Core Viewpoint - The steel sector has experienced a significant improvement in profitability during the third quarter, with key companies showing notable stock price increases. Group 1: Stock Performance - Maanshan Iron & Steel Co., Ltd. (00323) rose by 5.38%, reaching HKD 2.74 [1] - Chongqing Iron & Steel Co., Ltd. (601005) increased by 2.88%, reaching HKD 1.43 [1] - Ansteel Company Limited (000898) (00347) saw a rise of 1.83%, reaching HKD 2.22 [1] Group 2: Industry Profitability - According to Mysteel, the profitability rate of steel mills increased from 59% at the end of June to 64% by the end of August [1] - In September, steel prices did not rise as much as coking coal prices, leading to a decline in profitability rates, with an average of 62% for the third quarter, up 4.5 percentage points from the second quarter [1] - Longjiang Securities estimates that the net profit per ton for the steel industry in Q3 2025 will be 92 CNY, an increase of 14 CNY per ton compared to the previous quarter, placing it at the 68th percentile since 2021 [1] Group 3: Future Outlook - Longjiang Securities anticipates that the profit margin for iron ore will be significantly greater than that for coking coal in 2026, with the commencement of the Ximangdu project potentially providing opportunities [1] - The report indicates that the expectation of reduced production among steel companies remains unfulfilled, as high-frequency data shows insufficient willingness to cut production [1] - The industry is expected to see a sustained realization of supply-side contraction logic under differentiated production restrictions and graded management in 2026 [1]

Core Viewpoint - The steel sector has experienced a significant improvement in profitability during the third quarter, with a notable increase in profit margins for steel mills compared to previous quarters [1] Industry Summary - Steel stocks saw a rapid increase in share prices, with Maanshan Iron & Steel Co. rising by 5.38% to HKD 2.74, Chongqing Iron & Steel Co. increasing by 2.88% to HKD 1.43, and Ansteel Co. gaining 1.83% to HKD 2.22 [1] - According to Mysteel's statistics, the profitability rate of steel mills rose from 59% at the end of June to 64% by the end of August, although it declined in September due to steel prices not keeping pace with coking coal prices [1] - The average profitability rate for steel mills in the third quarter was 62%, which is an increase of 4.5 percentage points compared to the second quarter [1] - Longjiang Securities projects that the net profit per ton for the steel industry will reach CNY 92 in Q3 2025, reflecting a quarter-on-quarter increase of CNY 14 per ton, positioning it at the 68th percentile since 2021 [1] Future Outlook - Longjiang Securities anticipates that the profit margin for iron ore will have greater potential for reduction compared to coking coal, with the commissioning of the Ximangdu project in 2026 expected to provide opportunities for growth [1] - The report indicates that the expectation of reduced internal competition in the third quarter remains largely speculative, as steel companies show limited willingness to cut production based on high-frequency molten iron data [1] - The industry is expected to see a sustained realization of supply-side contraction logic under differentiated production restrictions and graded management in 2026 [1]

Core Viewpoint - Maanshan Iron & Steel Company Limited (Ma Steel) has shown a mixed performance in stock trading, with a year-to-date increase of 33.33% in share price, despite a recent decline in revenue and a significant increase in net profit [1][2]. Financial Performance - For the period from January to September 2025, Ma Steel reported operating revenue of 57.572 billion yuan, a year-on-year decrease of 6.41% [2]. - The company achieved a net profit attributable to shareholders of 83.6289 million yuan, reflecting a substantial year-on-year growth of 103.30% [2]. Stock Market Activity - As of November 11, Ma Steel's stock price was 4.12 yuan per share, with a market capitalization of 31.727 billion yuan [1]. - The stock experienced a trading volume of 2.33 billion yuan, with a turnover rate of 0.97% [1]. - The company has appeared on the "龙虎榜" (a list of stocks with significant trading activity) twice this year, with the latest appearance on August 5, where it recorded a net buy of 94.5728 million yuan [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 131,400, up by 3.11% from the previous period [2][3]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 46.4711 million shares, an increase of 7.8098 million shares from the previous period [3]. Dividend Distribution - Since its A-share listing, Ma Steel has distributed a total of 15.903 billion yuan in dividends, with 1.55 billion yuan distributed over the past three years [3].

Core Viewpoint - The company plans to hold an earnings briefing on November 13, 2025, to provide investors with a comprehensive understanding of its performance and operations for the first three quarters of 2025 [1] Group 1 - The earnings briefing is scheduled for November 13, 2025, from 15:30 to 17:00 [1] - The purpose of the briefing is to address common concerns among investors [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何 損 失 承 擔 任 何 責 任。 馬鞍山鋼鐵股份有限公司 Maanshan Iron & Steel Company Limited 一. 說明會類型 本 次 業 績 說 明 會 將 通 過 網 絡 方 式 召 開，本 公 司 將 針 對2025年前三季 度 業 績 和 經 營 情 況 與 投 資 者 進 行 交 流，並 對 投 資 者 普 遍 關 注 的 問 題 進 行 回 答。 （在中華人民共和國註冊成立之股份有限公司） （股票代號：00323） 海外監管公告 關於召開2025年第三季度業績說明會的公告 本公告乃根據香港聯合交易所有限公司證券上市規則之13.10B條而作出。 馬 鞍 山 鋼 鐵 股 份 有 限 公 司（「本公司」或「公 司」）已 於2025年10月30日（星 期 四） 在上海證券交易所網站(www.sse.com.cn)披露本公司2025年 第 三 ...

