Investment Rating - The report maintains a "Buy" recommendation for several companies in the coal sector, including Shanxi Coal International, Lu'an Environmental Energy, and Yanzhou Coal Mining [2][3][12]. Core Insights - The report highlights a strong demand-supply imbalance in the coal market, with prices expected to continue rising due to seasonal demand and regulatory constraints on supply [1][7][8]. - October saw a decrease in national raw coal production, with a daily average of 13.12 million tons, down 4.3% month-on-month [1][37]. - The report anticipates that coal prices may peak at around 1000 RMB/ton by the end of the year, driven by tight supply and increasing demand as winter approaches [1][8]. Summary by Sections 1. Weekly Insights - The report notes that seasonal demand is gradually being realized, with port coal prices continuing to rise and stabilizing in the latter half of the week [1][7]. - Regulatory inspections have led to a significant contraction in coal supply, particularly in regions like Ulanqab and Linfen [2][11]. 2. Market Performance - As of November 14, the coal sector's weekly decline was 0.8%, outperforming the broader market indices [14][17]. - The report identifies that the coking coal sub-sector experienced the highest weekly increase of 6.2% [17]. 3. Company Dynamics - The report recommends focusing on companies with high spot market exposure, such as Shanxi Coal International and Lu'an Environmental Energy, as well as stable growth companies like Jinko Coal and Huayang Co [12][21]. - Notable stock performance includes An Tai Group, which saw a significant increase of 57.29% in its stock price [21]. 4. Industry Developments - The report discusses the impact of international coal trade dynamics, including increased imports by India and Taiwan, which may influence domestic supply and pricing [25][35]. - It also highlights the ongoing safety inspections and regulatory measures that are expected to limit coal production capacity in the near term [1][26]. 5. Coal Data Tracking - The average price of Shanxi thermal coal remained stable at 682 RMB/ton, while coking coal prices increased slightly to 1484 RMB/ton [45].

为统筹经济发展、民生保障和生态环境保护，中央生态环境保护督察工作领导小组要求精准科学依法推 进边督边改，禁止搞"一刀切"，并简化督察接待安排，切实减轻基层负担。 记者今天从生态环境部了解到，经党中央、国务院批准，第三轮第五批中央生态环境保护督察全面启 动。 本次督察将组建8个例行督察组，从下周起将陆续对北京、天津、河北3省（市），中国华电集团有限公 司、国家能源投资集团有限责任公司、鞍钢集团有限公司、中国宝武钢铁集团有限公司、中国中煤能源 集团有限公司5家中央企业开展例行督察，进驻时间1个月。同时，对北京、天津、河北、山东、河南、 安徽、江苏、浙江等8省（市）开展大运河生态环境保护专项督察，进驻时间两周左右。 （文章来源：央视新闻） ...

证券代码：601898 证券简称：中煤能源公告编号：2025-035 中国中煤能源股份有限公司 2025年10月份主要生产经营数据公告 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法律责任。 关于执行董事、总裁离任的公告 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。 ■ 以上生产经营数据源自本公司内部统计，为投资者及时了解本公司生产经营概况之用，可能与本公司定 期报告披露的数据有差异。 此外，因受到诸多因素的影响，包括（但不限于）国家宏观政策调整、国内外市场环境变化、恶劣天气 及灾害、设备检修维护、安全检查和煤矿地质条件变化等，所公告生产经营数据在月度之间可能存在较 大差异。 上述生产经营数据并不对本公司未来经营情况作出任何明示或默示的预测或保证，投资者应注意不恰当 信赖或使用以上信息可能造成投资风险。 公司将在本公告披露后适时召开月度生产经营数据说明会，具体参会事宜请询公司投资者热线010- 82236028。 中国中煤能源股份有限公司 2025年 ...

