中国中煤能源股份有限公司 2026 年第一次临时股东会 会议资料 2026 年 1 月 | 会 | 议 议 案 | | --- | --- | | | 关于选举高士岗先生为公司第五届董事会执行董事的议案 3 | 中煤能源 2026 年第一次临时股东会会议资料 会 议 须 知 为维护投资者的合法权益，保证股东会的正常秩序和议事效 率，根据《公司法》《公司章程》等规定，特制定如下会议须知： 一、参会法人股东代表须持法人单位营业执照复印件、授权委 托书、持股凭证和出席人身份证进行登记；自然人股东本人出席会 议须持本人身份证进行登记；委托代理人须持有授权委托书、委托 人身份证或复印件、代理人身份证、持股凭证进行登记。 二、本次临时股东会采取现场与网络投票相结合的方式进行表 决，股东和股东代表以其所代表的有表决权的股份数额行使表决 权，投票的具体事宜详见公司于 2025 年 12 月 30 日发布的《中国 中煤能源股份有限公司关于召开 2026 年第一次临时股东会的通 知》。 三、现场出席本次股东会的股东和股东代表应于 2026 年 1 月 30 日或之前办理会议登记。 中煤能源 2026 年第一次临时股东会会议资料 ...

( 于中華人民共和國註冊成立的股份有限公司 ) (股份代號：01898) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而發表。 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之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 以下為中國中煤能源股份有限公司於上海證券交易所網站刊發之《中國中煤能源股 份有限公司 2026 年第一次臨時股東會會議資料》。 承董事會命 中國中煤能源股份有限公司 董事長、執行董事 王樹東 中國 北京 2026 年 1 月 16 日 於本公告刊發日期，本公司的執行董事為王樹東、廖華軍；非執行董事為徐倩；獨立非執 行董事為景奉儒、詹豔景和黃江天。 * 僅供識別 中国中煤能源股份有限公司 2026 年第一次临时股东会 会议资料 2026 年 1 月 三、现场出席本次股东会的股东和股东代表应于 2026 年 1 月 30 日或之前办理会议登记。 四、股东和股东代表依法享有发言权、质询权、表决权等股东 权利，并认真履行法定义务，不得侵犯其他股东合法权益， ...

Core Viewpoint - The company aims to focus on the construction of a new energy system and the clean and efficient development and utilization of coal as its primary direction for future growth [1] Group 1: Strategic Focus - The company will strengthen basic research, original innovation, and key core technology breakthroughs to promote deep integration of technological and industrial innovation [1] - The company plans to establish a green and low-carbon original technology source, focusing on deep earth development, green chemicals, and new materials [1] Group 2: Industry Optimization - The company will continuously optimize and adjust its industrial layout, promoting the combination of traditional energy and new energy, as well as multi-energy complementarity [1] - The company is concentrating on achieving "fewer people, no people" in coal mining, "fewer people, less carbon" in coal consumption, and "fewer people, no carbon" in coal-based new materials [1] Group 3: Clean Utilization of Coal - The company is committed to advancing the clean and efficient utilization of coal, transitioning coal from being merely a fuel to being used as "raw materials + materials" [1]

Group 1: Central Enterprises' Responsibilities and Innovations - Central enterprises are urged to recognize their responsibilities and contribute to high-quality economic and social development, improve people's livelihoods, and support the modernization of China [1] - The State-owned Assets Supervision and Administration Commission has selected the top ten national key projects and super-engineering initiatives for central enterprises in 2025 [1] Group 2: China National Petroleum Corporation (CNPC) - CNPC's ethylene project in Dushanzi, Tarim, with a capacity of 1.2 million tons/year, is set to be completed in 2026, featuring over 98% localization of equipment and a green production model [2] - CNPC aims to enhance energy security by accelerating domestic oil and gas exploration and development, and expanding international energy cooperation [2] Group 3: National Petroleum and Natural Gas Pipeline Group - The Sichuan section of the "West-to-East Gas Transmission" project has been completed, increasing gas transmission capacity by approximately 14 billion cubic meters annually [4] - The company plans to implement innovative actions to support the construction of a new energy infrastructure focused on flexible energy conversion and efficient distribution [5] Group 4: China Electronics Corporation - The company aims to develop a complete domestic EDA tool system and high-performance chips by 2026, enhancing the "China Chip" capability [6] - China Electronics will focus on integrating the entire semiconductor industry chain, including design, manufacturing, and supply chain [7] Group 5: China Coal Energy Group - The liquid sunshine demonstration project in Inner Mongolia is expected to be operational in 2026, utilizing renewable energy to produce green hydrogen and methanol [8] - The company emphasizes the importance of technological innovation and aims to optimize its industrial layout towards clean and efficient coal utilization [9] Group 6: China National Building Material Group - The world's first zero-carbon intelligent manufacturing base for fiberglass is expected to be operational in 2026, using 100% green electricity [10] - The company plans to enhance its research and development efforts to support the modernization of the materials industry [11] Group 7: China Railway Rolling Stock Corporation (CRRC) - The CR450 high-speed train, capable of reaching speeds of 400 km/h, will undergo comprehensive testing in 2026, marking a significant advancement in China's high-speed rail technology [12] - CRRC aims to strengthen its innovation capabilities and maintain its leadership in the rail transportation equipment sector [12]

