Financial Performance - In the first half of 2024, the company achieved a total revenue of 7.07 billion yuan, representing a 32% increase compared to the same period last year [5] - The net profit attributable to shareholders was 1.209 billion yuan, up 14.90% year-on-year [5] - The weighted average return on equity was 8.63%, with earnings per share at 0.32 yuan [5] - As of June 30, 2024, total assets amounted to 33.053 billion yuan, with equity attributable to shareholders at 13.790 billion yuan [5] Production Output - The company produced a total of 4.316 million tons of various products in the first half of 2024, including: - Soda ash: 2.7194 million tons - Sodium bicarbonate: 668,200 tons - Urea: 840,200 tons - Other chemical products: 88,100 tons [4] Project Updates - The first phase of the Alashan natural soda project has all four production lines operational, with the first three lines reaching full production [5] - Approximately 1 billion yuan worth of construction projects remain uncompleted as of June 30, 2024 [5] - The second phase of the Alashan natural soda project is progressing as planned, with funding sourced from internal funds and project loans [5] Market Conditions - The average selling price of products from Mengda Mining was significantly lower than the market average due to a decline in coal prices and a high proportion of long-term contracts [6] - The coal supply for the Alashan natural soda project primarily comes from imports from Mongolia, supplemented by sources from Xinjiang and Gansu [6] Investor Relations - The company is currently awaiting a decision on the arbitration matter with China Coal Energy and will disclose updates as they arise [5] - There are no current plans for a high dividend payout similar to last year [6]

Investment Rating - The report maintains an "Outperform" rating for the company [3][10]. Core Insights - In the first half of 2024, the company's recurring net profit increased by 11.30% year-on-year, with operating income reaching 7.070 billion yuan, a 32% increase compared to the previous year [2][6]. - The Alashan project has secured water rights of 10 million cubic meters per year, which supports its production needs [8][9]. Financial Performance - For 2024H1, the company reported a net profit of 1.209 billion yuan, up 14.90% year-on-year, and a recurring net profit of 1.208 billion yuan, reflecting an 11.30% increase [6][10]. - In Q2 2024, the company achieved operating income of 3.789 billion yuan, a quarter-on-quarter increase of 15.50% and a year-on-year growth of 32.86% [6][10]. Product Segmentation - The company's self-produced soda ash generated operating income of 3.924 billion yuan, a significant increase of 115.03%, with a production volume of 2,719,400 tonnes [7]. - The self-produced baking soda had an operating income of 919 million yuan, with a gross profit margin of 52.79%, and a production volume of 668,200 tonnes [7]. - The self-produced urea reported an operating income of 1.696 billion yuan, down 20.32% year-on-year, with a production volume of 840,200 tonnes [7]. Resource and Technical Advantages - The company possesses significant natural alkali resources, including proven reserves of 193.08 million tonnes at the Anpeng alkali mine and 105.867 million tonnes at the Tamusu natural alkali mine, which is the largest proven natural alkali mine in China [9][10]. - The company utilizes advanced hydrothermal solution mining processes, ensuring environmentally friendly production with no waste liquid emissions [9]. Earnings Forecast - The company is expected to achieve net profits of 2.670 billion yuan, 3.041 billion yuan, and 3.624 billion yuan for the years 2024, 2025, and 2026 respectively [10]. - The target price is set at 8.64 yuan, based on a price-to-earnings ratio of 12 times for 2024 [10].

证 券 研 究 报 告 远兴能源（000683）2024 年中报点评 强推（维持） Q2 业绩符合预期，阿碱项目稳步放量 目标价：8.52 元 当前价：6.36 元 事项： ❖ 公司发布 24 年 中 报 ， 24Q2 实现营收 37.89 亿 元 ， 同 比 / 环 比 分 别 +32.86%/+15.50% ； 实 现 归 母 净 利 润 6.40 亿元，同比 / 环 比 分 别 +59.85%/+12.45% ； 实 现 扣 非 归 母 净 利 润 6.40 亿元，同比 / 环比分别 +48.07%/+12.68%，二季度业绩符合预期。 评论： ❖ 阿碱负荷稳步提升，增量利润逐步兑现。得益于银根矿业阿拉善塔木素天然碱 项目一期部分产线的稳定运行，公司碱化工产品产销两旺，营收及利润规模稳 步增长。24H1 公司生产纯碱 271.94 万吨，小苏打 66.82 万吨，尿素 84.02 万 吨，按照现有产能来看，则纯碱、小苏打、尿素上半年产能利用率分别实现约 80%、89%、87%。我们按照公司 23H1 纯碱产量 83.22 万吨、小苏打产量 55.48 万吨计，假设中源化学产品产量基本稳定，则 24H1 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][6]. Core Views - The company's Q2 performance met expectations, driven by the Alashan project, and the target price has been adjusted to 7.40 CNY from the previous 8.21 CNY [4][6]. - The company's revenue for H1 2024 reached 7.07 billion CNY, a year-on-year increase of 32.00%, while the net profit attributable to shareholders was 1.209 billion CNY, up 14.90% year-on-year [4]. - The report highlights strong domestic demand for soda ash, with H1 2024 apparent consumption in China reaching 18.17 million tons, a year-on-year increase of 28.49% [4]. Financial Summary - The company achieved total revenue of 10.987 billion CNY in 2022, with a projected increase to 16.206 billion CNY in 2024, reflecting a growth rate of 34.6% [5]. - The net profit attributable to shareholders is expected to rise from 2.660 billion CNY in 2022 to 2.509 billion CNY in 2024, indicating a growth of 78.0% [5]. - The earnings per share (EPS) is projected to be 0.67 CNY in 2024, down from the previous estimate of 0.75 CNY [4][5]. Market Data - The company's current stock price is 6.36 CNY, with a target price of 7.40 CNY, indicating potential upside [6][7]. - The total market capitalization is approximately 23.728 billion CNY [7]. Production Capacity and Growth - The Alashan natural soda ash project is expected to significantly contribute to the company's growth, with phase one planned for 5 million tons/year of soda ash and 400,000 tons/year of sodium bicarbonate [4]. - The report notes that the company is positioned for low-cost expansion due to its resource advantages, ensuring long-term growth prospects [4].

