - The coal sector has experienced a high-level retreat in the first two months of 2025, underperforming the market by 11.8 percentage points, ranking last among all industry indices [4][14]. - The coal price is expected to stabilize and gradually recover due to improved industrial demand, slowing production growth, and reduced import expectations [4][29]. Group 1: Coal Sector Review - In the first two months of 2025, the coal sector has declined by 10.0%, ranking 30th out of 30 in the industry indices [4][14]. - The sub-sectors of thermal coal, coking coal, and coke have seen respective declines of 15.5%, 11.4%, and 7.4% in the first two months [14]. - As of March 18, 2025, the coal sector's price-to-earnings (PE) ratio is at 10.4 times, which is at a historical average level, while the price-to-book (PB) ratio is at 1.33 times, also at a historical average [19][23]. Group 2: Coal Market Review - The growth rate of electricity consumption has dropped to 1.3% in the first two months, while non-electric demand has shown overall improvement [4][29]. - Domestic coal prices have been weak since the beginning of the year, with thermal coal prices stabilizing in March [29]. - The import growth rate of coal has decreased to 1.8% in the first two months of 2025 [4][29]. Group 3: Recent Market Dynamics - Port thermal coal prices have slightly declined, while prices in production areas have generally rebounded [4][29]. - The price of thermal coal is expected to stabilize in the short term due to inventory reductions at southern ports and coastal power plants [4][29]. - Coking coal prices have continued to decline, but demand is expected to improve as the spring construction season approaches [4][29]. Group 4: Industry Outlook - The coal price is expected to find support at the bottom, with the sector's valuation and dividend advantages becoming more pronounced [4][29]. - The anticipated average coal price for 2025 may decline, but leading companies are expected to maintain stable profitability due to effective cost control [4][29]. - Key companies with robust dividends include Shaanxi Coal and China Shenhua, while companies with lower valuations and long-term growth potential include Xinji Energy and Yanzhou Coal [4][29].

行业周报 | 煤炭 证券研究报告 推荐（维持） 报告日期 2025 03 16 相关研究 2025.3.2- 2025.3.8 -2025.03.09 2025 - 2025.03.05 2025.2.23- 2025.3.1 -2025.03.02 分析师：王锟 S0190521010002 wangkun89@xyzq.com.cn 分析师：李冉冉 S0190525010002 liranran@xyzq.com.cn 煤炭行业周报（2025.3.9-2025.3.15）—— 产地煤价回升，静待非电需求复苏 投资要点： 3 9 2742.0 880.3/1211.4/650.3 -1.9/+6.8/-5.0 ⚫ 3 14 1400 / 20 / 1430 / 5# 870 / 5# 1050 / 5 / 3 14 1241 / 43 / 1371 / 21 / 130 / 22 / ⚫ 请阅读最后评级说明和重要声明 1/14 ⚫ ⚫ | | 4 | | --- | --- | | | 4 | | | 8 | | | 9 | | | 10 | | 11 | | | 2025.3.10-2025.3.14 | ...