证券代码：000933 证券简称：神火股份 公告编号：2025-028 河南神火煤电股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监 管指引第 9 号—回购股份》等有关规定，公司应当在首次回购股份事 实发生的次一交易日予以公告。现将公司首次回购股份情况公告如下： 一、首次回购公司股份的情况 2025 年 4 月 8 日，公司首次通过股票回购专用证券账户以集中竞 价交易方式回购公司股份 838,100 股，占公司目前总股本的 0.037%； 其中，最高成交价为 16.15 元/股，最低成交价为 16.03 元/股，成交总 金额为 13,510,258.00 元（不含交易费用）。 本次回购股份资金来源为公司自有资金，回购价格未超过回购方 案中拟定的价格上限。本次回购符合相关法律法规及公司既定回购股 份方案的要求。 二、其他说明 公司首次回购股份的时间、回购股份数量、回购股份价格及集中竞 价交易的委托时段符合《上市公司股份回购规则》《深圳证券交易所上 ...

Group 1 - The core point of the article is that Shenhuo Co., Ltd. has announced a share buyback plan to enhance shareholder value and confidence, despite facing declining profits due to market conditions [1][2] - The company plans to repurchase shares worth between 250 million and 450 million yuan at a price not exceeding 20 yuan per share, aimed at implementing an equity incentive plan [2] - Shenhuo's financial health is stable, with a decreasing debt-to-asset ratio, which has dropped to 48.57% by the end of 2024, and a consistent reduction in financial expenses [1][5] Group 2 - In 2023, Shenhuo reported a revenue of 37.63 billion yuan, a decrease of 11.89% year-on-year, and a net profit of 5.905 billion yuan, down 22.07% [4] - The company has maintained a commitment to shareholder returns, with a total dividend payout of 5.848 billion yuan over three years from 2022 to 2024 [5] - Despite the current performance challenges, market analysts believe that the company's earnings may recover by 2025 due to a potential decline in alumina prices, which could improve electrolytic aluminum profitability [4]

Investment Rating - The investment rating for the coal industry is "Positive" (maintained) [1] Core Views - The report emphasizes the importance of coal as a defensive asset amid unexpected U.S. tariffs, highlighting the need for a balanced approach in coal investments [1][4] - The coal market is currently in a bottoming phase, with potential for price stabilization and rebound supported by various factors including long-term contract price ceilings and self-rescue actions by coal companies [3][4] - The report suggests that the coal sector is entering a new phase of investment opportunities, driven by macroeconomic policies and capital market support [4][12] Summary by Sections Investment Logic - The coal sector is viewed as a stable dividend investment due to weak domestic economic performance and external pressures from U.S. tariff policies, with insurance funds starting new allocations in coal [4][12] - The cyclical elasticity of coal stocks is expected to improve as supply-demand fundamentals continue to enhance, particularly after the March Two Sessions and the arrival of the spring construction season [4][12] Key Market Indicators - The coal sector saw a slight increase of 0.6%, outperforming the CSI 300 index by 1.97 percentage points [7][9] - The current PE ratio for the coal sector is 10.6, and the PB ratio is 1.22, indicating relatively low valuations compared to other sectors [9][12] Coal Price Trends - Port coal prices have stabilized, with CCTD Q5500 coal priced at 676 CNY/ton, remaining unchanged week-on-week [3][15] - The inventory at ports has decreased, with the total inventory in the Bohai Rim area at 30.271 million tons, down 3.08% from the previous week [3][15] Supply and Demand Dynamics - The operating rate of coal mines in Shanxi, Shaanxi, and Inner Mongolia remains steady at 82.1% [3][15] - Daily coal consumption by coastal power plants has decreased to 1.844 million tons, a drop of 3.96% [3][15] Company Performance and Recommendations - Selected coal stocks are expected to benefit from the current market conditions, with recommendations for companies such as China Shenhua, Shaanxi Coal, and China Coal Energy based on their dividend potential [4][12][13] - The report highlights the importance of capital inflows from industry players, indicating a recognition of the current value bottom in the coal sector [4][12]

