Core Insights - The automotive axle industry in China is experiencing significant growth driven by increasing demand for vehicles, particularly SUVs, and advancements in automotive technology [1][11] - The market size of China's automotive axle industry is projected to reach 67.158 billion yuan in 2025, reflecting a year-on-year growth of 5.93% in 2024 [1][12] - The global automotive axle market is expected to grow to 49.526 billion USD by 2030, indicating a robust demand for high-performance axles [11] Industry Overview - Automotive axles, also known as vehicle axles, connect the wheels to the vehicle frame and are crucial for transmitting forces and maintaining vehicle stability [2][9] - The industry is categorized into light, heavy, and suspension axles, with light axles primarily serving passenger vehicles and heavy axles for commercial vehicles [2][4] Industry Development History - The axle industry began in the early 20th century, evolving from simple steel and chain constructions to advanced materials and manufacturing processes [4][5] - Significant advancements occurred in the 1980s in China, transitioning from reliance on foreign technology to independent research and development [5][6] Industry Value Chain - The upstream of the axle industry includes raw materials like high-strength steel and production equipment, while the midstream focuses on manufacturing, and the downstream encompasses various vehicle applications [7][8] Current Industry Status - The global automotive market is recovering post-pandemic, with production expected to reach 93.95 million units by 2024, which positively impacts the axle industry [10][11] - China's automotive production is projected to be 31.28 million units in 2024, with a notable increase in new energy vehicles [10][11] Competitive Landscape and Key Players - The global axle market is dominated by international giants like ZF, Bosch, and Cummins, while Chinese manufacturers focus on commercial vehicle axles [12] - Key players in China include Liaoning Shuguang Automotive Group, Dongfeng Dana Axle Company, and others, with a strong emphasis on technology and product development [12][13] Industry Trends - The future of the axle industry is leaning towards specialization, with customized solutions for different vehicle types and driving conditions [14] - Lightweight designs using advanced materials and integrated systems are becoming a priority to enhance vehicle efficiency and performance [15][16]

