行业动态

Industry Trends

全国 4月27日，国家能源局举行季度例行新闻发布会。国家能源局综合司副司长、新闻发言人张星表示，4月以来，全国煤炭日均调度产量持续处于1250万吨以上的较高水平，4月23日的数据显示，全国统调电厂存煤达到了1.9亿吨，可用32天，处于历史较高水平，总的看国内煤炭市场总体呈现出“价格微涨、库存充足、供需平稳”的特征，煤炭兜底保障作用显著。

Nationwide: On April 27th, the National Energy Administration held a quarterly regular press conference. Zhang Xing, the deputy director of the Comprehensive Department and the spokesperson of the National Energy Administration, stated that since April, the daily scheduled output of coal across the country has remained at a relatively high level of over 12.5 million tons. The data on April 23rd showed that the total coal reserves of the national dispatching power plants reached 190 million tons, sufficient for 32 days, which is at a historically high level. Overall, the domestic coal market shows the characteristics of "slight price increase, sufficient inventory, and stable supply and demand", and the role of coal as a guarantee is significant.

自然资源部4月29日发布我国最新矿产资源家底。我国稀土、钨、锡、钼、锑、镓、锗、铟、萤石、石墨等14种矿产储量居世界第一。2025年，我国煤炭、钒、钛、锌、稀土、钨、锡、钼、锑、镓、铟、金、碲等17种矿产产量居世界第一。目前我国矿产生产与冶炼加工规模稳居全球首位，2025年全国矿业产值约32.7万亿元，占GDP比重超23%。资源储量大幅增长，为资源自主可控奠定了坚实基础。

On April 29th, the Ministry of Natural Resources released China's latest inventory of mineral resources. China ranks first in the world in terms of reserves for 14 types of minerals, including rare earths, tungsten, tin, molybdenum, antimony, gallium, germanium, indium, fluorite, graphite, etc. By 2025, China will rank first in the world in terms of production and processing of 17 types of minerals, such as coal, vanadium, titanium, zinc, rare earths, tungsten, tin, molybdenum, antimony, gallium, indium, gold, and tellurium. Currently, China's production and processing of minerals are firmly ranked first globally, and the national mining industry's output is approximately 32.7 trillion yuan in 2025, accounting for over 23% of the GDP. The significant increase in resource reserves has laid a solid foundation for resource self-control.

国家统计局27日发布的数据显示，2026年1-3月，煤炭开采和洗选业实现营业收入6377.0亿元，同比上涨1.9%；煤炭开采和洗选业实现利润总额856.9亿元，同比上涨6.7%；煤炭开采和洗选业营业成本4551.2亿元，同比上涨1.5%。

Data released by the National Bureau of Statistics on the 27th shows that in the period from January to March 2026, the coal mining and washing industry achieved operating revenue of 637.70 billion yuan, up by 1.9% year-on-year; the total profit of the coal mining and washing industry reached 85.69 billion yuan, up by 6.7% year-on-year; the operating cost of the coal mining and washing industry was 455.12 billion yuan, up by 1.5% year-on-year.

4月28日，中国煤炭工业协会发布《2025煤炭行业发展年度报告》。报告预计，今年煤炭消费小幅增长，供给保持较高水平，煤炭进口处于高位，加之当前全社会存煤水平较高，全年煤炭市场供需将呈现总体平衡态势。同时仍需关注地缘政治导致的国际能源市场波动以及极端天气等因素引发的煤炭需求波动对区域性、时段性市场产生的影响。

On April 28th, the China Coal Industry Association released the "Annual Report on the Development of the Coal Industry in 2025". The report predicts that this year, coal consumption will increase slightly, supply will remain at a high level, coal imports will be at a high level, and due to the high level of coal reserves in the entire society, the supply and demand situation in the coal market throughout the year will present a generally balanced trend. At the same time, attention still needs to be paid to the impact of international energy market fluctuations caused by geopolitical factors and coal demand fluctuations triggered by extreme weather conditions on regional and seasonal markets.

4月28日，中华全国总工会决定，煤炭领域3个单位荣获全国五一劳动奖状，25人荣获全国五一劳动奖章，20个集体获评全国工人先锋号。

On April 28th, the All-China Federation of Trade Unions announced that three units in the coal industry were awarded the National May Day Labor Award Certificate, 25 individuals were awarded the National May Day Labor Medal, and 20 groups were recognized as National Workers' Vanguard Units.