Key Points - The coal supply side is significantly contracting due to government policies aimed at reducing overproduction and stabilizing prices, leading to a decrease in coal production capacity utilization from 75.64% in Q4 2023 to 69.3% in Q2 2025 [13][16][20] - Domestic coal prices are expected to stabilize within a "green range" of 570-770 RMB/ton, with spot prices for thermal coal exceeding 800 RMB/ton in major ports [20][21] - Coal imports have decreased significantly, with a total of 34.589 million tons imported from January to September 2025, representing an 11.1% year-on-year decline [21][25] Supply Side Analysis - The implementation of the "anti-involution" policy has effectively reduced the phenomenon of "price for volume" competition, leading to a more sustainable industry development [13][20] - The coal import structure is highly concentrated, with the top four countries (Indonesia, Mongolia, Russia, and Australia) accounting for over 90% of total imports [21][23] - The domestic power sector is prioritizing the procurement of domestic long-term contract coal, further squeezing the demand for imported coal [21][25] Demand Side Analysis - The demand for coal is expected to grow significantly, driven by the electricity sector, with a projected increase of 290 billion kWh in thermal power generation in 2025, a 4.5% year-on-year growth [31] - The overall electricity consumption in China is forecasted to grow by 5.0%-6.0% in 2025, directly boosting coal consumption [31] - The coal chemical industry is emerging as a significant growth point for coal consumption, with a projected increase in coal usage share from 3.9% in 2020 to 6.7%-6.9% by 2025 [34][37] New Energy Impact - The pressure from new energy sources on thermal power is expected to weaken marginally, as the abandonment rates for wind and solar energy have increased, indicating challenges in power consumption [41][47] - Government policies are shifting the focus of the new energy sector from rapid expansion to high-quality development, which may reduce the substitution effect of new energy on thermal power [45][47] Investment Recommendations - The report suggests focusing on China Shenhua and China Coal Energy as potential investment opportunities due to their strong market positions and expected benefits from rising coal prices [4][50] - China Shenhua is noted for its comprehensive industry chain and significant resource acquisition plans, while China Coal Energy is recognized for its cost management and resource advantages [50][53]

Group 1: Company Announcements - 合富中国's stock price increased by 256.29% over 14 trading days, significantly outperforming the industry and Shanghai Composite Index, leading to a suspension for verification starting November 17 [1] - 工业富联's GB300 achieved mass production in Q3, with improved yield and testing efficiency, positively impacting Q4 gross margin [2] - 天孚通信's controlling shareholder plans to transfer 8.5 million shares, representing 1.09% of total equity, due to personal funding needs [4] - 璞泰来 plans to invest 7.6 billion yuan in a new integrated film coating project, aiming to meet growing demand in the battery and energy storage sectors [5] - 电投能源 intends to acquire 100% of Baiyin Hua Coal Power for 11.149 billion yuan, financing through share issuance and cash [6] - 中微公司 reported that a shareholder completed a reduction of 12.52 million shares, totaling 3.351 billion yuan [7] - 瑞德智能 plans to invest 10 million yuan in a leading company in the power plant robotics sector [8] - 盘古智能 aims to acquire control of a petrochemical company by purchasing 11.97% of its shares for 24.64 million yuan [9] - 泰达股份 signed a memorandum for a waste-to-energy project in Egypt [10] - 杭氧股份 is set to establish a venture capital fund focusing on low-temperature technology and nuclear fusion [11] Group 2: Financial Performance and Regulatory Approvals - 复星医药's subsidiary received FDA approval for a biosimilar drug, with applications pending in China and Europe [21] - 长春高新 received approval for a clinical trial of a new growth hormone drug, with no similar products currently available in China [20] - 海辰药业 obtained a drug registration certificate for a new injection product [22] - 上海机场 reported a 12.46% year-on-year increase in passenger throughput for October [23] Group 3: Shareholder Actions - 深桑达 A plans to publicly transfer 80% of a subsidiary's shares with a minimum price of 1.857 billion yuan [12] - 中电港's major shareholder reduced its stake by 1% between October 31 and November 13 [15] - 康龙化成's major shareholders plan to collectively reduce their holdings by up to 1.5% [16] - 科兴制药's controlling shareholder intends to transfer 5% of its shares [17]

