香港交易及結算所有限公司及香港聯合交易所有限公司對本通知的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通知全部或任何部份內容 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 承董事會命 中國中煤能源股份有限公司 董事長、執行董事 王樹東 中國北京 2025 年 10 月 13 日 於本通知刊發日期，本公司的執行董事為王樹東、廖華軍和趙榮哲；非執行董事 為徐倩；獨立非執行董事為景奉儒、詹豔景和黃江天。 * 僅供識別 董事會會議通知 中國中煤能源股份有限公司（「本公司」）董事會（「董事會」）謹此公佈，本 公司將於二零二五年十月二十七日（星期一）舉行董事會會議，藉以審議及批准 （其中包括）本集團（包括本公司及附屬公司）截至二零二五年九月三十日止九 個月之季度業績等事宜。 ...

Core Points - The stock price of China Coal Energy increased by 2.02% on October 9, reaching 11.59 CNY per share, with a total market capitalization of 153.668 billion CNY [1] - The company reported a year-to-date stock price decline of 2.78%, with a 1.53% drop over the last five trading days, but a 3.57% increase over the last 20 days and a 5.54% increase over the last 60 days [1] - The main business revenue composition includes coal business (81.03%), coal chemical business (12.48%), and coal mining equipment manufacturing (6.24%) [1] Financial Performance - For the first half of 2025, the company achieved operating revenue of 74.436 billion CNY, a year-on-year decrease of 19.95%, and a net profit attributable to shareholders of 7.705 billion CNY, down 21.28% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 42.873 billion CNY, with 19.185 billion CNY distributed in the last three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 12.08% to 95,000, with an average of 0 circulating shares per shareholder [2] - Major shareholders include Hong Kong Central Clearing Limited, holding 66.186 million shares, and various ETFs such as Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, which increased their holdings [3]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國中煤能源股份有限公司 呈交日期: 2025年9月30日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601898 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 9,152,000,400 | RMB | | 1 | RMB | | 9,152,000,400 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 9,152,000,400 | RMB | | | 1 RMB | | 9,152,000,400 | | ...

Core Viewpoint - China Coal Energy Co., Ltd. has experienced a decline in stock price and financial performance in 2025, with significant net outflows of capital and a decrease in shareholder numbers [1][2][3] Financial Performance - As of June 30, 2025, China Coal Energy reported a revenue of 74.436 billion yuan, a year-on-year decrease of 19.95%, and a net profit attributable to shareholders of 7.705 billion yuan, down 21.28% year-on-year [2] - The company's stock price has dropped 4.04% year-to-date, with a 2.64% decline over the last five trading days, but a slight increase of 0.88% over the last 20 days and 3.60% over the last 60 days [2] Shareholder and Capital Flow - The total market capitalization of China Coal Energy is approximately 151.679 billion yuan, with a trading volume of 169 million yuan and a turnover rate of 0.16% [1] - As of June 30, 2025, the number of shareholders decreased by 12.08% to 95,000, with an average of 0 circulating shares per person [2] - There was a net outflow of 22.7682 million yuan in principal funds, with large orders showing a buy of 22.5229 million yuan and a sell of 41.457 million yuan [1] Business Segmentation - The company's main business segments include coal business (81.03% of revenue), coal chemical business (12.48%), and coal mining equipment manufacturing (6.24%) [2] - China Coal Energy is classified under the coal mining industry, specifically focusing on thermal coal [2] Dividend Distribution - Since its A-share listing, China Coal Energy has distributed a total of 42.873 billion yuan in dividends, with 19.185 billion yuan distributed over the last three years [3] Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited and various ETFs, with notable changes in their holdings [3]

Summary of China Coal Energy Conference Call Company Overview - China Coal Energy is a state-owned enterprise under China Coal Group, with a shareholding ratio of approximately 57% [6] - The company was listed on A-shares in 2008 and holds 62% of Shanghai Energy [6] - The business segments include coal production and trade, coal chemical, power generation, and equipment manufacturing, with thermal coal accounting for over 80% of its operations [6] Industry Insights - The thermal coal market has significantly benefited, with China Coal Energy positioned as the second-largest state-owned enterprise, indicating broad future development potential [2][4] - The coal industry is expected to transition from a downward cycle that began in 2023 to a gradual upward phase starting in Q3 2025, driven by unexpected demand and a contraction in supply due to anti-involution policies [3] Financial Performance and Projections - China Coal Energy's projected performance for 2025 is approximately 16.5 billion yuan, with a current P/E ratio of about 10 times and a dividend yield of 3.3% [2][5] - The company has demonstrated industry-leading stability and growth through cost reduction and efficiency improvements [2][5] Production Capacity and Cost Management - The company has a controlling capacity of 163 million tons and an equity capacity of 145 million tons, with the Pingluo mining area accounting for 62% of total capacity [7] - The sales of thermal coal are primarily based on long-term contracts, constituting 80% of sales, which enhances stability [9] - The cost of self-produced coal has decreased by 10% year-on-year to 263 yuan per ton, showcasing significant cost control measures [9] Growth Drivers - The increase in low-cost mining capacity and the construction of new mines are expected to drive future growth [10] - The magnesium chemical business has an integrated industrial chain advantage, which helps mitigate cyclical fluctuations [11] - The company is actively optimizing assets, with significant asset impairment provisions nearly completed, enhancing the asset structure and providing room for valuation recovery [13] Valuation and Dividend Policy - Current P/B ratio is 0.91, indicating undervaluation compared to peers like Shenhua (15-16 times) and Shanxi Coal (10-23 times) [14] - The dividend payout ratio is approximately 35%, significantly lower than Shenhua's 75% and other regional state-owned enterprises at 60% [15] - There is potential for increasing the dividend rate in the future due to policy encouragement for higher dividends and state-owned enterprise market value management requirements [15] Strategic Outlook - The company is well-positioned for investment in the current market environment, with strong performance stability due to the high proportion of long-term contracts [17] - The company has a solid cost reserve and is expected to benefit from the overall recovery of the coal sector [17] - Future development prospects are promising, with a focus on asset optimization, cost reduction, and increased dividends, alongside a low current valuation that has significant recovery potential [18][19]

