证券代码：600117 证券简称：西宁特钢 编号：临 2025-050 西宁特殊钢股份有限公司 关于公司股票交易异常波动的公告 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。 重要提示 西宁特殊钢股份有限公司（以下简称"公司"或"西宁特钢"） 股票于 2025 年 7 月 18 日、7 月 21 日、7 月 22 日连续三个交易日内日 收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》 的相关规定，属于股票交易异常波动。 经公司自查，并书面征询控股股东天津建龙钢铁实业有限公司及 实际控制人进行核实，截至本公告披露日，控股股东及实际控制人均不 存在应披露而未披露的重大信息。 一、股票交易异常波动的具体情况 西宁特钢股票于 2025 年 7 月 18 日、7 月 21 日、7 月 22 日连续三 个交易日内日收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易 所交易规则》的相关规定，属于股票交易异常波动。 二、公司关注并核实的相关情况 针对本次股票交易异常波动的情况，公司董事会对公司、控股股东 及实际控制人就 ...

Market Overview - The A-share market showed slight gains with the Shanghai Composite Index up 0.25% to 3568.78 points, the Shenzhen Component Index up 0.56% to 11069.57 points, and the ChiNext Index up 0.69% to 2312.74 points [1] - The total trading volume in the Shanghai and Shenzhen markets exceeded 1.14 trillion yuan, an increase of 513 billion yuan compared to the previous trading day [3] Sector Performance - The infrastructure sector experienced a significant rally, with key sectors such as precious metals and construction leading the gains in A-shares [3] - The concept stocks related to the Yajiang Hydropower Station and water conservancy construction continued to perform strongly, with notable increases in stock prices [4][5] - Steel stocks also saw widespread gains, with companies like Xining Special Steel and Yinlong Co. hitting the daily limit [10] Notable Stocks - Yajiang Hydropower Station concept stocks surged, with Wuxin Tunnel Equipment hitting a 30% limit up for two consecutive trading days, bringing its market capitalization to over 7.4 billion yuan [5][7] - Semiconductor company SMIC saw a 3.28% increase in its stock price, leading the Hang Seng Index constituents [9] - Other notable gainers included Iron Construction Heavy Industry and Zhukang Design, both of which saw their stock prices rise by over 20% [13] Policy and Regulatory Updates - The Ministry of Human Resources and Social Security announced plans to advance national coordination of pension insurance and reform measures related to personal pension policies [14]

Core Viewpoint - The article highlights the strong performance of the Yajiang Hydropower Station concept stocks and the short-term rise of CATL's A and H shares, indicating a bullish sentiment in the market [1][12]. Market Overview - On July 22, the A-share market saw a slight increase, with the Shanghai Composite Index rising by 0.25% to 3568.78 points, the Shenzhen Component Index up by 0.56% to 11069.57 points, and the ChiNext Index increasing by 0.69% to 2312.74 points [1]. - The total trading volume in the Shanghai and Shenzhen markets exceeded 1.14 trillion yuan, an increase of 513 billion yuan compared to the previous trading day [4]. Sector Performance - The infrastructure sector experienced a significant rally, with concepts related to hydropower construction, cement manufacturing, and large-scale infrastructure leading the gains. Notably, stocks related to the Yajiang Hydropower Station and water conservancy projects remained hot [4][5]. - Conversely, sectors such as the internet, insurance, and banking saw overall declines, with specific stocks like PEEK materials and Yushun Robotics underperforming [4]. Notable Stocks - The Yajiang Hydropower Station concept stocks saw explosive growth, with over 20 stocks hitting the daily limit up, including companies like China Power Construction and Poly United [10][11]. - CATL's A shares rose nearly 3%, accumulating over 8% in the last three days, while its H shares increased nearly 3%, with a total rise of over 14% in the same period [13]. Special Mention - The Science and Technology Innovation Board (STAR Market) celebrated its sixth anniversary, having accepted 589 companies with a total market capitalization of nearly 8 trillion yuan, showcasing its role in China's capital market reform [18].

