一、可能被实施退市风险警示的原因 根据公司于 2026 年 1 月 26 日披露的《八一钢铁关于股票可能被实施退市风险 警示的风险提示公告》（公告编号：临 2026-002），公司预计 2025 年末净资产为 -17.60 亿元到-19.50 亿元。上述预计数据将触及《上海证券交易所股票上市规则》 第 9.3.2 条之"（二）最近一个会计年度经审计的期末净资产为负值，或追溯重述 后最近一个会计年度期末净资产为负值"规定的对股票交易实施退市风险警示的情 形。公司在 2025 年年度报告披露后，公司股票将可能被实施退市风险警示（在公司 股票简称前冠以"*ST"字样）。 二、公司股票停牌情况及退市风险警示实施安排 证券代码：600581 证券简称：八一钢铁 公告编号：临 2026-012 新疆八一钢铁股份有限公司 关于股票可能被实施退市风险警示的第三次提示性 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： ●新疆八一钢铁股份有限公司（以下简称"公司"）预计 2025 年度经审计的期 末净资产为负值，依据《上海证 ...

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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 965 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 794,147,373 | | 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 | | | 份总数的比例（%） | 51.8069 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 证券代码：600581 证券简称：八一钢铁 公告编号：2026-011 新疆八一钢铁股份有限公司 2026年第一次临时股东会决议公告 审议结果：通过 表决情况： | | | 同意 | | 反对 | | 弃权 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东类型 | 票数 | | | 比例（%） | 票数 比例 | 票数 | 比例 | | | | | | | | （%） | | （%） ...

关于新疆八一钢铁股份有限公司 2026 年第一次临时股东会的 北京市中伦（重庆）律师事务所 法律意见书 二〇二六年三月 北京市中伦（重庆）律师事务所 关于新疆八一钢铁股份有限公司 2026 年第一次临时股东会的 法律意见书 致：新疆八一钢铁股份有限公司 北京市中伦（重庆）律师事务所（以下简称"本所"）接受新疆八一钢铁股 份有限公司（以下简称"贵公司"）委托，指派律师出席贵公司2026年第一次临 时股东会（以下简称"本次股东会"），并就贵公司本次股东会的召集和召开程序、 召集人资格、出席会议人员资格、本次股东会的表决程序、表决结果等相关事项 出具本法律意见书。 本法律意见书根据已发生或存在的事实，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《上市公司股东会规则》等法律、法规、规范性文件以及 《新疆八一钢铁股份有限公司章程》（以下简称"《公司章程》"）的相关规定出 具。 本法律意见书仅供贵公司本次股东会之目的使用，不得被其他任何人用于其 他任何目的。本所律师同意将本法律意见书随贵公司本次股东会其他信息披露资 料予以公告。 - 1 - 法律意见书 本所律师根据现行有效的中国法律、法规及规范性文件的要求 ...

2 / 7 新疆八一钢铁股份有限公司 2026 年第一次临时股东会会议资料 二○二六年三月 1 (SH 600581) 2026 年第一次临时股东会会议资料 目 录 | 2026 | 年第一次临时股东会会议议程 | 3 | | --- | --- | --- | | 议案 | 1：关于改选第九届董事会部分非独立董事的议案 | 5 | | 议案 | 2：关于修订<八一钢铁董事会议事规则><八一钢铁股东会议事规则>的议案 .. | 7 | (SH 600581) 2026 年第一次临时股东会会议资料 2026 年第一次临时股东会会议议程 一、会议召开基本事项 （一）会议时间： 1.现场会议时间：2026 年 3 月 17 日（星期二）上午 10:30 2.网络投票时间：2026 年 3 月 17 日（星期二） 9:15-9:25，9:30-11:30，13:00-15:00 （二）会议地点：新疆乌鲁木齐市头屯河区新钢路公司三楼会议室 （三）会议方式：现场结合网络投票方式 （四）会议主持人：何宇城 董事长 （五）参加会议人员 1.股权登记日(2026 年 3 月 6 日）收市后在册的公司股东，并可以以书面形 式委托 ...

