山东钢铁股份有限公司 2025 年第二次临时股东会 会议材料 二○二五年九月十二日 — 1 — 四、股东会召开期间，股东事先准备发言的，应当先向会议 秘书处登记。股东不得无故中断会议议程要求发言。在议案审议 过程中，股东临时要求发言或就有关问题提出质询的，须向会议 秘书处申请，并经会议主持人许可，始得发言或提出问题。股东 发言或提问应围绕本次会议议题进行，且简明扼要。 五、公司本次股东会采用现场投票与网络投票相结合的方式 召开。现场会议采用记名投票方式进行表决，各项表决案在同一 张表决票上分别列出，请股东逐项填写，未填、多填、字迹无法 — 2 — 辨认、没有股东名称、没有投票人签名或未投票的，视为该股东 放弃表决权利；此外，公司将通过上海证券交易所交易系统向股 东提供网络形式的投票平台，参加网络投票的股东应按照公司会 议通知中的《投资者参加网络投票的操作流程》进行投票。 山东钢铁股份有限公司 2025 年第二次临时股东会须知 （2025 年 9 月 12 日） 为了维护全体股东的合法权益，确保股东会的正常秩序和议 事效率，保证公司 2025 年第二次临时股东会的顺利进行，根据 《上市公司股东会规则》《公司章程 ...

Group 1: Economic Transition - The Chinese economy is shifting from a resource-driven growth model to an innovation-driven one, reflecting a structural change in the economy [1] - The integration of new and traditional economies is forming a more robust growth structure [1] Group 2: AI Industry Performance - The AI sector has become a strong market driver, with significant performance growth rooted in actual earnings rather than mere expectations [2] - The computer, electronics, and communication industries reported substantial net profit increases, with respective growth rates of 40.54%, 27.57%, and 7.81% [2] - AI chip leader Cambricon Technologies saw a revenue surge of 4347.82% year-on-year, reaching 2.881 billion yuan, and turned a profit of 1.038 billion yuan after a loss in the previous year [2] Group 3: Traditional Industry Recovery - The "anti-involution" policy has revitalized traditional industries, leading to profit recovery across various sectors [4] - The steel and agriculture sectors reported net profits of 13.137 billion yuan and 27.411 billion yuan, with year-on-year growth rates of 157.17% and 166.72% respectively [4] - Shandong Steel achieved a revenue of 36.806 billion yuan, a year-on-year increase of 118.60%, and turned a profit of 12.5258 million yuan [4] Group 4: Market Signals and Future Outlook - Companies are providing positive signals for future performance, with medical device company Mindray Medical projecting revenue growth in Q3 2025 [7] - Mindray anticipates overall revenue growth and improved performance in both domestic and international markets [7] - Lixun Precision is expected to report a net profit of 10.89 billion to 11.344 billion yuan for the first three quarters of 2025, reflecting a year-on-year increase of 20% to 25% [8]

Group 1 - The core point of the article is the significant leadership change at Shandong Steel amid the deep adjustment of the Chinese steel industry and accelerated state-owned enterprise integration [1][4][6] - Chairman Jie Qi resigned on August 26, 2025, due to work adjustments, with his term originally set to end in July 2027 [2][4] - Mao Zhanhong, an executive from the "Baowu system," has been nominated to succeed Jie Qi, indicating a strategic shift towards deeper integration with Baowu Steel [4][5] Group 2 - The leadership change occurs during a critical period as China Baowu Group strategically invests in Shandong Steel Group, enhancing the "dual-shareholder" model [4][5] - The "dual-shareholder" model aims to leverage Baowu's management experience, procurement systems, technical capabilities, and sales channels to improve Shandong Steel's cost efficiency and structural upgrades [5] - In the first half of 2025, Shandong Steel reported revenue of 36.806 billion yuan and a profit of 29.2 million yuan, successfully turning a profit [5][6] Group 3 - The steel industry is currently facing challenges such as price fluctuations, high raw material costs, and weak international demand, complicating profitability for steel companies [5][6] - Mao Zhanhong's primary challenge will be to effectively translate Baowu's advantages into cost benefits for Shandong Steel while improving financial metrics and market positioning [5][6] - The timing of the leadership change signals a shift from "passive collaboration" to "active integration," which is a focal point for industry observers [6]

