為鞍鋼股份有限公司（「本公司」）股本中每股面值人民幣1.00元的H股 （附註2） 股 股之在冊股東，本人╱吾等茲委任 （附註3） 二零二五年第三次臨時股東會（「臨時股東會」）主席或 ， 地址為 ， 代表本人╱吾等出席本公司將於二零二五年九月十九日（星期五）下午二時正假座中華人民共和國遼寧省鞍山市鐵西 區鞍鋼廠區本公司會議室舉行臨時股東會或其任何續會，並以本人╱吾等名義依照下列指示就下列議案投票，如無 作出指示，則按本人╱吾等代理人認為合適的方法投票： | 普通決議案 | 贊成 | （附註4） | 反對 | （附註4） | 棄權 | （附註4） | | --- | --- | --- | --- | --- | --- | --- | | 選舉田勇先生為本公司第十屆董事會執行董事 | （附註9） | | | | | | 簽署： 日期： （股份編號：0347） 將於二零二五年九月十九日舉行之 二零二五年第三次臨時股東會適用之代理人委任表格 本人╱吾等 （附註1） 地址為 （附註1） ， 附註： ， 1. 請于空格內用正楷書寫 閣下的全名及地址。 2. 請于空格內填上本代理人委任表格所代表的股份數目。如已填上數目， ...

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通告的內 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 不對因本通告全部或任何部分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。. （股份編號：0347） 二零二五年第三次臨時股東會通告 茲通告 鞍 鋼 股 份 有 限 公 司（「本公司」）謹 定 於 二 零 二 五 年 九 月 十 九 日（星 期 五）下 午 二 時 正 假 座 中 華 人 民 共 和 國 遼 寧 省 鞍 山 市 鐵 西 區 鞍 鋼 廠 區 本 公 司 會 議 室 舉 行 臨 時 股 東 會（「臨時股東會」），以 審 議 並 酌 情 批 准 下 列 決 議 案。除 另 有 界 定 外，本 通 告 所 用 詞 彙 具 有 本 公 司 日 期 為 二 零 二 五 年 九 月 一 日 之 通 函 所 賦 予 之 相 同 涵 義。 普通決議案 選 舉 田 勇 先 生 為 公 司 第 十 屆 董 事 會 執 行 董 事。 承董事會命 鞍鋼股份有限公司 王 軍 – 1 – 於 本 通 告 日 期，董 事 會 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他註冊 證券商、銀行經理、律師、專業會計師或其他獨立專業顧問。 閣下如已將名下的鞍鋼股份有限公司的股份全部售出或轉讓，應立即將本通函送交買主或承 讓人，或經手買賣或轉讓的銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 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通函的內容概不負責，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通函全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 本通函僅供參考，並不構成購入、購買或認購證券的要約或邀請。 （股份編號：0347） (1)選舉一名第十屆董事會執行董事 及 釋 義 (2)二零二五年第三次臨時股東會通告 董事會函件載於本通函第1至4頁。 本公司謹定於二零二五年九月十九日（星期五）下午二時正假座中華人民共和國遼寧省鞍山市 鐵西區鞍鋼廠區本公司會議室舉行臨時股東會，召開股東會之通告已於二零二五年九月一日 登載於聯交所網站(www.hkexnews.hk)及本公司網站（http://angang.wspr.com.hk）。 於臨時股東 ...

Group 1 - Hong Kong gold stocks surged, with China Gold International, Zhaojin Mining, and Chifeng Jilong Gold rising over 5%, while Lingbao Gold and Tongguan Gold increased over 4%, and China Silver Group and Zijin Mining rose over 3% [1] Group 2 - President Trump announced the immediate dismissal of Federal Reserve Governor Lisa Cook, which analysts believe could lead to Trump gaining control over four seats at the Fed, raising concerns about the Fed's independence [3] - The dismissal is expected to increase rate cut expectations, driving investors towards traditional safe-haven assets like gold and the Japanese yen, as well as cryptocurrencies [3] - Selena Ling from OCBC Bank anticipates a 25 basis point rate cut in the Fed's September meeting, with a total potential reduction of up to 75 basis points for the year, predicting five rate cuts over the next two years [3] - Ling projects gold prices to reach $3,570 per ounce by the end of the year and $3,850 by mid-next year, driven by ongoing demand from central banks, institutions, and retail investors, alongside geopolitical and political factors [3]

