Investment Rating - The report maintains an "Accumulate" rating for the steel industry [5] Core Viewpoints - The ROA of the ordinary steel sector is at a low level since 2010, with a projected ROA of 0.93% for H1 2025 due to declining industry demand and profits [1] - The PB_LF of the ordinary steel sector is 0.96, which is 6.67% below the average since 2013, indicating potential for growth [1] - There are currently 12 ordinary steel companies with a PB_LF below 1, while 11 companies have a dividend yield above 3% [2][3] - The report anticipates an increase in dividend payout ratios for ordinary steel companies as low-emission transformation projects are completed by 2025 [3] Summary by Sections Section 1: Financial Metrics - The ordinary steel sector's ROA is projected to be 0.93% for H1 2025, marking a low since 2010 [1] - The current PB_LF of 0.96 is 6.67% below the average since 2013, with significant room for growth compared to peaks in 2017 and 2021 [1] Section 2: Company Analysis - Among the ordinary steel companies, 12 have a PB_LF below 1, with notable companies like Hebei Steel at 0.51, New Steel at 0.52, and Ansteel at 0.54 [2] - 11 companies in the steel sector have a dividend yield exceeding 3%, with the highest being Youfa Group at 6.09% [2][3] Section 3: Investment Recommendations - The report recommends focusing on Baosteel, Ordos, CITIC Special Steel, and Jiuli Special Materials for investment, while also suggesting to pay attention to Youfa Group, Nanjing Steel, and others [3]

Market Overview - The Shanghai Composite Index closed at 3893.95 points, above the six-month moving average, with an increase of 0.45% [1] - The total trading volume of A-shares reached 17203.25 billion yuan [1] Stocks Breaking Six-Month Moving Average - A total of 67 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Suzhou Longjie: 6.72% - China Automotive Research: 5.94% - Yaxing Anchor Chain: 5.84% [1] Stock Performance Details - The following stocks showed notable performance: - Suzhou Longjie: Increased by 7.59% with a turnover rate of 9.42% [1] - China Automotive Research: Increased by 8.73% with a turnover rate of 2.87% [1] - Yaxing Anchor Chain: Increased by 6.44% with a turnover rate of 6.55% [1] Additional Stocks with Positive Movement - Other stocks with positive movement include: - New Nuo Wei: Increased by 7.50% [1] - Fulede: Increased by 6.07% [1] - Sanlisi: Increased by 3.74% [1] Summary of Deviation Rates - Stocks with smaller deviation rates that just crossed the six-month line include: - Baosteel: Just above the six-month line [1] - Sichuan Jiuzhou: Just above the six-month line [1] - Changan Automobile: Just above the six-month line [1]

Group 1 - The core viewpoint of the article highlights the growth in China's medium and heavy wide steel plate production, with a reported output of 18.41 million tons in July 2025, reflecting a year-on-year increase of 3.2% [1] - From January to July 2025, the cumulative production of medium and heavy wide steel plates in China reached 132.435 million tons, marking a cumulative growth of 4.4% [1] - The data is sourced from the National Bureau of Statistics and compiled by Zhiyan Consulting, indicating a robust market outlook for the steel industry in the coming years [1] Group 2 - Listed companies in the medium and heavy wide steel plate sector include Baosteel Co., Ltd. (600019), Ansteel Co., Ltd. (000898), Shougang Co., Ltd. (000959), and others [1] - Zhiyan Consulting has released a market research report titled "2025-2031 China Medium and Heavy Wide Steel Plate Industry Market Research Analysis and Industry Demand Assessment Report," which provides insights into industry trends and forecasts [1] - The article emphasizes Zhiyan Consulting's expertise in providing comprehensive industry research reports and tailored consulting services to support investment decisions [1]

Core Viewpoint - Baosteel Co., Ltd. announced its profit distribution plan for the first half of 2025, declaring a cash dividend of RMB 0.12 per share, totaling approximately RMB 2.57 billion for eligible shareholders [2][4][10]. Distribution Plan - The distribution is based on a total share capital of 21,782,084,749 shares, with 21,377,312,092 shares eligible for the cash dividend after excluding shares held in the company's repurchase account [4][6]. - The cash dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the record date [3][4]. Differentiated Dividend Distribution - The company will not implement any capital reserve transfer to increase share capital or other forms of distribution, focusing solely on cash dividends [4][6]. - The reference price for ex-dividend trading will be calculated based on the previous closing price minus the cash dividend [5][7]. Taxation Details - For individual shareholders and securities investment funds holding unrestricted circulating shares, no personal income tax will be withheld at the time of cash dividend distribution [9]. - For Qualified Foreign Institutional Investors (QFIIs), a 10% corporate income tax will be withheld, resulting in a net cash dividend of RMB 0.108 per share [10]. - Other institutional investors and corporate shareholders will be responsible for determining their own tax obligations [10][11]. Implementation Method - Cash dividends for shareholders with unrestricted circulating shares will be distributed through the clearing system of the China Securities Depository and Clearing Corporation [7][8]. - Specific arrangements are in place for major shareholders, including China Baowu Steel Group and others, for direct distribution of cash dividends [8]. Contact Information - For inquiries, shareholders can contact the Board Secretary's Office of Baosteel Co., Ltd. at the provided address and phone number [11].

