Core Viewpoint - Shanxi Coking Coal (000983.SZ) announced that its subsidiary, Shanxi Fenxi Mining Group Shuiyu Coal Industry Co., Ltd., has resumed production after a safety incident led to a temporary shutdown [1] Group 1: Incident and Recovery - Shuiyu Coal Industry was shut down due to a safety accident and has undergone necessary rectifications during the shutdown period [1] - The local emergency management bureau and coal mine safety supervision bureau conducted a production resumption inspection, which was passed [1] - Production was officially resumed on September 12, following the approval from the relevant authorities [1] Group 2: Production Capacity and Impact - Shuiyu Coal Industry is a wholly-owned subsidiary of the company with an annual approved production capacity of 4 million tons, accounting for 8.18% of the company's total approved capacity [1] - The shutdown lasted for 15 days, resulting in an estimated loss of approximately 180,000 tons of raw coal production [1]

Core Viewpoint - Shanxi Coking Coal (000983.SZ) announced that its subsidiary, Shanxi Fenxi Mining Group Shuiyu Coal Industry Co., Ltd., has resumed production after a safety incident led to a temporary shutdown [1] Group 1: Incident and Recovery - The Shuiyu Coal Industry was shut down due to a safety accident and underwent a thorough rectification process during the shutdown period [1] - The local emergency management bureau and coal mine safety supervision bureau conducted a site inspection and approved the resumption of production [1] - Production was officially resumed on September 12, following the approval [1] Group 2: Production Impact - Shuiyu Coal Industry has an annual approved production capacity of 4 million tons, accounting for 8.18% of the company's total approved capacity [1] - The shutdown lasted for 15 days, resulting in an estimated loss of approximately 180,000 tons of raw coal production [1]

Core Viewpoint - Shanxi Coking Coal (000983.SZ) announced that its subsidiary, Shanxi Fenxi Mining Group Shuiyu Coal Industry Co., Ltd. (referred to as "Shuiyu Coal"), has resumed production after a safety incident led to a temporary shutdown [1] Group 1: Incident and Recovery - Shuiyu Coal was shut down for 15 days due to a safety accident, which is expected to impact raw coal production by approximately 180,000 tons [1] - The company has conducted thorough rectifications on identified issues and hazards during the shutdown period [1] - The resumption of production was approved by the Lvliang City Emergency Management Bureau and the local coal mine safety supervision bureau, with production restarting on September 12 [1] Group 2: Production Capacity - Shuiyu Coal has an annual approved production capacity of 4 million tons, accounting for 8.18% of the company's total approved production capacity [1]

山西焦煤能源集团股份有限公司 证券代码：000983 证券简称：山西焦煤 公告编号： 2025-039 关于所属水峪煤业复产的公告 业绩所产生的具体影响以审计机构年度审计确认后的结果为准。敬请 广大投资者注意投资风险。 三、后续相关工作安排 公司要求水峪煤业深刻吸取事故教训，进一步完善机电设备检修 管理制度，加强职工岗位技能培训，提高机电设备使用和管理水平； 全面落实安全生产主体责任，强化安全制度措施落实，严格矿领导带 班和煤矿安全监察专员履职，及时排查和消除安全隐患，深入开展重 大隐患排查整治工作，扎实开展反"三违"专项整治，确保安全；定 期开展风险辨识评估，落实风险管控措施，深化重大灾害治理，做到 不安全不生产；常态化组织开展警示教育活动，规范员工作业行为， 切实提升安全意识、安全素养以及自保互保能力，坚决防范和遏制事 故发生。 特此公告。 山西焦煤能源集团股份有限公司董事会 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、基本情况 山西焦煤能源集团股份有限公司（以下简称"公司"）所属山西 汾西矿业集团水峪煤业有限责任公司（以下简称"水峪煤业"）因安 ...

Core Viewpoint - The coal mining sector experienced a slight decline of 0.33% on September 12, with New Dazhou A leading the losses, while the overall market indices showed modest gains [1][2]. Group 1: Market Performance - The Shanghai Composite Index closed at 3883.69, up 0.22%, and the Shenzhen Component Index closed at 12996.38, up 0.13% [1]. - The coal mining sector's individual stock performance varied, with notable gainers including Jin Kong Coal Industry (up 3.46%) and Yongtai Energy (up 3.45%) [1]. Group 2: Stock Details - Key stocks in the coal mining sector included: - Jin Kong Coal Industry: Closing price 13.16, volume 269,300, turnover 3.49 billion [1]. - Yongtai Energy: Closing price 1.50, volume 10,248,400, turnover 1.51 billion [1]. - New Dazhou A: Closing price 5.11, down 2.11%, volume 126,600, turnover 65.03 million [2]. Group 3: Capital Flow - The coal mining sector saw a net outflow of 161 million from main funds, while retail investors contributed a net inflow of 115 million [2][3]. - Notable capital flows included: - Yongtai Energy: Main funds net inflow of 152 million, retail net outflow of 61.77 million [3]. - Shaanxi Coal Industry: Main funds net inflow of 52.84 million, retail net outflow of 40.82 million [3].

