股票简称：山东钢铁 证券代码：600022 编号：2026-011 山东钢铁股份有限公司 第八届董事会第二十四次会议决议公告 （五）本次会议由公司董事长毛展宏先生主持，公司高级管理人员 列席会议。 二、董事会会议审议情况 本次会议审议并通过了以下议案： （一）关于非公开协议转让所持有的控股子公司山信软件股份有限 公司 32.8649%股权的议案 本公司及董事会全体成员保证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、准确和完整承担法律责任。 一、董事会会议召开情况 （一）本次董事会会议召开符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 （二）本次董事会会议通知于 2026 年 3 月 27 日以电子邮件和直接 送达的方式发出。 （三）本次董事会会议于 2026 年 3 月 31 日以通讯方式召开。 （四）本次董事会会议应到董事 9 人，亲自出席董事 9 人。 — 1 — （二）关于同一控制下企业合并追溯调整 2024 年度财务数据的议案 本议案已经公司董事会风险管理与审计委员会审议通过。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 详细内容见上交所网站 ...

股票简称：山东钢铁 证券代码：600022 编号：2026-013 山东钢铁股份有限公司 关于同一控制下企业合并追溯调整 2024 年度财务数据的公告 本公司及董事会全体成员保证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、准确和完整承担法律责任。 2026 年 3 月 31 日，山东钢铁股份有限公司（以下简称"公司"）召 开第八届董事会第二十四次会议，会议审议通过《关于同一控制下企业合 并追溯调整 2024 年度财务数据的议案》，现将相关情况公告如下： 一、本次追溯调整财务数据的原因 2025 年 10 月 24 日，公司召开第八届董事会第十七次会议审议通过 《关于收购莱芜钢铁集团银山型钢有限公司 100%股权的议案》，同意公 司通过非公开协议转让方式以自有现金购买莱芜钢铁集团有限公司持有 的莱芜钢铁集团银山型钢有限公司（以下简称"银山型钢"）100%股权。 本次交易完成后，公司自 2025 年 11 月起将银山型钢纳入公司合并报表范 围，公司按照同一控制下企业合并的相关规定追溯调整 2024 年合并资产 负债表、合并利润表及合并现金流量表相关数据。 根据《企业会计准则第 2 号— ...

证券代码：600022 证券简称：山东钢铁 公告编号：2026-012 山东钢铁股份有限公司 关于转让控股子公司部分股权暨关联交易的公告 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： 山东钢铁股份有限公司（以下简称"公司"或"山东钢铁"或"乙方" 或"转让方"）拟与山东钢铁集团有限公司（以下简称"山钢集团"或"甲方" 或"受让方"）签署《股权转让协议》，通过非公开协议方式向山钢集团转让公 司持有的山信软件股份有限公司（以下简称"山信软件"或"交易标的"或"目 标公司"）32.8649%股权。 本次交易构成关联交易。 本次交易不构成重大资产重组。 本次交易未达到股东会审议标准。 公司不存在为山信软件提供担保、委托其理财的情形，山信软件未占用 公司资金。 除日常关联交易外，至本次交易为止，过去 12 个月内公司与同一关联人 或与不同关联人之间相同交易类别下标的相关的关联交易累计成交金额不存在 达到 3,000 万元以上，且占公司最近一期经审计净资产绝对值 5%以上的情况。 一、本次交易概述 （一）本次交易的基本情 ...

