| 证券代码：000723 | 证券简称：美锦能源 | 公告编号：2025-096 | | --- | --- | --- | | 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2025年半年度募集资金存放与实际使用情况的专项报告 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。 一、募集资金基本情况 根据中国证券监督管理委员会《关于核准山西美锦能源股份有限公司公开发 行可转换公司债券的批复》（证监许可〔2022〕374 号），核准山西美锦能源股 份有限公司（以下简称"公司"或"本公司"）公开发行可转换公司债券 35,900,000 张 ， 每 张 面 值 为 人 民 币 100.00 元 ， 按 面 值 发 行 ， 发 行 总 额 为 人 民 币 3,590,000,000.00 元。 本公司本次发行的募集资金总额为 3,590,000,000.00 元，扣除保荐及承销 费 31,896,226.42 元（不含税）后（其中：471,698.11 元（不含税）的保荐费， 本公司已于前期预付至中信建投证券股份有限公司指定账户 ...

山西美锦能源股份有限公司 2025 年半年度财务报告 山西美锦能源股份有限公司 2025 年半年度财务报告 2025 年 08 月 1 山西美锦能源股份有限公司 2025 年半年度财务报告 财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：山西美锦能源股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 4,704,924,372.15 | 4,735,642,928.52 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 1,206,995.30 | 188,405.91 | | 衍生金融资产 | | | | 应收票据 | | 5,940,000.00 | | 应收账款 | 1,493,000,444.68 | 1,430,632,024.48 | | 应收款项融资 | 407,667,942.49 | 357,098,002.97 | ...

| 证券代码：000723 | 证券简称：美锦能源 | 公告编号：2025-097 | | --- | --- | --- | | 债券代码：127061 | 债券简称：美锦转债 | | 3、本次财务资助是在不影响公司正常经营的情况下实施，不存在损害公司 及股东特别是中小股东利益的情形。公司将密切关注被资助对象的经营状况、财 务状况及偿债能力，加强资金使用监管，积极防范风险。请广大投资者理性投资， 注意投资风险。 山西美锦能源股份有限公司 关于公司及子公司向参股公司提供财务资助的公告 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。 重要内容提示： 1、山西美锦能源股份有限公司（以下简称"公司"或"本公司"）拟向参 股公司贵州金兰盛锦新材料有限公司（以下简称"金兰盛锦"）提供1,000万元 的财务资助，期限不超过4年，年利率5.5%。 公司全资子公司山西美锦华盛化工新材料有限公司（以下简称"华盛化工"） 拟对参股公司山西泓创物流有限公司（以下简称"泓创物流"）提供的部分财务 资助进行展期，展期额度为3,353万元，展期期限为三年，展期年利率为3%。 2、公司于2 ...

债券代码：127061 债券简称：美锦转债 证券代码：000723 证券简称：美锦能源 公告编号：2025-098 山西美锦能源股份有限公司 关于召开2025年第二次临时股东会的通知 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、召开会议基本情况 1、会议届次：2025 年第二次临时股东会 2、召集人：山西美锦能源股份有限公司（以下简称"公司"）董事会 通过互联网投票系统投票的时间为：2025 年 9 月 17 日 9:15—15:00。 5、召开方式：现场投票与网络投票相结合的方式 6、股权登记日：2025 年 9 月 10 日 7、会议出席对象： （1）在股权登记日持有公司股份的普通股股东或其代理人。 3、会议召开的合法、合规性：经公司十届四十一次董事会会议审议通过， 董事会决定召开 2025 年第二次临时股东会。本次股东会的召开符合《中华人民 共和国公司法》《深圳证券交易所股票上市规则》等有关法律法规及《公司章程》 的规定。 4、会议召开日期和时间： （1）现场会议召开时间：2025 年 9 月 17 日（星期三）15：00； （2）网络投票时间： ...

1、公司2025年半年度报告的编制和审议程序符合法律、行政法规和中国证 监会的规定； 山西美锦能源股份有限公司监事会 2、公司2025年半年度报告的内容和格式符合中国证监会和深交所的各项规 定，所包含的信息能真实、准确、完整地反映出公司2025年半年度的经营管理和 财务状况等事项； 关于十届十六次监事会会议相关事项的审核意见 3、在公司监事会提出本意见前，未发现参与2025年半年度报告编制和审议 的人员有违反保密规定的行为。 根据《中华人民共和国公司法》《深圳证券交易所股票上市规则》《深圳证 券交易所上市公司自律监管指引第1号——主板上市公司规范运作》及《公司章 程》《监事会议事规则》等有关规定，我们作为山西美锦能源股份有限公司（以 下简称"公司"）的监事，本着审慎原则，基于独立判断的立场，现就公司十届 十六次监事会会议的相关事项发表如下意见： 一、关于 2025 年半年度报告的审核意见 山西美锦能源股份有限公司监事会 2025年8月20日 ...