9月17日，宝钢股份大宗交易成交470万股，成交额3252.4万元，占当日总成交额的3.18%，成交价6.92 元，较市场收盘价6.92元持平。 | 025-09-17 | 宝钢股份 | 600019 | 6.92 | 3252.4 | 470 | 华泰证券股份有限 公司广州珠江西路 Acres and concess and can be can and | 华泰证券股份有限 公司广州珠江西路 CLAND CORDER CORPORATION COLL CALL CONSULTER COLLECTION CONTRACT COLLEGION COLLEGION COLLEGION COLLEGION COLLEGION COLLEGION COLLEGION | 190 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券商称 | 证券代码 | 成交价(元) 成交金额[万元) 成交量(*) 买入营业部 | | | | 卖出营业部 | 是否为专场 | ...

FANGDA PARTNERS http://www.fangdalaw.com 中国上海市石门一路 288 号 电子邮件 E-mail: email@fangdalaw.com 兴业太古汇香港兴业中心二座 24 楼 电 话 Tel.: +86-21-2208 1166 邮政编码：200041 传 真 Fax.: +86-21-5298 5599 24/F, HKRI Centre Two HKRI Taikoo Hui 288 Shi Men Yi Road Shanghai, PRC 200041 上海市方达律师事务所 关于 宝山钢铁股份有限公司 差异化分红事项 之 法律意见书 致：宝山钢铁股份有限公司 上海市方达律师事务所(以下简称"本所")是具有中华人民共和国法律执业资 格的律师事务所。根据宝山钢铁股份有限公司(以下称"宝钢股份"或"公司")的委 托，本所就宝钢股份 2025 年上半年度利润分配所涉及的差异化权益分派特殊除权 除息(以下称"本次差异化分红")相关事项出具本法律意见书。 为出具本法律意见书之目的，本所经办律师(以下称"本所律师")依照现行有 1 效的中国法律法规的要求和规定，对宝钢股份提 ...

证券代码：600019 证券简称：宝钢股份 公告编号：临 2025-053 宝山钢铁股份有限公司2025年上半年度权益分派实施公告 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法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利人民币0.12元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/9/23 | － | 2025/9/24 | 2025/9/24 | 差异化分红送转： 是 一、 通过分配方案的股东会届次和日期 宝山钢铁股份有限公司（以下简称"宝钢股份"或"公司"）于2025 年 5 月 20 日召开的 2024年度股东大会授权董事会决定 2025 年中期利润分配方案，公司于 2025 年 8 月 26 日召开 的第九届董事会第二次会议审议通过《关于 2025 年上半年度利润分配的议案》。 二、 分配方案 1. 发放年度：2025年上半年度 2. 分派对象： 截至股权登记日下午上海证 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 第1笔成交价格为6.93元，成交520.00万股，成交金额3,603.60万元，溢价率为0.00%，买方营业部为华 泰证券股份有限公司广州珠江西路证券营业部，卖方营业部为华泰证券股份有限公司广州珠江西路证券 营业部。 9月16日，宝钢股份收跌1.14%，收盘价为6.93元，发生1笔大宗交易，合计成交量520万股，成交金额 3603.6万元。 责任编辑：小浪快报 进一步统计，近3个月内该股累计发生7笔大宗交易，合计成交金额为1.17亿元。该股近5个交易日累计 下跌1.98%，主力资金合计净流出3.28亿元。 ...

Group 1 - On September 16, Baosteel Co., Ltd. executed a block trade of 5.2 million shares, with a transaction value of 36.036 million yuan, accounting for 3.59% of the total trading volume for that day [1] - The transaction price was 6.93 yuan per share, which was in line with the market closing price of 6.93 yuan [1]

Core Viewpoint - The report highlights a slight decline in China's medium and thick wide steel plate production in May 2025, while showing an overall increase in production for the first five months of 2025 compared to the same period in 2024 [1] Industry Summary - In May 2025, China's medium and thick wide steel plate production reached 18.87 million tons, representing a year-on-year decrease of 1.3% [1] - Cumulative production from January to May 2025 was 94.694 million tons, reflecting a cumulative growth of 4.8% compared to the same period in the previous year [1] - The data is sourced from the National Bureau of Statistics and compiled by Zhiyan Consulting, a leading industry consulting firm in China [1]