股东及高级管理人员减持股份计划公告 本公司董事会、全体董事及相关股东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、减持主体的基本情况 | 证券代码：605368 | 证券简称：蓝天燃气 公告编号：2025-042 | | --- | --- | | 转债代码：111017 | 转债简称：蓝天转债 | 河南蓝天燃气股份有限公司 | 持股比例 | 1.14% | | | --- | --- | --- | | 当前持股股份来源 | IPO | 前取得：8,114,400股 | | 股东名称 | 李效萱 | | | | --- | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 直接持股 5%以上股东 | □是 □是 | □否 □否 | | | 董事、监事和高级管理人员 | □是 | □否 | | | 其他：IPO 前股东 | | | | 持股数量 | 1,160,600股 | | | | 持股比例 | 0.16% | | | | 当前持股股份来源 | IPO 前取得：1,160,600股 | | ...

蓝天燃气（605368）公告，股东李国喜持有811.44万股，占1.14%，拟于2025年8月14日至2025年11月14 日期间以集中竞价方式减持不超过200万股，占0.280%；股东李效萱持有116.06万股，占0.16%，拟减持 不超过29万股，占0.041%；董事会秘书赵鑫持有140.09万股，占0.20%，拟减持不超过32万股，占 0.045%。 ...

Investment Rating - The report maintains an "Accumulate" rating for the gas industry, specifically recommending New World Energy for its stable profits and high dividend yield [1]. Core Insights - The report highlights the upward trend in European gas prices due to ongoing storage developments, while high temperatures have led to a decline in U.S. gas prices. Domestic gas prices are showing weak performance [5][10]. - The supply-demand analysis indicates that U.S. natural gas prices decreased by 3.5% week-on-week, with total supply down by 0.7% and total demand up by 0.8% as of July 9, 2025. In Europe, gas prices increased by 4.6% week-on-week, with a total consumption of 192 billion cubic meters in the first four months of 2025, up 7.4% year-on-year [5][17][19]. - The report emphasizes the importance of the recent reduction in U.S. LNG import tariffs from 140% to 25%, which enhances the economic viability of U.S. gas imports [45][51]. Price Tracking - As of July 11, 2025, the week-on-week price changes for various gas prices are as follows: U.S. HH gas price decreased by 3.5%, European TTF increased by 4.6%, and domestic LNG prices increased by 1.1% [10][15]. - The average total supply of natural gas in the U.S. was 1,125 billion cubic feet per day, with a year-on-year increase of 3.4% [17]. Supply and Demand Analysis - The report notes that the average total demand for natural gas in the U.S. increased by 2% year-on-year, with residential and commercial consumption rising by 2.3% week-on-week [17]. - In Europe, the gas supply decreased by 6% week-on-week, with significant contributions from inventory consumption and LNG receiving stations [19]. Investment Recommendations - The report recommends focusing on companies with stable profit structures and high dividend yields, such as New World Energy (2025 dividend yield of 5.3%), China Gas (2025 dividend yield of 6.4%), and Blue Sky Gas (TTM dividend yield of 8.9%) [51][52]. - It suggests monitoring companies with quality long-term contracts and cost advantages, such as New World Holdings and Jiufeng Energy [52]. Important Events - The report mentions that the European Parliament and EU member states have agreed to provide greater flexibility regarding gas storage targets, allowing for a deviation of 10 percentage points from the 90% storage target [50].

中兴财光华会计师事务所（特殊普通合伙） 关于河南蓝天燃气股份有限公司 2024 年度报告问询函的回复 关于河南蓝天燃气股份有限公司 2024年度报告问询函的回复 上海证券交易所: 根据贵所下发的《关于对河南蓝天燃气股份有限公司 2024年年度报告的信 息披露监管问询函》（上证公函〔2025〕第 0764 号）（ 以下简称"问询函"） 的要求,我们对问询函中提及的事项进行了审慎核查。现回复如下(除特别说 明外,均以人民币万元列示,回复中若出现各分项数值之和与总数尾数不符的 情况,均为四舍五入原因造成): 问题一、关于业绩承诺。年报及相关公告显示,前期公司发行股份收购长 葛 蓝天新能源有限公司(以下简称长葛蓝天)52%股权并将其纳入合并报表范 围,交易对方设有 2022年至 2024年三年期业绩承诺。长葛蓝天主要从事河南 省长葛市的城市燃气业务,分为天然气销售和燃气工程安装,2024年合计扣非 归母净利润为 6,888.09 万元,实现当年业绩承诺的比例为 104.09%。关注到，长 葛蓝天 2022 年、2023 年业绩承诺完成率也分别为 101.65%、104.33%，已连续三 年压线完成业绩承诺。此外,长葛 ...

