永泰能源：推进资源综合开发利用 提升核心竞争力

Core Viewpoint - Yongtai Energy is advancing comprehensive resource development and utilization to enhance its core competitiveness and promote high-quality development under the dual drivers of national energy security strategy and "dual carbon" goals [1] Group 1: Coal Business Development - Yongtai Energy focuses on strengthening its coal business, with coal resources amounting to 3.821 billion tons, including 0.913 billion tons of premium coking coal and 2.908 billion tons of premium thermal coal, maintaining an annual production level above 10 million tons [2] - The Haizetang coal mine, a key project approved by the National Development and Reform Commission, is set to become a modern, safe, green, efficient, and intelligent large-scale mine, supporting the national "North Coal South Transport" strategy and regional economic development [2] - The Haizetang coal mine has a coal resource reserve of 1.145 billion tons, with an average calorific value exceeding 6,500 kcal, and is strategically located along the Haoji Railway, facilitating efficient coal transportation [2] Group 2: Haizetang Coal Mine Construction - Yongtai Energy adheres to a high-standard construction philosophy, aiming for coal production within three and a half years and full production within four years, with the Haizetang coal mine project having commenced construction in December 2022 [3] - As of now, all four shafts have been fully connected underground, and essential systems such as ventilation, drainage, and power supply have been established, with the project expected to enter the third phase of construction by Q3 2025 [3] - The first mining face is projected to commence production by the end of June 2026, with an expected output of 3 million tons in that year, and a further 10 million tons in 2027, significantly enhancing the company's overall performance and competitiveness [3] Group 3: Aluminum Resource Development - In addition to coal, Yongtai Energy is actively exploring and developing "coal-based aluminum" resources, with the Shanxi bauxite reserves being the largest in the country, primarily located in areas surrounding the company's coal mines [4] - The company has made progress in obtaining mining rights for bauxite in its eight coal mines, with an estimated recoverable bauxite resource of approximately 6.958 million tons based on a 60% extraction ratio [4] - By leveraging existing coal production systems for bauxite mining, Yongtai Energy aims to save approximately 2.1 billion yuan in investment costs, thereby reducing production costs and creating new profit growth points [4]