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冀中能源(000937) - 半年报监事会决议公告
2025-08-15 08:45
证券代码:000937 证券简称:冀中能源 公告编号:2025 临-045 冀中能源股份有限公司 第八届监事会第十一次会议决议公告 冀中能源股份有限公司(以下简称"公司")第八届监事会第十 一次会议于2025年8月14日上午11:30在公司金牛大酒店四层第二会 议厅以现场和通讯相结合的方式召开。会议通知已于10日前以专人送 达或传真方式发出。会议应到监事5名,现场出席3名,张现峰先生、 李为民先生以通讯方式出席了本次会议并表决。会议由监事会主席张 现峰先生主持,董事会秘书和证券事务代表列席了会议。会议的召集、 召开和表决程序,符合《中华人民共和国公司法》和《公司章程》的 有关规定。与会监事经过认真审议,以记名投票的方式通过了以下议 案: 一、关于公司《2025年半年度报告》及摘要的议案 经审议,监事会认为,公司2025年半年度报告的编制程序、内容 和格式符合相关文件的规定;半年度报告编制期间,不存在泄密及其 他违反法律法规、《公司章程》或损害公司利益的情形;报告真实、 准确、完整地反映了公司的财务状况和经营成果。 同意 5 票 反对 0 票 弃权 0 票 特此公告。 1 本公司及监事会全体成员保证公告内容的真 ...
冀中能源(000937) - 半年报董事会决议公告
2025-08-15 08:45
证券代码:000937 证券简称:冀中能源 公告编号:2025 临-044 冀中能源股份有限公司 第八届董事会第十五次会议决议公告 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(以下简称"公司")第八届董事会第十 五次会议于2025年8月14日上午10:00在公司金牛大酒店四层第二会 议厅召开,会议通知已于10日前以专人送达或传真方式发出。会议应 到董事11名,现场出席4名,董事孟宪营、高晓峰、董兆寒及独立董 事谢宏、梁俊娇、胡晓珂、胡传雨进行了通讯表决。董事长闫云胜先 生主持会议。公司监事、高级管理人员及其他有关人员列席了会议, 会议的召集、召开和表决程序符合《中华人民共和国公司法》和《公 司章程》的有关规定。与会董事经过认真审议,以记名投票的方式通 过了以下议案: 一、关于公司《2025年半年度报告》及摘要的议案 根据《公司章程》的规定,公司编制完成了《2025年半年度报告》 及摘要。具体内容详见公司刊登在巨潮资讯网上的《冀中能源股份有 限公司2025年半年度报告》。 同意11票 反对0票 弃权0票 二、关于财务公司风险评估报告的议案 ...
冀中能源:2025年半年度净利润约3.48亿元,同比下降65.24%
Mei Ri Jing Ji Xin Wen· 2025-08-15 08:44
冀中能源(SZ 000937,收盘价:6.22元)8月15日晚间发布半年度业绩报告称,2025年上半年营业收入 约72.93亿元,同比减少27.87%;归属于上市公司股东的净利润约3.48亿元,同比减少65.24%;基本每 股收益0.0985元,同比减少65.24%。 (文章来源:每日经济新闻) ...
冀中能源(000937.SZ):上半年净利润3.48亿元 同比下降65.24%
Ge Long Hui A P P· 2025-08-15 08:44
格隆汇8月15日丨冀中能源(000937.SZ)公布2025年半年度报告,上半年公司实现营业收入72.93亿元,同 比下降27.87%;归属于上市公司股东的净利润3.48亿元,同比下降65.24%;归属于上市公司股东的扣除 非经常性损益的净利润3.27亿元,同比下降67.28%;基本每股收益0.0985元。 ...
冀中能源(000937) - 2025 Q2 - 季度财报
2025-08-15 08:35
[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Item%20I.%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, the report's structure, and definitions of key terms [Important Notice](index=2&type=section&id=Important%20Notice) The Board, Supervisory Committee, and senior management guarantee the report's accuracy and completeness, with no cash dividends planned - The Board, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false statements, misleading representations, or major omissions[4](index=4&type=chunk) - The company's responsible person, chief accountant, and head of the accounting department declare the financial report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section lists the report's structure, including nine main chapters and their starting page numbers for quick navigation - The report comprises nine main chapters covering important notices, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, financial reports, and other submitted data[7](index=7&type=chunk) [List of Documents for Reference](index=4&type=section&id=List%20of%20Documents%20for%20Reference) This section provides a list of documents available for inspection during the reporting period, including signed financial statements - Documents for reference include financial statements signed and sealed by the legal representative, chief accountant, and head of the accounting department[9](index=9&type=chunk) - Originals of all company documents and announcements publicly disclosed on the website designated by the China Securities Regulatory Commission during the reporting period[10](index=10&type=chunk) - The 2025 semi-annual report and its summary[11](index=11&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines and explains specific terms used in the report to ensure a clear understanding of the company and related concepts - "Jizhong Energy/The Company/Company" refers to Jizhong Energy Company Limited, formerly Hebei Jinniu Energy Company Limited[12](index=12&type=chunk) - Defines "Jizhong Energy Group", "Fengfeng Group", "Xingkuang Group", "Hankuang Group", "Zhangkuang Group" as related parties[12](index=12&type=chunk) - Explains "Major Asset Restructuring" refers to the company's issuance of shares in 2009 to acquire high-quality operating assets and liabilities related to coal businesses from Fengfeng Group, Hankuang Group, and Zhangkuang Group[12](index=12&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Item%20II.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and presents key financial data and indicators for the reporting period [Company Profile](index=6&type=section&id=I.%20Company%20Profile) This section introduces the company's basic information, including stock abbreviation, code, listing exchange, and legal representative - The company's stock abbreviation is “冀中能源”, stock code **000937**, listed on the Shenzhen Stock Exchange[14](index=14&type=chunk) - The company's Chinese name is Jizhong Energy Company Limited, and its legal representative is Yan Yunsheng[14](index=14&type=chunk) [Contact Persons and Information](index=6&type=section&id=II.%20Contact%20Persons%20and%20Information) This section provides the names, addresses, phone numbers, fax numbers, and email addresses of the company's Board Secretary and Securities Affairs Representative - The Board Secretary is Zhang Wencheng, and the Securities Affairs Representative is Li Ying, both with the contact address at No 191 Zhongxing West Street, Xingtai City, Hebei Province[15](index=15&type=chunk) [Other Information](index=6&type=section&id=III.%20Other%20Information) This section states that the company's contact information, information disclosure, and document storage locations remained unchanged during the reporting period - The company's registered address, office address, website, and email address remained unchanged during the reporting period[16](index=16&type=chunk) - Information disclosure and document storage locations remained unchanged during the reporting period, as detailed in the 2024 annual report[17](index=17&type=chunk) [Key Accounting Data and Financial Indicators](index=6&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section presents the company's key accounting data and financial indicators for the current reporting period compared to the same period last year, showing significant declines in revenue and net profit Key Accounting Data and Financial Indicators (Current Period vs Prior Year) | Indicator | Current Period (Yuan) | Prior Year (Yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 7,293,306,657.99 | 10,110,985,310.64 | -27.87% | | Net Profit Attributable to Shareholders | 348,089,099.10 | 1,001,510,815.02 | -65.24% | | Net Profit Attributable to Shareholders After Non-Recurring Items | 327,120,516.81 | 999,631,198.55 | -67.28% | | Net Cash Flow from Operating Activities | 594,818,147.08 | 1,137,505,541.99 | -47.71% | | Basic Earnings Per Share (Yuan/Share) | 0.0985 | 0.2834 | -65.24% | | Diluted Earnings Per Share (Yuan/Share) | 0.0985 | 0.2834 | -65.24% | | Weighted Average Return on Equity | 1.85% | 4.77% | -2.92% | | **Period-End Indicators** | **Current Period-End** | **Prior Year-End** | **Period-End vs Prior Year-End Change** | | Total Assets (Yuan) | 53,428,261,712.86 | 53,196,088,650.56 | 0.44% | | Net Assets Attributable to Shareholders (Yuan) | 18,967,225,405.71 | 20,942,496,643.34 | -9.43% | [Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=7&type=section&id=V.