证券代码：600516 证券简称：方大炭素 公告编号：2025-056 方大炭素新材料科技股份有限公司 本次会议是否有否决议案：无 一、会议召开和出席情况 （一）股东大会召开的时间：2025 年 12 月 15 日 （二）股东大会召开的地点：甘肃省兰州市红古区海石湾镇方大炭素办公楼 五楼会议室 （三）出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1.出席会议的股东和代理人人数 | 1,458 | | --- | --- | | 2.出席会议的股东所持有表决权的股份总数（股） | 1,596,697,596 | | 3.出席会议的股东所持有表决权股份数占公司有表决权股 | 42.2787 | | 份总数的比例（%） | | 2025年第二次临时股东大会决议公告 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。 重要内容提示： （四）表决方式是否符合《公司法》及《公司章程》的规定，股东大会主持 情况等。 本次会议由公司董事会召集，董事长马卓先生主持本次会议，本次会议以现 场和通讯相结合的方式召开，采取现场与网络 ...

Core Insights - The steel industry is experiencing a dual decline in supply and demand, with structural optimization and marginal profit improvement. Supply side: total contraction and structural differentiation, with capital expenditure continuing to show weak growth. The steel industry's capital expenditure has been slowing for four consecutive years, entering negative growth in 2025 due to multiple factors including "anti-involution" policies, a downturn in the real estate sector, and limited infrastructure support [2][10] - The domestic crude steel consumption has decreased significantly, with a 6.4% year-on-year decline in demand from January to October 2025, amounting to 710 million tons. The demand in traditional steel usage areas remains weak, particularly in real estate and infrastructure [2][32] - Exports have become a crucial support for the steel industry, with steel exports reaching 97.74 million tons from January to October 2025, a 6.4% increase year-on-year. The total annual export volume is expected to exceed 110 million tons, effectively offsetting the pressure from declining domestic demand [2][48] Group 1: Marginal Improvement in the Steel Industry - The average steel price has continued to decline, with the comprehensive price index for ordinary steel dropping to 3,447 yuan/ton as of November 24, 2025, down approximately 200 yuan from the year's peak [10][60] - The profit margin of the steel industry has shown significant improvement, with the gross profit margin reaching 6.4% in Q3 2025, marking a recovery from the low levels seen since 2022 [13][15] - The proportion of loss-making enterprises in the steel industry has slightly decreased but remains high at 37.18%, indicating ongoing challenges within the industry [17] Group 2: PPI Turnaround Expectations - The Producer Price Index (PPI) for the steel industry is expected to turn positive by Q2 2026, driven by improvements in supply structure and demand dynamics [53][60] - Historical data shows that the steel industry plays a significant role in PPI fluctuations, with past PPI turnarounds in 2016 and 2021 coinciding with significant steel industry performance [54][60] - The steel industry accounts for approximately 5.9% of the PPI, making its price movements critical for overall industrial price trends [53][54] Group 3: Investment Recommendations - The report suggests focusing on high-efficiency, low-emission regional leading enterprises such as Hualing Steel, Shougang, and Shandong Steel, as well as companies with strong growth potential like Baosteel and Nanjing Steel [4][60] - The steel sector is viewed as having strong "anti-involution" attributes and significant profit recovery potential, making it a strategic investment opportunity for the medium to long term [4][60] - The report emphasizes the importance of monitoring the performance of small and medium-sized steel companies, particularly those with strong earnings growth and valuation appeal [4][60]

方大炭素作为亚洲最大、世界领先的优质炭素制品生产供应基地，核心产品石墨电极主要应用于电弧炉 炼钢领域，业绩与钢铁行业景气度高度关联。近年来，受宏观经济周期波动、下游需求调整及行业竞争 加剧等多重因素影响，公司传统业务增长承压。在业绩整体平稳的表象下，主动开辟新能源材料赛道作 为第二增长曲线，已成为方大炭素突破发展瓶颈、实现长远布局的必然选择。 此次以产业协同方身份参与重整，对方大炭素而言是一场精准卡位的战略布局。公司主营的煤系针状 焦、石油焦等产品，是锂电负极材料生产的关键前驱体；同时在硅碳负极、固态电池领域积累了多项技 术储备，与杉杉股份形成天然业务协同。此前，方大炭素已与宁德时代达成战略合作，携手研发锂电负 极与固态电池电解质。若能成功整合杉杉股份的产能与市场资源，方大炭素在新能源材料领域将形 成"研发合作+产能整合"的双线推进态势，全产业链协同优势将进一步凸显，核心竞争力全面提升。 此次重整的背后，是方大炭素控股股东辽宁方大集团实业有限公司（以下简称"方大集团"）"产融结 合、赋能重构"模式的延伸。方大集团此前在多家企业的并购重组中实现扭亏为盈，此次方大炭素以产 业协同方身份参与，其雄厚的资金实力为整合 ...

