（编辑 任世碧） 证券日报网讯 12月16日晚间，保利联合发布公告称，近日，公司全资子公司保利特能工程有限公司下 属控股子公司内蒙古瀚石矿山工程有限公司（简称"内蒙古瀚石"）收到项目招标代理机构北京国电工程 招标有限公司发出的《中标通知书》，内蒙古瀚石中标（能投公司）内蒙古大唐国际锡林浩特矿业有限 公司胜利东二号露天煤矿工程2026-2030年剥离工程二标段项目，中标金额：152784.15万元。 ...

（文章来源：证券日报） 证券日报网讯 12月16日，淮北矿业在互动平台回答投资者提问时表示，截至2025年12月10日，公司股 东总户数为43401户。 ...

Investment Rating - The report maintains a "Recommended" rating for the coal mining industry [1] Core Insights - The coal mining industry is experiencing a mixed supply and demand scenario, with production and imports declining, while coal prices are on the rise due to seasonal demand and supply constraints [14][21] - The report highlights the resilience of major coal companies, emphasizing their strong cash flow and profitability, which positions them well for future growth despite market fluctuations [14] Supply Side Summary - Coal production in November 2025 was 430 million tons, a year-on-year decrease of 0.5%, but the decline was less severe than in October [20][21] - Coal imports fell by 19.87% year-on-year in November, with a total of 44.05 million tons imported, reflecting supply chain disruptions and high base effects from the previous year [9][28] - Overall coal supply in November showed a year-on-year decline of 2.3%, but the rate of decline narrowed compared to October [28] Demand Side Summary - The demand for coal is being negatively impacted by a 4.2% year-on-year decline in thermal power generation in November, contrasting with a 7.3% increase in October [10][29] - Chemical and metallurgical sectors are showing positive contributions to coal consumption, with chemical industry coal usage increasing by 8.22% year-on-year [12][41] Inventory Summary - Power plants are replenishing their coal inventories, with significant increases noted in November, while upstream coal inventories remain low [13][14] - The inventory levels for coking coal are also rising but are still considered low overall [13] Price Summary - The average price of thermal coal at northern ports rose to 822 RMB per ton in November, reflecting a month-on-month increase of 10% [13] - The report anticipates that coal prices may stabilize due to seasonal demand and supply adjustments, despite the ongoing fluctuations [14] Investment Recommendations - The report suggests focusing on robust coal companies such as China Shenhua, Shaanxi Coal and Chemical Industry, and others, which are expected to perform well in the current market environment [15][14] - It highlights the investment value of coal stocks due to their high dividends and cash flow characteristics, recommending a strategic approach to investing in the sector [14]

Core Insights - High dividend assets are showing strong cost-effectiveness, with coal prices expected to recover from their bottom range [1][4][12] Group 1: Dividend Assets - The shift in residents' wealth from real estate to securities has been noted, with the 10-year government bond yield remaining low and capital gains uncertain. If CPI/PPI rises, the cost-effectiveness of allocations may further decline. However, dividend assets maintain a dividend yield that is above the mean and one standard deviation, indicating long-term allocation value [4][12] - Economic stabilization and recovery could lead to growth in the earnings of dividend assets, potentially resulting in higher returns [4][12] Group 2: Coal Industry - The coal mining sector is experiencing rigid supply with limited growth in new capacity. Policies are being implemented to stabilize the market and curb overproduction, which supports a gradual recovery in coal prices. Steady growth in electricity demand is also contributing to this recovery [4][12] - Future attention may be directed towards non-electric coal usage, particularly focusing on leading companies in thermal coal that exhibit high dividends, profitability, and cash flow, as well as coking coal enterprises with high marketization and supply elasticity [4][12] Group 3: Dividend Yield Rankings - The top five sectors by dividend yield over the past 12 months include coal mining (5.89%), white goods (5.29%), rural commercial banks (4.84%), joint-stock banks (4.77%), and city commercial banks (4.61%) [5][13]

证券之星消息，12月16日煤炭开采板块较上一交易日下跌0.6%，大有能源领跌。当日上证指数报收于 3824.81，下跌1.11%。深证成指报收于12914.67，下跌1.51%。煤炭开采板块个股涨跌见下表： 从资金流向上来看，当日煤炭开采板块主力资金净流出3.53亿元，游资资金净流入2374.72万元，散户资 金净流入3.29亿元。煤炭开采板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 ...

Core Viewpoint - Poly United (002037.SZ) announced that its wholly-owned subsidiary, Poly Special Energy Engineering Co., Ltd., has won a bid for a significant mining project in Inner Mongolia, indicating a strong position in the mining sector and potential revenue growth from this contract [1] Group 1 - The subsidiary, Inner Mongolia Hanshi Mining Engineering Co., Ltd., received a bid notification from Beijing Guodian Engineering Bidding Co., Ltd. [1] - The project won is for the stripping engineering of the Victory East No. 2 open-pit coal mine of Inner Mongolia Datang International Xilin Hot Mining Co., Ltd. [1] - The total bid amount for the project is 1.528 billion yuan [1]

