证券代码：000968 证券简称：蓝焰控股 公告编号：2025-042 山西蓝焰控股股份有限公司 关于控股股东与实际控制人之间产权层级减少的 提示性公告 3.本次控股股东与实际控制人之间产权层级减少不涉及要约收 购。 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。 特别提示： 1.本次控股股东与实际控制人之间产权层级减少系山西省人民 政府将山西省国有资本运营有限公司（以下简称"山西国资运营公司"） 持有的华新燃气集团有限公司（以下简称"华新燃气集团"）90%股 权、晋能控股集团有限公司（以下简称"晋能控股集团"）90%股权 划转至山西省人民政府国有资产监督管理委员会（以下简称"山西省 国资委"）直接持有。 2.本次控股股东与实际控制人之间产权层级减少不会导致公司 直接控股股东及实际控制人发生变化。公司直接控股股东仍为山西燃 气集团有限公司，实际控制人仍为山西省国资委。 一、本次控股股东与实际控制人之间产权层级减少的基本情况 近日，公司收到华新燃气集团转来的《山西省人民政府国有资产 监督管理委员会关于将山西省国有资本运营有限公司持有的相关企 业国有股权划转至省国 ...

Core Viewpoint - The oil and gas extraction sector experienced a 0.73% increase on December 2, with Intercontinental Oil leading the gains, while the Shanghai Composite Index fell by 0.42% and the Shenzhen Component Index decreased by 0.68% [1] Group 1: Market Performance - The closing price of Intercontinental Oil was 2.76, reflecting a 1.47% increase, with a trading volume of 2.3728 million shares and a transaction value of 649 million yuan [1] - China National Offshore Oil Corporation (CNOOC) closed at 28.76, up by 0.98%, with a trading volume of 295,900 shares and a transaction value of 851 million yuan [1] - Blue Flame Holdings remained unchanged at 6.95, with a trading volume of 79,900 shares and a transaction value of 55.2764 million yuan [1] - ST Xinchao closed at 3.89, down by 0.26%, with a trading volume of 77,600 shares and a transaction value of 30.2054 million yuan [1] Group 2: Capital Flow - The oil and gas extraction sector saw a net inflow of 12.7885 million yuan from main funds, while retail investors experienced a net outflow of 26.7944 million yuan [1] - Intercontinental Oil had a net inflow of 20.6339 million yuan from main funds, but a net outflow of 12.0512 million yuan from retail investors [2] - CNOOC experienced a net outflow of 471,800 yuan from main funds, with a net inflow of 18.5347 million yuan from speculative funds [2] - Blue Flame Holdings had a net outflow of 3.4649 million yuan from main funds, with a net inflow of 154,580 yuan from speculative funds [2] - ST Xinchao faced a net outflow of 3.9087 million yuan from main funds, while speculative funds saw a net inflow of 250,810 yuan [2]

Core Insights - The report highlights the impact of colder weather and declining inventories on natural gas prices in the U.S., which increased by 10.5% week-on-week, while European gas prices decreased by 5.6% due to inventory withdrawals [1][2]. Price Tracking - As of November 28, 2025, the week-on-week price changes for various natural gas benchmarks are as follows: U.S. HH +10.5%, European TTF -5.6%, East Asia JKM -3.3%, China LNG ex-factory -0.9%, and China LNG CIF -4.5%, with prices at 1.2, 2.4, 2.8, 2.9, and 2.8 CNY per cubic meter respectively [1]. Supply and Demand Analysis - The U.S. natural gas market saw a week-on-week inventory decrease of 110 billion cubic feet, bringing total storage to 39,350 billion cubic feet, a year-on-year decline of 0.8% [2]. - In Europe, natural gas consumption from January to August 2025 was 2,884 billion cubic meters, up 4.6% year-on-year. The supply increased by 25.1% week-on-week to 102,598 GWh, with significant contributions from inventory consumption and LNG terminals [2]. - Domestic natural gas prices in China decreased by 0.9% week-on-week, with a year-on-year increase in apparent consumption of 0.7% to 3,541 billion cubic meters [2]. Pricing Progress - As of November 2025, 67% of cities in China have implemented residential pricing adjustments, with an average increase of 0.22 CNY per cubic meter [3]. Important Announcements - China Gas reported total revenue of 31.481 billion CNY for the first half of the fiscal year 2026, a decrease of 1.78% year-on-year, and a net profit of 1.218 billion CNY, down 24.22% year-on-year, primarily due to pressure on retail gas and connection services [3]. Investment Recommendations - The outlook for 2025 suggests a relaxed supply environment and cost optimization for gas companies, with a focus on price mechanism adjustments and demand growth. Key recommendations include companies like Xinao Energy, China Resources Gas, and Kunlun Energy, with notable dividend yields [3].

