证券代码:601918 证券简称:新集能源 编号:2025-005 中煤新集能源股份有限公司 十届二十次董事会决议公告 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。 中煤新集能源股份有限公司（以下简称"公司"）十届二十次董 事会于 2025 年 1 月 7 日书面通知全体董事，会议于 2025 年 1 月 17 日在淮南市以现场和视频相结合方式召开。会议应到董事 7 名，实 到 7 名。会议由董事长王志根先生主持。会议召开和表决程序符合 《公司法》等有关法律、行政法规、部门规章、规范性文件和《公 司章程》的规定。与会董事对本次会议议案认真审议并以书面表决 方式通过如下决议： 一、审议通过关于提名公司第十届董事会董事候选人的议案。 根据《公司法》《公司章程》规定，经公司控股股东中国中煤能 源集团有限公司提名，同意提名孙凯先生为公司第十届董事会董事 候选人，任期与公司第十届董事会任期一致。 1 总工程师，中天合创能源有限责任公司煤炭分公司党委委员、副总 经理、总工程师，中天合创能源有限责任公司董事、党委副书记、 总经理，中煤西北 ...

证券代码:601918 证券简称:新集能源 编号:2025-006 中煤新集能源股份有限公司 十届十二次监事会决议公告 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法律责任。 本议案直接提交股东大会审议。 1 特此公告。 中煤新集能源股份有限公司监事会 2025 年 1 月 18 日 2 中煤新集能源股份有限公司（以下简称"公司"）十届十二次监 事会于 2025 年 1 月 7 日书面通知全体监事，会议于 2025 年 1 月 17 日在淮南市采取现场与视频相结合方式召开。会议应到监事 5 名， 实到 5 名。会议由监事会主席王峰先生主持。会议召开和表决程序 符合《公司法》等有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定。与会监事对本次会议议案认真审议并以书面 表决方式通过如下决议： 一、审议通过关于购买董事、监事及高级管理人员责任险的议 案。 监事会认为：为全体董事、监事、高级管理人员及关键岗位人 员购买责任保险，有利于完善公司治理体系，降低运营风险，保障 公司及董事、监事和高级管理人员合法权益，促进责任人员履职尽 ...

重要内容提示： 股东大会召开日期：2025年2月20日 本次股东大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 一、 召开会议的基本情况 证券代码：601918 证券简称：新集能源 公告编号：2025-008 中煤新集能源股份有限公司 关于召开 2025 年第一次临时股东大会的 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。 召开的日期时间：2025 年 2 月 20 日 14 点 30 分 召开地点：安徽省淮南市山南民惠街公司办公园区 1 号楼 2 层 会议室 (五) 网络投票的系统、起止日期和投票时间。 1 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 2025 年 2 月 20 日 至 2025 年 2 月 20 日 (一) 股东大会类型和届次 2025 年第一次临时股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大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 本次股东大会审议议案及投票股东类型 采用上海证券 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has achieved counter-cyclical growth in annual performance, with accelerated coal-electricity integration [3] - For 2024, the company expects revenue of 12.791 billion yuan, a slight decrease of 0.42% year-on-year, while net profit attributable to shareholders is projected to be 2.371 billion yuan, an increase of 12.39% year-on-year [3] - The company anticipates that coal prices will stabilize at current low levels in 2025, supported by macroeconomic policies [3] Financial Performance Summary - In 2024, the company expects to achieve a revenue of 12.791 billion yuan, with a year-on-year change of -0.42% [5] - The projected net profit attributable to shareholders for 2024 is 2.371 billion yuan, reflecting a year-on-year increase of 12.39% [5] - The average selling price of coal for 2024 is expected to be 567 yuan/ton, up 2.91% year-on-year [3] - The company’s coal production for 2024 is projected at 21.52 million tons, a year-on-year increase of 0.57% [3] Business Segment Insights - The coal business is expected to see a significant increase in production and sales in Q4 2024, with raw coal production reaching 5.95 million tons, a quarter-on-quarter increase of 14.37% [3] - The electricity generation segment is projected to achieve a total generation of 12.972 billion kWh in 2024, a year-on-year increase of 23.79% [3] - The company’s average on-grid electricity price for 2024 is expected to be 0.4065 yuan/kWh, a slight decrease of 0.81% year-on-year [3] Future Outlook - The company is actively advancing coal-electricity integration, with several new power plants under construction expected to enhance profitability stability by 2026 [4] - The company aims to increase its dividend payout in the future, benefiting from state-owned enterprise policies and stable profit levels [4] - The company plans to achieve 1,000 MW of new energy installed capacity by the end of 2025 through various renewable energy projects [4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has achieved counter-cyclical growth in its annual performance, with accelerated coal-electricity integration [3] - The company is expected to stabilize coal prices at current low levels, supported by macro policies, and the new phase of the Lixin power plant will contribute to profit growth in 2025 [3] - The company is actively developing green electricity projects and aims to achieve 1000MW of new energy installed capacity by the end of 2025 [4] Financial Performance Summary - For 2024, the company expects to achieve revenue of 12.791 billion yuan, a slight decrease of 0.42% year-on-year, and a net profit attributable to shareholders of 2.371 billion yuan, an increase of 12.39% year-on-year [3] - In Q4 2024, the company anticipates revenue of 3.602 billion yuan, a quarter-on-quarter increase of 12.43%, and a net profit of 546 million yuan, a quarter-on-quarter decrease of 15.74% [3] - The average selling price of coal for 2024 is expected to be 567 yuan/ton, an increase of 2.91% year-on-year, with a Q4 average selling price of 582 yuan/ton, up 4.35% quarter-on-quarter [3] Production and Sales Data - The company's raw coal production for 2024 is projected to be 21.52 million tons, a year-on-year increase of 0.57%, while the sales volume of commercial coal is expected to be 18.87 million tons, a decrease of 4.14% year-on-year [3] - In Q4 2024, raw coal production is expected to reach 5.95 million tons, a quarter-on-quarter increase of 14.37%, with commercial coal sales of 5.09 million tons, up 8.62% quarter-on-quarter [3] Future Outlook - The company plans to enhance its dividend policy as it benefits from state-owned enterprise value management policies, with expectations for increased dividends as capital expenditure phases out [4] - The company is on track to achieve complete coal-electricity integration by 2026, which is expected to further enhance profit stability [4]