Group 1 - The hydropower concept stocks have become active again, with companies such as Xining Special Steel (600117), Poly United (002037), Gaozheng Mining Explosion (002827), Huaxin Cement (600801), and Subote (603916) achieving two consecutive trading limit ups [1] - There is a notable shift in "smart money" flow, indicating that dark pool funds are uncovering the main players' trading strategies [1]

Market Overview - The Shanghai Composite Index increased by 0.42% as of 10:28 AM, with a trading volume of 652.87 million shares and a transaction value of 801.59 billion yuan, representing a 0.66% increase compared to the previous trading day [1]. Industry Performance - The top-performing sectors included: - Steel: Up by 3.99%, with a transaction value of 112.45 billion yuan, led by Xining Special Steel, which rose by 10.21% [1]. - Building Materials: Up by 3.87%, with a transaction value of 137.82 billion yuan, led by Qingsong Building Materials, which increased by 10.08% [1]. - Building Decoration: Up by 3.40%, with a transaction value of 213.32 billion yuan, led by Zhongshe Consulting, which surged by 25.97% [1]. - The sectors with the largest declines included: - Communication: Down by 0.64%, with a transaction value of 350.21 billion yuan, led by *ST Gaohong, which fell by 4.86% [2]. - Banking: Down by 0.61%, with a transaction value of 127.00 billion yuan, led by Qilu Bank, which decreased by 1.91% [2]. - Comprehensive: Down by 0.57%, with a transaction value of 18.29 billion yuan, led by Dongyangguang, which dropped by 4.81% [2]. Summary of Key Industries - Basic Chemicals: Increased by 1.72%, with a transaction value of 504.67 billion yuan, led by Shangwei New Materials, which rose by 19.99% [1]. - Non-ferrous Metals: Increased by 1.46%, with a transaction value of 517.56 billion yuan, led by Shenghe Resources, which rose by 9.98% [1]. - Electric Power Equipment: Increased by 1.40%, with a transaction value of 713.05 billion yuan, led by Ankao Zhidian, which rose by 19.99% [1].

Core Viewpoint - The steel sector is experiencing a significant rally, with several companies reaching their daily price limits, indicating strong market sentiment and potential investment opportunities [1] Industry Developments - The China Iron and Steel Association held a meeting on July 15 to discuss the "14th Five-Year Plan" for the steel industry, emphasizing the need to control capacity increases and facilitate exits from the market to prevent overcapacity risks [1] - The meeting highlighted the importance of establishing a new capacity governance mechanism to maintain a healthy competitive environment in the steel industry [1] Market Outlook - According to Minsheng Securities, policies aimed at stabilizing growth and reducing competition pressure on tail-end capacities are expected to optimize crude steel supply, leading to a potential recovery in steel companies' profitability [1] - Xinda Securities forecasts a stable improvement in the steel industry's structure, noting that some companies are currently undervalued, presenting structural investment opportunities, particularly for high-margin special steel firms and leading companies with strong cost control [1]

Core Viewpoint - The A-share market showed positive performance with major indices rising, driven by strong sectors such as hydropower, steel, and robotics, while financial sectors faced declines [1][2]. Group 1: Sector Performance - The hydropower sector experienced significant gains, with multiple stocks including China Power Construction and Tibet Tianlu hitting the daily limit [2]. - The steel sector also saw upward movement, with stocks like Xining Special Steel and Bayi Steel reaching the daily limit [1]. - The building materials and cement stocks continued their strong performance, with Huaxin Cement showing notable strength [1]. - The robotics sector was active, with stocks such as Jingxing Paper and Jinfat Technology hitting the daily limit [1]. - In contrast, the financial sector, including insurance and banking, faced declines, contributing to the overall market volatility [1]. Group 2: Institutional Insights - CITIC Securities highlighted that the new growth sectors are crucial for breaking through key index levels, suggesting a focus on mainline logic rather than worrying about index fluctuations [4]. - Zhongyin Securities pointed out that overseas expansion remains a strong performance driver, with expectations of a sector-wide rally post mid-year reporting season [5]. - Dongfang Securities noted that the market's logic of relying on dividends will continue, with long-term funds supporting sectors like banking and insurance, while tech stocks serve as supplementary opportunities [6].