2025 年 10 月 24 日，公司召开第八届董事会第十七次会议审议通过 《关于收购莱芜钢铁集团银山型钢有限公司 100%股权的议案》，同意公 司通过非公开协议转让方式以自有现金购买莱芜钢铁集团有限公司持有 的莱芜钢铁集团银山型钢有限公司（以下简称"银山型钢"）100%股权。 本次交易完成后，公司自 2025 年 11 月起将银山型钢纳入公司合并报表范 围，公司按照同一控制下企业合并的相关规定追溯调整 2025 年第一季度 合并利润表及合并现金流量表相关数据。 根据《企业会计准则第 2 号——长期股权投资》《企业会计准则第 20 号——企业合并》《企业会计准则第 33 号——合并财务报表》等相关 规定： （一）参与合并的企业在合并前后均受同一方或相同的多方最终控 制且该控制并非暂时性的，为同一控制下的企业合并，此次股权交易属于 1 股票简称：山东钢铁 证券代码：600022 编号：2026-014 山东钢铁股份有限公司 关于同一控制下企业合并追溯调整 2025 年第一季度财务数据的 公告 本公司及董事会全体成员保证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、准确和完整承担法律责任 ...

Investment Rating - The steel industry is rated as "Positive" [2] Core Insights - The market performance for the steel sector showed a 0.20% increase, outperforming the broader market, with specific segments like special steel and long products experiencing slight declines [2][10] - Supply conditions indicate a high furnace capacity utilization rate of 86.6%, with an increase of 1.10 percentage points week-on-week [2][25] - Demand for the five major steel products rose to 888.0 million tons, reflecting a week-on-week increase of 19.49 million tons, or 2.24% [2][34] - Social inventory of the five major steel products decreased by 23.33 million tons week-on-week, a decline of 1.65% [2][40] - The average price index for common steel increased to 3450.8 CNY/ton, with a slight week-on-week rise of 2.86 CNY/ton [2][47] Supply Summary - As of March 27, the average daily pig iron output was 2.3109 million tons, showing a week-on-week increase of 2.94 million tons [2][25] - The capacity utilization for electric furnaces reached 58.9%, up by 2.30 percentage points week-on-week [2][25] - The total production of the five major steel products was 743.9 million tons, a slight decrease of 0.21 million tons week-on-week [2][25] Demand Summary - The consumption of the five major steel products reached 888.0 million tons, with a week-on-week increase of 19.49 million tons [2][34] - The transaction volume of construction steel by mainstream traders was 95,000 tons, reflecting a minor increase of 0.01 million tons week-on-week [2][34] - The transaction area of commercial housing in 30 major cities increased to 208.8 million square meters, up by 39.2 million square meters week-on-week [34] Inventory Summary - Social inventory of the five major steel products stood at 1387.7 million tons, down by 23.33 million tons week-on-week [2][40] - Factory inventory for the five major steel products was 510.2 million tons, a decrease of 25.06 million tons week-on-week [2][40] Price & Profit Summary - The comprehensive index for common steel was 3450.8 CNY/ton, with a year-on-year decline of 3.14% [2][47] - The profit for rebar from blast furnaces was 55 CNY/ton, down by 4.0 CNY/ton week-on-week [2][54] - The average cost of pig iron was 2369 CNY/ton, with a week-on-week decrease of 11.0 CNY/ton [2][54] Raw Material Summary - The spot price index for Australian iron ore (62% Fe) was 776 CNY/ton, with a week-on-week increase of 1.0 CNY/ton [2][70] - The price for main coking coal at Jingtang Port was 1720 CNY/ton, up by 120.0 CNY/ton week-on-week [2][70] - The price for first-grade metallurgical coke remained stable at 1715 CNY/ton [2][70] Company Valuation Summary - Key companies in the steel sector include Baosteel, Hualing Steel, and Shougang, with projected earnings per share (EPS) and price-to-earnings (P/E) ratios indicating potential growth [2][71]