Investment Rating - The report maintains a "Recommended" rating for the company [4]. Core Views - The company achieved a revenue of 12.791 billion yuan in 2024, a slight decrease of 0.42% year-on-year, while the net profit attributable to shareholders increased by 12.39% to 2.371 billion yuan [1]. - The fourth quarter of 2024 saw a significant year-on-year increase in net profit, which reached 546 million yuan, representing a growth of 189.51% [1]. - The company is expected to experience rapid growth in performance due to the ongoing commissioning of power plant projects, with projected net profits of 2.371 billion yuan, 2.514 billion yuan, and 2.893 billion yuan for 2024, 2025, and 2026 respectively [4]. Summary by Sections Financial Performance - In Q4 2024, the company reported a revenue of 3.602 billion yuan, a year-on-year increase of 14.24% and a quarter-on-quarter increase of 12.43% [1]. - The coal production in Q4 2024 reached 5.9451 million tons, up 23.92% year-on-year and 14.37% quarter-on-quarter [2]. - The unit gross profit for coal was 245.66 yuan per ton, reflecting a year-on-year increase of 49.77% [2]. Operational Highlights - The company’s new power plant project commenced commercial operations in Q4 2024, contributing to a power generation of 4.368 billion kWh, which is a 42.28% increase year-on-year [3]. - The proportion of self-supplied coal increased by 6.86 percentage points to 30.60% due to the commissioning of the new power plant [3]. - The company has secured approximately 85% of its coal supply through long-term contracts, ensuring price stability [3]. Future Outlook - The company is projected to achieve earnings per share (EPS) of 0.92 yuan, 0.97 yuan, and 1.12 yuan for the years 2024, 2025, and 2026 respectively [4]. - The price-to-earnings (PE) ratio is expected to decrease from 8 times in 2025 to 6 times in 2026, indicating potential valuation improvement [4].

