证券代码：002911 证券简称：佛燃能源 公告编号：2025-088 佛燃能源集团股份有限公司 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间 现场会议召开时间：2025年10月31日（星期五）下午3:30； 网络投票时间：通过深圳证券交易所交易系统进行投票的时间为2025年10月31日9:15-9:25，9:30- 11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的时间为2025年10月31日9:15-15:00。 2025年第四次临时股东大会 1.本次股东大会未出现否决议案的情形； 决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 4.会议召集人：公司董事会。 5.会议主持人：董事长尹祥先生。 6.本次会议的召集、召开与表决程序符合《公司法》《上市公司股东会规则》《深圳证券交易所股票上 市规则》等法律、法规、规范性文件及《佛燃能源集团股份有限公司章程》的规定。 参加本次会议的股东及股东代理人共225人，代表股份1,079,818,587股，占公司总股 ...

（文章来源：证券日报） 证券日报网讯 10月31日晚间，佛燃能源发布公告称，公司分别于2025年10月15日、2025年10月31日召 开的第六届董事会第二十三次会议、2025年第四次临时股东大会审议通过了《关于控股子公司签署天然 气供用气合作协议暨关联交易的议案》，会议同意公司控股子公司武强县中顺天然气有限公司（简 称"武强中顺"）与河北省天然气有限责任公司（简称"河北天然气"）签署《天然气供用气合作协议》 （简称"合作协议"），双方将按约定各自负责连接管线建设部分，在河北天然气资源具有竞争力且价格 不高于武强中顺采购的其他资源价格的前提下，武强中顺同意优先向河北天然气年度购气不少于1，000 万方/合同年。2025年10月31日，武强中顺与河北天然气签署了《天然气供用气合作协议》。 ...

证券代码：002911 证券简称：佛燃能源 公告编号：2025-089 佛燃能源集团股份有限公司 关于控股子公司签署天然气供用气合作协议 暨关联交易的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 特此公告。 佛燃能源集团股份有限公司董事会 2025年11月1日 二、协议进展情况 2025 年 10 月 31 日，武强中顺与河北天然气签署了《天然气供用气合作协 议》。本次合作协议的签署，将优化武强中顺的气源结构，使其由单一气源向多 气源转变，显著提升供气保障能力。同时，有助于进一步降低武强中顺气源采购 成本，增强其市场竞争力，符合公司的发展战略。本次签署的合作协议对公司本 期和未来财务状况、经营成果不会产生重大影响，对公司业务独立性不构成影响。 三、备查文件 《天然气供用气合作协议》。 一、协议基本情况 佛燃能源集团股份有限公司（以下简称"公司"）分别于 2025 年 10 月 15 日、2025 年 10 月 31 日召开的第六届董事会第二十三次会议、2025 年第四次临 时股东大会审议通过了《关于控股子公司签署天然气供用气合作协议暨关联交易 的议案》 ...

证券代码：002911 证券简称：佛燃能源 公告编号：2025-088 佛燃能源集团股份有限公司 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 1.本次股东大会未出现否决议案的情形； 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 2025 年第四次临时股东大会决议公告 （一）会议召开情况 1.会议召开时间 现场会议召开时间：2025 年 10 月 31 日（星期五）下午 3:30； 网络投票时间：通过深圳证券交易所交易系统进行投票的时间为 2025 年 10 月 31 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投 票系统投票的时间为 2025 年 10 月 31 日 9:15-15:00。 2.现场会议召开地点：广东省佛山市禅城区南海大道中 18 号公司 16 楼会议 室。 3.会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 4.会议召集人：公司董事会。 5.会议主持人：董事长尹祥先生。 6.本次会议的召集、召开与表决程序符合《公司法》《上市公司股东会 ...