4月27日至28日，由中国煤炭工业协会主办的2026年煤炭行业信用建设暨合规管理高质量发展交流会在江苏南京召开，总结部署行业信用体系建设工作，推动信用管理与合规经营深度融合。会议总结了2025年煤炭行业信用体系建设成效，并发布《煤炭行业信用状况分析报告（2026）》。报告显示，2025年共有136家企业通过信用等级认定，涵盖大型集团、生产煤矿、装备制造企业等。其中，AAA级企业达122家，占比达89.71%，行业信用水平整体较高，信用矩阵持续优化。同时，会议发布了30个诚信建设典型案例，覆盖安全生产、绿色低碳、科技创新等重点领域。

From April 27th to 28th, the 2026 Coal Industry Credit Construction and Compliance Management High-Quality Development Exchange Conference, organized by the China Coal Industry Association, was held in Nanjing, Jiangsu Province. The conference summarized and deployed the work on the construction of the industry's credit system, and promoted the deep integration of credit management and compliance operations. The conference summarized the achievements of the coal industry's credit system construction in 2025 and released the "Analysis Report on the Credit Status of the Coal Industry (2026)". The report shows that in 2025, a total of 136 enterprises were recognized for their credit ratings, covering large groups, production coal mines, and equipment manufacturing enterprises, etc. Among them, there were 122 AAA-rated enterprises, accounting for 89.71%, indicating a generally high credit level in the industry and continuous optimization of the credit matrix. At the same time, the conference released 30 exemplary cases of integrity construction, covering key areas such as safety production, green and low-carbon development, and technological innovation.

据商务部市场运行监测系统显示，4月20日至26日，全国煤炭价格略有上涨，其中动力煤、无烟块煤、炼焦煤每吨783元、1126元和1134元，分别上涨0.4%、0.4%和0.1%。

According to the market operation monitoring system of the Ministry of Commerce, from April 20th to 26th, the prices of coal across the country rose slightly. Among them, the prices of thermal coal, anthracite coal and coking coal were 783 yuan, 1126 yuan and 1134 yuan per ton respectively, increasing by 0.4%, 0.4% and 0.1% respectively.

山西 经山西省委、省政府同意，山西省政府办公厅日前公布《山西省加快能源绿色低碳转型发展实施方案》。《方案》提出，加强化石能源清洁高效开发利用，稳步提升煤炭供给韧性。在资源条件好、开发潜力大的区域布局建设120万吨/年及以上的智能绿色煤矿，重点推进12座新建（扩建）煤矿加快核准和开工建设，保障国家电煤稳定供应。根据资源接续紧迫程度，加快煤炭资源配置出让。支持矿与矿之间的夹缝资源、露天矿边帮压煤、无法新设矿业权的边角资源和已关闭煤矿剩余资源通过公开方式配置。按照市场化、法治化原则，积极引导低效无效产能有序退出，鼓励规模小、安全差、效率低的煤矿参与减量重组。

Shanxi: With the approval of the Provincial Committee and Government of Shanxi Province, the Office of the Provincial Government recently released the "Implementation Plan for Accelerating the Green and Low-Carbon Transformation of Energy in Shanxi Province". The plan states that efforts will be made to enhance the clean and efficient utilization of fossil energy and steadily improve the resilience of coal supply. In regions with favorable resources and great development potential, 120 million tons per year or larger intelligent and green coal mines will be built. Key efforts will be made to accelerate the approval and construction of 12 newly-built (redeveloped) coal mines, ensuring stable supply of national coal. Based on the urgency of resource succession, the allocation and transfer of coal resources will be accelerated. Support will be provided for the allocation of inter-mining resources, coal on the edge of open-pit mines, marginal resources that cannot be newly granted mining rights, and remaining resources from closed coal mines through public means. In accordance with the principles of marketization and legalization, efforts will be made to guide the orderly exit of inefficient and ineffective production capacity, and encourage small-scale, unsafe, and low-efficiency coal mines to participate in reduction and reorganization.

内蒙古 据商务部重要生产资料市场监测系统数据显示，4月11日-4月17日，从监测品种样本数据来看，内蒙古煤炭平均价格为698.43元/吨，环比下降0.1%，同比下降6.7%。其中，无烟煤2号洗选块煤均价为818.58元/吨，环比上涨0.1%，同比下降7.2%；动力煤发热量5000-5500大卡均价为553.06元/吨，环比上涨0.4%，同比下降3.3%；炼焦煤1/3焦煤均价为723.65元/吨，环比下降0.7%，同比下降8.4%。

Inner Mongolia: According to the important production materials market monitoring system of the Ministry of Commerce, from April 11th to April 17th, based on the sample data of the monitored varieties, the average price of coal in Inner Mongolia was 698.43 yuan per ton, with a month-on-month decrease of 0.1% and a year-on-year decrease of 6.7%. Among them, the average price of No. 2 washed lump coal for anthracite was 818.58 yuan per ton, with a month-on-month increase of 0.1% and a year-on-year decrease of 7.2%; the average price of thermal coal with calorific value of 5000-5500 calories was 553.06 yuan per ton, with a month-on-month increase of 0.4% and a year-on-year decrease of 3.3%; the average price of 1/3 coking coal was 723.65 yuan per ton, with a month-on-month decrease of 0.7% and a year-on-year decrease of 8.4%.

陕西 4月21日，陕西省发展改革委组织召开2026年一季度全省电力运行分析座谈会。一季度末，全省统调电厂库存平均可用24天，进煤、耗煤及库存均高于去年同期，电煤供应保障基础更加稳固。

Shaanxi: On April 21st, the Shaanxi Provincial Development and Reform Commission organized a provincial-level power operation analysis symposium for the first quarter of 2026. By the end of the first quarter, the average inventory of provincial unified power plants was sufficient for 24 days. The coal intake, consumption, and inventory all exceeded the same period last year, and the foundation for ensuring the supply of thermal coal has become more stable.

