近日，有投资者在互动平台上提问，在减煤的大背景下，大秦铁路主业萎缩趋势是否已经不可逆转?对此，大秦铁路表示，当前仍处于煤炭消费的峰值平台期，国家强化能源安全兜底保障作用，未来一段时间内，煤炭仍将是我国能源结构中的基础资源，其保障能源安全的“压舱石”作用、维持市场平稳的“稳定器”作用短期内难以替代。

Recently, an investor raised a question on the interactive platform: Against the backdrop of reducing coal consumption, has the shrinking trend of the main business of Datong Railway been irreversible? In response, Datong Railway stated that it is currently still in the peak period of coal consumption. The country has strengthened the role of energy security as a guarantee, and in the coming period, coal will remain a fundamental resource in China's energy structure. Its role as a "balancing stone" for ensuring energy security and a "stabilizer" for maintaining market stability will be difficult to be replaced in the short term.

公司处于我国最重要的煤炭产销区域，山西省明确表示“十五五”期间保持煤炭产能稳定接续，保障国家电煤稳定供应。

The company is located in the most important coal production and sales area of our country. Shanxi Province has clearly stated that during the "15th Five-Year Plan" period, it will maintain stable coal production capacity and ensure the stable supply of national thermal coal.

也就是说，大秦铁路认为，未来一段时间内，大秦线煤炭运量是有保障的，不存在主业不可逆转的萎缩趋势。

That is to say, the Daxing Railway believes that in the coming period, the coal transportation volume on the Daxing Line will be guaranteed, and there is no irreversible trend of decline in its main business.

事实上，近年来，多因素影响下，大秦线运量整体偏低，再难达到4.5亿吨的高位。大秦铁路在2025年年报中也曾提到，在国家“双碳”政策驱动下，煤炭需求进入消费总量峰值的前期阶段。

In fact, in recent years, due to multiple factors, the transportation volume on the Daqin Line has been generally low, and it is difficult to reach the high level of 4.5 billion tons. The Daqin Railway also mentioned in its 2025 annual report that under the impetus of the country's "carbon neutrality" policy, the demand for coal has entered the early stage of reaching the peak of total consumption.

随着国内经济结构优化、能源结构转型等持续影响，主要耗煤行业拉动煤炭消费需求动力不足，非化石能源替代作用持续，国内煤炭需求增长空间将持续被压缩，加上公司周边煤运通道分流、竞争加剧，公司煤炭运输业务面临保量保收保利的挑战。

With the continuous impact of domestic economic structure optimization and energy structure transformation, the driving force for coal consumption in major coal-consuming industries has weakened. The substitution effect of non-fossil energy has persisted. The growth space for domestic coal demand will continue to be compressed. Moreover, due to the diversion of coal transportation channels around the company and intensified competition, the company's coal transportation business is facing challenges of ensuring stable output, revenue and profit.