Core Insights - The hydrogen metallurgy pilot line at Angang Steel's Bayuquan Steel Plant has achieved stable operation and entered the production phase, utilizing green hydrogen to replace coke in the iron-making process, aiming for near-zero carbon emissions [1][3] - The technology provides a low-carbon solution for the steel industry, addressing transformation challenges and positioning China to seize the high ground in hydrogen metallurgy technology [1] - The pilot line features a large scale with four systems: hydrogen production, granulation, reduction, and auxiliary systems, with a 100% localization rate for key equipment [1][3] Industry Characteristics - The fluidized bed hydrogen metallurgy technology is characterized by high adaptability to iron ore raw materials, overcoming particle agglomeration bottlenecks, high hydrogen reduction reaction efficiency, and complete autonomy in process equipment [3] - The direct reduced iron products from the pilot line have achieved a metallization rate of 95% [3] - Future plans include scaling up to a 500,000 tons per year industrial demonstration project for fluidized bed iron-making [3]

Core Viewpoint - Ansteel Co., Ltd. reported a decline in total revenue and a significant improvement in net profit loss for the first half of 2025, indicating a mixed performance amidst challenging market conditions [1][2]. Financial Performance - Total revenue for the first half of 2025 was 48.599 billion yuan, a decrease of 12.35% year-on-year [1]. - The net profit attributable to shareholders was -1.144 billion yuan, an improvement of 57.46% compared to the previous year [1]. - The gross margin increased by 133.26% to 0.65%, while the net margin improved by 52.45% to -2.29% [1]. - Total expenses (selling, administrative, and financial) amounted to 0.887 billion yuan, accounting for 1.83% of revenue, a decrease of 2.22% year-on-year [1]. - Earnings per share were -0.12 yuan, an increase of 57.49% year-on-year [1]. Business Evaluation - The company's historical return on invested capital (ROIC) has been weak, with a median of 3.86% over the past decade and a particularly poor ROIC of -11.06% in 2024 [2]. - The business model relies heavily on capital expenditure, necessitating careful evaluation of the profitability of such investments [2]. Competitive Advantages - The company has a strong brand reputation and is a leading supplier in various steel product segments, including shipbuilding and automotive [3][4]. - It possesses advanced technological capabilities in low-carbon metallurgy and clean steel production, ranking third in patent innovation index among Chinese steel enterprises [4]. - The company is actively pursuing digital transformation and has been recognized as a "digital leader" by the Ministry of Industry and Information Technology [4]. - It has a robust resource base, with significant iron ore reserves ensuring stable supply for operations [5]. Capital Expenditure Plans - For 2025, the company plans to invest 3.16 billion yuan in fixed assets and external investments, primarily for technological upgrades and information system improvements [6]. Raw Material Procurement - The company sources iron ore mainly from its own mines and imports, with a higher proportion coming from its own resources [7]. - Coal procurement is primarily from domestic sources, supplemented by imports, maintaining strategic partnerships with major state-owned coal mines [7].

Core Viewpoint - Ansteel Co., Ltd. reported a decline in total revenue for the first half of 2025, but showed improvement in profitability metrics, indicating a mixed performance in a challenging steel market [1][3]. Financial Performance - Total revenue for the first half of 2025 was 48.599 billion yuan, a decrease of 12.35% year-on-year - Net profit attributable to shareholders was -1.144 billion yuan, an increase of 57.46% year-on-year - Gross margin improved to 0.65%, up 133.26% year-on-year, while net margin was -2.29%, up 52.45% year-on-year - Total expenses (selling, administrative, and financial) amounted to 0.887 billion yuan, accounting for 1.83% of revenue, a decrease of 2.22% year-on-year [1][3]. Business Evaluation - The company's historical return on invested capital (ROIC) has been weak, with a median of 3.86% over the past decade and a particularly poor ROIC of -11.06% in 2024 - The business model relies heavily on capital expenditure, necessitating careful evaluation of capital projects and their financial viability [3]. Core Competencies - Brand Advantage: The company has a long history and high brand recognition, leading in various steel products such as shipbuilding and automotive steel - Product Advantage: As a major state-owned steel enterprise, it holds leading market shares in several high-end steel products - Technological Innovation: The company is at the forefront of low-carbon metallurgy and advanced manufacturing processes, with a strong patent portfolio [4][5]. Digital and Green Development - Digital Transformation: The company is recognized as a "Digital Pioneer" and has made significant advancements in smart manufacturing processes - Green Development: The company is committed to low-carbon production methods and has established a comprehensive low-carbon competitiveness framework [5]. Capital Expenditure Plans - For 2025, the company plans to invest 3.16 billion yuan in fixed assets and external investments, primarily for technological upgrades and information technology improvements [6]. Raw Material Procurement - The company sources iron ore primarily from its own mines and imports, with a focus on maintaining strategic partnerships with major coal suppliers for stable resource procurement [7].

