Investment Rating - The report maintains a "Recommendation" for the steel industry, indicating a positive outlook for investment opportunities [6]. Core Viewpoints - The steel industry is experiencing a warming sentiment combined with cost support, leading to a strong performance in steel prices. The report notes that the prices for five major steel products have shown weekly increases, with rebar prices reaching 3,316 CNY/ton, reflecting a 0.83% increase week-on-week [1][2]. - The Ministry of Industry and Information Technology is set to introduce a work plan aimed at stabilizing growth in key industries, including steel, which is expected to optimize supply structure and eliminate outdated production capacity [3]. - The report suggests that the steel industry is likely to see a long-term recovery in both valuation and performance, driven by improved profitability and a reduction in production capacity in certain regions [4][5]. Summary by Sections 1. Weekly Market Review - As of July 18, 2025, the prices for five major steel products are as follows: rebar at 3,316 CNY/ton, wire rod at 3,629 CNY/ton, hot-rolled coil at 3,345 CNY/ton, cold-rolled coil at 3,775 CNY/ton, and medium plate at 3,425 CNY/ton, with weekly changes of +0.83%, +0.76%, +1.47%, +1.16%, and +0.91% respectively [1][15]. - The total production of the five major products reached 8.6819 million tons, a decrease of 45,300 tons week-on-week [1]. - The average daily molten iron output from 247 steel enterprises was 2.4244 million tons, an increase of 26,300 tons week-on-week, with a blast furnace capacity utilization rate of 90.89%, up by 0.99 percentage points [1][18]. 2. Key Industry Data Tracking (a) Production Data - The report highlights that the production data indicates a slight increase in iron output and a recovery in electric arc furnace operation rates, suggesting a stabilization in the industry despite seasonal demand weakness [2][18]. (b) Consumption Volume of Five Major Steel Products - The total consumption of the five major products was 8.7011 million tons, reflecting a decrease of 29,600 tons week-on-week, with specific changes in consumption for rebar, wire rod, hot-rolled, cold-rolled, and medium plate [1][39]. (c) Inventory Situation - The total steel inventory stood at 13.3766 million tons, a decrease of 19,200 tons week-on-week, with social inventory increasing by 81,000 tons to 9.2211 million tons, while steel mill inventory decreased by 100,200 tons to 4.1555 million tons [1][51]. (d) Profitability Situation - The average molten iron cost for 114 steel mills was reported at 2,256 CNY/ton, remaining stable week-on-week. The gross profit per ton for high furnace rebar, hot-rolled coil, and cold-rolled coil was +171 CNY/ton, +146 CNY/ton, and +32 CNY/ton respectively, with slight variations noted [1][4]. 3. Stock Market Performance - The steel index closed at 2,294.69 points, with a weekly increase of 0.36%, while the overall A-share index rose by 1.40% [4][6]. - The report indicates that the overall valuation of the steel sector remains low, with specific companies showing potential for recovery in both valuation and profitability [10].

Group 1: Related Party Transactions - The company reported related party transactions amounting to 9.981 billion yuan for purchases and 3.41 billion yuan for sales, representing 48.04% of operating costs and 18.27% of operating income respectively [2][3] - The company has a significant balance of prepayments at 1.026 billion yuan, with a cash balance of 1.394 billion yuan and a debt-to-asset ratio of 99.58% [2][3] - The top four prepayment recipients are all related parties, totaling 9.26 billion yuan, which accounts for 90.27% of the prepayment balance [2][3] Group 2: Disclosure Requirements - The company is required to provide detailed disclosures regarding related party transactions, including names, relationships, transaction content, amounts, settlement methods, credit policies, and pricing mechanisms [3][4] - The company must explain the necessity and rationale for significant related party transactions, including whether any related parties serve as both suppliers and customers [3][4] - The company is also asked to clarify the reasons for fluctuations in prepayment balances at the end of each quarter and whether these practices affect normal operations [3][4] Group 3: Business Operations - The company operates in the black metal smelting and rolling processing industry, primarily engaged in steel smelting, rolling, processing, and sales [2][4] - The main products include hot-rolled coils, rebar, medium-thick plates, wire rods, profiles, hot-dip galvanized coils, bars, and cold-rolled coils [2][4] - The company has various subsidiaries and joint ventures, indicating a complex corporate structure with multiple related parties involved in its operations [5][6]