据商务部重要生产资料市场监测系统显示，4月11日-17日，陕西省煤炭均价1191.4元/吨，环比持平。其中，炼焦煤1378.3元/吨，环比上涨0.1%；动力煤686.0元/吨，环比上涨1.0%；无烟煤1510.0元/吨，环比下跌0.7%。

According to the important production materials market monitoring system of the Ministry of Commerce, from April 11th to 17th, the average price of coal in Shaanxi Province was 1,191.4 yuan per ton, remaining unchanged compared with the previous period. Among them, the price of coking coal was 1,378.3 yuan per ton, rising by 0.1% compared with the previous period; the price of thermal coal was 686.0 yuan per ton, rising by 1.0% compared with the previous period; the price of anthracite was 1,510.0 yuan per ton, falling by 0.7% compared with the previous period.

河北 日前，河北省人民政府印发《河北省国民经济和社会发展第十五个五年规划纲要》。纲要提出，优化能源多元化布局，加强能源供应保障能力，稳固煤炭、电力、石油、天然气保障能力，推动煤炭龙头企业、华北油田、冀东油田持续稳产增效，促进煤炭等传统能源与新能源融合发展。

Hebei: Recently, the People's Government of Hebei Province issued the "Outline of the 15th Five-Year Plan for National Economic and Social Development of Hebei Province". The outline states that it is necessary to optimize the diversified energy layout, strengthen the energy supply guarantee capacity, ensure the security of coal, electricity, oil and natural gas supplies, promote the continuous stable production and efficiency improvement of major coal enterprises, North China Oilfield and Dongbei Oilfield, and promote the integration and development of traditional energy sources such as coal with new energy sources.

河南 据河南省商务厅监测，4月13日-19日，河南省煤炭均价为755.73元/吨，较前一周下跌3.7%。其中，无烟煤较前一周上涨0.3%；烟煤较前一周下跌6.7%。

Henan: According to the monitoring by the Commerce Department of Henan Province, from April 13th to 19th, the average price of coal in Henan Province was 755.73 yuan per ton, down by 3.7% compared to the previous week. Among them, anthracite rose by 0.3% compared to the previous week; bituminous coal dropped by 6.7% compared to the previous week.

据商务部业务系统统一平台洛阳市重要生产资料监测系统数据显示，4月11日-17日，河南省洛阳市煤炭（烟煤）平均零售价为508.00元/吨，环比持平。

According to the data from the important production materials monitoring system of Luoyang City on the Business System Unified Platform of the Ministry of Commerce, from April 11th to 17th, the average retail price of coal (bituminous coal) in Luoyang City, Henan Province was 508.00 yuan per ton, showing no change compared with the previous period.

湖南 据湖南省商务厅对全省生产资料流通市场监测数据显示，4月13日-19日，湖南省煤炭市场销售均价1143.75元/吨，上涨0.1%，同比上涨3.5%。分品种看，无烟煤销售均价1430元/吨，持平，同比上涨2%；烟煤销售均价857.5元/吨，上涨0.3%，同比上涨6.2%。

Hunan: According to the monitoring data on the provincial production materials circulation market by the Hunan Provincial Commerce Department, from April 13th to 19th, the average selling price of coal in Hunan Province was 1,143.75 yuan per ton, rising by 0.1%, and increasing by 3.5% compared to the same period last year. By type, the average selling price of anthracite was 1,430 yuan per ton, remaining unchanged, and increasing by 2% compared to the same period last year; the average selling price of bituminous coal was 857.5 yuan per ton, rising by 0.3%, and increasing by 6.2% compared to the same period last year.

江西 据商务部重要生产资料监测系统数据显示，2026年3月，江西省萍乡市动力煤（发热量5000-5500大卡）平均交易价格为548元/吨，环比上涨0.9%，涨幅较上月略有扩大。

Jiangxi: According to the important production materials monitoring system of the Ministry of Commerce, in March 2026, the average transaction price of thermal coal (with calorific value ranging from 5000 to 5500 calories) in Pingxiang City, Jiangxi Province was 548 yuan per ton, up by 0.9% compared with the previous month, and the increase was slightly larger than that of the previous month.

重庆 4月28日，陕渝能源战略合作2026年联席会暨十周年座谈会在渝召开，会议聚焦“十年共赴 万千为证”主题，回顾十年来陕渝合作成果，总结今年一季度合作情况，并部署下一阶段重点工作。重庆市经信委党组书记、主任王志杰，陕煤集团党委书记、董事长张文琪出席会议并讲话，重庆市经信委党组成员、副主任涂兴永主持会议，华能集团重庆分公司党委书记、执行董事崔义致欢迎辞。

Chongqing: On April 28th, the 2026 Joint Conference of the Strategic Cooperation between Shaanxi and Chongqing Energy Enterprises and the 10th Anniversary Symposium were held in Chongqing. The meeting focused on the theme "Ten Years Together, Thousands of Promises as Evidence", reviewed the achievements of the cooperation between Shaanxi and Chongqing over the past ten years, summarized the cooperation situation in the first quarter of this year, and deployed the key tasks for the next stage. Wang Zhijie, the Secretary and Director of the Economic and Information Commission of Chongqing, and Zhang Wenqi, the Party Secretary and Chairman of Shaanxi Coal Industry Group, attended the meeting and delivered speeches. Tu Xingyong, the党组成员 and Deputy Director of the Economic and Information Commission of Chongqing， presided over the meeting. Cui Yi， the Party Secretary and Executive Director of the Chongqing Branch of Huaneng Group， delivered a welcome speech.

