Group 1 - Gansu Energy Chemical (甘肃能化) announced a water inrush accident at its subsidiary, Gansu Jingmei Energy, resulting in the death of 3 workers [1] - The company has total assets of 23.09 billion and employs 13,691 staff, with a coal production capacity of 10.54 million tons per year [1] - The Wangjiashan coal mine produced 733,800 tons of coal in 2024, contributing 2.46 billion in revenue, which is 2.56% of the company's total revenue for that year [1] Group 2 - Gansu Energy Chemical's core business includes coal mining and sales, with a total annual production capacity of 16.24 million tons across its mining operations [2] - The company has experienced multiple safety incidents, including a CO2 outburst accident in April that resulted in 2 fatalities and 3 injuries [2] - The company has a comprehensive coal production, supply, and sales system, along with capabilities in various related services [2] Group 3 - In 2022, Gansu Energy Chemical acquired 100% of the shares of Yaomai Group for a total consideration of 7.529 billion, with additional fundraising of up to 3 billion [3] - The company reported a total revenue of 9.604 billion in 2024, a decrease of 14.7% year-on-year, and a net profit of 1.214 billion, down 30.13% [3] - The first quarter of 2025 showed a revenue of 1.92 billion, a decline of 32.1%, and a net profit of 51.06 million, down 90.5% year-on-year [3]

| 证券代码：000552 | 证券简称：甘肃能化 | 公告编号：2025-44 | | --- | --- | --- | | 债券代码：127027 | 债券简称：能化转债 | | 甘肃能化股份有限公司董事会 甘肃能化股份有限公司 关于公司董事、高管辞职的公告 2025 年 5 月 23 日 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚假记载、误导 性陈述或重大遗漏负连带责任。 朱新节先生在任职期间恪尽职守、勤勉尽责，公司及董事会对朱新节先生在 任职期间为公司合规管理、改革改制和经营发展做出的贡献表示衷心感谢！ 特此公告。 近日，公司收到朱新节先生的辞职报告，因上级组织对其工作另有安排，朱 新节先生辞去公司董事、总法律顾问职务。 朱新节先生未持有公司股份，其辞职将不会导致公司董事会低于法定人数， 根据《公司章程》有关规定，其辞职报告自送达之日生效。辞职生效后，朱新节 先生不再担任公司任何职务。 ...

甘肃能化（000552）公告，公司近日收到朱新节先生的辞职报告，因上级组织对其工作另有安排，朱新 节先生辞去公司董事、总法律顾问职务。朱新节先生未持有公司股份，其辞职将不会导致公司董事会低 于法定人数，根据《公司章程》有关规定，其辞职报告自送达之日生效。辞职生效后，朱新节先生不再 担任公司任何职务。 ...

华懋科技：公司筹划通过发行股份及支付现金的方式股权，5月21日起停牌 甘肃能化：下属王家山煤矿一号井发生透水事故 关注集思录微信 特别提示 本文不构成任何投资建议，仅为信息分享。任何因本文导致的投资行为发生的亏损，本公众号 及作者概不承担任何责任。 中装转2：下修不到底 *ST普利：最后交易日为2025年5月21日 华泰苏州恒泰租赁住房REIT【508085】：5月21日上市 集思录(www.jisilu.cn)是一个以数据为本的投资理财社区，专注于新股、可转债、债券、封闭 基金等数据服务。我们的理念是在保证本金安全的前提下，使资产获得稳健增长。 快捷查询： 搜索公众号"jisilu8"添加我们 ...

| 证券代码：000552 | 证券简称：甘肃能化 | 公告编号：2025-42 | | --- | --- | --- | | 债券代码：127027 | 债券简称：能化转债 | | 甘肃能化股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的 虚假记载、误导性陈述或重大遗漏负连带责任。 特别提示： 1.本次股东大会没有否决提案的情形。 2.本次股东大会没有变更以往股东大会已通过的决议的情形。 一、会议情况 （一）会议基本情况 1.会议届次：2024 年年度股东大会 2.召集人：公司董事会，公司第十届董事会第四十六次会议审议通过了《关于召开 2024 年年度股东大会的议案》。 3.会议召开的合法、合规性：公司董事会召集本次股东大会会议符合有关法律、行 政法规、部门规章、规范性文件和《公司章程》的相关规定。 4.召开时间： 现场会议时间：2025 年 5 月 20 日（星期二）14:50 网络投票时间：2025 年 5 月 20 日，其中：通过深圳证券交易所交易系统进行网络 投票的具体时间为 2025 年 5 月 20 日 9:15—9:25，9:30 ...

