证券代码：600282 证券简称：南钢股份 公告编号：临 2025-033 南京钢铁股份有限公司 关于全资子公司竞拍取得探矿权的进展公告 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。 一、竞拍情况 为进一步增强"高效率、低成本、智能制造"竞争力，南京钢铁股份有限公司（以 下简称"公司"）积极构建产业链生态。公司全资子公司安徽金安矿业有限公司（以下 简称"金安矿业"）积极寻求优化产业链布局、提升资源整合能力。 2025年5月12日，金安矿业以人民币92,036.77万元竞得安徽省霍邱县范桥铁矿勘 探（探矿权保留）探矿权；同日，金安矿业与安徽省产权交易中心有限责任公司签订《竞 价结果通知单》。 具体内容详见公司于2025年5月13日刊载于《中国证券报》《上海证券报》《证券 时报》及上海证券交易所网站（http://www.sse.com.cn/）的《南京钢铁股份有限公司 关于全资子公司竞拍取得探矿权的公告》（公告编号：临2025-029）。 二、本次交易的进展情况 2025年5月13日，自然资源部门户网（http://www.m ...

Investment Rating - The report maintains an investment rating of "Positive" for the steel industry, consistent with the previous rating [2]. Core Viewpoints - The overall profit from blast furnace steel production is considered satisfactory, and the profit recovery for general steel companies may accelerate [3]. - Despite facing supply-demand contradictions, the steel industry's overall profit is expected to decline, but with the implementation of various "stability growth" policies, steel demand is anticipated to remain stable or slightly increase [4]. - The report highlights that general steel companies, which are less affected by export tariffs, may see significant performance improvements due to the marginal recovery in demand from the real estate and infrastructure sectors [4]. Summary by Sections 1. Market Performance - The steel sector declined by 0.94% this week, underperforming the broader market, with specific declines in special steel (0.28%), long products (0.36%), and flat products (1.21%) [3][11]. 2. Supply Data - As of May 23, the average daily pig iron production was 2.436 million tons, a week-on-week decrease of 1.17 tons, but a year-on-year increase of 6.71 tons [28]. - The capacity utilization rate for blast furnaces was 91.3%, down 0.44 percentage points week-on-week, while electric furnace utilization increased by 2.93 percentage points to 59.5% [28]. 3. Demand Data - The consumption of five major steel products was 9.046 million tons, a week-on-week decrease of 92,000 tons, reflecting a 1.01% decline [37]. - The transaction volume of construction steel by mainstream traders was 95,000 tons, down 1.47 tons week-on-week, marking a 13.33% decrease [37]. 4. Inventory Data - Social inventory of five major steel products was 9.606 million tons, a week-on-week decrease of 331,000 tons, or 3.33% [45]. - Factory inventory increased slightly to 4.38 million tons, up 0.99 tons week-on-week, but down 6.67% year-on-year [45]. 5. Price Trends - The comprehensive index for general steel was 3,452.2 yuan/ton, down 33.36 yuan/ton week-on-week, a decrease of 0.96% [51]. - The comprehensive index for special steel was 6,652.6 yuan/ton, down 3.32 yuan/ton week-on-week, a decrease of 0.05% [51]. 6. Profitability - The profit for rebar from blast furnaces was 88 yuan/ton, down 15 yuan/ton week-on-week, a decline of 14.56% [59]. - The average profit margin for 247 steel companies was 59.74%, an increase of 0.4 percentage points week-on-week [59]. 7. Investment Recommendations - The report suggests focusing on regional leading companies with advanced equipment and environmental standards, as well as companies benefiting from the new energy cycle and those with strong cost control [4].