Group 1 - The core viewpoint of the article highlights the growth in China's industrial export value, with a reported value of 12,468.8 billion yuan in April 2025, reflecting a year-on-year increase of 0.9% [1] - Cumulative industrial export value from January to April 2025 reached 48,793.3 billion yuan, showing a cumulative year-on-year growth of 5.1% [1] - The article references a report by Zhiyan Consulting, which provides a deep assessment of the industrial cloud market in China from 2025 to 2031, indicating potential investment opportunities [1] Group 2 - The listed companies include Gansu Energy (000552), New Dazhou A (000571), Jizhong Energy (000937), and others, indicating a focus on the energy and industrial sectors [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in comprehensive industry research reports and customized services [1] - The data presented is sourced from the National Bureau of Statistics, emphasizing the reliability of the statistics used in the analysis [1]

山西焦煤所属申万行业为：煤炭-煤炭开采-焦煤。所属概念板块包括：动力煤、山西国资、煤化工、中 盘、融资融券等。 截至8月29日，山西焦煤股东户数16.10万，较上期减少2.08%；人均流通股28816股，较上期增加 2.13%。2025年1月-6月，山西焦煤实现营业收入180.53亿元，同比减少16.30%；归母净利润10.14亿元， 同比减少48.44%。 9月10日，山西焦煤盘中下跌2.14%，截至10:31，报6.87元/股，成交1.39亿元，换手率0.43%，总市值 390.02亿元。 资金流向方面，主力资金净流出3394.67万元，特大单买入225.25万元，占比1.61%，卖出1871.81万元， 占比13.42%；大单买入2183.75万元，占比15.66%，卖出3931.86万元，占比28.19%。 山西焦煤今年以来股价跌14.34%，近5个交易日涨2.08%，近20日跌6.78%，近60日涨9.92%。 今年以来山西焦煤已经1次登上龙虎榜，最近一次登上龙虎榜为7月22日，当日龙虎榜净买入1.02亿元； 买入总计2.78亿元 ，占总成交额比13.66%；卖出总计1.76亿元 ，占总成交额比8. ...

山西焦煤能源集团股份有限公司（以下简称"山西焦煤"）是中国国内最大的炼焦煤上市公司，公司17座 煤矿均为优质炼焦煤资源，截至2024年底共有资源量65.3亿吨，另外2024年取得一宗炼焦煤资源——兴 县井田探矿权，资源量9.5亿吨，资源寿命超行业平均水平。尤其在高端炼焦煤领域，公司骨架主焦煤 供应占比较高，对国内钢铁焦化企业具有不可替代性。 近日，中国上市公司协会联合新华财经等媒体开展"我在'十四五'这五年上市公司在行动"主题宣传活 动，多角度展现千行百业上市公司在"十四五"期间实现的发展成果。"十四五"期间，山西焦煤以科技创 新为笔，以绿色发展为墨，不断提升整体业务水平，推动公司价值最大化，交出了一份兼顾"稳保 供"与"促转型"的高质量发展答卷。 借力资本市场驱动公司跨越式发展 2021年2月，山西焦煤启动华晋焦煤资产重组工作，这是公司上市23年来的首次股权并购重组。 华晋焦煤是大型主焦煤生产企业，拥有沙曲一矿、沙曲二矿、吉宁矿及明珠矿等4座煤矿，公告生产能 力合计达1110万吨／年。旗下的沙曲一矿、沙曲二矿生产的优质主焦煤系世界稀有、国内稀缺品种，已 注册"华晋焦煤"品牌，享有"中国瑰宝"之美誉。 本次重 ...