北京德恒（兰州）律师事务所 关于甘肃能化股份有限公司 2024 年年度股东大会 之 法律意见书 甘肃省兰州市城关区雁园路 601 号甘肃省商会大厦 A 座 15 层 电话：（0931）8260111 邮编：730030 关于甘肃能化股份有限公司 2024 年年度股东大会之法律意见书 北京德恒（兰州）律师事务所 关于甘肃能化股份有限公司 2024 年年度股东大会之 法律意见书 致：甘肃能化股份有限公司 北京德恒（兰州）律师事务所（以下简称"本所"）受甘肃能化股份有限公 司（以下简称"甘肃能化""贵公司""公司"）委托，指派陈澎波、王魁世律 师（以下简称"本所律师"）出席贵公司 2024 年年度股东大会（以下简称"本 次股东大会"），并对本次股东大会的合法性出具法律意见书。 本所律师列席了贵公司本次股东大会，并根据本法律意见书出具日前已发生 或存在的事实和《中华人民共和国公司法》（以下简称《公司法》）、《中华人 民共和国证券法》（以下简称《证券法》）、《上市公司股东大会规则》以及《甘 肃能化股份有限公司章程》（以下简称《公司章程》）等有关法律、法规和规范 性文件的有关规定出具本法律意见书。 为出具本法律意见书，本 ...

| 证券代码：000552 | 证券简称：甘肃能化 | 公告编号：2025-43 | | --- | --- | --- | | 债券代码：127027 | 债券简称：能化转债 | | 王家山煤矿分公司系非独立法人生产矿井，王家山煤矿分公司一号井具备独立生 产系统和安全生产许可证。2024年，生产煤炭产品73.38万吨，占2024年公司煤炭产 量的3.85%，测算2024年该矿井实现营业收入2.46亿元，占2024年公司营业收入的 2.56%。 公司对本次事故罹难职工表示沉痛哀悼，对职工家属表示诚挚慰问。目前，事故 原因正在调查中，善后及相关工作正在有序开展。截至本公告披露日，甘肃靖煤能源 有限公司其他单位生产经营正常，本次事故未对公司经营造成重大不利影响。公司将 深刻吸取事故教训，自觉铸牢安全发展理念，进一步压实安全责任，狠抓风险隐患排 查治理，深入推进安全生产标准化建设，着力提高安全管理水平。同时公司将充分关 注事故调查进展情况，按信息披露标准及时履行信息披露义务，敬请广大投资者注意 投资风险。 甘肃能化股份有限公司 关于下属王家山煤矿一号井发生透水事故的公告 本公司及董事会全体成员保证公告内容的真实、准 ...

Core Viewpoint - The report from Guosheng Securities indicates a significant decline in coal imports and a downward trend in reliance on thermal coal, with a projected annual decrease in thermal coal imports by 4.9% for 2025 [1][3]. Group 1: Coal Production and Import Trends - In April 2025, the raw coal production decreased by 5 million tons month-on-month, with a total output of 390 million tons, reflecting a year-on-year growth of 3.8% [2]. - The total coal imports in April 2025 were 37.83 million tons, a decrease of 16.41% compared to the same month last year [3]. - For the first four months of 2025, coal imports totaled 152.67 million tons, down 5.3% year-on-year [3]. Group 2: Power Generation Insights - In April 2025, the industrial power generation was 711.1 billion kWh, showing a year-on-year increase of 0.9% [4]. - The thermal power generation in April 2025 saw a year-on-year decline of 2.3%, maintaining the same decline rate as in March [4]. - Renewable energy sources such as wind and solar power showed accelerated growth rates of 12.7% and 16.7% respectively in April 2025 [4]. Group 3: Steel Production and Market Dynamics - The crude steel production in April 2025 was 86.02 million tons, remaining flat year-on-year [5]. - The average daily iron water production from 247 sample steel mills was 2.448 million tons, reflecting a year-on-year increase of 3.3% [5]. - The market anticipates a seasonal peak in steel demand, with potential downward pressure on iron water production due to slowing inventory depletion [5]. Group 4: Investment Recommendations - The report recommends key coal enterprises such as China Shenhua (601088) and China Coal Energy (601898) for investment [6]. - It highlights the potential of companies like Xinji Energy (601918) and Shaanxi Coal (601225) based on performance metrics [6][7]. - The report also notes the importance of monitoring the impact of coal imports and domestic policy changes on market dynamics [5][6].