Core Viewpoint - Blue Flame Holdings (000968) has made significant progress in coalbed methane exploration and production during the 14th Five-Year Plan period, focusing on technological innovation and resource development [1][2] Group 1: Achievements During the 14th Five-Year Plan - The company has achieved a coordinated advancement in rolling exploration and key block construction, enhancing its self-sourced gas supply capacity [1] - Blue Flame Holdings has implemented an innovative thin coal seam dense well project, providing new ideas for efficient resource utilization in coalbed methane development [1] - The company has established an integrated platform for seismic, geological, and engineering operations in mid-deep exploration areas, facilitating integrated design, construction, production operation, and economic evaluation [1] - A unique coalbed methane extraction technology system has been developed for mining subsidence areas, reducing safety production risks and methane emissions, earning the second prize of the China Coal Industry Science and Technology Award and the first prize of the Shanxi Provincial Science and Technology Progress Award [1] - The company has successfully executed its first large-scale EPC project outside the province, completing the construction of 21 coalbed methane wells in the Water Creek area, supporting the coalbed methane industry development in Changji Prefecture, Xinjiang [1] Group 2: Future Development Strategy - Blue Flame Holdings aims to focus on high-quality development, driven by technological innovation and talent, to enhance its core competitiveness [2] - The company plans to accelerate key technological breakthroughs and original innovations while strengthening control over its core industry [2] - There is a strategy to cultivate development momentum by promoting engineering technology services, integrating new energy development, and enhancing related equipment manufacturing [2] - The overall goal is to innovate and establish itself as a leader in the coalbed methane industry, adapting to local conditions to develop new productive forces [2]

Core Insights - The oil and gas extraction sector experienced a slight increase of 0.33% on November 27, with China National Offshore Oil Corporation (CNOOC) leading the gains [1] - The Shanghai Composite Index closed at 3875.26, up 0.29%, while the Shenzhen Component Index closed at 12875.19, down 0.25% [1] Sector Performance - CNOOC (600938) closed at 28.08, with a gain of 0.97% and a trading volume of 385,100 shares, amounting to a transaction value of 1.079 billion yuan [1] - Blue Flame Holdings (000968) closed at 6.86, up 0.44%, with a trading volume of 101,200 shares and a transaction value of 69.4482 million yuan [1] - ST Xinchao (600777) closed at 3.91, down 1.01%, with a trading volume of 95,700 shares and a transaction value of 37.5616 million yuan [1] - Intercontinental Oil and Gas (600759) closed at 2.57, down 1.53%, with a trading volume of 1.9467 million shares and a transaction value of 501 million yuan [1] Capital Flow - The oil and gas extraction sector saw a net inflow of 23.9948 million yuan from institutional investors, while retail investors contributed a net inflow of 78.0572 million yuan [1] - The sector experienced a net outflow of 102 million yuan from speculative funds [1] Individual Stock Capital Flow - CNOOC had a net inflow of 20.4579 million yuan from institutional investors, while it faced a net outflow of 72.1105 million yuan from speculative funds and a net inflow of 51.6526 million yuan from retail investors [2] - Blue Flame Holdings had a net inflow of 4.9139 million yuan from institutional investors, with net outflows from both speculative and retail investors [2] - Intercontinental Oil and Gas had a net inflow of 639,300 yuan from institutional investors, with significant net outflows from speculative funds [2] - ST Xinchao experienced a net outflow of 2.0163 million yuan from institutional investors, while retail investors contributed a net inflow [2]

证券日报网讯 蓝焰控股11月26日在互动平台回答投资者提问时表示，二级市场股价受宏观环境、市场 行情、行业周期、投资偏好等多重因素共同影响。公司聚焦煤层气勘探开发主业，目前生产经营正常， 并严格按照相关规定进行信息披露，不存在应披露而未披露事项。 （编辑 王雪儿） ...

