证券代码：601699 股票简称：潞安环能 公告编号：2024-060 山西潞安环保能源开发股份有限公司 第八届监事会第四次会议决议公告 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 届监事会第四次会议于 2024 年 12 月 12 日在公司会议室以现场结合 通讯的方式召开。会议通知已于 2024 年 12 月 6 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。 二、监事会会议审议情况 本次监事会审议并通过了以下议案： （一）《关于审议预计公司 2025 年度日常关联交易的议案》 监事会认为：该等交易属于日常性关联交易，是公司正常生产经 营活动的客观需要，交易价格和方式对交易双方是公允合理的，没有 损害非关联股东的利益，遵循公平、公正、公开的市场原则，符合全 体股东的利益，不存在损害公司和投资者利益的情形。 具 体 内 容 详 见 公 司 同 日 披 露 于 上 海 证 券 交 易 所 网 站 （www ...

2024 年第二次临时股东会 召开的日期时间：2024 年 12 月 30 日 10 点 00 分 召开地点：山西潞安环保能源开发股份有限公司会议室 证券代码：601699 证券简称：潞安环能 公告编号：2024-062 山西潞安环保能源开发股份有限公司 关于召开 2024 年第二次临时股东会的通知 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： 一、 召开会议的基本情况 (一) 股东会类型和届次 (五) 网络投票的系统、起止日期和投票时间。 股东会召开日期：2024年12月30日 本次股东会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 12 月 30 日 至 2024 年 12 月 30 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召 ...

证券代码：601699 股票简称：潞安环能 公告编号：2023-061 山西潞安环保能源开发股份有限公司 关于预计 2025 年度日常关联交易的公告 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： ●本次日常关联交易事项尚需提交股东大会审议 ●本次关联交易是与公司日常经营相关的关联交易，属于正常经营行为，以市 场价格、国家收费标准或行业惯例为基础协商定价，公平合理，不会对公司本期及 未来的财务状况、经营成果产生大的影响，也不会影响上市公司的独立性。 一.日常关联交易基本情况 （一）日常关联交易履行的审议程序 因生产经营需要以及公司所处地理环境、历史渊源等客观因素，我公司拟与实 际控制人潞安化工集团有限公司及其子公司等关联企业在平等互利、协商一致的基 础上签订关联交易协议。 按照《上海证券交易所股票上市规则》及《上市公司自律监管指引第 5 号—— 交易与关联交易》的有关规定，公司与关联企业 2025 年度拟发生日常关联交易事项， 交易金额在 3000 万元以上且占公司最近一期经审计净资产绝对值 5％以上的 ...

山西潞安环保能源开发股份有限公司 独立董事 2024年第三次专门会议纪要 独董专字 2024 第 03 号 刘 洲 张志敏 山西潞安环保能源开发股份有限公司独立董事 2024年 第三次专门会议于 2024年12月12日以通讯方式召开。会 议应到独立董事三人,实到独立董事三人,符合《上市公司 独立董事管理办法》等法律法规、规范性文件和《公司章程》 的有关规定。全体独立董事共同推举刘渊先生召集并主持本 次会议。经会议审议并表决,一致通过以下事项: 一、审核事前认可事项 1、事前认可"预计公司二〇二五年度日常关联交易" 的关联交易事项 经审慎核查,公司 2025年度与关联方拟发生的日常关 联交易符合公司的经营发展需要,遵循平等、自愿、等价、 有偿的原则,定价合理、公允,不存在损害公司及股东利益, 特别是中小股东利益的情形,没有对上市公司独立性构成影 响,不会对关联方形成依赖。 表决结果:全体独立董事同意,无反对,无弃权。经表 决同意提交董事会审议。 (本页以下无正文,下转签署页) (本页无正文,为山西潞安环保能源开发股份有限公司 【独立董事 2024 年第三次专门会议】纪要之签署页) 全体独立董事: 362 362 ...