旺季供需改善，成本扰动与情绪回暖并存 【】【】 钢铁 [Table_Industry] [Table_ReportDate] 2026 年 3 月 29 日 证券研究报告 行业研究——周报 [Tabl 行业周报 e_ReportType] [Table_StockAndRank] 钢铁 投资评级 看好 上次评级 看好 [高Table_Author] 升 煤炭、钢铁行业首席分析师 执业编号：S1500524100002 邮 箱：gaosheng@cindasc.com 刘 波 煤炭、钢铁行业分析师 执业编号：S1500525070001 邮 箱：liubo1@cindasc.com 李 睿 煤炭、钢铁行业分析师 执业编号：S1500525040002 邮箱：lirui@cindasc.com 本期内容提要： 请阅读最后一页免责声明及信息披露 http://www.cindasc.com 2 ➢ 本周市场表现：本周钢铁板块上涨 0.20%，表现优于大盘；其中，特 钢板块下跌 0.53%，长材板块下跌 0.24%，板材板块下跌 1.02%；铁 矿石板块上涨 7.48%，钢铁耗材板块下跌 0.31%，贸易流通板块上涨 ...

重要内容提示： | 交易目的 | | □获取投资收益 套期保值（合约类别：商品；□外汇；□其他：________） | | | --- | --- | --- | --- | | | | □其他：________ | | | 交易期限 | | 自公司董事会审议通过之日起至新的商品套期保值计划获批为 | | | | | 止，且持仓期限不超过 12 个月或实货合同规定期限。 | | | 期 货 期 权 | 业 | 铁矿石、焦炭、锰硅合金、镍、锌、螺纹钢 | | | 务交易品种 | | | | | 交易金额 | | 预计动用的交易保证金和权利金上 50,000 | | | | | 限（单位：万元） | | | 资金来源 | | 自有资金 □其他___ | □借贷资金 | 证券代码：600022 证券简称：山东钢铁 公告编号：2026-010 山东钢铁股份有限公司 关于开展 2026 年度商品期货套期保值业务的公告 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。 已履行及拟履行的审议程序：本事项已经公司第八届董事会第二十三次会 ...

本公司及董事会全体成员保证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、准确和完整承担法律责任。 股票简称：山东钢铁 证券代码：600022 编号：2026-009 山东钢铁股份有限公司 第八届董事会第二十三次会议决议公告 一、董事会会议召开情况 本议案已经公司董事会风险管理与审计委员会、独立董事专门会 议审议通过。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 详细内容见上交所网站（www.sse.com.cn）公告。 特此公告。 （一）本次董事会会议召开符合有关法律、行政法规、部门规章、规 范性文件和《公司章程》的规定。 （二）本次董事会会议通知于 2026 年 3 月 18 日以电子邮件和直接送 达的方式发出。 （三）本次董事会会议于 2026 年 3 月 24 日以通讯方式召开。 （四）本次董事会会议应到董事 9 人，亲自出席董事 9 人。 （五）本次会议由公司董事长毛展宏先生主持，公司高级管理人员列 席会议。 二、董事会会议审议情况 本次会议审议并通过了《关于 2026 年度商品套期保值计划的议案》。 — 1 — 山东钢铁股份有限公司董事会 2026 年 3 月 2 ...