证券代码：605368 证券简称：蓝天燃气 公告编号：2025-041 转债代码：111017 转债简称：蓝天转债 河南蓝天燃气股份有限公司 关于公司 2024 年年度报告的信息披露监管问询函 的回复公告 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。 河南蓝天燃气股份有限公司（以下简称"公司"）于近期收到上 海证券交易所《关于河南蓝天燃气股份有限公司 2024 年年度报告的 信息披露监管问询函》（上证公函【2025】0764 号）（以下简称"《问 询函》"），根据《问询函》要求，公司对 2024 年年度报告相关事 项回复并补充披露如下： 问题一、关于业绩承诺。年报及相关公告显示，前期公司发行股 份收购长葛蓝天新能源有限公司（以下简称长葛蓝天）52%股权并将 其纳入合并报表范围，交易对方设有 2022 年至 2024 年三年期业绩承 诺。长葛蓝天主要从事河南省长葛市的城市燃气业务，分为天然气销 售和燃气工程安装，2024 年合计扣非归母净利润为 6,888.09 万元， 实现当年业绩承诺的比例为 104.09%。关注到，长葛 ...

证券代码：605368 证券简称：蓝天燃气 公告编号：2025-040 转债代码：111017 转债简称：蓝天转债 重要内容提示： 本季度转股情况：自 2025 年 4 月 1 日至 2025 年 6 月 30 日累计有 1,000 元"蓝天转债"转为公司 A 股股票，因转股形成的股份数量为 119 股。 一、可转债发行上市概况 经中国证券监督管理委员会《关于同意河南蓝天燃气股份有限公 司向不特定对象发行可转换公司债券注册的批复》（证监许可〔2023〕 1630号）核准，公司于2023年8月15日向不特定对象发行了870万张可 转换公司债券，每张面值100元，发行总额8.70亿元。期限6年，票面 河南蓝天燃气股份有限公司 关于"蓝天转债"转股结果暨股份变动公告 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。 1 累计转股情况："蓝天转债"自 2024 年 2 月 21 日开始转股，截至 2025 年 6 月 30 日，"蓝天转债"累计转股的金额为 198,458,000 元，累计因转股形成的股份数量为 21,836,087 ...

Investment Rating - The report maintains an "Overweight" rating for the gas industry [1] Core Insights - The easing of Middle East tensions has led to a decline in European gas prices, while high temperatures have driven up US gas prices, with domestic prices remaining stable [4][9] - The supply-demand dynamics indicate a slight increase in US gas supply and demand, with total supply rising by 0.2% week-on-week to 1,125 billion cubic feet per day, and total demand increasing by 6.3% to 1,047 billion cubic feet per day [16][24] - The report highlights the ongoing price adjustments in the domestic market, with a gradual implementation of pricing reforms across various cities [40] Price Tracking - As of June 27, 2025, US HH gas prices increased by 4.1% week-on-week, while European TTF prices decreased by 17.8% [9][14] - The domestic LNG ex-factory price was reported at 4,416 CNY per ton, with a slight week-on-week increase of 0.2% [14][29] Supply and Demand Analysis - The report notes that the average total supply of natural gas in the US has increased by 4.0% year-on-year, while total demand has grown by 1.6% year-on-year [16][24] - European gas consumption for the first quarter of 2025 was 160 billion cubic meters, reflecting an 8.9% year-on-year increase [19] Pricing Mechanism Progress - The report indicates that 64% of cities have implemented residential pricing adjustments, with an average increase of 0.21 CNY per cubic meter [40] Important Events - The US gas import tariff has been reduced from 140% to 25%, enhancing the economic viability of US gas imports [47][49] - The European Parliament has agreed to provide greater flexibility regarding gas storage targets, allowing for a deviation of 10% from the 90% storage goal [52] Investment Recommendations - The report recommends focusing on companies that can optimize costs and benefit from pricing reforms, highlighting New Energy, China Gas, and Kunlun Energy as key investment opportunities [53][54] - It also suggests monitoring companies with quality long-term contracts and flexible scheduling capabilities, such as Jiufeng Energy and New Energy [54]

