证券代码：900948 证券简称：伊泰B股 公告编号：临2026-011 内蒙古伊泰煤炭股份有限公司 关于公司2026年1月 对外提供担保的进展公告 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： ● 被担保人名称及是否为上市公司关联人：被担保人为内蒙古伊泰煤制油有限责任公司、内蒙古伊泰化 工有限责任公司、伊泰伊犁矿业有限公司、伊泰伊犁能源有限公司，均不是公司关联人。 ● 1月实际发生担保105,070.05万元，无反担保。 ● 对外担保逾期的累计数量：截至本公告日，无逾期对外担保。 被担保人基本情况详见《内蒙古伊泰煤炭股份有限公司2025年度为控股子公司提供担保预计的公告》 （临2025-019）及《内蒙古伊泰煤炭股份有限公司关于2025年度为部分全资子公司、控股子公司商业承 兑汇票融资业务提供担保预计的公告》（临2025-020）。 被担保人截至2024年12月31日的财务数据如下： ● 特别风险提示：公司实际发生的对外担保均为合并报表范围内企业，风险可控。 一、公司对外担保预计审批情况 内蒙古伊泰煤炭股份 ...

Group 1: Market Performance - The Hong Kong stock market has seen a cumulative increase of 5,969 points over the past eight months, but started September with mixed performance, with the Hang Seng Index down by 17 points or 0.1%, closing at 27,953 points and a trading volume of HKD 1,005.67 million [1] - Macau's gaming revenue for August rose by 20.4% year-on-year, aligning with market expectations, leading to a surge in gaming stocks, particularly Galaxy Entertainment, which reached a nearly 33-month high with a 3.9% increase, closing at HKD 51 [1] Group 2: Company Performance - China Tuhu (02399.HK) reported a 19.8% increase in net profit to RMB 73.8 million for the six months ending June, despite a 4.9% decrease in revenue to RMB 600 million and a similar decline in gross profit [2] - The company's EBITDA, net profit margin, and return on equity improved by 4.1 percentage points, 2.5 percentage points, and 0.7 percentage points to 22.5%, 12.3%, and 9.8% respectively [2] - Tuhu's trade receivables turnover days decreased by 34 days to 108 days, and the debt-to-asset ratio significantly narrowed by 12.5 percentage points to 32.2%, indicating ongoing improvement in overall metrics [2] Group 3: Acquisition and Future Prospects - Tuhu acquired 100% of Chameleon Ventures Limited for RMB 340 million, which operates over 40 retail stores in Beijing, with past profits of RMB 16.34 million and RMB 18.59 million over the last two years [3] - The seller provided a profit guarantee, ensuring that Tuhu's profit will not be less than RMB 26 million this year, with compensation for any shortfall [3] - Tuhu plans to leverage the new acquisition to enhance sales and continue optimizing underperforming stores, with a potential price target of around RMB 7.7, indicating a possible upside of approximately 30% [3]

Core Viewpoint - Shandong Energy Luwest Mining is committed to high-quality development, focusing on the construction of "four types of mines" (safe, green, intelligent, and efficient) and optimizing production capacity through various strategic initiatives [1] Group 1: Production Optimization - The company has implemented a systematic approach to optimize production layout and ensure continuity, resulting in a reduction of over 6,430 meters in tunneling and an increase of approximately 2.19 million tons in recoverable reserves [3] - Specific measures include compressing production cycles and optimizing mining designs, achieving significant progress in tunneling efficiency with monthly advancements of 338 meters and 166 meters in different projects [3][6] Group 2: Technological Innovation - The company emphasizes the importance of design and optimization in production, implementing a three-tier technical management responsibility system to enhance efficiency and mitigate risks [7] - A new drilling technology has been developed that autonomously adjusts to stress changes, significantly improving operational efficiency [12] Group 3: Green and Efficient Mining - Luwest Mining is advancing green mining practices by implementing a new filling system and focusing on the development of core technologies for filling mining, which enhances resource utilization and production efficiency [6] - The company has established a comprehensive geological control model to ensure safe and efficient mining operations, adapting support systems to specific geological conditions [9] Group 4: Quality Control in Coal Washing - The company is enhancing coal washing processes to maximize resource value and improve product competitiveness, focusing on precise control of washing parameters and investing in system upgrades [13][15] - Innovations in intelligent washing systems have led to improvements in coal recovery rates and reductions in moisture content, contributing to overall efficiency [15]

