| 证券代码：000552 | 证券简称：甘肃能化 | 公告编号：2025-72 | | --- | --- | --- | | 债券代码：127027 | 债券简称：能化转债 | | 甘肃能化股份有限公司 第十一届董事会第五次会议决议公告 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。 一、会议召开情况 甘肃能化股份有限公司（以下简称"公司"）第十一届董事会第五次会议于2025 年9月24日十点半在兰州市七里河区瓜州路1230号甘肃能化19楼会议室以现场和通讯 相结合的方式召开。本次会议通知于2025年9月16日以OA、微信、电话、电子邮件等 方式送达全体董事。本次现场会议由董事长谢晓锋主持，会议应参加董事9人，实际 参加表决董事9人。本次会议的召开符合《公司法》《公司章程》等法律法规、部门 规章和规范性文件的规定。 经与会董事审议，会议通过了以下决议： 1.关于聘任公司财务总监的议案； 表决结果：9票同意，0票反对，0票弃权。 根据公司实际需要，聘任张安国先生为公司财务总监，任期与本届董事会相同， 至 2028 年 6 月 19 日。（简历附后） ...

每经AI快讯，9月25日，甘肃能化（000552）(000552.SZ)公告称，为缓解矿井资源枯竭压力，保证矿井 正常接续和持续稳产，改善和优化井下生产系统，拟由全资子公司窑煤公司投资并实施三矿改建项目， 项目设计产能为1.80Mt/a，项目建设总造价为13.29亿元。 ...

甘肃能化公告，公司收购关联方甘肃能源化工贸易有限公司所持甘肃能化煤炭储运有限公司100%股 权，收购价格为1.02亿元。储运公司主要从事煤炭储运和供应业务，其100万吨储配煤基地已部分建成 并具备运行能力。本次收购旨在提升公司煤炭储运和供应能力，贯通煤电化产业链，解决同业竞争问 题。交易完成后，储运公司将成为公司的全资子公司。 ...

Core Insights - The report emphasizes the potential awakening of the coal sector, suggesting that after a challenging period, coal prices are expected to rise towards the end of the year, providing upward momentum for the sector [2]. Industry Performance - As of September 19, 2025, the coal industry has seen a decline of 2.3% year-to-date, ranking last among 30 industries. However, in the week of September 19, it experienced a weekly increase of 3.6%, ranking second among the industries, indicating a significant contrast in performance [2]. - The report predicts that the coal price will stabilize and potentially reach a peak by the end of the year, which could drive further positive performance in the coal sector [2]. Company Focus - The report highlights several companies to watch within the coal sector: - **Keda Control**: Noted for its focus on smart mining [2]. - **China Coal Energy (H+A)** and **China Shenhua (H+A)**: Major state-owned enterprises in the coal industry [2]. - **China Qinfa**: Recommended for its turnaround potential [2]. - **Shanxi Coal and Electricity, Huainan Mining, and Xinji Energy**: Identified as strong performers [2]. - **Yankuang Energy, Jinkong Coal, and Pingmei Shenma**: Noted for their elasticity and potential for growth [2]. - **Huayang Co. and Gansu Energy**: Suggested as companies with future growth potential [2]. - **Anyuan Coal Industry**: Highlighted for its recent changes in control and ongoing asset restructuring [2].

Investment Rating - The report maintains a "Recommended" rating for the coal industry, indicating a positive outlook for the sector's fundamentals and expected performance relative to the market index [4]. Core Insights - The report highlights that coal prices have rebounded due to non-electric demand and winter stockpiling, with significant price increases observed in various coal indices as of September 19, 2025 [10][11]. - The report notes a slight recovery in the coking coal market, driven by pre-holiday stockpiling by downstream steel companies, although further price increases may be limited [10]. - The overall sentiment in the coal market remains strong, with expectations of continued price strength in the short term, despite potential constraints from rising prices affecting purchasing enthusiasm [10]. Summary by Sections 1. Investment View - As of September 19, 2025, the price indices for various coal types have shown significant weekly increases, with the Yulin 5800 index at 598.0 CNY/ton (+44.0 CNY), the Ordos 5500 index at 521.0 CNY/ton (+19.0 CNY), and the Datong 5500 index at 576.0 CNY/ton (+21.0 CNY) [10]. - The coking coal market has stabilized, with prices for major coking coal indices also showing increases, such as the Shanxi main coking coal at 1610 CNY/ton (+60 CNY) [10]. 2. Coal Sector Performance and Stock Review - The coal mining index increased by 3.77% while the broader Shanghai and Shenzhen 300 index decreased by 0.44%, indicating a relative outperformance of coal stocks [11]. - Major coal companies have shown varied performance, with significant gains for companies like Yongtai Energy (+13.42%) and Luan Environmental Energy (+13.04%) [11]. 3. Key Company Valuations - The report provides detailed valuations for key coal companies, including China Shenhua (total market value: 755.35 billion CNY, PE: 12.9), Shaanxi Coal (total market value: 200.88 billion CNY, PE: 9.0), and others, indicating a range of valuations and expected profitability [42].

