华夏时报记者李佳佳李未来北京报道 近期，上市公司年报披露进入密集期，焦炭行业的业绩表现成为资本市场关注焦点。 4月24日，山西焦化（600740）股份有限公司(下称"山西焦化"，600740.SH)发布2024年年报，公司营收 75.07亿元，同比下滑14.2%；归母净利润2.63亿元，同比大幅减少79.37%；扣非净利润2.39亿元，降幅 达81.24%。 此前，陕西黑猫（601015）焦化股份有限公司(下称"陕西黑猫"，601015.SH)也公布了2024年年报，公 司归母净利润-11.58亿元，同比暴跌126.21%；扣非净利润-11.54亿元，同比降低130.16%。值得一提的 是，这是陕西黑猫上市以来最差的成绩单，公司利润亏损再创新高。 卓创资讯（301299）焦炭分析师刘璐璐对《华夏时报》记者表示，焦炭行业近年盈利面临较大压力，主 要有两方面原因，一是各地环保压力下对煤耗指标的控制，部分焦炉被迫停产淘汰或者持续限产压力； 二是国内钢铁行业供应过剩局面下，国内粗钢逐年压减，焦炭需求逐年萎缩，焦企议价能力下降。 产能过剩 除了价格下跌，销量下滑这一趋势也在多家企业的经营数据中得到印证。 2024年，从 ...

Core Viewpoint - The company, Jizhong Energy, reported a significant decline in both revenue and net profit for the year 2024, primarily due to the cyclical downturn in the coal industry and falling coal prices [1][2][3]. Financial Performance - In 2024, Jizhong Energy achieved operating revenue of 18.731 billion yuan, a year-on-year decrease of 23.01% [1][2]. - The net profit attributable to shareholders was 1.208 billion yuan, down 75.56% year-on-year [1][2]. - The company's coal business generated revenue of 14.687 billion yuan, a decline of 24.1%, accounting for 78.41% of total revenue [3]. - The gross profit margin for the coal business fell to 42.52%, down 2.37 percentage points from the previous year [3]. Production and Sales - Jizhong Energy's coal production and sales for 2024 were 26.9289 million tons and 24.2543 million tons, respectively, representing declines of 1.76% and 6.85% year-on-year [1][3]. - The average selling price of commodity coal was 580.78 yuan, a decrease of 19.4% compared to 720.56 yuan in 2023 [5]. Subsidiary Control and Acquisition - The company announced plans to acquire a 20.02% stake in Shanyin Shouyang Duanwang Coal Industry Group for 898 million yuan, increasing its control to 83.21% [1][7]. - This acquisition is expected to enhance the company's governance and increase investment returns [8]. - As of the end of 2024, the subsidiary, Duanwang Coal, had coal reserves of 493 million tons and a production capacity of 5.1 million tons per year [7][8]. Dividend Policy - Jizhong Energy maintained a high dividend payout ratio, planning to distribute a total of 2.827 billion yuan in dividends for 2024, which exceeds its net profit by 234.02% [1][8].

➢ 事件：2025 年 4 月 23 日，1）公司发布 2024 年年报，2024 年营业收入 187.31 亿元，同比减少 23.01%；归属于母公司所有者的净利润 12.08 亿元，同 比减少 75.56%。2）公司拟与建信金融资产投资有限公司签署《山西寿阳段王煤 业集团有限公司股权转让协议》，以 8.98 亿元收购段王煤业 20.02%股权。 ➢ 24Q4 出现亏损。根据年报测算，24Q4 公司实现归母净利润-0.06 亿元， 去年同期归母净利润为 10.28 亿元，由盈转亏。环比 24Q3 的 2.13 亿元由盈转 亏。24Q4 扣非后净利润为 0.44 亿元，同比下降 93.26%，环比下降 78.56%。 24Q4 计提资产减值损失以及信用减值损失 1.25 亿元，影响业绩释放。 ➢ 全年现金分红 234%，股息率 14%。据公告，公司拟每 10 股派 6.0 元，合 计派发现金红利 21.2 亿元，叠加中期分红，2024 年度合计拟派发现金红利人民 币 28.27 亿元，占当年归属于公司股东净利润的比例为 233.96%。以 2025 年 4 月 23 日收盘价测算，股息率 13.82%。 ➢ ...