证券之星消息，1月15日煤炭开采板块较上一交易日下跌0.46%，大有能源领跌。当日上证指数报收于 4112.6，下跌0.33%。深证成指报收于14306.73，上涨0.41%。煤炭开采板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603071 | 物产环能 | 13.93 | 2.13% | 4.25万 | 5928.26万 | | 600397 | 江钨装备 | 9.40 | 1.73% | 38.69万 | 3.64亿 | | 002128 | 电投能源 | 30.55 | 1.13% | 25.98万 | 7.99亿 | | 000571 | 新大洲A | 5.89 | 0.68% | 21.43万 | 1.25亿 | | 600997 | 开滦股份 | 5.92 | 0.68% | 9.25万 | 5448.91万 | | 601101 | 美华能源 | 7.43 | 0.54% | 6.45万 | 4778.88万 | | 601001 | 晋控煤业 | 14. ...

Summary of the Conference Call for China Coal Energy Industry Overview - **Coal Market Trends**: In December 2024, the thermal coal market experienced price declines due to weak demand and high port inventories. The price is expected to fluctuate between 680-730 RMB/ton in January 2025, with a long-term contract price of 684 RMB/ton [2][5]. - **Coking Coal Market**: The coking coal market showed a rebound influenced by macro policies and futures markets, with prices for low-sulfur and high-sulfur coking coal at 1,567 RMB/ton and 1,219 RMB/ton respectively [2][5]. - **Urea Market**: The urea market remained stable in December 2024, but is expected to fluctuate between 1,650-1,750 RMB/ton in January 2025 due to increased supply and decreased demand [2][6]. - **Polyolefins Market**: The polyolefins market continued to decline, with expected prices for ethylene and propylene at 6,100-6,400 RMB/ton and 5,900-6,200 RMB/ton respectively [2][6]. - **Methanol Market**: The methanol market is expected to remain weak, with prices projected between 1,700-1,800 RMB/ton [2][7]. Company Performance - **Production and Sales Data**: In 2025, China Coal Energy's coal production was 135 million tons, a decrease of 2.47 million tons year-on-year. Sales were 256 million tons, down by 20.03 million tons. Urea production increased by 26.3 million tons to 2.134 million tons, while methanol production rose by 22.5 million tons to 1.955 million tons [4][3]. - **Cost Management**: The company expects costs in Q4 2025 to remain stable compared to Q3, with overall management, R&D, financial, and sales expenses showing a downward trend [3][19]. - **Dividend Policy**: The company plans to maintain a minimum dividend payout ratio of 30%, with hopes to sustain or increase this level compared to the previous year [3][16]. Future Outlook - **Coal Production Forecast**: Coal production is expected to remain stable at high levels, with a projected output of 4.7-4.8 billion tons in 2026. This stability is attributed to reduced demand and the gradual replacement of thermal power by renewable energy [10][21]. - **Long-term Contract Compliance**: The company will adhere to long-term coal contracts with a signing ratio of 75% and an execution rate of at least 90% [12][21]. - **Market Dynamics**: The demand for thermal coal is expected to stabilize, while coking coal prices are anticipated to remain stable due to steady demand from the manufacturing sector and construction industry [21][22]. Additional Insights - **Impact of Policies**: The government’s removal of unapproved capacity is expected to tighten supply, providing some price support in the coal market [10][11]. - **Production Strategy**: The company emphasizes quality over quantity in production, with a focus on maintaining operational efficiency and safety [15][22]. - **Asset Impairment**: No significant asset impairments are expected in 2025, as previous provisions have stabilized the company's asset situation [20]. This summary encapsulates the key points discussed in the conference call, providing insights into the coal industry and the company's performance and outlook.