二○二四年第二次临时股东会会议资料 601699 潞安环能 山西潞安环保能源开发股份有限公司 二〇二四年十二月三十日 | | | 山西潞安环保能源开发股份有限公司 会议须知 为维护广大投资者的合法权益，确保股东会的正常秩序和议事 效率，根据《公司法》、公司《章程》和公司《股东大会议事规则》 的有关规定，特制定如下参会须知，望出席股东会的全体人员严格 遵守： 一、为能及时统计出席会议的股东（股东代理人）所代表的持 股总数，务请登记出席股东会的股东及股东代表于会议开始前半小 时到达会议地点，并携带身份证明、股东账户卡、授权委托书等原 件，以便签到入场；参会资格未得到确认的人员，不得进入会场。 二、为保证股东会的严肃性和正常秩序，切实维护与会股东（或 代理人）的合法权益，除出席会议的股东（或代理人）、公司董事、 监事、董事会秘书、高级管理人员、公司聘请的律师、会计师及董 事会邀请的人员外，公司有权依法拒绝其他人员进入会场。 三、股东参加股东会，依法享有发言权、表决权等各项权利， 并履行法定义务和遵守有关规则。对于干扰股东会秩序和侵犯其他 股东合法权益的，公司将报告有关部门处理。 四、全部议案宣读完后，在对各项议案进 ...

证券代码：601699 股票简称：潞安环能 公告编号：2024-059 山西潞安环保能源开发股份有限公司 第八届董事会第六次会议决议公告 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 届董事会第六次会议于 2024 年 12 月 12 日在公司会议室以现场结合 通讯方式召开。会议通知已于 2024 年 12 月 6 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。 本次会议由公司董事长王志清先生主持，四名监事列席会议。本 次会议的召集、召开、表决程序和所形成的决议均符合《公司法》等 相关法律法规及《公司章程》的相关规定。 二、董事会会议审议情况 本次董事会审议并通过了以下议案： （一）《关于预计公司二〇二五年度日常关联交易的议案》 具体内容见公司 2024-061 号《关于预计公司 2025 年度日常关联 交易的公告》。 公司关联董事王志清先生、韩玉明先生、毛永红先生、徐海东先 生、史红邈先生和刘进平先生回避表 ...

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [2]. Core Views - The company is positioned as a leading producer of injection coal in China, with a steady increase in production scale and a strong financial position due to reduced debt and increased cash flow [5][12]. - The company has significant potential for future capacity expansion as it can continue to acquire coal mining projects from its parent group [12]. - The coal market is expected to stabilize with a gradual increase in prices, supported by improving demand forecasts [11][12]. Summary by Sections Company Overview - The company is a major listed coal enterprise under Shanxi Luan Mining Group, focusing on the production of thermal and injection coal [5][25]. - As of the end of 2023, the company operates 23 mines with a total capacity of 48.2 million tons, ranking second in coal production and sales in Shanxi province [5][12]. - The company has seen a compound annual growth rate (CAGR) of 7.82% in raw coal production and 7.63% in sales from 2018 to 2023 [5]. Financial Health - The company has significantly increased its cash reserves and optimized its debt structure, reducing interest-bearing liabilities by nearly 15 billion yuan year-on-year [6][38]. - As of Q3 2024, the company's cash reserves are 14.75 times its interest-bearing debt, with a debt ratio of 47.15% and an interest-bearing debt ratio of 1.69% [6][38]. - The company has raised its cash dividend payout ratio to around 60% in response to higher coal prices and profits, with a projected dividend yield of approximately 4.6% as of November 12, 2024 [7][32]. Market Outlook - The report anticipates a stable recovery in coal prices, particularly for thermal coal, with expected average prices around 890 yuan per ton in Q4 2024 [11]. - Injection coal prices are expected to stabilize as demand from the construction sector improves, although significant price increases are not anticipated due to the lack of substantial demand recovery [11][12]. Profit Forecast and Investment Recommendations - The company is projected to generate revenues of 35.85 billion yuan in 2024, with net profits expected to decline by 55.1% to 3.55 billion yuan [8][12]. - The report suggests that the company's earnings will recover as coal prices stabilize, and it maintains a strong cash flow and low debt levels, supporting its high dividend payout [12].

