Group 1: Financial Performance - The company announced a profit forecast for 2025, expecting a net profit attributable to shareholders between 182 million to 259 million yuan; with adjustments for deferred tax asset disposal, the net profit could reach 504 million to 581 million yuan [1] - The estimated net profit for the fourth quarter is projected to be between 316 million to 393 million yuan, representing a year-on-year growth of 138% to 195% and a quarter-on-quarter growth of 233% to 314%, indicating signs of an operational turning point [1] Group 2: Business Developments - Significant breakthroughs in thermal power business include the commissioning of the Ulagai No. 1 1000MW ultra-supercritical coal-fired power unit in September 2025, followed by the operation of Ulagai No. 2 1000MW unit, increasing the thermal power installed capacity by 74%. Additionally, the Baiyinhu 2×660MW project has entered the installation and debugging phase, with overall progress exceeding 50%. These projects support the "Mengdian Send Su" strategy and benefit from the growth in electricity demand in Jiangsu Province, which saw a 5.2% year-on-year increase in electricity consumption from January to November 2025 [2] - The company is rapidly expanding its renewable energy business, with multiple photovoltaic and energy storage projects completed and operational. Currently, the installed capacity of renewable energy projects stands at 647.8 megawatts, with 477.5 megawatts under construction. In the first three quarters, the renewable energy generation, sales, and profits have significantly increased year-on-year, becoming a new growth point for the company [3]

Core Viewpoint - The company, Suneng Co., is committed to strengthening its position in the coal, electricity, and renewable energy sectors while focusing on growth within the Jiangsu energy market [2] Group 1 - The company aims to expand its operations in coal, electricity, and renewable energy industries [2]

2月6日消息，天眼查数据显示，江苏徐矿能源股份有限公司发布江苏徐矿能源股份有限公司钢材一批 (第二次）采购招标公告，发布时间为2026年2月6日。 ...

Group 1 - The article highlights a significant reduction in coal production quotas by the Indonesian government, which aims to boost coal prices by decreasing export volumes by 40% to 70% for major miners by 2025 [5] - Additionally, the Indonesian government plans to impose an export surcharge, which may further weaken the profitability of the coal industry [5] Group 2 - The article lists several companies involved in coal mining, coal chemical, and coal-electricity integration, including China Shenhua, Zhengzhou Coal Electricity, and Yanzhou Coal Mining [8][9]

Group 1 - The coal mining sector experienced a decline of 0.19% on February 3, with Haohua Energy leading the drop [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Key stocks in the coal mining sector showed varied performance, with Jiangte Equipment rising by 6.93% and China Shenhua falling by 1.52% [2] Group 2 - The coal mining sector saw a net outflow of 400 million yuan from major funds, while retail investors contributed a net inflow of 301 million yuan [2] - Major funds showed a mixed trend, with Shaanxi Coal and Chemical Industries receiving a net inflow of 42.73 million yuan, while Jiangte Equipment faced a net outflow of 52.98 million yuan [3] - Retail investors favored stocks like SuNeng Co., which had a net inflow of 357.83 million yuan, despite overall sector challenges [3]

现场检查报告 华泰联合证券有限责任公司 关于江苏徐矿能源股份有限公司 2025 年度现场检查报告 根据中国证券监督管理委员会（以下简称"中国证监会"）《证券发行上市 保荐业务管理办法》和《上海证券交易所上市公司自律监管指引第 11 号——持 续督导》等有关法律法规的要求，华泰联合证券有限责任公司（以下简称"华泰 联合证券"或"保荐人"）作为江苏徐矿能源股份有限公司（以下简称"苏能股 份"或"公司"）首次公开发行股票的保荐人，于 2026 年 1 月 12 日-13 日对江 苏徐矿能源股份有限公司进行了现场检查。 一、本次现场检查的基本情况 华泰联合证券针对苏能股份实际情况制订了 2025 年度现场检查工作计划。 为顺利实施本次现场工作，提高现场工作效率，切实履行持续督导工作，华泰联 合证券于 2026 年 1 月 9 日以邮件方式将现场检查事宜通知苏能股份，并要求公 司提前准备现场检查工作所需的相关文件和资料。 2026 年 1 月 12 日-13 日，华泰联合证券保荐代表人根据事先制订的现场检 查工作计划，通过与公司高级管理人员及有关人员进行沟通，查阅公司本持续督 导期间建立或修订的公司章程、股东会及董事会 ...

