中国中煤能源股份有限公司 章程 （2025 年修订） 目 录 第一章 总 则 第一条 为维护中国中煤能源股份有限公司（以下简称公 司）、股东、职工和债权人的合法权益，规范公司的组织和行 为，根据《中华人民共和国公司法》（以下简称《公司法》）、 《中华人民共和国证券法》（以下简称《证券法》）、《上市 公司章程指引（2025 年修订）》和其他有关规定，制定本章 程。 第二条 公司系依照《公司法》《证券法》和中国其他有 关法律、行政法规成立的股份有限公司。 公司经国务院国有资产监督管理委员会国资改革〔2006〕 理局注册登记，取得营业执照，统一社会信用代码为： 公司的发起人为：中国中煤能源集团有限公司 第三条 公司于 2006 年 11 月 7 日经中国证券监督管理委 员会（以下简称中国证监会）核准，首次公开发行境外上市外 资股（H 股）3,733,330,000 股并在香港联合交易所有限公司（以 下简称香港联交所）上市；公司于 2008 年 1 月 19 日经中国证 监会核准，首次向社会公众发行人民币普通股 1,525,333,400 股，于 2008 年 2 月 1 日在上海证券交易所上市。 第四条 公司中文注 ...

中国中煤能源股份有限公司 章程 （2025 年修订） | | | | | | 第一章 总 则 第一条 为维护中国中煤能源股份有限公司（以下简称公 司）、股东、职工和债权人的合法权益，规范公司的组织和行 为，根据《中华人民共和国公司法》（以下简称《公司法》）、 《中华人民共和国证券法》（以下简称《证券法》）、《上市 公司章程指引（2025 年修订）》和其他有关规定，制定本章 程。 第二条 公司系依照《公司法》《证券法》和中国其他有 关法律、行政法规成立的股份有限公司。 公司经国务院国有资产监督管理委员会国资改革〔2006〕 1048 号文批准，以独家发起方式设立；在北京市市场监督管 理局注册登记，取得营业执照，统一社会信用代码为： 91110000710934289T。 公司的发起人为：中国中煤能源集团有限公司 第三条 公司于 2006 年 11 月 7 日经中国证券监督管理委 员会（以下简称中国证监会）核准，首次公开发行境外上市外 资股（H 股）3,733,330,000 股并在香港联合交易所有限公司（以 下简称香港联交所）上市；公司于 2008 年 1 月 19 日经中国证 监会核准，首次向社会公众发行人民 ...

证券代码：601898 证券简称：中煤能源 公告编号：2025-021 中国中煤能源股份有限公司 2024年度股东周年大会及 2025 年第一次 A 股和 H 股类别股东会决议公告 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法律责任。 重要内容提示： 一、 会议召开和出席情况 中国中煤能源股份有限公司 2024 年度股东周年大会（简称"股东周年大会"）、 2025 年第一次 A 股类别股东会（简称"A 股类别股东会"）及 2025 年第一次 H 股类别股东会（简称"H 股类别股东会"）以现场投票与网络投票相结合方式召 开，公司 A 股股东通过中国证券登记结算有限责任公司的网络投票系统进行网 络投票，出席会议的股东和股东代理人具体情况如下： 本公告全文已于本公告日刊登于上海证券交易所网站、香港联合交易所有限 公司网站、本公司网站、中国证券报、上海证券报、证券时报和证券日报。 本次会议是否有否决议案：无 (一) 股东大会召开的时间：2025 年 6 月 27 日 (二) 股东大会召开的地点：北京市朝阳区黄寺大街 1 号中煤大厦 (三) ...

北京市嘉源律师事务所 关于中国中煤能源股份有限公司 2024 年度股东周年大会、2025年第一次 A 股类别 股东会及 2025 年第一次 H 股类别股东会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 师事务所 A YUAN LAW OFFICES 北京 BEIJING ·上海 SHANGHAI ·深圳 SHENZHEN · 香港 HONG KONG · 广州 GUANGZHOU · 西安 XI'AN 致:中国中煤能源股份有限公司 北京市嘉源律师事务所 关于中国中煤能源股份有限公司 2024 年度股东周年大会、2025年第一次 A 股类别股东会 及 2025 年第一次 H 股类别股东会的 法律意见书 嘉源(2025)-04-478 北京市嘉源律师事务所(以下简称"本所")接受中国中煤能源股份有限公 司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》")《上市公司股东会规则》(以下简称"《股东会规则》")等现行有 效的法律、行政法规、部门规章、规范性文件(以下简称"法律法规")以及《中 国中煤能源股份有限公司章程》(以下简称"《公司章程》")的有关规 ...