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Overseas%20Accounting%20Standards) This section states that there are no differences in net profit and net assets between financial reports prepared under international or overseas accounting standards and Chinese accounting standards - The company's financial reports show no differences in net profit and net assets between international accounting standards and Chinese accounting standards during the reporting period[20](index=20&type=chunk) - The company's financial reports show no differences in net profit and net assets between overseas accounting standards and Chinese accounting standards during the reporting period[21](index=21&type=chunk) [Non-Recurring Gains and Losses and Amounts](index=7&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20and%20Amounts) This section details non-recurring gains and losses for the reporting period, totaling **20.97 million yuan**, primarily from disposal of non-current assets and government grants Non-Recurring Gains and Losses and Amounts | Item | Amount (Yuan) | Explanation | | :--- | :--- | :--- | | Disposal gains/losses of non-current assets (including the reversal of impairment provisions already made) | 31,622,077.06 | Notes VII, 56, 58 | | Government grants included in current profit/loss (excluding those closely related to the company's normal operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit/loss) | 29,900,757.38 | Notes VII, 38 | | Fair value changes and disposal gains/losses of financial assets and liabilities held by non-financial enterprises, excluding effective hedge accounting related to normal business operations | -1,174,311.86 | Notes VII, 52 | | Reversal of impairment provisions for individually tested receivables | 161,490.00 | | | Debt restructuring gains/losses | 2,213,019.99 | Notes VII, 53 | | Other non-operating income and expenses apart from the above items | -26,923,733.57 | | | Less: Income tax impact | 15,344,577.14 | | | Minority interest impact (after tax) | -513,860.43 | | | **Total** | **20,968,582.29** | | - The company does not classify any non-recurring gains and losses listed in "Interpretive Announcement No 1 on Information Disclosure by Companies Issuing Securities to the Public—Non-Recurring Gains and Losses" as recurring gains and losses[25](index=25&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Item%20III.%20Management%20Discussion%20and%20Analysis) This section provides management's perspective on the company's operations, financial performance, and future outlook during the reporting period [Principal Businesses Engaged in During the Reporting Period](index=9&type=section&id=I.%20Principal%20Businesses%20Engaged%20in%20During%20the%20Reporting%20Period) The company operates in coal, chemical, new materials, and modern services, with coal as its core business, accounting for **78.34%** of total revenue in H1 2025 - The company's businesses include coal, chemical, new materials, and modern services, with coal as its primary product[27](index=27&type=chunk) - In the first half of 2025, the company's raw coal output was **13.1466 million tons**, coal sales were **11.5039 million tons**, coal sales revenue was **5.714 billion yuan**, and coal revenue accounted for **78.34%** of total operating revenue[27](index=27&type=chunk) - The company's coal products are classified into coking coal and thermal coal, used in the steel industry and power generation, building materials, and chemical industries, respectively[27](index=27&type=chunk) - From January to June 2025, national industrial raw coal output above designated size was **240 million tons**, a **5.4%** year-on-year increase, with the coal industry accelerating its transformation towards intelligence and green practices[30](index=30&type=chunk) [Analysis of Core Competitiveness](index=10&type=section&id=II.%20Analysis%20of%20Core%20Competitiveness) The company's core competitiveness stems from its rich and high-quality coal resources, strategic location in the Beijing-Tianjin-Hebei region, and advanced mining technologies - The company's main coal mines are located in resource-rich areas like Hebei, Shanxi, and Inner Mongolia, possessing abundant and high-quality coal resources, including scarce coking coal, 1/3 coking coal, fat coal, and gas coal[32](index=32&type=chunk) - The company's coking coal resources are primarily distributed in the heartland of the Beijing-Tianjin-Hebei Bohai Rim economic circle, offering extremely convenient transportation and significant economic regional advantages[32](index=32&type=chunk) - The company holds leading positions in the coal industry for technologies such as one-time full-height mining in thick coal seams, top-coal caving, and integrated bolt support for coal roadways[32](index=32&type=chunk) [Analysis of Principal Business](index=10&type=section&id=III.%20Analysis%20of%20Principal%20Business) During the reporting period, the company's principal business revenue decreased by **27.87%** year-on-year, and net profit attributable to shareholders declined by **65.24%**, with coal business revenue and gross margin both falling Year-on-Year Changes in Key Financial Data | Indicator | Current Period (Yuan) | Prior Year (Yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 7,293,306,657.99 | 10,110,985,310.64 | -27.87% | | | Net Profit Attributable to Shareholders | 348,089,099.10 | 1,001,510,815.02 | -65.24% | | | Net Cash Flow from Operating Activities | 594,818,147.08 | 1,137,505,541.99 | -47.71% | Mainly due to decreased revenue in the current period | | Net Cash Flow from Investing Activities | -2,409,501,132.31 | -701,122,725.63 | 243.66% | Mainly due to payment for equity in the current period | | R&D Investment | 221,726,408.96 | 526,606,226.97 | -57.90% | Mainly due to reduced R&D investment | Operating Revenue Composition (by Industry) | Industry Segment | Current Period Amount (Yuan) | Proportion of Operating Revenue | Prior Year Amount (Yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Coal | 5,713,667,456.48 | 78.34% | 7,851,991,494.02 | 77.66% | -27.23% | | Chemical | 1,027,928,056.08 | 14.09% | 1,795,232,209.73 | 17.76% | -42.74% | | Building Materials | 516,296,605.99 | 7.08% | 421,252,556.96 | 4.17% | 22.56% | Year-on-Year Changes in Gross Profit Margin of Principal Business | Industry Segment | Operating Revenue Year-on-Year Change | Operating Cost Year-on-Year Change | Gross Profit Margin Year-on-Year Change | | :--- | :--- | :--- | :--- | | Coal | -27.23% | -16.48% | -7.84% | | Chemical | -42.74% | -35.22% | -12.58% | | Building Materials | 22.56% | 17.39% | 3.79% | [Analysis of Non-Principal Business](index=12&type=section&id=IV.%20Analysis%20of%20Non-Principal%20Business) Non-principal businesses had some impact on total profit, with investment income being the largest contributor at **15.41%**, while non-operating expenses accounted for **7.65%** Impact of Non-Principal Business on Total Profit | Item | Amount (Yuan) | Proportion of Total Profit | | :--- | :--- | :--- | | Investment Income | 96,199,086.90 | 15.41% | | Fair Value Change Gains/Losses | -1,174,311.86 | -0.19% | | Non-Operating Expenses | 47,751,887.87 | 7.65% | [Analysis of Assets and Liabilities](index=12&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) The company's total assets slightly increased by **0.44%**, while net assets attributable to shareholders decreased by **9.43%**, with significant changes in construction in progress, long-term borrowings, and other non-current assets Significant Changes in Asset Composition | Item | Current Period-End Amount (Yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 10,517,238,292.99 | 19.68% | -2.33% | | | Construction in Progress | 1,921,546,051.35 | 3.60% | 1.16% | Mainly due to construction in progress not yet capitalized at period-end | | Long-Term Borrowings | 8,533,257,956.41 | 15.97% | 7.27% | Mainly due to increased long-term borrowings by the company | | Notes Receivable | 499,336,893.72 | 0.93% | 0.34% | Mainly due to increased commercial acceptance bills held | | Other Non-Current Assets | 942,902,844.67 | 1.76% | 1.25% | Mainly due to payment for equity | | Non-Current Liabilities Due Within One Year | 2,193,880,138.35 | 4.11% | 1.30% | Mainly due to increased bonds due within one year | - Fixed assets of the company's subsidiaries Hebei Jizhong Hanfeng Mining Co Ltd, Hebei Jizhong New Materials Co Ltd, Shanxi Shouyang Duanwang Coal Industry Group Co Ltd, and the company's own fixed assets were mortgaged for borrowings at the end of the period[42](index=42&type=chunk) - Fixed assets of the company's subsidiary Shanxi Jineng Qinglong Coal Industry Co Ltd were seized due to litigation at the end of the period[42](index=42&type=chunk) - Intangible assets of the company's subsidiary Shanxi Duanwang Coal Industry Group Co Ltd were mortgaged for a loan from China Construction Bank Corporation at the end of the period[43](index=43&type=chunk) [Analysis of Investment Status](index=13&type=section&id=VI.