Group 1 - The company issued a total of 870 million yuan in convertible bonds, with a maturity of six years and a face value of 100 yuan per bond [1][12][14] - The coupon rates for the bonds are set at 0.30% for the first year, increasing to 2.00% by the sixth year [1][12] - The initial conversion price for the bonds is set at 10.13 yuan per share, with adjustments based on future corporate actions [1][22] Group 2 - In 2024, the company achieved a revenue of 4.755 billion yuan and a net profit of 503 million yuan, indicating a decline in profitability compared to the previous year [12][14] - The total assets of the company decreased by 7.47% year-on-year, amounting to 621.6 million yuan at the end of 2024 [12][14] - The company’s net assets attributable to shareholders decreased by 5.81% to 3.614 billion yuan [12][14] Group 3 - The company has utilized 29.46 million yuan of the raised funds for various projects, including natural gas pipeline construction and debt repayment [12][14] - The company has not provided any guarantees for the bonds, as its net assets exceed the required threshold [10][14] - The company has a credit rating of AA, with a stable outlook, as assessed by Zhongzheng Pengyuan [10][16] Group 4 - The company has adjusted the conversion price of the bonds multiple times due to profit distributions, with the latest adjustment reducing the price to 8.83 yuan per share [4][23] - The company has the right to redeem the bonds if the stock price exceeds 130% of the conversion price for a specified period [6][18] - The company has not exercised its right to redeem the bonds early, despite meeting the conditions for doing so [18][19]

河南蓝天燃气股份有限公司可转换公司债券 受托管理事务报告 （2024 年度） 发行人：河南蓝天燃气股份有限公司 股票代码：605368.SH 股票简称：蓝天燃气 转债代码：111017.SH 转债简称：蓝天转债 2025 年 6 月 1 重要声明 依据《可转换公司债券管理办法》（以下简称"《管理办法》"）、《募集 说明书》《受托管理协议》等相关规定及约定，招商证券股份有限公司（以下简 称"招商证券"、"受托管理人"）作为本次债券的受托管理人编制本报告。招 商证券编制本报告的内容及信息均来源于公开信息、河南蓝天燃气股份有限公司 （以下简称"蓝天燃气"、"公司"、"发行人"）对外发布的《河南蓝天燃气 股份有限公司 2024 年年度报告》等公开信息披露文件、发行人提供的相关资料 或出具的相关说明以及第三方中介机构出具的专业意见。招商证券对本报告中所 包含的从上述文件中引述内容和信息未进行独立验证，也不就该等引述内容和信 息的真实性、准确性和完整性作出任何保证或承担任何责任。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的内容据以作为招商证券所作的承诺或声 明 ...

Core Viewpoint - The announcement details the partial release and new pledge of shares by the controlling shareholder, Blue Sky Group, which holds 42.84% of the total shares of Henan Blue Sky Gas Co., Ltd. [1] Group 1: Share Pledge Details - Blue Sky Group has released a total of 30,360,000 shares from pledge, accounting for 9.92% of its holdings and 4.25% of the company's total shares [1] - After the release, Blue Sky Group has a total of 201,960,000 shares pledged, which is 77.47% of its holdings and 28.26% of the company's total shares [1] - The new pledge involves 35,200,000 shares, with a pledge period from June 2025 to June 2028 [1] Group 2: Financial Health and Impact - Blue Sky Group's financial condition is reported to be good, with sufficient repayment ability from self-owned funds, investment income, and dividends from held shares [2][3] - The share pledges are not expected to have a significant impact on the company's operations, main business, financing costs, or ongoing viability [2][3] - There is no substantial risk of forced liquidation, and the company will monitor the situation closely [3]