新疆鑫泰天然气股份有限公司（以下简称"公司"）第四届监事会第二十 一次会议的通知，于 2024 年 11 月 9 日以电子邮件的方式发出。第四届监事会 第二十一次会议于 2024 年 11 月 14 日在公司会议室召开，会议应出席监事 3 人，实到 3 人。会议由监事会主席黄敏先生主持，符合《公司法》《公司章 程》及《监事会议事规则》的有关规定。会议经审议表决，以现场表决方式一 致通过以下决议： 证券代码：603393 证券简称：新天然气 公告编号：2024-049 新疆鑫泰天然气股份有限公司 第四届监事会第二十一次会议决议公告 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。 经与会监事表决，审议通过该议案，并同意将该议案提交股东大会审议。 表决结果：同意票 3 票、反对票 0 票、弃权票 0 票。 三、审议《关于为控股子公司提供担保的议案》 鉴于控股子公司新疆明新拟向银行或金融机构申请融资，用于支付新疆巴 里坤哈萨克自治县三塘湖矿区七号勘查区普查探矿权出让金及补充流动资金， 同意公司为新疆明新上述融资提供不超过人民币 20 ...

证券代码：603393 证券简称：新天然气 公告编号：2024-048 新疆鑫泰天然气股份有限公司 会议审议并通过了如下决议： 一、审议《关于参与竞拍探矿权的议案》 2024 年 9 月 30 日，新疆维吾尔自治区政务服务和公共资源交易中心发布 《2024 年新疆巴里坤哈萨克自治县淖毛湖矿区马朗二号井田普查等 2 个探矿权 挂牌出让公告》（2024-KYQCR27）。其中，拟出让的新疆巴里坤哈萨克自治县 三塘湖矿区七号勘查区普查,探矿权区块面积 109.28 平方公里，煤炭资源量 1000 米以浅估算资源量 20.93 亿吨。为进一步夯实公司自有优势能源产业的资 源储备，董事会同意通过控股子公司新疆明新油气勘探开发有限公司参与竞 拍，同时授权管理层参与本次竞拍，在董事会授权范围内缴纳保证金、确定竞 拍价格区间，并按相关程序办理竞拍相关手续、签署相关协议、文件及办理本 次竞拍的其他具体事宜。 鉴于竞拍价格尚无法确定，董事会同意：如本次竞拍成交金额在董事会决 策权限内，则以本次董事会决策结果为准；如本次竞拍成交金额超出了董事会 决策权限，则上述事项无需再次提交董事会审议，公司根据本次董事会会议的 审议及授权，及时 ...

证券代码：603393 证券简称：新天然气 公告编号：2024-051 新疆鑫泰天然气股份有限公司 关于对控股子公司提供担保的公告 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： 一、 担保情况概述 （一） 担保基本情况 鉴于控股子公司新疆明新拟向银行申请融资，用于支付新疆巴里坤哈 萨克自治县三塘湖矿区七号勘查区普查探矿权出让金及补充流动资金，公 司拟为新疆明新上述融资提供不超过人民币 20 亿元的担保，担保方式包括 连带责任保证担保、抵押担保、质押担保等法律法规允许的担保方式。具 体如下： | | | | 被担 | | | 新增担 | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 担保 | 保方 | 截至目 | 本次新 | 保额度 | | 否 | | | | | | | 前担保 | 增担保 | | | | 是否 | | 担保 | | 方持 | 最近 | | | 占上市 | 担保预计 | 关 | 有反 | ...