%20Analysis%20of%20Investment%20Status) The company's investment amount for the reporting period was **739.14 million yuan**, a significant **114.24%** increase year-on-year, with no major equity, non-equity, securities, or derivative investments Investment Amount During the Reporting Period | Current Period Investment (Yuan) | Prior Year Investment (Yuan) | Change | | :--- | :--- | :--- | | 739,139,791.00 | 345,000,000.00 | 114.24% | - The company had no securities investments or derivative investments during the reporting period[45](index=45&type=chunk)[46](index=46&type=chunk) [Major Asset and Equity Sales](index=14&type=section&id=VII.%20Major%20Asset%20and%20Equity%20Sales) The company did not undertake any major asset or equity sales during the reporting period - The company did not sell major assets during the reporting period[48](index=48&type=chunk) - The company did not sell major equity during the reporting period[49](index=49&type=chunk) [Analysis of Major Holding and Participating Companies](index=14&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section presents financial data for the company's major subsidiaries and associates, highlighting significant net profit contributions from Jizhong Energy Inner Mongolia Co Ltd and Shanxi Shouyang Duanwang Coal Industry Group Co Ltd, while Jinniu Tiantie Coal Coking Co Ltd and Cangzhou Julong Chemical Co Ltd incurred losses Major Subsidiaries and Associates with Over 10% Impact on Company's Net Profit (Units: 10,000 yuan) | Company Name | Company Type | Principal Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jizhong Energy Inner Mongolia Co Ltd | Subsidiary | Coal sales etc | 220,927.18 | 498,095.81 | 405,408.90 | 96,347.43 | 35,637.25 | 25,922.48 | | Shanxi Shouyang Duanwang Coal Industry Group Co Ltd | Subsidiary | Coal mining; coal wholesale; coal product processing | 18,106.90 | 526,457.14 | 354,331.86 | 99,564.49 | 25,122.16 | 17,559.56 | | Jinniu Tiantie Coal Coking Co Ltd | Subsidiary | Coke and gas manufacturing etc | 66,000.00 | 105,209.75 | 71,190.08 | 78,239.20 | -6,992.47 | -6,992.77 | | Cangzhou Julong Chemical Co Ltd | Subsidiary | Synthetic materials production, sales; chemical products production, sales etc | 30,000.00 | 301,541.95 | -236,272.64 | 24,553.61 | -9,146.41 | -9,763.58 | - The company did not acquire or dispose of subsidiaries during the reporting period[51](index=51&type=chunk) [Information on Structured Entities Controlled by the Company](index=15&type=section&id=IX.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[51](index=51&type=chunk) [Risks Faced by the Company and Countermeasures](index=15&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces market, industry, and safety risks, which it addresses by optimizing industrial layout, strengthening risk control, and enhancing safety management systems - The company faces market and industry risks influenced by global economic conditions, geopolitical conflicts, national industry policies, and environmental standard adjustments[51](index=51&type=chunk) - The company faces safety risks, with increasing threats from water, fire, and gas as mining operations extend, making safety management more challenging[51](index=51&type=chunk) - The company will address risks by optimizing industrial layout, accelerating industrial structure adjustment, strengthening risk control, and improving safety management and risk pre-control systems[51](index=51&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=15&type=section&id=XI.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company approved its Market Value Management System on August 14, 2025, but did not disclose a valuation enhancement plan during the reporting period - The company has formulated the "Jizhong Energy Company Limited Market Value Management System" to strengthen market value management and protect the legitimate rights and interests of the company and investors[52](index=52&type=chunk) - The company did not disclose a valuation enhancement plan[52](index=52&type=chunk) [Implementation of "Dual Improvement in Quality and Returns" Action Plan](index=15&type=section&id=XII.%20Implementation%20of%20%22Dual%20Improvement%20in%20Quality%20and%20Returns%22%20Action%20Plan) The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period - The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan[53](index=53&type=chunk) [Corporate Governance, Environment, and Society](index=16&type=section&id=Item%20IV.%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section covers changes in the company's governance, profit distribution, environmental disclosures, and social responsibility initiatives [Changes in Directors, Supervisors, and Senior Management](index=16&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, there were changes in the company's directors, supervisors, and senior management, including the election of Du Chenxin as employee supervisor and the retirement of Tang Zhishuang - Employee supervisor Du Chenxin was elected, and Tang Zhishuang retired from his position[55](index=55&type=chunk) [Profit Distribution and Capital Reserve Conversion to Share Capital in This Reporting Period](index=16&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20in%20This%20Reporting%20Period) The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[56](index=56&type=chunk) [Implementation of Company's Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=16&type=section&id=III.%20Implementation%20of%20Company%27s%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented during the reporting period[57](index=57&type=chunk) [Environmental Information Disclosure](index=16&type=section&id=IV.%20Environmental%20Information%20Disclosure) The company and its 11 major subsidiaries are included in the list of enterprises required to disclose environmental information, with query indexes provided for their reports - The listed company and its **11** major subsidiaries are included in the list of enterprises required to disclose environmental information by law[58](index=58&type=chunk) - Query indexes for environmental information disclosure reports of each included enterprise are provided[58](index=58&type=chunk) [Social Responsibility](index=16&type=section&id=V.%20Social%20Responsibility) The company actively fulfills its social responsibilities through three village assistance teams, contributing to poverty alleviation and rural revitalization efforts, including solar power station maintenance and infrastructure improvements - The company has three village assistance teams with nine members, providing assistance to Taojiayao Village in Yangyuan County, Zhangjiakou City, and Nangecun and Lihuai Village in Dapingshan Township, Guangzong County, Xingtai City[59](index=59&type=chunk) - The team stationed in Taojiayao Village completed daily maintenance of the **70KW** photovoltaic solar power station, indoor drainage and accessory installation, and established a new small orchard[60](index=60&type=chunk) - The team stationed in Nangecun Village focused on developing income-generating projects such as bicycle small parts workshops, urban employment, sheep farming, and land transfer, while continuously strengthening assistance industries like peach greenhouses, vegetable greenhouses, and the golden pig project[60](index=60&type=chunk) - The team stationed in Lihuai Village completed the repair of **70** streetlights in the village, ensuring the safety of villagers' nighttime travel[60](index=60&type=chunk) [Significant Matters](index=18&type=section&id=Item%20V.%20Significant%20Matters) This section addresses key events and issues, including commitments, related party transactions, and significant investments or disposals [Commitments Fulfilled and Overdue Unfulfilled by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=18&type=section&id=I.