Group 1 - The company expects a net profit attributable to shareholders for the year 2025 to be between 182.27 million and 259.41 million yuan, representing a decrease of 1.12586 billion to 1.20300 billion yuan compared to the previous year, which is a decline of 81% to 87% [2][4] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses for 2025 is projected to be between 159.69 million and 236.82 million yuan, a decrease of 1.17893 billion to 1.25606 billion yuan year-on-year, reflecting a decline of 83% to 89% [2][4] - The profit for the previous year (2024) was reported at 1.3827 billion yuan, with a net profit attributable to shareholders of 1.38527 billion yuan [4] Group 2 - The decline in performance is primarily attributed to the decrease in coal sales prices, which has negatively impacted revenue and net profit; additionally, the tax burden increased due to changes in the tax rate for a subsidiary, and the company terminated the recognition of certain deferred tax assets, leading to an increase in consolidated tax expenses by 321.81 million yuan [6]

Group 1: Poly Development - Poly Development expects a net profit of 1.026 billion yuan for 2025, a decrease of 79.49% year-on-year [1] - The net profit excluding non-recurring gains and losses is projected to be 628 million yuan, down 85.25% year-on-year [1] - The decline in performance is attributed to a decrease in gross profit margin from real estate project transfers and an estimated asset impairment loss of approximately 6.9 billion yuan [2] Group 2: Huichuan Technology - Huichuan Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and brand image [3] Group 3: Guizhou Platinum Industry - Guizhou Platinum Industry's non-public stock issuance has been approved, aiming to raise up to 1.291 billion yuan for technology innovation and working capital [4] Group 4: Yingfang Micro - Yingfang Micro intends to acquire 100% of Shanghai Xiaokeli and First Technology China through a combination of share issuance and cash payment [5][6] Group 5: ST New Power - ST New Power received a regulatory letter from the Shenzhen Stock Exchange due to inconsistencies in the voting results of a recent shareholder meeting [7] Group 6: Zhengfan Technology - Zhengfan Technology received a warning letter from the Shanghai Securities Regulatory Bureau for irregularities in its management and investment operations [8] Group 7: Trina Solar - Trina Solar expects a net loss of 6.5 billion to 7.5 billion yuan for 2025, impacted by supply-demand imbalances and rising raw material costs [9] Group 8: China Great Wall - China Great Wall anticipates a net loss of 35 million to 70 million yuan for 2025, although it expects to significantly reduce its losses compared to the previous year [10] Group 9: Liangpin Shop - Liangpin Shop forecasts a net loss of 120 million to 160 million yuan for 2025, with losses widening due to store closures and reduced product prices [11] Group 10: Sun Energy - Sun Energy expects a net profit of 182 million to 259 million yuan for 2025, a decrease of 81% to 87% year-on-year, primarily due to falling coal prices [12] Group 11: Chengdu Huami - Chengdu Huami anticipates a net profit of 213 million to 255 million yuan for 2025, an increase of 74.35% to 108.73% year-on-year, driven by increased demand in the special integrated circuit industry [13][14] Group 12: Shui Jing Fang - Shui Jing Fang expects a net profit of 392 million yuan for 2025, a decrease of 71% year-on-year, due to a challenging environment in the liquor industry [15] Group 13: Xian Dao Ji Dian - Xian Dao Ji Dian projects a net loss of 138 million to 92 million yuan for 2025, a shift from a profit of 108 million yuan in the previous year [16] Group 14: Tian Tong Co. - Tian Tong Co. expects a net loss of 120 million to 170 million yuan for 2025 [17] Group 15: Hunan YN - Hunan YN anticipates a net profit of 1.15 billion to 1.4 billion yuan for 2025, a growth of 93.75% to 135.87% year-on-year, driven by the rapid development of the new energy vehicle market [18] Group 16: Qi Yi Er - Qi Yi Er forecasts a net loss of 350 million to 550 million yuan for 2025 [19] Group 17: Ding Long Co. - Ding Long Co. expects a net profit of 700 million to 730 million yuan for 2025, an increase of 34.44% to 40.20% year-on-year, supported by strong growth in semiconductor and display materials [20] Group 18: Wan Tong Development - Wan Tong Development anticipates a net loss of 500 million to 750 million yuan for 2025, with losses widening due to strategic shifts and impairment losses [21] Group 19: Hua Ce Testing - Hua Ce Testing expects a net profit of 1.013 billion to 1.021 billion yuan for 2025, a growth of 10% to 11% year-on-year, driven by strategic advancements and operational improvements [22] Group 20: Nanwang Energy - Nanwang Energy projects a net profit of 300 million to 360 million yuan for 2025, marking a turnaround from a loss in the previous year [24] Group 21: Fang Da Carbon - Fang Da Carbon anticipates a net profit of 60.44 million to 101 million yuan for 2025, a decrease of 45.85% to 67.51% year-on-year [25] Group 22: Datang Telecom - Datang Telecom expects a net loss of 39 million to 56 million yuan for 2025 [26] Group 23: Huajian Group - Huajian Group forecasts a net profit of 62 million to 80.6 million yuan for 2025, a decrease of 79.4% to 84.2% year-on-year, due to competitive pressures [27] Group 24: Shanghai Petrochemical - Shanghai Petrochemical expects a net loss of approximately 1.289 billion to 1.576 billion yuan for 2025, a shift from profit due to declining oil prices and reduced demand [28] Group 25: Jiangzhong Pharmaceutical - Jiangzhong Pharmaceutical has changed its name to Huaren Jiangzhong Pharmaceutical, with the stock code remaining the same [29] Group 26: Hebang Bio - Hebang Bio anticipates a net loss of 470 million to 570 million yuan for 2025 [30] Group 27: Mingtai Aluminum - Mingtai Aluminum expects a net profit of 1.95 billion to 2 billion yuan for 2025, a growth of 12% to 14% year-on-year, driven by advancements in low-carbon products [31]