宁夏 宁夏统计局数据显示，1-3月份，宁夏规模以上工业原煤产量2498.53万吨，同比下降0.3%。其中，一般烟煤2315.68万吨，下降2.5%；炼焦烟煤167.68万吨，增长46.9%；无烟煤15.16万吨，下降11.3%。1-3月份，宁夏规模以上工业原煤销售量1396.54万吨，同比增长13.2%。截至3月末，全区原煤生产库存199.31万吨，库存周转天数为13天，同比下降65.1%。

Ningxia: According to data from the Ningxia Bureau of Statistics, from January to March, the output of raw coal by industrial enterprises above designated size in Ningxia was 24.9853 million tons, a decrease of 0.3% compared to the same period last year. Among them, the output of general bituminous coal was 23.1568 million tons, a decrease of 2.5%; the output of coking bituminous coal was 1.6768 million tons, an increase of 46.9%; and the output of anthracite was 151.6 tons, a decrease of 11.3%. From January to March, the sales volume of raw coal by industrial enterprises above designated size in Ningxia was 13.9654 million tons, an increase of 13.2% compared to the same period last year. As of the end of March, the production inventory of raw coal in the region was 1.9931 million tons, with the inventory turnover days being 13 days, a decrease of 65.1% compared to the same period last year.

据商务部市场运行监测系统显示，4月13日-19日，宁夏煤炭价格686.67元/吨，持平。当前煤炭市场供需整体保持平衡状态，价格平稳运行。展望后市，随着电力行业进入传统用煤淡季，市场成交逐步回落，预计后期煤炭市场将呈现温和调整态势。

According to the market operation monitoring system of the Ministry of Commerce, from April 13th to 19th, the price of coal in Ningxia was 686.67 yuan per ton, remaining unchanged. Currently, the supply and demand in the coal market are overall balanced and the prices are running steadily. Looking ahead, as the power industry enters the traditional off-season for coal use, market transactions will gradually decline, and it is expected that the coal market will show a moderate adjustment trend in the future.

云南 据商务部重要生产资料市场监测系统显示，4月13日-19日，云南省煤炭批发均价为1074.2元/吨，环比持平。其中，炼焦煤批发均价为1500元/吨，无烟煤批发均价为1000元/吨，动力煤批发均价为722.7元/吨，环比均持平。

Yunnan: According to the important production materials market monitoring system of the Ministry of Commerce, from April 13th to 19th, the average wholesale price of coal in Yunnan Province was 1,074.2 yuan per ton, remaining unchanged compared with the previous period. Among them, the average wholesale price of coking coal was 1,500 yuan per ton, the average wholesale price of anthracite coal was 1,000 yuan per ton, and the average wholesale price of thermal coal was 722.7 yuan per ton, all remaining unchanged compared with the previous period.

广西 据商务部重要生产资料市场监测系统显示，4月13日-19日，广西壮族自治区煤炭价格1933.5元/吨，环比下降0.9%。其中，无烟煤、烟煤价格分别为1901元/吨、1966元/吨，环比分别下降1.5%、0.4%。

Guangxi：According to the important production materials market monitoring system of the Ministry of Commerce, from April 13th to 19th, the price of coal in Guangxi Zhuang Autonomous Region was 1,933.5 yuan per ton, with a month-on-month decrease of 0.9%. Among them, the prices of anthracite and bituminous coal were 1,901 yuan per ton and 1,966 yuan per ton respectively, with month-on-month decreases of 1.5% and 0.4% respectively.

福建 根据商务部重要生产资料监测系统数据显示，2026年3月份，福建省监测样本企业的煤炭市场价格平均为1295.63元/吨，环比上涨1.1%。其中,无烟煤市场价格为1206.06元/吨，环比上涨2.4%；烟煤市场价格为1340.41元/吨，环比上涨0.6%。

Fujian: According to the important production materials monitoring system of the Ministry of Commerce, in March 2026, the average market price of coal for the monitoring sample enterprises in Fujian Province was 1,295.63 yuan per ton, up by 1.1% compared with the previous month. Among them, the market price of anthracite coal was 1,206.06 yuan per ton, up by 2.4% compared with the previous month; the market price of bituminous coal was 1,340.41 yuan per ton, up by 0.6% compared with the previous month.