Investment Rating - The report maintains a "Buy" rating for several steel companies including Baosteel, Hualing Steel, and Nanjing Steel, among others [5]. Core Viewpoints - The report indicates that pig iron prices are gradually declining, leading to a slight recovery in steel profits. The raw material costs are expected to ease further, which may enhance the profitability of steel companies [5]. - Economic data from January to April shows a continued weakness in the real estate sector, while automotive production maintains year-on-year growth. The potential for crude steel production regulation is increasing amid uncertain external demand and weak domestic recovery [5]. Price Trends - As of May 23, steel prices have decreased, with Shanghai's 20mm HRB400 rebar priced at 3160 CNY/ton, down 40 CNY/ton from the previous week. Other steel products also saw price declines [3][11]. - The report details specific price changes for various steel products, indicating a general downward trend in prices over the past week [12]. Production and Inventory - As of May 23, the production of five major steel products increased to 8.72 million tons, a rise of 40,900 tons week-on-week. However, the total inventory of these products decreased by 331,000 tons to 9.5954 million tons [4]. - The apparent consumption of rebar is estimated at 2.4713 million tons, reflecting a decrease of 131,600 tons week-on-week [4]. Profitability Analysis - The report notes an increase in profits for plate products, with long-process rebar, hot-rolled, and cold-rolled margins changing by 0 CNY/ton, +23 CNY/ton, and +69 CNY/ton respectively compared to the previous week [3]. Investment Recommendations - The report recommends several companies for investment: 1. General steel sector: Baosteel, Hualing Steel, Nanjing Steel 2. Special steel sector: CITIC Special Steel, Yongjin Co., and Xianglou New Materials 3. Pipe materials: Jiuli Special Materials, Wujin Stainless Steel, Youfa Group - It also suggests paying attention to high-temperature alloy stocks like Fushun Special Steel [5].

被担保人：湖南复星合力新材料有限公司（以下简称"湖南合力"），PT. KinRui New Energy Technologies Indonesia（中文名称：印尼金瑞新能源科技有限 责任公司 ，以下简称"金瑞新能源"）。 本次担保金额及已实际为其提供的担保余额：南京钢铁股份有限公司（以下 简称"公司"，含子公司）控股子公司安阳复星合力新材料股份有限公司（以下简 称"安阳合力"）为其控股子公司湖南合力提供总额度不超过1,020万元的担保；公 司为控股子公司金瑞新能源提供总额度不超过57,600万元的担保。公司2025年已实 际为湖南合力提供的新增担保额度为0万元，为湖南合力提供的担保余额为1.58亿元 （含存续）；公司2025年已实际为金瑞新能源提供的新增担保额度为72,735.20万 元，为金瑞新能源提供的担保余额为16.49亿元（含存续）。前述担保余额不含本次 担保。 截至本公告出具日，公司无逾期担保的情形。 证券代码：600282 证券简称：南钢股份 公告编号：临2025-032 南京钢铁股份有限公司 关于对外提供担保的进展公告 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 ...

Investment Rating - The report maintains a "Buy" rating for the steel industry, suggesting a positive outlook for the sector [4]. Core Insights - The crude steel production in April 2025 remained flat year-on-year at 86.02 million tons, with a daily average production of 2.867 million tons, reflecting a month-on-month decrease of 4.3% [2][7]. - The steel industry's profitability has improved, with the profit ratio of steel mills rising to 59.3% as of May 16, 2025, driven by falling raw material prices [2]. - The net financing of local government bonds reached 528.1 billion yuan in April 2025, indicating a significant increase in fiscal spending, which is expected to support demand in the steel sector [2][3]. - The apparent consumption of steel in April 2025 was 76.08 million tons, slightly down by 1.7% year-on-year, influenced by uncertainties from US-China tariff disputes [2][3]. Summary by Sections Production and Consumption - In April 2025, the production of pig iron was 72.58 million tons, up 0.7% year-on-year, while steel production increased by 6.6% to 125.09 million tons [7]. - The manufacturing purchasing managers' index (PMI) was at 49.0%, indicating a slight contraction, while the non-manufacturing PMI remained in the expansion zone at 50.4% [2]. Export and Import Dynamics - Steel exports in April 2025 reached 9.94 million tons, a year-on-year increase of 16%, benefiting from price advantages [3][7]. - Iron ore imports rose by 1.3% year-on-year to 103.14 million tons in April 2025, although overall iron ore imports for the first four months decreased by 5.5% [7]. Policy and Economic Outlook - The Central Political Bureau emphasized the need for proactive macroeconomic policies, including increased fiscal spending and monetary easing to support the economy [3]. - The report suggests that with the anticipated improvement in demand and supply-side adjustments, the long-term fundamentals of the steel industry are expected to improve [3]. Investment Recommendations - The report recommends stocks such as Hualing Steel, Nanjing Steel, Baosteel, and others, highlighting their potential benefits from the current economic conditions and demand recovery [8][9].