Core Viewpoint - The steel industry is experiencing a recovery, leading to significant improvement in Ansteel's performance in the first half of the year, with a notable reduction in net loss compared to the previous year [1][2]. Group 1: Financial Performance - Ansteel reported a revenue of 48.599 billion yuan in the first half of the year, with a net loss of 1.144 billion yuan, representing a year-on-year reduction in loss of 57.46% [1]. - The production output for iron, steel, and materials reached 12.1643 million tons, 12.7908 million tons, and 12.0353 million tons respectively, with slight increases and decreases compared to the previous year [1]. Group 2: Operational Efficiency - The company focused on cost reduction and efficiency improvement, achieving a 7.5% increase in product adjustment index compared to the previous year [2]. - The cost of external energy per ton of steel decreased by 15.2%, while logistics costs at the Anshan headquarters fell by 8.8% [2]. - Overall, the company managed to reduce material consumption costs by 2.2% year-on-year [2]. Group 3: Market Dynamics - Ansteel has raised steel prices for September by 200 to 300 yuan across major product categories, reflecting a positive market demand outlook [3]. - The anticipated demand for inventory replenishment in downstream industries such as construction and machinery manufacturing is expected to contribute to a seasonal uptick in steel prices [3]. - The overall market conditions are improving, with expectations for enhanced profitability for steel companies as the industry continues to evolve [3].

Meeting Information - The company will hold its third extraordinary general meeting of shareholders on September 19, 2025 [1] - The meeting will take place at 14:00, with online voting available from 9:15 to 15:00 on the same day [1][4] - Shareholders can vote through the Shenzhen Stock Exchange trading system and the internet voting system [1][4] Eligibility and Attendance - Ordinary shareholders or their agents who hold shares by the registration date are eligible to attend the meeting [2] - Company directors, senior management, and appointed lawyers are also allowed to attend [2] - Registration can be done via mail, fax, or email, with specific documentation required for different types of shareholders [3] Voting Procedures - The meeting will include non-cumulative voting proposals, with separate counting for votes from minority investors on significant matters [3][6] - Shareholders must choose one voting method (on-site, online, or other) for their voting rights [1][6] - Detailed voting procedures for both the Shenzhen Stock Exchange trading system and the internet voting system are provided [4][6] Documentation - The company has provided an authorization letter template for shareholders who wish to delegate their voting rights [5] - The meeting's agenda and specific proposals will be published in advance for shareholder review [3]

Core Viewpoint - Ansteel Corporation (00347.HK) reported a decline in revenue for the first half of 2025, with a significant reduction in net profit compared to the previous year [1] Financial Performance - The company achieved a revenue of RMB 48.599 billion, a decrease of 12.35% year-on-year [1] - The net profit attributable to shareholders was RMB -1.144 billion, marking a 57.46% reduction in losses compared to the same period last year [1] - Basic earnings per share were RMB -0.122, an improvement from RMB -0.287 in the first half of 2024 [1] Production and Sales - The production volumes for iron, steel, and materials were 12.1643 million tons, 12.7908 million tons, and 12.0353 million tons, reflecting changes of +0.30%, -0.53%, and -0.52% year-on-year respectively [1] - Steel sales reached 12.0211 million tons, a slight increase of 0.08% year-on-year, with a sales-to-production ratio of 99.88% [1]