西部证券股份有限公司 关于陕西美能清洁能源集团股份有限公司 首次公开发行前已发行股份解除限售并上市流通的 核查意见 西部证券股份有限公司（以下简称"西部证券"或"保荐人"）作为陕西美 能清洁能源集团股份有限公司（以下简称"美能能源"或"公司"）首次公开发 行股票并在主板上市持续督导阶段的保荐人，根据《证券发行上市保荐业务管理 办法》《深圳证券交易所股票上市规则》及《深圳证券交易所上市公司自律监管 指引第 13 号——保荐业务》等有关规定，对美能能源首次公开发行前已发行股 份解除限售并上市流通相关事项进行了认真、审慎的核查，并发表本核查意见， 具体情况如下： 一、公司首次公开发行股票并上市及之后的股本变化情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核准陕西美 能清洁能源集团股份有限公司首次公开发行股票的批复》（证监许可[2022]2093 号）核准，公司首次公开发行的人民币普通股（A 股）股票 46,900,000 股，发行 后股本总额为 187,579,697 股，经深圳证券交易所同意，公司股票于 2022 年 10 月 31 日起在深圳证券交易所主板上市。 公司首次公开发行股票前总股本为 ...

Core Insights - Meinuo Energy reported that as of October 20, 2025, the total number of shareholders is 13,634 [2] Company Summary - Meinuo Energy is actively engaging with investors through interactive platforms to provide updates on shareholder statistics [2]

Group 1 - The core viewpoint of the news highlights the strong performance of the non-ferrous metal sector, particularly the Non-Ferrous Metal Leader ETF (159876), which saw an intraday increase of 2.96% and a current rise of 2.16%, with a trading volume exceeding 520 million yuan, indicating active trading [1] - Technical analysis indicates that the recovery of the 10-day moving average suggests that short-term bullish forces are strong enough to push the stock price above the "short-term cost line," indicating an advantage for bulls in short-term trading [1] - Key constituent stocks such as Xiamen Tungsten Industry and Jiangxi Copper experienced significant gains, with Xiamen Tungsten hitting the daily limit, and others like Huayu Mining and Western Superconducting rising over 6% [1] Group 2 - The U.S. September CPI data, which came in lower than expected at a year-on-year growth of 3.0% and a core CPI month-on-month increase of 0.2%, provides solid support for the Federal Reserve to consider further interest rate cuts [3] - The impact of potential Fed rate cuts on non-ferrous metal prices is explained through three key points: 1) Rate cuts equate to monetary easing, leading investors to prefer tangible assets; 2) Most non-ferrous metals are priced in USD, and a weaker dollar makes these metals cheaper, boosting global demand; 3) Lower interest rates reduce borrowing costs for companies, increasing demand for industrial metals like copper and aluminum [3] - The outlook for the non-ferrous metal sector is optimistic, driven by long-term capital expenditure cycles and increasing global manufacturing investment, alongside a recovery in domestic macroeconomic conditions, positioning non-ferrous metals as a core component of the current commodity bull market [3] Group 3 - The Non-Ferrous Metal Leader ETF (159876) and its linked funds provide a diversified investment approach by passively tracking the CSI Non-Ferrous Metal Index, which includes significant weights in copper (27.6%), gold (14.5%), aluminum (13.1%), rare earths (10.4%), and lithium (8.4%), thus helping to mitigate risks associated with investing in single metal sectors [5]

Core Insights - The article discusses the recent adjustments in QFII (Qualified Foreign Institutional Investor) holdings in A-shares as companies disclose their Q3 reports, highlighting a clear trend in foreign investment strategies [1][2]. Group 1: Sovereign Wealth Fund Adjustments - Sovereign wealth funds like the Abu Dhabi Investment Authority (ADIA) and the Monetary Authority of Macao have shown distinct trading behaviors, with ADIA significantly increasing its holdings in cyclical resource stocks, particularly Baofeng Energy, which now has a market value exceeding 790 million yuan [3][4]. - In contrast, the Monetary Authority of Macao has adopted a more defensive and stable investment strategy, focusing on resource, environmental, and manufacturing sectors, with a total market value of 1.14 billion yuan across six stocks [3][4]. - The Hong Kong Monetary Authority has reduced its holdings in Chengde Lolo, now holding 9.3 million shares, indicating a cautious approach compared to ADIA's aggressive positioning [4]. Group 2: Traditional Foreign Banks' Strategies - Major foreign banks like Morgan Stanley, UBS, and Goldman Sachs have shown a trend towards concentrated investments in high-certainty sectors, with Morgan Stanley holding 42 A-shares valued at 2.874 billion yuan, focusing on electric power equipment and digital infrastructure [5][6]. - Morgan Chase has the largest coverage with 71 A-shares, significantly increasing its stake in China West Electric from 56.82 million shares to 130 million shares, reflecting a strategic shift towards high-potential stocks [5]. - UBS has diversified its holdings across 55 A-shares, emphasizing mid-to-small-cap growth stocks, while Goldman Sachs has concentrated on resource and chemical stocks, indicating varied investment philosophies among these institutions [5][6]. Group 3: Common Holdings Among Foreign Institutions - Several stocks have emerged as "foreign consensus stocks," held by three or more foreign institutions, indicating strong compatibility in valuation, fundamentals, and policy direction [7][8]. - Notable examples include Chengfei Integration, which is held by multiple institutions with a total market value exceeding 132 million yuan, and Innovation Medical, favored by four foreign entities [7][8]. - Other stocks like Lianhuan Pharmaceutical and Xingwang Yuda have also gained traction among foreign investors, showcasing a trend towards core assets in advanced manufacturing, healthcare, TMT, and military materials sectors [8].

