山西潞安环保能源开发股份有限公司 担保管理制度 第一章 总则 第一条 为了规范山西潞安环保能源开发股份有限公司（以下简 称"公司"）的担保行为,有效控制公司担保风险，维护股东的合法 权益，根据《中华人民共和国民法典》《中华人民共和国公司法》《中 华人民共和国证券法》和《上海证券交易所股票上市规则》《上市公 司监管指引第 8 号—上市公司资金往来、对外担保的监管要求》《上 海证券交易所上市公司自律监管指引第 1 号—规范运作》等法律法规、 规范性文件和《山西潞安环保能源开发股份有限公司章程》（以下简 称"《公司章程》"）等相关规定，结合公司实际情况，特制定本制 度。 第二条 本制度所称担保是指公司及全资、控股子公司作为担保 人，以自身信用或资产为他人债务履行提供担保的行为，具体包括但 不限于银行贷款担保、债券发行担保、融资租赁担保、其他各种形式 的信用担保以及各种非典型担保。 不得对进入重组、破产清算程序或资不抵债的子公司/参股公司 提供担保；确需担保且风险可控的，须履行董事会或股东会审议程序。 担保后向公司财务管理部备案。 第六条 公司及所属子公司提供担保时，应遵循以下原则： （一）原则上仅对具备持续经营能力 ...

第二条 公司在确认和处理有关关联人之间关联关系与关联交 易时，应遵循并贯彻以下原则： （一）尽量避免或减少与关联人之间的关联交易； （二）确定关联交易价格时，应遵循"公平、公正、公开以及等 价有偿"的原则，并以书面协议方式予以确定； （三）对于发生的应当披露的关联交易，应切实履行信息披露的 有关规定。 （四）关联董事和关联股东回避表决的原则； （五）根据规定聘请独立财务顾问或专业评估机构发表意见和 报告的原则； （六）按照实质重于形式的原则从严界定关联人和关联交易。 第三条 公司在处理与关联人之间的关联交易时，不得损害全体 股东特别是中小股东和非关联股东的合法权益。 山西潞安环保能源开发股份有限公司 关联交易准则 第一章 总则 第一条 为了规范山西潞安环保能源开发股份有限公司（以下简 称"公司"）的关联交易，维护公司和全体股东的合法权益，依据中 国证券监督管理委员会《上市公司治理准则》《上海证券交易所股票 上市规则》《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》等法律法规、规范性文件和《山西潞安环保能源开发股份 有限公司章程》（以下简称"《公司章程》"）等相关规定，结合公 司实际，制定本准 ...

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 证券代码：601699 证券简称：潞安环能 公告编号：2025-046 山西潞安环保能源开发股份有限公司 2025年第一次临时股东大会决议公告 (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：山西潞安环保能源开发股份有限公司会议室 (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： (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：《关于取消监事会并废止<监事会议事规则>的议案》 审议结果：通过 表决情况： | 股东类型 | | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 票数 | | 比例（%） | 票数 | 比例 | 票数 | 比例 | | | | | | | （%） | | （%） | | A 股 ...

国浩律师(太原) 事务所 关于 山西潞安环保能源开发股份有限公司 2025年第一次临时股东会 国浩律师(太原)事务所 法律意见书 国浩律师(太原)事务所 关于山西潞安环保能源开发股份有限公司 2 法律意见书 國浩律師(太原)事務所 GRANDALL LAW FIRM (TAIYUAN) 山西省太原市万柏林区长兴路1号华润大厦 T4楼21层邮编:030021 2 1/F,TowerT4,ChinaResourcesBuilding,No.1ChangxingRoad,WanbailinDistrict,Taiyuan,Shanxi 电话/Tel:(+86)(351)7032237/38/39 传真/Fax:(+86)(351)7024340 网址/Website:www.grandall.com.cn 2025年9月 2025 年第一次临时股东会 之 法律意见书 编号:GPBA3877002 致:山西潞安环保能源开发股份有限公司 国浩律师(太原)事务所(以下简称"本所")接受山西潞安环保能源开发 股份有限公司(以下简称"潞安环能"或"公司")的委托,指派弓建峰、鲁悦 欣律师出席了潞安环能于 2025年9月16日 ...

