Investment Rating - The report maintains a "Positive" investment rating for the steel industry, indicating a favorable outlook for mid-term investment opportunities [6]. Core Insights - The steel industry is expected to experience high-quality and high-return development, driven by the "anti-involution" policy, which is anticipated to catalyze production cuts and stabilize steel prices, thereby enhancing profit margins for steel companies [9][21]. - The supply-side structural issues are likely to reverse, leading to a balanced supply-demand scenario that can stabilize industry profits [9][23]. - A significant oversupply of iron ore is expected in the mid-term, with a projected increase in supply outpacing demand, which will likely lead to a decline in iron ore prices and subsequently enhance profitability for steel companies [9][19]. Summary by Sections Introduction - The "anti-involution" policy was officially introduced in July 2024, aiming to prevent vicious competition in the steel industry, which has been significantly affected by declining demand and overcapacity [13][21]. Supply-Side Structural Issues - The report highlights that the ultra-low emission transformation in the steel industry is nearing completion, with over 76% of total capacity having undergone some form of transformation by July 2025 [30][32]. - The report anticipates that the completion of these transformations will help eliminate the "bad money drives out good" phenomenon, leading to a more equitable competitive environment [33][41]. Iron Ore Supply and Demand - The report forecasts a strong oversupply of iron ore, with supply growth expected to exceed 5% annually until 2026, while demand is projected to grow only modestly [9][19]. - This oversupply is expected to lead to a significant decline in iron ore prices, which will enhance the profitability of steel manufacturers [9][19]. Dividend Potential - The report suggests that with reduced capital expenditures and stable profits, steel companies are likely to increase their dividend payouts, indicating a shift towards high-quality, high-return development in the industry [9][24]. Investment Recommendations - The report recommends focusing on steel companies with high gross profit elasticity, such as Shandong Steel and others, for short-term investments, while suggesting long-term investments in companies with stable dividend levels like Baosteel and Hualing Steel [9][24].

相关上市企业：山东钢铁（600022）、重庆钢铁（601005）、鞍钢股份（000898）、武钢股份 （600005）、宝钢股份（600019）、沙钢股份（002075）、华菱钢铁（000932）、南钢股份 （600282）、中国船舶（600150）、中国重工（601989）、中船防务（600685）等。 相关企业：湖北立晋钢铁集团有限公司、河北吉泰特钢集团有限公司、宿迁南钢金鑫轧钢有限公司、常 熟市龙腾特种钢有限公司、上海临津工贸有限公司、山东东启金属材料有限公司等。 内容概要：球扁钢作为一种特殊形状的钢材，具有高强度、耐腐蚀、耐磨损等优良特性。这些特性使得 球扁钢在众多领域都有广泛的应用，尤其在造船业中，船用球扁钢是不可或缺的辅助中型材。随着近年 来造船业的飞速发展，船用球扁钢的需求量也呈现出爆发式增长。此外，球扁钢在建筑、机械等领域也 有广泛应用，这些行业的快速发展为球扁钢市场提供了广阔的空间，进而带动产量持续上涨。另外，新 的工艺和设备的应用，以及先进的生产管理模式，都有助于提高球扁钢的生产效率和质量。数据显示， 2019年中国球扁钢行业产量达到40万吨，到了2024年行业产量增长至78.62万吨，年 ...