回复的专项说明 天健函〔2025〕1-50 号 上海证券交易所： 关于新疆八一钢铁股份有限公司 2024 年年度报告的信息披露监管问询函 回复的专项说明 目 录 | 目 | 录 | | | --- | --- | --- | | 一、关于关联交易…………………………………………………第 | 1—26 | 页 | | 二、关于在建工程…………………………………………………第 | 27-43 | 页 | | 三、执业资质证书…………………………………………………第 | 44-47 | 页 | 关于新疆八一钢铁股份有限公司 2024 年年度报告的信息披露监管问询函 由新疆八一钢铁股份有限公司（以下简称八一钢铁或公司）转来的《关于新 疆八一钢铁股份有限公司 2024 年年度报告的信息披露监管问询函》（上证公函 〔2025〕0834 号，以下简称问询函）奉悉。我们已对问询函中需要我们说明的 财务事项进行了审慎核查，现汇报说明如下。 一、关于关联交易 年报显示，报告期内公司向关联方采购商品、接受劳务发生额 99.81 亿元， 占营业成本的 48.04%；向关联方销售商品、提供劳务发生额 34.1 亿元，占营业 收入的 1 ...

证券代码：600581 证券简称：八一钢铁 公告编号：临 2025-040 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。 新疆八一钢铁股份有限公司（以下简称"公司、八一钢铁"）于近日收到上 海证券交易所《关于对新疆八一钢铁股份有限公司 2024 年年度报告的信息披露 监管问询函》（上证公函【2025】0834 号，以下简称"《问询函》"），公司 董事会高度重视，第一时间核查有关情况并组织人员对《问询函》中提出的问题 进行认真回复，现就《问询函》的相关问题回复如下： 一、关于关联交易 年报显示，报告期内公司向关联方采购商品、接受劳务发生额 99.81 亿元， 占营业成本的 48.04%；向关联方销售商品、提供劳务发生额 34.1 亿元，占营业 收入的 18.27%。公司期末预付款项余额 10.26 亿元，货币资金余额 13.94 亿元， 资产负债率达 99.58%。预付款项中前四名预付方均为控股股东关联方，预付余 额合计 9.26 亿元，占比 90.27%。关注到，公司预付款项余额在各季度末波动较 大，其中一季度末预付款项余额 ...

Group 1: Overall Performance of Central Enterprises - 79 central enterprise-controlled listed companies reported positive performance forecasts for the first half of the year, with 32 companies showing year-on-year net profit growth, 22 companies turning losses into profits, and 25 companies reducing losses [1] - 19 central enterprise-controlled listed companies expect a net profit increase of over 100%, with several companies achieving significant turnaround from losses [1] Group 2: Power Sector Performance - Huayin Power, a subsidiary of China Datang Group, is expected to lead the growth with a projected net profit of 180 million to 220 million yuan, representing a year-on-year increase of up to 44 times due to increased power generation and reduced fuel costs [2] - Major investments in the power grid and ultra-high voltage construction by State Grid and Southern Power Grid are expected to drive growth in related companies, with Guodian Nanzi and Baobian Electric forecasting net profit increases of 171.89% to 225.66% and 229.15%, respectively [2] Group 3: Electric Equipment and Cable Industry - Baobian Electric's profit increase is attributed to enhanced market development and increased project orders, while Baoshan Co. anticipates a net profit growth of 167.98% to 301.98% due to optimized sales policies and improved internal management [3] - New Energy Taishan is expected to turn losses into profits in the first half of the year, reflecting a positive trend in the electric cable sector [3] Group 4: Shipbuilding and Rare Earth Industries - The shipbuilding sector is experiencing significant growth, with companies like China Shipbuilding, China Power, and China Heavy Industry expecting net profit increases exceeding 200% due to effective management and increased delivery of civilian ships [5] - The rare earth industry is also thriving, with companies like China Rare Earth and Guangsheng Nonferrous Metals expected to turn losses into profits, driven by rising prices of rare earth products [4] Group 5: Turnaround Companies - 22 central enterprise-controlled listed companies are expected to turn losses into profits, with quality improvement and efficiency enhancement being key factors for their performance recovery [6] - Companies like Zhongnan Co. and Taiji Co. have reported successful turnarounds due to strengthened management and cost control measures [6][7] Group 6: Management and Efficiency Improvements - Many companies achieving year-on-year growth or reduced losses attribute their success to ongoing quality improvement and efficiency enhancement initiatives [7] - Companies are focusing on optimizing resource allocation, controlling costs, and improving operational efficiency as critical drivers of performance growth [7]

