中信证券股份有限公司（以下简称"中信证券"或"独立财务顾问"）作为 山西焦煤能源集团股份有限公司（以下简称"山西焦煤""上市公司"或"公司"） 发行股份及支付现金购买资产并募集配套资金暨关联交易（以下简称"本次交易"） 的独立财务顾问，根据《上市公司重大资产重组管理办法》《上市公司并购重组 财务顾问业务管理办法》《深圳证券交易所股票上市规则》《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》等有关规定，对本次交易涉 及的 2024 年度业绩承诺实现情况及业绩承诺期届满资产减值测试情况进行核查， 如无特别说明，本核查意见中所述的词语或简称与《山西焦煤能源集团股份有限 公司发行股份及支付现金购买资产并募集配套资金暨关联交易报告书》中"释义" 所定义的词语或简称具有相同的含义，具体核查情况及意见如下： 一、本次交易情况概述 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核准山西焦煤 能源集团股份有限公司向山西焦煤集团有限责任公司等发行股份购买资产并募 集配套资金的批复》（证监许可〔2022〕3240 号）的核准，山西焦煤通过发行股 份及支付现金方式购买山西焦煤集团有限责任公司（以下简 ...

中信证券股份有限公司 关于山西焦煤能源集团股份有限公司 2024 年度募集资金年度存放与使用情况的专项核查意见 中信证券股份有限公司（以下简称"中信证券"、"独立财务顾问"）作为山 西焦煤能源集团股份有限公司（以下简称"山西焦煤"、"上市公司"或"公司"） 发行股份购买资产并募集配套资金暨关联交易的独立财务顾问，根据《上市公司 监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《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》《深圳证券交易所 上市公司自律监管指南第 2 号——公告格式》《深圳证券交易所股票上市规则》 等有关法律法规和规范性文件的要求，对上市公司 2024 年度募集资金存放与使 用情况进行了认真、审慎的核查，具体核查情况如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核准山西焦煤 能源集团股份有限公司向山西焦煤集团有限责任公司等发行股份购买资产并募 集配套资金的批复》（证监许可〔2022〕3240 号）的核准，山西焦煤采取向特定 对象发行的方式向 19 名特定对象发行 474,137, ...

山西焦煤能源集团股份有限公司 第九届董事会独立董事专门会议 2025 年 第二次会议的审查意见 公司 2024 年度涉及山西焦煤集团财务有限责任公司的 存款、贷款等金融业务严格按照监管机构的相关规定执行， 符合监管要求，符合《深圳证券交易所上市公司自律监管指 引第 7 号—交易与关联交易》的规定。我们认为报告期内涉 及财务公司关联交易的存款、贷款等金融业务公平合理，没 有损害上市公司的利益。 根据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司独立董事管理办法》《深圳证券交易所股票 上市规则》《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》及《山西焦煤能源集团股份有限 公司章程》，山西焦煤能源集团股份有限公司（以下简称"公 司"）独立董事于 2025 年 4 月 24 日以现场方式召开第九届 董事会独立董事专门会议 2025 年第二次会议，就审议事项 发表如下审查意见： 1 关于公司与山西焦煤集团财务公司之间关联存贷款等 金融业务的风险持续评估报告的审查意见 独立董事：李玉敏、邓蜀平、田旺林、郝恩磊 山西焦煤能源集团股份有限公司董事会 2025 年 4 月 25 日 2 ...

山西焦煤能源集团股份有限公司 独立董事2024年度述职报告 （李玉敏） 公司董事会： 本人作为公司的独立董事，严格按照《公司法》《上市公司 独立董事管理办法》以及《公司章程》等规定履行职责。报告期 内，恪尽职守，勤勉尽责，积极出席公司相关会议，认真审议董 事会各项议案，对董事会的相关事项发表独立意见，在维护全体 股东合法权益、促进公司发展上发挥了独立董事的作用。 现将2024年履行独立董事职责情况述职如下： 一、独立董事的基本情况 李玉敏先生，汉族，出生于1958年，中共党员，经济学硕士， 山西财经大学会计学教授，山西省会计准则实施工作组专家。现 任山西美锦能源股份有限公司、深圳赫美集团股份有限公司独立 董事，本公司独立董事。 作为公司的独立董事，经自查，本人符合《上市公司独立董 事管理办法》《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》等相关法律法规中对独立董事独立性 的相关要求，不存在影响独立性的情况。 1 二、报告期内出席会议情况 | 独立董事 | 应出席董 | 现场出席 董事会次 | 通讯表决董 | 委托出席 董事会次 | 缺席董事 | 列席股东 | | --- | --- | ...