证券代码：600022 证券简称：山东钢铁 山东钢铁股份有限公司投资者关系活动记录表 编号：2025-004 投资者关系活 动类别 特定对象调研 分析师会议 媒体采访 业绩说明会 新闻发布会 路演活动 现场参观 其他 参与机构名称 参与山东钢铁 2025 年半年度业绩说明会的投资者 时间 2025 年 08 月 27 日（星期三） 16:00-17:00 地点 上海证券交易所上证路演中心 （https://roadshow.sseinfo.com/） 上市公司接待 人员姓名 董事、总经理李洪建先生，独立董事王爱国先生，副总 经理、财务负责人、董事会秘书唐邦秀先生。 投资者关系活 动主要内容介 绍 问题 1：请问贵司领导班子对市值管理有具体方案 或可执行计划吗？ 回答：为切实提升公司价值创造能力，促进公司稳 健运行、高质量发展，增强投资者回报，公司已于 4 月 30 日发布《2025 年度估值提升计划暨提质增效重回报行 动方案》，并将继续坚持生产经营和资本运营"双轮驱 动"，系统思考、综合施策、标本兼治，建立稳固高效 的市值管理长效机制。 问题 2：面对上半年国内钢铁行业复杂的市场环境， 比如原材料价格波动、下 ...

Core Viewpoint - The recent personnel changes at Shandong Steel, particularly the resignation of Chairman Jie Qi and the nomination of Mao Zhanhong as his successor, highlight the ongoing integration efforts with China Baowu Steel Group, amidst a significant restructuring wave in the Chinese steel industry [1][3][5]. Company Overview - Shandong Steel's stock price is reported at 1.51 yuan, with a market capitalization of 16.155 billion yuan [1]. - The company has been undergoing a transformation, with a focus on enhancing operational efficiency and profitability through collaboration with China Baowu [9][10]. Personnel Changes - Jie Qi resigned from his positions due to work adjustments, with Mao Zhanhong being nominated as a candidate for the board of directors and potentially the new chairman [4][5]. - Mao Zhanhong has a strong background within the "Baowu system," having held various significant roles in the steel industry, which positions him well to lead Shandong Steel [6][11]. Strategic Integration - The integration between China Baowu and Shandong Steel has entered a critical phase, with the "two-participation" model facilitating deeper collaboration [7][8]. - This model aims to enhance management, technology, procurement, sales, and research synergies, injecting new growth momentum into Shandong Steel [9]. Financial Performance - In the first half of 2025, Shandong Steel reported revenues of 36.806 billion yuan and a profit of 292 million yuan, marking a significant turnaround from previous losses [9]. - The company has seen improvements in operational metrics, with notable increases in profit margins at its various production bases [9][10]. Future Outlook - Mao Zhanhong's leadership is expected to focus on furthering the integration with China Baowu and enhancing Shandong Steel's competitive position in a challenging market [11]. - The company aims to continue improving its operational performance and create additional value within the China Baowu ecosystem, although there are currently no plans for capital cooperation with other subsidiaries [10].

Core Insights - Jinan Steel Group plans to construct a "Heavy-Lift Rocket Headquarters and Assembly Manufacturing Base" in the Jinan Lingang Economic Development Zone, marking a significant advancement in the rocket assembly sector following the establishment of a satellite assembly base [1][2] - The project will cover a total construction area of 50,854.42 square meters and is designed by the China Aviation Planning and Design Institute [1] Project Details - The project includes three main buildings: - Rocket Assembly Testing Plant with a height of 18.35 meters and a floor area of 59,986.38 square meters - Power Station with a height of 8.35 meters and a floor area of 1,620.55 square meters - Component Manufacturing Plant with a height of 15.35 meters and a floor area of 23,888.45 square meters [2] - Jinan Steel Group has previously collaborated with Deep Blue Aerospace to establish the Deep Blue Jinan Changqing Testing Base, focusing on rocket engine and power system testing [2] Industry Context - The aerospace information industry in Jinan is expanding, with 148 companies in the sector generating a revenue of 13.379 billion yuan in the first half of the year, including 57 large-scale enterprises [2] - The establishment of the new manufacturing base is expected to enhance Jinan's industrial layout in the aerospace sector and inject new momentum into the development of the aerospace information industry [2]