Investment Rating - The report maintains a "Recommended" rating for the coal mining industry [1] Core Viewpoints - The coal price at ports has stabilized, and the investment value of leading coal companies is emphasized [2][4] - The supply constraints in the coal mining industry remain unchanged, while demand may fluctuate, leading to price dynamics and rebalancing [7][74] - The report highlights the strong cash flow and high asset quality of leading coal companies, characterized by high profitability, high cash flow, high barriers to entry, high dividends, and high safety margins [7][74] Summary by Sections 1. Thermal Coal - Port inventory continues to decrease, and port prices have stabilized [10][13] - The production side shows stable supply, with a slight decrease in capacity utilization in the main production areas [13][21] - Demand has improved, with increased daily consumption in coastal and inland power plants [13][24] - The average daily coal input at ports has decreased, leading to a reduction in northern port inventories [29][33] 2. Coking Coal - Production continues to contract, with a decrease in capacity utilization due to previous production issues [39][73] - Demand has improved, with rising daily iron output and reduced inventory at coking enterprises [39][73] - The overall supply-demand situation for coking coal has improved, with a decrease in production enterprise inventory [39][73] 3. Coke - The market anticipates price increases for coke after the Qingming Festival, with rising production rates in coking plants [52][73] - The average profit per ton of coke has decreased, indicating a challenging profitability environment [54][73] 4. Anthracite - The price of anthracite remains stable, with high operating rates in major production areas [68][74] 5. Key Companies and Profit Forecasts - The report identifies key companies to focus on, including China Shenhua, Shaanxi Coal and Chemical Industry, and Yanzhou Coal Mining Company, among others, with strong investment recommendations [8][75] - The report provides earnings per share (EPS) and price-to-earnings (PE) ratios for various companies, indicating their investment potential [8][75]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [6]. Core Views - The company's performance in 2024 met expectations, with revenue of 38.37 billion yuan, a year-on-year increase of 2%, and a net profit attributable to shareholders of 4.31 billion yuan, a decrease of 27.1% year-on-year. The decline in performance is attributed to falling prices and volumes of coal products, as well as rising prices of aluminum's main raw material, alumina [1][2]. - The company plans to maintain a high level of dividends, distributing 8 yuan per 10 shares, totaling 1.799 billion yuan, which is consistent with the previous year [4]. - The report anticipates improved profit margins in the coming years due to fluctuations in aluminum prices and a decrease in alumina prices, projecting net profits of 5.57 billion yuan, 6.76 billion yuan, and 7.11 billion yuan for 2025, 2026, and 2027 respectively [4][5]. Financial Performance Summary - In 2024, the company achieved an aluminum production of 1.6285 million tons, a year-on-year increase of 7.3%, with sales of 1.6289 million tons, up 6.7% year-on-year. The average selling price of aluminum was 15,956 yuan per ton, down 3.6% year-on-year [2]. - The coal production and sales in 2024 were 6.739 million tons and 6.7013 million tons, respectively, representing a decrease of 6.0% and 7.5% year-on-year. The average selling price of coal was 1,019 yuan per ton, down 7.8% year-on-year [3]. - The company reported an investment income of 666.5 million yuan in 2024, a significant increase of 98.5% year-on-year, primarily due to the transfer of a 51% stake in Shenhuo Power [3]. Financial Data and Valuation - The company's revenue is projected to grow from 38.37 billion yuan in 2024 to 41.18 billion yuan in 2025, with a growth rate of 7.33% [5]. - The net profit attributable to shareholders is expected to rebound to 5.57 billion yuan in 2025, reflecting a growth rate of 29.31% [5]. - The price-to-earnings ratio (P/E) is projected to be 7.41 in 2025, indicating a favorable valuation compared to historical levels [5].

截至2025年4月2日收盘，神火股份(000933)报收于18.58元，下跌1.17%，换手率0.78%，成交量17.59万手，成交额3.31亿元。 董秘最新回复 投资者： 公司宣布回购时，大家对公司都很有信心和希望。但过去已经有三个月了，但公司还没有实施回购，对股民造成很大失望，对股价也造 成了很大的压力。为使投资者对公司恢复信心，应尽快实施回购。 董秘： 感谢您对公司的支持和关心。 投资者： 公司2024年煤炭业务的人工成本大幅增长，请详细说明一下原因 董秘： 一是，随着公司经营情况的不断改善，公司职工薪酬收入水平整体有所提升，五险一金及各项福利待遇亦有所增加；二是，公司不断优化 薪酬管理体系，加大收入分配向基层一线的苦、脏、累、险岗位倾斜；三是，为保障和提高职工退休后待遇水平，调动职工的劳动积极性，建立 人才长效激励机制，公司自2023年7月1日起建立了企业年金，并制定了企业年金方案。由于煤炭业务板块在整个公司人员结构里中占比很大，而 且岗位相对比较艰苦，因此，计入煤炭业务人工成本的金额整体增幅较大。 投资者： 请问截止4月2日股东人数 董秘： 感谢关注，公司也查不到！ 投资者： 董秘，您好！回购的时候 ...