Summary of China Nuclear Power Tech Virtual Tour Industry Overview - **Industry**: Nuclear Power in China - **Key Companies Invited**: CGN Power, CNNP, Dongfang Electric, Harbin Electric, Neway Valve, Jiangsu Etern, FangDa Carbon, Lianchuang Optoelectronic [1] Core Insights 1. **Positive Installation Trajectory for Nuclear**: - The installation of nuclear power in China is expected to double from 2024, increasing from 4GW to an estimated 8-10GW annually over the next decade [3][10] - The nuclear generation mix is projected to reach 10% by 2035, up from 4% in 2024, driven by favorable policy support [10] 2. **Nuclear Technology Pipeline**: - A clear pipeline for nuclear technology exists over the next 30 years, with Gen. III Hualong One identified as a key enabler for China's nuclear targets by 2035 [4][11] - Gen. III SMR Linglong One and Gen. IV reactors are expected to supplement efforts to meet decarbonization needs and reduce reliance on uranium [4][11] 3. **International Opportunities**: - China is well-positioned to explore overseas opportunities in emerging markets (EM) and developed markets (DM) due to capacity availability and cost competitiveness [5][14] - The Hualong One reactor is targeted at EM countries, while the Linglong One reactor is aimed at DM countries with stable power needs [14] 4. **Cost Competitiveness**: - The upfront investment for Hualong One is estimated at US$2,200-2,600/kW, approximately 60% less than international competitors [14] - China's nuclear sector has achieved a high localization rate for core equipment, reducing supply chain disruption risks [14] 5. **Earnings Elasticity**: - Upstream supply chain players are expected to experience higher earnings elasticity compared to downstream operators, as nuclear installation volumes may be offset by lower on-grid tariffs [15] Additional Insights - **Cautious Outlook for Solar**: - The outlook for solar energy is weaker, with expectations of price cuts and lower capital expenditures due to demand weakness [2][9] - Companies like CNNP are shifting investment preferences towards offshore wind and Eastern solar projects due to changing market conditions [9] - **Investment Thresholds**: - CNNP is reassessing its renewable project pipeline based on regional implementation details, with a minimum return threshold of 6%-7% equity IRR [9] - **Future of Nuclear Fusion**: - Nuclear fusion is considered a strategic national priority for R&D, with potential breakthroughs needed for commercialization [14] This summary encapsulates the key points from the China Nuclear Power Tech Virtual Tour, highlighting the positive outlook for nuclear energy in China, the strategic positioning for international opportunities, and the contrasting challenges faced by the solar energy sector.

方大炭素新材料科技股份有限公司 2025年第二次临时股东大会会议资料 2025年12月15日 1 2025年第二次临时股东大会资料之一 方大炭素新材料科技股份有限公司 2025年第二次临时股东大会会议议程 本次股东大会所采用的表决方式是现场投票和网络投票相 结合的方式。采用上海证券交易所网络投票系统，通过交易系统 投票平台的投票时间为2025年12月15日的交易时间段，即9:15 —9:25，9:30—11:30，13:00—15:00；通过互联网投票平台的 投票时间为2025年12月15日9:15—15:00。 一、现场会议时间：2025年12月15日 15点00分。 二、现场会议地点：甘肃省兰州市红古区海石湾镇方大炭素 办公楼五楼会议室。 三、会议召集人：方大炭素董事会。 四、参会人员：股东或股东代表、董事、监事、高级管理人 员及聘请的见证律师等。 五、会议主要议程 3 （五）见证律师对本次股东大会发表见证意见； （六）签署会议决议和会议记录； （七）会议主持人宣布会议结束。 2025年第二次临时股东大会资料之二 （一）介绍议案 序号 议案名称 投票股东类型 A 股股东 非累积投票议案 1 关于取消监事会 ...