山西焦煤能源集团股份有限公司 独立董事2024年度述职报告 （邓蜀平） 公司董事会： 1 届山西省政协委员、常委。现任中国科学院山西煤炭化学研究所 信息战略与工程咨询中心主任，省直煤化所民革总支主委，第十 四届山西省政协常委，山西省政府、省政协智库专家，山西安泰 集团股份有限公司独立董事，本公司独立董事。 作为公司的独立董事，经自查，本人符合《上市公司独立董 事管理办法》《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》等相关法律法规中对独立董事独立性 的相关要求，不存在影响独立性的情况。 本人作为公司的独立董事，严格按照《公司法》《上市公司 独立董事管理办法》以及《公司章程》等规定履行职责。报告期 内，恪尽职守，勤勉尽责，积极出席公司相关会议，认真审议董 事会各项议案，对董事会的相关事项发表独立意见，在维护全体 股东合法权益、促进公司发展上发挥了独立董事的作用。 现将2024年履行独立董事职责情况述职如下： 一、独立董事的基本情况 邓蜀平先生，汉族，出生于1968年，大学本科，教授级高级 工程师，民革党员，国家能源局专家，山西省人民政府决策咨询 委员会委员，中国石油化工协会技术经济专业委 ...

山西焦煤能源集团股份有限公司 独立董事2024年度述职报告 （郝恩磊） 公司董事会： 本人作为第九届董事会的独立董事，严格按照《公司法》《上 市公司独立董事管理办法》以及《公司章程》等规定履行职责。 报告期内，恪尽职守，勤勉尽责，积极出席公司相关会议，认真 审议董事会各项议案，对董事会的相关事项发表独立意见，在维 护全体股东合法权益、促进公司发展上发挥了独立董事的作用。 现将2024年履行独立董事职责情况述职如下： 一、独立董事的基本情况 郝恩磊先生，汉族，出生于1983年，大学本科，中共党员， 历任山西恒一律师事务所律师，北京市炜衡（太原）律师事务所 合伙人，现任北京天驰君泰（太原）律师事务所合伙人，本公司 独立董事。 作为公司的独立董事，经自查，本人符合《上市公司独立董 事管理办法》《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》等相关法律法规中对独立董事独立性 的相关要求，不存在影响独立性的情况。 1 二、报告期内出席会议情况 | 独立董事 姓名 | 应出席董 事会次数 | 现场出席 董事会次 | 通讯表决董 事会次数 | 委托出席 董事会次 | 缺席董事 会次数 | 列席股东 大 ...

山西焦煤能源集团股份有限公司董事会 2025 年 4 月 25 日 山西焦煤能源集团股份有限公司董事会 关于独立董事独立性情况的专项意见 根据《上市公司独立董事管理办法》《深圳证券交易所股票上 市规则》《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》等要求，山西焦煤能源集团股份有限公司（以下 简称"公司"）董事会就公司在任独立董事李玉敏先生、邓蜀平 先生、田旺林先生、郝恩磊先生独立性情况进行评估并出具如下 专项意见： 经核查独立董事李玉敏先生、邓蜀平先生、田旺林先生、郝 恩磊先生的任职经历及其签署的独立性自查文件，董事会认为公 司全体独立董事均具备胜任独立董事岗位的资格，符合《上市公 司独立董事管理办法》和《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》等法律法规中关于独立董事的 任职资格及独立性要求，不存在任何妨碍其进行独立客观判断的 关系，不存在影响独立董事独立性的情况。 ...