股票代码：600808 股票简称：马钢股份 公告编号：2025-053 马鞍山钢铁股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 马鞍山钢铁股份有限公司（"公司"或"本公司"）董事会及全体董事保证本公告内容不 存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担 个别及连带责任。 重要内容提示： 2、会议召开方式：网络互动 3、会议召开地点：全景平台（http://rs.p5w.net） 三、参加人员 公司董事长蒋育翔先生，副总经理、财务负责人陈国荣先生，独立董事曾祥 飞女士，董事会秘书何红云女士，及经营财务部部长乐志海先生。如遇特殊情况， 参会人员将可能进行调整。 四、投资者参加方式 1、投资者可于 2025 年 11 月 13 日（星期四）15:30-17:00 登录全景路演平 本公司已于 2025 年 10 月 30 日在上海证券交易所网站（www.sse.com.cn） 披露本公司 2025 年第三季度报告。为了便于广大投资者更全面深入地了解本公 司 2025 年前三季度业绩和经营情况，本公司拟于 2025 年 11 月 13 日（星期四） 15:30-17: ...

致：香港交易及結算所有限公司 公司名稱: 馬鞍山鋼鐵股份有限公司 呈交日期: 2025年11月3日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | A | | 於香港聯交所上市 (註1) | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 600808 | 說明 | | A股 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 5,967,751,186 | | 0 | | 5,967,751,186 | | 增加 / 減少 (-) | | | | 0 | | | | | | 本月底結存 | | | | 5,967,751,186 | | 0 | | 5,967,7 ...

HKE 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 狀態: 新提交 截至月份: 2025年10月31日 致:香港交易及結算所有限公司 馬鞍山鋼鐵股份有限公司 公司名稱: 星交日期: 2025年11月3日 l. 法定/註冊股本變動 □ 不適用 客 1. 股份分類 普通股 股份類別 A 於香港聯交所上市 (註1) + A股 證券代號 (如上市) 600808 說明 增加多櫃檯證券代號 法定/註冊股份數目 面值 法定/註冊股本 □ 手動填寫 5,967,751,186 RMB 1 RMB 5,967,751,186 上月底結存 增加 / 減少 (-) RMB 0 0 本月底結存 5,967,751,186 RMB 1 RMB 5,967,751,186 是 2. 股份分類 普通股 股份類別 H 於香港聯交所上市 (註1) H股 證券代號 (如上市) 00323 說明 增加多櫃檯證券代號 □ 手動填寫 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 1,732,930,000 RMB 1 RMB 1,732,930,000 RMB 增加 / 減少 (-) 0 0 本月底結存 ...

Core Insights - Maanshan Iron & Steel Co., Ltd. (600808.SH) reported a total operating revenue of 57.572 billion yuan for Q3 2025, ranking 6th among disclosed peers [1] - The net profit attributable to shareholders reached 836.289 million yuan, an increase of 2.618 billion yuan compared to the same period last year [1] - The net cash inflow from operating activities was 4.324 billion yuan, ranking 5th among peers, with a year-on-year increase of 1.775 billion yuan, representing a 69.60% rise [1] Financial Performance - The latest debt-to-asset ratio is 60.56%, a decrease of 3.18 percentage points from the same period last year [3] - The gross profit margin is 5.09%, up 0.28 percentage points from the previous quarter, marking three consecutive quarters of increase, and up 5.44 percentage points year-on-year [3] - The return on equity (ROE) stands at 0.35%, an increase of 10.39 percentage points compared to the same period last year [3] - The diluted earnings per share (EPS) is 0.01 yuan, an increase of 0.34 yuan from the same period last year [3] Operational Efficiency - The total asset turnover ratio is 0.71 times, ranking 9th among disclosed peers [3] - The inventory turnover ratio is 7.04 times, ranking 11th among peers, with a year-on-year increase of 0.22 times, representing a 3.27% rise [3] Shareholder Structure - The number of shareholders is 131,400, with the top ten shareholders holding 5.789 billion shares, accounting for 75.18% of the total share capital [3] - The largest shareholder is Maanshan (Group) Holding Co., Ltd. with 4.84 billion shares [3]

Core Viewpoint - Maanshan Iron & Steel Company Limited (Ma Steel) announced the convening of its 46th meeting of the 10th Board of Directors on October 30, 2025, to review the proposal for changing the accounting firm for the year 2025 [1] Company Summary - Ma Steel's revenue composition for the year 2024 is as follows: 93.93% from the steel industry and 6.07% from other businesses [1]