Market Overview - On September 17, the gas sector rose by 0.15% compared to the previous trading day, with Dazhong Public Utilities leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Dazhong Public Utilities (600635) closed at 4.85, with a gain of 6.59% and a trading volume of 2.2875 million shares, amounting to a transaction value of 1.073 billion yuan [1] - Other notable performers included: - Zhongtai Co., Ltd. (300435) at 19.25, up 2.56% [1] - Fuan Longyuan (002911) at 11.54, up 2.49% [1] - Changchun Gas (600333) at 5.85, up 1.92% [1] - New Natural Gas (603393) at 29.21, up 1.14% [1] Fund Flow Analysis - The gas sector saw a net inflow of 90.0868 million yuan from institutional investors, while retail investors experienced a net outflow of 34.2687 million yuan [2] - The main stocks with significant fund flows included: - Dazhong Public Utilities with a net inflow of 68.1613 million yuan [3] - Fuan Energy with a net inflow of 18.0718 million yuan [3] - Changchun Gas with a net inflow of 13.9757 million yuan [3]

证券代码：002267 证券简称：陕天然气 公告编号：2025-040 陕西省天然气股份有限公司 关于因签订物资供应协议形成关联交易的公告 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。 一、关联交易概述 为规范企业采购管理，充分发挥规模采购优势，防范风险，陕西省天 然气股份有限公司（以下简称"公司"）及下属全资、控股子公司拟与陕西 延长石油物资集团有限责任公司（以下简称"延长物资集团"）及下属子公 司签订物资集中采购《物资供应框架协议》。延长物资集团及下属子公司 向公司及下属全资、控股公司提供物资采购服务。 延长物资集团为公司间接控股股东陕西延长石油（集团）有限责任公 司全资子公司， 陕西延长石油物资集团江苏有限公司、 陕西延长石油物 资集团西安有限公司、陕西延长石油物资集团天津有限公司、陕西延长石 油物资集团上海有限公司、江苏延长国际物流有限公司及陕西延长石油物 资集团延安有限公司为延长物资集团控股公司，根据《深圳证券交易所股 票上市规则》的有关规定，本次交易构成公司的关联交易。 公司第六届董事会第二十二次会议于 2025 年 9 月 12 日审议通过了 ...

证券代码：002267 证券简称：陕天然气 公告编号：2025-039 陕西省天然气股份有限公司 第六届董事会第二十二次会议决议公告 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。 关联董事刘宏波、陈东生、毕卫、闫禹衡、张栋、郭娜对该议案回避 表决。 表决结果：5 票同意，0 票反对，0 票弃权。 1 同意该议案。 三、备查文件 一、董事会会议召开情况 陕西省天然气股份有限公司（以下简称"公司"）第六届董事会第二十 二次会议于 2025 年 9 月 12 日以通讯方式召开。召开本次会议的通知已于 2025 年 9 月 9 日以直接送达或电子邮件方式送达各位董事。会议应参加 表决董事 11 名，实际参加表决董事 11 名。会议的召开符合法律法规和《公 司章程》的有关规定。 二、董事会会议审议情况 审议通过《关于与陕西延长石油物资集团有限责任公司及其子公司 签订物资供应协议形成关联交易的议案》 具体内容详见公司于 2025 年 9 月 16 日在指定媒体和巨潮资讯网披露 的《关于因签订物资供应协议形成关联交易的公告》（公告编号： 2025-040）。 第六届董事会 ...

Group 1 - The company, Shaanxi Natural Gas (SZ 002267), announced that its 22nd meeting of the 6th board of directors was held on September 12, 2025, via communication methods [1] - The meeting reviewed a proposal regarding the signing of a material supply agreement with Shaanxi Yanchang Petroleum Material Group Co., Ltd. and its subsidiaries, which involves related party transactions [1] - For the first half of 2025, the company's revenue composition was 66.62% from pipeline transportation and 33.38% from urban gas sales [1] Group 2 - As of the report, the market capitalization of Shaanxi Natural Gas is 9 billion yuan [1]