证券代码：601699 股票简称：潞安环能 编号：2024-058 山西潞安环保能源开发股份有限公司 | 运营指标 | 单位 | 2024 年 | 10 月 | 2023 年 | 10 月 | 同比变化（%） | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 本月 | 累计 | 本月 | 累计 | 本月 | 累计 | | 原煤产量 | 万吨 | 469 | 4716 | 493 | 4955 | -4.87 | -4.82 | | 商品煤销量 | 万吨 | 366 | 4173 | 436 | 4477 | -16.06 | -6.79 | 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。 特此公告。 山西潞安环保能源开发股份有限公司董事会 2024 年 11 月 15 日 2024 年 10 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 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Insights - The company's revenue and net profit for the first three quarters of 2024 showed significant declines, with a year-on-year decrease of 19.3% in revenue and 61.5% in net profit [5] - The company has successfully acquired coal exploration rights in Shanxi province, which is expected to enhance its resource reserves and support sustainable development [7] - The forecast for net profit from 2024 to 2026 indicates a gradual recovery, with expected figures of 36.7 billion, 49.6 billion, and 53.7 billion respectively [8] Summary by Sections Financial Performance - In the first three quarters of 2024, the company achieved revenue of 26.65 billion and net profit of 2.8 billion, reflecting a year-on-year decline of 19.3% and 61.5% respectively [5] - The third quarter alone saw a net profit of 570 million, down 71% year-on-year and 39% quarter-on-quarter [5] Operational Data - The company's coal production and sales in the third quarter increased by 3% and 6% respectively, while the average selling price decreased by 14.3% year-on-year [6] - The total coal production for the first three quarters was 42.47 million tons, a decrease of 4.8% year-on-year, with a total sales volume of 38.07 million tons, down 5.8% [6] Cost and Profitability - The comprehensive unit cost for the first three quarters was 376 yuan per ton, up 9.6% year-on-year, while the gross profit margin decreased to 43.2%, down 11.3 percentage points [6] - The gross profit from coal operations for the first three quarters was 10.89 billion, a decline of 34.6% year-on-year [6] Future Outlook - The company is expected to face continued pressure on performance in 2024 due to reduced production and increased costs, but improvements are anticipated in 2025 and 2026 [8] - The estimated earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 1.23, 1.66, and 1.80 yuan respectively [8]

Summary of Conference Call Company and Industry - The conference call involved **Lu'an Huanneng**, a company in the **coal industry**. Key Points and Arguments 1. **Production Recovery**: The company reported a recovery in production starting from Q2, reaching levels comparable to the previous year by Q3, with a forecast of maintaining production at 1.3 billion tons for the year [1][2][3] 2. **Sales and Pricing Trends**: There was a temporary increase in coal prices due to policy changes and supply reductions, but recent trends indicate a decline in prices, with adjustments of 20 to 50 yuan per ton noted [2][3] 3. **Sales Volume and Pricing**: The average selling price for various coal products decreased by approximately 50 yuan per ton in Q3 compared to Q2, with specific prices for different coal types provided [4][5] 4. **Cost Factors**: The increase in production costs was attributed to a rise in resource tax rates and uneven cost increases across different periods, with an estimated impact of around 12 yuan per ton on costs [6][7] 5. **Coke Production**: The company has reduced its coke production capacity due to policy impacts, with current production levels significantly lower than previous years [7][8] 6. **Future Resource Acquisition**: The company is actively seeking to acquire new resources, emphasizing the importance of resource availability for future operations, despite uncertainties in market conditions [11][12] 7. **Capital Expenditure Outlook**: Future capital expenditures are expected to be around 100 million yuan, contingent on the success of resource acquisition and ongoing operational needs [14][15] 8. **Dividend Policy**: The company maintains its commitment to shareholder returns, although future dividend levels may be influenced by operational and capital expenditure needs [15][16] 9. **Market Conditions**: The company anticipates stable market conditions for coal prices, influenced by supply-demand dynamics and potential impacts from international coal markets [16][17] 10. **Competitive Position**: The company believes it has a competitive edge due to the quality of its coal products, which are characterized by high calorific value and low emissions [17] Other Important but Possibly Overlooked Content - The company highlighted the importance of maintaining a balance between production and market demand, indicating that future production adjustments may be necessary based on market conditions [6][7] - There was a discussion on the average mining depth and resource recovery rates, indicating a long-term operational outlook with an estimated resource recovery period of around 35 years [9][10] - The management expressed caution regarding future operational adjustments, indicating that significant changes in production levels may not be expected in the near term [13][14] This summary encapsulates the key insights from the conference call, providing a comprehensive overview of the company's current status and future outlook in the coal industry.