根据商务部重要生产资料监测系统监测数据显示，4月13日-19日，福建省监测样本企业的煤炭市场价格平均为1461.94元/吨，环比上涨0.6%。其中，无烟煤市场价格为1337.50元/吨，环比上涨1.7%；烟煤市场价格为1524.16元/吨，环比上涨0.1%。

According to the monitoring data of the important production materials monitoring system of the Ministry of Commerce, from April 13th to 19th, the average price of coal in the monitoring sample enterprises in Fujian Province was 1,461.94 yuan per ton, with a month-on-month increase of 0.6%. Among them, the price of anthracite coal was 1,337.50 yuan per ton, with a month-on-month increase of 1.7%; the price of bituminous coal was 1,524.16 yuan per ton, with a month-on-month increase of 0.1%.

企业热点

Corporate Trends

国家能源集团 4月24日，国家能源集团与中国机械工业集团有限公司在京签署战略合作框架协议。国家能源集团党组书记、董事长邹磊，国机集团董事长、党委书记张晓仑出席签约仪式并见证签约。国家能源集团总经理、党组副书记冯来法，国机集团总经理、党委副书记周开荃见签，国家能源集团党组成员、总会计师刘敬山与国机集团党委常委、副总经理黎晓煜代表双方签署协议。

On April 24th, the State Energy Group and the China Machinery Industry Group Corporation signed a strategic cooperation framework agreement in Beijing. The Secretary and Chairman of the State Energy Group, Zou Lei, and the Chairman and Party Secretary of the China Machinery Industry Group Corporation, Zhang Xiaolin, attended the signing ceremony and witnessed the signing. The General Manager and Deputy Secretary of the Party Committee of the State Energy Group, Feng Laifa, and the General Manager and Deputy Secretary of the Party Committee and Board of Directors of the China Machinery Industry Group Corporation, Zhou Kaixuan, witnessed the signing. The Party Member and Deputy Secretary of the State Energy Group, Liu Jingshan, and the Party Committee Vice Member and Deputy General Manager of the China Machinery Industry Group Corporation, Li Xiaoyu, represented both parties to sign the agreement.

中国能源 中煤能源4月27日发布公告，2026年第一季度，公司实现营业收入341.89亿元，同比下降10.9%；归母净利润38.44亿元，同比下降3.2%。一季度，中煤能源自产商品煤销售收入147.27亿元，比上年同期160.70亿元减少13.43亿元，下降8.4%，主要是自产商品煤销售价格同比提高4元/吨，增加收入1.19亿元；销量同比减少298万吨，减少收入14.62亿元。

China Energy - China Coal Energy issued a notice on April 27th. In the first quarter of 2026, the company achieved a revenue of 34.189 billion yuan, a year-on-year decrease of 10.9%; the net profit attributable to the parent company was 3.844 billion yuan, a year-on-year decrease of 3.2%. In the first quarter, the self-produced coal sales revenue of China Coal Energy was 14.727 billion yuan, a decrease of 1.343 billion yuan compared to the same period of the previous year (16.070 billion yuan), a decline of 8.4%. The main reason was that the self-produced coal sales price increased by 4 yuan per ton compared to the same period of the previous year, increasing revenue by 119 million yuan; the sales volume decreased by 2.98 million tons compared to the same period of the previous year, reducing revenue by 1.462 billion yuan.

晋控煤业 晋控煤业4月27日发布公告称，公司2025年实现营业收入131.09亿元，同比下降12.80%；归属于上市公司股东的净利润18.31亿元，同比下降34.78%。基本每股收益1.09元。2025年度，公司煤炭产量3528.93万吨，同比增长1.80%；商品煤销量2865.64万吨，同比下降4.39%；煤炭业务收入实现125.20亿元，同比下降14.83%。其中，塔山煤矿煤炭产量2649.90万吨，商品煤销量2091.08 万吨；色连矿煤炭产量879.03万吨，商品煤销量774.56万吨。

Jin Kong Coal Industry announced on April 27 that the company's revenue for 2025 was 13.109 billion yuan, a decrease of 12.80% compared to the previous year; the net profit attributable to shareholders of the listed company was 1.831 billion yuan, a decrease of 34.78% compared to the previous year. The basic earnings per share was 1.09 yuan. In 2025, the company's coal production was 35.2893 million tons, an increase of 1.80% compared to the previous year; the sales volume of commercial coal was 28.6564 million tons, a decrease of 4.39% compared to the previous year; the revenue from the coal business was 12.520 billion yuan, a decrease of 14.83% compared to the previous year. Among them, the coal production of Taishan Coal Mine was 26.4990 million tons, and the sales volume of commercial coal was 20.9108 million tons; the coal production of Seliang Mine was 8.7903 million tons, and the sales volume of commercial coal was 7.7456 million tons.

兖矿能源 兖矿能源4月28日披露2026年第一季度报告。报告期内，公司有效抵御行业周期波动，经营业绩稳健增长，实现营业收入345.9亿元，同比增长1.8%；归属于上市公司股东的净利润39.5亿元，同比增长42.1%。

Yanjing Energy Yanjing Energy disclosed its first quarter report for 2026 on April 28. During the reporting period, the company effectively resisted industry cycle fluctuations and achieved stable growth in its operating performance, with a revenue of 34.59 billion yuan, an increase of 1.8% year-on-year; the net profit attributable to shareholders of the listed company was 3.95 billion yuan, an increase of 42.1% year-on-year.

