Group 1 - The U.S. Energy Information Administration (EIA) reported a 3% decrease in natural gas production due to severe cold weather from December to January, with expectations that production will largely recover by February [1] - Cold weather in January led to a reduction of 320,000 barrels per day in U.S. oil production [1] - Huatai Securities suggests that the "oil-for-tariff" agreement between the U.S. and India may further reduce India's imports of Russian oil, maintaining high discount levels for Russian oil, which, combined with the potential appreciation of the Renminbi, could enhance China's crude oil procurement cost advantages [1] Group 2 - As of February 11, 2026, the National Petroleum and Natural Gas Index (399439) increased by 0.89%, with notable gains in component stocks such as Man Oil (up 6.93%), Intercontinental Oil and Gas (up 4.17%), and CNOOC Engineering (up 3.99%) [1] - The Petroleum ETF Penghua (159697) rose by 0.74%, marking its fourth consecutive increase, with the latest price reported at 1.36 yuan [1] - The National Petroleum and Natural Gas Index reflects the price changes of publicly listed companies related to the oil and gas industry on the Shanghai and Shenzhen stock exchanges, with the top ten weighted stocks accounting for 66.76% of the index [1]

（文章来源：证券日报） 证券日报网讯 2月10日，九丰能源在互动平台回答投资者提问时表示，股价波动受多种因素影响。公司 在严格遵守相关法律法规的前提下，通过多样化的沟通渠道，积极加强与投资者及潜在投资者之间的沟 通，增进投资者对公司的全面认知与了解，不断巩固与投资者的良好关系。 ...

证券日报网讯 2月10日，九丰能源在互动平台回答投资者提问时表示，公司2025年第三季度业绩扰动因 素已消除，目前，公司经营情况正常。 （文章来源：证券日报） ...

【九丰能源】商业航天可回收路径稀缺耗材，份额＋价值量占比提升！燃气主业三年翻倍【东吴环保公用】 【可回收路径中推进剂特气价值量占比三倍以上提升】 火箭发射降本路线明确，高载重和可复用背景下，推进剂 特气需求与载重和发射次数高度相关。我们测算#单次发射推进剂特气价值超500万需求刚性，可复用情形下，#推 进剂特气成本占比从1.6%提升至5.3%。 【重点推荐九丰能源可回收受益+份额提升！ 】深度卡位海南商发特燃特气主供！＃液态甲烷匹配可回收工艺路 线！液氢氦气等一体化，从海南商发到绑定核心火箭公司供气服务，发射场地从海南文昌拓展到山东海阳、甘肃 酒泉等主流基地，份额提升中！主业按煤制气投产空间巨大。远期可回收商业航天单次发射价值量预计500万+， 长期发射次数提升到300+，单发利润率提升。 【重点推荐九丰能源可回收受益+份额提升！ 】深度卡位海南商发特燃特气主供！＃液态甲烷匹配可回收 【清洁能源主业三年翻倍 】LNG海气受益国际气价下行，LPG整合广州码头+惠州码头投产规模扩产，新疆40亿方 煤制气推进顺利28年投产。公司股权激励目标27年业绩20亿+新疆煤制气投产贡献利润14亿元。28年业绩34亿，# 主业 ...

