Group 1 - Steel stocks experienced a rapid increase, with Maanshan Iron & Steel Co., Ltd. rising by 7.84% to HKD 2.89, Angang Steel Company Limited increasing by 3.17% to HKD 2.28, and Chongqing Iron & Steel Company Limited up by 2.13% to HKD 1.44 [1] - The launch ceremony for the Simandou project took place at the port of Maribaya in Guinea, which is noted to be the largest iron ore reserve globally and has the potential to become the fifth-largest mine [1] - Dongfang Securities indicated that the production of the Simandou project could significantly disrupt the monopoly of the four major mines on iron ore supply, leading to a substantial change in the iron ore supply landscape [1] Group 2 - Guotai Junan Securities released a report suggesting that steel demand is expected to gradually bottom out; despite prolonged industry losses, market-driven supply adjustments are beginning to emerge [1] - The report anticipates a gradual recovery in the fundamentals of the steel industry, with a faster contraction of supply expected if supply policies are implemented [1] - The progress of the industry's upward movement is likely to accelerate with the implementation of supply policies [1]

Market Overview - Hong Kong stocks showed a positive trend, closing up 0.85% as bulls took control, indicating a lack of negative news is perceived as positive [1] - The U.S. House of Representatives is expected to vote on a compromise plan to end the longest government shutdown in U.S. history, which could restore funding to government agencies [1] - The ADP private sector employment report for October showed a decrease of 45,000 jobs, the largest drop in two and a half years, suggesting a cooling labor market and increasing expectations for a Fed rate cut in December [1] Sector Performance - The banking sector saw a rebound with major banks like Agricultural Bank of China reaching new highs, driven by long-term investments from insurance funds and public funds [1] - Consumer sectors are gaining traction, with companies like "Hushang Auntie" seeing a significant increase of nearly 29%, indicating a recovery in consumer sentiment [2] - Retail sales in Hong Kong are projected to rise by 4% year-on-year in October, benefiting retail rental stocks [3] Company Highlights - Baijie Shenzhou reported a 44.2% increase in total revenue for the first three quarters, driven by sales growth of its self-developed products [3] - Xiaomi announced a significant sales figure of over 29 billion yuan during the Double 11 shopping festival, indicating strong consumer demand [4] - The Ximangdu iron ore project, with reserves exceeding 4.4 billion tons, has commenced production, potentially altering the global iron ore supply landscape and benefiting companies like Maanshan Iron & Steel [5] Industry Developments - The Chinese commercial aerospace sector is set to advance with the upcoming maiden flight of the reusable rocket "Zhuque-3," which aims to reduce launch costs significantly [6] - The sportswear manufacturing sector is expected to see a recovery in demand, with Shenzhou International projecting a 15.3% increase in revenue for the first half of 2025 [7] - The company has expanded its overseas production capacity, with 53% of its garment output coming from international facilities, indicating a strategic shift towards globalization [8]

重庆钢铁所属申万行业为：钢铁-普钢-板材。所属概念板块包括：余热发电、低价、特种钢、央企改 革、核电等。 11月12日，重庆钢铁盘中下跌2.50%，截至11:09，报1.56元/股，成交1.71亿元，换手率1.30%，总市值 138.09亿元。 资金流向方面，主力资金净流出1723.51万元，特大单买入1600.28万元，占比9.36%，卖出3732.91万 元，占比21.84%；大单买入5567.73万元，占比32.57%，卖出5158.61万元，占比30.18%。 重庆钢铁今年以来股价涨8.33%，近5个交易日涨0.65%，近20日涨0.65%，近60日涨1.30%。 今年以来重庆钢铁已经1次登上龙虎榜，最近一次登上龙虎榜为7月2日，当日龙虎榜净买入-7247.24万 元；买入总计9402.79万元 ，占总成交额比14.43%；卖出总计1.67亿元 ，占总成交额比25.56%。 资料显示，重庆钢铁股份有限公司位于重庆市长寿区江南街道江南大道2号，成立日期1997年8月11日， 上市日期2007年2月28日，公司主营业务涉及生产和销售热轧薄板、中厚板、螺纹钢、线材、钢坯、钢 铁副产品及焦炭煤化工制品等。主营 ...