Group 1 - Company沃尔核材 (002130) is a leading domestic high polymer nuclear radiation modified material enterprise, focusing on the research and supply of insulation and protection materials for fusion devices, with core products including radiation-resistant heat shrink tubing and high-temperature insulation sleeves [1][35] - The radiation-resistant heat shrink tubing is made from specially modified polymer materials, capable of withstanding strong radiation and high-temperature environments within fusion devices, used for insulating superconducting magnet coils and signal cables [1][35] - The high-temperature insulation sleeves developed by the company can withstand temperatures above 200℃, meeting the insulation needs of cables inside the fusion reactor vacuum chamber, and possess excellent corrosion resistance and aging resistance [1][35] Group 2 - Company宝胜股份 (600973) is a leading domestic wire and cable enterprise, focusing on the research and manufacturing of special cables for fusion devices, with core products including radiation-resistant low-smoke halogen-free cables and low-temperature superconducting cable accessories [2][36] - The radiation-resistant cables utilize cross-linked polyethylene insulation materials with added radiation stabilizers, capable of long-term stable operation in radiation doses of 10^6 Gy, already applied in the power distribution system of fusion experimental devices [2][36] - The company is also developing control cables specifically for fusion reactors, optimizing the cable shielding structure to enhance electromagnetic interference resistance, ensuring stable transmission of control signals [2][36] Group 3 - Company西部超导 (688122) is a leading domestic high-end titanium alloy and superconducting materials enterprise, focusing on the research of titanium alloy structural materials and superconducting strip substrates for superconducting magnets in fusion devices [3][37] - The high-strength and high-toughness titanium alloy produced by the company is a core material for the support frame of superconducting magnets, capable of withstanding the enormous electromagnetic forces generated during magnet excitation [3][37] - The company is also developing seamless titanium alloy pipes that are resistant to high pressure and corrosion, used for medium transmission in the cooling system of fusion reactors, becoming an important supplier in the nuclear fusion materials field [3][37] Group 4 - Company钢研高纳 (300034) is a leading domestic high-temperature alloy enterprise, focusing on the research of high-temperature alloy materials for core components of fusion reactors, with core products including nickel-based high-temperature alloys and refractory metal alloys [4][38] - The nickel-based high-temperature alloys developed by the company can withstand temperatures above 1200℃ and possess excellent radiation swelling resistance, suitable for components like the first wall and divertor in fusion reactors [4][38] - The company collaborates with research institutions to conduct research on surface coating technology for high-temperature alloys, enhancing the materials' high-temperature and corrosion resistance [4][38] Group 5 - Company中密控股 (300470) is a leading domestic mechanical sealing enterprise, focusing on the research and manufacturing of sealing components for fluid systems in fusion devices, with core products including high-temperature mechanical seals and vacuum seals [5][39] - The high-temperature mechanical seals can withstand high-temperature and high-pressure media in the cooling system of fusion reactors, with zero leakage sealing performance, already applied in the main circulation pump sealing system of fusion experimental devices [5][39] - The company is also developing dynamic sealing components for fusion devices, addressing sealing challenges for rotating components in fusion reactors [5][39] Group 6 - Company中泰股份 (300435) is a leading domestic deep cooling technology equipment enterprise, focusing on the research and manufacturing of low-temperature refrigeration systems for fusion devices, with core products including large liquid nitrogen refrigeration units and liquid helium temperature refrigeration equipment [6][40] - The large liquid nitrogen refrigeration units can provide a low-temperature cold source of -196℃, supporting the primary cooling of superconducting magnets [6][40] - The company is also developing integrated technology for low-temperature systems in fusion reactors, providing a comprehensive solution of "refrigeration equipment + low-temperature pipelines + insulation systems" [6][40] Group 7 - Company汉钟精机 (002158) is a leading domestic screw compressor enterprise, focusing on the research and manufacturing of vacuum pumps for the vacuum systems of fusion devices, with core products including dry screw vacuum pumps and Roots vacuum pumps [7][42] - The dry screw vacuum pumps can reduce the pressure in the vacuum chamber to 10^-5 Pa, featuring radiation resistance and low vibration, preventing oil vapor contamination in the vacuum environment [7][42] - The company is also optimizing the rotor structure design of vacuum pumps to enhance fatigue resistance and extend the service life in extreme environments of fusion devices [7][42] Group 8 - Company中科三环 (000970) is a leading domestic rare earth permanent magnet materials enterprise, focusing on the research of permanent magnet materials for the magnet systems of fusion devices, with core products including high-performance NdFeB permanent magnets [8][43] - The high coercivity NdFeB permanent magnets produced by the company have excellent magnetic performance and temperature stability, used in auxiliary magnet systems for fusion devices [8][43] - The company is also developing radiation-resistant NdFeB permanent magnets, optimizing the composition by adding niobium and dysprosium to reduce the impact of radiation on magnetic performance [8][43] Group 9 - Company安泰环境 (300179) is a leading domestic high-end environmental and energy chemical equipment enterprise, focusing on the research of gas purification and treatment systems for fusion devices, with core products including high-purity gas purifiers and waste gas treatment devices [9][44] - The gas purifiers can enhance the purity of deuterium-tritium gas to 99.9999%, removing impurities such as oxygen and moisture, ensuring efficient fusion reactions [9][44] - The company is also developing equipment for the recovery and reuse of deuterium-tritium gas, improving fuel utilization rates in fusion reactors [9][44] Group 10 - Company万华化学 (600309) is a leading domestic chemical new materials enterprise, focusing on the research and supply of high-performance polymer materials for fusion devices, with core products including radiation-resistant polyimide films and high-temperature fluoroplastics [10][45] - The radiation-resistant polyimide films have excellent insulation and radiation resistance, used for the insulation layer of superconducting magnets, preventing short circuits in magnet coils [10][45] - The company is also developing high-sealing, radiation-resistant silicone sealants for fusion devices, ensuring the sealing performance of various components [10][45] Group 11 - Company中核科技 (000777) is a leading domestic nuclear-grade valve enterprise, focusing on the research and manufacturing of special nuclear-grade valves for fusion devices, with core products including nuclear-grade shut-off valves, safety valves, and vacuum isolation valves [11][46] - The nuclear-grade shut-off valves are designed to withstand high temperatures, high pressures, and strong radiation, ensuring safe operation in fusion reactors [11][46] - The company is also developing vacuum isolation valves with a sealing vacuum degree of 10^-6 Pa, isolating the vacuum chamber of fusion reactors from external systems [11][46] Group 12 - Company海陆重工 (002255) is a leading domestic industrial furnace and nuclear power equipment enterprise, focusing on the research and manufacturing of heat treatment equipment for high-temperature components in fusion devices, with core products including vacuum heat treatment furnaces and high-temperature sintering furnaces [12][47] - The vacuum heat treatment furnaces can operate in a vacuum environment of 10^-3 Pa, enhancing the density and mechanical strength of components [12][47] - The company is also developing customized heat treatment solutions for fusion device components, optimizing their performance [12][47] Group 13 - Company盾安环境 (002011) is a leading domestic refrigeration and air conditioning equipment enterprise, focusing on the research and manufacturing of temperature control systems for fusion devices, with core products including high-precision constant temperature control systems and low-temperature cooling units [13][48] - The high-precision constant temperature control systems can maintain a temperature accuracy of ±0.1℃, ensuring stable operation of electronic devices in fusion reactors [13][48] - The company is also developing integrated temperature control systems for fusion devices, providing a comprehensive solution of "cooling equipment + temperature sensors + control systems" [13][48] Group 14 - Company抚顺特钢 (600399) is a leading domestic special steel enterprise, focusing on the research and supply of special alloy steels for fusion devices, with core products including martensitic stainless steel and precipitation-hardened stainless steel [14][49] - The martensitic stainless steel produced by the company has high strength and corrosion resistance, suitable for the shell manufacturing of vacuum chambers in fusion reactors [14][49] - The company is also conducting research on the radiation resistance of steel used in fusion devices, optimizing compositions by adding rare earth elements [14][49] Group 15 - Company东华科技 (002140) is a leading domestic engineering design and general contracting enterprise, focusing on the engineering design and system integration of fusion devices, providing full-chain services from process design to construction installation [15][50] - The company has participated in multiple engineering design projects for domestic fusion experimental devices, optimizing the layout design of vacuum chambers, cooling systems, and power systems [15][50] - The company is also developing technical reserves for the engineering design of commercial fusion power plants, supporting future construction [15][50]