Group 1 - Zhao Rongzhe has resigned from his positions as President and Executive Director of China Coal Energy Co., Ltd. due to retirement [1] - The resignation was officially announced on November 14, with the effective date being November 13 [1] - Zhao Rongzhe also held roles in the Board's Strategy and Investment Committee and the Environmental, Social, and Governance (ESG) Committee [1][3] Group 2 - Zhao Rongzhe's original term was set to end in November 2025, indicating a significant early departure [3] - The company has confirmed that there are no outstanding obligations or unfulfilled duties related to his resignation [3]

Group 1: China Construction - The total new contracts signed by China Construction from January to October reached 3.61 trillion yuan, representing a year-on-year increase of 1% [1] Group 2: Changyuan Power - Changyuan Power's subsidiary received approval for the 100MW wind power project in Songzi, Hubei [2] Group 3: China Metallurgical Group - China Metallurgical Group reported a total new contract amount of 845.07 billion yuan from January to October, a decrease of 11.8% year-on-year, while overseas contracts increased by 7.3% to 71.16 billion yuan [4] Group 4: Shapuaisi - Shapuaisi received approval for clinical trials of deoxycorticosterone ketone solution, intended for use during cataract surgery [5] Group 5: Jianfeng Group - Jianfeng Group's subsidiary received approval for clinical trials of a new drug for treating advanced non-squamous non-small cell lung cancer [7] Group 6: Chongqing Steel - Chongqing Steel announced the resignation of its president Meng Wenwang due to work adjustments [8] Group 7: Tianma Technology - Tianma Technology reported an output of approximately 1732.99 tons of eel in October, with a total output of about 15218.73 tons from January to October [10] Group 8: Qingyuan Co. - Qingyuan Co.'s controlling shareholder reduced holdings of convertible bonds by 685,400 units, accounting for 13.71% of the total issuance [11] Group 9: Spring Airlines - Spring Airlines reported a passenger turnover of 506,200.49 million kilometers in October, a year-on-year increase of 20.06% [12] Group 10: China Merchants Port - China Merchants Port reported a total container volume of 17.1714 million TEUs from January to October, a year-on-year increase of 5.1% [13] Group 11: Yangdian Technology - Yangdian Technology announced a change in control following a share transfer [15] Group 12: Wanfu Biology - Wanfu Biology decided to postpone the implementation of its Knowledge City production base project [16] Group 13: Iwu Biology - Iwu Biology terminated the research project for a specific drug, which will reduce its 2025 net profit by approximately 333.79 million yuan [17] Group 14: Hainan Rubber - Hainan Rubber received an insurance payout of 22.9241 million yuan due to revenue loss from rubber price fluctuations [19] Group 15: Xinjiang Tianye - Xinjiang Tianye plans to establish a joint venture with Tianchi Energy to develop coal chemical projects [20] Group 16: China Coal Energy - China Coal Energy's executive director and president Zhao Rongzhe resigned due to reaching retirement age [22] Group 17: Huading Co. - Huading Co. received approval for a stock issuance to specific investors from the Shanghai Stock Exchange [24] Group 18: Zhongmu Co. - Zhongmu Co. decided to waive its right of first refusal for a 4.04% stake in a subsidiary [25] Group 19: Tianlong Co. - Tianlong Co. reported that its subsidiary's stock issuance was approved by the Beijing Stock Exchange [26] Group 20: Hualan Co. - Hualan Co.'s subsidiary plans to invest 20 million yuan in a biotechnology company [27] Group 21: Haichen Pharmaceutical - Haichen Pharmaceutical received a drug registration certificate for a new injection [28] Group 22: Aier Eye Hospital - Aier Eye Hospital plans to invest 300 million yuan in wealth management products [29] Group 23: Xiamen Engineering Machinery - Xiamen Engineering Machinery announced a planned share reduction by a major shareholder [30] Group 24: Guotai Group - Guotai Group successfully acquired 100% of a mining technology company for 110.1 million yuan [31] Group 25: Wanfeng Aowei - Wanfeng Aowei reached a settlement regarding an arbitration matter with a subsidiary [32] Group 26: Taihe Technology - Taihe Technology is undergoing technical upgrades for its ethylene carbonate project [33] Group 27: Renhe Pharmaceutical - Renhe Pharmaceutical's controlling shareholder plans to reduce holdings by 0.21% [34] Group 28: Changshu Bank - Changshu Bank's second-largest shareholder increased its stake to 3.98% [35] Group 29: Overseas Chinese Town A - Overseas Chinese Town A reported a 57% decrease in contract sales in October [36] Group 30: Canadian Solar - Canadian Solar's controlling shareholder expects total revenue of 1.3 to 1.5 billion USD in Q4 2025 [38] Group 31: Zhonggong Education - Zhonggong Education's controlling shareholder's shares will be auctioned due to a loan dispute [40] Group 32: Aikexibo - Aikexibo's shareholders plan to reduce their holdings by up to 3% [42] Group 33: Wanhua Chemical - Wanhua Chemical's shareholder plans to reduce holdings by up to 0.5% [44] Group 34: Jujie Microfiber - Jujie Microfiber's controlling shareholder plans to reduce holdings by up to 2% [45] Group 35: Wangsu Technology - Wangsu Technology's shareholder plans to reduce holdings by up to 1% [46] Group 36: Tianli Lithium Energy - Tianli Lithium Energy received a patent for lithium-ion battery materials [47] Group 37: Heshun Electric - Heshun Electric won a 40 million yuan project for energy storage services [49] Group 38: Changchun High-tech - Changchun High-tech's subsidiary received FDA approval for a clinical trial of a new drug [51] Group 39: Dongrui Co. - Dongrui Co. received an additional export quota for live pigs to Hong Kong [52] Group 40: Zhongwei Co. - Zhongwei Co. set the H-share issuance price at 34 HKD per share [53] Group 41: Fospower Technology - Fospower Technology plans to invest in a lithium sulfide project with partners [54]