本期业绩变动的主要原因：主要受煤炭销售价格下降等因素影响，营业收入、净利润同比下降;控股子 公司陕西郭家河煤业有限责任公司因所得税税率变化，税负成本上升;公司终止确认部分已计提的递延 所得税资产等因素影响，增加合并报表所得税费用32,181万元，导致净利润同比下降。 苏能股份（600925）(600925.SH)发布2025年度业绩预减公告，预计2025年度实现归属于母公司所有者 的净利润18,227万元到25,941万元，与上年同期(法定披露数据)相比，预计减少112,586万元到120,300万 元，同比减少81%到87%。 ...

Core Viewpoint - Suning Holdings (600925.SH) has announced a significant decrease in its expected net profit for the fiscal year 2025, projecting a range of 182.27 million to 259.41 million yuan, which represents a decline of 112.586 million to 120.3 million yuan compared to the previous year, equating to a year-on-year decrease of 81% to 87% [1] Group 1: Financial Performance - The expected net profit for 2025 is projected to be between 182.27 million and 259.41 million yuan [1] - This represents a decrease of 112.586 million to 120.3 million yuan compared to the previous year's legally disclosed data [1] - The year-on-year decline in net profit is estimated to be between 81% and 87% [1] Group 2: Reasons for Performance Change - The primary reason for the performance change is attributed to the decline in coal sales prices, which has negatively impacted both operating revenue and net profit [1] - The tax burden has increased due to changes in the income tax rate for the subsidiary Shaanxi Guojiahe Coal Industry Co., Ltd. [1] - The company has terminated the recognition of certain previously accrued deferred tax assets, leading to an increase in consolidated tax expenses by 32.181 million yuan, further contributing to the decline in net profit [1]