Core Viewpoint - China Shenhua (601088) expects a decline in net profit attributable to shareholders for the fiscal year 2025, projecting between RMB 50.8 billion and RMB 55.8 billion, which represents a decrease of 10.6% to 18.6% compared to the previously disclosed figure for 2024 of RMB 62.421 billion [1] Financial Performance - The projected profit for 2025 shows a decline of 14.7% to 6.3% when compared to the restated figure for 2024 of RMB 59.544 billion [1] - The company's operational performance remains stable, with core advantages in integrated operations continuing to strengthen [1] Market Conditions - The decline in operating performance is attributed to changes in industry supply and demand dynamics, leading to a decrease in coal sales volume and average selling prices [1] - Energy security and stable supply are effectively ensured despite the challenges faced [1]

2025年，集团生产经营态势保持平稳，一体化运营核心优势持续巩固，能源安全稳定供应得到有力保 障。但受行业供需形势变化影响，集团煤炭销售量及平均销售价格下降，导致经营业绩同比下降。 智通财经APP讯，中国神华(01088)发布公告，预计集团2025年度的归属于公司所有者的本年利润为人民 币508亿元至人民币558亿元，与上年披露数据(2024年：人民币624.21亿元)相比，下降18.6%至10.6%;与 经重述的上年数据(2024年：人民币595.44亿元)相比，下降14.7%至6.3%。 ...

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公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 本公告所載本公司財務數據為根據國際財務報告準則編製的初步核算數據，未經 會計師事務所審計或審閱，可能與經審計的本公司截至2025年12月31日止年度 （「2025年度」）的財務報表數據存在差異。請投資者注意投資風險。 一、 2025年度業績預告情況 經初步測算，預計本集團2025年度的歸屬於本公司所有者的本年利潤為人民 幣508億元至人民幣558億元，與上年披露數據（2024年：人民幣624.21億元） 相比，下降18.6%至10.6%；與經重述的上年數據（2024年：人民幣595.44億 元）相比，下降14.7%至6.3%。 二、情況說明 （一）本年業績變動原因 2025年，本集團生產經營態勢保持平穩，一體化運營核心優勢持續鞏 固，能源安全穩定供應得到有力保障。但受行業供需形勢變化影響，本 集團煤炭銷售量及平均銷售價格下降，導致經營業績同比下降。 1 （在中華人民共和國註冊成立的股份有限公司） （股份代 ...

Group 1 - The core point of the article is that China Shenhua Energy Co., Ltd. plans to issue A-shares and pay cash to acquire 100% equity of several subsidiaries from its controlling shareholder, China Energy Investment Corporation [2][3] - The transaction includes the acquisition of assets such as Guodian Jianshe Inner Mongolia Energy Co., Ltd. and other coal and energy-related companies [2] - The board of directors approved the transaction at meetings held on December 19, 2025, and January 23, 2026, with details available on the Shanghai Stock Exchange website [3] Group 2 - Regarding impairment compensation arrangements, China Energy Group has committed to compensate for the impairment of exploration rights held by its subsidiary, with the asset's book value at 81.5926 million yuan as of July 31, 2025 [4][8] - The compensation period is set for the year of transaction completion and the following two accounting years, specifically 2026, 2027, and 2028 [6] - The compensation will be prioritized in shares issued by China Shenhua, with cash as a secondary option if shares are insufficient [8][9] Group 3 - For the Heidaigou exploration rights, the asset's book value is 2.5007213 billion yuan as of July 31, 2025, with a commitment from China Energy Group to assist in obtaining mining rights by December 31, 2028 [10][11] - If the mining rights are not obtained by the deadline, China Energy Group has committed to repurchase the exploration rights at a price that includes the transaction price and development costs incurred by China Shenhua [11] - The board of directors believes that the commitments made by China Energy Group regarding the exploration rights are fair and reasonable, aligning with the overall interests of the company and its shareholders [12]

证券代码：601088 证券简称：中国神华 公告编号：临 2026-005 中国神华能源股份有限公司 关于发行股份及支付现金购买资产并募集配套资金 暨关联交易事项的进展公告 中国神华能源股份有限公司董事会及全体董事保证本公告内容不存在任何 虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 及其摘要的议案》等与本次交易相关的各项议案，具体内容详见公司于上海证券 交易所网站（www.sse.com.cn）及公司指定信息披露媒体发布的相关公告。 2026年1月23日，公司2026年第一次临时股东会审议通过了《关于<中国神华 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报告书（草案）>及其 摘要的议案》等与本次交易相关的各项议案，具体内容详见公司于上海证券交易 所网站（www.sse.com.cn）及公司指定信息披露媒体发布的相关公告。 （二）关于若干探矿权减值补偿安排的情况 为充分保障上市公司利益，2026年1月28日，国家能源集团就平庄煤业的间 接全资子公司尼勒克县瑞安煤炭有限责任公司持有的探矿权"尼勒克县吉仁台 有烟煤矿西部勘探"（"西部勘探探矿权"或"标的测试资产"） ...

