股票代码：600808 股票简称：马钢股份 公告编号：2025-058 马鞍山钢铁股份有限公司 董事会决议公告 马鞍山钢铁股份有限公司（"本公司"或"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个别及连带责任。 一、董事会会议召开情况 批准关于修订公司治理制度的议案。 为适应最新监管要求，进一步完善公司治理结构，根据《中华人 民共和国公司法》《上市公司章程指引》《上市公司股东会规则》，以 及《上海证券交易所股票上市规则》等相关法律法规和规范性文件的 最新规定，结合公司实际情况，同意对以下公司治理制度进行修订： 1、董事会战略与可持续发展委员会工作条例（本次修订后更名 为董事会战略与可持续发展委员会工作细则）； 2、董事会审计与合规管理委员会工作条例与董事会审核（审计） 委员会年度工作规程合并（本次修订后，董事会审计与合规管理委员 会工作条例更名为董事会审计与合规管理委员会工作细则，董事会审 核（审计）委员会年度工作规程废止）； 3、董事会提名委员会工作条例（本次修订后更名为董事会提名 委员会工作细则）； 4、董事会薪酬委员会工作条 ...

Group 1 - The Australian Anti-Dumping Commission announced preliminary anti-dumping and countervailing duties on freight railway wheels imported from China, effective December 22, 2025, with a duty rate of 36.9% for all producers except for Masteel Baowu Group, which is currently under investigation [1] - The investigation into the countervailing duties is ongoing, as there is insufficient evidence to support a preliminary affirmative determination [1] - The relevant Australian customs code for the affected products is 8607.19.00.20 [1] Group 2 - The Australian Anti-Dumping Commission initiated an anti-dumping and countervailing investigation on freight railway wheels imported from China based on a request from Commonwealth Steel Company Pty Ltd [2] - The products under investigation are forged and rolled high-carbon steel railway wheels, with diameters ranging from 27.5 inches to 37.5 inches (699 mm to 953 mm), regardless of alloy content [2] - The investigation period is set from July 1, 2024, to June 30, 2025, while the damage investigation period spans from July 1, 2021, to June 30, 2025 [2]

来源：中国网 活动在鞍钢基石矿业有限公司党委副书记、工会主席周然热情洋溢的欢迎辞中正式拉开帷幕。他着重指 出，企业青年需在理论学习的过程中筑牢理想信念，同时满怀期待地希望高校青年能够成为连接学术智 慧与产业实际的先锋力量。 报告会现场，青年宣讲员围绕学习领会党的创新理论，锚定强国建设、民族复兴的宏伟目标，生动讲述 了《以物传信，以志践行》、《秦风铮骨——西安抗战的烽火记忆》、《当雷锋精神照亮地下深处—— 我们是掘进先锋》、《科技·创新·未来：我们一直在路上》、《传承西迁薪火，致敬彭康校长》等特色 故事。各位代表从不同领域和视角分享了将理论所学转化为实践所行的体会，展现了新时代青年与时代 同频、矢志报国的担当。 "薪火"联学活动是创新青年理论武装工作模式的一次积极探索，有效整合了高校优质宣讲资源，拓展了 理论传播的实践场域，增强了青年对党的创新理论的政治认同、思想认同和情感认同。活动结合西安交 通大学建校130周年暨西迁70周年的重要节点，进一步弘扬了"西迁精神"，激励广大青年坚定理想信 念，争做担当民族复兴大任的时代新人。 为扎实推进青年理论武装工作创新发展，切实加强校企青年交流互动，近日，以"光烛：理论之河 ...

Core Viewpoint - The company is currently focused on its main business and exploring new growth avenues, with no plans to participate in new stock investments at this time [1] Group 1 - The company emphasizes its core objective of focusing on its main business and exploring new growth curves [1] - There are no current plans for the company to engage in new stock investments [1] - Future participation in such activities will depend on regulatory requirements and a comprehensive assessment of feasibility [1]

格隆汇12月15日丨马钢股份(600808.SH)在投资者互动平台表示，当前，公司以聚焦主业、探索新增长 曲线为核心目标，暂无参与新股打新的投资计划。未来，公司将根据监管要求，结合实际，综合评估该 项业务实施的可行性。 ...

