Core Viewpoint - Jiufeng Energy (605090.SH) plans to invest in a coal-to-natural gas demonstration project in collaboration with Xinjiang Qinghua Energy Group and Henan Future Silk Road Clean Energy Partnership, with a total investment of RMB 23.033 billion [1] Investment Details - The project aims to produce 5.5 billion cubic meters of coal-to-natural gas annually, with the second phase specifically targeting an annual output of 4 billion cubic meters [1] - Jiufeng Energy's total investment will not exceed RMB 3.455 billion, sourced from its own funds or self-raised capital [1] - Upon completion, Jiufeng Energy will hold a 50% stake in the second phase of the project, corresponding to an annual production capacity of 2 billion cubic meters of natural gas [1]

成为最具价值创造力的清洁能源服务商 证券代码：605090 证券简称：九丰能源 公告编号：2025-080 江西九丰能源股份有限公司 第三届董事会第十四次会议决议公告 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。 一、董事会会议召开情况 江西九丰能源股份有限公司（以下简称"公司"）第三届董事会第十四次会议于 2025 年 9 月 26 日（星期五）以现场结合通讯表决方式召开。会议通知于 2025 年 9 月 23 日 （星期二）以电子邮件等方式送达全体董事。本次会议应出席董事九人，实际出席董事 九人，会议由董事长张建国先生召集并主持。公司全体监事及部分高级管理人员列席本 次会议。会议的召集、召开及表决程序符合有关法律法规和《公司章程》的相关规定。 二、董事会会议审议情况 经与会董事认真审议，本次会议逐项表决通过了以下决议： （一）审议通过《关于拟对外投资建设新疆煤制天然气项目的议案》 为构建"权益气+长约气+现货气"的多元化上游资源池，持续扩大客户覆盖范围， 进一步提升与拓展公司业务格局及发展空间，公司拟作为产业投资人，与新 ...

Group 1 - The company, Jiufeng Energy, plans to invest in the Xinjiang coal-to-natural gas project, collaborating with Xinjiang Qinghua Energy Group and Henan Future Silk Road Clean Energy Partnership, with a total investment of RMB 230.33 billion [1] - Jiufeng Energy's contribution will not exceed RMB 34.55 billion, and it will hold a 50% stake in the second phase of the project, which is expected to produce 2 billion cubic meters of natural gas annually [1] - The board has authorized the management to sign joint venture agreements with partners under legal and fair principles [1] Group 2 - The feasibility of the project is supported by the approval from the National Development and Reform Commission for the first phase, which has a production capacity of 5.5 billion cubic meters of coal-to-natural gas [2] - The project will consume approximately 11.796 million tons of raw coal annually, primarily sourced from the Yining mining area, ensuring a stable supply of coal resources [2] - The project has obtained water usage permits for an estimated annual water consumption of about 22.316 million cubic meters, meeting the project's requirements [2] - A 43-kilometer gas pipeline has been completed to connect the coal-to-gas base to the national pipeline network, facilitating the distribution of natural gas [2] - The first phase of the project has been operating at full capacity, and the coal-to-gas industry has matured over the past decade, providing a solid foundation for the project's implementation [2]

Core Viewpoint - The company, Jiufeng Energy, plans to invest in a coal-to-natural gas project in collaboration with Xinjiang Qinghua and Henan Future Silk Road Clean Energy Partnership, with a total investment not exceeding 3.455 billion yuan [2] Investment Details - The project involves the construction of the second phase of a coal-to-natural gas demonstration project with an annual production capacity of 5.5 billion cubic meters, specifically focusing on a 4 billion cubic meter coal-to-natural gas project [2] - Jiufeng Energy will hold a 50% stake in the second phase of the project, corresponding to an annual production of 2 billion cubic meters of natural gas [2] - The funding for the project will come from the company's own resources or through self-raised funds, with a construction period not exceeding 36 months [2]

智通财经APP讯，九丰能源(605090.SH)发布公告，公司拟作为产业投资人，与新疆庆华能源集团有限 公司(以下简称"新疆庆华")、河南未来丝路清洁能源合伙企业(有限合伙)(以下简称"河南丝路")共同投资 建设新疆庆华年产55亿立方米煤制天然气示范项目二期工程(年产40亿方煤制天然气项目)(总投资人民币 230.33亿元)，其中公司累计出资不超过人民币34.55亿元，资金来源为自有或自筹，届时公司将持有二 期工程项目50%的权益(对应年产20亿方天然气)。 ...

九丰能源公告，公司作为产业投资人，拟累计出资不超过人民币34.55亿元投资新疆煤制天然气项目， 资金来源为自有或自筹。项目建设周期不超过36个月，公司将持有该项目50%的权益（对应年产20亿方 天然气）。项目预计年耗用原煤1179.6万吨，已获相关取水许可，可满足项目所需水量。项目预计年用 水量约2231.6万立方米，已获得相关取水许可，可满足本项目所需水量。 ...