Summary of China Coal Energy Conference Call Company Overview - **Company**: China Coal Energy - **Date**: June 24, 2025 Key Points Industry Insights - **Demand Surge**: The demand for thermal coal has increased significantly, with daily consumption reaching approximately 5.5 million tons, a rise of about 15% compared to early June and late May, but still below the peak levels expected in August and September [2][3][6] - **Supply Constraints**: Safety inspections and environmental supervision in major production areas have led to a decrease in capacity utilization, supporting coal prices [2][3][6] - **Import Reduction**: Continuous reduction in imported coal and its declining cost-effectiveness have provided further support to domestic coal prices [2][3][6] - **Price Forecast**: Thermal coal prices are expected to rebound from the current 610 RMB/ton to around 650 RMB/ton in Q3, with extreme weather or reduced water levels potentially driving prices even higher [2][3][6] Company Strengths - **Long-term Asset Advantage**: China Coal Energy has a recoverable coal reserve of 13.8 billion tons with a recoverable lifespan of 81 years, surpassing competitors [2][5][8] - **Production Capacity**: The company has a production capacity close to 200 million tons, with 170 million tons under its control, indicating significant internal growth potential [2][5][8] - **Chemical Business Growth**: The company is enhancing profitability through its De Mei Chemical project, which is expected to generate approximately 20 billion RMB in revenue by 2024, with a gross margin of 15% [4][11] Financial Performance - **Dividend Potential**: Currently, the dividend payout ratio is around 30%-40%, with potential for increase as debt levels decrease and cash flow improves [4][12][13] - **Debt Levels**: The current interest-bearing debt ratio is approximately 17.9%, with expectations to reduce to around 10% in three years, which could enhance dividend capacity [13][15] Market Environment - **External Market Conditions**: The decline in 10-year treasury yields from 1.7%-1.8% to about 1.6% indicates an asset shortage, making the coal sector attractive for investment [7] - **Valuation Metrics**: The price-to-book (PB) ratio for the coal sector has fallen to the lower quartile of the past two years, with public fund holdings below 0.5%, suggesting low market congestion [7] Growth Prospects - **Future Projects**: Upcoming projects, including the Wei Zigou and Li Mi mines expected to commence production in 2026, will provide ongoing growth momentum [5][8] - **Cost Control**: The company has managed to keep its coal production costs at approximately 203 RMB/ton, lower than some competitors, indicating effective cost management [9][10] Investment Rationale - **Stable Earnings**: High long-term contract ratios (over 75%) contribute to stable earnings, with a strong performance even under fluctuating coal prices [10][14] - **Attractive Valuation**: With a current PE ratio of about 9.5, the company presents a compelling investment opportunity, especially if dividend payouts increase [15][16] Conclusion - **Overall Outlook**: China Coal Energy is positioned well within the coal industry, with strong fundamentals, growth potential, and an attractive valuation, making it a recommended investment target [5][14][15]

Group 1 - China Coal Energy Co., Ltd. was established in 2006 and is primarily engaged in coal mining and washing, with a registered capital of 1,325,866.34 million RMB [1] - The stock of China Coal Energy closed down 2.09% on June 19, 2023, reflecting a year-to-date return of -0.77%, ranking 2140 out of 3428 in its category [1][2] - Huatai-PineBridge Fund's Huatai-PineBridge CSI 300 ETF is among the top ten shareholders of China Coal Energy and has reduced its holdings in the first quarter of this year [1] Group 2 - The fund manager of Huatai-PineBridge CSI 300 ETF is Liu Jun, who has extensive experience in fund management since joining Huatai-PineBridge in 2004 [4][5] - Liu Jun has managed various funds, including the Huatai-PineBridge CSI 300 ETF since May 2012, and has a cumulative tenure of over 16 years [5] - Huatai-PineBridge Fund Management Co., Ltd. was established in November 2004, with its major shareholders being PineBridge Investment LLC and Huatai Securities Co., Ltd. [5]

证券代码：601898 证券简称：中煤能源 公告编号：2025-020 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 5 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。 | 指标项目 | 单位 | 2025 | 年 | 2024 | 年 | 变化比率（%） | | | --- | --- | --- | --- | --- | --- | --- | --- | ...