Investment Rating - The investment rating for the coal mining industry is "Positive" [2] Core Viewpoints - The report indicates that the coal economy is at the beginning of a new upward cycle, with a resonance between fundamentals and policies, making it an opportune time to invest in the coal sector [3][13] - The report highlights that coal prices have shown signs of stabilization, and there is an expectation for price increases due to seasonal demand and supply constraints [5][13] - The report emphasizes the continued investment logic of coal capacity shortages, with a short-term balance and a long-term gap in supply [13][14] Summary by Sections Coal Price Tracking - As of September 19, the market price for Qinhuangdao port thermal coal (Q5500) is 699 CNY/ton, an increase of 21 CNY/ton week-on-week [4][31] - The price for coking coal at Jingtang port is 1610 CNY/ton, up 60 CNY/ton week-on-week [4][33] - International thermal coal prices have also seen fluctuations, with Newcastle thermal coal at 69.6 USD/ton, a week-on-week increase of 0.4 USD/ton [4][31] Supply and Demand Tracking - The capacity utilization rate for sample thermal coal mines is 91.7%, an increase of 2.4 percentage points week-on-week [4][48] - Daily coal consumption in inland provinces has increased by 4.10 thousand tons/day (+1.22%) [5][13] - The report notes that the supply side is still constrained by policies, and the demand is expected to rise as winter heating needs begin [5][13] Industry Performance - The coal sector has shown a weekly increase of 3.59%, outperforming the broader market [16] - The report identifies key companies to focus on, including China Shenhua, Shaanxi Coal, and others, highlighting their stable operations and strong performance [14][16]

格隆汇9月15日丨甘肃能化(000552.SZ)公布，收到甘肃省能源局《煤矿建设项目竣工验收备案回执》， 靖煤集团景泰煤业有限公司（简称"景泰煤业"）白岩子矿井及选煤厂已完成单项工程质量认证和消防设 施、水土保持设施、职业病防护设施、环境保护设施、安全设施等方面专项验收，并通过项目综合竣工 验收。景泰煤业为公司下属控股子公司，主要负责白岩子煤矿及洗煤厂项目建设，矿井设计生产能力90 万吨/年,根据详查报告，矿井煤炭资源量9075.8万吨（气煤资源量为4736.3万吨；1/3焦煤资源量为 4339.5万吨）。 ...

公告显示，景泰煤业为公司下属控股子公司，主要负责白岩子煤矿及洗煤厂项目建设，矿井设计生产能 力90万吨/年,根据详查报告，矿井煤炭资源量9075.8万吨(气煤资源量为4736.3万吨;1/3焦煤资源量为 4339.5万吨)。 甘肃能化（000552）(000552.SZ)公告，公司收到甘肃省能源局《煤矿建设项目竣工验收备案回执》， 靖煤集团景泰煤业有限公司(简称"景泰煤业")白岩子矿井及选煤厂已完成单项工程质量认证和消防设 施、水土保持设施、职业病防护设施、环境保护设施、安全设施等方面专项验收，并通过项目综合竣工 验收。 ...

Core Viewpoint - Gansu Energy Chemical (000552.SZ) has received the completion acceptance record from the Gansu Provincial Energy Bureau for its subsidiary, Jingtai Coal Industry Co., Ltd., indicating successful completion of various project certifications and acceptance [1] Company Summary - Jingtai Coal Industry is a subsidiary of Gansu Energy Chemical, responsible for the construction of the Baiyanzi coal mine and washing plant project [1] - The designed production capacity of the Baiyanzi coal mine is 900,000 tons per year [1] - The coal resource amount of the mine is reported to be 90.758 million tons, including 47.363 million tons of gas coal and 43.395 million tons of coking coal [1]

甘肃能化公告，近日，收到甘肃省能源局《煤矿建设项目竣工验收备案回执》，靖煤集团景泰煤业有限 公司白岩子矿井及选煤厂已完成单项工程质量认证和消防设施、水土保持设施、职业病防护设施、环境 保护设施、安全设施等方面专项验收，并通过项目综合竣工验收。景泰煤业为公司下属控股子公司，主 要负责白岩子煤矿及洗煤厂项目建设，矿井设计生产能力90万吨/年，根据详查报告，矿井煤炭资源量 9075.8万吨（气煤资源量为4736.3万吨；1/3焦煤资源量为4339.5万吨）。 ...