本期业绩预亏的主要原因： (一)主营业务影响：2025年，国内钢铁行业延续减量调结构发展态势，在市场供需矛盾持续、钢材价格 承压及原料成本波动的环境下，钢企经营形势严峻。本期间，公司坚持"四有"经营原则，扎实推进机构 改革与协同创效，深化多维算账经营与对标找差，持续优化产品结构、提升高端产品占比，努力提升产 品经营能力与产线运行效率。其中，马钢有限在宝钢股份的协同支持下，实现铁前系统稳定提升、钢轧 系统提质增效、经营体系协同发展；长江钢铁以"低成本、差异化、高效率、快节奏"为经营方针，实施 差异化管控，推进基层组织变革，成本竞争力明显提升。公司多措并举，全年经营绩效较上年大幅改 善，归属于上市公司股东的净利润同比减亏约人民币44.09亿元到44.69亿元，但受四季度市场行情波动 影响，加之公司处于转型发展阶段，且部分参股公司经营业绩下滑，公司全年仍未实现扭亏。(二)非经 常性损益的影响：2025年，公司归属于上市公司股东的非经常性损益为净收益人民币0.22亿元，主要系 非流动资产处置、政府补助等因素综合影响所致。 格隆汇1月29日丨马钢股份(600808.SH)公布，预计公司2025年度实现归属于上市公司股东 ...

南财智讯1月29日电，马钢股份发布业绩预亏公告，预计公司2025年度实现归属于上市公司股东的净利 润为人民币-2.50亿元到-1.90亿元，与上年同期相比，将减少亏损人民币44.09亿元到44.69亿元；归属于 上市公司股东的扣除非经常性损益的净利润为人民币-2.72亿元到-2.12亿元，与上年同期相比，将减少 亏损人民币40.26亿元到40.86亿元。2025年，国内钢铁行业延续减量调结构发展态势，在市场供需矛盾 持续、钢材价格承压及原料成本波动的环境下，钢企经营形势严峻。本期间，公司坚持"四有"经营原 则，扎实推进机构改革与协同创效，深化多维算账经营与对标找差，持续优化产品结构、提升高端产品 占比，努力提升产品经营能力与产线运行效率。其中，马钢有限在宝钢股份的协同支持下，实现铁前系 统稳定提升、钢轧系统提质增效、经营体系协同发展；长江钢铁以"低成本、差异化、高效率、快节 奏"为经营方针，实施差异化管控，推进基层组织变革，成本竞争力明显提升。公司多措并举，全年经 营绩效较上年大幅改善，归属于上市公司股东的净利润同比减亏约人民币44.09亿元到44.69亿元，但受 四季度市场行情波动影响，加之公司处于转型发展 ...

Group 1 - The core point of the news is that Maanshan Iron & Steel Co., Ltd. (Ma Steel) has experienced fluctuations in its stock price and financial performance, with a recent decline in stock value and mixed results in revenue and profit [1][2]. Group 2 - As of January 12, Ma Steel's stock price dropped by 2.18% to 4.04 CNY per share, with a total market capitalization of 31.11 billion CNY [1]. - The company has seen a net outflow of 60.64 million CNY in principal funds, with significant selling pressure from large orders [1]. - Year-to-date, Ma Steel's stock has decreased by 4.27%, with a 1.94% decline over the last five trading days, but a 7.16% increase over the last 20 days [1]. - For the period from January to September 2025, Ma Steel reported operating revenue of 57.572 billion CNY, a year-on-year decrease of 6.41%, while net profit attributable to shareholders increased by 103.30% to 83.629 million CNY [2]. - The company has distributed a total of 15.903 billion CNY in dividends since its A-share listing, with 1.55 million CNY distributed in the last three years [3]. - As of September 30, 2025, the number of shareholders increased by 3.11% to 131,400, with the average circulating shares per person remaining at zero [2][3].

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12月31日 狀態: 新提交 | 2. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00323 | 說明 | H股 | | | | | | | | | 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 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 1,732,930,000 | RMB | | 1 RMB | | 1,732,930,000 | 本月底法定/註冊股本總額： RMB 7,700,681,186 FF301 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 公司名稱: 馬鞍山 ...

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 截至月份: 2025年12月31日 狀態: 新提交 致:香港交易及結算所有限公司 公司名稱: 星交日期: 2026年1月5日 增加備註 第 13 頁 共 22 頁 l. 法定/註冊股本變動 □ 不適用 | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市(註1) | を | + | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 600808 | 説明 | Ａ股 | | | | | | 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 | | | 5,967,751,186 RMB | | 1 RMB | | 5,967,751,186 | | 增加 / 減少 (-) | | | 0 | | RMB | | | | 本月底結存 | | | 5,967,751,186 RMB | | 1 RMB | | 5,9 ...