Core Viewpoint - The article discusses the performance of the China Securities State-Owned Enterprises Dividend Index and the related ETF, highlighting the shift in investment logic from style-driven to stock-driven, with a focus on high-quality stocks in traditional high-dividend sectors [1][2]. Group 1: Market Performance - As of September 16, 2025, the China Securities State-Owned Enterprises Dividend Index (000824) decreased by 0.26% [1]. - The leading stocks included Huamao Logistics (603128) up by 2.76%, Jianfa Co. (600153) up by 2.08%, and Jinkong Coal Industry (601001) up by 1.83% [1]. - The National Enterprise Dividend ETF (159515) was adjusted to a latest price of 1.14 yuan, with an intraday turnover of 0.89% and a total transaction of 428,400 yuan [1]. Group 2: Investment Trends - The investment logic in the dividend sector is transitioning from style-driven to stock-driven, with traditional high-dividend industries like construction materials, coal, and steel seeing significant gains [2]. - The China Securities State-Owned Enterprises Dividend Index comprises 100 listed companies selected for their high cash dividend yields and stable dividends, reflecting the overall performance of high-dividend securities among state-owned enterprises [2]. - As of August 29, 2025, the top ten weighted stocks in the index accounted for 16.84% of the total index weight, with notable companies including COSCO Shipping Holdings (601919) and Jizhong Energy (000937) [2][4].

Investment Rating - The report maintains an investment rating of "Leading the Market" for the coal industry, indicating an expected performance that exceeds the benchmark index by more than 10% [1][31]. Core Insights - The coal supply has been marginally decreasing from January to August 2025, with a cumulative production of 3.165 billion tons, reflecting a year-on-year increase of 2.8%, but with a declining growth rate [4]. - In August 2025, coal prices experienced an unexpected surge due to supply-demand tensions, with significant increases in various coal types, particularly in thermal coal [6][7]. - The report highlights that domestic coal supply continues to contract, which has led to an increase in coal imports, with August imports rising by 20.02% month-on-month, despite a year-on-year decline of 6.78% [5][7]. Summary by Sections Supply and Demand - From January to August 2025, the cumulative coal supply showed a marginal decrease, with August production at 391 million tons, down 3.2% year-on-year but up 2.5% month-on-month [4]. - The report notes that terminal demand has been supported by manufacturing and infrastructure investments, with fixed asset investment increasing by 0.5% year-on-year [5]. Price Trends - August saw a significant rebound in coal prices, with various types of coal experiencing different degrees of price increases, particularly in coking coal [6][7]. - The report indicates that the price of thermal coal rose unexpectedly, with the peak occurring later than traditional peak seasons [7]. Investment Recommendations - The report suggests that with the policy shift due to reduced internal competition, there is an improved market risk appetite, making certain stocks more attractive. Key stocks to watch include Huayang Co., Jinkong Coal Industry, and Shanmei International for thermal coal, and Luanan Energy and Shanxi Coking Coal for coking coal [7].

Group 1 - The coal mining sector increased by 1.29% on September 15, with Electric Power Investment leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] - Key stocks in the coal mining sector showed significant price increases, with Electric Power Investment rising by 4.04% to a closing price of 23.16 [1] Group 2 - The coal mining sector experienced a net inflow of 323 million yuan from main funds, while retail investors saw a net outflow of 250 million yuan [2] - Major stocks like Shanxi Coking Coal and Shaanxi Coal and Chemical Industries had notable net inflows from main funds, indicating strong institutional interest [3] - The overall trading volume in the coal mining sector was substantial, with Shanxi Coking Coal achieving a transaction amount of 1.054 billion yuan [1][2]