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20and%20as%20of%20the%20End%20of%20the%20Reporting%20Period) Commitments made by the controlling shareholder and related parties during asset restructuring, such as avoiding horizontal competition and related party transactions, were generally fulfilled, but the mining permit for Wutongzhuang Mine remains pending - During asset restructuring, Jizhong Energy Fengfeng Group, Hankuang Group, Zhangkuang Group, and other parties committed to avoiding horizontal competition, including terminating entrusted operations of depleted mines and transferring mines with increased reserves to the company[62](index=62&type=chunk) - All committed parties complied with their commitments, but the mining permit for Wutongzhuang Mine, originally belonging to Fengfeng Group, has not yet been processed, meaning the lock-up period for its **100,149,623** shares has not yet begun[62](index=62&type=chunk)[64](index=64&type=chunk) - The controlling shareholder committed not to use its actual control and shareholder status or influence to seek rights superior to market third parties and to conduct transactions with the company at fair market prices[62](index=62&type=chunk) - Jizhong Energy Group and others further clarified the resolution methods for horizontal competition in coal business in 2014, including asset transfer, continuous entrusted management, or preferential transfer of exploration rights to Jizhong Energy[63](index=63&type=chunk) [Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties](index=20&type=section&id=II.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties) The company had no non-operating fund occupation by its controlling shareholder or other related parties during the reporting period - The company had no non-operating fund occupation by its controlling shareholder or other related parties during the reporting period[65](index=65&type=chunk) [Irregular External Guarantees](index=20&type=section&id=III.%20Irregular%20External%20Guarantees) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[66](index=66&type=chunk) [Appointment and Dismissal of Accounting Firms](index=20&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual report was not audited - The company's semi-annual report was not audited[67](index=67&type=chunk) [Board of Directors' and Supervisory Committee's Explanation of "Non-Standard Audit Report" for This Reporting Period](index=20&type=section&id=V.%20Board%20of%20Directors%27%20and%20Supervisory%20Committee%27s%20Explanation%20of%20%22Non-Standard%20Audit%20Report%22%20for%20This%20Reporting%20Period) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[68](index=68&type=chunk) [Board of Directors' Explanation of "Non-Standard Audit Report" for the Previous Year](index=20&type=section&id=VI.%20Board%20of%20Directors%27%20Explanation%20of%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Previous%20Year) The company had no explanation regarding a non-standard audit report for the previous year during the reporting period - The company had no explanation regarding a non-standard audit report for the previous year during the reporting period[68](index=68&type=chunk) [Bankruptcy and Reorganization Matters](index=20&type=section&id=VII.%20Bankruptcy%20and%20Reorganization%20Matters) The company had no bankruptcy and reorganization matters during the reporting period - The company had no bankruptcy and reorganization matters during the reporting period[69](index=69&type=chunk) [Litigation Matters](index=21&type=section&id=VIII.%20Litigation%20Matters) The company had no significant litigation or arbitration matters during the reporting period - The company had no significant litigation or arbitration matters during the reporting period[70](index=70&type=chunk) [Penalties and Rectification](index=21&type=section&id=IX.%20Penalties%20and%20Rectification) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[70](index=70&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=21&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) During the reporting period, neither the company nor its controlling shareholder had unfulfilled court judgments or large overdue debts - During the reporting period, neither the company nor its controlling shareholder had unfulfilled court judgments or large overdue debts[71](index=71&type=chunk) [Significant Related Party Transactions](index=21&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) The company engaged in various daily related party transactions, including sales, purchases, and leases, with some exceeding approved limits, and also undertook significant equity acquisitions and capital injections into a financial company - The company engaged in daily related party transactions with related parties, including sales of goods or provision of services to related parties, and purchases of goods or acceptance of services from related parties, with some transaction amounts exceeding approved limits[72](index=72&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk) - On July 11, 2025, the company approved the related party transaction to acquire **49%** equity of Jingneng Xilingol Energy Co Ltd for **668.568201 million yuan**[81](index=81&type=chunk) - On April 22, 2025, the company approved the related party transaction for the financial company to increase its registered capital by **1 billion yuan** using undistributed profits, with the company contributing **350 million yuan**[81](index=81&type=chunk) Dealings with Related Financial Companies (Units: 10,000 yuan) | Related Party | Related Relationship | Daily Maximum Deposit Limit | Deposit Interest Rate Range | Beginning Balance | Total Deposits This Period | Total Withdrawals This Period | Ending Balance | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jizhong Energy Group Finance Co Ltd | Same parent company | 700,000 | 0.35%-1.70% | 692,789.81 | 3,956,781.92 | 3,961,204.46 | 688,367.27 | | **Loan Business** | | | | | | | | | Jizhong Energy Group Finance Co Ltd | Same parent company control | 750,000 | 2.50% | 16,000 | 10,000 | 16,000 | 10,000 | | **Credit or Other Financial Services** | | | | | | | | | Jizhong Energy Group Finance Co Ltd | Same parent company control | Credit | 750,000 | 10,000 | | | | [Significant Contracts and Their Performance](index=25&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no entrustment or contracting situations but continued to perform state-owned land and property leases. It provided **1.632 billion yuan** in guarantees for subsidiaries, representing **8.61%** of its net assets, and held **300 million yuan** in outstanding broker wealth management products - The company had no entrustment or contracting situations during the reporting period[83](index=83&type=chunk)[84](index=84&type=chunk) - The company continued to perform lease agreements for state-owned land, property lease contracts, and comprehensive service related transaction framework agreements during the reporting period[85](index=85&type=chunk) Company Guarantees for Subsidiaries (Units: 10,000 yuan) | Guaranteed Entity Name | Guarantee Amount | Actual Guarantee Amount | Guarantee Type | Guarantee Period | Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | Hebei Jizhong New Materials Co Ltd | 10,000 | 10,000 | Joint liability guarantee | 1 year | No | | Hebei Jizhong New Materials Co Ltd | 110,000 | 49,288.45 | Joint liability guarantee | 9 years | No | | Hebei Jizhong New Materials Co Ltd | 30,000 | 26,000 | Joint liability guarantee | 5 years | No | | Hebei Jizhong New Materials Co Ltd | 30,000 | 17,929.38 | Joint liability guarantee | 5 years | No | | Hebei Jizhong New Materials Co Ltd | 15,000 | 15,000 | Joint liability guarantee | 5 years | No | | Hebei Jizhong Hanfeng Mining Co Ltd | 50,000 | 45,000 | Joint liability guarantee | 5 years | No | | **Total Actual Guarantee Balance for Subsidiaries at Period-End** | **270,000** | **163,217.83** | | | | | **Ratio of Total Actual Guarantee to Company's Net Assets** | | **8.61%** | | | | Entrusted Wealth Management (Units: 10,000 yuan) | Specific Type | Source of Entrusted