齐鲁晚报·齐鲁壹点 王保珠 通讯员 王磊荣 今年以来，山东能源鲁西矿业单县能源紧紧围绕年度工作任务要求，加大对物资的全流程管控力度，强 化职能部室的作用发挥，切实提升物资精益化管理水平，在物资保障领域持续优化管理、提升服务效 能，有力支撑公司可持续、高质量发展。 需求导向，把好物资"计划关" 单县能源着力强化需求源头管控，推动物资管理由被动领料向主动服务转变。该公司结合生产经营实际 现状，修订完善物资管理办法，加强内部管控，坚持"谁使用、谁管理、谁负责"的原则，强化专业部室 对材料使用的动态跟踪与管控。对重点材料实行全生命周期跟踪管理，结合生产现场变化及时修订用料 标准，杜绝超耗浪费。建立跨部门常态化需求对接机制，深入现场了解设备运行状况和检修计划，精准 掌握物资消耗规律和需求动态。严格执行采购计划审批流程，对每一项物资的需求必要性、规格型号、 数量和时间进行细致审核，从源头上避免物资积压和短缺，确保采购计划与生产实际需求紧密衔接，为 实现精准采购和库存优化奠定坚实基础。 成本管控，算好降本"精细账" 单县能源超前系统做好2026年度各专业、区队的材料费用预算分解工作，根据月度作业计划核定各专 业、区队定额材 ...

Core Viewpoint - Zhengzhou Coal Electricity (600121.SH) has not yet applied mining robots in coal mining operations, although it has implemented artificial intelligence in smart mining applications [1] Group 1: Company Developments - The company has integrated artificial intelligence into coal mining, focusing on smart working faces, AI monitoring systems, and intelligent equipment inspections [1] - Currently, there is no deployment of coal mining robots within the company's operations [1]

证券之星消息，12月12日煤炭开采板块较上一交易日下跌0.3%，苏能股份领跌。当日上证指数报收于 3889.35，上涨0.41%。深证成指报收于13258.33，上涨0.84%。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2.62亿元，游资资金净流出4.12亿元，散户资金 净流入6.74亿元。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。 ...

人民财讯12月12日电，郑州煤电（600121）12月12日在互动平台表示，郑州煤电已将人工智能应用于煤 矿智能开采，主要体现在智能工作面、AI监控系统和设备智能巡检等方面。目前公司暂未应用煤矿开 采机器人。 ...

每经头条（nbdtoutiao）——专访管涛：美国政府经济贸易政策正逐渐动摇美元本位国际货币体系，利 多因素下人民币汇率有可能破7 （记者 张明双） 2025年1至6月份，山西焦煤的营业收入构成为：工业占比100.0%。 截至发稿，山西焦煤市值为368亿元。 每经AI快讯，山西焦煤（SZ 000983，收盘价：6.48元）12月11日晚间发布公告称，公司第九届第十六 次董事会会议于2025年12月11日会议以通讯方式召开。会议审议了《关于2026年度日常关联交易预计的 议案》等文件。 ...

Group 1: Supply Constraints and Production Stability - The total coal supply level is expected to remain relatively stable or show slight fluctuations in 2026, with a focus on monitoring overproduction and safety regulations [3][4] - Domestic raw coal production increased by 1.5% year-on-year to 3.97 billion tons from January to October 2025, with a notable decline in imports by 11% during the same period [4][17] - The coal supply growth has entered a low-growth phase, with the overall supply growth rate only 0.8% year-on-year, significantly lower than the 3.3% growth in 2024 [17][19] Group 2: Demand Resilience and Consumption Growth - Coal consumption continues to grow, with total commodity coal consumption reaching 3.57 billion tons, a 0.5% increase year-on-year, while thermal coal consumption remained stable [6][7] - The electricity sector remains the core demand driver, accounting for 63.5% of thermal coal consumption, with significant support from AI and high-end manufacturing sectors [6][7] - Non-electric demand is also growing, particularly in the chemical sector, which saw a 17.4% increase in coal consumption [7][8] Group 3: Price Trends and Market Dynamics - Coal prices exhibited a "V-shaped" trend in 2025, with the average price for 5500 kcal thermal coal at Qinhuangdao port dropping by 19% year-on-year to 690 yuan/ton [8][9] - The price center is expected to stabilize within a reasonable range due to policy guidance and cost support, with projected prices for 2026 around 730-760 yuan/ton for thermal coal [9][10] - The coal sector's valuation remains at a relatively low level, with potential for upward movement as the Producer Price Index (PPI) turns positive [9][10] Group 4: Investment Opportunities and Strategic Recommendations - The coal sector is viewed as having medium to long-term investment opportunities, particularly for high-quality coal assets that offer stable returns and long-term appreciation potential [9][10] - Key companies to focus on include China Shenhua, Shaanxi Coal, and Zhongmei Energy, which are characterized by stable operations and robust performance [9][10] - The report emphasizes the importance of considering long-term trends in energy transition and policy adjustments when evaluating coal investments [9][10]

