期货日报网讯（记者 王宁）近日，新疆改革委等部门关于印发《加快推进新疆煤炭交易市场建设的实 施意见》的通知。 全文如下： 为深化能源体制机制改革，充分发挥市场在资源配置中的决定性作用，更好发挥政府引导作用，推动新 疆煤炭交易市场建设，积极融入全国统一大市场，现提出以下意见。 一、总体要求 坚持深化改革。统筹政府与市场的关系，充分运用市场化法治化手段，持续深化煤炭行业供给侧结构性 改革，创新体制机制，实现煤炭供给平稳有序，煤炭价格保持在合理区间。 坚持互利合作。统筹区域和全局，建立健全跨省区交易合作协调长效机制，深化新疆煤炭交易中心与全 国煤炭交易中心、煤炭主产区交易中心的交易标准和信息互联互通、共建共享，积极对接西北、西南 等"疆煤外运"市场，更好融入全国统一大市场。 统筹协调、稳步推进，到2027年，新疆煤炭市场数据中心初步建成，基本实现交易市场各主体数据联 网，煤炭交易平台更加规范高效，形成公平公开、功能多样、要素完善、反应及时、调控有力的新疆煤 炭交易市场机制，煤炭在线交易量明显提升。到2030年，新疆煤炭市场数据中心功能更加完善，数据联 网主体全面覆盖，新疆煤炭交易中心作用有效发挥，市场体制机制更加健 ...

近年来，我国能源产业链供应链建设稳步推进。截至2024年底，我国可再生能源发电装机容量达18.9亿 千瓦，占全国发电总装机的56%，水电、风电、太阳能发电装机规模均稳居世界第一，抽水蓄能、新型 储能装机规模快速增长，为电力系统稳定运行提供有力支撑；光伏组件产量连续16年位居全球首位。锂 电池产业全球领先。新能源汽车产销量连续10年稳居世界第一。也要清醒认识到，当前我们仍面临多重 挑战。新能源、储能等领域关键材料与核心软件仍存在技术瓶颈，部分环节对外依赖度较高，大型储 能、氢能冶炼等前沿技术的产业化水平有待提升。新能源汽车、锂电池等领域存在一定程度的同质化竞 争，行业集中度与创新效率仍有优化空间。此外，美国、欧盟等正加快布局，积极推动关键矿产、绿色 技术及碳规则等领域的国际标准制定。面对新形势新挑战，必须坚持系统思维，多维度协同发力，确保 能源产业链供应链安全。 强化能源科技创新引领，加快核心技术攻关。坚持科技自立自强，是破解能源产业链供应链安全难题的 根本之策。以面向国家能源安全重大需求为导向，系统部署能源领域重大科技专项，集中力量攻坚相关 领域前沿技术。强化企业创新主体地位，推动技术研发与超大规模市场应用深 ...

Core Viewpoint - China Shenhua Energy Co., Ltd. is planning a significant restructuring by acquiring equity stakes in 13 energy assets from its controlling shareholder, China Energy Investment Corporation, which will enhance its coal resource strategic reserves and integrated operational capabilities [1][3]. Group 1: Transaction Overview - The transaction involves the acquisition of coal mining, coal power, coal-to-oil, coal-to-gas, coal chemical, and related logistics transportation assets, covering core segments of the energy industry chain [1]. - This restructuring aims to fundamentally improve the overlap in coal resource development between the controlling shareholder and the listed company, which is crucial for China's energy system reform [1][3]. Group 2: Strategic Benefits - The restructuring will optimize the entire coal industry chain's resource allocation, enhancing operational efficiency and creating synergistic benefits across production, transportation, and conversion processes [3]. - Post-restructuring, upstream coal mining will ensure stable resource supply, while downstream coal-to-oil and chemical technology platforms will improve clean and efficient conversion levels [3]. - The logistics segment will establish a self-controlled transportation network, significantly enhancing the efficiency of the "West Coal East Transport" strategy [3]. Group 3: Regional Coordination - The establishment of a cross-regional capacity coordination mechanism will enhance China Shenhua's ability to respond to seasonal and structural supply-demand fluctuations in key energy consumption areas [4]. - During critical energy supply periods, such as summer peaks and winter heating, a unified management platform will enable efficient responses to national macro-control demands, reinforcing energy security [4].