Market Overview - The Shanghai Composite Index is at 3885.56 points, slightly down by 0.10%, with a total trading volume of 896.24 billion yuan [1] - As of now, 150 A-shares have surpassed the half-year line, indicating a positive market trend [1] Stocks with Significant Deviation - Notable stocks with high deviation rates include: - Aerospace Information (600271) with a deviation rate of 8.95% and a price increase of 10.00% [1] - Great Wall Electric (600192) with a deviation rate of 8.62% and a price increase of 10.02% [1] - Tiankang Biological (002100) with a deviation rate of 6.61% and a price increase of 7.35% [1] Stocks Just Above the Half-Year Line - Stocks with smaller deviation rates that have just crossed the half-year line include: - Xusheng Group (300743) with a deviation rate of 4.74% and a price increase of 7.98% [1] - Zhenxin Technology (688600) with a deviation rate of 3.68% and a price increase of 10.09% [1] - Xingye Technology (002674) with a deviation rate of 3.61% and a price increase of 10.01% [1] Additional Stocks with Positive Movement - Other stocks showing positive movement include: - Dajia Weikang (301126) with a price increase of 6.55% and a deviation rate of 3.37% [1] - Beiken Energy (002828) with a price increase of 5.04% and a deviation rate of 3.20% [1] - Huide Technology (603192) with a price increase of 3.96% and a deviation rate of 2.94% [1]

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]

Core Viewpoint - The steel industry is expected to experience a reduction in production capacity and an improvement in quality, leading to stabilization in prices and profits in 2026 [1] Group 1: Supply - A new capacity replacement policy is set to be implemented, which is expected to continue reducing crude steel production in 2026 [6] - The capacity replacement policy will increase the reduction ratio in non-key areas to at least 1.5:1, enhancing long-term capacity constraints [14][18] - The overall crude steel production is anticipated to decrease year-on-year due to differentiated production restrictions and proactive production control by enterprises [6][28] Group 2: Demand - Investment stability and domestic demand expansion are expected to lead to a recovery in steel demand in 2026 [6] - The construction sector is projected to see a recovery in fixed asset investment, supported by policies aimed at stabilizing the real estate market [36] - Manufacturing sectors such as automotive, machinery, and home appliances are expected to maintain growth in steel demand due to supportive policies [6][57] Group 3: Costs - Steel cost pressures are expected to continue easing in 2026, with iron ore supply slightly increasing and demand stabilizing [6][61] - The global iron ore supply is projected to see a slight increase, with the four major mining companies expected to have a production growth rate of about 1.8% in 2026 [66] - The overall balance between iron ore supply and demand is expected to remain weak, with prices anticipated to fluctuate downward [6][61] Group 4: Prices and Profits - The reduction in production and improvement in quality are expected to help stabilize steel prices and profits in 2026 [6] - Demand for flat steel is expected to remain stronger than for long steel, with policies aimed at further tapping into consumption potential [6] - The anticipated decline in crude steel production, primarily driven by loss-making enterprises and policy-induced reductions, will contribute to a mild improvement in the steel supply-demand landscape [6] Group 5: Investment Recommendations - The report suggests focusing on leading companies in the ordinary steel sector and those involved in restructuring and integration, such as Baosteel, Hualing Steel, and Nanjing Steel [6] - In the special steel sector, high-performance steel products are encouraged, with companies like Jiuli Special Materials and Yongjin Co. expected to benefit from policy support [6][7]

格隆汇12月10日丨马钢股份(600808.SH)在投资者互动平台表示，公司的特钢产品主要应用在轨道交 通、能源装备、汽车及工程机械、轴承钢，以及涵盖工模具钢与海工用钢的高端制造领域。在航空航天 用特钢方面，公司当前尚未开展相关的技术储备和市场拓展。 ...

Core Viewpoint - The report highlights a significant decline in China's crude steel production, indicating a downward trend in the industry for the year 2025, with a notable year-on-year decrease of 12.1% in October alone [1]. Industry Overview - As of October 2025, China's crude steel production reached 0.7 million tons, reflecting a 12.1% year-on-year decline [1]. - From January to October 2025, the cumulative crude steel production in China was 8.2 million tons, which represents a 3.9% decrease compared to the same period in the previous year [1]. Companies Mentioned - The report references several listed companies in the steel industry, including Baosteel Co., Ltd. (600019), Ansteel Co., Ltd. (000898), Maanshan Iron & Steel Co., Ltd. (600808), Shagang Group (002075), Shougang Group (000959), Baotou Steel (600010), Taiyuan Iron & Steel (000825), Hualing Steel (000932), Hebei Iron & Steel (000709), and Bayi Steel (600581) [1]. Research Report - The insights are derived from a report by Zhiyan Consulting titled "Analysis of the Market Operation Status and Development Trends of China's Crude Steel Industry from 2026 to 2032," which provides a comprehensive analysis of the industry's future [1].