Group 1 - The special steel sector saw a slight increase of 0.47% on January 8, with Fushun Special Steel leading the gains [1] - The Shanghai Composite Index closed at 4082.98, down 0.07%, while the Shenzhen Component Index closed at 13959.48, down 0.51% [1] - Fushun Special Steel's stock price rose by 4.10% to 6.35, with a trading volume of 1.22 million shares and a transaction value of 766 million yuan [1] Group 2 - The special steel sector experienced a net outflow of 49.13 million yuan from main funds, while retail investors saw a net inflow of 62.37 million yuan [2] - Among individual stocks, Fushun Special Steel had a main fund net inflow of 48.90 million yuan, but a net outflow of 66.85 million yuan from retail investors [3] - Changbao Co. had a main fund net inflow of 17.13 million yuan, while retail investors experienced a net outflow of 1.29 million yuan [3]

Market Overview - The special steel sector increased by 0.63% on January 7, with Taiyuan Iron & Steel leading the gains [1] - The Shanghai Composite Index closed at 4085.77, up 0.05%, while the Shenzhen Component Index closed at 14030.56, up 0.06% [1] Stock Performance - Taiyuan Iron & Steel (000825) closed at 5.35, up 4.90% with a trading volume of 2.5389 million shares and a transaction value of 1.343 billion [1] - Other notable performers include: - Jiao Jin Co. (603995) at 18.80, up 3.24% [1] - Xiang Lou New Materials (301160) at 79.30, up 3.05% [1] - Shengde Zhengtai (300881) at 35.22, up 1.88% [1] - Conversely, some stocks experienced declines, such as: - Changbao Co. (002478) at 8.44, down 0.12% [1] - Fangda Special Steel (600507) at 5.93, down 0.34% [1] - Shagang Group (002075) at 5.74, down 0.69% [1] Capital Flow - The special steel sector saw a net outflow of 19.32 million from institutional investors and 15.48 million from retail investors, while retail investors had a net inflow of 34.81 million [2] - Detailed capital flow for specific stocks includes: - Taiyuan Iron & Steel had a net inflow of 95.45 million from institutional investors [3] - Shengde Zhengtai saw a net inflow of 10.22 million from institutional investors [3] - Fangda Special Steel experienced a net outflow of 1.61 million from retail investors [3]