华阳股份 4月24日，华阳股份第八届董事会第二十次会议召开。会议审议并表决通过了《2025年度总经理工作报告》《2025年度董事会工作报告》等19项议案。

Huayang Co., Ltd. On April 24th, the 20th meeting of the 8th Board of Directors of Huayang Co., Ltd. was held. The meeting deliberated and voted to approve 19 proposals including the "2025 Annual Report of the General Manager" and the "2025 Annual Report of the Board of Directors".

4月27日，华阳股份披露2025年年报。报告期内，公司实现营业收入214.44亿元，同比下降14.43%；归属于上市公司股东的净利润17.03亿元，同比下降23.45%。公司煤炭业务收入达179.51亿元，占主营业务收入比重升至90.87%。2025年，华阳股份原煤产量完成4,161万吨，同比增长8.43%。销售煤炭3,960万吨，同比增长11.42%；其中洗块煤374万吨，同比降低0.55%；洗末煤268万吨，同比增长2.86%；末煤3132万吨，同比增长12.79%。

On April 27th, Huayang Co., Ltd. released its 2025 annual report. During the reporting period, the company achieved a revenue of 21.444 billion yuan, a year-on-year decrease of 14.43%; the net profit attributable to shareholders of the listed company was 1.703 billion yuan, a year-on-year decrease of 23.45%. The coal business revenue of the company reached 17.951 billion yuan, accounting for 90.87% of the main business revenue. In 2025, Huayang Co., Ltd. completed a raw coal production of 41.61 million tons, an increase of 8.43% year-on-year. It sold 39.6 million tons of coal, an increase of 11.42% year-on-year; among which, 3.74 million tons of washed lump coal, a decrease of 0.55% year-on-year; 2.68 million tons of washed tailings coal, an increase of 2.86% year-on-year; and 31.32 million tons of tailings coal, an increase of 12.79% year-on-year.

华阳股份披露2026年一季报，报告期内实现营业收入49.26亿元，同比下降15.33%；归属于上市公司股东的净利润4.84亿元，同比减少18.98%。一季度，该公司经营活动产生的现金流量净额为-3.84亿元，同比减少115.59%。

Huayang Co., Ltd. released its first-quarter financial report for 2026. During the reporting period, the company achieved a revenue of 4.926 billion yuan, a year-on-year decrease of 15.33%; the net profit attributable to shareholders of the listed company was 484 million yuan, a year-on-year decrease of 18.98%. In the first quarter, the company's net cash flow generated from operating activities was -384 million yuan, a year-on-year decrease of 115.59%.

兰花科创 兰花科创披露的2025年年度报告显示，2025年，公司实现营收81.42亿元，同比下降30.39%；归母净利润亏损5.40亿元，上年同期盈利7.18亿。基本每股收益为-0.3665元。2025年，兰花科创煤炭产品产量1444.16万吨，同比增长4.23%；销量1257.71万吨，同比增长0.05%；销售收入62.06亿元，同比下降21.72%；毛利16.84亿元，同比下降46.12%。

Lanhuangkechuang disclosed its 2025 annual report, showing that in 2025, the company achieved a revenue of 8.142 billion yuan, a year-on-year decrease of 30.39%; the net profit attributable to the parent company was a loss of 540 million yuan, while in the same period of the previous year it was a profit of 718 million yuan. The basic earnings per share was -0.3665 yuan. In 2025, the coal product output of Lanhuangkechuang was 14.4416 million tons, a year-on-year increase of 4.23%; the sales volume was 12.5771 million tons, a year-on-year increase of 0.05%; the sales revenue was 6.206 billion yuan, a year-on-year decrease of 21.72%; the gross profit was 1.684 billion yuan, a year-on-year decrease of 46.12%.

宁夏煤业 4月24日，宁夏煤业召开2026年一季度经济活动分析会和提质增效暨“成本革命”推进会，全面贯彻落实集团公司及宁夏煤业2026年工作会议精神，总结一季度工作，剖析存在的短板和不足，再动员、再部署提质增效暨“成本革命”专项行动，安排部署下一阶段重点工作，确保上半年实现“双过半、硬过半”目标。

Ningxia Coal Industry On April 24th, Ningxia Coal Industry held the 2026 First Quarter Economic Activity Analysis Meeting and the Quality Improvement and Efficiency Enhancement as Well as the "Cost Revolution" Promotion Meeting. It fully implemented the spirit of the 2026 Work Conference of the Group Company and Ningxia Coal Industry, summarized the work in the first quarter, analyzed the existing shortcomings and deficiencies, re-activated and re-deployed the quality improvement and efficiency enhancement as well as the "Cost Revolution" special action, and arranged and deployed the key tasks for the next stage, ensuring the achievement of the "Double Half and Hard Half" goals for the first half of the year.

