白音华煤电成立于2003年12月28日，注册资本达38.62亿元，经营范围包括矿产品生产和销售、煤化 工、煤提质、粉煤灰综合利用和成品销售等。 本次重组的交易对方为国家电投集团内蒙古能源有限公司，其注册资本为1亿元，为国家电投集团全资 子公司。 市值约400亿元的A股公司电投能源（002128.SZ）正在推进重大资产重组。 5月5日，电投能源（002128）公告，4月30日，公司收到实际控制人国家电力投资集团有限公司（以下 简称"国家电投集团"）通知，其拟以国家电投集团内蒙古白音华煤电有限公司（简称"白音华煤电"）股 权与电投能源进行资产重组。电投能源拟通过发行股份及支付现金方式购买上述白音华煤电100%股 权，并将视具体情况募集配套资金。相关方案尚待进一步商讨确定。 公告称，鉴于上述事项尚存在不确定性，为维护投资者利益，避免对公司股票交易造成重大影响，公司 股票自5月6日（星期二）开市时起停牌，预计停牌不超过10个交易日。 一季度归母净利润下降，主要是营业成本上升。今年一季度，公司营业收入较上年同期增加1.92亿元， 而营业成本为48.59亿元，较上年同期增加7.74亿元。 一季度，公司销售毛利率、净利率分 ...

据国家电投集团官网信息，白音华煤电旗下的露天矿位于内蒙古锡林郭勒盟西乌珠穆沁旗白音华化工园区内，上述露天矿是国家重点建设的13个大型煤炭基 地之一，是国家能源重点发展地区，更是国家电投集团发展的重点区域和能源基地。 5月5日晚间，电投能源（002128.SZ，停牌）公告称，于4月30日公司收到实际控制人国家电力投资集团有限公司（以下简称国家电投集团）《关于筹划发行 股份及支付现金购买资产并募集配套资金暨关联交易事项的通知》，拟以国家电投集团内蒙古白音华煤电有限公司（以下简称白音华煤电）的股权与电投能 源进行资产重组。电投能源拟通过发行股份及支付现金方式购买上述标的资产，并将视具体情况募集配套资金。 每经记者 王佳飞 每经编辑 杨夏 能源巨头资产重组再迎"大动作"。 电投能源预计在不超过10个交易日的时间内披露本次交易方案，即在5月20日前披露相关信息。 公告显示，白音华煤电经营范围包括矿产品生产和销售、煤化工、煤提质、粉煤灰综合利用和成品销售，常用有色金属冶炼等。 记者注意到，白音华煤电的经营性资产的经营权和其投资所形成的股权目前均处于被电投能源托管状态。为了提高国有资本配置效率，充分整合资源、发挥 规模效应 ...

Summary of Key Points Core Insights - The report highlights various companies undergoing temporary suspensions of trading due to different reasons, including financial disclosures and potential delisting risks. This indicates a volatile market environment where investor confidence may be affected by such events [2][3][4]. Company Specifics - ST Jiuzhi (000989) announced a temporary suspension of trading on May 6, 2025, due to the cancellation of other risk warnings [2]. - In the case of ST Gongzhi (000584), trading was suspended due to a risk warning regarding potential delisting, effective from April 28, 2025 [2]. - ST Hengli (000622) and Tianmao Group (000627) also faced trading suspensions due to their inability to disclose periodic reports within the legal timeframe, effective from May 6, 2025 [2]. - Binhai Energy (000695) is undergoing a trading suspension as it plans to issue shares for asset acquisition and raise matching funds, effective from April 30, 2025 [2]. - Electric Power Investment Energy (002128) is also suspended for similar reasons related to asset acquisition and related party transactions, effective from May 6, 2025 [2]. Industry Context - The report reflects a broader trend in the market where companies are facing increased scrutiny and regulatory challenges, leading to trading suspensions. This could signal potential investment risks in the affected sectors [2][3][4].