Investment Rating - The investment rating for the company is "Buy (Maintain)" [3] Core Views - The company is expected to achieve a revenue of 12.791 billion yuan in 2024, a slight decrease of 0.42% year-on-year, while the net profit attributable to the parent company is projected to be 2.371 billion yuan, an increase of 12.39% year-on-year [7] - The coal business is expected to see both volume and price increases, with a significant improvement in cost control [7] - The power generation segment is benefiting from the commercial operation of the second phase of the Banji Power Plant, leading to substantial increases in electricity sales [7] - The company's long-term development plan aims to establish a "coal-coal power-new energy" industrial structure by 2025, with significant growth potential in the power business [7] Summary by Sections Market Performance - The company's stock has shown a relative performance decline compared to the CSI 300 index, with absolute declines of -15.73%, -18.67%, and -22.86% over the last 1, 2, and 3 months respectively [5] Financial Performance - In 2024, the company expects to achieve a total revenue of 12.791 billion yuan, with a net profit of 2.371 billion yuan, reflecting a year-on-year growth of 12.39% [7] - The company’s coal production is projected to be 21.522 million tons in 2024, with a slight increase of 0.57% year-on-year [7] - The average selling price of coal is expected to be 567.4 yuan per ton, an increase of 2.91% year-on-year [7] Earnings Forecast - The forecasted revenues for 2024, 2025, and 2026 are 12.791 billion yuan, 13.580 billion yuan, and 15.185 billion yuan respectively, with net profits of 2.371 billion yuan, 2.657 billion yuan, and 2.873 billion yuan [8][11] - The company anticipates a compound annual growth rate (CAGR) in net profit of approximately 12.4% from 2024 to 2026 [11] Operational Highlights - The company’s coal sales volume is expected to be 18.872 million tons in 2024, a decrease of 4.14% year-on-year [7] - The power generation volume is projected to reach 12.972 billion kWh in 2024, an increase of 23.79% year-on-year [7] - The company plans to enhance the synergy between coal and power generation, with a target of achieving 100% self-sufficiency in coal supply for its new power projects by 2027 [7]

[Table_Page] 公告点评|煤炭开采 证券研究报告 [Table_Title] 新集能源（601918.SH） Q4 业绩预告好于预期，大股东增持彰显中长期发展信心 [Table_Summary] 核心观点： | 前次评级 | 买入 | | --- | --- | | 报告日期 | 2025-01-09 | | [Table_PicQuote] 相对市场表现 | | | 80% | | -12% 6% 25% 43% 62% 80% 01/24 03/24 05/24 07/24 09/24 11/24 01/25 新集能源 沪深300 | [分析师： Table_Author] 沈涛 | | | --- | --- | | | SAC 执证号：S0260523030001 | | | SFC CE No. AUS961 | | | 010-59136686 | | | shentao@gf.com.cn | | 分析师： | 安鹏 | | | SAC 执证号：S0260512030008 | | | SFC CE No. BNW176 | | | 021-38003693 | | | anpeng@ ...

Financial Performance - Total operating revenue for 2024 is estimated at CNY 12.79 billion, a decrease of 0.42% from the previous year[2] - Operating profit increased by 9.56% to CNY 3.71 billion compared to CNY 3.39 billion in the previous year[2] - Net profit attributable to shareholders reached CNY 2.37 billion, reflecting a 12.39% increase year-on-year[2] - Basic earnings per share rose to CNY 0.915, up 12.41% from CNY 0.814 in the previous year[2] - The weighted average return on equity decreased to 16.32%, down 3.09 percentage points from the previous year[2] - Net assets attributable to shareholders increased by 14.75% to CNY 15.51 billion[2] Production and Sales - The company produced 21.52 million tons of raw coal and sold 18.87 million tons of commercial coal in 2024[3] - The company generated 12.97 billion kWh of electricity, with 12.25 billion kWh sold to the grid[3] Assets and Liabilities - Total assets increased by 22.19% to CNY 44.35 billion from CNY 36.29 billion at the beginning of the year[2] Cautionary Note - The company warns that the preliminary financial data may differ from the final annual report figures, urging investors to be cautious[4]

证券代码:601918 证券简称:新集能源 编号:2025-001 中煤新集能源股份有限公司 关于控股股东增持公司股份计划的公告 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。 重要内容提示： 中煤新集能源股份有限公司（以下简称"公司"）于 2025 年 1 月 3 日收到控股股东中国中煤能源集团有限公司（以下简称"中国 中煤"）通知，中国中煤拟自本公告披露之日起 12 个月内通过上海 证券交易所交易系统采用集中竞价方式增持公司 A 股股份，增持总 金额不低于人民币 2.5 亿元，不高于人民币 5 亿元，且增持数量不 超过公司总股本的 2%（以下简称"本次增持计划"）。 本次权益变动属于增持，不触及要约收购，不会导致公司控股 股东及实际控制人发生变化。 （四）本次拟增持股份的价格：本次增持不设定价格区间，中 国中煤将基于对公司股票价值的合理判断，根据公司股票价格波动 情况及资本市场整体趋势，择机逐步实施。 本次增持计划可能存在因资本市场情况发生变化或目前尚无 法预判的其他风险因素导致增持计划的实施无法达到预期的风险。 一、增持 ...