Core Viewpoint - Maanshan Iron & Steel Company Limited (Ma Steel) has experienced a decline in stock price and mixed financial performance, with a notable increase in net profit despite a decrease in revenue [1][2]. Group 1: Stock Performance - As of January 5, Ma Steel's stock price fell by 2.13% to 4.13 CNY per share, with a trading volume of 2.32 billion CNY and a turnover rate of 0.93%, resulting in a total market capitalization of 31.804 billion CNY [1]. - Year-to-date, Ma Steel's stock has decreased by 2.13%, with a 5-day decline of 2.82%, a 20-day increase of 8.40%, and a 60-day increase of 1.23% [1]. Group 2: Financial Performance - For the period from January to September 2025, Ma Steel reported operating revenue of 57.572 billion CNY, a year-on-year decrease of 6.41%, while net profit attributable to shareholders increased by 103.30% to 83.629 million CNY [2]. - Cumulatively, since its A-share listing, Ma Steel has distributed a total of 15.903 billion CNY in dividends, with 1.55 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Ma Steel increased by 3.11% to 131,400, with an average of 0 circulating shares per person [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 46.471 million shares, an increase of 7.8098 million shares from the previous period, while the Southern CSI 500 ETF reduced its holdings by 908,200 shares [3].

Core Viewpoint - Maanshan Iron & Steel Company Limited (Ma Steel) has experienced fluctuations in stock performance, with a notable increase in share price this year, despite recent declines in trading volume and net outflows of capital [1][2]. Group 1: Stock Performance - As of December 26, Ma Steel's stock price was 4.16 yuan per share, down 2.12% during the trading session, with a total market capitalization of 32.035 billion yuan [1]. - Year-to-date, Ma Steel's stock price has increased by 34.63%, with recent performance showing an 8.90% rise over the last five trading days, a 6.39% increase over the last 20 days, and a 14.29% increase over the last 60 days [1]. - The company has appeared on the "龙虎榜" (a trading board for 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]. Group 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%, while net profit attributable to shareholders increased by 103.30% to 83.6289 million yuan [2]. - Cumulatively, since its A-share listing, Ma Steel has distributed a total of 15.903 billion yuan in dividends, with 1.55 million yuan distributed over the past three years [3]. Group 3: Shareholder Structure - As of September 30, 2025, the number of shareholders for Ma Steel was 131,400, reflecting an increase of 3.11% from the previous period [2]. - 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].

Core Viewpoint - Maanshan Iron & Steel Co., Ltd. (Ma Steel) is focusing on strengthening its special steel business by implementing a product management strategy, full-process cost control, and differentiated competition, leading to improved operational results in its special steel segment [2] Group 1: Business Strategy - The company is committed to the overall strategy of "focusing on strengthening special steel" and has adjusted its product structure accordingly [2] - In 2023, Ma Steel developed 139 new special steel products and achieved certification for 23 of them [2] Group 2: Operational Improvements - The company has implemented measures such as scale enhancement, product structure adjustment, and full-process cost reduction, which have led to a turnaround from continuous losses since the launch of new special steel products [2] - By 2025, the company plans to optimize its special steel product structure, increasing production of high-end wind power gear steel from 99,000 tons per year to 136,000 tons per year, and P92 series steel for ultra-supercritical boiler pipes from 17,300 tons per year to 22,600 tons per year [2] Group 3: Collaboration and Strategic Goals - Ma Steel is collaborating with Baosteel on manufacturing processes and quality for special steel products such as bearing steel, cold heading steel, and spring steel [2] - The company aims to continue advancing its "2345" operational strategy to establish itself as a core player in Baowu's strategic product lineup, focusing on specialization and quality in special steel products to enhance market competitiveness and industry influence [2]

证券日报网讯 12月25日，马钢股份在互动平台回答投资者提问时表示，公司将持续按照精简总部的方 向建设母公司本部。随着马钢有限等经营主体独立运营，总部定位于战略管控和专业服务，原则上不再 承担具体生产经营职能，侧重发挥统筹协调、制度建设和专业支撑作用。人员规模上，公司计划将总部 机关人员长期控制在合理区间，通过岗位整合、内部流动和自然减员等方式，强化关键管理和专业技术 岗位，减少一般性行政岗位，形成"精干、高效、专业化"的总部团队。推进路径上，公司将持续对标公 司优秀同行的总部管控实践，围绕职能梳理、流程再造，分阶段推进精简优化。 （文章来源：证券日报） ...

Core Viewpoint - Maanshan Iron & Steel Co., Ltd. (Ma Steel) is currently focusing on increasing its direct supply ratio to customers, which stands at approximately 40%, with a higher ratio in plate and special steel products compared to long products [1] Group 1 - The overall direct supply ratio of Ma Steel is around 40%, with plate and special steel products having a higher direct supply ratio than long products [1] - The company acknowledges that its direct supply ratio is still lower than that of Baosteel Co., Ltd. (Baosteel) due to the warehouse-style sales model for long products [1] - Ma Steel plans to enhance its direct supply ratio in the plate sector by learning from best practices and optimizing its sales system to gradually approach Baosteel's direct supply level [1] Group 2 - The company aims to deepen its focus on regional markets and expand its reach to small and medium-sized end-users [1] - Ma Steel intends to systematically optimize its channel structure by reducing orders from distributors and promoting steady increases in order volumes and market share from end customers [1] - The goal is to continuously strengthen the overall competitiveness of its direct sales system [1]