Group 1 - Kexin Technology plans to repurchase shares worth between 30 million and 50 million yuan, with a maximum repurchase price of 80 yuan per share, for employee stock ownership plans or capital reduction [1] - Jiahua Technology's shareholder plans to reduce holdings by up to 1.5% of the company's total shares, amounting to a maximum of 116,000 shares, between May 28, 2025, and August 25, 2025 [1] - Beiqi Blue Valley's subsidiary reported cumulative sales of 38,041 vehicles this year, representing a year-on-year increase of 192.53% [2] Group 2 - AVIC Finance plans to transfer shares of AVIC Xi'an Aircraft Industry Group and AVIC Onboard Systems, totaling 4.067 billion yuan, to its controlling shareholder [2] - Haide shares' executives plan to increase their holdings by at least 20.73 million yuan within six months [3] - Dabeinong's subsidiary received planting approval for genetically modified soybeans in Brazil, marking significant progress in the South American market [4] Group 3 - Yongan Pharmaceutical's chairman is under investigation, but the company's operations remain normal [4] - Teruid's subsidiary is expected to win a 126 million yuan project from the State Grid, which will enhance the company's brand and industry influence [4][5] - Junxin shares plan to repurchase shares worth between 200 million and 300 million yuan, with a maximum price of 30.57 yuan per share [5] Group 4 - Meinian Health plans to reduce its holdings by up to 3% of the company's total shares, amounting to a maximum of 11.7 million shares, starting from May 27, 2025 [7] - Electric Power Investment is planning a major asset restructuring, leading to a temporary suspension of its stock [9] - Tongda shares are expected to win a 207 million yuan project from the State Grid, which will positively impact future operating performance [10] Group 5 - Xintian Technology's major shareholder plans to reduce holdings by up to 3% of the company's total shares, amounting to a maximum of 580,410 shares [11] - Huizhou Intelligent's controlling shareholder and some executives plan to increase their holdings by between 29.2 million and 58.4 million yuan [12] - Zhongdali De plans to sell a 50% stake in Shanghai Ketaike Transmission System Co., Ltd. for 9.2777 million yuan to optimize its asset structure [14] Group 6 - Jinlitai's stock will be suspended due to the inability to disclose periodic reports within the statutory deadline [15] - Chuhuan Technology's major shareholder plans to reduce holdings by up to 3% of the company's total shares, amounting to a maximum of 239,560 shares [15] - Guilin Sanjin's subsidiary received approval for clinical trials of a new indication for a monoclonal antibody injection [16] Group 7 - Plit plans to sign a strategic supply agreement for sodium-ion batteries, committing to supply at least 1 GWh over four years [17] - Dalian Electric Porcelain's subsidiary is expected to win a project worth approximately 71 million yuan from the State Grid [18]

Investment Rating - The report maintains a positive outlook on the coal industry, indicating an "Overweight" rating [1]. Core Insights - The report highlights that coal prices are under pressure during the off-season, with a forecasted contraction in imports expected to support prices [1]. - The report emphasizes that domestic coal production is expected to stabilize, with a potential rebound in coking coal prices as demand increases in the peak season [1]. - Key recommended stocks include China Shenhua, Shaanxi Coal, and China Coal Energy for stable operations and high dividends, while Huabei Mining and Pingmei Shenma are noted for their undervalued growth potential [1]. Summary by Sections Recent Industry Policies and Dynamics - New energy consumption limits for various industries, including coal, are set to take effect, potentially saving 24.52 million tons of standard coal annually [9]. - Coal production in major provinces like Shanxi and Inner Mongolia has seen significant year-on-year growth, contributing to a record high in domestic coal output [9]. Price Trends - As of April 30, 2025, the prices for various grades of thermal coal have seen slight declines, with Q4500, Q5000, and Q5500 thermal coal prices reported at 508, 570, and 650 CNY/ton respectively [1][10]. - Coking coal prices have remained stable, with key prices reported at 1380 CNY/ton for Shanxi's main coking coal [1][13]. Inventory and Demand - The average daily coal inflow to the Bohai Rim ports increased by 4.62% to 1.9614 million tons, while the outflow decreased by 1.14% to 1.9894 million tons [21]. - Port inventories decreased slightly to 31.035 million tons, reflecting a 0.21% drop [21]. Shipping Costs - Domestic coastal shipping costs have risen slightly, with average freight rates reported at 37.57 CNY/ton, marking a 0.31% increase [28]. - International shipping rates have also seen increases, particularly for coal from Indonesia and Australia [28]. Company Valuations - The report includes a valuation table for key companies, highlighting their stock prices, market capitalizations, and earnings per share (EPS) forecasts for 2024 to 2027 [34].