4月21至24日，第三十八届中国国际塑料橡胶工业展览会在上海国家会展中心（虹桥）举办，国家能源集团受邀参加，宁夏煤业聚烯烃、油化品、C能+润滑油、催化剂、炭基等70余种产品和下游制品及多项成果在此亮相。

From April 21st to 24th, the 38th China International Plastics and Rubber Industry Exhibition was held at the Shanghai National Exhibition Center (Hongqiao). The State Energy Group was invited to participate. More than 70 products and downstream products, as well as multiple achievements, from Ningxia Coal Industry's polyolefin, petrochemicals, C Energy + lubricants, catalysts, carbon-based materials, etc., were showcased here.

山煤国际 山煤国际4月23日发布年度报告。2025年，山煤国际实现营业收入204.72亿元，较上年同期下降30.75%；归属于母公司股东的净利润为11.66亿元，同比降幅达48.58%；基本每股收益0.59元。煤炭生产业务收入145.97亿元，同比下降15.46%；煤炭贸易业务收入51.96亿元，同比大幅下降55.48%。2025年，山煤国际原煤产量3508.98万吨，同比增长6.40%；自产煤销量2775.51万吨，同比增长3.82%；销售均价525.93元/吨，同比下降18.57%。煤炭贸易量1142.29万吨，同比下降39.87%；其中进口贸易量561.85万吨；销售均价454.90元/吨，同比下降25.97%。

Shanmei International released its annual report on April 23rd. In 2025, Shanmei International achieved an operating revenue of 20.472 billion yuan, a decrease of 30.75% compared to the previous year; the net profit attributable to shareholders of the parent company was 1.166 billion yuan, a decline of 48.58% year-on-year; the basic earnings per share was 0.59 yuan. The revenue from the coal production business was 14.597 billion yuan, a decrease of 15.46% compared to the previous year; the revenue from the coal trading business was 5.196 billion yuan, a significant decrease of 55.48% compared to the previous year. In 2025, Shanmei International's raw coal production was 35.0898 million tons, an increase of 6.40% compared to the previous year; the self-produced coal sales volume was 27.7551 million tons, an increase of 3.82% compared to the previous year; the sales average price was 525.93 yuan per ton, a decrease of 18.57% compared to the previous year. The coal trading volume was 11.4229 million tons, a decrease of 39.87% compared to the previous year; among which, the import trading volume was 5.6185 million tons; the sales average price was 454.90 yuan per ton, a decrease of 25.97% compared to the previous year.

恒源煤电 恒源煤电4月23日发布的季报显示，2026年一季度，公司实现营业总收入16.31亿元，同比增长38.35%；归母净利润3052.27万元，同比增长12.29%；扣非净利润2298.66万元，同比增长72.54%。基本每股收益为0.0254元。一季度恒源煤电原煤产量252.14万吨，同比增长6.56%；商品煤产量197.11万吨，同比增长12.41%；商品煤销量151.96万吨，同比下降5.04%。

Hengyuan Coal Electricity Hengyuan Coal Electricity released its quarterly report on April 23rd. The report shows that in the first quarter of 2026, the company achieved a total operating revenue of 1.631 billion yuan, an increase of 38.35% compared to the previous year; the net profit attributable to the parent company was 30.5227 million yuan, an increase of 12.29% compared to the previous year; the non-GAAP net profit was 22.9866 million yuan, an increase of 72.54% compared to the previous year. The basic earnings per share was 0.0254 yuan. In the first quarter, Hengyuan Coal Electricity's raw coal production was 2.5214 million tons, an increase of 6.56% compared to the previous year; the production of commercial coal was 1.9711 million tons, an increase of 12.41% compared to the previous year; the sales volume of commercial coal was 1.5196 million tons, a decrease of 5.04% compared to the previous year.

盘江股份 盘江股份发布的公告显示，2025年，公司实现营业收入97.62亿元，同比增长9.68%；实现净利润3.3亿元，同比增长216.34%；扣非后的净利润为2.68亿元，同比增长1053.31%。基本每股收益0.153元。截至2025年末，该公司拥有煤炭资源量80亿吨、可采储量41亿吨；生产矿井煤炭产能达2070万吨/年，在建矿井产能220万吨/年。2025年，公司原煤产量1,587.59万吨，完成预算的101.70%；商品煤产量1,008.79万吨，完成预算的98.90%，对外商品煤销量795.53万吨，完成预算的110.56%。

Panjiang Co., Ltd. The announcement released by Panjiang Co., Ltd. shows that in 2025, the company achieved an operating revenue of 9.762 billion yuan, an increase of 9.68% year-on-year; realized a net profit of 330 million yuan, an increase of 216.34% year-on-year; the non-pretax net profit was 268 million yuan, an increase of 1,053.31% year-on-year. The basic earnings per share was 0.153 yuan. By the end of 2025, the company had a coal resource volume of 8 billion tons and a recoverable reserve of 4.1 billion tons; the coal production capacity of the operating mines reached 20.70 million tons per year, and the capacity of the under-construction mines was 2.20 million tons per year. In 2025, the company's raw coal output was 15.8759 million tons, completing 101.70% of the budget; the output of commercial coal was 10.0879 million tons, completing 98.90% of the budget, and the external sales volume of commercial coal was 7.9553 million tons, completing 110.56% of the budget.