Investment Rating - The report maintains a "Buy" rating for several companies in the power and gas sectors, indicating a positive outlook for their performance in the upcoming periods [40][41]. Core Insights - The carbon market in China is expanding, with a cumulative trading volume of 865 million tons and a total transaction value of 57.663 billion yuan in 2025, reflecting a year-on-year growth of approximately 24% [4][5]. - The report highlights the shift in national policy towards carbon emission control, emphasizing the importance of carbon reduction initiatives, which are expected to create investment opportunities in the environmental sector [7]. - Natural gas prices have seen a significant decline due to seasonal factors and increased supply, with the Henry Hub spot price dropping by 39.20% week-on-week to $4.37/mmBtu as of February 6 [12][29]. Summary by Sections 1. Power Sector - The carbon market's trading volume reached 865 million tons in 2025, with a transaction value of 57.663 billion yuan, despite a decrease in average transaction price to 62.36 yuan/ton, down 19.23% year-on-year [4][5]. - Key emission units in the carbon market include 3,378 entities, with the power sector comprising 2,087 units, indicating a strong awareness of carbon reduction among major emitters [4][5]. - Recommendations for investment include companies with diversified revenue sources such as Guodian Power, Inner Mongolia Huadian, and Huaneng International Power, which are expected to benefit from stable capacity income [7][8]. 2. Gas Sector - Natural gas prices have decreased significantly, with the U.S. Henry Hub spot price at $4.37/mmBtu, reflecting a 39.20% drop week-on-week, while European prices also fell due to improved supply conditions [12][29]. - The report suggests that the recovery in macroeconomic conditions may lead to a rebound in gas companies' performance, recommending firms like Kunlun Energy and New Hope Energy [31][32]. - LNG prices in Northeast Asia have also declined, with spot prices at $10.70/mmBtu, down 7.76% week-on-week, influenced by seasonal demand and inventory levels [24][29]. 3. Company and Industry Dynamics - The report notes significant developments in the energy sector, including the implementation of a capacity price mechanism for coal and gas power generation, which aims to enhance revenue stability for power plants [36][37]. - Key announcements from companies include performance forecasts indicating substantial profit growth, such as Datang Power's expected net profit increase of 51% to 73% year-on-year [38]. - The report emphasizes the importance of ongoing infrastructure improvements and energy transition initiatives as part of the national economic development plan [37].

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额[万元) 成交量( *) 买入营业部 | | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 026-02-09 | 九年能源 | 605090 | 41.7 208.5 | 费研究劈控有限 | 我開發到這種學常 | | ко | 2月9日，九丰能源大宗交易成交5万股，成交额208.5万元，占当日总成交额的0.29%，成交价41.7元， 较市场收盘价44.96元折价7.25%。 | 股票基金信息 | | --- | ...

Investment Rating - The report maintains a positive outlook on the carbon trading market and related sectors, indicating a favorable investment environment for companies involved in power generation and environmental protection [2][9]. Core Insights - The carbon market in China is expanding, with a cumulative trading volume of 865 million tons and a total transaction value of 57.663 billion yuan as of December 31, 2025. The trading volume for the year increased by approximately 24% year-on-year, although the average transaction price fell by 19.23% to 62.36 yuan per ton [2][6]. - The report highlights the government's commitment to carbon reduction, transitioning from energy control to carbon control, which is expected to create investment opportunities in the environmental sector [9]. - Natural gas prices have decreased due to a combination of supply-demand dynamics and seasonal factors, with significant price drops observed in various markets, including a 39.20% decrease in the Henry Hub spot price [2][12]. Summary by Sections 1. Power Sector - The carbon trading market is projected to continue expanding, with key emission units increasing awareness of carbon reduction. The number of units under management reached 3,378, with significant representation from the power, steel, cement, and aluminum industries [2][6]. - Recommendations for investment include companies with stable revenue sources such as Guodian Power, Inner Mongolia Huadian, and China Huaneng, which benefit from diversified income streams [9][11]. 2. Natural Gas Sector - Natural gas prices have seen a significant decline, with the Henry Hub spot price at $4.37/mmBtu, reflecting a 39.20% week-on-week drop. The report notes that the supply-demand balance is improving, contributing to this price decrease [2][12]. - Investment recommendations include companies like Kunlun Energy and New Hope Energy, which are expected to benefit from lower upstream resource costs and improved sales volumes [34][35]. 3. Market Performance Review - The report indicates that the power equipment and gas sectors outperformed the broader market during the review period from February 2 to February 6, 2026 [37]. 4. Company and Industry Dynamics - Recent regulatory updates include the National Development and Reform Commission's notification on improving the capacity pricing mechanism for coal and gas power generation, which aims to enhance revenue recovery for power plants [39][40]. - Key company announcements include performance forecasts from major players like Datang Power and Shanghai Electric, indicating significant year-on-year profit growth [41]. 5. Valuation Tables - The report provides valuation metrics for key companies in the utility sector, with several companies rated as "Buy," indicating strong growth potential and favorable market conditions [43][44].