Core Insights - The steel industry in Rizhao is rapidly advancing towards the high-end global value chain, with significant technological breakthroughs and a projected output value of 194.55 billion yuan in 2024, accounting for nearly half of the city's industrial output [1] High-end Breakthroughs - Rizhao Steel Holding Group has achieved a significant milestone with its ESP technology, producing steel with thickness precision from 0.6 to 6.0 mm and strength ranging from 200 to 1500 MPa, which is utilized in major projects like the Three Gorges Dam and Hong Kong-Zhuhai-Macao Bridge [2] - Shandong Steel Rizhao's innovations include the successful application of hot-rolled pipeline steel in extreme cold conditions and the production of ultra-thick hot-rolled coils, revolutionizing the steel structure sector [2] Intelligent Empowerment - The integration of AI and digital technologies has transformed steel production processes, with Shandong Steel Rizhao developing AI machine vision for automatic steel transfer, significantly enhancing efficiency [3] - Rizhao Steel has reduced the quality verification time for its products from 48 hours to 30 minutes through its "digital steel coil" technology, streamlining production and improving product quality [3] Green Development - The steel industry in Rizhao is committed to green and low-carbon development, with Shandong Steel Rizhao investing over 8.4 billion yuan in environmental protection, achieving leading energy consumption and zero wastewater discharge [5] - Rizhao Steel's ESP technology has led to a reduction of over 70% in energy consumption and 80% in carbon dioxide emissions compared to traditional processes, setting a benchmark in the industry [5] Industrial Cluster Development - The Rizhao steel industry is positioned as a key driver for industrial transformation, aiming to create a world-class coastal advanced steel manufacturing base with a capacity of 40 million tons [6] - A specialized industrial park covering 36.4 square kilometers has been established, fostering a comprehensive industrial ecosystem that includes upstream operations, raw material processing, and downstream manufacturing [6]

截至2025年8月1日收盘，山东钢铁(600022)报收于1.53元，上涨0.66%，换手率0.61%，成交量65.73万 手，成交额1.0亿元。 董秘最新回复 投资者： 近两年不在分红了么？ 董秘： 感谢您对我公司的关注。公司自上市以来已累计分红34.74亿元。近年受行业周期性低谷、原料 价格高位运行及需求疲软等因素影响，公司经营业绩承压，累计未分配利润为负数，暂不具备分红条 件。公司始终坚持积极的分红政策，2024年，专门对公司章程进行了修订，将其中"公司最近三年以现 金方式累计分配的利润不少于最近三年实现的年均可分配利润的百分之三十"的分红条款修订为"公司原 则上每年进行一次现金分红，以现金方式分配的利润原则上不低于弥补亏损和提取盈余公积后所余税后 利润的百分之五十"。2025年以来，公司持续强化价值创造及算账经营，加速变革求生，预计上半年度 利润总额2.93亿元左右，同比增利约13.54亿元；归母净利润1271万元左右，实现扭亏为盈，同比增利约 9.81亿元；经营业绩大幅改善，持续向好。后续具备分红条件时，将严格按照规定进行分红，积极回报 股东。 投资者： 尊敬的公司管理层：公司在铁矿石采购中推行人民 ...

专利摘要显示，本发明涉及焦炉红外线测温技术领域，具体涉及一种红外线测温镜头吹扫装置及吹扫方 法。本发明装置中机侧吹扫支管输出端连接机侧连接管的输入端，机侧连接管的输出端设置于可对机侧 红外线测温镜头表面喷吹的位置，机侧连接管内壁上安装有机侧孔板，在机侧吹扫管道内气流运动方向 上，机侧孔板的孔径递增率与机侧吹扫管道内压降呈反比关系；焦侧吹扫支管输出端连接焦侧连接管的 输入端，焦侧连接管的输出端设置于可对焦侧红外线测温镜头表面喷吹的位置，焦侧连接管上内壁上安 装有焦侧孔板，在焦侧吹扫管道内气流运动方向上，焦侧孔板的孔径递增率与焦侧吹扫管道内压降呈反 比关系。 天眼查资料显示，山东钢铁集团日照有限公司，成立于2009年，位于日照市，是一家以从事黑色金属冶 炼和压延加工业为主的企业。企业注册资本392698.355万人民币。通过天眼查大数据分析，山东钢铁集 团日照有限公司共对外投资了4家企业，参与招投标项目5000次，财产线索方面有商标信息4条，专利信 息1226条，此外企业还拥有行政许可52个。 金融界2025年8月2日消息，国家知识产权局信息显示，山东钢铁集团日照有限公司申请一项名为"一种 红外线测温镜头吹扫装置 ...