方大炭素新材料科技股份有限公司 2025年第二次临时股东大会会议资料 2025年12月15日 2025年第二次临时股东大会资料之一 1 方大炭素新材料科技股份有限公司 2025年第二次临时股东大会会议议程 本次股东大会所采用的表决方式是现场投票和网络投票相 结合的方式。采用上海证券交易所网络投票系统，通过交易系统 投票平台的投票时间为2025年12月15日的交易时间段，即9:15— 9:25，9:30—11:30，13:00—15:00；通过互联网投票平台的投票 时间为2025年12月15日9:15—15:00。 一、现场会议时间：2025年12月15日 15点00分。 二、现场会议地点：甘肃省兰州市红古区海石湾镇方大炭素 办公楼五楼会议室。 三、会议召集人：方大炭素董事会。 四、参会人员：股东或股东代表、董事、监事、高级管理人 员及聘请的见证律师等。 五、会议主要议程 （一）介绍议案 序号 议案名称 投票股东类型 A 股股东 非累积投票议案 1 关于取消监事会并修订《公司章程》的议案 √ 2 关于修订《方大炭素新材料科技股份有限公司股东会议事 规则》的议案 √ （五）见证律师对本次股东大会发表见证意见； （ ...

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 001203 大中矿业 | | 1.98(乙 | 18.84% | -6098.37万 | -5.80% | -1.37 Z | -13.04% | | 601969 海南矿业 | | 1897.24万 | 4.88% | -753.10万 | -1.94% | -1144.13万 | -2.94% | | 600295 鄂尔多斯 | | 690.74万 | 5.36% | 905.82万 | 7.02% | -1596.56万 | -12.38% | | 600382 广东明珠 | | 199.82万 | 2.66% | -49.59万 | -0.66% | -150.23万 | -2.00% | | 000923 河钢资源 | | 40.36万 | 0.15% | 105.92万 | 0.39% | -146.27万 | -0.53% | | 601121 | 宝地 ...

Group 1 - The core viewpoint of the article emphasizes the collaboration between Yunnan Province and the Liaoning Fangda Group, focusing on various sectors such as aviation hub construction, healthcare, steel industry transformation, and cultural tourism [1] - Yunnan's advantages in location, resources, and ecology are highlighted, along with its favorable business environment, which the company aims to leverage for local development [1] - The meeting aims to deepen practical cooperation based on market-oriented and legal principles to achieve mutual benefits [1]

多家公司投资金额超10亿元 【深圳商报讯】(记者陈燕青)今年以来，随着A股市场的转暖，多家上市公司宣布斥资炒股。近日，乐 视网称拟斥资1.8亿元炒股和参与新股申购。根据记者不完全统计，今年已有利欧股份（002131）、方 大炭素（600516）等近10家公司拟参与证券投资金额超过10亿元。 已退市至三板的乐视网12月3日宣布，在不影响公司主营业务正常发展的前提下，公司拟利用自有资金 购买股票获得额外的资金收益，投资本金总额不超过1.8亿元。 多位业内人士表示，上市公司大手笔进行证券投资原因主要包括以下几点：一是热衷炒股的公司大多现 金流充沛，希望通过盘活闲置资金来获取投资收益；二是在主营业务增长乏力时，证券投资收益往往成 为美化上市公司财报的重要手段；三是今年股市明显强于债市，叠加市场利率持续走低，固收产品的收 益率受到冲击，因此吸引了部分上市公司的投资。 也有少数公司宣布终止证券投资。8月25日，江苏国泰（002091）发布公告，称公司终止使用部分闲置 自有资金15亿元设立子公司开展证券投资，主要是基于进一步聚焦主业、谨慎投资、提高投资者分红回 报等考虑。 根据此前公告披露的金额，利欧股份、方大炭素、七匹狼 ...

Core Viewpoint - Fangda Carbon announced a reduction in the mutual guarantee limit with Fangda Special Steel from "not exceeding RMB 1 billion" to "not exceeding RMB 500 million" during the 15th temporary meeting of the 9th Board of Directors held on November 28, 2025 [1] Summary by Category - **Company Announcement** - Fangda Carbon held a temporary board meeting to discuss adjustments to the mutual guarantee limit with Fangda Special Steel [1] - The mutual guarantee limit was adjusted from "not exceeding RMB 1 billion" to "not exceeding RMB 500 million" [1]