证券代码：603393 证券简称：新天然气 公告编号：2024-052 新疆鑫泰天然气股份有限公司 关于参与竞拍探矿权及其结果的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、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、交易概述 2024 年 9 月 30 日，受新疆维吾尔自治区自然资源厅委托，新疆维吾尔自 治区政务服务和公共资源交易中心发布《2024 年新疆巴里坤哈萨克自治县淖毛 湖矿区马朗二号井田普查等 2 个探矿权挂牌出让公告》（2024-KYQCR27）。经 公司第四届董事会第二十二次会议审议批准，新疆明新参与了新疆巴里坤哈萨 克自治县三塘湖矿区七号勘查区普查煤炭资源探矿权的挂牌出让竞拍，并以约 人民币 35.23 亿元竞得，本次交易尚需提交公司股东大会审议通过后方可落地 实施。 二、探矿权基本信息 1.区块名称：新疆巴里坤哈萨克自治县三塘湖矿区七号勘查区普查； 新疆鑫泰天然气股份有限公司（以下简称"公司"）的控股子公司新疆明 新油气勘探开发有限公司（以下简称"新疆明新"）参与了新疆巴里坤哈 萨克自治县三塘湖矿区七号勘查区普查煤炭资源探矿权 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [4][7]. Core Views - The company accelerates its upstream gas source layout, establishing an integrated natural gas industry chain. By investing in leading coalbed methane developer Yamei Energy and continuously expanding upstream projects, the company has become a rare private enterprise in China with its own gas sources, achieving a nearly integrated structure of "resources above, pipelines in the middle, and customers below." In 2023, the proportion of coalbed methane extraction and sales significantly increased to around 68% [3][4]. - The growth potential of unconventional gas is substantial, with long-term demand for natural gas remaining strong. Natural gas is the only clean low-carbon energy among the three major primary energy sources globally and is crucial during the energy transition. However, its consumption in China was only 9% in 2023, significantly lower than the global average of about 23%, indicating considerable growth potential under the "dual carbon" strategy [3][31]. - Resource advantages continue to strengthen, with multiple blocks accelerating growth. The acquisition of Yamei Energy has provided the company with coalbed methane development resources, including the Pan Zhuang and Ma Bi projects. In the first half of 2024, the Ma Bi block's production increased by approximately 59.90%, with an average selling price rising by about 12.04% [3][4]. Summary by Sections 1. Accelerating Upstream Gas Source Layout - The company is one of the few private gas enterprises in China with its own gas sources, primarily engaged in coalbed methane exploration and development, as well as urban natural gas distribution and sales [14]. - The company has maintained a high growth rate in performance, with a CAGR of approximately 11.25% from 2019 to 2023, despite a decline in 2020 due to the pandemic [20][28]. 2. Growth Potential of Unconventional Gas - Natural gas is a key transitional energy source in the "dual carbon" strategy, with significant room for growth in domestic consumption [31]. - The domestic coalbed methane geological resource is approximately 36.8 trillion cubic meters, with Shanxi Province being a major contributor [42]. 3. Resource Advantages and Growth Acceleration - The company has fully controlled Yamei Energy, enhancing its coalbed methane extraction and sales capabilities, and has established a comprehensive energy supply and service provider [65]. - The Pan Zhuang block has shown a consistent increase in production, with a CAGR of approximately 15.62% from 2017 to 2022, supported by breakthroughs in thin coal seam development technology [70].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price reflecting a potential upside of over 20% within the next six months [5][13]. Core Insights - The company achieved a revenue of 2.96 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 16.7%, and a net profit of 880 million yuan, up 30.3% year-on-year [1]. - The coalbed methane business experienced both volume and price increases, with total production reaching 1.482 billion cubic meters, a growth of 20.48% year-on-year, accounting for 14.44% of Shanxi province's total production [2]. - The average selling price of coalbed methane increased to 2.16 yuan per cubic meter, a rise of 4.81% compared to the previous year [2]. - The city gas segment's profitability declined by over 30% year-on-year due to the delayed effects of price adjustments and rising procurement costs [3]. - The company has sufficient reserve projects, with stable production growth expected from the Akmomu gas field and other projects in the pipeline [4]. Financial Performance Summary - For the first three quarters of 2024, the company reported a revenue of 2.96 billion yuan and a net profit of 880 million yuan, with the third quarter alone contributing 1.01 billion yuan in revenue and 280 million yuan in net profit, marking increases of 42.7% and 43.8% year-on-year, respectively [1]. - The company forecasts net profits of 1.3 billion yuan, 1.53 billion yuan, and 1.76 billion yuan for 2024, 2025, and 2026, respectively, with corresponding P/E ratios of 10.5x, 8.9x, and 7.7x [4]. - The financial data indicates a projected revenue growth rate of 21.06% for 2024, followed by 9.22% and 7.35% in the subsequent years [9]. Production and Pricing Insights - The total production of coalbed methane in the third quarter was 511 million cubic meters, reflecting a year-on-year increase of 29.47% and a quarter-on-quarter increase of 3.06% [2]. - The average selling price for the third quarter was 2.15 yuan per cubic meter, showing a year-on-year increase of 10.27% and a quarter-on-quarter increase of 2.86% [2]. Project Development and Future Outlook - The company is advancing the development of the Akmomu gas field, aiming for an annual production of 800 million cubic meters, with additional projects expected to contribute to future production and revenue growth [4]. - The report highlights that the city gas segment's profitability will gradually improve as the impact of inventory gas diminishes [3].