南京钢铁股份有限公司 关于公司监事辞职的公告 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。 证券代码：600282 证券简称：南钢股份 公告编号：临 2025-031 特此公告 南京钢铁股份有限公司监事会 南京钢铁股份有限公司（以下简称"公司"）监事会于2025年5月19日收到公司股 东代表监事吴斐先生递交的书面辞职报告。吴斐先生原定任期至2027年1月29日，因工 作变动，申请辞去公司监事职务。吴斐先生辞职后不在公司担任其他职务。 二〇二五年五月二十日 根据《中华人民共和国公司法》及《南京钢铁股份有限公司章程》等有关规定，吴 斐先生的辞职不会导致公司监事会成员低于法定最低人数，不会影响公司监事会的正常 运行，其辞职报告自送达公司监事会之日起生效。 公司及公司监事会对吴斐先生任职期间所做的贡献表示衷心感谢！ 截至本公告出具之日，吴斐先生持有公司股份20,000股，不存在未履行完毕的公开 承诺。 ...

Investment Rating - The report maintains a "Positive" investment rating for the non-ferrous and steel industry [5]. Core Viewpoints - The report emphasizes the importance of closely monitoring investment opportunities in strategic metals such as rare earths, especially following significant price increases in overseas markets due to China's export controls [8][13]. - In the steel sector, there has been a notable increase in rebar consumption and a slight rise in overall steel prices, indicating a positive trend in demand [14][38]. Summary by Sections 1. Core Viewpoints: Focus on Strategic Metals - The report highlights the strategic importance of rare earth metals, particularly in light of recent U.S.-China trade discussions that aim to reduce tariffs, which could enhance global economic recovery [8][13]. - Following China's export restrictions on heavy rare earths, overseas prices have surged, with dysprosium and terbium prices in Europe increasing nearly threefold [8][13]. 2. Steel Sector: Price Trends - Rebar consumption has risen significantly, with a reported consumption of 2.6 million tons, marking a 21.69% increase week-on-week [14][18]. - The overall steel price index has seen a slight increase of 0.92%, with hot-rolled coil prices rising to 3,320 CNY/ton, a 1.40% increase, and cold-rolled prices at 3,767 CNY/ton, a 1.31% increase [14][38]. 3. New Energy Metals: Supply and Price Declines - Lithium production in April 2025 was reported at 70,640 tons, a year-on-year increase of 40.38%, but with a slight month-on-month decline [15][42]. - Nickel production has seen a significant year-on-year decrease of 14.18%, while cobalt prices have shown a downward trend [15][44]. 4. Industrial Metals: Copper and Aluminum - Copper smelting fees have slightly increased, with the LME aluminum price settling at 2,474 USD/ton, reflecting a minor week-on-week rise of 0.20% [16]. - The production costs for electrolytic aluminum have decreased significantly, leading to increased profitability for producers [16][28]. 5. Precious Metals: Market Adjustments - Gold prices have experienced a notable decline of 3.72% week-on-week, attributed to reduced demand for safe-haven assets following positive developments in U.S.-China relations [17].