Core Viewpoint - Shanxi Coking Coal Energy Group Co., Ltd. is the largest listed coking coal company in China, focusing on high-quality coking coal resources and achieving significant growth through strategic asset restructuring and technological innovation [1][2][3]. Group 1: Company Overview - Shanxi Coking Coal has 17 coal mines with a total resource volume of 6.53 billion tons, and an additional 0.95 billion tons from a newly acquired exploration right, with a resource lifespan exceeding the industry average [1]. - The company has a high market share in premium coking coal, making it irreplaceable for domestic steel coking enterprises [1]. Group 2: Strategic Developments - In February 2021, Shanxi Coking Coal initiated its first-ever equity merger and acquisition in 23 years, acquiring 51% of Huajin Coking Coal and 49% of Mingzhu Coal Industry, with a total asset value of 23 billion yuan and a transaction scale of 7.04 billion yuan [2]. - The restructuring project was approved by the CSRC on December 29, 2022, marking it as the largest asset restructuring in the coal sector in nearly a decade [2]. Group 3: Financial Performance - Post-restructuring, the company saw a significant increase in key financial metrics, with coal resource reserves rising from 4.4 billion tons to 6.6 billion tons and raw coal production capacity increasing from 37.8 million tons per year to 48.9 million tons per year [3]. - In 2023, the company successfully raised 4.4 billion yuan through a targeted issuance, receiving bids exceeding 10 billion yuan, marking the largest equity financing in the coal sector in over a decade [3]. Group 4: Resource Expansion - In 2024, the company successfully acquired additional coal resources amounting to 0.95 billion tons, increasing its coal resource reserves by 14% [4]. - The company also holds significant reserves of bauxite and gallium, establishing new production bases and strategic support points [4]. Group 5: Technological Advancements - Shanxi Coking Coal is focusing on low-carbon development and industrial upgrades, implementing a digital management system for mining operations and enhancing safety through advanced monitoring technologies [5][6]. - The company has completed the construction of 10 intelligent mines and is advancing smart mining techniques to optimize production processes [6]. Group 6: Corporate Governance - The company has improved its corporate governance structure by aligning with the latest regulatory requirements and enhancing its internal control systems [7]. - Shanxi Coking Coal has received an "A" grade for information disclosure from the Shenzhen Stock Exchange for four consecutive years and has been recognized for best practices in corporate governance [7]. Group 7: Investor Relations - The company has distributed over 26.1 billion yuan in dividends since its listing, with a cash dividend of 2.04 billion yuan planned for 2025, representing 20.16% of net profit [8].

Investment Rating - The coal industry is rated positively, with a focus on recovery in coal prices in the second half of 2025, which is expected to lead to performance recovery for coal companies [5][43]. Core Insights - In the first half of 2025, the coal sector underperformed the market, with the Shenwan coal mining index declining by 12.73%, while the Shanghai Composite Index rose by 2.76% [5][8]. - The average price of Q5500 thermal coal at ports was approximately 678 CNY/ton, down 22.57% year-on-year, and the average price for the second quarter was 633 CNY/ton, down 25.27% year-on-year [5][16]. - The overall revenue of 23 major listed coal companies was 513.1 billion CNY, a decrease of 18.9% year-on-year, with net profit falling by 31.1% to 55.5 billion CNY [5][22]. - The average dividend payout ratio for the coal industry increased to approximately 56.3% in 2024, reflecting a high dividend yield characteristic [5][35]. - The average return on equity (ROE) for the coal industry decreased to about 5.8% in the first half of 2025, down from previous years [5][41]. Summary by Sections 1. Industry Performance - The coal sector's performance was weaker than the market, with significant price declines impacting profitability [5][8]. - The first half of 2025 saw a high inventory level and a traditional off-peak season, leading to downward pressure on coal prices [5][16]. 2. Revenue and Profitability - Major coal companies reported a total revenue of 513.1 billion CNY, with a notable decline in both thermal and coking coal revenues [5][21]. - The net profit for the coal sector dropped significantly, with the thermal coal segment seeing a 24.1% decrease in net profit [5][22]. 3. Financial Metrics - The average expense ratio for the coal mining sector was 9.74%, showing a slight increase from the previous year [5][29]. - The industry maintained an average debt-to-asset ratio below 50%, indicating stable financial health [5][33]. 4. Dividend Trends - The coal industry's average dividend payout ratio has been on the rise, with several companies planning mid-year dividends in response to favorable policies [5][35]. 5. Investment Recommendations - Recommended stocks include China Shenhua, Shaanxi Coal, and China Coal for their stable operations and high dividends, while Shanxi Coal and Lu'an Environmental Energy are noted for their undervalued potential [5][43].