Investment Rating - The report maintains a "Buy" rating for the company [8][6]. Core Views - The company reported a revenue of 2.964 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 16.70%. The net profit attributable to shareholders reached 882 million yuan, up 30.28% year-on-year. In Q3 2024 alone, revenue was 1.013 billion yuan, a 42.67% increase year-on-year, with net profit of 277 million yuan, up 43.76% year-on-year [4][6]. - The sales volume and price of coalbed methane showed improvements both year-on-year and quarter-on-quarter, indicating steady development in the main business. The total production of coalbed methane for the first three quarters of 2024 was 1.482 billion cubic meters, a year-on-year increase of 20.48% [4][6]. - The company is implementing a "strong chain, extended chain, and supplementary chain" strategy to build and solidify a "full industry chain" in natural gas [6][4]. Financial Performance Summary - In Q3 2024, the company's gross profit margin was 41.41%, which is a decrease of 4.39 percentage points year-on-year and 11.24 percentage points quarter-on-quarter, primarily due to the impact of urban gas and installation businesses [5][6]. - The average selling price of coalbed methane was 2.16 yuan per cubic meter for the first three quarters of 2024, an increase of 4.81% year-on-year, despite a 4.90% decline in the average domestic LNG price [4][6]. - The company expects EPS for 2024-2026 to be 3.12 yuan, 3.99 yuan, and 4.88 yuan, respectively, with corresponding PE ratios of 10.42X, 8.13X, and 6.65X based on the closing price on October 31, 2024 [6][10].

证券代码：603393 证券简称：新天然气 新疆鑫泰天然气股份有限公司投资者关系活动记录表 | --- | --- | |-------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Recommended" rating for the company [1][3]. Core Views - The company achieved a revenue of 2.964 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 16.70%, and a net profit attributable to shareholders of 882 million yuan, up 30.28% year-on-year [1]. - In Q3 2024, the company reported a revenue of 1.013 billion yuan, a year-on-year increase of 42.67% and a quarter-on-quarter increase of 23.47%, with a net profit of 277 million yuan, reflecting a year-on-year growth of 43.76% [1]. - The company’s production in the Mabi block continues to grow, with daily production expected to reach 3 million cubic meters by the end of 2024, contributing significantly to revenue growth [1]. - The company has rich resource reserves and has acquired three new exploration rights, which are expected to contribute to future growth [1]. Summary by Sections Financial Performance - For Q3 2024, the company achieved a gross profit of 419 million yuan, with a gross margin of 41.41%, a decrease of 11.24 percentage points quarter-on-quarter [1]. - The company’s other income and investment income increased significantly, with growth rates of 119.39% and 113.49% respectively [1]. - The forecast for 2024-2026 indicates net profits of 1.314 billion yuan, 1.586 billion yuan, and 1.923 billion yuan respectively, with corresponding EPS of 3.10 yuan, 3.74 yuan, and 4.54 yuan per share [2][4]. Production and Resource Development - The Mabi block's daily production has surpassed 2.5 million cubic meters and is expected to reach nearly 3 million cubic meters by the end of the year, with a projected annual production of 1.1 billion cubic meters in 2025, a 22% increase from the current year's planned production [1]. - The company has acquired new exploration rights in the Zijin Mountain area, Guizhou Danzhai blocks, and the Kashgar North project, which are expected to enhance resource reserves significantly [1]. Investment Outlook - The company is expected to benefit from the seasonal increase in natural gas prices in Q4 2024, which may positively impact performance [1]. - The report suggests a strong growth potential due to the company's increasing production capacity and resource acquisitions, maintaining a favorable outlook for the coming years [1].

Investment Rating - The investment rating for the company is "Buy," maintaining the previous rating of "Buy" [1]. Core Views - The company has shown steady revenue growth, with a 16.70% year-on-year increase in total revenue for the first three quarters of 2024, reaching 2.964 billion yuan. However, net profit decreased by 12.97% year-on-year to 907 million yuan, while net profit attributable to shareholders increased by 30.28% year-on-year to 882 million yuan [1][3]. - The company is expected to maintain stable production from its high-quality coalbed methane resources in the Pan Zhuang block from 2024 to 2028, with an anticipated annual output of around 1 billion cubic meters. The Ma Bi block is also expected to see significant production increases, with a total capacity projected to exceed 2.5 billion cubic meters per year [1][3]. - Recent acquisitions in the Xinjiang Kashgar North block are expected to provide substantial oil and gas reserves, ensuring long-term production capacity and supporting the company's growth [1][3]. Financial Summary - For Q3 2024, the company achieved a revenue of 1.013 billion yuan, a year-on-year increase of 42.67% and a quarter-on-quarter increase of 23.47%. Net profit for the same period was 291 million yuan, up 46.16% year-on-year and 4.81% quarter-on-quarter [1]. - The company forecasts net profits attributable to shareholders for 2024, 2025, and 2026 to be 1.28 billion yuan, 1.52 billion yuan, and 1.71 billion yuan, respectively, with corresponding EPS of 3.03, 3.59, and 4.04 yuan [3][4]. - The projected P/E ratios for 2024, 2025, and 2026 are 10.33X, 8.71X, and 7.74X, respectively, indicating a favorable valuation compared to historical performance [4].