Market Overview - The Hong Kong stock market opened lower on December 16, with the Hang Seng Index down 0.32% at 25,547.92 points, the Hang Seng Tech Index down 0.56% at 5,467.76 points, and the State-Owned Enterprises Index down 0.35% at 8,886.24 points. The Red Chip Index increased by 0.11% to 4,129.18 points [1] Company News - China Shenhua (01088.HK) reported coal sales of 389.5 million tons for the first 11 months, a decrease of 7.7% year-on-year. November sales were 37 million tons, down 3.6% year-on-year [2] - China Metallurgical Group (01618.HK) signed new contracts worth RMB 958.13 billion in the first 11 months, an 8.6% decrease year-on-year, with overseas contracts amounting to RMB 75 billion, a 0.4% increase year-on-year [2] - China Eastern Airlines (00670.HK) saw a 6.51% year-on-year increase in passenger capacity in November, with passenger turnover up 10.35% and a seat occupancy rate of 87.37%, up 3.04 percentage points year-on-year [2] - China Southern Airlines (01055.HK) reported an 8.68% year-on-year increase in passenger capacity in November, with passenger turnover up 10.42% and a seat occupancy rate of 86.29%, up 1.36 percentage points year-on-year [2] - New China Life Insurance (01336.HK) reported cumulative original insurance premium income of RMB 188.85 billion for the first 11 months, a 16% year-on-year increase [3] - Hopson Development Holdings (00754.HK) reported total contract sales of approximately RMB 14.27 billion for the first 11 months, an 8.91% decrease year-on-year [4] - Kaisa Group (01813.HK) reported a pre-sale amount of RMB 511 million in November, a 21.4% decrease year-on-year [5] - Genscript Biotech (01672.HK) is expected to become a leading oral small molecule IL-17 inhibitor, with positive Phase I study results in the U.S. [5] - China Supply Chain Industry (03708.HK) signed a strategic cooperation framework agreement with Golden Energy regarding digital gold assets [6] - Times China Holdings (01233.HK) had a liquidation petition against the company withdrawn [7] - Botai Car Union (02889.HK) received a project designation notice from a leading domestic electric vehicle client [8] Institutional Insights - Dongwu Securities indicated that the Hong Kong stock market is at a rebound stage, with medium to long-term investment attractiveness. Despite some overseas risks being released, there are still potential risks ahead. The market has adjusted expectations for future interest rate cuts by the Federal Reserve, which may impact risk appetite for Hong Kong stocks [9] - Guohai Securities noted that the development of assisted driving functions is entering a new regulatory phase, with a clear path for standard implementation expected between 2025 and 2027. This will create market demand driven by policy compliance, particularly in areas like driver monitoring systems and data recording systems [9][10] - CITIC Securities highlighted that targeted radionuclide therapy (TRT) is a promising direction in targeted treatment, with significant investment and development activity in the nuclear medicine sector [10]

Group 1 - The core viewpoint emphasizes the importance of high-skilled talent in supporting high-quality development in Shaanxi Province, with a target of reaching 6.11 million skilled workers and 1.83 million high-skilled workers by the end of 2024 [1] - Shaanxi has implemented various policies to enhance the training, evaluation, and incentive mechanisms for skilled talent, focusing on aligning education with industry needs [1][5] - The province has established over 20 vocational schools in collaboration with enterprises to create integrated education and training bases, promoting a model where students are recruited directly into companies [2][3] Group 2 - The "New Eight-Level Worker" system has been introduced to provide a clearer career progression for skilled workers, adding positions such as special technician and chief technician to the existing hierarchy [7] - Shaanxi has initiated a socialized skill level evaluation system, allowing for market-driven assessments and breaking the traditional reliance on academic qualifications [8] - The province has seen a significant increase in the number of skilled talent evaluations, with around 200,000 evaluations conducted annually, including over 50,000 for advanced workers [8] Group 3 - The annual provincial vocational skills competitions have become a vital platform for talent development, with over 100 competitions held each year, engaging more than 300,000 participants [10] - Shaanxi has launched a series of measures to support the cultivation of high-skilled leading talents, including partnerships with various departments to enhance training and development opportunities [11] - The province has recognized 641 high-skilled leading talents by the end of 2024, including award winners and those receiving special government allowances [13]

Group 1 - The company held its 48th meeting of the 9th Board of Directors on December 15, 2025, where all 14 directors voted in favor of the proposals presented [1][2]. - The meeting approved the change of the accounting firm to Crowe Horwath, replacing the previous firm, Henan Shouzheng Innovation [16][17]. - The board also approved the election of a new board of directors, with candidates nominated for both non-independent and independent director positions [2][3]. Group 2 - The company plans to apply for a comprehensive credit facility of RMB 2.5 billion from China Postal Savings Bank, with a term from December 15, 2025, to April 30, 2028 [5][6]. - Additionally, the company intends to apply for a trust loan of up to RMB 500 million from CITIC Trust, with a term not exceeding one year [7]. - Both financing proposals were approved unanimously by the board [5][7]. Group 3 - The company will convene its 4th extraordinary general meeting on December 31, 2025, to discuss the approved proposals from the board meeting [36][37]. - The voting for the general meeting will be conducted through a combination of on-site and online methods [37][39]. - The meeting will include the election of directors and independent directors, utilizing a cumulative voting system [51].

证券日报网讯12月15日，神火股份（000933）在互动平台回答投资者提问时表示，截至12月10日，公司 的股东人数是6.53万户。 ...