Group 1 - The board of directors of Shandong Steel Co., Ltd. held its 13th meeting of the 8th session on August 1, 2025, with all 8 directors present [1] - The board approved the appointment of Mr. Li Hongjian as the general manager, with a unanimous vote of 8 in favor [1] - The board also approved a proposal to integrate the operations of the coking plant and the iron-making plant, resulting in the closure of the coking plant to reduce costs [2] Group 2 - Mr. Li Hongjian, born in November 1972, has extensive experience in the steel industry, having held various leadership positions within Shandong Steel and its subsidiaries [3] - His educational background includes a degree in steel metallurgy from Anshan Steel School and a graduate degree from the Party School [3]

Group 1 - The company announced the appointment of a new general manager during the 13th meeting of the 8th board of directors [2] - The company approved a proposal for the transformation of integrated iron and coke operations, which includes the closure of the coking plant [2]

股票简称：山东钢铁 证券代码：600022 编号：2025-038 山东钢铁股份有限公司 第八届董事会第十三次会议决议公告 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、准确和完整承担个别及连带责任。 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 2025 年 7 月 29 日以电子邮件和直接 送达的方式发出。 二、董事会会议审议情况 本次会议审议并通过了以下两项议案： （一）关于聘任公司总经理的议案 经公司董事长提名，董事会提名委员会对李洪建先生（简历见附 件）进行资格审查并征求其同意，聘任李洪建先生担任公司总经理， 任期与本届董事会一致。 表决结果：同意 8 票，反对 0 票，弃权 0 票。 （二）关于焦铁一体化运行变革暨撤销焦化厂的议案 为进一步统筹生铁成本的降低，聚焦铁前协同降本，按照"集中 一贯、机构精简、流程高效、职责清晰"的原则，推进焦、铁工序一 — 1 — （三）本次董事会会议于 2025 年 8 月 1 日以通讯方式召开。 （四）本次董事会会 ...

格隆汇8月1日丨山东钢铁(600022.SH)公布，为进一步统筹生铁成本的降低，聚焦铁前协同降本，按 照"集中一贯、机构精简、流程高效、职责清晰"的原则，推进焦、铁工序一体化运行，拟将焦化厂全部 业务、岗位人员整体划转至炼铁厂，焦化厂撤销。 ...

二是高端产品供给文章。支持链上企业建设国家级技术中心、院士工作站等高能级技术创新平台，协同 科技等相关部门，灵活采用"揭榜制""赛马制""组阁制"等方式，突破关键核心技术壁垒，提升日照钢铁 产业技术实力与市场竞争力。按照"增厚、压薄、加料、涂层"思路，持续引导高校、企业、科研院所间 的产学研合作，围绕下游用钢领域，加大研发力度，优化产品结构，进一步提升高端产品研发和转化应 用能力。持续推进数字经济加速倍增行动，推动企业实施智能化升级改造，培育建设具有行业先进水平 的数字车间、智能工厂和工业互联网平台。 三是绿色低碳发展文章。聚焦"双碳"战略，统筹政府、企业和学校各方优势资源，加快研发应用碳捕 集、利用与封存等节能低碳技术。完善绿色制造国家、省、市三级梯度培育机制，引导绿色园区、工厂 全面提高能源资源利用效率和清洁生产水平。 作为基础性支柱型产业，钢铁产业的绿色低碳高质量发展是日照市工业转型升级的关键引擎。作为钢铁 产业发展的主管部门，市工业和信息化局将认真落实市委、市政府部署要求，全力做好三篇文章，持续 推动日照钢铁产业提质增效、扩能升级。 一是延链补链强链文章。首先要做强钢铁主业。支持山钢日照公司、日钢集团 ...