Core Viewpoint - Hong Kong steel stocks experienced a rapid increase in afternoon trading, indicating positive market sentiment in the steel industry [1] Company Summaries - Maanshan Iron & Steel Company (00323.HK) saw a rise of 5.38%, trading at 2.74 HKD [1] - Chongqing Iron & Steel Company (01053.HK) increased by 2.88%, with shares priced at 1.43 HKD [1] - Ansteel Company (00347.HK) rose by 1.83%, reaching a price of 2.22 HKD [1]

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 Points - The company, Chongqing Iron and Steel Co., Ltd., will hold its 2025 Second Extraordinary General Meeting and the 2025 First A-share Class Shareholders' Meeting on November 26, 2025 [2][3] - The meetings will utilize a combination of on-site and online voting methods, with the online voting system provided by the Shanghai Stock Exchange [3][6] - Shareholders must register to attend the meetings, with specific procedures outlined for both individual and institutional shareholders [9][12] Meeting Details - The meetings will take place at 14:30 on November 26, 2025, at the company's conference center located at No. 2 Jiangnan Avenue, Jiangnan Street, Changshou District, Chongqing [3][14] - Online voting will be available from 9:15 to 15:00 on the same day, with specific time slots for trading system voting [3][6] - The company will provide detailed instructions for shareholders participating in the online voting process [6][8] Voting Procedures - Shareholders can vote through the Shanghai Stock Exchange's online voting system or in person, with the first vote cast being the one that counts if multiple votes are submitted [7][8] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts for the same class of shares [6][7] - Specific voting procedures are outlined for shareholders involved in margin trading, transfer, and other related activities [3][6] Attendance and Registration - Only shareholders registered with the China Securities Depository and Clearing Corporation Limited as of the close of trading on the registration date are eligible to attend the meetings [9][12] - Registration for attendance must be completed in advance, with detailed requirements for both corporate and individual shareholders [12][14] - The registration period is set for November 24, 2025, with specific times for both morning and afternoon sessions [14] Additional Information - The meetings are expected to last half a day, and attendees are responsible for their own travel and accommodation expenses [15] - Contact information for inquiries is provided, including the address and phone numbers for company representatives [15]

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。 2025年第一次H股類別股東大會通告 茲通告 重 慶 鋼 鐵 股 份 有 限 公 司（「本公司」）謹 訂 於2025年11月26日（星 期 三） 下 午3時 正（或 緊 隨2025年第二次臨時股東大會及2025年第一次A股類別 股 東 大 會 結 束 或 其 任 何 續 會 後）在 中 國 重 慶 市 長 壽 區 江 南 街 道 江 南 大 道 2號重慶鋼鐵股份有限公司會議中心二會議室舉行2025年第一次H股 類 別 股 東 大 會（「H股類別股東會」），以 審 議 並 酌 情 通 過 本 公 司 下 列 決 議 案。 特別決議案 1. 關 於 修 訂《公 司 章 程》及 附 件 中 類 別 股 東 相 關 條 款 的 議 案 承董事會命 中 國 重 慶，2025年11月10日 於 本 通 告 日 期，本 公 司 的 董 事 為：王 虎 ...

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。 2025年第二次臨時股東大會通告 董事會秘書 茲通告 重 慶 鋼 鐵 股 份 有 限 公 司（「本公司」）謹 訂 於2025年11月26日（星 期 三） 下午二時三十分在中國重慶市長壽區江南街道江南大道2號重慶鋼鐵會 議中心舉行2025年 第 二 次 臨 時 股 東 大 會（「臨時股東會」），以 審 議 並 酌 情 通 過 本 公 司 下 列 決 議 案。 普通決議案 1. 關於聘請2025年年審會計師事務所的議案 特別決議案 承董事會命 重慶鋼鐵股份有限公司 匡雲龍 中 國 重 慶，2025年11月10日 於 本 通 告 日 期，本 公 司 的 董 事 為：王 虎 祥 先 生（執 行 董 事）、孟 文 旺 先 生（執 行 董 事）、匡 雲 龍 先 生（執 行 董 事）、宋 德 安 先 生（非 執 行 董 事）、林 長 春 先 生（非 ...

附註： 為本人╱吾等的代表，代表本人╱吾等出席 貴公司訂於2025年11月26日（星期三）下午3時正（或緊隨2025年第二次臨時股東大 會及2025年第一次A股類別股東大會結束或其任何續會後）在中華人民共和國重慶市長壽區江南街道江南大道2號重慶鋼鐵股份 有限公司會議中心二會議室舉行的2025年第一次H股類別股東大會（或其任何續會）（「大會」）以審議及酌情通過載於大會通告上的 決議案，並在大會（或其任何續會）上按下列指示以本人╱吾等的名義就決議案投票。如無任何指示，則本人╱吾等的代表可自 行酌情投票。本人╱吾等的代表亦有權以其認為屬適當的方式對大會上正式提呈的任何事項自行投票。 | 序號 | 審議事項 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 特別決議案 | | （附註4） 贊成 | 反對 | （附註4） | 棄權 | （附註4） | | 1. | 關於修訂《公司章程》及附件中類別股東相關條款的議案 | | | | | | 簽署 （附註5） ： 日期： 2025年第一次H股類別股東大會代表委任表格 本人╱吾等 （附註1） 地址為 為重慶鋼 ...