2025 年 11 月，本公司航運貨運量及周轉量同比下降的主要原因，是業務結構調 整、航線結構變化。 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。 (在中華人民共和國註冊成立的股份有限公司) (股份代碼: 01088) 2025 年 11 月份主要運營數據公告 (海外監管公告) 中國神華能源股份有限公司（「本公司」）董事會及全體董事保證本公告內容不 存在任何虛假記載、誤導性陳述或者重大遺漏，並對其內容的真實性、準確性和完整 性承擔法律責任。 | | | 2025 | 年 | 2024 | 年 | 同比变化 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 運營指標 | 單位 | | | (重述後) | | (%) | | | | | 11 月 | 累計 | 11 月 | 累計 | 11 月 | 累計 | | （一）煤炭 | | | | | | | | | 商品煤產量 1. | 百萬噸 | ...

Group 1 - China Shenhua conducted a block trade on December 11, with a transaction volume of 70,000 shares and a transaction amount of 2.8217 million yuan, at a price of 40.31 yuan per share [1][2] - The closing price of China Shenhua on the same day was 40.31 yuan, reflecting a 0.32% increase, with a turnover rate of 0.11% and a total trading volume of 698 million yuan, alongside a net inflow of main funds amounting to 9.3943 million yuan [1][2] - Over the past five days, the stock has seen a cumulative decline of 3.45%, with a total net outflow of funds reaching 143 million yuan [1][2] Group 2 - The latest margin financing balance for China Shenhua is 596 million yuan, which has increased by 38.5146 million yuan over the past five days, representing a growth rate of 6.91% [2] - One institution has rated the stock in the past five days, with the highest target price set at 48.96 yuan by Western Securities on December 8 [2] - China Shenhua Energy Co., Ltd. was established on November 8, 2004, with a registered capital of 19,868.51995 million yuan [2]

Group 1 - The National Energy Group has announced the public bidding for the environmental impact assessment and marine verification services for the Guoneng Jieyang Phase I 2×1000MW coal power multi-energy complementary demonstration project located in Jieyang, Guangdong Province [1][26][27] - The project involves comprehensive environmental impact assessments including ecological, air, water, noise, solid waste, and social impact evaluations, among others, to be submitted to the Guangdong Provincial Department of Ecology and Environment for approval [2][28][32] - The project is expected to have a service period of 360 days from the date of contract signing [4][30] Group 2 - The project site is located in the Dannan Sea Petrochemical Industrial Zone, approximately 2 km from the public terminal and 71.5 km from Jieyang International Airport [3][29][31] - The bidding process requires compliance with national laws and regulations, and the winning bidder must ensure that all reports pass government approval, or they will be liable for any losses incurred by the bidder [8][34] - The project consists of a single bidding section, and bidders must be independent legal entities with relevant qualifications and experience in environmental impact assessments and marine verification services [35][36][48]

Group 1 - The core transaction details indicate that China Shenhua traded 70,000 shares on December 11, with a total transaction value of 2.8217 million yuan, representing 0.4% of the total trading volume for that day [1][2] - The transaction price was 40.31 yuan, which remained stable compared to the market closing price of 40.31 yuan [1][2]

Core Viewpoint - China Shenhua Energy Co., Ltd. is progressing with a transaction involving the issuance of A-shares and cash payment to acquire assets from its controlling shareholder, which includes coal, coal power, and coal chemical assets, while also raising supporting funds [1] Group 1: Stock Performance - As of December 8, 2025, China Shenhua's stock closed at 40.9 yuan, down 1.52% from the previous trading day [1] - The stock opened at 41.49 yuan, reached a high of 41.49 yuan, and a low of 40.58 yuan, with a trading volume of 9.7 billion yuan and a turnover rate of 0.14% [1] Group 2: Transaction Details - The company plans to issue A-shares and pay cash to acquire assets held by its controlling shareholder, China Energy Investment Corporation, which includes coal, coal power, and coal chemical assets [1] - This transaction is classified as a related party transaction and is not expected to constitute a major asset restructuring, nor will it lead to a change in the company's actual controller [1] - The stock was suspended from trading from August 4, 2025, and resumed on August 18, 2025 [1] - As of the announcement date, due diligence, auditing, and evaluation work by intermediary institutions are underway [1] - The transaction requires further approval from the board of directors, the shareholders' meeting, the Shanghai Stock Exchange, and registration with the China Securities Regulatory Commission [1]