Investment Rating - The industry investment rating is maintained as "Increase" [6] Core Viewpoints - The coal mining industry is expected to see improved demand as effective supply decreases, presenting a good investment opportunity since the beginning of the year [1] - In April 2025, the raw coal production decreased by 50 million tons month-on-month, with an annual growth rate of 3.8% [1][12] - The forecast for 2025 indicates a net increase in production of only 55-60 million tons, with a year-on-year growth rate of approximately 1.2-1.3%, continuing to slow down compared to 2024 [1][12] Summary by Sections Production - In April 2025, the raw coal production was 390 million tons, with a year-on-year increase of 3.8% [1][12] - The average daily production in April was 12.98 million tons [1][12] Import - In April 2025, coal imports were 37.83 million tons, a decrease of 16.41% year-on-year [2][16] - For the first four months of 2025, total coal imports were 152.67 million tons, down 5.3% year-on-year [2][16] - The forecast for 2025 suggests that thermal coal imports may stabilize or decline slightly, with an expected total of around 385 million tons, a year-on-year decrease of 4.9% [2][16] Demand - In April 2025, the industrial power generation was 711.1 billion kWh, with a year-on-year growth of 0.9% [3][19] - The industrial thermal power generation decreased by 2.3% year-on-year, remaining stable compared to March [3][19] - The growth rates for wind and solar power generation increased to 12.7% and 16.7% respectively in April [3][19] Investment Recommendations - Key recommendations include major coal enterprises such as China Shenhua (H+A), China Coal Energy (H+A), and turnaround opportunities like China Qinfa [5][37] - Other recommended stocks include new energy companies with strong performance such as Xinjie Energy, Shaanxi Coal, and Electric Power Energy [5][37] - Companies with potential for future growth include Huayang Co. and Gansu Energy [5][37]

Investment Rating - The industry investment rating is "Maintain Buy" [6] Core Viewpoints - The coal mining industry is expected to see improved demand and effective supply reduction, presenting a good investment opportunity since the beginning of the year [1] - In April 2025, the raw coal production decreased by 50 million tons month-on-month, with a total output of 390 million tons, reflecting a year-on-year growth of 3.8% [12][13] - The report anticipates a net increase in coal production of only 55 to 60 million tons in 2025, representing a year-on-year growth of approximately 1.2% to 1.3%, indicating a continued slowdown compared to 2024 [1][12] Production Summary - In April 2025, the raw coal production was 390 million tons, with a daily average of 12.98 million tons [12][13] - The cumulative raw coal production from January to April 2025 reached 1.58 billion tons, showing a year-on-year increase of 6.6% [12] Import Summary - In April 2025, coal imports were 37.83 million tons, a decrease of 16.41% year-on-year and a 2.34% decrease month-on-month [2][16] - From January to April 2025, total coal imports amounted to 152.67 million tons, down 5.3% year-on-year [16] - The report forecasts that the total annual coal imports for 2025 may be around 385 million tons, reflecting a year-on-year decline of 4.9% [2][16] Demand Summary - In April 2025, the industrial power generation was 711.1 billion kWh, with a year-on-year growth of 0.9% [3][19] - The industrial thermal power generation saw a year-on-year decline of 2.3%, remaining consistent with the previous month [3][19] - Renewable energy sources such as wind and solar power showed significant growth, with wind power increasing by 12.7% and solar power by 16.7% year-on-year [3][19][32] Investment Recommendations - Key recommended stocks include China Shenhua (H+A), China Coal Energy (H+A), and China Qinfa, among others [5][37] - The report emphasizes the importance of performance in stock selection, highlighting companies like Xinjie Energy and Shaanxi Coal and Chemical Industry [5][37]