Group 1 - The steel industry has shown significant improvement in profitability in the first half of the year due to falling raw material costs and cost-cutting measures [2][4][5] - Despite the overall recovery in performance, the steel sector experienced a collective pullback in stock prices on July 15, with notable declines in companies such as China Iron Titanium and Chongqing Steel [2][4] - A total of 24 A-share steel companies have released mid-year performance forecasts for 2025, with 19 reporting substantial profit improvements, including several companies achieving double or triple-digit profit growth [4][5] Group 2 - The steel industry faces challenges from a sluggish real estate market, limited infrastructure investment, and increased export pressure, leading to a significant decline in steel prices and ongoing profitability pressure [4][6] - Companies are addressing demand contraction by eliminating outdated production capacity, optimizing product structures, and enhancing product value, which has contributed to profit recovery [5][6] - The current supply-demand dynamics in the steel industry are improving, with major steel companies announcing production cuts under the "anti-involution" policy, which is expected to strengthen supply contraction [6]

Core Viewpoint - The company, Xinjiang Bayi Iron and Steel Co., Ltd., anticipates a net loss for the first half of 2025, projecting a net profit attributable to shareholders of between -6.50 billion to -7.00 billion yuan, indicating a reduction in losses compared to the previous year [2][3]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to June 30, 2025 [3]. - The company expects a net profit attributable to shareholders of -6.50 billion to -7.00 billion yuan, and a net profit after deducting non-recurring gains and losses of -6.60 billion to -7.10 billion yuan [2][3]. Group 2: Previous Year Comparison - In the same period last year, the company reported a net profit attributable to shareholders of -7.20 billion yuan and a net profit after deducting non-recurring gains and losses of -7.27 billion yuan [5]. - The earnings per share for the previous year was -0.466 yuan [6]. Group 3: Reasons for Performance Decline - The steel industry is facing a "double weakness" in supply and demand, with slow market activation and lower-than-expected market demand affecting sales performance [7]. - The company is experiencing low steel prices, underutilization of production capacity, and a decrease in the purchase-sale price difference, which compresses profit margins [7]. - The company plans to enhance core competitiveness, improve operational conditions, control costs, and optimize resource allocation to boost profitability [7].