九届十四次监事会决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 证券代码：000683 证券简称：远兴能源 公告编号：2024-052 内蒙古远兴能源股份有限公司 2.审议通过《2024 年半年度报告及摘要》 经审核，监事会认为董事会编制和审议公司 2024 年半年度报告及摘要的程 序符合法律、行政法规及中国证监会的规定，报告内容真实、准确、完整地反映 了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 1.内蒙古远兴能源股份有限公司（以下简称公司）于 2024 年 7 月 19 日以书 面、传真或电子邮件方式向公司 3 名监事发出了关于召开九届十四次监事会会议 的通知。 2.会议于 2024 年 7 月 26 日在鄂尔多斯市东胜区鄂托克西街博源大厦 19 层 会议室以现场的方式召开。 3.本次监事会应到监事 3 名，实到监事 3 名，经全体监事一致同意，推举监 事邢占飞先生主持会议。 4.本次监事会会议的召开符合有关法律、行政法规、部门规章、规范性文件 和《公司章程》的规定。 二、监事会会议审议情况 经监事认真审 ...

合并资产负债表 | 编制单位合内内蒙古远兴能源股 | 公司 2024年06月30日 | | 单位:人民币元 | | --- | --- | --- | --- | | | 附注 | 2024年6月30日 | 2023年12月31日 | | 流动资产: | | | | | 货币资金1527 | 七、1 | 2, 222, 214, 955. 02 | 3, 568, 084, 918. 52 | | 交易性金融资 | | | | | 衍生金融资产 | | | | | 应收票据 | | | | | 应收账款 | 七、5 | 90, 212, 454. 35 | 59, 868, 632. 84 | | 应收款项融资 | 七、7 | 1, 358, 680, 961. 45 | 962, 519, 780. 79 | | 预付款项 | 七、9 | 141, 294, 827. 44 | 94, 537, 977. 92 | | 其他应收款 | 七、8 | 143, 963, 615. 61 | 204, 267, 831. 13 | | 存货 | 七、10 | 750, 588, 264. 10 | 534, 82 ...

法定代表人: 2024年半年度非经营性资金占用及其他关联资金往来情况汇总表 | | 上市公司名称:内蒙古远兴能源股份有限公司 | | | | | | 单位:万元 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 占用方与上市公司的关联 上市公司核算的会 非经营性资金占 资金占用方名 年初余额 | 2024年半年度往来累计 | 2024年半年度往来 | 2024年半年度信不 | | | | | | 关系 计科目 | 发生金额(不含利息) | 资金的利息 | Act Carper | 6月末余额 | 占用形成原因 | 占用性质 | | | CON 控股股东、实际控制人及其附属企业 | | | | | | 经营性占用 | | | 100 小计 - | | | | | | 经营性占用 | | - | - | - | | - | - | - | - | | | 前控股股东、实际控制人及其附属企业 10101 188 | | | | | | 非经营性占用 非经营性占用 | | | 小计 l l - | - | - | ﻟ | l | - | - | | - | ...

