山西潞安环保能源开发股份有限公司 担保管理制度 第一章 总则 第一条 为了规范山西潞安环保能源开发股份有限公司（以下简 称"公司"）的担保行为,有效控制公司担保风险，维护股东的合法 权益，根据《中华人民共和国民法典》《中华人民共和国公司法》《中 华人民共和国证券法》和《上海证券交易所股票上市规则》《上市公 司监管指引第 8 号—上市公司资金往来、对外担保的监管要求》《上 海证券交易所上市公司自律监管指引第 1 号—规范运作》等法律法规、 规范性文件和《山西潞安环保能源开发股份有限公司章程》（以下简 称"《公司章程》"）等相关规定，结合公司实际情况，特制定本制 度。 第二条 本制度所称担保是指公司及全资、控股子公司作为担保 人，以自身信用或资产为他人债务履行提供担保的行为，具体包括但 不限于银行贷款担保、债券发行担保、融资租赁担保、其他各种形式 的信用担保以及各种非典型担保。 不得对进入重组、破产清算程序或资不抵债的子公司/参股公司 提供担保；确需担保且风险可控的，须履行董事会或股东会审议程序。 担保后向公司财务管理部备案。 第六条 公司及所属子公司提供担保时，应遵循以下原则： （一）原则上仅对具备持续经营能力 ...

第一条 为规范山西潞安环保能源开发股份有限公司（以下简称 "公司"）董事会的议事方式和决策程序，促使董事和董事会有效地 履行其职责，提高董事会规范运作和科学决策水平，根据《中华人民 共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以 下简称《证券法》）、《上市公司治理准则》和《上海证券交易所股票 上市规则》等法律法规、部门规章、其他规范性文件（以下简称"法 律法规"）和《山西潞安环保能源开发股份有限公司章程》（以下简称 "《公司章程》"），制定本规则。 第二条 董事会是公司的常设机构，是公司的经营决策和业务领 导机构，是股东会决议的执行机构。董事会下设董事会秘书处，作为 董事会和公司治理日常业务管理服务部门，保管董事会印章，由董事 会秘书领导。 山西潞安环保能源开发股份有限公司 董事会议事规则 第一章 总则 第二章 董事会会议 第一节 一般规定 第三条 按照董事会会议召开的确定性划分，董事会会议包括定 期董事会和临时董事会。 第四条 定期董事会包括： （一）年度董事会会议：会议在公司上一会计年度结束后的一百 1 二十日内召开，主要审议公司的年度报告及处理其他有关事宜。 （二）半年度董事会会议： ...

第二条 公司在确认和处理有关关联人之间关联关系与关联交 易时，应遵循并贯彻以下原则： （一）尽量避免或减少与关联人之间的关联交易； （二）确定关联交易价格时，应遵循"公平、公正、公开以及等 价有偿"的原则，并以书面协议方式予以确定； （三）对于发生的应当披露的关联交易，应切实履行信息披露的 有关规定。 （四）关联董事和关联股东回避表决的原则； （五）根据规定聘请独立财务顾问或专业评估机构发表意见和 报告的原则； （六）按照实质重于形式的原则从严界定关联人和关联交易。 第三条 公司在处理与关联人之间的关联交易时，不得损害全体 股东特别是中小股东和非关联股东的合法权益。 山西潞安环保能源开发股份有限公司 关联交易准则 第一章 总则 第一条 为了规范山西潞安环保能源开发股份有限公司（以下简 称"公司"）的关联交易，维护公司和全体股东的合法权益，依据中 国证券监督管理委员会《上市公司治理准则》《上海证券交易所股票 上市规则》《上海证券交易所上市公司自律监管指引第 5 号—交易与 关联交易》等法律法规、规范性文件和《山西潞安环保能源开发股份 有限公司章程》（以下简称"《公司章程》"）等相关规定，结合公 司实际，制定本准 ...

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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 证券代码：601699 证券简称：潞安环能 公告编号：2025-046 山西潞安环保能源开发股份有限公司 2025年第一次临时股东大会决议公告 (一)股东大会召开的时间：2025 年 9 月 16 日 (二)股东大会召开的地点：山西潞安环保能源开发股份有限公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：《关于取消监事会并废止<监事会议事规则>的议案》 审议结果：通过 表决情况： | 股东类型 | | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 票数 | | 比例（%） | 票数 | 比例 | 票数 | 比例 | | | | | | | （%） | | （%） | | A 股 ...