Mergers and Acquisitions - Anyuan Coal Industry's controlling shareholder plans to swap 57% of Jiang Jinhui's magnetic separation shares with the company's coal business, which is expected to constitute a significant asset restructuring [1] - *ST Zhongji intends to acquire 100% equity of New Energy Chemical [1] Equity Transfer, Buyback, and Increase - Kingsoft Office's shareholder is inquiring about the transfer of 7.7618 million shares [2] - Shenhuo Co. plans to repurchase shares for between 250 million to 450 million yuan [2] - Glodon Company intends to repurchase shares for between 105 million to 210 million yuan [2] - Lite Optoelectronics plans to repurchase shares for between 50 million to 100 million yuan [2] - Hengtong Group, the controlling shareholder of Hengtong Co., plans to increase its stake by 150 million to 300 million yuan [2] External Investment and Daily Operations - Jinlongyu plans to invest 1.2 billion yuan in the construction of a solid-state battery material project [3] - Guangxin Materials' fundraising project "11,300t/a self-made resin and 7,000t/a inner layer ink" has begun trial production [3] - WuXi AppTec sold 50.8 million shares of WuXi AppTec Holdings, with an investment return of approximately 1.847 billion yuan [3] - Shanghai Environment intends to acquire 50% equity of Shanghai Chengbo Lian Industrial Co., Ltd. for 582 million yuan [3] - Taicheng Light signed a global patent licensing agreement with US Conec Ltd., allowing for mass production and sales of MDC fiber optic connectors [3] Performance Changes - New Hope expects a year-on-year net profit growth of 122.23% to 125.85% in the first quarter of 2025, with a reduction in losses from pig farming and an increase in both volume and profit in the feed business [4] - Haili Heavy Industry anticipates a year-on-year net profit growth of 50.00% to 65.00% in the first quarter of 2025, driven by improved order quality and a higher proportion of high-margin product orders, resulting in increased sales gross margin [4]

Key Points Summary Core Viewpoint - The company, Henan Shenhuo Coal and Electricity Co., Ltd., has announced a share repurchase plan using its own funds, with a total amount not exceeding RMB 450 million, to enhance investor confidence and implement an equity incentive plan [1][2]. Group 1: Share Repurchase Plan Details - The repurchase will be conducted at a price not exceeding RMB 20 per share, with a duration of 12 months from the board's approval date [1][3]. - The purpose of the repurchase is to maintain investor rights, enhance confidence, and improve the long-term incentive mechanism for core personnel [2][3]. - The expected number of shares to be repurchased is at least 22.5 million, accounting for approximately 1.00% of the company's total share capital [3][4]. Group 2: Financial Impact and Conditions - The total assets of the company as of December 31, 2024, are RMB 5,060.27 million, with net assets of RMB 2,168.17 million and cash reserves of RMB 328.26 million [4][5]. - The repurchase amount represents about 0.89% of total assets and 2.08% of net assets, indicating that it will not significantly impact the company's operational and financial capabilities [5][6]. - The company has established a dedicated securities account for the repurchase, ensuring compliance with relevant regulations [6][7]. Group 3: Governance and Compliance - The board of directors approved the repurchase plan with unanimous support, and it does not require further shareholder approval [1][7]. - There are no current plans for share buybacks or sales by major shareholders or executives during the repurchase period [2][8]. - The company commits to timely disclosure of any developments related to the repurchase and will ensure that the rights of creditors are protected [5][8].

证券代码：000933 证券简称：神火股份 公告编号：2025-027 河南神火煤电股份有限公司 关于召开 2024 年度业绩说明会并征集问题的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 为充分尊重投资者，提升公司与投资者之间的交流效率，公司现 就本次业绩说明会提前向投资者公开征集问题。投资者可于 2024 年 4 月 10 日 17 ： 30 前 将 关 注 问 题 发 送 至 公 司 邮 箱 （shenhuogufen@163.com），公司将通过本次业绩说明会，在信息披 露允许范围内就投资者普遍关注的问题进行回答。 三、咨询方式 河南神火煤电股份有限公司（以下简称"公司"）已于 2025 年 3 月 25 日在巨潮资讯网（www.cninfo.com.cn）披露了《2024 年年度报 告》及相关文件，为便于广大投资者进一步了解公司 2024 年度经营 业绩等情况，公司将召开 2024 年度业绩说明会，与投资者进行沟通 和交流，并听取投资者的意见和建议。 一、业绩说明会安排 1、召开时间：2025 年 4 月 11 日（星期五）15:00-17: ...

特此公告。 证券代码：000933 证券简称：神火股份 公告编号：2025-026 河南神火煤电股份有限公司 关于股份回购进展情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 河南神火煤电股份有限公司（以下简称"公司"）于 2024 年 12 月 30 日召开董事会第九届十四次会议审议通过了《关于回购公司股份方 案的议案》，同意公司使用自有资金通过集中竞价交易方式回购部分股 份用于股权激励计划，回购总金额不低于人民币 2.50 亿元（含）且不 超过人民币 4.50 亿元（含），回购价格不超过人民币 20 元/股（含）， 实施期限为自董事会审议通过本次回购方案之日起 12 个月内。具体内 容详见公司于 2024 年 12 月 31 日在《证券时报》《中国证券报》《上 海证券报》《证券日报》及巨潮资讯网（http://www.cninfo.com.cn）披 露的《关于回购公司股份方案的公告》（公告编号：2024-060）。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监 管指引第 9 号—回购股份》等有关规定，公司应当于每个月的前三个 交易日 ...