1-10月，商品煤产量为1.13亿吨，同比减少0.6%;商品煤销量为约2.12亿吨，同比减少8.0%。 中煤能源（601898）(01898)发布公告，于2025年10月，商品煤产量为1144万吨，同比增加0.9%;商品煤 销量为2188万吨，同比减少12.8%。 ...

中煤能源(01898)发布公告，于2025年11月13日，董事会收到本公司执行董事、总裁赵荣哲先生的书面 辞职报告。赵荣哲先生因退休请求辞去本公司执行董事、总裁、董事会战略与投资委员会委员及安全、 健康与环保委员会(ESG委员会)委员职务。上述辞任自辞职报告送达董事会之日起生效。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，幷明確表示，概不對因本公告全部或任何部份內容 而産生或因依賴該等內容而引致的任何損失承擔任何責任。 | 1．產量 | 萬噸 | 12.2 | 160.0 | 17.4 | 138.7 | -29.9 | 15.4 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2．銷量 | 萬噸 | 12.3 | 161.8 | 15.2 | 135.8 | -19.1 | 19.1 | | （四）硝銨 | | | | | | | | | 1．產量 | 萬噸 | 5.4 | 47.3 | 5.0 | 47.3 | 8.0 | 0.0 | | 2．銷量 | 萬噸 | 5.0 | 47.2 | 5.1 | 47.3 | -2.0 | -0.2 | | 三、煤礦裝備業務 | | | | | | | | | 煤礦裝備產值 | 億元 | 7.5 | 79.6 | 9.3 | 86.5 | -19.4 | -8.0 | 以上生產經營數據源自本公司內部統計，為投資者及時了 ...