从资金流向上来看，当日煤炭开采板块主力资金净流出3.65亿元，游资资金净流入6139.37万元，散户资 金净流入3.04亿元。煤炭开采板块个股资金流向见下表： 证券之星消息，12月11日煤炭开采板块较上一交易日下跌0.35%，新大洲A领跌。当日上证指数报收于 3873.32，下跌0.7%。深证成指报收于13147.39，下跌1.27%。煤炭开采板块个股涨跌见下表： 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 - Shanxi Coking Coal Energy Group Co., Ltd. is experiencing a decline in stock price and trading volume, indicating potential challenges in the market [1][4]. Company Overview - Shanxi Coking Coal's main business includes coal production, washing, processing, sales, and power generation, along with mining development and equipment production [2][7]. - The company is a state-owned enterprise controlled by the Shanxi Provincial Government's State-owned Assets Supervision and Administration Commission [3]. Financial Performance - For the period from January to September 2025, Shanxi Coking Coal reported revenue of 27.175 billion yuan, a year-on-year decrease of 17.88%, and a net profit attributable to shareholders of 1.434 billion yuan, down 49.62% year-on-year [7]. - The company's revenue composition includes 57.58% from coal, 23.18% from coke and tar, 17.42% from electricity and heat, and 1.67% from other sources [7]. Market Activity - On December 11, the stock price of Shanxi Coking Coal fell by 1.22%, with a trading volume of 160 million yuan and a turnover rate of 0.53%, leading to a total market capitalization of 36.788 billion yuan [1]. - The stock has seen a net outflow of 26.818 million yuan from major investors, indicating a lack of clear trend in investor sentiment [4][5]. Institutional Holdings - As of September 30, 2025, major shareholders include the Guotai Zhongzheng Coal ETF, which increased its holdings by 6.848 million shares, while other ETFs reduced their holdings [9]. Technological Developments - Shanxi Coking Coal has signed a framework agreement with three technology companies to develop intelligent robots for mining operations, aiming to enhance automation and efficiency in coal mining [3].

Inflation Data Summary - November CPI year-on-year increased by 0.7%, matching expectations, and up from 0.2% in the previous month[1] - Core CPI, excluding food and energy, remained at 1.2% year-on-year, with a month-on-month decrease of 0.1%[1] - PPI year-on-year decreased by 2.2%, slightly worse than the expected -2.0%, and unchanged from the previous month[1] Key Drivers of CPI Changes - Food prices rose by 0.5% month-on-month, significantly above the seasonal average of -0.5%, primarily driven by a 7.2% increase in fresh vegetable prices due to supply shocks[2] - Non-food items showed resilience, with clothing prices up 0.7% and medical services prices increasing by 0.3% for eight consecutive months[2] - Service prices fell by 0.4% month-on-month, negatively impacting core CPI, particularly due to a 5.7% drop in tourism-related prices[2] PPI Insights - PPI has shown a month-on-month increase of 0.1% for two consecutive months, indicating stabilization in industrial product prices[3] - The mining sector saw a significant month-on-month increase of 1.7%, while the raw materials sector experienced a decline of 0.2%[3] - Manufacturing prices in high-weight sectors like photovoltaic equipment and lithium-ion batteries showed reduced year-on-year declines, supporting PPI stability[4] Future Outlook - December inflation readings are expected to remain stable, with CPI likely holding at 0.7% year-on-year if month-on-month changes align with seasonal trends[7] - PPI year-on-year may narrow to -2.0% if the recovery trend continues[7] - The necessity for monetary policy adjustments may increase due to inflation trends and PMI remaining below the growth threshold[7]

Group 1: Consumer Price Index (CPI) Insights - In November, the national Consumer Price Index (CPI) showed a slight month-on-month decrease of 0.1% but a year-on-year increase of 0.7%, marking the highest growth since March 2024, with an increase of 0.5 percentage points from the previous month [1] - The increase in CPI year-on-year was primarily driven by a turnaround in food prices, which shifted from a decrease of 2.9% in the previous month to an increase of 0.2% [2] - Core CPI, excluding food and energy prices, rose by 1.2% year-on-year, maintaining a growth rate above 1% for three consecutive months, indicating effective domestic demand expansion policies [2] Group 2: Producer Price Index (PPI) Insights - The Producer Price Index (PPI) increased by 0.1% month-on-month in November, marking the second consecutive month of growth [3] - The rise in PPI was attributed to seasonal increases in demand across certain domestic industries, particularly in coal and gas, with coal mining prices rising by 4.1% and gas production prices by 0.7% [3] - Year-on-year, the PPI decreased by 2.2%, with the decline slightly widening by 0.1 percentage points compared to the previous month, largely due to high comparison bases from the previous year [3] Group 3: Sector-Specific Price Changes - The rapid development of emerging industries has led to price increases in related sectors, with prices for external storage devices and components rising by 13.9% year-on-year [4] - Consumer demand has been effectively released, contributing to price recoveries in relevant industries, such as a 1.1% increase in the price of nutritional food manufacturing [4] - The prices of household appliances, including washing machines and air conditioners, saw a narrowing of year-on-year declines, indicating a positive trend in consumer goods pricing [4]