每经AI快讯，8月18日，伊泰B股公告称，近日关注到部分投资者在股吧等媒体发布"美国页岩油回 国""新潮能源出口美国页岩油"等不实信息，为避免相关不实信息对投资者造成误导，现予以澄清说 明。经核实，公司及其子公司目前并无上述不实消息提及的石油进出口计划。 ...

Core Viewpoint - The competitive tender offer for ST Xinchao by Jindi Petroleum has failed as the number of shares tendered did not meet the required threshold for the offer to be effective [1][2][3] Group 1: Competitive Tender Offer Details - Jindi Petroleum's tender offer was for 20% of ST Xinchao's total shares at a price of 3.10 yuan per share, requiring a maximum funding of 42.16 billion yuan [3][4] - The offer was unsuccessful as only 963.2 million shares were tendered, representing approximately 0.14% of the total shares, which was below the required amount [2][3] - The competitive nature of the tender offer was intensified by the entry of Yitai B shares, which offered a higher price of 3.40 yuan per share, leading to a significant withdrawal of shares from Jindi's offer [5][6] Group 2: Yitai B Shares Offer - Yitai B shares initiated their tender offer on April 18, 2025, with a price of 3.40 yuan per share, which is nearly 20% higher than ST Xinchao's closing price of 2.84 yuan on that date [5][6] - As of May 7, 2025, Yitai B shares had received tenders for 13.58 billion shares, accounting for approximately 19.99% of ST Xinchao's total shares, with only 8.01% remaining to meet the offer's effectiveness condition [6][7] - The total number of shares Yitai B shares aims to acquire is 34.68 billion, representing 51% of ST Xinchao's total shares, with a maximum funding requirement of 117.92 billion yuan [6][7] Group 3: Regulatory and Market Context - ST Xinchao is currently under investigation by the China Securities Regulatory Commission due to delays in disclosing its annual report, which has led to its stock being suspended [7][8] - Despite the investigation, the ongoing tender offers are not affected, allowing investors to continue participating in the Yitai B shares offer [7][8] - The case of ST Xinchao highlights the complexities and regulatory challenges in competitive tender offers, especially in the context of cross-border assets and compliance [11]

证券代码：900948 证券简称：伊泰 B 股 公告编号：临 2025-044 内蒙古伊泰煤炭股份有限公司 关于公司 2025 年 6 月对外提供担保的进展公告 单位：万元 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： ? 被担保人名称及是否为上市公司关联人：被担保人为内蒙古伊泰化工有 限责任公司、伊泰伊犁矿业有限公司，均不是公司关联人。 ? 6 月实际发生担保 535.71 万元，无反担保。 ? 对外担保逾期的累计数量：截至本公告日，无逾期对外担保。 ? 特别风险提示：公司实际发生的对外担保均为合并报表范围内企业，风 险可控。 一、 公司对外担保预计审批情况 内蒙古伊泰煤炭股份有限公司（"公司"或"本公司"）于 2025 年 4 月 28 日、2025 年 5 月 19 日分别召开了第九届董事会第十五次会议和 2024 年年度股 东大会，审议通过了《关于公司 2025 年度为控股子公司提供担保预计的议案》 及《关于公司 2025 年度为部分全资子公司、控股子公司商业承兑汇票融资业务 提供担保预计的议案》，同 ...

证券代码：900948 证券简称：伊泰 B 股 公告编号：临 2025-043 | 项目 | 2025 年第二季度 | 2025 年 1-6 | 月 | | | | --- | --- | --- | --- | --- | --- | | | | | 第二季度 | | 1-6 月 | | 煤炭产量（万吨） | 1,562.17 | 3,007.72 | | 13.52 | 17.59 | | 销售煤炭（万吨） | 1,847.40 | 3,633.62 | | 8.51 | 10.83 | | 销售收入（万元） | 748,489.19 | 1,562,986.20 | | -20.25 | -17.66 | | 销售成本（万元） | 558,757.85 | 1,132,408.84 | | -13.95 | -11.14 | | 销售毛利（万元） | 189,731.34 | 430,577.35 | | -34.39 | -30.97 | 以上生产经营数据源自公司内部统计，为投资者及时了解公司生产经营概况 之用，可能与公司定期报告披露的数据有差异。投资者应注意不恰当信赖或使用 以上信息可能造成投资风险 ...