致：佛燃能源集团股份有限公司 北京市君合（广州）律师事务所（以下简称"本所"）接受佛燃能源集团股份有限 公司（以下简称"公司"）的委托，指派本所经办律师出席了公司于 2025 年 10 月 31 日在广东省佛山市禅城区南海大道中 18 号 16 楼会议室召开的 2025 年第四次临时股东 大会（以下简称"本次股东大会"）的现场会议。现根据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司股东会规则》等中国（为本法律意见之目的，"中国" 不包括香港特别行政区、澳门特别行政区及台湾地区）现行法律、法规和规范性文件（以 下简称"法律、法规"）以及《佛燃能源集团股份有限公司章程》（以下简称"公司章程"）、 《佛燃能源集团股份有限公司股东大会议事规则》（以下简称"公司股东大会议事规则"） 的有关规定，就本次股东大会有关事宜出具本法律意见。 本所经办律师依据本法律意见出具日以前已经发生的事实并基于本所经办律师对有 关事实的了解和对法律、法规的理解发表法律意见。本所经办律师仅就本次股东大会的 召集和召开程序、出席会议人员的资格、本次股东大会的表决程序、表决结果等事项发 表法律意见，不对本次股东大会提案的内容以及提 ...

格隆汇10月31日丨佛燃能源(002911.SZ)公布，2025年10月31日，武强中顺与河北天然气签署了《天然 气供用气合作协议》。本次合作协议的签署，将优化武强中顺的气源结构，使其由单一气源向多气源转 变，显著提升供气保障能力。同时，有助于进一步降低武强中顺气源采购成本，增强其市场竞争力，符 合公司的发展战略。本次签署的合作协议对公司本期和未来财务状况、经营成果不会产生重大影响，对 公司业务独立性不构成影响。 ...

从资金流向上来看，当日燃气板块主力资金净流入3310.87万元，游资资金净流出1.09亿元，散户资金净 流入7585.59万元。燃气板块个股资金流向见下表： 证券之星消息，10月29日燃气板块较上一交易日上涨1.43%，德龙汇能领涨。当日上证指数报收于 4016.33，上涨0.7%。深证成指报收于13691.38，上涨1.95%。燃气板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000593 | 德龙汇能 | 9.58 | 9.99% | 3.82万 | 3655.07万 | | 600803 | 新奧股份 | 19.15 | 4.25% | 23.42万 | 4.39亿 | | 920010 | 凯添燃气 | 13.97 | 3.94% | 8.22万 | 1.13亿 1 | | 920014 | 特瑞斯 | 13.42 | 3.07% | 1.12万 | 1475.12万 | | 002911 | 佛燃能源 | 12.62 | 3.02% | 23.40万 | 2.9 ...

Investment Rating - The report maintains an "Overweight" rating for the gas industry [1] Core Insights - The report highlights that colder weather has led to an increase in gas prices in the US and China, while Europe has entered the inventory withdrawal season with a slight price increase [1][9] - It emphasizes the ongoing adjustments in pricing mechanisms and the gradual recovery of demand, suggesting a positive outlook for gas companies [1][48] Price Tracking - As of October 24, 2025, gas prices have changed week-on-week as follows: US HH +25.4%, European TTF +1.2%, East Asia JKM +0.5%, China LNG ex-factory +6.5%, and China LNG CIF +0.4% [9][11] - The report notes that the price inversion between domestic and international markets has ended [9] Supply and Demand Analysis - The US natural gas market saw a week-on-week price increase of 25.4% due to colder weather, with storage levels rising by 870 billion cubic feet to 38,080 billion cubic feet, a year-on-year increase of 0.6% [14] - In Europe, gas prices increased by 1.2% as the region entered the inventory withdrawal phase, with gas consumption from January to July 2025 reaching 265.4 billion cubic meters, a year-on-year increase of 5% [15] - Domestic gas prices in China rose by 6.5% due to colder weather, with apparent consumption from January to September 2025 increasing by 0.7% to 318.8 billion cubic meters [21][24] Pricing Progress - Nationwide, 65% of cities have implemented residential pricing adjustments, with an average increase of 0.21 yuan per cubic meter [33] - The report indicates that there is still a 10% room for price adjustment in the gas distribution sector [33] Investment Recommendations - The report recommends focusing on companies that can optimize costs and benefit from the ongoing pricing adjustments, highlighting key companies such as Xin'ao Energy, China Gas, and Kunlun Energy [49] - It suggests monitoring companies with quality long-term contracts and flexible scheduling capabilities, such as Jiufeng Energy and Xin'ao Shares [49] - The report also emphasizes the importance of energy independence and suggests关注ing companies with gas production capabilities like New Natural Gas and Blue Flame Holdings [49]