Investment Rating - The steel industry maintains an investment rating of "Positive" [2] Core Insights - The steel sector experienced a decline of 10.03% this week, underperforming the broader market, with specific segments such as special steel down 9.18% and iron ore down 10.96% [10][12] - Supply conditions show an increase in high furnace capacity utilization to 85.5%, while electric furnace utilization rose to 56.6% [24] - Demand for the five major steel products increased to 868.5 million tons, reflecting a week-on-week rise of 8.82% [34] - Social inventory of the five major steel products decreased by 12.26 million tons week-on-week, while factory inventory fell by 16.40 million tons [41] - The average price index for common steel is 3448.0 yuan/ton, with a slight week-on-week increase, while special steel is at 6622.7 yuan/ton [47] - Profit margins for rebar steel decreased to 59 yuan/ton, while electric furnace profit margins for construction steel fell to -86 yuan/ton [55] Supply Summary - As of March 20, the average daily pig iron production was 2.2815 million tons, with a week-on-week increase of 6.95% [24] - The total production of the five major steel products reached 744.1 million tons, marking a week-on-week increase of 2.41% [24] Demand Summary - The consumption of the five major steel products reached 868.5 million tons, with a week-on-week increase of 70.40 million tons [34] - The transaction volume of construction steel by mainstream traders was 94,000 tons, showing a slight decline [34] Inventory Summary - Social inventory of the five major steel products stood at 14.11 million tons, down 0.86% week-on-week [41] - Factory inventory of the five major steel products was 5.352 million tons, also down 2.97% week-on-week [41] Price & Profit Summary - The common steel price index increased by 2.56 yuan/ton week-on-week, while the special steel price index rose by 5.93 yuan/ton [47] - The profit for rebar steel decreased by 5.0 yuan/ton week-on-week, while the electric furnace profit for construction steel decreased by 8.0 yuan/ton [55] Raw Material Prices Summary - The spot price index for Australian iron ore (62% Fe) was 776 yuan/ton, with a week-on-week increase of 1.0 yuan/ton [73] - The price for coking coal at the port was 1600 yuan/ton, reflecting a week-on-week increase of 10.0 yuan/ton [73] Company Valuation Summary - Key companies in the steel sector include Baosteel, Hualing Steel, and Shougang, with projected earnings per share (EPS) and price-to-earnings (P/E) ratios indicating potential growth [74]

Investment Rating - The steel industry is rated as "Positive" [2] Core Insights - The steel sector experienced a decline of 10.03% this week, underperforming the broader market, with specific segments such as special steel down 9.18% and iron ore down 10.96% [10][12] - Supply conditions show an increase in high furnace capacity utilization to 85.5%, while electric furnace utilization rose to 56.6% [24] - Demand for the five major steel products increased to 868.5 million tons, reflecting a week-on-week rise of 8.82% [34] - Social inventory of the five major steel products decreased by 0.86% week-on-week, while factory inventory fell by 2.97% [41] - The average price index for common steel is 3448.0 yuan/ton, with a slight week-on-week increase [47] - The report anticipates a long-term improvement in supply-demand dynamics, supported by cost factors and low valuations in the steel sector [3] Supply Summary - As of March 20, the average daily pig iron production was 2.2815 million tons, with a week-on-week increase of 6.95% [24] - High furnace capacity utilization increased by 2.61 percentage points to 85.5% [24] - Electric furnace capacity utilization rose by 6.13 percentage points to 56.6% [24] - Total production of the five major steel products reached 7.441 million tons, up 2.41% week-on-week [24] Demand Summary - Consumption of the five major steel products reached 8.685 million tons, with a week-on-week increase of 8.82% [34] - The transaction volume of construction steel by mainstream traders was 94,000 tons, showing a slight decline of 3.17% [34] - The transaction area of commercial housing in 30 major cities increased to 1.696 million square meters, reflecting a week-on-week rise [34] Inventory Summary - Social inventory of the five major steel products was 14.11 million tons, down 0.86% week-on-week [41] - Factory inventory of the five major steel products was 5.352 million tons, down 2.97% week-on-week [41] Price & Profit Summary - The common steel price index is 3448.0 yuan/ton, with a year-on-year decrease of 2.78% [47] - The special steel price index is 6622.7 yuan/ton, with a year-on-year decrease of 1.30% [47] - The profit for rebar production was 59 yuan/ton, down 7.81% week-on-week [55] - The profit for electric furnace construction steel was -86 yuan/ton, down 10.26% week-on-week [55] Raw Material Summary - The spot price index for Australian iron ore (62% Fe) was 776 yuan/ton, with a week-on-week increase of 1.0 yuan [73] - The price of coking coal at the port was 1600 yuan/ton, up 10.0 yuan week-on-week [73] - The price of first-grade metallurgical coke remained stable at 1715 yuan/ton [73] Company Valuation Summary - Key companies in the steel sector include Baosteel, Hualing Steel, and Shougang, with projected earnings per share (EPS) and price-to-earnings (P/E) ratios indicating potential for growth [74]