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 7,069,548,621.66, representing a 32.00% increase compared to CNY 5,355,609,057.05 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was CNY 1,209,042,084.51, an increase of 14.90% from CNY 1,052,232,169.89 year-on-year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,208,437,877.66, up 11.30% from CNY 1,085,742,590.58 in the previous year[11]. - The net cash flow from operating activities was CNY 1,361,190,244.90, reflecting a 7.23% increase from CNY 1,269,404,502.10 in the same period last year[11]. - Basic earnings per share were CNY 0.32, a 10.34% increase compared to CNY 0.29 in the previous year[11]. - The total comprehensive income for the first half of 2024 was CNY 1,859,673,265.41, compared to CNY 1,276,192,987.77 in the first half of 2023, reflecting a growth of 45.6%[133]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 33,053,159,781.95, a decrease of 3.05% from CNY 34,093,963,601.75 at the end of the previous year[11]. - The total liabilities decreased slightly, with short-term borrowings at CNY 2,355,000,375.42, a 0.10% decrease from the previous year[33]. - The company's total liabilities increased to CNY 5,196,483,882.92 in the first half of 2024, compared to CNY 5,075,737,519.58 in the first half of 2023[132]. - Owner's equity increased to CNY 18,766,972,022.20 from CNY 17,930,984,636.68, showing an increase of 4.66%[127]. Production and Market Performance - In the first half of 2024, the company produced a total of 4.316 million tons of various products, including 2.7194 million tons of soda ash, 668,200 tons of sodium bicarbonate, and 840,200 tons of urea[16]. - The domestic soda ash industry saw a production increase of 20.3% year-on-year in the first half of 2024, with a total output of 19.149 million tons[17]. - The company expects continued growth in the soda ash and urea markets in the second half of 2024, driven by new production capacity and stable demand from agriculture and industry[19]. Research and Development - Research and development expenses rose by 33.96% to ¥85,663,534.24, indicating increased investment in innovation[28]. - The company is investing 200 million CNY in research and development for new technologies aimed at enhancing operational efficiency[75]. Environmental Compliance - The company adheres to multiple environmental protection laws and standards, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[54]. - The total emissions for particulate matter from the company’s plants were reported as 18.84 tons/year, SO2 at 65.93 tons/year, and NOX at 94.19 tons/year, all within the permitted limits[58]. - The company has implemented comprehensive waste management practices, including the recycling of solid waste and the proper disposal of hazardous waste[61]. Strategic Plans and Commitments - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[2]. - The management discussed potential risks and countermeasures in the future operations, highlighting the importance of investor awareness regarding these risks[2]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million CNY allocated for potential deals[75]. Shareholder Information - The company held three shareholder meetings during the reporting period, with participation rates around 38% to 39%[48]. - The company plans to repurchase and cancel 9.406 million restricted stocks, accounting for 0.25% of the total share capital due to changes in the status of 19 incentive targets[52]. - The largest shareholder, Inner Mongolia Boyuan Holdings Group Co., Ltd., holds 30.09% of the shares, totaling 1,122,491,995 shares[114]. Legal and Arbitration Matters - The company is currently involved in arbitration regarding a capital increase and share expansion agreement dispute, with a claim amount of CNY 233,102.46 million[82]. - The company reported a litigation amount of 11,385.5 thousand yuan related to a contract dispute with Kaifeng Air Separation Group, which has not yet gone to trial[83]. Financial Strategy and Management - The company has a structured approach to managing its financial guarantees, ensuring full coverage for its obligations[97]. - The company has committed to maintaining financial independence and transparency in all related party transactions[75]. - The company will utilize public bidding or market pricing for raw material procurement and product sales to protect shareholder interests[76].

内蒙古远兴能源股份有限公司 九届十四次董事会决议公告 证券代码：000683 证券简称：远兴能源 公告编号：2024-051 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1.内蒙古远兴能源股份有限公司（以下简称公司）于 2024 年 7 月 19 日以书 面、传真或电子邮件方式向公司 9 名董事发出了关于召开九届十四次董事会会议 的通知。 2.会议于 2024 年 7 月 26 日在鄂尔多斯市东胜区鄂托克西街博源大厦 19 层 会议室以现场的方式召开。 3.本次董事会应到董事 9 名，实到董事 9 名，其中参加现场会议的董事为宋 为兔、孙朝晖、戴继锋、纪玉虎、张世潮、董敏、李要合，通过视频参加会议的 董事为刘宝龙、李永忠。会议由公司董事长宋为兔先生主持，公司监事、部分高 管人员列席了本次会议。 4.本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性文件 和《公司章程》的规定。 二、董事会会议审议情况 经董事认真审议并表决，通过以下决议： 1.审议通过《2024 年半年度报告及摘要》 表决结果：9 票同意，0 票反对，0 票 ...

北京市鼎业律师事务所 关于内蒙古远兴能源股份有限公司 2024 年第三次临时股东大会的 法律意见 鼎业证字[2024]YX004 号 北京市鼎业律师事务所 BEIJING DINGYE LAW FIRM 中国北京市海淀区人大北路33号大行基业大厦16层 电 话：86-010-82685026 传 真：86-010-82684574 邮 编：100080 内蒙古远兴能源股份有限公司： 北京市鼎业律师事务所（以下简称"本所"）接受内蒙古远兴能源股份有限 公司（以下简称"公司"或"贵公司"）的委托，指派本所律师出席贵公司 2024 年第三次临时股东大会（以下简称"本次股东大会"），就本次股东大会会议的 召集与召开程序、召集人资格、出席会议人员资格、会议表决程序及表决结果等 事宜，出具法律意见。 为出具本法律意见书之目的，贵公司向本所律师提供了与本次股东大会召开 事宜有关的文件、资料。贵公司承诺向本所律师提供的文件及所作的陈述和说明 是完整的、真实的和有效的，有关原件及其上面的签字和印章是真实的，且一切 足以影响本法律意见书的事实和文件均已向本所披露，无任何隐瞒、疏漏之处。 本所律师根据《中华人民共和国公司法》（以下 ...