国浩律师(太原) 事务所 关于 山西潞安环保能源开发股份有限公司 2025年第一次临时股东会 国浩律师(太原)事务所 法律意见书 国浩律师(太原)事务所 关于山西潞安环保能源开发股份有限公司 2 法律意见书 國浩律師(太原)事務所 GRANDALL LAW FIRM (TAIYUAN) 山西省太原市万柏林区长兴路1号华润大厦 T4楼21层邮编:030021 2 1/F,TowerT4,ChinaResourcesBuilding,No.1ChangxingRoad,WanbailinDistrict,Taiyuan,Shanxi 电话/Tel:(+86)(351)7032237/38/39 传真/Fax:(+86)(351)7024340 网址/Website:www.grandall.com.cn 2025年9月 2025 年第一次临时股东会 之 法律意见书 编号:GPBA3877002 致:山西潞安环保能源开发股份有限公司 国浩律师(太原)事务所(以下简称"本所")接受山西潞安环保能源开发 股份有限公司(以下简称"潞安环能"或"公司")的委托,指派弓建峰、鲁悦 欣律师出席了潞安环能于 2025年9月16日 ...

Core Viewpoint - The article discusses the performance of the China Securities State-Owned Enterprises Dividend Index and the related ETF, highlighting the shift in investment logic from style-driven to stock-driven, with a focus on high-quality stocks in traditional high-dividend sectors [1][2]. Group 1: Market Performance - As of September 16, 2025, the China Securities State-Owned Enterprises Dividend Index (000824) decreased by 0.26% [1]. - The leading stocks included Huamao Logistics (603128) up by 2.76%, Jianfa Co. (600153) up by 2.08%, and Jinkong Coal Industry (601001) up by 1.83% [1]. - The National Enterprise Dividend ETF (159515) was adjusted to a latest price of 1.14 yuan, with an intraday turnover of 0.89% and a total transaction of 428,400 yuan [1]. Group 2: Investment Trends - The investment logic in the dividend sector is transitioning from style-driven to stock-driven, with traditional high-dividend industries like construction materials, coal, and steel seeing significant gains [2]. - The China Securities State-Owned Enterprises Dividend Index comprises 100 listed companies selected for their high cash dividend yields and stable dividends, reflecting the overall performance of high-dividend securities among state-owned enterprises [2]. - As of August 29, 2025, the top ten weighted stocks in the index accounted for 16.84% of the total index weight, with notable companies including COSCO Shipping Holdings (601919) and Jizhong Energy (000937) [2][4].

Core Viewpoint - In August, coal prices experienced an unexpected surge due to a temporary supply-demand imbalance, with thermal coal showing a significant upward trend for most of the month, while coking coal prices saw a decline towards the end of the month due to seasonal factors [1][3]. Supply and Demand - From January to August 2025, the cumulative output of raw coal reached 3.165 billion tons, a year-on-year increase of 2.8%, but the growth rate is declining. In August alone, the output was 391 million tons, down 3.2% year-on-year but up 2.5% month-on-month [2]. - Terminal demand in the first eight months of 2025 was supported by manufacturing and infrastructure, with electricity demand improving. Fixed asset investment increased by 0.5% year-on-year, with manufacturing investment up 5.1% and infrastructure investment up 2.0%, while real estate investment fell by 12.9% [2]. - In August, coal imports increased month-on-month, but the cumulative import volume from January to August 2025 was 300 million tons, down 12.2% year-on-year. The August import volume was 42.737 million tons, down 6.78% year-on-year but up 20.02% month-on-month [2]. Price Trends - Coal prices rebounded unexpectedly in August, with coking coal showing a larger increase. Despite adjustments in the average prices of Shanxi premium mixed 5500 thermal coal, Beijing-Tangshan main coking coal, and Tianjin second-grade metallurgical coke since the beginning of 2025, all three varieties saw different degrees of rebound in August [2][3]. Investment Recommendations - With the policy shift driven by anti-involution, short-term market risk appetite has increased, favoring elastic stocks. For thermal coal, the removal of long-term contract price inversion is expected to improve the production-sales ratio and inventory issues in the third quarter. Companies to watch include Huayang Co., Jinkong Coal Industry, and Shanmei International [4]. - For coking coal, the demand expectations for September and October are positive, and if there are supply disruptions, prices may rebound. Companies to focus on include Lu'an Energy and Shanxi Coking Coal [4].