Core Viewpoint - Shaanxi Natural Gas (002267.SZ) announced a framework agreement for centralized procurement of materials with Shaanxi Yanchang Petroleum Material Group Co., Ltd. to enhance procurement management and leverage scale advantages while mitigating risks [1] Group 1 - The agreement involves Shaanxi Yanchang Petroleum Material Group and its subsidiaries providing procurement services to Shaanxi Natural Gas and its wholly-owned and controlling subsidiaries [1] - Shaanxi Yanchang Petroleum Material Group is a wholly-owned subsidiary of the indirect controlling shareholder, Shaanxi Yanchang Petroleum (Group) Co., Ltd. [1] - The transaction constitutes a related party transaction as per the regulations of the Shenzhen Stock Exchange [1]

Group 1 - The company announced that the cross-province pipeline project, Huanghe directional drilling, has completed the expansion drilling and is currently in the pipeline back-dragging phase [1] - Once completed, the project will establish a resource transportation channel between the company and Shanxi [1] - Specific routing and transportation details of the China-Mongolia-Russia project have not been disclosed, indicating a need for ongoing monitoring of public information updates to assess potential impacts [1] Group 2 - Investors expressed concerns regarding the importance of the cross-province pipeline for the company's future development and its potential to become a benchmark for profitability for associated companies [3] - There is speculation about the impact of the China-Mongolia-Russia memorandum on the future operation of the pipeline, with an estimated annual capacity of 50 billion cubic meters affecting regions including Inner Mongolia, Shanxi, and other areas in North China [3]

Core Viewpoint - The company acknowledges that its LNG business has experienced fluctuations in profitability due to market price changes and demand conditions, but these fluctuations have had a limited impact on overall revenue [2]. Group 1: Business Strategy - The company plans to continue focusing on cost reduction through precise management and deep exploration of cost-saving opportunities [2]. - The company aims to strengthen cost and capital management by reducing costs in production and lowering non-production expenditures [2]. - The goal is to ensure a hard decline in costs and expenses, thereby continuously enhancing profitability [2].

（文章来源：证券日报） 证券日报网讯陕天然气9月2日在互动平台回答投资者提问时表示，目前，公司控股股东及铜川天然气正 在积极完善产权手续办理工作，推进资产权属合规及相关程序，待符合注入条件后，实施资产注入事 宜。公司将严格按照法律法规履行信息披露义务。 ...

Core Viewpoint - The company emphasizes the importance of equity incentives in enhancing employee motivation and driving long-term development, while currently refraining from implementation due to comprehensive considerations [2]. Group 1 - The company is actively researching and formulating plans for equity incentives, indicating a commitment to future implementation [2]. - The decision to delay equity incentives is based on a cautious and thorough evaluation of various factors [2]. - The company will continue to monitor improvements in operational performance, financial strength, and corporate governance, as well as changes in relevant laws and regulations [2]. Group 2 - The company plans to implement long-term incentive mechanisms, such as equity incentives, once internal and external conditions are favorable [2].

Market Performance - The gas sector increased by 0.19% on September 1, with Baichuan Energy leading the gains [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Individual Stock Performance - Baichuan Energy (600681) closed at 3.87, up 4.31% with a trading volume of 336,600 shares and a turnover of 129 million yuan [1] - Jiufeng Energy (605090) closed at 29.66, up 3.09% with a trading volume of 130,000 shares and a turnover of 2.68 million yuan [1] - Shengtong Energy (001331) closed at 12.04, up 2.38% with a trading volume of 56,200 shares and a turnover of 67.25 million yuan [1] - Other notable performers include Telesis (834014) up 2.34%, Victory Co. (000407) up 1.93%, and Kaitian Gas (831010) up 1.81% [1] Fund Flow Analysis - The gas sector experienced a net outflow of 21.30 million yuan from institutional investors, while retail investors saw a net inflow of 0.36 million yuan [2] - Jiufeng Energy had a significant net inflow of 61.44 million yuan from institutional investors, despite a net outflow from retail investors [3] - Longchun Gas (600333) and Baichuan Energy also saw mixed fund flows, with institutional inflows but retail outflows [3]