山西焦煤能源集团股份有限公司 证券代码：000983 证券简称：山西焦煤 公告编号：2024-053 第九届监事会第六次会议决议公告 三、备查文件 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、监事会会议召开情况 山西焦煤能源集团股份有限公司（以下简称"公司"）第九届监事会 第六次会议以通讯方式于2024年12月30日召开。公司已于2024年12月19日 以传真、邮件及专人送达的方式通知了全体监事。本次会议应到监事7人， 实到监事7人。会议由监事会主席苏新强先生主持。会议的召开和表决程 序符合《公司法》和《公司章程》的规定。 二、监事会会议审议情况 会议以7票同意，0票反对，0票弃权的表决结果通过了《关于部分募 投项目延期的议案》。（详见公告2024-054） 公司第九届监事会第六次会议决议。 特此公告。 山西焦煤能源集团股份有限公司监事会 2024 年 12 月 30 日 1 ...

Group 1 - The core viewpoint is that Xishan Thermal Power is facing continuous losses due to small installed capacity and high energy consumption in its power generation process, leading to a decision to shut down its power generation units by 2025 [1] - Shanxi Coking Coal announced that the new heating capacity in Taiyuan City can replace the heating load of Xishan Thermal Power, facilitating the elimination of backward coal power capacity as per the provincial energy bureau's plan [2] - The shutdown of Xishan Thermal Power's units is expected to help the company optimize its industrial structure and improve overall profitability [3]

中国煤炭工业协会近日公布的数据显示,1至10月,产量排名前10位的煤炭企业原煤产量达19.6亿吨,山西焦 煤以14804万吨的产量排在第六位。 山西焦煤加速升级产业体系,煤炭主业坚持精采细采、精选细选、绿色开采,推广使用"110"工法和小煤柱 开采技术,强化资源回收。 同时,加快推进煤矿智能化建设,累计建成8座智能化煤矿,通过省级验收评定7座,其中4座矿井评定为中 级。 下半年以来,山西焦煤坚持优化和强化煤炭主业的发展策略,加速煤炭先进产能的兼并重组,提升在炼焦煤 产业的集中度、市场话语权、行业影响力和核心竞争力。 (何宝国) ...

证券代码：000983 证券简称：山西焦煤 公告编号：2024-048 山西焦煤能源集团股份有限公司 关于公司高级管理人员亲属短线交易及致歉的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 山西焦煤能源集团股份有限公司(以下简称"公司")于 近日获悉公司副总经理刘晓晖先生的配偶武秀芝女士于 2024 年 10 月 14 日至 10 月 21 日期间通过集中竞价方式买卖 公司股票，根据《中华人民共和国证券法》(以下简称《证 券法》)等相关法律法规的规定，上述交易构成短线交易。 现将有关情况公告如下: 一、本次短线交易情况 | | | 交易时间 | | | | 交易方向 | 交易数量 （股） | 交易均价 （元/股） | 成交金额 （元） | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2024 | 年 | 10 | 月 | 14 | 日 | 买入 | 800 | 8.7575 | 7,006 | | 2024 | 年 | 10 | 月 | 15 | 日 | 买入 | 2,0 ...

北 京 市 东城 区 北三环东路 36 号 环 球 贸易 中 心 B 座 11 层 电话（Tel）： 52213236/7 邮编（P.C）： 100013 关于山西焦煤能源集团股份有限公司 2024 年第一次临时股东大会之 法律意见书 君致法字 2024543 号 北京市君致 律 师 事 务 所 北京市东城区北三环东路 36 号环球贸易中心 B 座 11 层 邮编(100013) Add: 11/F, Tower B, Global Trade Center, No.36 North Third Ring Road East, Dongcheng District, Beijing, 100013, PRC Tel: 010-52213236/7 www.junzhilawyer.com 1 / 6 法律意见书 北京市君致律师事务所 关于山西焦煤能源集团股份有限公司 2024年第一次临时股东大会之法律意见书 为出具本法律意见书，本所律师审查了公司《关于召开2024年第一次临时股东大 会的通知》以及本所律师认为必要的其他文件和资料。为此公司承诺，其向本所提交 的出具本法律意见书所必需的文件材料或口头证言，是真实 ...