Investment Rating - The report suggests a positive outlook for the steel industry, indicating a potential improvement in profitability and a favorable supply-demand balance for leading companies [4][20]. Core Insights - The steel industry is undergoing a transformation with the introduction of the "Regulatory and Leading Enterprises" classification, which aims to optimize the industry structure and enhance competitiveness [4][12]. - The Ministry of Industry and Information Technology has published a list of 230 enterprises that meet the new regulatory conditions, including 35 leading enterprises, which will benefit from preferential policies and financing opportunities [4][11]. - The report highlights significant price increases in various steel sub-sectors, with notable gains in plate and special steel segments, indicating a robust market performance [6][8]. - The report emphasizes the importance of technological innovation and digital transformation in the steel industry, with companies like Fangda Special Steel and Zhangxuan Technology implementing smart systems to enhance production efficiency and reduce costs [14][16][17]. Summary by Sections Weekly Market Performance - The steel sub-sectors, including plates, special steels, and pipes, saw price increases of 12.77%, 11.42%, and 4.44% respectively for the week ending March 1, 2026 [6][7]. - Year-to-date, special steel, plate, and pipe sectors have increased by 17.23%, 16.43%, and 15.27% respectively [6][7]. Important Industry Events - The first batch of enterprises meeting the 2025 regulatory conditions was announced, which includes 230 companies categorized into regulatory and leading enterprises [11][12]. - During the Two Sessions, some steel companies were instructed to reduce furnace loads by 30% to improve air quality [13]. Key Company Announcements - Notable transactions and shareholder meetings were reported for companies such as Baogang Group and Chongqing Steel, indicating active corporate governance and market engagement [19]. Investment Recommendations - The report recommends focusing on leading companies with stable dividends, high technical barriers, and those in the upstream resource sector, suggesting specific companies for potential investment [20].

Investment Rating - The steel industry is rated as "Positive" [2] Core Viewpoints - The steel sector has shown a recovery in valuation, with the market performance this week indicating an 11.80% increase, outperforming the broader market [2][11] - The report highlights that the supply pressure is limited, with the overall inventory at a relatively low historical level, and the profit margins for common steel are improving [4][40] - The investment suggestion emphasizes the potential for long-term strategic opportunities in the steel sector, particularly for high-quality steel companies [4] Supply Situation - As of February 27, the capacity utilization rate for blast furnaces among sample steel companies is 87.5%, an increase of 1.04 percentage points week-on-week [3][22] - The production of five major steel products reached 6.984 million tons, a week-on-week decrease of 79,400 tons, or 1.12% [3][22] - Daily average pig iron production is 2.3328 million tons, which is an increase of 27,900 tons week-on-week and 57,700 tons year-on-year [3][22] Demand Situation - The consumption of five major steel products was 5.647 million tons, a week-on-week decrease of 688,400 tons, or 10.87% [3][32] - The transaction volume of construction steel among mainstream traders was 35,000 tons, down 3.25% week-on-week and 48.24% year-on-year [3][32] Inventory Situation - Social inventory of five major steel products reached 12.958 million tons, an increase of 1.1378 million tons week-on-week, or 9.63% [40] - Factory inventory of five major steel products was 5.504 million tons, an increase of 20.49% week-on-week [40] Price & Profit Situation - The comprehensive index for common steel is 3,406.0 CNY/ton, a week-on-week decrease of 3.56 CNY/ton [46] - The profit for rebar produced in blast furnaces is 83 CNY/ton, an increase of 15.0 CNY/ton week-on-week [54] - The average cost of pig iron is 2,332 CNY/ton, a week-on-week decrease of 11.0 CNY/ton [54] Investment Recommendations - Focus on regional leading companies with advanced equipment and environmental standards such as Hualing Steel, Shougang, and Shandong Steel [4] - Consider companies with excellent growth potential and restructuring plans like Baosteel and Nanjing Steel [4] - Pay attention to special steel companies benefiting from the new energy cycle such as CITIC Special Steel and Jiuli Special Materials [4]