证券代码：600117 证券简称：西宁特钢 编号：临 2025-049 西宁特殊钢股份有限公司 2025 年半年度业绩预告 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 （二）业绩预告情况 1.经财务部门初步测算，预计 2025 年上半年度实现归属于母公 司所有者的净利润约-2.34 亿元，与上年同期相比减少亏损约 20.28%。 2.预计 2025 年上半年度实现归属于母公司所有者的扣除非经常 性损益后的净利润约-2.47 亿元，与上年同期相比减少亏损约 14.02%。 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 担个别及连带责任。 重要内容提示： ●本期业绩预告适用情形：净利润为负值。 ●西宁特殊钢股份有限公司（以下简称"公司"）预计 2025 年 上半年度实现归属于母公司所有者的净利润约-2.34 亿元。 ●预计 2025 年上半年度实现归属于母公司所有者的扣除非经常 性损益后的净利润约-2.47 亿元。 一、本期业绩预告情况 （三）本次业绩预告未经会计师事务所审计。 二、上年同期业绩情况 ...

Core Viewpoint - After completing its restructuring, Xining Special Steel (600117.SH) has received full support from its controlling shareholder for its first refinancing, which involves a cash subscription for new shares by Tianjin Jianlong Steel Industry Co., Ltd. This move aims to strengthen Tianjin Jianlong's control over the company [1][2]. Group 1: Company Overview - Xining Special Steel is the largest special steel producer in Western China and the only one in Northwest China [1]. - The company has faced continuous losses over the years, particularly with a net loss of 15.79 billion yuan in the year following its restructuring [3]. Group 2: Financial Performance - From 2012 to 2024, Xining Special Steel has consistently reported net losses, with a significant reduction in losses observed in 2024 and the first quarter of 2025, where losses decreased by 39.41% and 19.42% respectively [3]. - In 2024, the company produced 1.2768 million tons of iron, 1.3969 million tons of steel, and 1.3571 million tons of steel products, marking increases of 90.25%, 89.17%, and 94.63% year-on-year [3]. Group 3: Capital Structure and Financial Strategy - The company plans to raise no more than 1 billion yuan through this issuance, with the net proceeds aimed at supplementing working capital [2]. - As of March 2025, Xining Special Steel reported total assets of 12.677 billion yuan and a debt-to-asset ratio of 50.15% [4]. - The issuance is expected to optimize the company's capital structure, alleviate financial pressure, and enhance its ability to withstand risks [4].

Core Viewpoint - The acquisition report outlines Tianjin Jianlong Steel Industry Co., Ltd.'s plan to acquire shares in Xining Special Steel Co., Ltd. through a private placement, aiming to strengthen its control over the company and enhance its financial stability for future growth [1][2][8]. Group 1: Acquisition Details - Tianjin Jianlong intends to acquire up to 578,034,682 shares of Xining Special Steel, which would increase its ownership from 29.96% to 40.52% post-issuance [10][11]. - The acquisition is structured as a cash subscription for shares at a price of 1.73 RMB per share, with a total investment not exceeding 1 billion RMB [13][14]. - The company has committed to not transferring the newly acquired shares for 36 months after the issuance, ensuring stability in ownership [12][9]. Group 2: Regulatory Compliance - The acquisition is subject to approval from the shareholders' meeting and must comply with the relevant regulations set forth by the China Securities Regulatory Commission and the Shanghai Stock Exchange [2][10]. - Tianjin Jianlong has received necessary authorizations and approvals to proceed with the acquisition, ensuring compliance with corporate governance standards [1][3]. Group 3: Financial Overview - Tianjin Jianlong's recent financial performance shows total assets of approximately 19.94 billion RMB and net assets of about 6.99 billion RMB as of December 31, 2024 [6][7]. - The company reported a revenue of approximately 24.24 billion RMB for the fiscal year 2024, indicating a growth trend in its core steel business [6][7]. Group 4: Strategic Intent - The acquisition aims to optimize the capital structure of Xining Special Steel and enhance its financial strength, supporting the company's strategic goal of becoming a leading special steel enterprise [8][10]. - Tianjin Jianlong has expressed confidence in the long-term investment value of Xining Special Steel, indicating a commitment to its growth and development [8][9]. Group 5: Independence and Competition - The acquisition will not alter the actual control of Xining Special Steel, maintaining its operational independence in terms of assets, personnel, and business [18][19]. - Tianjin Jianlong has committed to avoiding any substantial competition with Xining Special Steel by managing overlapping business areas effectively [19][22].