| 证券代码:000723 | | --- | | 债券代码:127061 | 证券代码：000723 证券简称：美锦能源 公告编号：2026-014 债券代码：127061 债券简称：美锦转债 山西美锦能源股份有限公司 关于共同发起设立股权投资基金的进展公告 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。 风险提示： 1、本次对外投资的产业基金筹备过程中存在可能因合伙人未能缴足认缴资 金等原因，导致基金未能足额募集的风险，实际募集及各方缴付出资情况存在不 确定性。 2、投资基金具有投资周期长、流动性较低等特点，公司作为基金的有限合 伙人承担的风险敞口以投资额为限，本次投资无保本及最低收益的承诺。本次投 资基金在投资过程中将受行业周期、监管政策、宏观经济、投资标的经营管理等 多种因素的影响，可能出现无法实现预期收益、出现亏损或不能及时有效退出风 险。 一、基本情况 山西美锦能源股份有限公司（以下简称"公司"）与宁波联创永浚私募基金 管理有限公司、宁波市商毅软件有限公司、上海佳妮佳瑞企业管理咨询合伙企业 （有限合伙）、厉冉、重庆宗申投资有限公司、嘉兴东裕投资有限 ...

Group 1 - The coal ETF (515220) increased by 1.45% to 1.186 yuan, with a trading volume of 312 million yuan as of the midday close [1] - Major holdings in the coal ETF include China Shenhua (+0.29%), Shaanxi Coal (+0.60%), Yanzhou Coal (+1.53%), China Coal (+3.29%), Shanxi Coking Coal (+1.12%), Huayang Co. (+1.55%), Meijin Energy (+2.99%), Lu'an Environmental Energy (+2.61%), Huaibei Mining (+0.52%), and Pingmei Shenma (+0.92%) [1] - The coal ETF's performance benchmark is the CSI Coal Index return, managed by Guotai Fund Management Co., with a return of 173.17% since its inception on January 20, 2020, and a return of 6.21% over the past month [1]

Group 1 - The core point of the article is that Meijin Energy (000723) has reported its shareholder count as of September 30, 2025, which is 233,951 households [1] Group 2 - The company indicated that the latest shareholder count should be confirmed through its subsequent periodic reports [1]

Core Viewpoint - A new energy storage technology company, Inner Mongolia Huijin Energy Storage Technology Co., Ltd., has been established with a registered capital of 20 million yuan, focusing on energy storage and renewable energy services [1] Group 1: Company Overview - The newly formed company is a joint venture involving Meijin Energy's wholly-owned subsidiary, Inner Mongolia Meijin New Energy Co., Ltd. [1] - The company's business scope includes energy storage technology services, solar power generation technology services, power generation technology services, and wind power generation technology services [1]

Core Viewpoint - Meijin Energy (000723.SZ) is currently not involved in coal-to-olefins and food-related businesses, focusing instead on leveraging existing resources and industry foundations for collaborative development along the industrial chain [1] Group 1 - The company is continuously promoting industrial chain synergy based on its existing resource endowments and industrial foundation [1] - Meijin Energy is cautiously researching relevant extension directions in line with national industrial policies and industry development trends [1]

Group 1 - The coal ETF (515220) experienced a decline of 1.12%, closing at 1.151 yuan with a trading volume of 303 million yuan [1] - Major holdings in the coal ETF showed mixed performance, with China Shenhua down 2.42%, Shaanxi Coal and Chemical Industry down 2.44%, and Yanzhou Coal Mining down 0.80%, while Shanxi Coking Coal increased by 0.28% [1] - The coal ETF's performance benchmark is the CSI Coal Index return, managed by Guotai Asset Management, with a return of 172.28% since its inception on January 20, 2020, and a return of 6.49% over the past month [1]

Core Viewpoint - Meijin Energy is actively working on its H-share listing while adhering to regulatory rules and considering its operational status, capital market environment, and overall strategy [2] Group 1 - The company has stated that any updates regarding the H-share listing should be based on the announcements already disclosed [2] - Meijin Energy emphasizes its commitment to strictly follow legal and regulatory obligations for information disclosure [2] - Investors are encouraged to monitor the company's future announcements for further developments [2]

Core Viewpoint - Meijin Energy (000723) confirmed that its production operations and information disclosure are normal, and it does not face any delisting risks according to relevant laws and regulations [1] Group 1 - The company is committed to strictly adhering to regulatory requirements for information disclosure [1]

Group 1 - The coal sector experienced a significant upward movement on February 9, with notable stocks such as New Dazhou A hitting the daily limit, while others like Baotailong, Zhengzhou Coal Electricity, Meijin Energy, Liaoning Energy, and Huadian Energy also saw gains [2]

Core Insights - In 2025, nearly 80% of listed coal companies in China will independently publish annual ESG reports, achieving a record high disclosure rate, which is a 21% increase compared to 2024 [1] - Despite a global cooling trend in ESG development, Chinese coal enterprises are enhancing their ESG information disclosure as part of their ongoing transformation efforts, aligning with the ESG principles [1] - The significant increase in disclosure rates indicates that ESG concepts have taken root in the coal industry and are becoming an internal driving force for corporate transformation and upgrading [1] ESG Ratings Improvement - The importance of ESG principles is growing for coal companies, with key areas of focus including green mining and clean coal utilization for sustainable development [2] - According to Wind ESG rating data, the proportion of AA-rated companies in the coal sector increased from 2.9% in 2024 to 4.55% in 2025, while A-rated companies rose from 2.9% to 11.36%, and BBB-rated companies increased from 11.8% to 38.64% [2] - The Wind ESG rating system categorizes companies from AAA to CCC, reflecting their long-term sustainability and short-term risk profiles [2] Company-Specific ESG Ratings - China Shenhua (601088) maintains an AA rating, indicating high management standards and low ESG risks, while several other companies like China Coal Energy (601898) and Jinneng Holding (000723) received A ratings [3] - A total of 17 coal companies received BBB ratings, indicating average ESG risk levels, while 20 companies were rated BB or B, suggesting a need for improvement in sustainability capabilities [3] Industry Diversification Trends - A key characteristic of A-rated coal companies is their diversified operations, transitioning from traditional coal dominance to comprehensive energy suppliers [4] - China Coal's social responsibility report highlights its expansion into coal, electricity, coal chemical, and mining equipment manufacturing, alongside initiatives in renewable energy [4] - In 2025, coal consumption in China is projected to decline for the first time in recent years, with only the coal chemical sector showing moderate growth [4] Joint Ventures and Unique Entities - Notable joint ventures like Jinneng Holding and South Gobi are recognized for their unique positioning in the market, combining resources and logistics capabilities [5] Guidance for Transformation - ESG serves as a strategic indicator for coal companies, providing insights into their transformation during challenging times [7] - Companies like Anyuan Coal Industry, despite facing losses, are actively enhancing their ESG disclosures and transitioning to technology-focused enterprises [7] - Meijin Energy, despite losses, maintains a leading ESG score, emphasizing the long-term potential of hydrogen energy transition over short-term financial setbacks [7] Future Directions - As coal production capacity shifts to central and western regions, coal companies will face increasing pressure for transformation, necessitating exploration of resource continuity and new development strategies [8] - Companies are accelerating their investments in advanced computing, high-end materials, and modern finance, marking a shift towards new growth areas while adhering to ESG principles [8]