Funds | Amount of Entrusted Wealth Management | Outstanding Balance | Overdue Unrecovered Amount | | :--- | :--- | :--- | :--- | :--- | | Broker wealth management products | Own funds | 10,000 | 30,000 | 0 | [Explanation of Other Significant Matters](index=26&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) The company had no other significant matters requiring explanation during the reporting period - The company had no other significant matters requiring explanation during the reporting period[91](index=91&type=chunk) [Significant Matters of Company Subsidiaries](index=26&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) The company planned to publicly transfer **90%** equity and related claims of Shanxi Jineng Qinglong Coal Industry Co Ltd for **2.1163358 billion yuan**, but the transfer was terminated due to a lack of qualified bidders, and Qinglong Coal Industry is now seeking to resume operations - The company intended to publicly transfer its **90%** equity in Shanxi Jineng Qinglong Coal Industry Co Ltd and its claims against it on the Hebei Property Rights Exchange Co Ltd, with a listing price of **2.1163358 billion yuan**[93](index=93&type=chunk) - As of the expiration of the listing period, no qualified interested transferees were found, and the company decided to terminate the listing transfer[93](index=93&type=chunk) - Currently, Qinglong Coal Industry is applying to relevant authorities for resumption of work and reconstruction[93](index=93&type=chunk) [Share Changes and Shareholder Information](index=28&type=section&id=Item%20VI.%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital, shareholder structure, and the holdings of directors, supervisors, and senior management [Share Change Status](index=28&type=section&id=I.%20Share%20Change%20Status) The company's total share capital remained unchanged, with a decrease of **3,075** restricted shares and an increase of **3,075** unrestricted shares, primarily due to the release of restricted shares held by Wang Yumin upon his departure as a director Share Change Status (Units: Shares) | | Quantity Before Change | Proportion Before Change | Change (Increase +, Decrease -) Subtotal | Quantity After Change | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 100,152,698 | 2.83% | -3,075 | 100,149,623 | 2.83% | | II. Unrestricted Shares | 3,433,394,152 | 97.17% | 3,075 | 3,433,397,227 | 97.17% | | III. Total Shares | 3,533,546,850 | 100.00% | 0 | 3,533,546,850 | 100.00% | - The change in restricted shares was primarily due to Wang Yumin no longer serving as a company director, leading to the release of his **3,075** restricted shares[98](index=98&type=chunk) [Securities Issuance and Listing](index=29&type=section&id=II.%20Securities%20Issuance%20and%20Listing) The company had no securities issuance or listing during the reporting period - The company had no securities issuance or listing during the reporting period[99](index=99&type=chunk) [Number of Shareholders and Shareholding Status](index=29&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Status) As of the end of the reporting period, the company had **76,525** common shareholders. Jizhong Energy Group Co Ltd is the largest shareholder with **33.72%** of shares, and some shares of Fengfeng Group and Zhangjiakou Mining Group are pledged or frozen - The total number of common shareholders at the end of the reporting period was **76,525**[100](index=100&type=chunk) Shareholding Status of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Proportion | Number of Shares Held at Period-End | Number of Restricted Shares Held | Number of Unrestricted Shares Held | Share Status | Quantity | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jizhong Energy Group Co Ltd | State-owned legal person | 33.72% | 1,191,341,498 | 0 | 1,191,341,498 | Not applicable | 0 | | Jizhong Energy Fengfeng Group Co Ltd | State-owned legal person | 16.90% | 597,142,952 | 100,149,623 | 496,993,329 | Pledged | 298,571,476 | | Hebei Expressway Group Co Ltd | State-owned legal person | 14.43% | 510,000,000 | 0 | 510,000,000 | Not applicable | 0 | | Jizhong Energy Handan Mining Group Co Ltd | State-owned legal person | 6.88% | 243,252,041 | 0 | 243,252,041 | Pledged | 111,603,200 | | Jizhong Energy Zhangjiakou Mining Group Co Ltd | State-owned legal person | 0.57% | 20,000,000 | 0 | 20,000,000 | Frozen | 7,500,000 | | | | | | | | Pledged | 10,000,000 | - Among the top 10 shareholders, Fengfeng Group, Hankuang Group, and Zhangkuang Group are controlling subsidiaries of Jizhong Energy Group[100](index=100&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=30&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period, as detailed in the 2024 annual report - The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period, as detailed in the 2024 annual report[102](index=102&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=31&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) The company's controlling shareholder and actual controller remained unchanged during the reporting period - The company's controlling shareholder remained unchanged during the reporting period[103](index=103&type=chunk) - The company's actual controller remained unchanged during the reporting period[103](index=103&type=chunk) [Preferred Share Information](index=31&type=section&id=VI.%20Preferred%20Share%20Information) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[104](index=104&type=chunk) [Bond-Related Information](index=32&type=section&id=Item%20VII.%20Bond-Related%20Information) This section provides details on the company's bond issuances, including corporate bonds, non-financial enterprise debt financing instruments, and their credit ratings [Corporate Bonds](index=32&type=section&id=I.%20Corporate%20Bonds) The company had no corporate bonds during the reporting period - The company had no corporate bonds during the reporting period[106](index=106&type=chunk) [Company Bonds](index=32&type=section&id=II.%20Company%20Bonds) The company had no company bonds during the reporting period - The company had no company bonds during the reporting period[107](index=107&type=chunk) [Non-Financial Enterprise Debt Financing Instruments](index=32&type=section&id=III.%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) The company issued multiple tranches of medium-term notes and super short-term commercial papers with significant outstanding balances and interest rates ranging from **2.39%** to **3.34%**, and maintained its credit rating Basic Information on Non-Financial Enterprise Debt Financing Instruments (Units: 10,000 yuan) | Bond Abbreviation | Bond Name | Bond Code | Issue Date | Interest Commencement Date | Maturity Date | Bond Balance | Interest Rate | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 24 Jizhong Energy MTN001 | Jizhong Energy Co Ltd 2024 First Tranche Medium-Term Note (Tranche 1) | 102480629 | February 28, 2024 | February 29, 2024 | February 28, 2026 | 70,672 | 2.88% | | 24 Jizhong Energy MTN001 | Jizhong Energy Co Ltd 2024 First Tranche Medium-Term Note (Tranche 2) | 102480630 | February 28, 2024 | February 29, 2024 | February 28, 2027 | 50,525 | 3.15% | | 24 Jizhong Energy MTN002 | Jizhong Energy Co Ltd 2024 Second Tranche Medium-Term Note | 102483126 | July 18, 2024 | July 19, 2024 | July 19, 2029 | 51,670 | 3.34% | | 24 Jizhong Energy MTN003 | Jizhong Energy Co Ltd 2024 Third Tranche Medium-Term Note (Tranche 1) | 102484973 | November 15, 2024 | November 18, 2024 | November 18, 2026 | 40,637.33 | 2.39% | | 24 Jizhong Energy MTN003 | Jizhong Energy Co Ltd 2024 Third Tranche Medium-Term Note (Tranche 2) | 102484974 | November 15, 2024 | November 18, 2024 | November 18, 2026 | 40,746.67 | 2.80% | - On May 22 and July 1, 2024, the company announced interest rate reductions for medium-term notes 23 Jizhong Energy Shares MTN001 and MTN002, triggering investor put options, resulting in full redemption of some bonds[111](index=111&type=chunk)[112](index=112&type=chunk) - The company's credit rating results remained unchanged during the reporting period[113](index=113&type=chunk) [Convertible Corporate Bonds](index=34&type=section&id=IV.