Mergers and Acquisitions - Xingye Yinxin plans to acquire Atlantic Tin Company for approximately 4.54 billion RMB, with a total investment of about 0.98 million AUD at a price of 0.24 AUD per share [1] - Electric Power Investment Energy is undergoing an asset restructuring with its actual controller, State Power Investment Corporation, involving the acquisition of Inner Mongolia Baiyin Hua Coal Power equity [2] - Huibo Yuntong intends to purchase control of Baode Computer System Co., Ltd. through a combination of share issuance and cash payment, with details to be disclosed in a restructuring report [3] Share Buybacks and Increases - Kesi Technology plans to repurchase shares worth between 30 million and 50 million RMB, using self-owned funds for employee stock ownership plans or capital reduction [4] - Fuchuang Precision's major shareholder, Shenyang Advanced Manufacturing Technology Industry Co., Ltd., aims to increase its stake in the company by 1.2 billion to 2.4 billion RMB over the next 12 months [5] Regulatory and Compliance Issues - Yong'an Pharmaceutical's actual controller and chairman, Chen Yong, is under investigation and has been detained, with the company monitoring the situation closely [6] - *ST Gongzhi received a notice of termination of listing due to financial reporting issues, including an audit report with no opinion expressed for the 2024 fiscal year [8] - Xianju Pharmaceutical was fined 195 million RMB for engaging in monopolistic practices related to the pricing of dexamethasone phosphate sodium raw materials [9] - *ST Hengli failed to disclose periodic reports within the legal timeframe, leading to potential termination of its stock listing [10] - Tianmao Group also failed to disclose its periodic reports on time, resulting in stock suspension [11]

Suspension - Electric Power Investment Energy is planning an asset restructuring, resulting in stock suspension [1] - Huibo Yuntong intends to acquire control of Baode Computer System Co., Ltd., leading to stock suspension [2] Mergers, Acquisitions, and Capital Increases - Xingye Yinxin plans to acquire Atlantic Tin Industry Co., Ltd. for 454 million yuan through an off-market tender offer [3] - Cambrian is looking to raise no more than 4.98 billion yuan through a private placement for projects related to large model chip platforms, software platforms, and to supplement working capital [3] Share Buybacks, Increases, and Equity Transfers - Fuchuang Precision's Shenyang Advanced plans to increase its stake in the company by 120 to 240 million yuan [4] - Wanxing Technology has received a commitment letter for a stock buyback loan of 45 million yuan [5] Daily Operations and External Investments - Huada Technology has secured a customer project with an expected total sales amount of 6.35 billion yuan over its lifecycle [6] - Zijin Mining plans to restructure its overseas gold mining assets under its wholly-owned subsidiary, Zijin Gold International Co., Ltd., and apply for a separate listing on the Hong Kong Stock Exchange [6] - Aolide's subsidiary has signed a sales contract worth 655 million yuan with Chengdu BOE [7] - Shuangjie Electric intends to exchange 21.1883 million shares of Jinli for Foshan Plastic Technology [8] - AVIC Industry's subsidiary plans to transfer shares of AVIC Xi'an Aircraft and AVIC Onboard to its controlling shareholder, AVIC, for 4.067 billion yuan [9] - Kangli Elevator's Zhu Meijuan has inherited 44.89% of the company's shares, becoming the controlling shareholder and actual controller [10] - Zhongdali De plans to sell 50% equity of Ketaike to Yongli Co., Ltd. [11] - Yong'an Pharmaceutical's actual controller and chairman, Chen Yong, is under investigation and has been placed under detention [12] Performance Changes - BYD's new energy vehicle sales increased by 46.98% year-on-year in the first four months [13] - BAIC Blue Valley's subsidiary has accumulated sales of 38,041 vehicles this year, a year-on-year increase of 192.53% [14] - SAIC Group's new energy vehicle sales grew by 71.74% year-on-year in April [15]