Core Insights - The commercial aerospace sector in the A-share market is rapidly expanding, with several companies reporting progress in product delivery and profitability in satellite manufacturing and rocket components [1][2] - Companies are actively positioning themselves through technological advancements and strategic partnerships to capitalize on the growth opportunities in the commercial aerospace industry [1] Group 1: Order Delivery and Revenue Growth - Companies are beginning to achieve stable small-batch deliveries in their commercial aerospace businesses, with projections for significant revenue growth in the coming years [1] - Chaojie Co. expects its commercial aerospace-related revenue to grow rapidly by 2026, driven by the completion of key rocket models and increased market demand [1] - The manufacturing of rocket structural components is a critical segment of the commercial aerospace supply chain, with Chaojie Co. set to complete its riveting production line by mid-2024, capable of producing 10 rockets annually [1] Group 2: Product Development and Market Positioning - Jiuzhiyang has successfully sold products such as fiber amplifiers and tracking cameras for commercial aerospace applications, focusing on economic and reliable solutions [2] - Longsheng Technology's subsidiary has developed several core precision components for commercial aerospace, including satellite solar wing hinges and attitude control mechanisms [2] - Blues Technology has leveraged its expertise in consumer electronics to supply satellite ground receiver components and has developed ultra-thin photovoltaic glass modules for space applications [2] Group 3: Technological Ecosystem and Collaboration - The initial increase in orders signals robust growth in the commercial aerospace sector, supported by ongoing technological breakthroughs and collaborative ecosystem development [3] - ZTE is working on a star-ground integrated communication network for 6G, collaborating with domestic operators and satellite companies to validate NTN technology [3] - Companies like Qiji Precision and Chengdu Huami are focusing on developing satellite communication systems and high-performance chips to support commercial aerospace needs [4][5]

Market Performance - The special steel sector increased by 0.6% on January 6, with Fushun Special Steel leading the gains [1] - The Shanghai Composite Index closed at 4083.67, up 1.5%, while the Shenzhen Component Index closed at 14022.55, up 1.4% [1] Individual Stock Performance - Fushun Special Steel (code: 6652009) closed at 6.19, up 5.99% with a trading volume of 1.23 million shares and a transaction value of 742 million yuan [1] - Xianglou New Materials (code: 301160) closed at 76.95, up 5.76% with a trading volume of 67,500 shares and a transaction value of 515 million yuan [1] - Taiyuan Iron & Steel (code: 000825) closed at 5.10, up 4.08% with a trading volume of 1.58 million shares and a transaction value of 790 million yuan [1] - Xining Special Steel (code: 600117) closed at 2.89, up 2.12% with a trading volume of 296,700 shares and a transaction value of 85.15 million yuan [1] - Shagang Group (code: 002075) closed at 5.78, up 1.23% with a trading volume of 417,100 shares and a transaction value of 241 million yuan [1] Capital Flow Analysis - The special steel sector saw a net inflow of 19.62 million yuan from institutional investors, while retail investors contributed a net inflow of 45.83 million yuan [2] - The sector experienced a net outflow of 65.45 million yuan from speculative funds [2] Detailed Capital Flow for Individual Stocks - Taiyuan Iron & Steel had a net inflow of 10 million yuan from institutional investors, but a net outflow of 49.73 million yuan from speculative funds [3] - Fushun Special Steel saw a net inflow of 58.04 million yuan from institutional investors, with a net outflow of 25.49 million yuan from speculative funds [3] - Xining Special Steel had a net inflow of 4.96 million yuan from institutional investors, with a net outflow of 4.51 million yuan from speculative funds [3] - Common stocks like Jiu Li Special Materials (code: 002318) experienced a net outflow of 22.28 million yuan from institutional investors [3]