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 12.43 CNY over the next six months [6]. Core Insights - The company reported a revenue of 23.501 billion CNY for Q1-Q3 2025, representing a year-over-year increase of 5.38%, and a net profit of 490 million CNY, up 6.07% year-over-year, primarily due to the expansion of supply chain operations [1]. - The company has announced a shareholder return plan for 2025-2027, committing to a cash dividend of no less than 65% of the net profit attributable to shareholders each year [2]. - The demand for decarbonization in the shipping industry is increasing, creating significant growth opportunities for green methanol, as international regulations push for reduced greenhouse gas emissions [3]. - A collaboration framework agreement was signed with Hong Kong China Gas to invest in green fuel and chemical projects, with a total planned investment of 10 billion CNY [4]. Financial Summary - For the first three quarters of 2025, the company achieved a natural gas supply of 3.524 billion cubic meters, with supply chain and other business revenues reaching 13.621 billion CNY, a year-over-year growth of 20.67% [1]. - The company’s operating cash flow was 524 million CNY, down 57.74% year-over-year, mainly due to increased inventory for business expansion [1]. - The projected revenue growth rates for 2025-2027 are 3.9%, 9.0%, and 8.0%, respectively, with net profit growth rates of 7.7%, 9.7%, and 8.7% [9]. - The company’s earnings per share (EPS) for 2025 is estimated at 0.71 CNY, with a price-to-earnings (PE) ratio of 17.2 [10].

Investment Rating - The report indicates a positive investment outlook for the shipping decarbonization sector, emphasizing the importance of biofuels, RNG, and green methanol as key areas for investment opportunities [3]. Core Insights - The shipping industry is entering a critical phase of decarbonization, driven by frequent policies from the IMO and the EU. The global shipping fuel consumption is approximately 300 million tons, corresponding to carbon emissions exceeding 1 billion tons, with the EU accounting for about 18% of this [3][8]. - The demand for low-carbon fuels is expected to outstrip supply in the short term, with significant compliance costs driving the need for zero or near-zero emissions fuels (ZNZ) [3][36]. - Biofuels are identified as a core measure for existing vessels, with a notable increase in biofuel bunkering at ports like Singapore [3][36]. - The report highlights the potential for biogas, particularly RNG, to significantly reduce emissions and improve energy security, with ambitious production targets set for 2030 in both China and the EU [3][36]. - Green methanol is projected to see rapid growth in demand, with a current estimate of 406 methanol vessels corresponding to a demand exceeding 800,000 tons [3][36]. Summary by Sections 1. Decarbonization Policies - The report outlines the increasing frequency of decarbonization policies from the IMO and the EU, marking a significant acceleration in the implementation of these measures [3][11][18]. 2. Low-Carbon Fuel Demand - There is a broad demand space for low-carbon fuels, with a short-term supply shortage anticipated. The report notes that the compliance costs associated with EU regulations are higher than those of the IMO, which will further stimulate demand for low-carbon fuels [3][36]. 3. Biofuels - Biofuels are highlighted as a critical decarbonization measure for existing vessels, with a significant increase in biofuel bunkering observed at ports like Singapore. The global production of biodiesel is approximately 52 million tons, with expectations for increased usage in shipping as electric vehicles proliferate [3][36]. 4. Biogas - The report emphasizes the growing demand for LNG vessels and the potential for RNG to drive significant growth in the sector, supported by a green premium that could lead to an industry explosion [3][36]. 5. Green Methanol - The report notes a rapid increase in methanol vessels, with a projected demand of over 800,000 tons. However, the global production capacity for green methanol is expected to be only 1.24 million tons by the end of 2025, indicating a supply-demand imbalance [3][36]. 6. Investment Recommendations - The report suggests focusing on companies involved in biofuels, RNG, and green methanol production, including notable firms such as卓越新能, 山高环能, 维尔利, and 中国天楹, among others [3][36].