永泰能源 永泰能源4月27日披露2026年第一季度财报。一季度，永泰能源实现营收55.22亿元，同比下降2.10%；归母净利润6184万元，同比增长21.09%。基本每股收益0.0028元。一季度，永泰能源实现自产商品煤产量282.92万吨，同比增长19.51%；销量282.61万吨，同比增长21.85%；自产商品煤销售收入收入14.98亿元，同比增长29.25%；自产商品煤毛利同比增长36.07%。

Yongtai Energy disclosed its first-quarter financial report for 2026 on April 27. In the first quarter, Yongtai Energy achieved a revenue of 5.522 billion yuan, a year-on-year decrease of 2.10%; its net profit attributable to the parent company was 61.84 million yuan, a year-on-year increase of 21.09%. The basic earnings per share was 0.0028 yuan. In the first quarter, Yongtai Energy produced 2.8292 million tons of self-produced coal, a year-on-year increase of 19.51%; the sales volume was 2.8261 million tons, a year-on-year increase of 21.85%; the revenue from self-produced coal was 1.498 billion yuan, a year-on-year increase of 29.25%; and the gross profit from self-produced coal increased by 36.07% year-on-year.

国能新疆能源 4月21日，国能新疆能源红沙泉二号露天煤矿首列满载3426吨混煤的专列从将军庙火车站驶出，发往东方希望重庆水泥有限公司，标志着该矿混煤这一煤炭新品种成功打开区外市场。

Guoneng Xinjiang Energy On April 21st, the first special train carrying 3,426 tons of blended coal from Hongshaquan No.2 Open-pit Coal Mine of Guoneng Xinjiang Energy departed from Juntai Temple Railway Station and headed for Dongfanghao Chongqing Cement Co., Ltd., marking the successful opening of this new coal variety - blended coal - to the external market.

安全资讯

Safety Information

全国 4月27日，国务院安委办、应急管理部召开全国安全防范工作视频调度会议，要求进一步做好“五一”假期前后安全防范重点工作，有效防范化解各类安全风险。具体来看，要求深刻吸取事故教训，压实隐患整改责任。紧盯高危行业重大风险，强化矿山瓦斯、顶板、水害、火灾等防治措施落实，狠抓“三违”治理等。

On April 27th across the country, the Office of the State Council's Safety Committee and the Ministry of Emergency Management held a video conference on national safety prevention work, demanding that further efforts be made to focus on key safety prevention tasks before and after the May Day holiday, and to effectively prevent and resolve all kinds of safety risks. Specifically, it is required to deeply learn from the lessons of the accidents, and to strengthen the responsibility for rectifying hidden dangers. Pay close attention to major risks in high-risk industries, strengthen the implementation of prevention measures for mines, gas, roof, water disasters, and fires, and strictly enforce the governance of "three violations".

山西 为进一步压实煤矿顶板管理责任，有效防范遏制顶板事故，近日，山西省应急管理厅在全省推广山西焦煤集团公司及庞庞塔煤矿《煤矿顶板“巷长制”管理办法》，要求煤矿安全监管部门和煤矿企业高度重视顶板管理的责任落实。

In order to further strengthen the responsibility for managing the coal mine roof and effectively prevent and control roof-related accidents, recently, the Emergency Management Department of Shanxi Province has promoted the "Mine Roof 'Section Leader System' Management Measures" of Shanxi Jiaocheng Coal Group and Pangpangta Coal Mine throughout the province. It requires the safety supervision departments of coal mines and coal enterprises to attach great importance to the implementation of the responsibility for roof management.

安徽 日前，安徽省应急管理厅召开党委扩大会议，研究部署“五一”前后安全防范工作，要求扎实开展矿山等重点行业领域隐患排查整治，组织开展明查暗访，推动问题隐患立行立改、各项安全防范措施落地见效。

Anhui Province Recently, the Emergency Management Department of Anhui Province held a meeting of the Party committee's expanded session to study and deploy safety prevention work before and after the May Day holiday. It required a thorough investigation and rectification of hidden dangers in key industries such as mines, and organized spot checks and undercover investigations to urge the immediate rectification of problems and the implementation of all safety prevention measures.

煤炭运输

Coal transportation

铁路 4月27日，“中国重载第一路”大秦铁路为期27天的2026年春季集中修施工收官，比原计划提前3天完成，为即将到来的迎峰度夏能源运输夯实设备基础。本次集中修从4月1日起至4月27日结束。施工期间，大秦铁路日均运量达到100万吨，实现运输任务与施工质效双赢。

Railway On April 27th, the 27-day 2026 spring concentrated maintenance operation of the "China's Heavy-Haul Main Line" Daxing Railway came to an end. It was completed 3 days ahead of the original schedule, laying a solid equipment foundation for the upcoming peak electricity demand and summer energy transportation. This concentrated maintenance operation lasted from April 1st to April 27th. During the construction period, the daily transportation volume of Daxing Railway reached 1 million tons, achieving a win-win situation for transportation tasks and construction quality and efficiency.