Core Viewpoint - The company has released its third-quarter financial report, ensuring the accuracy and completeness of the information disclosed, and has approved a cash dividend distribution plan for shareholders [1][2][13]. Financial Data - The third-quarter financial report has not been audited [10]. - The company has confirmed that there are no adjustments or restatements required for previous accounting data [3]. - The company reported a cash dividend distribution of RMB 1.50 per 10 shares, totaling RMB 35,788,290.90 distributed to shareholders [5][6]. Corporate Actions - The company held meetings on August 25, 2025, and September 11, 2025, to approve the half-year profit distribution plan and changes to the registered capital and company bylaws [6][12]. - A share acquisition agreement was signed with Shanghai Pudong Development Bank for the sale of 1 million shares of Han Cheng Pudong Village Bank, totaling RMB 2,931,752.66 [7].

Group 1 - The core viewpoint of the article is that Meinuo Energy (001299.SZ) has shown significant growth in its financial performance for the first three quarters of 2025, with notable increases in both revenue and net profit [1] Group 2 - For the first three quarters, the company achieved an operating income of 515 million yuan, representing a year-on-year growth of 17.28% [1] - The net profit attributable to shareholders of the listed company was 66.27 million yuan, reflecting a year-on-year increase of 21.38% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 57.46 million yuan, which is a year-on-year growth of 20.65% [1]

Group 1 - The core point of the article is that Meinuo Energy reported its financial results for the third quarter of 2025, showing significant growth in both revenue and net profit [2] - For the first three quarters of 2025, the company achieved a revenue of 514,810,298.84 yuan, representing a year-on-year increase of 17.28% [2] - The net profit attributable to shareholders of the listed company was 66,268,731.37 yuan, reflecting a year-on-year growth of 21.38% [2]

Core Viewpoint - Meinuo Energy has demonstrated resilience and growth potential in the clean energy sector, achieving significant year-on-year increases in both revenue and net profit despite a challenging economic environment [1][2]. Financial Performance - For the first three quarters of 2025, Meinuo Energy reported a revenue of 515 million yuan, representing a year-on-year growth of 17.28% [1]. - The net profit attributable to shareholders reached 66.27 million yuan, marking a 21.38% increase compared to the previous year [1]. - The net profit after deducting non-recurring gains and losses was 57.46 million yuan, reflecting a 20.65% year-on-year growth, indicating a solid improvement in the company's core business profitability [1]. - The weighted average return on equity was 4.98%, an increase of 0.88 percentage points from the same period last year, showing enhanced asset operational efficiency [1]. Asset Structure - The total asset scale has slightly decreased since the beginning of the year, primarily due to high cash dividends and optimized financial management, rather than a contraction in operations [2]. - Construction in progress increased by 64.22% compared to the beginning of the year, indicating a proactive investment in future business expansion [2]. - Accounts receivable growth is attributed to increased installation engineering activities, reflecting ongoing business scale expansion [2]. Shareholder Returns - Meinuo Energy implemented a cash dividend distribution plan for the first half of 2025, distributing 1.50 yuan per 10 shares (tax included), totaling approximately 35.79 million yuan, highlighting the company's commitment to shareholder returns and strong cash flow [2]. Strategic Focus - The company is divesting its stake in Hancheng Pudong Village Bank to further concentrate on its clean energy core business and optimize its asset structure [2]. - Meinuo Energy is actively expanding into new energy sectors while maintaining stable growth in traditional gas operations, benefiting from policies promoting energy structure optimization and clean energy adoption [2]. Future Outlook - Meinuo Energy aims to deepen its core business, optimize resource allocation, and drive high-quality development, with expectations of solidifying its leading position in the regional energy market as new projects come online [3].

Group 1 - The core viewpoint of the news is that Meinuo Energy reported its third-quarter performance, showing growth in revenue and net profit, while basic earnings per share decreased slightly [1] Group 2 - For the first three quarters of 2025, Meinuo Energy's revenue was approximately 515 million yuan, representing a year-on-year increase of 17.28% [1] - The net profit attributable to shareholders was about 66.27 million yuan, reflecting a year-on-year increase of 21.38% [1] - The basic earnings per share stood at 0.27 yuan, which is a year-on-year decrease of 6.9% [1] Group 3 - As of the report, Meinuo Energy's market capitalization was 3.1 billion yuan [2]

一、董事会会议召开情况 陕西美能清洁能源集团股份有限公司（以下简称"公司"）第三届董事会第十 六次会议通知已于 2025 年 10 月 22 日通过通讯方式送达各位董事，本次会议于 2025 年 10 月 24 日以现场结合通讯方式在公司三号会议室召开。本次会议由公 司董事长晏立群先生召集并主持，会议应出席董事 9 名，实际出席董事 9 名（其 中晏立群先生、晏成先生、相里六续先生、高永威先生以通讯方式出席），公司 高级管理人员、审计监察部人员列席了本次会议。本次会议的召集、召开和表决 程序符合《中华人民共和国公司法》及相关法律、行政法规、部门规章、规范性 文件和《公司章程》等有关规定，会议合法、有效。 二、董事会会议审议情况 证券代码：001299 证券简称：美能能源 公告编号：2025-034 陕西美能清洁能源集团股份有限公司 第三届董事会第十六次会议决议公告 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。 2.《第三届董事会审计委员会第十二次会议决议》。 特此公告。 （一）《关于<2025 年第三季度报告>的议案》 经出席董事审议，一致同意通过该议案，并 ...