山西焦煤能源集团股份有限公司 独立董事2024年度述职报告 （田旺林） 公司董事会： 本人作为第九届董事会的独立董事，严格按照《公司法》《上 市公司独立董事管理办法》以及《公司章程》等规定履行职责。 报告期内，恪尽职守，勤勉尽责，积极出席公司相关会议，认真 审议董事会各项议案，对董事会的相关事项发表独立意见，努力 维护全体股东合法权益，在促进公司发展的事业中，积极发挥独 立董事的作用。 现将2024年履行独立董事职责情况述职如下： 一、独立董事的基本情况 田旺林，汉族，出生于1957年，硕士学历，会计学教授，历 任山西经济管理干部学院财会系主任，曾任大同水泥股份有限公 司、山西汾酒股份有限公司、山西焦化股份有限公司和山西华阳 新材股份有限公司等上市公司独立董事，现任当代东方投资股份 有限公司独立董事，本公司独立董事。 作为公司的独立董事，经自查，本人符合《上市公司独立董 事管理办法》《深圳证券交易所上市公司自律监管指引第1号— 1 —主板上市公司规范运作》等相关法律法规中对独立董事独立性 的相关要求，不存在影响独立性的情况。 二、报告期内出席会议情况 2024 年度本人任职期间，公司共计召开 8 次董事会会议 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥9,025,556,698.21, a decrease of 14.46% compared to ¥10,551,745,369.80 in the same period last year[5] - Net profit attributable to shareholders was ¥681,039,664.29, down 28.33% from ¥950,193,725.85 year-on-year[5] - Basic and diluted earnings per share decreased by 28.32% to ¥0.1200 from ¥0.1674 in the same period last year[5] - Net profit for the current period is ¥847,232,669.92, a decline of 21.8% compared to ¥1,083,065,066.20 in the previous period[17] - Earnings per share for the current period is ¥0.1200, down from ¥0.1674 in the previous period[17] Cash Flow - The net cash flow from operating activities increased significantly by 260.84%, reaching ¥1,885,572,623.47, compared to a negative cash flow of -¥1,172,293,695.20 in the previous year[5] - Operating cash inflow totaled CNY 10,877,554,712.61, an increase from CNY 10,583,539,908.55 year-over-year[20] - Operating cash outflow amounted to CNY 8,991,982,089.14, down from CNY 11,755,833,603.75 year-over-year[20] - The net increase in cash and cash equivalents was CNY 795,763,537.16, contrasting with a decrease of CNY 2,591,359,913.29 in the prior year[21] - The ending balance of cash and cash equivalents stood at CNY 9,094,267,900.80, down from CNY 14,237,788,685.99 year-over-year[21] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥110,245,286,898.87, reflecting a slight increase of 0.27% from ¥109,949,187,629.70 at the end of the previous year[5] - Total liabilities amount to ¥62,151,581,738.10, slightly down from ¥63,076,284,682.58 in the previous period[15] - Total current assets at the end of the reporting period amount to ¥20,596,894,744.33, an increase from ¥19,710,016,871.64 at the beginning of the period[14] - Non-current assets decreased slightly to ¥89,648,392,154.54 from ¥90,239,170,758.06[14] - The total non-current liabilities amount to ¥39,203,615,201.93, an increase from ¥37,430,822,988.64 in the previous period[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 153,030[11] - The largest shareholder, Shanxi Coking Coal Group, holds 57.29% of shares, totaling 3,252,483,890 shares, with 412,145,977 shares pledged[11] - The company has a total of 2,215,625,618 shares with unrestricted circulation held by Shanxi Coking Coal Group[12] - The company has not disclosed any significant changes in the shareholding structure among the top shareholders[12] Research and Development - Research and development expenses decreased significantly by 67.10% to ¥1,642,000 from ¥4,992,000 in the same period last year[9] - Research and development expenses for the current period are ¥16,423,822.69, significantly reduced from ¥49,919,645.85 in the previous period[16] Income and Expenses - The company reported a 99.31% decrease in non-operating income, dropping to ¥44,000 from ¥6,313,000, mainly due to the sale of carbon emission rights by a subsidiary in the previous year[9] - Non-operating expenses increased by 60.89% to ¥3,089,000 from ¥1,920,000, primarily due to increased penalty expenses during the reporting period[9] - The company reported a tax expense of ¥314,445,817.11, down from ¥359,566,223.01 in the previous period[17] - The company paid CNY 1,400,746,625.67 in taxes, a decrease from CNY 1,755,745,767.37 year-over-year[20]