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公告之內 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 就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任 何 損 失 承 擔 任 何 責 任。 茲提述本公司日期為2025年8月1日、2025年8月15日、2025年12月19日 及 2026年1月22日的公告，以及本公司日期為2025年12月24日的通函（「通函」）， 內容有關本公司建議通過發行A股股份及支付現金方式收購資產並於A 股 市 場 募 集 配 套 資 金。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 通 函 所 界 定 者 具 有 相 同 涵 義。 一. 有關若干探礦權的承諾 亦茲提述本公司日期為2026年1月22日 之 公 告，據 此，本公司表明 就 本 次 交 易 而 言，平 莊 煤 業 目 前 持 有 的 若 干 探 礦 權，可 能 於 適 當 時 候 由 國 家 能 源 集 團 公 司 出 具 進 一 步 的 減 值 補 償 承 諾，以 進 一 步 保 障 本 公 司 及 其 股 東 的 利 ...

Core Viewpoint - The coal mining sector experienced a rise of 2.87% on January 26, with China Shenhua leading the gains, while the overall Shanghai Composite Index fell by 0.09% and the Shenzhen Component Index decreased by 0.85% [1] Group 1: Stock Performance - China Shenhua closed at 41.65, up 4.13%, with a trading volume of 685,700 shares and a transaction value of 2.828 billion [1] - Other notable performers included Tuokun Energy, which rose by 3.32% to 14.31, and Huai Bei Mining, which increased by 3.30% to 12.22 [1] - The coal mining sector's stocks showed a mixed performance, with some stocks experiencing declines, such as Zhengmei Electric, which fell by 4.81% to 4.35 [2] Group 2: Capital Flow - The coal mining sector saw a net inflow of 617 million in main funds, while retail investors experienced a net outflow of 656 million [2] - Major stocks like China Shenhua had a net inflow of 239 million from main funds, but a significant outflow of 203 million from retail investors [3] - Shaanxi Coal and Energy also reported a net inflow of 152 million from main funds, indicating strong institutional interest despite retail selling pressure [3]

Group 1 - The coal stocks in the Hong Kong market are mostly rising, indicating a positive trend in the sector [1] - China Shenhua (01088.HK) increased by 4.13%, reaching HKD 42.38 [1] - Yanzhou Coal (01171.HK) rose by 2.79%, trading at HKD 11.43 [1] - China Coal Energy (01898.HK) saw a 2.55% increase, priced at HKD 11.28 [1] - China Qinfa (00866.HK) gained 1.56%, with a share price of HKD 3.26 [1]

Core Viewpoint - The coal sector is experiencing a rise in stock prices, driven by increased demand due to cold weather and tightening supply conditions, suggesting a favorable investment outlook for quality coal companies [1] Group 1: Stock Performance - Major coal stocks have seen significant gains, with China Shenhua up 4.13% to HKD 42.38, Yanzhou Coal up 2.79% to HKD 11.43, China Coal up 2.55% to HKD 11.28, and China Qinfa up 1.56% to HKD 3.26 [1] Group 2: Demand and Supply Dynamics - A cold wave has led to lower temperatures in central and eastern regions, contributing to increased coal demand [1] - The average daily coal output from the four ports in the Bohai Rim region reached 1.682 million tons, an increase of 142,000 tons (9.19%) from the previous week, although it represents a year-on-year decrease of 0.8% [1] - As of January 23, port inventories stood at 26.28 million tons, down 906,000 tons (3.33%) week-on-week, but up 3.48% year-on-year [1] Group 3: Future Outlook - The tightening supply-demand balance in the coal market is expected to persist over the next 3-5 years, with quality coal companies maintaining high barriers to entry, strong cash flow, and attractive dividends [1] - The recent price stabilization in coal is anticipated to reshape sector valuations, making coal investments appealing, especially after recent market corrections [1]

Group 1 - The core viewpoint of the news is that China Shenhua's stock has shown a slight increase, with a current price of 40.82 CNY per share and a market capitalization of 811.03 billion CNY, indicating a stable performance in the market [1] - As of January 26, the stock has seen a year-to-date increase of 0.79%, a 5-day increase of 0.29%, a 20-day increase of 1.72%, and a 60-day decrease of 2.95% [1] - The company primarily engages in coal and electricity production and sales, with coal accounting for 75.23% of its revenue, followed by electricity at 29.35% [1] Group 2 - As of September 30, the number of shareholders for China Shenhua reached 209,200, an increase of 29.69% from the previous period, while the average number of circulating shares per person decreased by 23.09% to 79,468 shares [2] - For the period from January to September 2025, China Shenhua reported a revenue of 213.15 billion CNY, a year-on-year decrease of 16.05%, and a net profit attributable to shareholders of 39.05 billion CNY, down 15.24% year-on-year [2] - The company has distributed a total of 480.47 billion CNY in dividends since its A-share listing, with 159.94 billion CNY distributed in the last three years [3]