证券代码：601088 证券简称：中国神华 公告编号：临 2025-071 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 2025 年 9 月 13 日，公司在上海证券交易所网站披露了《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》（临 2025-056）。2025 年 10 月 11 日，公司在上海证券交易所网站披露了 《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》（临 2025-059）。2025 年 11 月 8 日，公司在上海 证券交易所网站披露了《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》（临 2025-067）。 截至本公告披露日，本次交易的中介机构已进场开展尽职调查工作，本次交 易相关的审计、评估等工作正在有序推进中。公司将根据本次交易的进展情况， 按照相关法律法规的规定履行后续审议程序与信息披露义务。 三、相关风险提示 本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 ...

中国神华公告称，公司拟发行A股股份及支付现金购买控股股东国家能源相关资产，并募集配套资金， 构成关联交易，预计不构成重大资产重组。公司A股股票曾于2025年8月停牌，8月15日召开会议审议通 过交易方案，后复牌。截至公告披露日，中介机构已进场尽职调查，审计、评估等工作有序推进。本次 交易尚需多项条件达成，最终获批及时间存在不确定性。 ...

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。 ( 在中華人民共和國註冊成立的股份有限公司 ) (股份代碼:01088) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而 做出。 茲載列中國神華能源股份有限公司於 2025 年 12 月 9 日在上海證券交 易所網站(www.sse.com.cn)刊登的「關於發行股份及支付現金購買資 產並募集配套資金暨關聯交易事項的進展公告」文件，僅供參閱。 承董事會命 中國神華能源股份有限公司 總會計師、董事會秘書 宋靜剛 北京，2025 年 12 月 8 日 於本公告日期，董事會成員包括執行董事張長岩先生，非執行董事康 鳳偉先生及李新華先生，獨立非執行董事袁國強博士、陳漢文博士及 王虹先生，職工董事焦蕾女士。 1 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 本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 ...

西部证券研报指出，市场认为煤炭行业已开始呈现过剩的格局，供需宽松下煤价可能出现较明显下滑； 且认为中国神华历史分红率较低，未来分红难有提升。但是该行认为在供需基本平衡格局下，预计 2025-2027年现货采购价格中枢依旧维持700-800元/吨的位置，公司业绩稳健，未来继续保持高分红概率 较大。考虑DDM估值方法，给予公司目标价48.96元/股。首次覆盖，给予"增持"评级。 ...

公司深度研究 | 中国神华 煤炭龙头，能源航母 中国神华（601088.SH）首次覆盖报告 【核心结论】基于模型分析，我们预计公司 2025-2027 年归母净利润分别为 543.88 亿、558.78 亿、575.04 亿，EPS 分别为 2.74、2.81、2.89 元，同 比增长-7.30%、2.74%、2.91%。考虑 DDM 估值方法，给予公司目标价 48.96 元/股。首次覆盖，给予"增持"评级。 主要逻辑一：供需基本平衡，煤价中枢较为稳定。我们预计 2025-2027 年在 电煤长协充分保障的前提下，现货采购价格中枢依旧维持 700-800 元/吨的 位置，最高价格仍旧存在创新高的可能。 主要逻辑二：公司资源丰富，产销量居全国前列。公司拥有煤炭储量 343.6 亿吨、可开采储量 150.9 亿吨，可开采年限近 50 年，公司煤炭主业规模居 于全国前列。 主要逻辑三：利润稳定、业绩稳健，长期保持高分红。中国神华自上市以来 累计现金分红 20 次，平均分红率高达 61.89%，2024 年公告净利润分红率 超过 75%，未来继续保持高分红概率较大。 风险提示：经济增长不及预期，产能投放超预期，进口超 ...