Company Announcements - Weir Shares will change its stock name to Haowei Group starting June 20, 2025, while the stock code "603501" remains unchanged [3] - Dafu Technology plans to transfer 27% of its subsidiary Peitian Intelligent Manufacturing's shares to Dayu Industrial Investment Group for approximately RMB 192.21 million, retaining a 63.49% stake post-transaction [4] - Aojing Medical announced the passing of its founder and actual controller, Cui Fuzhai, who held 4.62% of the company's shares directly and 0.26% indirectly; the company stated that his death will not impact operations [6] - Zhongji Oil and Gas confirmed normal operations and no undisclosed significant matters affecting stock fluctuations [7] Performance Metrics - China Eastern Airlines reported a 15.43% year-on-year increase in passenger turnover for May 2025, with a capacity increase of 9.27% and a seat occupancy rate of 85.39% [9] - China Coal Energy's coal sales in May 2025 were 21.79 million tons, a decrease of 4.9% year-on-year, while coal production increased by 1.9% to 11.90 million tons [10] - Shenzhen Airport recorded a passenger throughput of 5.54 million in May 2025, up 15.67% year-on-year, with a cumulative throughput of 27.41 million for the year [11] Major Contracts - Baina Qiancheng signed a proprietary licensing cooperation agreement with Mango Films, with a total contract value of RMB 372 million, representing 50.65% of the company's audited revenue for 2024 [15] - China Energy Construction won a bid for the Jiangyin Sulong Project with a contract value of approximately RMB 5.00508 billion, involving the construction of two 660MW coal-fired power units [16]

Investment Rating - The report maintains a "Positive" outlook on the coal industry, indicating an expectation for the sector to outperform the overall market [3]. Core Insights - The report highlights that coal prices are expected to benefit from rising international oil prices and a gradual reduction in inventory levels [3]. - The demand for thermal coal is anticipated to remain stable despite being in a traditional off-peak season, supported by supply constraints and reduced imports [3]. - Coking coal prices are expected to stabilize and rebound as the peak season approaches, driven by improved steel production and profitability [3]. Summary by Sections Recent Industry Policies and Dynamics - June marks the annual "Safety Production Month" in China, emphasizing safety and emergency preparedness [9]. - Coal transportation from Xinjiang has increased, with a total of 39.4 million tons shipped out, reflecting a year-on-year growth of 6.8% [9]. Price Trends for Thermal and Coking Coal - As of June 13, thermal coal prices remained stable, with various grades reporting little to no change [10][11]. - Coking coal prices have shown slight declines, but the report suggests a potential for stabilization as demand from steel mills increases [13]. International Oil Price Surge - Brent crude oil prices rose significantly, with a reported increase of $7.76 per barrel, marking an 11.67% rise [17]. - The relationship between international oil prices and coal prices has shown a downward trend, indicating a potential impact on coal pricing dynamics [17]. Port Inventory and Shipping Costs - Inventory levels at the Bohai Rim ports have decreased, with coal stock down to 28.688 million tons, a reduction of 63.10% week-on-week [22]. - Domestic shipping costs have declined, with average coastal shipping rates falling by 2.96% [29]. Valuation of Key Companies - The report provides a valuation table for key companies in the coal sector, highlighting their stock prices, market capitalization, and earnings projections [34]. - Companies such as China Shenhua, Shaanxi Coal, and Yanzhou Coal are recommended for their stable operations and high dividend yields [3].

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The current phase is seen as the beginning of a new upward cycle in the coal economy, with a resonance between fundamentals and policies, making it an opportune time to accumulate coal sector assets [10][11] - The coal supply side is experiencing a contraction, with a decrease in coal mine capacity utilization rates, while demand is expected to recover, leading to a potential rebound in coal prices [10][11] - The report emphasizes the importance of high-quality coal companies that exhibit strong profitability, cash flow, return on equity (ROE), and dividends, which are expected to remain attractive investments [10][11] Summary by Sections 1. Coal Prices - As of June 14, the market price for Qinhuangdao port thermal coal (Q5500) is 610 CNY/ton, a decrease of 1 CNY/ton week-on-week [2][29] - The price for coking coal at Jing Tang port is reported at 1250 CNY/ton, down 40 CNY/ton from the previous week [31] 2. Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 94%, down 1 percentage point week-on-week, while coking coal mines have a utilization rate of 83.71%, down 0.9 percentage points [10][46] - Daily coal consumption in inland provinces has decreased by 9.50 thousand tons/day (-3.03%) and in coastal provinces by 0.30 thousand tons/day (-0.17%) [10][47] 3. Coal Inventory and Transportation - As of June 12, coal inventory in inland provinces has decreased by 12.60 thousand tons, while coastal provinces saw an increase of 38.50 thousand tons [47] - The report notes that the daily coal consumption is in the early stages of a seasonal increase, indicating a potential recovery in demand [10] 4. Investment Recommendations - The report suggests focusing on stable and high-performing companies such as China Shenhua, Shaanxi Coal, and others, while also considering companies with high elasticity like Yanzhou Coal and Guohua Energy [11][12]