股票代码：600399 股票简称：抚顺特钢 编号：临 2026-002 抚顺特殊钢股份有限公司 关于向银行申请抵押借款的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏，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。 抚顺特殊钢股份有限公司（以下简称"公司"）于 2025 年 12 月 30 日召开第九届董事会第三次会议，审议通过《关于向银行申请抵 押借款的议案》。公司拟以自有土地使用权、在建工程作为抵押物， 向国家开发银行辽宁省分行申请总额不超过人民币 247,000,000.00 元（大写：贰亿肆仟柒佰万元整）的借款，借款期限 8 年。最终借款 金额、借款期限、借款利率等以银行审批为准。具体情况如下： 一、基本情况 为推进公司高合金板材生产线项目建设，公司拟以自有土地使用 权、高合金板材生产线项目在建工程（房屋建筑物及设备）作为抵押 物 ， 向 国 家 开 发 银 行 辽 宁 省 分 行 申 请 总 额 不 超 过 人 民 币 247,000,000.00 元（大写：贰亿肆仟柒佰万元整）的借款，并与国 家开发银行辽宁省分行签订相关的抵押合同、借款合 ...

关于持股 5%以上股东部分股份解除质押 及再质押的公告 证券代码：600399 证券简称：抚顺特钢 公告编号：临 2026-003 抚顺特殊钢股份有限公司 本公司及董事会全体成员保证公告内容的真实、准确和完整，不 存在虚假记载、误导性陈述或重大遗漏，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: 抚顺特殊钢股份有限公司（以下简称"公司"）控股股东江苏 沙钢集团有限公司（以下简称"沙钢集团"）及其一致行动人东北特 殊钢集团股份有限公司（以下简称"东北特钢"）、宁波梅山保税港区 锦程沙洲股权投资有限公司（以下简称"锦程沙洲"）共计持有公司 股份 611,404,516 股，占公司股份总数的 31.00%。本次解除质押及 再质押后，东北特钢及一致行动人质押公司股份总数 275,876,444 股， 占其持有公司股份总数的 45.12%，占公司总股本的 13.99%。 沙钢集团持有公司股份 304,200,000 股，东北特钢持有公司股 份 275,876,444 股，锦程沙洲持有公司股份 31,328,072 股。公司股 东沙钢集团、东北特钢及锦程沙洲为同一实际控制人控制的企业。 3、股东 ...

抚顺特殊钢股份有限公司（以下简称"公司"）第九届董事会第 三次会议于2025年12月30日以现场结合通讯方式召开，会议于2025 年 12 月 28 日以书面和电子邮件等方式通知全体董事。本次会议应出 席董事 9 名，实际出席董事 9 名，会议由董事长孙立国先生主持，会 议的召开符合《公司法》和《公司章程》的规定。会议审议通过了《关 于向银行申请抵押借款的议案》，具体情况如下： 为推进公司高合金板材生产线项目建设，公司拟以自有土地使用 权、高合金板材生产线项目在建工程（房屋建筑物及设备）作为抵押 物 ， 向 国 家 开 发 银 行 辽 宁 省 分 行 申 请 总 额 不 超 过 人 民 币 247,000,000.00 元（大写：贰亿肆仟柒佰万元整）的借款，具体情 况详见公司与本公告同日在《中国证券报》《上海证券报》及上海证 券交易所网站披露的《抚顺特钢：关于向银行申请抵押借款的公告》 （临：2026-002）。 表决结果：同意 9 票，反对 0 票，弃权 0 票。本议案已经董事会 审计委员会表决通过，无需提交股东会审议。 股票代码：600399 股票简称：抚顺特钢 编号：临 2026-001 抚顺特殊钢股份 ...

抚顺特钢公告称，控股股东沙钢集团及其一致行动人东北特钢、锦程沙洲共持股611,404,516股，占公司 股份总数31.00%。2025年12月30日，东北特钢将120,876,444股解除质押，占其所持股份19.77%，占总 股本6.13%，同日又将该部分股份再质押给沙钢集团，用于生产经营。本次解除质押及再质押后，东北 特钢及一致行动人质押股份总数275,876,444股，占其持股总数45.12%，占公司总股本13.99%。 ...