证券代码：000983 证券简称：山西焦煤 公告编号：2024-047 山西焦煤能源集团股份有限公司 2024 年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 特别提示： 1.本次股东大会没有出现否决议案的情形。 2.本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开情况 1、会议通知情况：公司董事会于 2024 年 10月 24日在《中国证 券报》《证券时报》《上海证券报》《证券日报》和巨潮资讯网 （www.cninfo.com.cn）发布《关于召开 2024 年第一次临时股东大会 的通知》（详见公告 2024-043）。 2、召开时间： （1）现场会议时间：2024 年 11 月 11 日（星期一）上午 10:00 开始。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投 票的具体时间为 2024年 11月 11日 9:15至 9:25,9:30至 11:30,13:00至 15:00；通过深圳证券交易所互联网投票的具体时间为 2024 年 11 月 11 日上午 9:15 至 2024 年 11 月 1 ...

Investment Rating - The investment rating for Shanxi Coking Coal (000983.SZ) is "Buy" (maintained) [1]. Core Views - The report indicates that the company's performance has been negatively impacted by a decline in coal prices due to production and sales disruptions. However, the acquisition of exploration rights has enhanced the company's resource base, which is expected to support sustainable development [1][2]. Financial Performance Summary - **Revenue Forecasts**: - 2022A: 65,183 million - 2023A: 55,523 million (down 15% YoY) - 2024E: 45,249 million (down 19% YoY) - 2025E: 49,530 million (up 9% YoY) - 2026E: 51,849 million (up 5% YoY) [1][2] - **Net Profit Forecasts**: - 2022A: 10,722 million - 2023A: 6,771 million (down 37% YoY) - 2024E: 3,553 million (down 48% YoY) - 2025E: 4,649 million (up 31% YoY) - 2026E: 5,095 million (up 10% YoY) [1][2] - **Earnings Per Share (EPS)**: - 2022A: 1.89 - 2023A: 1.19 - 2024E: 0.63 - 2025E: 0.82 - 2026E: 0.90 [1][2] Operational Insights - The company faced production disruptions due to safety incidents at its coal mines, which affected its output. The report notes that the company is expected to recover production levels gradually [1][2]. - The report highlights that the company successfully acquired exploration rights for coal and associated bauxite resources, which is anticipated to bolster its competitive advantage and resource reserves [1][2]. Market Comparison - The report mentions that the company's stock price as of October 30, 2024, was 8.28 yuan, with a market capitalization of approximately 47,006.40 million [1][2]. Valuation Metrics - **Price-to-Earnings (P/E) Ratio**: - 2022A: 4.4 - 2023A: 6.9 - 2024E: 13.2 - 2025E: 10.1 - 2026E: 9.2 [1][2] - **Price-to-Book (P/B) Ratio**: - 2022A: 1.4 - 2023A: 1.2 - 2024E: 1.3 - 2025E: 1.3 - 2026E: 1.3 [1][2]

Investment Rating - The investment rating for Shanxi Coking Coal is "Buy" (maintained) [1][3][6] Core Views - The report highlights that the decline in coking coal prices has negatively impacted the company's performance in the third quarter, despite the company being a leader in the coking coal industry with abundant resource reserves [1][2] - The report anticipates a potential recovery in coking coal prices due to low inventory levels at downstream steel and coking plants, which may lead to increased demand for replenishment towards the end of the year [2][3] Financial Performance Summary - For the first three quarters of 2024, the company achieved operating revenue of 33.09 billion yuan, a year-on-year decrease of 18.68%, and a net profit attributable to shareholders of 2.846 billion yuan, down 49.52% year-on-year [2] - In Q3 2024, the company reported operating revenue of 11.52 billion yuan, a quarter-on-quarter increase of 4.58% but a year-on-year decrease of 12.28% [2] - The net profit attributable to shareholders for Q3 2024 was 880 million yuan, a quarter-on-quarter decrease of 13.42% and a year-on-year decrease of 21.54% [2] Price and Market Data - The current stock price is 8.23 yuan, with a 52-week price range of 7.07 to 12.45 yuan [2] - The total market capitalization is approximately 46.72 billion yuan, and the circulating market capitalization is about 38.19 billion yuan [2] Earnings Forecast - The company is expected to achieve operating revenues of 48.406 billion yuan, 50.323 billion yuan, and 52.039 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 3.846 billion yuan, 4.389 billion yuan, and 5.016 billion yuan [3][4] - The report projects earnings per share (EPS) of 0.68 yuan, 0.77 yuan, and 0.88 yuan for the same years, with a price-to-earnings (P/E) ratio of 12, 11, and 9 respectively [3][4] Industry Outlook - The report emphasizes the importance of the long-term contract mechanism for coking coal sales, which is expected to stabilize market prices gradually [3] - The company’s abundant coal reserves, totaling 6.6 billion tons as of the end of 2023, are highlighted as a significant advantage [3]