Group 1 - New Yi Sheng expects a net profit increase of 327.68%-385.47% for the first half of 2025, reaching between 37 billion to 42 billion yuan, driven by growth in AI-related computing power demand and product structure optimization [2][4] - Xinghui Entertainment plans to sell 99.66% of its stake in the Spanish club Espanyol for 1.3 billion euros, with half of the payment in cash and the other half in shares [3] - *ST Yushun intends to acquire 100% of three companies for a total of 33.5 billion yuan, aiming to diversify its business into data center infrastructure services and related products [4] Group 2 - Salted Fish plans to reduce its shareholding by up to 2.04%, with a major shareholder intending to sell 5,455,572 shares [5] - Lian Microelectronics expects a net loss of approximately 1.21 billion yuan for the first half of 2025 [6] - Meinian Health anticipates a net loss of 1.92 billion to 2.36 billion yuan for the first half of 2025, with revenue expected to decline by 0.12%-5.83% [7] Group 3 - Chengdi Xiangjiang forecasts a net profit of 28 million to 42 million yuan for the first half of 2025, marking a turnaround from a loss of 69.29 million yuan in the previous year [8] - Jinpu Titanium plans to acquire 100% of Nanjing Lide Oriental Rubber and Plastic Technology Co., Ltd., with stock resuming trading after the announcement [9] - Bohai Leasing expects a net loss of 1.8 billion to 2.4 billion yuan for the first half of 2025 due to goodwill impairment from a subsidiary's asset sale [10] Group 4 - Foton Motor anticipates a net profit increase of approximately 87.5% for the first half of 2025, reaching about 777 million yuan [11] - Shenwan Hongyuan expects a net profit growth of 92.66%-111.46% for the first half of 2025, estimating profits between 4.1 billion to 4.5 billion yuan [12] - Ganfeng Lithium predicts a net loss of 5.5 billion to 3 billion yuan for the first half of 2025, an improvement from a loss of 7.6 billion yuan in the previous year [13] Group 5 - Suzhou Planning intends to acquire 100% of Beijing Dongjin Aviation Technology Co., Ltd., with stock resuming trading after the announcement [14] - Xiangyang Bearing expects a net loss of approximately 13 million yuan for the first half of 2025, slightly worse than the previous year's loss [15] - Tianqi Lithium forecasts a net profit of 0 to 1.55 billion yuan for the first half of 2025, a significant improvement from a loss of 5.2 billion yuan in the previous year [16] Group 6 - Shandong Gold anticipates a net profit increase of 84.3%-120.5% for the first half of 2025, estimating profits between 2.55 billion to 3.05 billion yuan [17] - Yunnan Geology expects a net profit of 16 million to 23 million yuan for the first half of 2025, marking a turnaround from a loss in the previous year [18] - Four-dimensional Map expects a net loss of 319 million to 268 million yuan for the first half of 2025, with revenue growth of 3.07%-14.30% [19] Group 7 - Tangrenshen anticipates a net loss of 54 million to 69 million yuan for the first half of 2025, a significant decline from the previous year's profit [20] - Changbai Mountain expects a net loss of 2.58 million to 1.58 million yuan for the first half of 2025, with revenue decreasing by approximately 7.48% [21] - Jiu Gui Jiu predicts a net profit of 8 million to 12 million yuan for the first half of 2025, a decline of 90.08%-93.39% compared to the previous year [22] Group 8 - Hengsheng Electronics expects a net profit increase of 740.95% for the first half of 2025, estimating profits around 251 million yuan [23] - Qixia Construction anticipates a net profit of 5.5 million to 8 million yuan for the first half of 2025, driven by increased project completions [24] - Poly Development expects a net profit decrease of 63.15% for the first half of 2025, estimating profits around 27.35 billion yuan [25] Group 9 - Anyuan Coal anticipates a net loss of 259 million to 310 million yuan for the first half of 2025, worsening from the previous year's loss [26] - Zhonghua Equipment plans to acquire 100% of Yiyang Rubber Machine and Beihua Machine, with stock suspension expected for no more than 10 trading days [27] - Bayi Steel expects a net loss of 650 million to 700 million yuan for the first half of 2025, primarily due to weak market conditions [28] Group 10 - Yuegui Co. anticipates a net profit increase of 58.67%-77.12% for the first half of 2025, estimating profits between 215 million to 240 million yuan [29] - Dalian Friendship expects a net loss of 38 million to 30 million yuan for the first half of 2025, with revenue impacted by tax-related issues [30] - Hangfa Power expects a net profit decrease of 84.53%-86.55% for the first half of 2025, estimating profits around 80 million to 92 million yuan [31] Group 11 - Dongfang Zirconium anticipates a net profit increase of 141.77%-156.80% for the first half of 2025, estimating profits between 25 million to 34 million yuan [32] - Hangzhou Steel expects a net profit decrease of 2% from a major shareholder's planned reduction [33] - Jingao Technology predicts a net loss of 2.5 billion to 3 billion yuan for the first half of 2025, worsening from the previous year's loss [34] Group 12 - Shanshan Co. expects a net profit increase of 810.41%-1265.61% for the first half of 2025, estimating profits between 160 million to 240 million yuan [35] - Guocheng Mining anticipates a net profit increase of 1046.75%-1174.69% for the first half of 2025, estimating profits between 493 million to 548 million yuan [36] - Jindi Group expects a net loss of 3.4 billion to 4.2 billion yuan for the first half of 2025, with significant declines in revenue [37] Group 13 - Founder Securities anticipates a net profit increase of 70%-80% for the first half of 2025, estimating profits between 22.96 billion to 24.32 billion yuan [38] - Hasi Lian expects a net loss of 98 million to 80 million yuan for the first half of 2025, a significant decline from the previous year [39] - Lanhua Ketech expects a net profit decrease of 89.12%-92.75% for the first half of 2025, estimating profits between 40 million to 60 million yuan [40] Group 14 - Shanxi Securities anticipates a net profit increase of 58.17%-70.72% for the first half of 2025, estimating profits between 5.04 billion to 5.44 billion yuan [41] - Xinda Real Estate expects a net loss of 3.5 billion to 3.9 billion yuan for the first half of 2025, with significant declines in revenue [42] - Xiangcai Co. anticipates a net profit increase of 63.64%-118.19% for the first half of 2025, estimating profits between 12 million to 16 million yuan [43] Group 15 - Longi Green Energy expects a net loss of 2.4 billion to 2.8 billion yuan for the first half of 2025, despite an increase in sales volume [44] - Wentai Technology anticipates a net profit increase of 178%-317% for the first half of 2025, estimating profits between 390 million to 585 million yuan [45] - Ruida Futures expects a net profit increase of 50.56%-83.15% for the first half of 2025, estimating profits between 206 million to 251 million yuan [46] Group 16 - Debang Co. anticipates a net profit decrease of 84.26%-87.86% for the first half of 2025, estimating profits between 40 million to 52 million yuan [47] - Jin Yi Culture expects a net loss of 20 million to 32 million yuan for the first half of 2025, a significant decline from the previous year [48] - Hongdian Film expects a net profit increase of 103.55%-160.09% for the first half of 2025, estimating profits between 180 million to 230 million yuan [49] Group 17 - Qiaqia Food anticipates a net profit decrease of 71.05%-76.25% for the first half of 2025, estimating profits between 80 million to 97.5 million yuan [50] - Guotai Haitong expects a net profit increase of 205%-218% for the first half of 2025, estimating profits between 15.283 billion to 15.957 billion yuan [51] - Xining Special Steel expects a net loss of approximately 234 million yuan for the first half of 2025, with revenue impacted by low steel prices [52]