Core Viewpoint - The China-US Madrid economic and trade talks have made positive progress, leading to a collective rise in A-share indices [1] Market Performance - The Shanghai Composite Index opened up 0.14% at 3865.98 points [1] - The Shenzhen Component Index opened up 0.09% [1] - The ChiNext Index opened up 0.2% [1] Sector Movements - Gold stocks opened higher, with Shanghai Construction Group hitting the daily limit, and Northern Copper and Western Gold rising over 5% [1] - The spot gold price approached $3690 per ounce, reaching a new high [1] - The photovoltaic equipment sector saw initial gains, with GCL-Poly Energy rising nearly 8% and High Measurement Technology up nearly 5% [1] - Coal stocks experienced a broad increase, with Shanxi Coking Coal and Lu'an Environmental Energy rising over 2% [1] - Film and cinema stocks declined, with Happiness Blue Sea down over 9% and Golden Screen Cinemas down over 5% [1]

Market Overview - In August 2025, the domestic retail sales (社零) totaled 3.97 trillion yuan, with a year-on-year growth of 3.4%, slightly below market expectations of 3.82% [6][5] - For the first eight months of 2025, total retail sales reached 32.39 trillion yuan, reflecting a year-on-year increase of 4.6% [6] - The consumer confidence index in July 2025 was reported at 89.0, showing a month-on-month increase of 1.1 [6] Retail Sector Insights - Online retail channels continued to outperform the overall retail market, with physical stores like convenience stores and supermarkets showing stable performance [6] - In August 2025, the year-on-year growth for cosmetics was 5.1%, while gold and silver jewelry saw a significant increase of 16.8% [6] - The sports and entertainment goods sector maintained rapid growth, with a year-on-year increase of 16.9% in August [6] Textile and Apparel Sector - The textile and apparel retail sales in August 2025 showed marginal improvement, with a cumulative year-on-year growth of 2.9% for the first eight months [7] - The sports apparel segment experienced a robust growth rate of 20.6% year-on-year for the same period [7] - Major brands like 361 Degrees reported double-digit growth, while other brands like Li Ning and Anta showed low to mid-single-digit growth [7] Coal Industry Analysis - In August 2025, coal supply showed a marginal decrease, with cumulative production of 3.165 billion tons for the first eight months, reflecting a year-on-year increase of 2.8% [10] - The demand for coal was supported by manufacturing and infrastructure investments, with fixed asset investment growing by 0.5% [10] - Coal prices experienced an unexpected rebound in August, driven by supply-demand tensions, with significant increases in both coking coal and thermal coal prices [11] Investment Recommendations - For the textile manufacturing sector, companies like Shenzhou International and Kairun Co. are recommended due to their strong performance outlook [9] - In the gold and jewelry retail sector, companies such as Laopuyin and Chaohongji are recommended, with expectations of sustained demand due to rising gold prices [9] - The coal sector suggests focusing on companies like Huayang Co. and Jinkong Coal Industry, anticipating improvements in production and sales ratios in the upcoming quarters [11]

Summary of Coal Industry Conference Call Industry Overview - The coal market is currently experiencing a situation where long-term contract prices are higher than market prices for 5,000 kcal coal, while the 4,500 kcal long-term contract price is lower than the market price, indicating structural adjustment opportunities in the market [1][3] - The coal sector is facing performance pressure in the first half of 2025, but the overall dividend yield remains above 4%, with China Shenhua at 5% and Shaanxi Coal at 4.6%, providing a safety margin for investors [1][4] - Last week, the coal sector outperformed the CSI 300 index by 1.2 percentage points, with small coal companies showing significant gains, suggesting an increase in market risk appetite [1][5] Price Trends and Market Dynamics - After a continuous decline, port coal prices have seen their first increase, supported by spot prices reaching long-term contract support levels and intervention from relevant national departments. The price of 5,500 kcal thermal coal is expected to stabilize and rebound in the short term [1][6] - Despite weakened electricity demand in the south, increased demand from industrial, metallurgical sectors, and winter storage in Northeast China, along with declining port inventories, are supporting coal prices [1][6] - It is anticipated that thermal coal prices may rise by 15-20 yuan per ton in the next two weeks due to power plant restocking and maintenance on the Daqin line, with further increases expected during the heating season in Q4 [1][7][8] Investment Value and Recommendations - The coal sector is considered to have good investment value despite performance pressures in 2025. Many companies maintain dividend yields above 4%, indicating solid support even under challenging conditions [1][4] - Investment opportunities are recommended in companies with price elasticity in thermal coal, such as Shaanxi Coal, China Coal Energy, and Yanzhou Coal Mining, as well as coking coal companies benefiting from tight supply-demand conditions [2][9] - The market is advised to focus on companies like Shaanxi Coal, China Coal Energy, Yanzhou Coal Mining, and others that show potential for growth in the current environment [2][9] Key Considerations - Future price movements will depend on factors such as overproduction checks, inventory changes at ports, and the end of high temperatures in the south [8] - The overall sentiment in the coal market is cautiously optimistic, with expectations of price recovery supported by both supply constraints and demand increases in various sectors [1][6][7]