债券代码：127061 债券简称：美锦转债 证券代码：000723 证券简称：美锦能源 公告编号：2025-093 山西美锦能源股份有限公司 表决结果：同意9票，反对0票，弃权0票。 2、审议并通过《关于2025年半年度募集资金存放与实际使用情况的专项报 告》 一、召开会议基本情况 山西美锦能源股份有限公司（以下简称"公司"）十届四十一次董事会会议 通知于2025年8月10日以通讯形式发出，会议于2025年8月20日以通讯形式召开。 本次会议应参加表决董事9人，包括3名独立董事，实际参加表决董事9人。会议 由董事长姚锦龙先生主持，公司监事及高管人员列席了本次会议。会议的召开和 表决程序符合《中华人民共和国公司法》《中华人民共和国证券法》及《公司章 程》的有关规定。经与会董事审议，一致通过如下议案。 二、会议审议事项 1、审议并通过《2025年半年度报告》及其摘要 相关内容详见《2025年半年度报告》及其摘要。 本议案已经董事会审计委员会审议通过。 十届四十一次董事会会议决议公告 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。 3、审议并通过《关于向参股公司金兰 ...

Financial Performance - The company's operating revenue for the first half of 2025 was ¥8,245,118,774.30, representing a decrease of 6.46% compared to the same period last year[20]. - The net profit attributable to shareholders was a loss of ¥674,081,252.50, showing a slight improvement of 1.29% from the previous year's loss[20]. - The net cash flow from operating activities increased significantly by 135.67%, reaching ¥843,520,024.96[20]. - The total assets at the end of the reporting period were ¥44,741,791,802.13, a decrease of 0.67% from the end of the previous year[20]. - The net assets attributable to shareholders decreased by 5.08%, amounting to ¥13,716,725,258.74[20]. - The basic earnings per share improved to -¥0.15, a 6.25% increase from -¥0.16 in the previous year[20]. - The company's total revenue for the reporting period was ¥8,245,118,774.30, representing a decrease of 6.46% compared to the previous year[44]. - The operating cost decreased by 7.37% to ¥8,088,608,032.77, contributing to improved cash flow from operating activities, which increased by 135.67% to ¥843,520,024.96[44][45]. - The company reported a significant decrease in other receivables to ¥147,345,456.26, primarily due to margin deposits[57]. - The company reported a net cash outflow from investing activities of ¥1,272,196,923.83, a 23.43% improvement from the previous year[45]. Investment and Development - The company has made adjustments to its accounting policies in accordance with new regulations effective from January 1, 2024[20]. - The company is committed to high-quality development and technological innovation, aligning with national carbon reduction goals[29]. - The company aims to increase its R&D investment and expand market application scenarios to enhance its core competitiveness in the hydrogen energy industry[38]. - The company has invested a total of 2,988 million yuan in a hydrogen fuel cell power system project, achieving a progress rate of 48.00%[62]. - The cumulative investment in the hydrogen energy technology research and development project is 6,094 million yuan, with a progress rate of 64.00%[62]. - The company plans to expand its investment in artificial intelligence through a dedicated thematic investment fund[61]. - The company is focusing on new product development, with an investment of 1.33 million in innovative technologies[106]. - The company plans to allocate 7.2 million for capital reserves in the current period[197]. - The company has allocated 15.82 million for new product development and technology research initiatives[200]. Market and Strategic Initiatives - The company is actively exploring the hydrogen energy industry, focusing on the integration of green hydrogen production and renewable energy solutions[32]. - The company has established a comprehensive strategic partnership with Guoqing Technology to promote 10,000 hydrogen fuel cell commercial vehicles nationwide, enhancing the scale application of hydrogen energy vehicles[34]. - The company is focusing on expanding its market presence in Asia, aiming for a 15% increase in market share by the end of the fiscal year[197]. - The company is exploring market expansion opportunities in the non-residential real estate leasing sector[60]. - The company is focusing on cash transactions for its services, ensuring liquidity and operational efficiency[107]. - The company is exploring potential mergers and acquisitions to strengthen its market position by 2025[107]. - The company plans to enhance supply chain management and diversify material suppliers to mitigate market risks associated with coal prices[83]. - The company is focusing on improving production efficiency and reducing fixed costs through technological upgrades and process improvements[83]. - The company is exploring joint ventures in technology services, aiming for a revenue target of 5.73 million in 2025[105]. Risk Management and Compliance - The company has faced risks as detailed in the report, which investors should be aware of[5]. - Environmental protection measures are being strengthened to comply with stricter regulations, which may impact financial performance[84]. - The company is exploring hedging strategies to stabilize raw material prices amid market volatility[83]. - The company has emphasized strict internal controls and risk management measures for derivative investments[66]. - The company has complied with the required rectifications as mandated by the authorities[102]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has scheduled its first temporary shareholders' meeting for 2025, indicating ongoing corporate governance activities[14]. - The company is expected to report on daily related party transactions for 2024, reflecting its operational transparency[15]. - The company has authorized the use of idle funds for cash management to enhance the efficiency of fund usage and management[71]. - The company is in the process of issuing shares to acquire significant assets, with updates expected in early 2025[10]. - The company is preparing for a significant asset restructuring and related party transactions, with further announcements to follow[10]. Legal and Regulatory Matters - The company is involved in a lawsuit with a claim amount of 450 million yuan, seeking compensation for losses related to coal production indicators[101]. - As of the reporting period, the total amount of other lawsuits against the company is 423.17 million yuan[101]. - The company and its subsidiaries have been fined a total of 7.83 million yuan by relevant authorities[102]. - The company has not encountered any unauthorized changes in the use of raised funds or violations regarding the use of raised funds[73]. Future Outlook - The company provided a future outlook with a revenue guidance of 2.3 billion for the next quarter, indicating a growth of 6.3%[194]. - The company has set a future revenue guidance of 5.8 billion for the next quarter, representing a projected growth of 10%[196]. - The company is expected to trigger a downward adjustment in the conversion price of its convertible bonds, which may impact future financing strategies[46]. - The company has announced plans to use idle funds for cash management, optimizing financial resources[105].