Investment Rating - The report maintains an "Accumulate" rating for the gas industry [1] Core Views - The report highlights a warming trend in temperatures leading to a decline in gas prices in Europe and the US, while domestic gas prices remain stable [1][9] - It emphasizes the overall supply being relaxed, with domestic gas prices decreasing by 2.0% week-on-week [26] - The report suggests that the pricing mechanism is being rationalized, and demand is expected to increase [1] Price Tracking - As of February 6, 2026, the week-on-week changes in gas prices are as follows: US HH down 31.5%, European TTF down 11%, East Asia JKM down 3.6%, China LNG ex-factory down 2%, and China LNG CIF down 11.6% [9][10] - The report notes that the average gas consumption in Europe for the first ten months of 2025 was 349.5 billion cubic meters, a year-on-year increase of 4.6% [15] Supply and Demand Analysis - The report indicates that the US natural gas market price decreased by 31.5% week-on-week due to a high base, with storage levels at 28,230 billion cubic feet, a year-on-year increase of 9.8% [14] - In Europe, gas supply decreased by 5.2% week-on-week, with a notable drop in gas-fired power generation output by 10.9% week-on-week [15] - Domestic gas consumption for 2025 is projected to increase by 2.3% year-on-year to 433.2 billion cubic meters, attributed to warmer winter conditions affecting heating gas demand [26] Pricing Progress - The report states that 68% of cities have implemented residential pricing adjustments, with an average increase of 0.22 yuan per cubic meter [40] - The report anticipates continued pricing adjustments and improvements in profitability for city gas companies [40] Investment Recommendations - The report recommends focusing on companies that can optimize costs and benefit from the ongoing pricing adjustments, such as Xin'ao Energy, China Resources Gas, and Kunlun Energy [1] - It also suggests monitoring companies with quality long-term contracts and flexible scheduling capabilities, such as Jiufeng Energy and Xin'ao Co. [1] - The report highlights the importance of energy independence and recommends companies with gas production capabilities, such as Shouhua Gas [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：605090 证券简称：九丰能源 公告编号：2026-007 江西九丰能源股份有限公司 关于副总经理、董事会秘书离任的公告 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。 江西九丰能源股份有限公司（以下简称"公司"）董事会于近日收到董事、副总经理、董事会秘书黄博先 生的书面离任报告。黄博先生因个人职业发展规划，申请辞去公司副总经理、董事会秘书职务，离任后 继续在公司担任董事职务并开展相关工作。 一、离任的基本情况 ■ 二、离任对公司的影响 根据相关法律法规和《公司章程》等规定，黄博先生的离任报告自送达董事会之日起生效。截至本公告 披露日，黄博先生未持有公司股份，不存在应当履行而未履行的公开承诺事项。 为保障董事会工作的正常开展，在公司正式聘任董事会秘书之前，由公司董事、总经理吉艳女士代为履 行董事会秘书职责，公司将按照相关规定尽快聘任新的董事会秘书。 黄博先生在任职期间，始终恪尽职守、勤勉尽责，在公司战略规划、新业务拓展、投资管理、资本运 作、信息披露、投资者关系等方 ...

证券日报网讯2月6日，九丰能源（605090）在互动平台回答投资者提问时表示，目前，公司经营情况正 常，不存在应披露而未披露的情形。公司严格遵守《证券法》《上市公司信息披露管理办法》等相关法 律、行政法规、部门规章、规范性文件的要求，依法合规履行信息披露义务。 ...