Investment Rating - The industry is rated as "Buy" for specific stocks and "Hold" for others, indicating a positive outlook for selected companies within the steel sector [8]. Core Insights - The report highlights a decrease in tariff uncertainty, which is expected to improve economic expectations. The U.S.-China trade tensions have entered a phase of temporary easing, although future uncertainties remain significant [2][4]. - The domestic steel production has shown signs of recovery, with a notable increase in apparent consumption of steel products, particularly rebar, which has returned to levels seen in the previous year [3][39]. - The report emphasizes the implementation of proactive macroeconomic policies, including fiscal and monetary measures, which are anticipated to support the steel industry's recovery and growth [4][12]. Summary by Sections Supply - The average daily pig iron production has decreased by 10,000 tons to 2,447,000 tons, with a slight decline in long-process production [11]. - The capacity utilization rate for blast furnaces across 247 steel mills is reported at 91.7%, a decrease of 0.4 percentage points from the previous period but an increase of 4.1 percentage points year-on-year [17]. Inventory - Total steel inventory has shifted from an increase to a decrease, with a week-on-week decline of 3.1%. The social inventory of five major steel products stands at 9,937,000 tons, down 3.8% from the previous week and down 28.5% year-on-year [24][26]. Demand - Apparent consumption of five major steel products has significantly improved, with a week-on-week increase of 8.1%. Rebar consumption reached 2,603,000 tons, up 21.7% from the previous week [39][48]. Raw Materials - Iron ore prices have risen, with the Platts 62% iron ore price index at $101.1 per ton, reflecting a week-on-week increase of 2.5% [57]. - The report notes a slight increase in the shipping volume of iron ore from Australia, while Brazilian shipments have decreased [57]. Prices and Profits - Steel prices are showing a strong performance, with the Myspic comprehensive steel price index at 123.6, up 0.9% week-on-week. The report anticipates that steel prices may gradually strengthen due to improving fundamentals driven by macroeconomic and industry policies [70][71]. - The current profit margins for long-process rebar and hot-rolled coils remain negative, indicating ongoing cost pressures [72]. Key Stocks - The report recommends several stocks for investment, including: - Hualing Steel (Buy) - Nanjing Steel (Buy) - Baosteel (Buy) - New Steel (Buy) - Jiuli Special Materials (Buy) - Xinxing Ductile Iron Pipes (Hold) [8].

Investment Rating - The report maintains a "Buy" rating for several steel companies, including Baosteel, Hualing Steel, and Nanjing Steel, among others [5][6]. Core Viewpoints - The easing of tariffs between China and the US has improved external demand expectations, providing short-term support for steel demand [5][6]. - The report anticipates a potential increase in steel production control due to uncertainties in external demand and a recovering domestic demand [5][6]. - The profitability of steel companies is expected to recover as raw material supply conditions become more favorable [5][6]. Price Summary - As of May 16, steel prices have increased, with rebar (20mm HRB400) priced at 3200 CNY/ton, up 50 CNY/ton from the previous week [3][12]. - Hot-rolled steel (3.0mm) is priced at 3310 CNY/ton, reflecting an increase of 80 CNY/ton [3][12]. - Cold-rolled steel (1.0mm) is priced at 3670 CNY/ton, up 70 CNY/ton [3][12]. Production and Inventory - Total steel production for the week ending May 16 was 8.68 million tons, a decrease of 58,200 tons from the previous week [4]. - Social inventory of major steel products decreased by 392,900 tons to 9.93 million tons [4]. - The apparent consumption of rebar was estimated at 2.60 million tons, an increase of 463,900 tons week-on-week [4]. Investment Recommendations - Recommended stocks include Baosteel, Hualing Steel, Nanjing Steel in the general steel sector, and CITIC Special Steel, Yongjin Co., and Xianglou New Materials in the special steel sector [5]. - Suggested attention to high-temperature alloy stocks such as Fushun Special Steel [5]. Key Company Earnings Forecasts - Baosteel (600019.SH) has an EPS forecast of 0.34 CNY for 2024, with a PE ratio of 20 [5]. - Hualing Steel (000932.SZ) has an EPS forecast of 0.29 CNY for 2024, with a PE ratio of 17 [5]. - Nanjing Steel (600282.SH) has an EPS forecast of 0.37 CNY for 2024, with a PE ratio of 12 [5].

本次担保金额及已实际为其提供的担保余额：南京钢铁股份有限公司（以下 简称"公司"，含子公司）为控股子公司金祥新能源提供总额度不超过4,800万美元 （以美元对人民币汇率1:7.1938测算，折合人民币34,530.24万元，下同）的担保。 公司2025年已实际为金祥新能源提供的新增担保额度为4,000万美元，为金祥新能 源提供的担保余额为18.12亿元（含存续）。前述担保余额不含本次担保。 截至本公告出具日，公司无逾期担保的情形。 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： 被担保人：PT. KinXiang New Energy Technologies Indonesia（中文名称： 印尼金祥新能源科技有限责任公司，以下简称"金祥新能源"）。 本次担保无反担保。 特别风险提示：被担保人金祥新能源资产负债率超过70%，敬请投资者注意 相关风险。 证券代码：600282 证券简称：南钢股份 公告编号：临2025-030 南京钢铁股份有限公司 关于对外提供担保的进展公告 一、担保情况概述 公司于2024年12 ...