Investment Rating - The report maintains a "Cautious Recommendation" rating for the company [6]. Core Views - The company reported a significant decline in revenue and net profit for 2024, with revenue at 18.731 billion yuan, down 23.01% year-on-year, and net profit attributable to shareholders at 1.208 billion yuan, down 75.56% year-on-year [1][5]. - The company plans to acquire a 20.02% stake in Shandong Shouyang Duanwang Coal Industry Group for 899 million yuan, which is expected to enhance investment returns [1][3]. - The company has proposed a high cash dividend of 234%, with a total cash dividend distribution of 2.827 billion yuan for the year, resulting in a dividend yield of approximately 13.82% based on the closing price on April 23, 2025 [2][5]. Summary by Sections Financial Performance - In Q4 2024, the company reported a net profit of -0.06 billion yuan, a significant drop from 1.028 billion yuan in the same period last year, and a decrease from 0.213 billion yuan in Q3 2024 [1]. - The coal production for 2024 was 26.9289 million tons, a decrease of 1.76% year-on-year, while coal sales fell by 6.85% to 24.2543 million tons [2]. - The average selling price of coal decreased by 19.4% to 580.78 yuan per ton, with the cost per ton dropping by 16.73% to 362.69 yuan [2]. Business Segments - The non-coal business also faced challenges, with a decline in gross margins across various products, including coke, caustic soda, PVC, and fiberglass [3]. - The acquisition of Duanwang Coal is projected to add value, with the company holding coal reserves of 493 million tons and a net profit of 498 million yuan in 2024, translating to a PE ratio of approximately 9 times for the acquired stake [3]. Future Projections - The company forecasts net profits of 0.396 billion yuan, 0.533 billion yuan, and 0.617 billion yuan for 2025, 2026, and 2027, respectively, with corresponding EPS of 0.11 yuan, 0.15 yuan, and 0.17 yuan [4][5]. - The projected PE ratios for the next three years are 52, 38, and 33 times, respectively, indicating a potential recovery in earnings [4][5].

NO.2天齐锂业（002466）预计一季度净利润8200万元至1.23亿元，同比扭亏为盈 丨 2025年4月24日星期四丨 NO.1盐湖股份：2025年第一季度净利润同比增长22.52% 4月23日，盐湖股份（000792）发布2025年第一季度报告，当期实现营业收入31.19亿元，同比增长 14.50%，归属于上市公司股东的净利润11.45亿元，同比增长22.52%。盐湖股份表示，氯化钾作为公司 主要营收来源之一，受市场供需关系等因素影响，市场价格显著上扬，进而推动公司业绩较上年同期实 现增长。 点评：这一增长主要得益于公司核心产品氯化钾与碳酸锂的稳定生产和销售，特别是氯化钾市场价格的 上涨，有效推动了公司业绩的提升。随着全球农业和电动汽车行业对氯化钾和碳酸锂需求的增长，盐湖 股份的业绩有望继续保持增长态势，对相关行业产生积极影响。 NO.3冀中能源（000937）拟8.98亿元收购建信投资所持段王煤业20.02%股权 4月23日，冀中能源公告，公司拟以8.98亿元收购建信投资持有的段王煤业20.02%股权。交易完成后， 公司对段王煤业的控股比例将增至83.21%。据悉，段王煤业所属煤矿具有储量富足、煤质优 ...

转自：证券日报网 重要公告： 中国交建：一季度新签合同额5530.34亿元 同比增长9.02% 北元集团：一季度净利润同比增长442.29% 方大特钢：一季度净利润同比增长167.99% 杰瑞股份：拟1.5亿元—2.5亿元回购公司股份 海泰科：一季度净利润同比增长5738.82% 沪市重要公告： 澜起科技（688008）公告，公司2025年第一季度实现营业收入12.22亿元，同比增长65.78%；净利 润5.25亿元，同比增长135.14%。 上海雅仕：一季度净利润同比增长129.78% 上海雅仕（603329）公告，公司2025年第一季度实现营业收入8.01亿元，同比增长57.5%；净利润 974.87万元，同比增长129.78% 北元集团：一季度净利润同比增长442.29% 中国交建：一季度新签合同额5530.34亿元 同比增长9.02% 中国交建（601800）公告，2025年一季度，公司新签合同额为5530.34亿元，同比增长9.02%，完成 年度目标的27%。 方大特钢：一季度净利润同比增长167.99% 方大特钢（600507）公告，公司2025年第一季度实现营业收入43.46亿元，同比下降26. ...