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： 对外担保逾期的累计数量：截至本公告日，无逾期对外担保。 证券代码：900948 证券简称：伊泰 B 股 公告编号：临 2025-044 内蒙古伊泰煤炭股份有限公司 被担保人名称及是否为上市公司关联人：被担保人为内蒙古伊泰化工有 限责任公司、伊泰伊犁矿业有限公司，均不是公司关联人。 关于公司 2025 年 6 月对外提供担保的进展公告 6 月实际发生担保 535.71 万元，无反担保。 一、公司对外担保预计审批情况 内蒙古伊泰煤炭股份有限公司（"公司"或"本公司"）于 2025 年 4 月 28 日、2025 年 5 月 19 日分别召开了第九届董事会第十五次会议和 2024 年年度股 东大会，审议通过了《关于公司 2025 年度为控股子公司提供担保预计的议案》 及《关于公司 2025 年度为部分全资子公司、控股子公司商业承兑汇票融资业务 提供担保预计的议案》，同意公司为控股子公司向金融机构借款或融资提供总额 不超过 211.50 亿元的担保（包括但不限于抵押、质押 ...

币种：人民币 | 项目 | 2025 年第二季度 | 2025 年 1-6 月 | 同比增减变动幅度(%) | | | --- | --- | --- | --- | --- | | | | | 2025 年 | 2025 年 | | | | | 第二季度 | 1-6 月 | | 煤炭产量（万吨） | 1,562.17 | 3,007.72 | 13.52 | 17.59 | | 销售煤炭（万吨） | 1,847.40 | 3,633.62 | 8.51 | 10.83 | | 销售收入（万元） | 748,489.19 | 1,562,986.20 | -20.25 | -17.66 | | 销售成本（万元） | 558,757.85 | 1,132,408.84 | -13.95 | -11.14 | | 销售毛利（万元） | 189,731.34 | 430,577.35 | -34.39 | -30.97 | 证券代码：900948 证券简称：伊泰 B 股 公告编号：临 2025-043 内蒙古伊泰煤炭股份有限公司 关于 2025 年第二季度经营情况的公告 本公司董事会及全体董事保证本公告内容不存在任 ...

Core Viewpoint - *ST Xinchao (600777.SH) is facing increasing delisting risks despite having 7.9 billion in undistributed profits, as it has not issued dividends for 15 years, raising concerns among investors [1][5]. Group 1: Shareholder Meeting and Control Changes - On July 24, *ST Xinchao held its third extraordinary general meeting of shareholders for 2025, which was self-convened by six shareholders holding a combined 14.99% stake, marking the first instance of a self-convened shareholder meeting by minority shareholders in A-share listed companies in 2025 [1]. - The meeting resulted in the election of Zhang Junyu from the Yitai Group as the chairman of the 13th board of directors, indicating a shift in control towards Yitai B shares, which successfully acquired a 51% stake in *ST Xinchao [3][2]. - Prior to the meeting, the current management warned that the convening of the extraordinary general meeting did not comply with legal regulations [3]. Group 2: Financial Performance and Risks - *ST Xinchao has reported revenues of 9.36 billion, 8.85 billion, and 8.36 billion for the years 2022 to 2024, with net profits of 3.13 billion, 2.60 billion, and 2.04 billion respectively, totaling 7.76 billion in profits over three years [6]. - As of the first quarter of 2025, the company achieved a revenue of 2.16 billion and a net profit of 590 million, with accumulated undistributed profits reaching 7.92 billion [6]. - The company has been under investigation by the China Securities Regulatory Commission since May 6 for failing to disclose periodic reports on time, leading to its stock being suspended and marked with delisting risk warnings [5]. Group 3: Dividend Policy and Future Commitments - *ST Xinchao has not issued dividends since 2009, despite its substantial undistributed profits, which has drawn criticism from minority shareholders [5][7]. - Zhang Jingquan, chairman of Yitai B shares, committed to maximizing company value and adhering to new regulations to enhance investor returns, highlighting Yitai's history of 29 dividend distributions totaling over 36 billion [7].