Group 1 - The core point of the article is that China Shenhua Energy Co., Ltd. announced a significant restructuring plan to acquire 13 energy assets from its controlling shareholder, China Energy Investment Corporation, which will enhance its coal resource strategic reserves and integrated operational capabilities [2][3]. - The acquisition will cover key segments of the coal industry chain, including coal mining, coal power generation, coal-to-oil, coal-to-gas, coal chemical, and related logistics transportation systems [2][3]. - This restructuring aims to resolve business overlap issues between the controlling shareholder and the listed company in coal resource development, which is crucial for China's energy system reform and the establishment of a new coal production, supply, storage, and sales system [2][4]. Group 2 - The restructuring will optimize resource allocation across the entire coal industry chain, enhancing operational efficiency and creating synergistic benefits in production, transportation, and conversion processes [3]. - Post-restructuring, upstream coal mining entities will provide stable resource supply, while downstream coal-to-oil and chemical technology platforms will improve clean and efficient conversion levels [3][4]. - The logistics segment will establish a self-controlled transportation network, significantly improving the efficiency of the "West Coal East Transport" strategy [3][4]. Group 3 - From a strategic resource layout perspective, the coal assets involved in the restructuring will complement China Shenhua's existing coal resources geographically, enhancing the functionality of the "West Coal East Transport" corridor [4]. - The establishment of a cross-regional capacity coordination mechanism will enhance China Shenhua's ability to respond to seasonal and structural supply-demand fluctuations in key energy consumption areas [4]. - This unified management platform will enable efficient responses to national macro-control demands during critical energy supply periods, thereby strengthening energy security [4]. Group 4 - As of August 1, the closing price of China Shenhua's A-shares was 37.56 yuan per share, with a total market capitalization of 722.5 billion yuan [6].

Core Viewpoint - China Shenhua Energy Co., Ltd. is planning a significant restructuring by acquiring 13 energy assets from its controlling shareholder, China Energy Investment Corporation, which will enhance its coal resource reserves and integrated operational capabilities [3][4]. Group 1: Restructuring Details - The transaction involves the acquisition of coal mining, coal power, coal-to-oil, coal-to-gas, coal chemical, and related logistics assets, covering core segments of the energy industry [3]. - This restructuring aims to resolve business overlaps between the controlling shareholder and the listed company in coal resource development, which is crucial for China's energy system reform [3][4]. Group 2: Strategic Benefits - The restructuring will optimize resource allocation across the entire coal industry chain, enhancing operational efficiency and creating synergies in production, transportation, and conversion processes [4]. - The integration of coal resources will improve the company's ability to respond to seasonal and structural supply-demand fluctuations, particularly during critical energy supply periods [4]. Group 3: Market Position - As of August 1, the closing price of China Shenhua's A-shares was 37.56 yuan per share, with a total market capitalization of 722.5 billion yuan [5].

Core Viewpoint - China Shenhua (601088) announced a significant restructuring plan involving the acquisition of coal, coal power, and coal chemical assets from its controlling shareholder, China Energy Group, which aims to enhance its resource reserves and operational capabilities [1][2]. Group 1: Restructuring Details - The restructuring involves issuing shares and cash payments to acquire assets, which include 13 companies, notably the China Shenhua Coal-to-Oil Chemical Company, recognized for its advanced coal conversion technologies [2][3]. - The transaction is classified as a related party transaction and is not expected to result in a change of control for the company [1]. Group 2: Financial Implications - The transaction is anticipated to be one of the largest mergers in the market, potentially ranking among the top deals since the introduction of the "merger six guidelines" [4]. - China Shenhua's net profit for the first half of 2025 is projected to decline by 13.2% to 20.0% year-on-year, attributed to decreased coal sales volume and average prices [5]. Group 3: Market Position - As of August 1, 2023, China Shenhua's A-share price was 37.56 yuan, with a total market capitalization of 722.5 billion yuan [5]. - The company has a strong dividend history, with cash dividends nearing 45 billion yuan in 2024, positioning it among the top dividend-paying companies in the A-share market [5].

Core Viewpoint - China Shenhua (601088) announced a significant restructuring plan to acquire 13 energy asset equities from its controlling shareholder, China Energy Investment Corporation, which will enhance its coal resource strategic reserves and integrated operational capabilities [1][2]. Group 1: Industry Context - The restructuring aims to resolve the issue of overlapping business operations between China Shenhua and its controlling shareholder in the coal resource development sector, which is crucial for the ongoing energy system reform in China [1][2]. - The acquisition includes key coal and related industry assets, which will significantly increase China Shenhua's coal asset reserves and strengthen its market position as a leading player in the domestic coal industry [2]. Group 2: Resource Strategy - The coal assets being integrated will complement China Shenhua's existing resources geographically, enhancing the logistics capabilities for the "West Coal East Transport" initiative and further solidifying the integrated coal supply chain [3]. - A cross-regional capacity coordination mechanism will be established to better respond to seasonal and structural supply-demand fluctuations in key energy consumption areas, ensuring energy security during critical periods [3]. Group 3: Operational Efficiency - The restructuring will optimize resource allocation across the entire coal industry chain, improving operational efficiency and creating synergies in production, transportation, and conversion processes [4]. - Post-restructuring, the upstream coal mining entities will provide stable resource supply, while downstream coal-to-oil and chemical technology platforms will enhance clean and efficient conversion, thereby increasing cash flow and returns for investors [4].