Mergers and Acquisitions - Shanghai Yashi plans to acquire 30% equity in Euro-Asia Company, which would result in holding 100% equity if successful [1] - Jizhong Energy intends to acquire 20.02% equity in Duanwang Coal Industry from Jianxin Investment for 898 million yuan, increasing its stake to 83.21% post-transaction [1] Share Buybacks and Increases - Jerry Holdings plans to repurchase shares worth 150 million to 250 million yuan, with a maximum price of 49 yuan per share [2] - Tongkun Holdings' shareholder, Leixin Industrial, intends to increase holdings by 250 million to 500 million yuan [2] External Investments and Daily Operations - Visionox plans to invest 5 billion yuan to establish a global new display industry innovation center project in Kunshan [3] - Siwei Map Technology has signed a strategic cooperation framework agreement with Volcano Engine [4] - Nandu Power plans to list on the Hong Kong Stock Exchange [5] Performance Changes - Tianfu Communication reported a net profit of 338 million yuan in Q1 2025, a year-on-year increase of 21.07% [6] - Yara International reported a net profit of 384 million yuan in Q1, a significant year-on-year increase of 374%, driven by increased sales and prices of potash [7] - Tianqi Lithium expects a net profit of 82 million to 123 million yuan in Q1, marking a turnaround from losses, with increased production and sales of lithium compounds and derivatives [7] - Haitai Technology reported a net profit of 13.92 million yuan in Q1, a year-on-year increase of 5739%, attributed to revenue recognition from molds reaching acceptance status [7] - Lanke Technology's net profit for Q1 2025 was 525 million yuan, up 135.14% year-on-year, benefiting from AI industry trends driving demand for DDR5 memory interface chips and high-performance computing chips [7] - Shanghai Yashi reported a net profit of 9.75 million yuan in Q1 2025, a year-on-year increase of 129.78% [7] - Beiyuan Group's net profit for Q1 was 50 million yuan, a year-on-year increase of 442%, due to rising prices of caustic soda and declining procurement prices of key raw materials [7] - Desay SV reported a net profit of 582 million yuan in Q1, a year-on-year increase of 51.32% [8] - Quectel Wireless Solutions reported a net profit of 588 million yuan in 2024, a year-on-year increase of 548.49% [8] - Aucma corrected its annual performance forecast for 2024, expecting a net loss of 45 million to 50 million yuan [9]

证券代码：000937 证券简称：冀中能源 公告编号：2025 临-022 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，没有虚假 记载、误导性陈述或者重大遗漏。 冀中能源股份有限公司 关于冀中能源集团财务有限责任公司以未分配利润转增 注册资本暨关联交易的公告 重要内容提示： 1、增资标的：冀中能源集团财务有限责任公司（以下简称"财 务公司"）。 2、增资金额：以所享有的未分配利润转增注册资本3.5亿元。 3、增资概况：增资前，财务公司注册资本45亿元，冀中能源集 团有限责任公司（以下简称"冀中能源集团"）持有其45%的股份， 冀中能源股份有限公司（以下简称"公司"）持有其35%的股份，华 北制药股份有限公司（以下简称"华北制药"）持有其20%的股份。 本次增资拟以未分配利润10亿元按照各股东持股比例同比例转增注 册资本，其中公司以享有的未分配利润出资3.5亿元，增资完成后， 财务公司的股权结构不变。 4、财务公司与公司同属冀中能源集团的控股子公司，根据《深 圳证券交易所股票上市规则》和《公司章程》等相关规定，本次交易 构成关联交易。 5、本次交易金额未超过公司最近一期经审计净资产的5%，根据 《深圳 ...

冀中能源股份有限公司 2024 年度董事会工作报告 第一部分 2024 年主要工作 2024 年，面对保安全、稳生产及市场下行的巨大压力，面对抓改革 促发展的繁重任务，公司董事会以规范企业治理、提升经营业绩、维护 股东权益为己任，依法履职尽责，科学民主决策，有效推动了企业发展 战略和各项任务目标落实落地。公司全年实现营业收入 187.31 亿元，利 润总额 20.95 亿元，经营业绩保持稳健。 报告期内，主要工作情况如下： 一、加强战略谋划，企业发展方向更加明确 公司董事会始终坚持顶层设计和具体实践相结合，持续加强前瞻性 思考和战略性布局，深入研判行业发展趋势，准确把握自身运营规律， 科学谋划改革发展路径，提出"主业更强、非煤更优"发展思路，组建 专班加快煤炭资源整合，解放思想谋划非煤发展路径，并进一步明确打 造四个"千万吨矿区"发展规划，把稳了企业高质量发展方向。聚焦改 革发展新思路新规划落地实施，公司董事会抓住调整换届时机，配强董 事、经理和高管人员，调整战略与可持续发展委员会，及时加强董监高 人员业务素质培训，年内举办了上市公司市值管理专题讲座、可持续发 展报告编制培训，有效促进了董事会规范运行和科学决 ...