煤炭扩储行为研究之一：直面“矿王”

山西证券股份有...2025-07-02

煤炭扩储行为研究系列报告说明：近年来，煤炭企业频频扩储，引发市场高度关注。一方面，煤炭扩储周期相对其他资源类行业更长，容易产生交易分歧；另一方面，各种环境变化导致现阶段煤企扩储行为对企业本身和资本市场相关资产定价均产生了深远影响。本系列报告尝试对煤炭扩储行为进行多维度的梳理、解读和研判。本篇报告主要以市场广泛关注的“矿王”现象为着眼点，探讨煤炭矿业权出让对上市公司资产定价的影响。走向市场化的矿业权...

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