美锦能源公告，2025年上半年营业收入82.45亿元，同比下降6.46%。归属于上市公司股东的净亏损6.74 亿元，上年同期净亏损6.83亿元。公司计划不派发现金红利，不送红股，不以公积金转增股本。 ...

Core Viewpoint - Shanxi Meijin Energy Co., Ltd. is planning to issue H-shares and list on the Hong Kong Stock Exchange, which would make it the first "A+H" share company in Shanxi province if successful [1][2] Group 1: Company Overview - Meijin Energy is one of the largest independent coking enterprises in China, with a full industrial chain layout of "coal-coke-gas-chemical" after a significant restructuring in 2015 [2] - The company currently has a coking capacity of 8.95 million tons per year and coal production capacity of 6.3 million tons per year [2] Group 2: Financial Performance - Meijin Energy's revenue and net profit have shown significant fluctuations over the past six years, with a peak revenue of 246 billion in 2022 and a net profit of 25.41 billion in 2021 [4][5] - In 2023, the company reported a net profit drop of 86.92% to 2.89 billion, and it is expected to incur a loss of 11.43 billion in 2024 [4][6] Group 3: Market Challenges - The company faces declining market prices for coal and coke, which have negatively impacted its revenue and profit margins [6][12] - The gross profit margin for its coal-coke business dropped to 7.16% in 2024, a decrease of 4.93% year-on-year [6] Group 4: Debt and Financial Risks - Meijin Energy's total liabilities have increased significantly, reaching 288.32 billion in 2024, with an asset-liability ratio of 64.01% [9][10] - The company has guaranteed 77.67 billion for its subsidiaries, which is 53.75% of its net assets, raising concerns about financial stability [11] Group 5: Strategic Initiatives - The company is exploring hydrogen energy as a new growth area, having invested heavily in technology development and project construction since 2017 [12][13] - However, the hydrogen energy business currently contributes only 4.16% to total revenue, indicating challenges in achieving scale and profitability [13] Group 6: Management and Ownership - The controlling shareholder, Meijin Energy Group, is led by the influential Yao Junliang family, which has seen a significant decrease in wealth from 329 billion in 2022 to 76 billion in 2024 [17] - The family maintains strong control over the company's management, with multiple family members in key positions [17] Group 7: Listing Uncertainties - The path to listing in Hong Kong is uncertain due to ongoing losses, high debt levels, and significant share pledges by the controlling shareholder [19]

Group 1: Investment and Project Approvals - A hydrogen and ammonia integration project in Inner Mongolia has been approved with a total investment of 13.18 billion yuan, which includes facilities for hydrogen production and storage, as well as ammonia synthesis [1][2] - The project will feature 442,000 Nm³ of electrolytic water hydrogen production and 3x45 tons/year of ammonia synthesis, along with supporting infrastructure [2] Group 2: Hydrogen Infrastructure Development - Chongqing plans to build 30 new hydrogen stations by 2035, aiming for a daily hydrogen supply capacity of over 70 tons, which will support approximately 4,000 hydrogen fuel cell vehicles [3][4] - The city aims to establish a comprehensive hydrogen infrastructure system to facilitate the large-scale application of hydrogen fuel cell vehicles and promote high-quality development of the hydrogen energy industry [3] Group 3: Industry Standards and Collaborations - Beijing is set to issue a hydrogen energy industry standard system and improve local standards in key areas such as photovoltaic power generation [4] - A procurement contract worth over 150 million yuan has been signed between Hami Tonghuide and Guofu Hydrogen Energy for green hydrogen equipment, marking a significant step in the large-scale application of electrolysis technology in the northwest [5] Group 4: Market Developments and Partnerships - 30 companies have been preliminarily selected for funding support in Zhengzhou's fuel cell vehicle demonstration application program for 2024 [6] - A strategic cooperation agreement has been signed between Dream Sky Technology and Hydrogen Aviation Technology to develop next-generation hydrogen hybrid power technology for eVTOL aircraft [8] Group 5: Industry Performance Metrics - In the first seven months of the year, China's fuel cell vehicle production and sales reached 1,593 and 1,657 units, respectively, reflecting a year-on-year decline of 54.5% and 50.7% [9]