Group 1 - The core point of the article highlights the recent stock performance of Lu'an Environmental Energy, which has seen a 3.54% increase on September 15, reaching a price of 13.74 CNY per share, with a total market capitalization of 41.102 billion CNY [1] - Lu'an Environmental Energy has experienced a cumulative increase of 6.02% over the past three days, indicating positive market sentiment [1] - The company's main business activities include coal mining, coal washing, and coke smelting, with coal accounting for 92.66% of its revenue [1] Group 2 - From the perspective of fund holdings, Pengyang Fund has a significant position in Lu'an Environmental Energy, with its Pengyang CSI State-Owned Enterprises Dividend ETF holding 62,800 shares, representing 1.44% of the fund's net value [2] - The ETF has generated a floating profit of approximately 29,500 CNY today and 49,000 CNY during the three-day increase [2] - The Pengyang CSI State-Owned Enterprises Dividend ETF was established on August 25, 2023, with a current scale of 45.9165 million CNY and a year-to-date return of 2.74% [2]

Core Viewpoint - Lu'an Environmental Energy has shown fluctuations in stock performance, with a recent increase in share price and notable trading activity, indicating potential investor interest and market dynamics [1][2]. Company Overview - Lu'an Environmental Energy, established on July 19, 2001, and listed on September 22, 2006, is based in Xiangyuan County, Changzhi City, Shanxi Province. The company primarily engages in raw coal mining, coal washing, and coke smelting, with its main coal types being lean coal, poor lean coal, and poor coal [2]. - The company's revenue composition is as follows: coal accounts for 92.66%, coke for 5.53%, and other sources for 1.81% [2]. Financial Performance - For the first half of 2025, Lu'an Environmental Energy reported a revenue of 14.069 billion yuan, a year-on-year decrease of 20.31%. The net profit attributable to shareholders was 1.348 billion yuan, down 39.44% year-on-year [2]. - The company has distributed a total of 25.851 billion yuan in dividends since its A-share listing, with 14.505 billion yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Lu'an Environmental Energy was 71,000, a decrease of 8.97% from the previous period. The average circulating shares per person increased by 9.86% to 42,132 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 44.742 million shares, an increase of 7.126 million shares from the previous period [3].

Core Viewpoint - The coal supply-demand fundamentals are expected to improve due to the "check overproduction" policy leading to reduced output and the anticipated recovery in non-electric coal demand during the "golden September and silver October" peak season, providing upward price elasticity for both types of coal [1][3]. Group 1: Coal Price Dynamics - Thermal coal is categorized as a policy coal type, with expectations for prices to rebound to long-term contract prices, recently surpassing the second target price of around 700 CNY per ton [2]. - The current adjustment in prices is attributed to the seasonal transition from summer to autumn, which has weakened coal consumption, but the upcoming peak season is expected to drive prices up again, particularly in the chemical sector [2][3]. - Coking coal prices are more influenced by supply-demand fundamentals, with target prices based on the ratio of coking coal to thermal coal prices, indicating potential target prices of 1608 CNY, 1680 CNY, 1800 CNY, and 2064 CNY for different levels of market performance [2]. Group 2: Investment Opportunities - The coal sector exhibits dual attributes of cyclical elasticity and stable dividends, with many coal companies maintaining high dividend yields despite overall profit pressures [3]. - Six listed coal companies have announced interim dividend plans totaling 24.13 billion CNY, reflecting a strong commitment to shareholder returns [3]. - Key coal stocks benefiting from these trends include: - Cycle logic: Jin控煤业, 兖矿能源, 平煤股份, 淮北矿业, 潞安环能 - Dividend logic: 中国神华, 中煤能源, 陕西煤业 - Diversified aluminum elasticity: 神火股份, 电投能源 - Growth logic: 新集能源, 广汇能源 [3].