Group 1 - The oil and gas extraction sector experienced a decline of 1.2% on November 26, with *ST Xinchao leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index closed at 12907.83, up 1.02% [1] - Major stocks in the oil and gas extraction sector showed varied performance, with notable declines in stocks like *ST Xinchao, which fell by 1.50% to a closing price of 3.95 [1] Group 2 - The oil and gas extraction sector saw a net outflow of 224 million yuan from main funds, while retail investors contributed a net inflow of 185 million yuan [1] - Individual stock fund flows indicated that *ST Xinchao had a significant net outflow of 732.21 million yuan from main funds, while retail investors contributed a net inflow of 679.33 million yuan [2] - The overall trading volume for the oil and gas extraction sector was substantial, with stocks like Zhongjin Oil and *ST Xinchao showing significant trading activity [1][2]

Core Points - The oil and gas extraction sector experienced a decline of 0.88% on November 20, with Blue Flame Holdings leading the drop [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Sector Performance - The closing prices and performance of key stocks in the oil and gas extraction sector are as follows: - Intercontinental Oil & Gas (600759) closed at 2.77, up 0.73% with a trading volume of 2.8097 million shares [1] - ST Xinchao (600777) closed at 3.93, down 0.76% with a trading volume of 142,900 shares [1] - China National Offshore Oil Corporation (600938) closed at 29.20, down 1.08% with a trading volume of 353,500 shares [1] - Blue Flame Holdings (000968) closed at 7.34, down 1.34% with a trading volume of 107,800 shares [1] Capital Flow - The oil and gas extraction sector saw a net outflow of 69.4067 million yuan from institutional investors, while retail investors contributed a net inflow of 15.6092 million yuan [1] - The detailed capital flow for key stocks is as follows: - Blue Flame Holdings (000968) had a net outflow of 5.0863 million yuan from institutional investors, with a net inflow of 2.8235 million yuan from retail investors [2] - ST Xinchao (600777) experienced a net outflow of 8.9827 million yuan from institutional investors, with a net inflow of 7.0945 million yuan from retail investors [2] - Intercontinental Oil & Gas (600759) had a net outflow of 18.6567 million yuan from institutional investors, with a net inflow of 18.2155 million yuan from retail investors [2] - China National Offshore Oil Corporation (600938) saw a net outflow of 36.6811 million yuan from institutional investors, with a net outflow of 12.5243 million yuan from retail investors [2]

Market Overview - The oil and gas extraction sector experienced a decline of 1.68% on November 18, with Blue Flame Holdings leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Individual Stock Performance - Key stocks in the oil and gas extraction sector showed the following performance: - China National Offshore Oil Corporation (600938) closed at 28.58, down 1.31% with a trading volume of 343,000 shares and a turnover of 9.85 billion yuan [1] - *ST Xinchao (600777) closed at 3.95, down 1.74% with a trading volume of 226,500 shares and a turnover of 89.79 million yuan [1] - Intercontinental Oil and Gas (600759) closed at 2.89, down 3.02% with a trading volume of 3.9462 million shares and a turnover of 11.47 billion yuan [1] - Blue Flame Holdings (000968) closed at 7.49, down 3.48% with a trading volume of 190,800 shares and a turnover of 144 million yuan [1] Capital Flow Analysis - The oil and gas extraction sector saw a net outflow of 340 million yuan from institutional investors, while retail investors contributed a net inflow of 258 million yuan [1] - The capital flow for key stocks is as follows: - *ST Xinchao (600777) had a net outflow of 23.29 million yuan from institutional investors, with retail inflows of 12.57 million yuan [2] - Blue Flame Holdings (000968) experienced a net outflow of 27.11 million yuan from institutional investors, with retail inflows of 23.57 million yuan [2] - Intercontinental Oil and Gas (600759) had a net outflow of 57.82 million yuan from institutional investors, with retail inflows of 30.30 million yuan [2] - China National Offshore Oil Corporation (600938) faced a significant net outflow of 231 million yuan from institutional investors, while retail investors contributed a net inflow of 191 million yuan [2]

Core Insights - The oil and gas extraction sector experienced a slight increase of 0.09% on November 17, with Intercontinental Oil leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Sector Performance - Intercontinental Oil (600759) closed at 2.98, up 4.93%, with a trading volume of 5.8659 million shares and a transaction value of 1.734 billion [1] - Other notable stocks included China National Offshore Oil (600938) down 0.21%, Blue Flame Holdings (000968) down 0.39%, and ST Xinchao (600777) down 0.99% [1] Capital Flow - The oil and gas extraction sector saw a net inflow of 93.0503 million in main funds, while retail investors experienced a net outflow of 98.8204 million [1] - Main fund inflows for Intercontinental Oil were 11.8 million, representing 6.82% of total transactions, while retail investors had a net outflow of 118 million, indicating a negative sentiment [2]