快查股权穿透数据显示，该公司为中煤能源股份全资子公司。 （来源：快查一企业中标了） 快查APP显示，中煤能源股份相关公司中煤平朔集团有限公司于2025年9月23日发布一则招标信息，项 目名称为井工一矿四煤煤仓修复项目询价通知，预算金额为153.33万元。 ...

Summary of the Conference Call for China Coal Energy Industry Overview - The coal market experienced fluctuations in August, with thermal coal prices at ports reaching 697 RMB/ton, a month-on-month increase of 6.4% but a year-on-year decrease of 17.4% [2][5] - The coking coal market showed a decline, with Shanxi low-sulfur coking coal prices at 1,471 RMB/ton, down 30 RMB/ton (2% decrease) month-on-month and down 10% year-on-year [2][6] - The urea market remained weak, with average prices around 1,750 RMB/ton, a 14% year-on-year decline [2][7] - Polyolefin prices averaged about 7,500 RMB/ton, a slight decrease of 5% year-on-year, with expected price ranges for polyethylene and polypropylene in September [2][8] Company Performance - For the first eight months of the year, China Coal Energy produced 89.99 million tons of commercial coal, a decrease of 420,000 tons year-on-year, while sales were 170 million tons, down 10.2 million tons year-on-year [3] - The company’s self-produced coal sales increased by 1.71 million tons, indicating a shift from trade and agency coal [3] - Urea production increased by 24.5% year-on-year to 1.415 million tons, while methanol production rose by 22.2% to 1.317 million tons [3] - The company achieved a profit increase of approximately 2.1 billion RMB in the first half of the year through cost reduction measures [2][9] Market Outlook - The thermal coal market is expected to remain weak in September, with prices projected to fluctuate between 665-695 RMB/ton due to reduced demand from power plants and increased willingness from traders to sell [2][5] - The coking coal market is anticipated to stabilize, with prices for Shanxi low-sulfur coking coal expected between 1,300-1,470 RMB/ton [2][6] - The urea market is expected to continue its weak trend, with prices projected between 1,650-1,700 RMB/ton [2][8] - Polyolefin prices are expected to stabilize, with polyethylene and polypropylene prices projected within specified ranges [2][8] Cost Management - The company has implemented various cost reduction measures, resulting in stable costs in the third quarter compared to the second quarter, with expectations for annual costs to be lower than the previous year [9][20] - The company’s long-term contract fulfillment rate remains high, ensuring business stability and customer relationships [10][11] Future Projections - The company maintains an optimistic outlook on thermal coal prices, expecting them to fluctuate around a benchmark price of 675 RMB/ton, with potential highs exceeding 700 RMB [4][13] - The company’s coal chemical business is expected to remain profitable, with the resumption of operations in the second half of the year anticipated to offset losses incurred during maintenance [22] Additional Insights - The company is actively monitoring regulatory impacts from the Energy Bureau's recent directives, which are expected to have a limited effect on operations [16][17] - New mining projects, Li Bi and Wei Zi Gou, are on track for trial production in the second half of 2026 [15]

Group 1 - The company, China Coal Energy (601898.SH), announced a projected commodity coal production of 11.6 million tons for August 2025, representing a year-on-year decrease of 1.8% [1] - The company's commodity coal sales are expected to reach 20.85 million tons, reflecting a year-on-year decline of 12.8% [1]

Core Viewpoint - China Coal Energy (601898.SH) announced a decrease in both coal production and sales for August 2025, indicating potential challenges in the coal market [1] Group 1: Production and Sales Data - The company's coal production for August 2025 is projected to be 11.6 million tons, representing a year-on-year decrease of 1.8% [1] - The coal sales volume is expected to reach 20.85 million tons, which reflects a year-on-year decline of 12.8% [1]

中煤能源(01898HK)在港交所发布公告称，前8月商品煤销量17070万吨，同比下跌5.6%；8月商品煤销 量为2085万吨，同比下跌12.8%。 ...