%20Convertible%20Corporate%20Bonds) The company had no convertible corporate bonds during the reporting period - The company had no convertible corporate bonds during the reporting period[114](index=114&type=chunk) [Consolidated Statement Scope Loss Exceeding 10% of Net Assets at End of Previous Year](index=34&type=section&id=V.%20Consolidated%20Statement%20Scope%20Loss%20Exceeding%2010%25%20of%20Net%20Assets%20at%20End%20of%20Previous%20Year) The company's consolidated statement scope loss did not exceed **10%** of net assets at the end of the previous year during the reporting period - The company's consolidated statement scope loss did not exceed **10%** of net assets at the end of the previous year during the reporting period[115](index=115&type=chunk) [Key Accounting Data and Financial Indicators for the Company's Last Two Years as of the End of the Reporting Period](index=34&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators%20for%20the%20Company%27s%20Last%20Two%20Years%20as%20of%20the%20End%20of%20the%20Reporting%20Period) Key financial indicators for the past two years show a significant **67.28%** year-on-year decrease in net profit after non-recurring items, a **4.95%** increase in asset-liability ratio, and substantial declines in interest coverage and cash interest coverage ratios Key Accounting Data and Financial Indicators for the Last Two Years (Units: 10,000 yuan) | Item | Current Period-End | Prior Year-End | Current Period-End vs Prior Year-End Change | | :--- | :--- | :--- | :--- | | Current Ratio | 0.87 | 0.90 | -3.33% | | Asset-Liability Ratio | 59.66% | 54.71% | 4.95% | | Quick Ratio | 0.78 | 0.82 | -4.88% | | **Item** | **Current Period** | **Prior Year** | **Current Period vs Prior Year Change** | | Net Profit After Non-Recurring Items | 32,712.05 | 99,963.12 | -67.28% | | EBITDA to Total Debt Ratio | 6.35% | 10.68% | -4.33% | | Interest Coverage Ratio | 3.04 | 5.92 | -48.65% | | Cash Interest Coverage Ratio | 3.68 | 6.38 | -42.32% | | EBITDA Interest Coverage Ratio | 6.62 | 9.07 | -27.01% | | Loan Repayment Rate | 100.00% | 100.00% | 0.00% | | Interest Payment Rate | 100.00% | 100.00% | 0.00% | [Financial Report](index=35&type=section&id=Item%20VIII.%20Financial%20Report) This section presents the company's unaudited financial statements, including balance sheets, income statements, cash flow statements, and notes on accounting policies [Audit Report](index=35&type=section&id=I.%20Audit%20Report) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[118](index=118&type=chunk) [Financial Statements](index=35&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, reflecting the financial position and operating results at the end of the reporting period Consolidated Balance Sheet (Period-End Balance, Units: Yuan) | Item | Period-End Balance | | :--- | :--- | | Monetary Funds | 10,517,238,292.99 | | Trading Financial Assets | 299,999,996.23 | | Notes Receivable | 499,336,893.72 | | Accounts Receivable | 3,211,500,345.51 | | Inventories | 1,848,619,931.09 | | Long-Term Equity Investments | 6,404,766,953.55 | | Fixed Assets | 20,300,873,487.79 | | Construction in Progress | 1,921,546,051.35 | | Intangible Assets | 4,835,490,794.85 | | Total Assets | 53,428,261,712.86 | | Short-Term Borrowings | 8,998,311,859.80 | | Notes Payable | 433,468,493.75 | | Accounts Payable | 5,623,388,787.82 | | Contract Liabilities | 734,932,906.85 | | Non-Current Liabilities Due Within One Year | 2,193,880,138.35 | | Long-Term Borrowings | 8,533,257,956.41 | | Bonds Payable | 1,835,790,000.00 | | Total Liabilities | 31,873,233,966.32 | | Total Owners' Equity Attributable to Parent Company | 18,967,225,405.71 | | Total Owners' Equity | 21,555,027,746.54 | Consolidated Income Statement (H1 2025, Units: Yuan) | Item | H1 2025 | | :--- | :--- | | I. Total Operating Revenue | 7,293,306,657.99 | | II. Total Operating Costs | 6,811,235,304.16 | | III. Operating Profit (Loss indicated by "—") | 667,453,315.64 | | IV. Total Profit (Total loss indicated by "—") | 624,347,163.37 | | V. Net Profit (Net loss indicated by "—") | 461,541,710.98 | | Net Profit Attributable to Parent Company Shareholders | 348,089,099.10 | | Minority Interest Income/Loss | 113,452,611.88 | | VIII. Earnings Per Share: Basic Earnings Per Share | 0.0985 | | VIII. Earnings Per Share: Diluted Earnings Per Share | 0.0985 | Consolidated Cash Flow Statement (H1 2025, Units: Yuan) | Item | H1 2025 | | :--- | :--- | | Net Cash Flow from Operating Activities | 594,818,147.08 | | Net Cash Flow from Investing Activities | -2,409,501,132.31 | | Net Cash Flow from Financing Activities | 126,179,233.21 | | Net Increase in Cash and Cash Equivalents | -1,688,487,644.46 | [Company Basic Information](index=51&type=section&id=III.%20Company%20Basic%20Information) The company, established in 1999 and renamed Jizhong Energy Co Ltd in 2010, has a registered capital of **3.534 billion yuan**, with Yan Yunsheng as its legal representative, primarily engaged in coal mining, processing, and sales, as well as chemical and building materials production - Jizhong Energy Company Limited was established on August 26, 1999, and listed on the Shenzhen Stock Exchange on September 9, 1999[154](index=154&type=chunk) - The company's name changed from "Hebei Jinniu Energy Company Limited" to "Jizhong Energy Company Limited" in 2010[157](index=157&type=chunk) - The company's registered capital is **3,533,546,850 yuan**, and its legal representative is Yan Yunsheng[159](index=159&type=chunk)[160](index=160&type=chunk) - The company and its subsidiaries operate in energy, chemical, and building materials industries, primarily engaged in coal mining, processing, and sales; production and sales of chemical products such as PVC resin and coke; and production and sales of building materials such as glass fiber[160](index=160&type=chunk) [Basis of Financial Statement Preparation](index=52&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, adhering to enterprise accounting standards and CSRC disclosure regulations, primarily using the accrual basis and historical cost - The company's financial statements are prepared on a going concern basis, in accordance with actual transactions and events, and based on enterprise accounting standards issued by the Ministry of Finance and disclosure regulations of the China Securities Regulatory Commission[161](index=161&type=chunk) - The company's accounting is based on the accrual method, and except for some financial instruments, these financial statements are measured primarily at historical cost[161](index=161&type=chunk) [Significant Accounting Policies and Accounting Estimates](index=52&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Accounting%20Estimates) This section details the company's accounting policies and estimates for business combinations, financial instruments, inventories, fixed assets, intangible assets, revenue recognition, and government grants, emphasizing the expected credit loss model and various amortization methods - The company's materiality standards include: significant individually impaired accounts receivable and other receivables exceeding **10 million yuan**; significant construction in progress projects with budgets exceeding **200 million yuan**; significant investment activities with single investment payments exceeding **200 million yuan**[167](index=167&type=chunk) - Financial assets and liabilities are measured at fair value upon initial recognition, with subsequent measurement depending on their classification, and impairment accounting is based on the expected credit loss model[181](index=181&type=chunk)[185](index=185&type=chunk) - Fixed assets are depreciated using the straight-line method, mine roadways use the unit-of-production method, and buildings and structures have depreciation periods of **20-45 years**, while machinery and equipment have **8-18 years**[206](index=206&type=chunk) - Intangible assets (such as land use rights, mining rights, software) are amortized using the straight-line method or unit-of-production method, with mining rights having useful lives of **6-30 years**[212](index=212&type=chunk) - Revenue is recognized when performance obligations in the contract are satisfied, i.e., when the customer obtains control of the related goods or services[226](index=226&type=chunk) - Government grants are classified as asset-related or income-related, recognized using the gross method, either as deferred income or directly into current profit or loss[229](index=229&type=chunk)[230](index=230&type=chunk) - Safety production fees and maintenance funds are accrued at **5-50 yuan/ton** and **8.5-10 yuan/ton**, respectively, charged to relevant product costs or current profit/loss, and simultaneously recorded in the "Special Reserve" account[245](index=245&type=chunk) [Taxation](index=69&type=section&id=VI.