山东能源鲁西矿业古城煤矿始终将安全生产作为政治红线和生存底线，紧扣"严真细实快"作风和"四个 抓落实"要求，从凝聚思想共识、消除风险隐患、确保有序生产三个维度精准发力，推动安全责任再压 实、管理措施再强化、奋进劲头再提升，坚决守护矿井平稳运行和职工切身利益。 凝聚思想共识，筑牢"思想堤坝" 思想是行动的先导，安全意识的深度决定安全工作的力度。针对年末岁初工作头绪多、人员思想易波动 的实际，古城煤矿把安全思想教育、形势任务教育摆在首要位置，多维度、全覆盖凝聚共识，让"安全 第一"理念深植人心。 "每周一案"学习问答 该矿聚焦关键岗位人员、管理人员和专业技术人员三大群体，精准开展靶向宣教，通过组织"安全生产 大家谈""典型案例复盘会""'每周一案'学习问答"等活动，深入剖析违章操作及管理失职引发的风险隐患 相关案例，用"身边事"警醒"身边人"，引导职工从思想深处算好"生命健康账、家庭幸福账、经济损失 账、事业前途账"。同步开展"作风整顿专项宣讲"，强调"严格管理、专业管理、服从管理"的必要性， 推动各级人员摒弃不良作风，树立"守土有责、守土尽责"的责任意识。 该矿充分发挥党员、安监员、青年安全生产示范岗员的先锋模 ...

Group 1 - The company is actively promoting the construction and operation of coal, electricity, and chemical projects, and is raising project construction funds in phases [2] - The company employs multiple strategies to secure project funding, primarily relying on traditional credit, supplemented by capital market financing, and attracting strategic investors [2] - The company has established good cooperative relationships with commercial banks, especially local banking institutions, ensuring smooth financing channels [2] Group 2 - The credit policies of national policy banks and commercial banks are relatively loose, with lower interest costs [2] - Ongoing project completions are providing the company with a certain level of financial support [2]

Core Viewpoint - Indonesia's significant reduction in coal production quotas is expected to accelerate the global coal price increase cycle [1] Group 1: Indonesia's Coal Production Quotas - Indonesian government has implemented a substantial reduction plan for coal production quotas, leading to a suspension of spot coal exports by local miners [1] - The production quota for major miners was reduced by 40% to 70% compared to the 2025 levels, as part of a strategy to boost coal prices [1] - The expected coal production for Indonesia in 2025 is 790 million tons, a 5% year-on-year decrease from the earlier quota of 917 million tons [1] - A further reduction in production quotas to 600 million tons is anticipated for 2026, representing a 24% year-on-year decline [1] Group 2: Impact on China and Global Coal Prices - Indonesia is expected to export 211 million tons of coal to China in 2025, accounting for 41% of its total exports, which will directly lead to a decrease in China's import volumes [1] - China's coal imports are projected to continue declining, with an estimated total of around 450 million tons in 2026, a decrease of approximately 40 million tons [1] - The overall price of coal is expected to end a four-year decline cycle and begin to rise again in 2026, supported by stable domestic supply and slightly reduced overseas imports [1] Group 3: Market Dynamics and Future Outlook - The coal sector is believed to have reached a cyclical bottom in Q2 2025, with a reversal in supply-demand dynamics now evident [1] - The coal and downstream thermal power demand are expected to enter a new upward cycle starting in 2026, indicating a positive outlook for the sector [1]

Core Viewpoint - Gansu Energy Chemical (000552) primarily sells coal at the pit head, with thermal power companies being the largest customers for thermal coal sales through long-term contracts [1] Group 1: Market Conditions - The coal market is expected to show a relaxed trend in 2025, with insufficient downstream demand leading to a downward trend in coal prices [1] - Both coal sales volume and prices are projected to decline, increasing operational pressure on the company [1] Group 2: Strategic Adjustments - In 2026, the company plans to stabilize its market position while enhancing communication with railway operators and actively developing new surrounding markets [1] - The company aims to adjust its coal sales structure based on market demand and increase sales efforts [1]

Group 1 - The company, Gansu Energy Chemical, stated that it sells coal from its power plants and chemical plants based on market principles, signing long-term contracts annually to regulate overall coal sales and inventory structure [2] - The internal coal consumption of the company's power and chemical projects, once operational, will be nearly 12 million tons per year, with actual consumption varying based on the quality of coal received and the structure of coal sources for consuming enterprises [2]

Group 1 - The company Gansu Energy Chemical primarily produces coking coal and thermal coal, with its subsidiaries offering high-quality environmentally friendly low-ash, low-sulfur, and high-calorific value coking coal [2] - The Jingtai Coal Industry focuses on a mix of coking coal and gas coal, while the Tianzhu Coal Industry mainly produces gas coal, with some high-calorific value clean coal and silicon coal used as a reducing agent in industrial silicon production [2] - The remaining mines mainly produce thermal coal, characterized by non-caking coal with some weak caking and long flame coal, which has low sulfur, low ash, low phosphorus, and high calorific value, making it suitable for various industries including power, chemical, metallurgy, and building materials [2]

Core Viewpoint - Gansu Energy and Chemical has 11 pairs of coal production mines with an approved annual capacity of 23.14 million tons, indicating a significant operational scale in the coal industry [2]. Group 1: Company Operations - The company currently has an approved annual production capacity of 23.14 million tons, which includes a reserve capacity of 1.8 million tons per year [2]. - The Tianbao Hongshaliang mine is under construction, while the Jingtai Baiyanzi mine and the Hongshaliang open-pit mine have completed acceptance and are now in formal production [2].