Core Viewpoint - The resignation of the chairman and general manager of Bayi Steel raises concerns about the company's future, including potential delisting risks due to negative net asset projections [1][5]. Group 1: Management Changes - Bayi Steel announced the resignation of chairman Ke Shanliang and general manager Liu Wenzhuang due to work reasons [1]. - The company held a board meeting on February 26, 2026, to elect He Yucheng as the new chairman and Zhang Zhigang as the new general manager, with terms lasting until the end of the current board's tenure [1][3]. - The resignations occurred shortly after both were re-elected in November 2025, indicating a rapid leadership turnover [3]. Group 2: Regulatory Issues - Prior to their resignations, Ke Shanliang and Liu Wenzhuang faced regulatory penalties for information disclosure violations related to non-operating fund transactions between 2022 and 2024 [4]. - The Xinjiang Securities Regulatory Bureau imposed fines totaling 300 million yuan on Bayi Steel and 400 million yuan on its controlling shareholder, along with individual fines for the chairman and general manager [4]. Group 3: Delisting Risks - Following the board changes, Bayi Steel faces delisting risks, as the company projected a negative net asset value between -1.76 billion yuan and -1.95 billion yuan by the end of 2025 [5]. - This projection may trigger delisting warnings under the Shanghai Stock Exchange's regulations, potentially leading to the company's stock being marked with "*ST" [5].

Group 1 - The company will hold its first extraordinary general meeting of 2026 on March 17, 2026, at 10:30 AM in Urumqi, Xinjiang [2][10] - Voting will be conducted through a combination of on-site and online methods, utilizing the Shanghai Stock Exchange's network voting system [3][5] - Shareholders must register to attend the meeting, with registration available on March 16, 2026, from 10:00 AM to 5:00 PM [13][14] Group 2 - The board of directors has approved the election of He Yucheng as the new chairman and Zhang Zhigang as the new general manager [25][58] - The board meeting that led to these decisions was held on February 26, 2026, and all resolutions were passed unanimously [24][26] - The company has revised its board and shareholder meeting rules to comply with updated regulatory requirements [30][52] Group 3 - The company anticipates a negative net asset value for the year ending 2025, which may lead to a risk warning for delisting [53][54] - The expected net asset value is projected to be between -1.76 billion and -1.95 billion yuan [54] - If the negative net asset value is confirmed, the company's stock may be suspended and marked with a delisting risk warning [55][56]

Core Viewpoint - The recent resignation of key executives at Ba Yi Steel, including the chairman and general manager, highlights internal challenges and regulatory scrutiny faced by the company, which is also at risk of being delisted due to negative net assets [1][2][3]. Group 1: Executive Changes - Ba Yi Steel announced the resignation of chairman Ke Shanliang and general manager Liu Wenzhuang due to work reasons, with the new chairman being He Yucheng and Zhang Zhigang returning as general manager [1][2]. - The board meeting to elect new executives was conducted via remote voting, and the announcement did not express gratitude for the departing executives, which is atypical for such transitions [2]. Group 2: Regulatory Issues - Both Ke and Liu faced regulatory penalties for information disclosure violations, which included failing to timely transfer certain construction projects to fixed assets, resulting in an understatement of depreciation by 18.9453 million yuan for 2024 [2][3]. - The company is under scrutiny for significant non-operating fund transactions with its controlling shareholder, Ba Yi Steel Group, which were not disclosed as required by securities law [3]. Group 3: Financial Outlook - Ba Yi Steel is projected to have negative net assets by the end of 2024, which may lead to a delisting risk warning from the Shanghai Stock Exchange [3].

证券代码：600581 证券简称：八一钢铁 公告编号：临 2026-010 新疆八一钢铁股份有限公司 关于股票可能被实施退市风险警示的第二次提示性 公告 根据公司于 2026 年 1 月 26 日披露的《八一钢铁关于股票可能被实施退市风险 警示的风险提示公告》（公告编号：临 2026-002），公司预计 2025 年末净资产为 -17.60 亿元到-19.50 亿元。上述预计数据将触及《上海证券交易所股票上市规则》 第 9.3.2 条之"（二）最近一个会计年度经审计的期末净资产为负值，或追溯重述 后最近一个会计年度期末净资产为负值"规定的对股票交易实施退市风险警示的情 形。公司在 2025 年年度报告披露后，公司股票将可能被实施退市风险警示（在公司 股票简称前冠以"*ST"字样）。 二、公司股票停牌情况及退市风险警示实施安排 如公司2025年年报披露后，期末净资产为负值，或追溯重述后最近一个会计年 度期末净资产为负值，触及《上海证券交易所股票上市规则》第9.3.2条第一款第（二） 项情形，公司股票将于2025年年度报告披露日起开始停牌。披露日为非交易日的， 于次一交易日起开始停牌。根据《上海证券交易所股票上市 ...