证券代码：002128 证券简称：电投能源 公告编号：2025019 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、停牌事由和工作安排 为贯彻落实国务院关于推动资本市场高质量发展和提高上市公司 质量的有关精神，2025年4月30日，内蒙古电投能源股份有限公司（以 下简称"公司"或"电投能源"）收到实际控制人国家电力投资集团 有限公司（以下简称"国家电投集团"）《关于筹划发行股份及支付 现金购买资产并募集配套资金暨关联交易事项的通知》（以下简称" 《通知》"），拟以国家电投集团内蒙古白音华煤电有限公司股权与 电投能源进行资产重组。电投能源拟通过发行股份及支付现金方式购 买上述标的资产，并将视具体情况募集配套资金（以下简称"本次交 易"）。相关方案尚待进一步商讨确定。 鉴于上述事项尚存在不确定性，为维护投资者利益，避免对公司 股票交易造成重大影响，根据深圳证券交易所的相关规定，经申请， 公司股票（证券简称：电投能源，证券代码：002128）自2025年5月6日 （星期二）开市时起停牌，停牌日期自2025年5月6日起不超过10个交易 日。 公司预计在不超过10 ...

Investment Rating - The report maintains an "Overweight" rating for the coal mining industry [4] Core Viewpoints - The expectation of increased steel import tariffs in India is likely to boost demand for South African thermal coal, as the tariffs aim to protect domestic steel producers from low-priced imports [2] - The report highlights potential investment opportunities in companies such as Shenhua Energy, Shaanxi Coal and Chemical Industry, and others, suggesting that these companies may benefit from the current market dynamics [3][6] Summary by Sections Coal Mining - As of April 30, 2025, coal prices showed mixed trends: Newcastle coal (6000K) increased by $3.8/ton (+4.1%) to $97.5/ton, while European ARA coal decreased by $1.0/ton (-1.1%) to $93.8/ton [1][37] - South African coal exports are expected to rebound to over 6 million tons due to increased demand from the sponge iron industry [7] Investment Recommendations - The report recommends buying shares in companies such as Shaanxi Coal, China Shenhua, and others, with projected earnings per share (EPS) and price-to-earnings (PE) ratios indicating potential growth [6] - Specific companies highlighted for their strong performance include China Coal Energy and Jinneng Holding, with EPS forecasts for 2024 ranging from 1.21 to 2.95 [6] Market Trends - The report notes a significant drop in energy prices, with Brent crude oil down by $3.00/barrel (-4.54%) and WTI down by $4.06/barrel (-6.52%) as of the latest review [1][14] - The overall coal market is experiencing fluctuations, with the potential for increased operational costs due to transportation challenges in South Africa [7]

Core Insights - The company reported a revenue of 29.859 billion yuan for 2024, representing a year-on-year increase of 11.23% [1] - The net profit attributable to shareholders was 5.342 billion yuan, up 17.15% year-on-year, with a basic earnings per share of 2.38 yuan, reflecting a 12.8% increase [1] Coal Business - In 2024, both coal production and sales increased by 3%, reaching approximately 48 million tons and 47.76 million tons respectively [2] - The unit selling price of coal rose by 9% to 213.5 yuan per ton, while the sales cost remained stable at 89.3 yuan per ton, resulting in a gross profit of 124 yuan per ton, up 16% year-on-year [2] Aluminum Industry - The aluminum segment saw a 21.6% increase in gross profit per ton due to rising aluminum prices, with production and sales also increasing by 3% to 900,000 tons [2] - The unit selling price for aluminum was 17,402 yuan per ton, a 7% increase, while the unit cost was 14,326 yuan per ton, up 0.4% [2] Power Business - The company experienced a 95% increase in sales from renewable energy, while coal power sales decreased by 1% to 5 billion kWh [3] - The unit revenue for coal power was 0.34 yuan per kWh, down 3%, and the unit gross profit decreased by 17% to 0.07 yuan per kWh [3] - For renewable energy, the unit price was 0.27 yuan per kWh, down 13%, with a gross profit of 0.12 yuan per kWh, down 29% [3] Dividend and Shareholder Returns - The company announced a cash dividend of 1.793 billion yuan, representing 35.67% of the net profit attributable to shareholders, with a dividend yield of 4.5% [3] Profit Forecast and Investment Rating - Revenue projections for 2025-2027 are 29.9 billion, 35 billion, and 36.6 billion yuan, with net profits of 5.56 billion, 6.14 billion, and 6.54 billion yuan respectively [4] - The company maintains a "buy" rating due to expected growth in coal, aluminum, and electricity businesses [4]