重要内容提示： 新疆八一钢铁股份有限公司 2025 年半年度业绩预亏公告 本期业绩预告适用《上海证券交易所股票上市规则》第 5.1.1 条中应当进 行预告的情形，"（一）净利润为负值；" 新疆八一钢铁股份有限公司（以下简称"公司"）预计 2025 年半年度实现 归属于母公司所有者的净利润-6.50 亿元到-7.00 亿元；预计 2025 年半年度实现归 属于母公司所有者的扣除非经常性损益后的净利润-6.60 亿元到-7.10 亿元。 证券代码：600581 证券简称：八一钢铁 公告编号：临 2025-039 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。 （二）每股收益：-0.466 元。 三、本期业绩预亏的主要原因 一、本期业绩预告情况 （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 经财务部门初步测算，预计 2025 年半年度实现归属于母公司所有者的净利润 -6.50 亿元到-7.00 亿元，与上年同期相比，实现减亏。预计 2025 年半年度实现归 属于母公司所有者的 ...

八一钢铁（600581）公告，公司预计2025年半年度实现归属于母公司所有者的净利润-6.5亿元到-7亿 元，预计2025年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-6.6亿元到-7.1亿元。 公司业绩预亏主要原因是钢铁行业整体面临"供需双弱"的局面，市场启动缓慢，市场需求低于预期，叠 加钢材价格低位运行，产能未完全发挥规模效益，购销价差同比下降，进而压缩企业利润空间。 ...