Financial Performance - The company's operating revenue for 2024 was ¥45.29 billion, a decrease of 18.43% compared to ¥55.52 billion in 2023[21]. - The net profit attributable to shareholders for 2024 was ¥3.11 billion, down 54.10% from ¥6.77 billion in 2023[21]. - The cash flow from operating activities for 2024 was ¥3.59 billion, a significant decline of 73.81% from ¥13.70 billion in 2023[21]. - The basic earnings per share for 2024 was ¥0.5475, a decrease of 55.42% compared to ¥1.2282 in 2023[21]. - The total assets at the end of 2024 were ¥109.95 billion, an increase of 17.46% from ¥93.60 billion at the end of 2023[21]. - The weighted average return on equity for 2024 was 8.33%, down from 18.74% in 2023, reflecting a decrease of 10.41%[21]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, with a total of ¥3.02 billion in 2024 compared to ¥6.82 billion in 2023, a decline of 55.77%[21]. - The company achieved an operating revenue of 45.29 billion yuan and a net profit attributable to the parent company of 3.108 billion yuan in 2024, with total assets of 109.949 billion yuan and a debt ratio of 57.37%[40]. - The company's total revenue for 2024 was approximately ¥45.29 billion, a decrease of 18.43% compared to ¥55.52 billion in 2023[50]. Dividend Distribution - The company plans to distribute a cash dividend of 2.2 RMB per 10 shares to all shareholders, based on a total of 5,677,101,059 shares[5]. - The board proposed a cash dividend of 2.2 RMB per 10 shares, totaling approximately 1.25 billion RMB, which accounts for 40.19% of the net profit attributable to shareholders for the year[109]. - The company distributed cash dividends totaling 4.5 billion yuan, achieving a dividend payout ratio of 67%[42]. - The cash dividend proposal for 2024 is to distribute CNY 2.2 per 10 shares, totaling CNY 1,248,962,232.98, which represents 100% of the distributable profit[149]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[5]. - The financial report is guaranteed to be true, accurate, and complete by the board of directors and senior management[5]. - The company has detailed potential risks in the section "Management Discussion and Analysis" of the report[5]. - The company has implemented a risk-oriented internal control system, enhancing risk prevention capabilities and ensuring the accuracy of financial reporting[154]. - There were no significant internal control deficiencies identified during the reporting period, with zero major or important deficiencies reported[158]. Corporate Governance - The company has established a market value management system to enhance investment value and protect investor interests, which was approved by the board on December 30, 2024[100]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring a complete production, R&D, management, procurement, and sales system[112]. - The company has a clear asset ownership structure, with no occupation or control by directors, supervisors, or controlling shareholders[112]. - The company is committed to maintaining a transparent governance structure, with independent directors overseeing operations[116]. - The company has established an independent financial accounting system, enabling it to make autonomous financial decisions[112]. Environmental Compliance - The company strictly adheres to various environmental protection laws and standards, ensuring compliance in its operations[162]. - The company has established a comprehensive environmental management system and actively promotes the handling of environmental permits for key projects[163]. - The company’s emissions are within the regulatory limits, with no exceedances reported for key pollutants[164]. - The company has implemented a pollution discharge permit management system, ensuring all permits are valid and compliant[163]. - The company has achieved a total nitrogen oxide emission of 0.49 tons, which is below the regulatory threshold[165]. Strategic Development - The company is focused on expanding its market presence and enhancing technological innovation in response to macroeconomic policies[87]. - The company aims to enhance its core competitiveness in the coking coal market through mergers and acquisitions of advanced coal production capacities[89]. - The company plans to implement a green and sustainable development strategy by utilizing waste products from coal and power generation in its building materials segment[91]. - The company is actively pursuing market expansion and international development to transition from a resource-driven model to one that emphasizes value creation[94]. - The company is committed to achieving carbon peak goals and enhancing its ecological footprint in line with national environmental policies[93]. Research and Development - The company completed the development of a coal-based composite water-sealing material, achieving international advanced level and reducing sealing costs by 30% to 50%[65]. - The project on gas extraction from low-permeability coal seams has been recognized for its achievements, contributing to a 20% increase in operational efficiency[65]. - The company has developed a model for material density measurement in the warehouse, which is currently undergoing pilot testing to support accurate inventory calculations[65]. - The company is investing 200 million yuan in research and development for new technologies aimed at enhancing operational efficiency[130]. - The number of R&D personnel decreased by 9.07% from 4,430 in 2023 to 4,028 in 2024, with the proportion of R&D personnel dropping from 12.21% to 10.69%[66]. Operational Efficiency - The company is committed to enhancing investor returns through a "Quality and Return Double Improvement" action plan, focusing on six key areas including governance and information disclosure[96]. - The company aims to control costs effectively by analyzing cost drivers and implementing zero-based budgeting, focusing on cash flow management[94]. - The company has successfully increased its high-quality coking coal capacity by 16.3 million tons per year through cash purchases and equity acquisitions, enhancing its competitive edge[99]. - The company has established a new performance distribution model that motivates employees based on value creation[145]. - The company has implemented a performance evaluation system based on "annual + term" assessments, emphasizing strategic execution and value creation[145]. Market Trends - The domestic coking coal market saw a decrease in demand due to a decline in pig iron production, leading to a downward trend in coking coal prices[32]. - The overall coal production in China reached 4.78 billion tons in 2024, reflecting a year-on-year growth of 1.2%[32]. - The company expects coal consumption to grow slightly, with an estimated increase of 100 billion kilowatt-hours in coal-fired power generation this year[87]. - The company anticipates that domestic coal production capacity will remain sufficient, with stable growth expected in coal production by 2025[87]. - The forecast for national electricity consumption in 2025 is approximately 10.4 trillion kWh, reflecting a year-on-year increase of around 6%[89].