%20Taxation) The company's main taxes include VAT, urban maintenance and construction tax, and corporate income tax, benefiting from various preferential policies such as VAT exemption for residential heating and reduced corporate income tax for high-tech enterprises Major Taxes and Tax Rates | Tax Type | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable value-added | 3%, 5%, 6%, 9%, 13% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 1%, 5%, 7% | | Corporate Income Tax | Taxable income | 15%, 25% | - The company's heating fee income from residential heating is exempt from VAT, and the factory buildings and land used for residential heating are exempt from property tax and urban land use tax[249](index=249&type=chunk) - Subsidiary Xingtai Jinniu Hotel Management Co Ltd qualifies as a small-profit enterprise and pays corporate income tax at a reduced rate of **20%**[249](index=249&type=chunk) - Subsidiaries Hebei Jizhong New Materials Co Ltd and Cangzhou Julong Chemical Co Ltd enjoy a preferential corporate income tax rate of **15%** as high-tech enterprises[250](index=250&type=chunk) - For the purchase of special equipment used for environmental protection, energy and water conservation, and safety production, **10%** of the investment amount can be offset against the enterprise's current year's taxable income[250](index=250&type=chunk) [Notes to Consolidated Financial Statement Items](index=70&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on consolidated financial statement items, including **10.517 billion yuan** in monetary funds (with **1.465 billion yuan** restricted), **3.212 billion yuan** in accounts receivable, significant long-term borrowings and bonds payable, **7.293 billion yuan** in operating revenue, **348 million yuan** in net profit, and **595 million yuan** in net cash flow from operating activities - Monetary funds at period-end totaled **10.517 billion yuan**, of which **1.465 billion yuan** were restricted, primarily for land reclamation, mine environmental governance deposits, and bank acceptance bill pledges[253](index=253&type=chunk) - Accounts receivable at period-end totaled **3.212 billion yuan**, with the top five customers accounting for **63.73%** of the total[274](index=274&type=chunk) - Short-term borrowings at period-end totaled **8.998 billion yuan**, including **115 million yuan** in secured loans, **100 million yuan** in guaranteed loans, and **8.783 billion yuan** in credit loans[351](index=351&type=chunk) - Long-term borrowings at period-end totaled **8.533 billion yuan**, including **1.614 billion yuan** in secured loans, **753 million yuan** in guaranteed loans, and **7.300 billion yuan** in credit loans[388](index=388&type=chunk) - Bonds payable at period-end totaled **1.836 billion yuan**, primarily consisting of multiple tranches of medium-term notes[391](index=391&type=chunk) - Operating revenue for the current period was **7.293 billion yuan**, operating costs were **5.093 billion yuan**, and principal business revenue accounted for **94.93%**[433](index=433&type=chunk) - Investment income for the current period was **96.20 million yuan**, mainly from long-term equity investments accounted for using the equity method[448](index=448&type=chunk) - Net cash flow from operating activities was **595 million yuan**, net cash flow from investing activities was **-2.410 billion yuan**, and net cash flow from financing activities was **126 million yuan**[472](index=472&type=chunk) [Research and Development Expenses](index=108&type=section&id=VIII.%20Research%20and%20Development%20Expenses) The company's total R&D expenditure for the reporting period was **222 million yuan**, entirely expensed, representing a significant **57.90%** year-on-year decrease, primarily comprising staff salaries, material costs, utilities, and depreciation Research and Development Expenses (Units: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Staff Salaries | 94,656,631.53 | 187,349,454.80 | | Material Costs | 97,930,623.91 | 271,954,616.84 | | Utilities | 19,502,204.77 | 28,668,841.95 | | Depreciation and Amortization | 6,369,913.21 | 15,567,927.76 | | Research and Development Fees | 3,262,945.38 | 23,057,642.15 | | Other Daily Office Expenses | 4,090.16 | 7,743.47 | | **Total** | **221,726,408.96** | **526,606,226.97** | | Of which: Expensed R&D Expenditure | 221,726,408.96 | 526,606,226.97 | - Current period R&D expenditure decreased by **57.90%** year-on-year, mainly due to reduced R&D investment[34](index=34&type=chunk)[477](index=477&type=chunk) [Interests in Other Entities](index=108&type=section&id=IX.%20Interests%20in%20Other%20Entities) The company holds interests in **10** subsidiaries primarily engaged in coal mining, coking, chemicals, and non-metallic materials, with significant net profit contributions from Shanxi Shouyang Duanwang Coal Industry Group Co Ltd and Jizhong Energy Inner Mongolia Co Ltd, while Jinniu Tiantie Coal Coking Co Ltd and Shanxi Jineng Qinglong Coal Industry Co Ltd incurred losses - The company owns **10** subsidiaries, including Shanxi Shouyang Duanwang Coal Industry Group Co Ltd, Xingtai Dongpang Tongda Coal Power Co Ltd, and Jizhong Energy Inner Mongolia Co Ltd[478](index=478&type=chunk) - Shanxi Shouyang Duanwang Coal Industry Group Co Ltd has a minority shareholder stake of **16.05%**, with **74,396,015.66 yuan** of profit attributable to minority shareholders in the current period[480](index=480&type=chunk) - Jinniu Tiantie Coal Coking Co Ltd and Shanxi Jineng Qinglong Coal Industry Co Ltd reported negative net profits for the current period, at **-69,927,683.45 yuan** and **-21,576,480.30 yuan**, respectively[484](index=484&type=chunk) - The company's significant associates include Jizhong Energy Group Finance Co Ltd, North China Pharmaceutical Co Ltd, Xingtai Jinyu Yongning Cement Co Ltd, and North China Medical Health Industry Group Co Ltd, all accounted for using the equity method[485](index=485&type=chunk) - Jizhong Energy Group Finance Co Ltd reported a net profit of **130,762,031.68 yuan** for the current period, and North China Pharmaceutical Co Ltd reported a net profit of **162,286,856.60 yuan**[489](index=489&type=chunk) [Risks Related to Financial Instruments](index=111&type=section&id=X.%20Risks%20Related%20to%20Financial%20Instruments) The company primarily faces credit and liquidity risks, managed through credit assessment, monitoring, and maintaining sufficient cash and credit lines; as of the reporting period, unused credit facilities totaled **13.729 billion yuan**, with an asset-liability ratio of **59.66%** - The main risks arising from the company's financial instruments are credit risk and liquidity risk[490](index=490&type=chunk) - Credit risk primarily arises from bank deposits, notes receivable, accounts receivable, accounts receivable financing, and other receivables, which the company controls through customer credit assessment and regular monitoring[492](index=492&type=chunk) - Liquidity risk is managed by maintaining and monitoring sufficient cash and cash equivalents as deemed appropriate by management; as of June 30, 2025, the company's unused credit financing limit was **13.729 billion yuan**[493](index=493&type=chunk) - The company monitors its capital structure based on the asset-liability ratio (total liabilities divided by total assets), which was **59.66%** as of June 30, 2025[495](index=495&type=chunk) [Disclosure of Fair Value](index=112&type=section&id=XI.