Core Viewpoint - The control battle for *ST Xinchao reached a significant turning point on July 24, with a successful temporary shareholders' meeting that resulted in a major change in the company's governance structure [1] Summary by Sections Election Results - The temporary shareholders' meeting approved all proposals for the early re-election of the board of directors and the supervisory board. In the non-independent director elections, Zhang Xiuwen, Zhang Junyu, Liu Chunlin, Zhang Jingquan, and Lian Tao were successfully elected, with four of them having backgrounds in Yitai Group. Independent directors Chen Xiaojun, Xu Huaxi, and Xie Xianghua were elected, with Xie having served as an independent director for Yitai B shares from 2007 to 2013. The newly formed 13th board of directors elected Zhang Junyu as chairman, and the legal representative was changed from Liu Bin to Zhang Junyu. The company also appointed new senior management and relocated its office from Chaoyang District, Beijing, to Yantai City, Shandong Province. In the supervisory board re-election, Yang Xu was elected as chairman, and Su Taoyong remained a supervisor. Notably, 6 out of the 10 members of the new board and supervisory board have backgrounds in Yitai Group, indicating Yitai's dominant position in the company's governance [3] Control Battle History - The control battle for *ST Xinchao dates back to April of this year when Yitai B shares made a partial tender offer to all shareholders of *ST Xinchao, planning to acquire 51% of the shares. By the end of the tender offer on May 22, Yitai B shares had spent over 11.5 billion yuan to successfully acquire 50.1% of *ST Xinchao's shares, becoming the largest shareholder. This acquisition set a record for the first competitive tender offer in A-shares. However, despite gaining a controlling position, Yitai B shares faced significant resistance during the transition of the board and senior management. On June 21, shareholders Shenzhen Hongyu, Chen Kaijun, and four others requested a shareholders' meeting to elect a new board and supervisory board, which was unanimously rejected by the current board on June 28. Subsequently, the same request was made to the supervisory board but was not approved in the meeting on July 4. Faced with continuous obstacles, the six shareholders decided to convene a shareholders' meeting independently, ultimately leading to the temporary shareholders' meeting on July 24 [4]

Group 1 - The temporary shareholders' meeting of *ST Xinchao (600777) was held on July 24, marking a new phase in the control struggle of the company [1] - The meeting adopted a combination of on-site and online voting, with 1,195 shareholders and agents present, representing 4,707,457,561 shares, accounting for 81.487% of the total voting shares [1] - All proposals regarding the early re-election of the board of directors and the election of non-independent and independent directors were approved, with Zhang Junyu from Yitai Group elected as chairman [1][4] Group 2 - Yitai B shares acquired over 51% of *ST Xinchao's shares, becoming the largest shareholder after investing more than 11.5 billion yuan [1] - The company faced a suspension of trading due to the inability to disclose its regular report within the legal timeframe, with potential delisting risks if the 2024 annual report is not disclosed [2] - After resuming trading on July 8, *ST Xinchao's stock price saw a maximum increase of over 56% in nearly 14 trading days, closing at 4.66 yuan per share on July 25 [2] Group 3 - The transition of the board and management team has been contentious, with multiple rounds of disputes among existing management and minority shareholders [3] - Previous attempts to convene a shareholders' meeting for board re-election were rejected by the current board, leading to a self-convened meeting on July 24 [3][4] - The newly elected board includes several members with backgrounds from Yitai Group, indicating a significant shift in governance [4] Group 4 - Zhang Jingquan, chairman of Yitai B, emphasized the company's experience in coal and petrochemical industries and its commitment to maximizing shareholder value [5] - Yitai Group has a history of significant shareholder returns, having distributed over 36 billion yuan in dividends over 27 years [5]

证券代码：900948 证券简称：伊泰 B 股 公告编号：临 2025-042 内蒙古伊泰煤炭股份有限公司 关于延期更换选举独立董事的公告 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。 内蒙古伊泰煤炭股份有限公司（以下简称"公司"）独立董事杜莹芬女士于 2019年7月22日起任公司独立董事，至2025年7月21日连任时间届满六年。根据《上 市公司独立董事管理办法》关于"独立董事每届任期与上市公司其他董事任期相 同，任期届满，可以连选连任，但是连续任职不得超过六年"的规定，公司需要 更换选举独立董事。 目前，公司正在积极筹备更换选举独立董事的相关工作，鉴于公司独立董事 候选人提名等工作尚未完成，为确保相关工作的连续性及稳定性，本次更换选举 独立董事工作将适当延期。 独立董事杜莹芬女士期满离任将导致公司独立董事占董事会成员的比例低 于三分之一，根据《上市公司独立董事管理办法》及《公司章程》等相关规定， 杜莹芬女士离任将在公司股东大会选举产生新任独立董事后生效。在此期间，杜 莹芬女士将继续履行独立董事及董事会各专门委员会成员的相关 ...