Group 1 - The article highlights the top 20 stocks in the S&P China A-Share Dividend Opportunity Index, showcasing their performance in terms of daily increase, year-to-date increase, and dividend yield [1] - The stock with the highest daily increase is Jiufeng Energy (605090.SH) at 8.09%, with a year-to-date increase of 22.18% and a dividend yield of 3.51% [1] - Zhongchuang Zhiling (601 TASH) shows a remarkable year-to-date increase of 99.44%, despite a daily increase of 6.31% and a dividend yield of 4.62% [1] Group 2 - Other notable performers include Jiansheng Group (603558.2H) with a daily increase of 4.45% and a year-to-date increase of 1.78%, offering a dividend yield of 5.45% [1] - Kuka Home (603816.SH) has a daily increase of 4.03% and a year-to-date increase of 20.64%, with a dividend yield of 4.38% [1] - The list also includes companies like China Foreign Trade (601598.SH) with a year-to-date increase of 32.43% and a dividend yield of 4.17% [1]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Views - The report highlights that in August 2025, the average daily power generation exceeded 30 billion kilowatt-hours for the first time, with a total industrial power generation of 936.3 billion kilowatt-hours, reflecting a year-on-year growth of 1.6% [4][7][53] - The report emphasizes the continuous improvement in the power generation structure, with significant contributions from clean energy sources such as wind and solar power, amidst ongoing dual carbon policies and the development of a new power system [8][9][12] Summary by Sections 1. Power Generation - In August 2025, the total power generation reached 936.3 billion kilowatt-hours, with a daily average of 30.2 billion kilowatt-hours, marking a 1.6% increase year-on-year [4][7] - The breakdown of power generation types shows that thermal power generation increased by 1.7%, nuclear power by 5.9%, wind power by 20.2%, and solar power by 15.9%, while hydropower decreased by 10.1% [9][12] - Wind power contributed the most to the increase in power generation, adding 12.4 billion kilowatt-hours compared to the same month last year [8][9] 2. Natural Gas - The report indicates a stable supply-demand balance in the natural gas market, with global gas prices experiencing slight fluctuations [18][19] - As of September 19, 2025, the Henry Hub spot price was $2.89/mmBtu, reflecting a weekly decrease of 1.80% [19][21] - The report suggests that the LNG prices in Northeast Asia remained stable at $11.50/mmBtu, with expectations of a further decline in prices as summer heat waves end [18][35] 3. Investment Analysis - Recommendations for investment include: - Hydropower: Favorable financial conditions due to interest rate cuts, with suggested companies being Guotou Power, Chuan Investment Energy, and Yangtze Power [16] - Green Energy: Increased stability in returns for renewable energy operators, with a focus on companies like Xintian Green Energy and Longyuan Power [16] - Nuclear Power: Continued approval of new units, with recommendations for China Nuclear Power and China General Nuclear Power [16] - Thermal Power: Improved profitability due to falling coal prices, with recommendations for Guodian Power and Huaneng International [16] - Gas Utilities: Favorable conditions for city gas companies, with recommendations for Kunlun Energy and New Hope Energy [40]

成为最具价值创造力的清洁能源服务商 证券代码：605090 证券简称：九丰能源 公告编号：2025-079 江西九丰能源股份有限公司 关于公司为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： 被担保人名称：东莞市九丰能源有限公司（以下简称"东九能源"）、东莞市 九丰天然气储运有限公司（以下简称"九丰天然气"），均为江西九丰能源股份有限 公司（以下简称"公司""上市公司"或"九丰能源"）合并报表范围内子公司。 本次担保本金金额合计：最高不超过人民币 60,000.00 万元。 已实际为上述被担保人提供的担保金额：截至 2025 年 9 月 19 日，公司及子公 司为东九能源、九丰天然气实际担保余额分别为人民币 80,374.99 万元、23,807.00 万元。 本次担保是否有反担保：无。 对外担保逾期的累计数量：无。 成为最具价值创造力的清洁能源服务商 （二）本次担保履行的内部决策程序 根据公司第三届董事会第九次会议以及 2024 年年度股东大会等决议授权，公司预 计为控股子公司及参股公司 ...

Core Viewpoint - Jiufeng Energy announced that as of September 19, 2025, all external guarantees are within the consolidated scope of the company, with a total guarantee balance of approximately 2.811 billion RMB, accounting for 30.37% of the audited net assets attributable to shareholders by the end of 2024 [1] Financial Performance - For the year 2024, Jiufeng Energy's revenue composition is as follows: clean energy accounts for 89.16%, energy services for 9.77%, specialty gases for 1.07%, and other businesses for 0.01% [1] - As of the report date, Jiufeng Energy's market capitalization is 21.9 billion RMB [1]