%20Disclosure%20of%20Fair%20Value) The company's financial assets and liabilities measured at fair value primarily include trading financial assets, accounts receivable financing, other equity instrument investments, and other non-current financial assets, using Level 3 fair value measurement for most, and Level 2 for accounts receivable financing Items and Amounts Measured at Fair Value (June 30, 2025, Units: Yuan) | Item | Level 1 Fair Value Measurement | Level 2 Fair Value Measurement | Level 3 Fair Value Measurement | Total | | :--- | :--- | :--- | :--- | :--- | | (I) Trading Financial Assets | -- | -- | 299,999,996.23 | 299,999,996.23 | | (II) Accounts Receivable Financing | -- | 229,686,847.21 | -- | 229,686,847.21 | | (III) Other Equity Instrument Investments | -- | -- | 203,839,070.86 | 203,839,070.86 | | (IV) Other Non-Current Financial Assets | -- | -- | 434,225,990.92 | 434,225,990.92 | - During the current year, there were no transfers between Level 1 and Level 2 fair value measurements for the company's financial assets and liabilities, nor any transfers into or out of Level 3[497](index=497&type=chunk) [Related Parties and Related Party Transactions](index=113&type=section&id=XII.%20Related%20Parties%20and%20Related%20Party%20Transactions) The company's parent is Jizhong Energy Group Co Ltd, with the ultimate control by the Hebei Provincial People's Government State-owned Assets Supervision and Administration Commission. The company engages in various daily related party transactions, including sales, purchases, and leases, with some exceeding approved limits, and has financial dealings with related financial companies. Commitments made by the controlling shareholder during asset restructuring are generally fulfilled, but the mining right transfer for Wutongzhuang Mine is still pending - The company's parent company is Jizhong Energy Group Co Ltd, and the ultimate controlling party is the State-owned Assets Supervision and Administration Commission of Hebei Provincial People's Government[498](index=498&type=chunk) - The company engages in related party transactions with numerous related parties, including Jizhong Energy Fengfeng Group, Hankuang Group, and Xingkuang Group, involving sales and purchases of goods, and provision and acceptance of services, with some procurement and sales amounts exceeding approved limits[505](index=505&type=chunk)[506](index=506&type=chunk) - As a lessee, the company leases equipment, buildings and structures, and land from Xingtai Zhangtai Mining Co Ltd, Jizhong Energy Xingtai Mining Group Co Ltd, Jizhong Energy Fengfeng Group Co Ltd, and Jizhong Energy Handan Mining Group Co Ltd[510](index=510&type=chunk) - The company has intercompany borrowings with Shanxi Jizhong Energy Group Mining Co Ltd and Jizhong Energy Group Finance Co Ltd[512](index=512&type=chunk) - The controlling shareholder's commitments made during the 2009 and 2014 asset restructurings, including avoiding horizontal competition, related party transactions, and ensuring the independence of the listed company, have been fulfilled on time, but the mining right transfer for Wutongzhuang Mine has not yet been completed[520](index=520&type=chunk)[521](index=521&type=chunk)[522](index=522&type=chunk)[523](index=523&type=chunk)[524](index=524&type=chunk) [Commitments and Contingencies](index=122&type=section&id=XIII.%20Commitments%20and%20Contingencies) As of the reporting period, the company had capital commitments for long-term asset construction totaling **1.202 billion yuan** and provided loan guarantees of **1.632 billion yuan** for subsidiaries, with no other significant contingent matters to disclose Capital Commitments Signed but Not Yet Recognized in Financial Statements (Units: Yuan) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Commitments for construction of long-term assets | 1,202,141,416.31 | 1,572,431,886.43 | Loan Guarantees Provided for the Following Entities (Units: Yuan) | Guaranteed Entity Name | Guarantee Matter | Amount | | :--- | :--- | :--- | | Hebei Jizhong New Materials Co Ltd | Short-term loan | 100,000,000.00 | | Hebei Jizhong New Materials Co Ltd | Long-term loan | 492,884,491.64 | | Hebei Jizhong New Materials Co Ltd | Long-term loan | 260,000,000.00 | | Hebei Jizhong New Materials Co Ltd | Long-term loan | 85,829,362.54 | | Hebei Jizhong New Materials Co Ltd | Long-term loan | 93,464,473.65 | | Hebei Jizhong New Materials Co Ltd | Long-term loan | 150,000,000.00 | | Hebei Jizhong Hanfeng Mining Co Ltd | Long-term loan | 450,000,000.00 | | **Total** | | **1,632,178,327.83** | - The company had no other significant contingent matters requiring disclosure[530](index=530&type=chunk) [Post-Balance Sheet Events](index=123&type=section&id=XIV.%20Post-Balance%20Sheet%20Events) As of August 14, 2025, the company had no other post-balance sheet events requiring disclosure - As of August 14, 2025, the company had no other post-balance sheet events requiring disclosure[531](index=531&type=chunk) [Other Significant Matters](index=123&type=section&id=XV.%20Other%20Significant%20Matters) The company's operations ar
冀中能源(000937) - 冀中能源集团财务有限责任公司二O二五年六月三十日风险评估审核报告
2025-08-15 08:32
冀中能源集团财务有限责任公司 中兴财光华审专字(2025)第 213179 号 冀中能源股份有限公司: 二O二五年六月三十日风险评估 审核报告 中兴财光华审专字(2025)第 213179 号 1 冀中能源集团财务有限责任公司 二O二五年六月三十日风险评估 审核报告 我们接受委托,审核了冀中能源集团财务有限责任公司(以下简称"财务公 司")管理层对财务公司 2025 年 6 月 30 日与其经营资质、业务和风险状况相关 的风险评估说明。提供真实、合法、完整的资料,建立健全并合理设计风险管理 制度以及保持其有效性,是财务公司管理层的责任。我们的责任是对财务公司所 做的与其经营资质、业务和风险状况相关的风险评估说明发表意见。 我们在审核过程中,实施了包括了解、测试和评价财务公司与其经营资质、 业务和风险状况相关的各项内部控制制度设计的合理性和执行情况,以及我们认 为必要的其他审核程序。我们相信,我们的审核为发表审核意见提供了合理的基 础。 经审核,我们认为: 一、财务公司具有合法有效的《金融许可证》、《企业法人营业执照》。 二、未发现财务公司存在违反中国银行保险监督管理委员会颁布的《企业集 团财务公司管理办法》规 ...
冀中能源(000937) - 独立董事专门会议2025年第四次会议审核意见
2025-08-15 08:31
冀中能源股份有限公司独立董事专门会议 2025 年第四次会议审核意见 独立董事:谢宏 梁俊娇 胡晓珂 胡传雨 2025 年 8 月 14 日 根据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司治理准则》《上市公司独立董事管理办法》 及《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》等相关法律法规、规范性文件的规定, 冀中能源股份有限公司(以下简称"公司")独立董事于 2025 年 8 月 14 日以通讯方式召开独立董事专门会议 2025 年第四 次会议,会议应到 4 人,实到 4 人。独立董事本着实事求是、 认真负责的态度,公平、公正、诚实信用的原则,基于独立 判断的立场,对公司第八届董事会第十五次会议相关事项进 行了认真审核,并发表审核意见如下: 一、关于财务公司风险评估报告的审核意见 我们认真审阅了公司提交的《关于财务公司风险评估报 告的议案》文件,并听取相关人员介绍情况后,认为:中兴 财光华会计师事务所(特殊普通合伙)出具的《冀中能源集 团财务有限责任公司二〇二五年六月三十日风险评估审核 报告》(中兴财光华审专字【2025】第 213179 号)。充分反 映了截至 ...
冀中能源(000937) - 市值管理制度
2025-08-15 08:31
第二章 市值管理的目的与基本原则 第三条 市值管理的主要目的是通过完善公司治理、合 规信息披露、改进经营管理、培育核心竞争力,可持续地创 造公司价值,以及通过资本运作、权益管理、投资者关系管 理等手段提升公司市场形象与品牌价值,使公司价值得以充 分实现,达到公司整体利益最大化和股东财富增长并举的目 标。 第四条 市值管理的基本原则: 冀中能源股份有限公司 市值管理制度 第一章 总则 第一条 为加强冀中能源股份有限公司(以下简称"公 司")市值管理工作,进一步规范公司的市值管理行为,维 护公司、投资者及其他利益相关者的合法权益,公司依据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公 司监管指引第 10 号——市值管理》等有关法律法规,结合 公司实际情况,制订本制度。 第二条 本制度所指市值管理,是指公司以提高公司质 量为基础,为提升公司投资价值和股东回报能力而实施的战 略管理行为。 (一)合规性原则。公司应当在严格遵守相关法律法规、 规范性文件、自律监管规则以及《公司章程》等内部规章制 度的前提下开展市值管理工作。 1 (二)科学性原则。公司的市值管理应当采用科学的、 系统的方式开展,以确保市值管理 ...
冀中能源:公司煤炭价格有所上调
Zheng Quan Ri Bao· 2025-08-13 13:11
(文章来源:证券日报) 证券日报网讯冀中能源8月13日在互动平台回答投资者提问时表示,近期,受超产核查、电煤需求旺季 等因素的推动,公司煤炭价格有所上调。关于收购锡盟电厂49%股权事宜,公司正在办理登记变更手 续。 ...
华北制药: 关于冀中能源集团财务有限责任公司的风险持续评估报告
Zheng Quan Zhi Xing· 2025-08-13 11:11
华北制药股份有限公司 关于冀中能源集团财务有限责任公司的 风险持续评估报告 根据《上海证券交易所上市公司自律监管指引第5号— —交易与关联交易》的要求,华北制药股份有限公司(以下简 称"华北制药"或"公司")通过查验冀中能源集团财务有限 责任公司(以下简称"财务公司")的《金融许可证》、《企 业法人营业执照》等证件资料,并审阅包括资产负债表、利 润表、现金流量表等在内的财务公司的定期财务报告,对其 经营资质、业务和风险状况进行了评估,具体情况报告如下: 一、财务公司基本情况 财务公司前身为华北制药集团财务有限责任公司,是经 中国人民银行(银复[1993]245号)批准成立,1998年8月18 日取得《企业法人营业执照》(统一社会信用代码 文件要求,冀中能源集团有限责任公司(以下简称"冀中能 源集团")对华北制药集团有限责任公司实施了战略重组, 并收购其持有华北制药集团财务有限责任公司的股份成为 华北制药集团财务有限责任公司股东。2009年,经中国银行 业监督管理委员会河北监管局(银监冀局复[2009]283号)核 准,华北制药集团财务有限责任公司更名为冀中能源集团财 务有限责任公司。截至目前,财务公司注册资本 ...