Core Viewpoint - Recently, Zhongmei Green Energy Technology (Xuancheng) Co., Ltd. was established, indicating a strategic move by China Coal Energy Group to expand its footprint in the renewable energy sector [1] Company Summary - The newly established company has a registered capital of 69.6 million yuan, which reflects a significant investment in the renewable energy space [1] - The legal representative of the company is Weng Ke, suggesting a structured leadership for the new entity [1] - The company’s business scope includes wind power generation technology services, solar power generation technology services, energy storage technology services, power generation technology services, and research and development of emerging energy technologies, highlighting its focus on diverse renewable energy solutions [1] Industry Summary - The establishment of Zhongmei Green Energy Technology aligns with the growing trend of investment in renewable energy technologies, which is crucial for meeting global energy demands and sustainability goals [1] - The involvement of China Coal Energy Group, a major player in the energy sector, indicates a potential shift towards more sustainable energy practices within traditional energy companies [1]

Investment Rating - The report maintains a positive outlook on the coal industry, indicating an "Overweight" rating, suggesting that the industry is expected to outperform the overall market [30]. Core Insights - The report highlights that coal prices are expected to remain elevated due to persistent cold weather and improving demand, with power coal prices showing a week-on-week increase [1][6]. - The report notes that the supply side is tightening due to safety inspections and environmental checks in major production areas, which is expected to support coal prices [1][5]. - The report recommends stable, high-dividend companies such as China Shenhua, Shaanxi Coal, and China Coal Energy, while also suggesting attention to growth-oriented coal companies [1]. Summary by Sections Recent Industry Policies and Dynamics - A national safety production meeting was held to enhance safety measures in coal mining, emphasizing a systematic approach to safety governance [5]. - A new coal transportation route from Longkou to Guangzhou has been established, which is significant for energy security and regional economic development [5]. Price Trends - As of January 9, 2026, power coal prices at Qinhuangdao port were reported at 526, 613, and 699 CNY/ton for different grades, reflecting week-on-week increases [1]. - The report indicates that the average daily consumption of coal has improved, with a noted increase in coal output from production areas [1][2]. International Oil Prices - Brent crude oil prices increased to 63.34 USD/barrel, reflecting a week-on-week rise of 4.26%, which may influence coal prices [11]. Port Inventory Trends - The average daily coal inflow at the Bohai Rim ports increased to 1.4613 million tons, while the outflow also saw a slight increase, indicating a dynamic supply-demand balance [16]. - Port inventories decreased to 26.727 million tons, a reduction of 2.91% week-on-week, suggesting tightening supply conditions [16]. Shipping Costs - Domestic coastal shipping costs decreased to 31.90 CNY/ton, while international shipping rates showed mixed trends, with some routes experiencing price increases [22]. Company Valuation Table - The report includes a valuation table for key companies, indicating their stock prices, market capitalizations, and projected earnings ratios for the upcoming years [25].

Core Viewpoint - China Coal Energy (601898) reported a decrease in both coal production and sales for the year ending December 2025, indicating a downward trend in the company's operational performance [1] Group 1: Production and Sales Data - In December 2025, the company's coal production was 10.91 million tons, a year-on-year decrease of 8% [1] - The coal sales volume for the same period was 21.88 million tons, reflecting a year-on-year decrease of 23% [1] - For the full year 2025, the total coal production was approximately 135 million tons, down 1.8% compared to the previous year [1] - The total coal sales for the year were around 256 million tons, which represents a year-on-year decrease of 10.2% [1]

Core Viewpoint - China Coal Energy (01898.HK) reported a decrease in both coal production and sales for December 2025, indicating potential challenges in the coal market [1] Group 1: Production and Sales Data - The company's coal production for December 2025 was 10.91 million tons, representing an 8.0% year-on-year decrease [1] - Total coal sales amounted to 21.88 million tons, reflecting a significant year-on-year decline of 23.0% [1] - Self-produced coal sales reached 10.96 million tons, which is a 16.8% decrease compared to the previous year [1]