Investment Rating - The report assigns a "Buy" rating to Shanxi Coking Coal (000983) with a target price raised to 9.60 yuan from the previous 9.12 yuan [5][4]. Core Views - The report anticipates an increase in coal volume but a decrease in price for Q3, with expectations of improved production and sales in Q4 to offset price declines. The company's asset structure is being optimized, and future growth is expected due to capacity expansion [3][4]. Summary by Sections Financial Performance - In the first three quarters of 2024, the company achieved revenue of 33.093 billion yuan, a year-on-year decrease of 18.68%, and a net profit attributable to shareholders of 2.846 billion yuan, down 49.52% year-on-year. Q3 net profit was 880 million yuan, a decrease of 21.54% year-on-year and 13.42% quarter-on-quarter, aligning with market expectations [4][10]. Production and Sales Outlook - For Q3 2024, the company reported revenue of 11.5 billion yuan, a quarter-on-quarter increase of 4.58%. The average benchmark coal price for Shanxi Coking Coal in Q3 was 1488 points, down 56 points from the previous quarter. The increase in revenue is attributed to higher production and sales volumes, which had been impacted by regulatory measures earlier in the year [4][10]. Cost and Expenses - The operating cost for Q3 2024 was 7.687 billion yuan, a quarter-on-quarter increase of 5.82%, primarily due to increased coal production and sales. Total expenses amounted to 1.663 billion yuan, reflecting a quarter-on-quarter increase of 15.41% [4]. Future Growth Potential - The company is expected to see a further increase in production and sales in Q4 2024, driven by the resumption of operations at two mines. The average benchmark coal price for Q4 is projected to be 1363 points, down 125 points from Q3. The report suggests that macroeconomic policy changes could stimulate demand and profitability recovery in the steel sector, making coking coal a preferred cyclical investment [4][10]. Asset Structure and Capacity Expansion - Since 2022, the company has significantly improved its asset structure, reducing its debt-to-asset ratio from 69% in 2021 to 46% currently. The company plans to allocate more funds for capacity expansion, having recently acquired exploration rights for coal and bauxite with a planned capacity of 8 million tons per year [4][10].

Investment Rating - The investment rating for Shanxi Coking Coal (000983.SZ) is maintained at "Buy" [1] Core Views - The report indicates that the decline in coal prices may negatively impact the company's performance, but there are growth prospects in coal mining and high dividend returns [1][2] - For the first three quarters of 2024, the company achieved operating revenue of 33.09 billion yuan, a year-on-year decrease of 18.7%, and a net profit attributable to shareholders of 2.85 billion yuan, down 49.5% year-on-year [1][2] - The report forecasts a decrease in net profit for 2024-2026, estimating 3.87 billion yuan, 4.21 billion yuan, and 4.88 billion yuan respectively, with corresponding EPS of 0.68 yuan, 0.74 yuan, and 0.86 yuan [1][2] Summary by Sections Financial Performance - In Q3 2024, the company reported operating revenue of 11.52 billion yuan, a quarter-on-quarter increase of 4.6%, but a net profit decrease of 13.4% [1] - The company’s coal production and sales are expected to improve, despite a temporary production halt due to safety incidents [1][2] Coal Business - The company’s coking coal long-term sales price remained stable at 2010 yuan/ton in Q3, but a price adjustment in September may lead to a decrease in average selling price [1][2] - The report highlights that the company has secured exploration rights for a new coal mine with a planned capacity of 8 million tons per year, which is expected to enhance production capacity [1][2] Dividend Policy - The company distributed a cash dividend of 0.8 yuan per share in 2023, with a payout ratio of 67.1%, and plans to maintain high dividend returns in the future [1][2]