Core Viewpoint - The integration between China Baowu Steel Group and Shandong Steel Group is progressing well, with leadership changes aimed at enhancing collaboration and efficiency [1][2]. Group 1: Leadership Changes - Jie Qi, the first general manager sent by China Baowu to Shandong Steel, resigned from his position on August 25, and subsequently from the board of Shandong Steel [1]. - Mao Zhanhong has been nominated to replace Jie Qi as the chairman of Shandong Steel, pending shareholder approval [1]. - Mao Zhanhong has extensive experience in steel production management and has previously held significant positions within Baowu and its subsidiaries [3]. Group 2: Strategic Collaboration - Since the strategic investment by China Baowu in Shandong Steel at the end of 2023, both companies have accelerated their integration efforts [2]. - Shandong Steel has achieved a turnaround, reporting a profit in the first half of the year, and has reduced losses by 2.086 billion yuan from January to July 2024 [2]. - The focus is on leveraging Baowu's resources and policies to enhance operational efficiency and competitiveness [2]. Group 3: Future Directions - Mao Zhanhong aims to combine Baowu's advantages in systems, technology, and management with Shandong Steel's regional and resource strengths to improve the company's industry ranking [4]. - The leadership emphasizes the importance of strategic collaboration to enhance overall competitiveness in the market [4].

Group 1 - The core point of the article revolves around the significant personnel changes at Shandong Steel, particularly the resignation of Chairman Xie Qi and the nomination of Mao Zhanhong as his successor, amidst the backdrop of deep integration with China Baowu Steel Group [1][2][4] - The resignation of Xie Qi is seen as a strategic move as Shandong Steel is undergoing a critical phase of transformation and integration with Baowu, which has invested in Shandong Steel and is looking to enhance operational synergies [2][4][6] - Mao Zhanhong's extensive experience within the Baowu system positions him as a key figure to drive the integration process and leverage Baowu's management and operational advantages to improve Shandong Steel's performance [3][8][11] Group 2 - The integration between Baowu and Shandong Steel has entered a "deep water zone," with Baowu holding a 49% stake in Shandong Steel and actively collaborating on various operational fronts [4][5][6] - The collaborative model aims to enhance efficiency through management, technology, procurement, and sales synergies, which has already shown positive results, including a significant reduction in costs exceeding 200 million yuan [6][7] - Shandong Steel reported a turnaround in its financial performance for the first half of 2025, achieving a revenue of 36.806 billion yuan and a net profit of 12.5258 million yuan, marking a substantial improvement compared to the previous year [6][7] Group 3 - Mao Zhanhong's appointment is expected to focus on "collaborative breakthroughs" as he aims to enhance Shandong Steel's capabilities in a competitive market [8][9] - The steel industry is currently facing challenges, including a downward cycle characterized by excess supply and weak demand, which poses a significant challenge for Shandong Steel to maintain its profitability [10][11] - The recent passing of Zhang Runsheng, who played a crucial role in the company's strategic initiatives, adds pressure on Mao Zhanhong to build upon the foundation laid by his predecessor and navigate the ongoing industry transformation [10][11]

Core Viewpoint - Shandong Steel announced the approval of multiple proposals, including the addition of new directors to its eighth board of directors during the fifteenth meeting [2] Group 1 - The eighth board of directors of Shandong Steel held its fifteenth meeting on August 26 [2] - The board approved the proposal to supplement the board of directors [2]

Group 1 - The leadership meeting of Shandong Steel Group announced the decision regarding personnel changes by the Shandong Provincial Party Committee [1] - Mao Zhanhong has been appointed as the Party Committee member, Standing Committee member, Deputy Secretary, Director, and General Manager of Shandong Steel Group [1] - Ge Qi is no longer serving as the Deputy Secretary, Standing Committee member, Committee member, Director, and General Manager of Shandong Steel Group [1] - Mao Zhanhong previously held the position of General Manager and Deputy Secretary of Maanshan Steel Group [1]