天风证券给予中国神华买入评级，业绩呈现高稳定性，分红支付率再度提高

Group 1 - The core viewpoint of the report is that Tianfeng Securities has given China Shenhua (601088.SH, latest price: 37.93 yuan) a "buy" rating due to its stable performance and strong operational capabilities [1] - The integrated operation model of the entire industry chain shows high performance stability [1] - The coal business is operating steadily, with excellent cost control capabilities [1] - The power business is relatively stable, and the power segment may contribute to performance growth in the future [1] - The company's mid-term profit distribution plan reflects a strong emphasis on investor returns [1]