Financial Performance - The company's operating revenue for Q1 2024 was CNY 20,391,635,931, representing a decrease of 10.31% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was a loss of CNY 310,998,961, and the net profit after deducting non-recurring gains and losses was a loss of CNY 424,082,999[4]. - The net profit attributable to shareholders decreased by approximately RMB 238 million compared to the previous year[13]. - Net profit for Q1 2024 was a loss of ¥345.64 million, an improvement from a loss of ¥583.45 million in Q1 2023[20]. - The total comprehensive income for Q1 2024 was a loss of ¥353.83 million, compared to a loss of ¥595.32 million in Q1 2023[20]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY 1,307,684,219, a decline of 178.92% year-on-year[4]. - The company reported a cash outflow from operating activities of ¥1.31 billion in Q1 2024, compared to an inflow of ¥1.66 billion in Q1 2023[21]. - Cash and cash equivalents at the end of Q1 2024 were ¥3.79 billion, down from ¥3.95 billion at the end of Q1 2023[22]. - The company achieved a cash inflow from financing activities of ¥1.21 billion in Q1 2024, compared to an outflow of ¥2.85 billion in Q1 2023[22]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 85,306,511,263, an increase of 0.89% from the end of the previous year[5]. - The company’s total assets as of March 31, 2024, amounted to RMB 85.31 billion, an increase from RMB 84.55 billion at the end of 2023[17][18]. - The company’s total liabilities as of March 31, 2024, were RMB 53.37 billion, compared to RMB 52.27 billion at the end of 2023[17]. - The company’s short-term borrowings rose to RMB 11.43 billion, compared to RMB 9.43 billion at the end of 2023[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 151,678, with the largest shareholder holding 47.31% of the shares[8]. - The largest shareholder, Ma Steel (Group) Holding Co., Ltd., held 3,664,749,615 shares, representing 47.31% of the total shares[9]. - The equity attributable to shareholders of the listed company decreased by 1.12% to CNY 27,457,160,113 compared to the end of the previous year[5]. - The company’s equity attributable to shareholders decreased from RMB 27.77 billion at the end of 2023 to RMB 27.46 billion[18]. Production and Sales - In Q1 2024, the company produced 4.5 million tons of pig iron and 4.91 million tons of crude steel, with steel production decreasing by 7.1% year-on-year[13]. - The company reported a significant decrease in cash inflow from both sales and purchases, attributed to weak demand in the steel industry[7]. - The company’s inventory increased to RMB 11.64 billion, up from RMB 9.92 billion at the end of 2023[16]. - The company’s steel exports increased by 62.7% year-on-year in Q1 2024[13]. - The average domestic steel price index decreased by 5.61% year-on-year[13]. Research and Development - Research and development expenses for Q1 2024 were ¥227.79 million, a decrease of 15% from ¥267.70 million in Q1 2023[19]. - The company launched new products including high-pressure boiler steel and participated in the 2024 China Intelligent Electric Vehicle Technology and Supply Chain Exhibition[13]. Financial Ratios - The weighted average return on net assets was -1.13%, an increase of 0.63 percentage points compared to the previous year[4]. - Earnings per share for Q1 2024 was -¥0.04, an improvement from -¥0.07 in Q1 2023[20]. - The company recorded a financial expense of ¥155.06 million in Q1 2024, compared to ¥148.70 million in Q1 2023[19]. Operating Costs - Total operating revenue for Q1 2024 was ¥20.39 billion, a decrease of 10.3% compared to ¥22.74 billion in Q1 2023[19]. - Total operating costs decreased to ¥20.86 billion in Q1 2024 from ¥23.39 billion in Q1 2023, representing a reduction of 10.8%[19].

Financial Performance - The company's operating revenue for 2023 was CNY 98.94 billion, a decrease of 3.15% compared to CNY 102.15 billion in 2022 [16]. - The net profit attributable to shareholders of the parent company for 2023 was a loss of CNY 1.33 billion, compared to a loss of CNY 857.62 million in 2022 [16]. - The net cash flow from operating activities decreased by 70.01% to CNY 1.99 billion in 2023 from CNY 6.64 billion in 2022 [16]. - The total assets at the end of 2023 were CNY 84.55 billion, down 12.74% from CNY 96.89 billion at the end of 2022 [17]. - The basic earnings per share for 2023 was -CNY 0.1724, compared to -CNY 0.1150 in 2022 [18]. - The company's net profit for the first quarter of 2023 was a loss of CNY 509 million, while the second quarter loss was CNY 1.73 billion [19]. - The net assets attributable to shareholders of the listed company decreased by 4.90% to CNY 27.77 billion at the end of 2023 from CNY 29.20 billion at the end of 2022 [17]. - The weighted average return on net assets for 2023 was -4.67%, a decrease of 1.90 percentage points from -2.77% in 2022 [18]. - The group’s operating revenue for the reporting period was RMB 98,938 million, a decrease of 3.15% year-on-year, while the net loss attributable to shareholders was RMB 1,327 million, an increase in loss of 54.64% year-on-year [35]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG, ensuring the accuracy and completeness of the financial statements [7]. - The internal control system was confirmed to be effective, ensuring compliance with internal control standards and risk management practices [58]. - The company has maintained compliance with relevant laws and regulations that significantly impact its operations during the reporting period [98]. - The company’s governance practices are in compliance with relevant laws and regulations, with no significant discrepancies noted [124]. - The company appointed KPMG Huazhen as the auditor for the fiscal year 2023, with a total remuneration of RMB 3.08 million, including RMB 340,000 for internal control audit fees [117]. Shareholder Information - The company reported a profit distribution plan for 2023, stating that no dividends will be distributed and no capital reserve will be converted into share capital [7]. - As of December 31, 2023, the company had 147,885 A-share shareholders holding a total of 6,014,007,986 shares, and 927 H-share shareholders holding 1,732,930,000 shares [122]. - The market capitalization of the company as of December 31, 2023, was approximately RMB 18.29 billion, with A-shares closing at RMB 2.72 and H-shares at HKD 1.23 [123]. - The public holding ratio of H-shares was 79.3%, meeting the requirements of the Hong Kong Stock Exchange [122]. - The company held 9 telephonic or video meetings with investors during the reporting period, engaging with nearly 50 institutions and over 200 participants [121]. Risk Management - The company is facing potential risks in its future development, which are detailed in the management discussion and analysis section of the report [7]. - The company has established a comprehensive risk management framework for its futures trading, including strict trading management and evaluation systems [77]. - The company aims to optimize its foreign exchange asset-liability structure and control foreign exchange risks to reduce financial costs [78]. - The company is focusing on risk prevention in key areas, including energy control and environmental protection, to mitigate potential operational risks [94]. - The company conducts quarterly assessments of risks that may impact overall business objectives and reports findings to the board [115]. Environmental and Social Responsibility - The company invested approximately 3.383 billion yuan in environmental protection during the reporting period [163]. - The company and its subsidiaries are classified as key pollutant discharge units, adhering to national emission standards for the steel industry [164]. - The total emissions of particulate matter from Maanshan Iron & Steel Co., Ltd. were 6,958 tons, including 5,176 tons from organized emissions and 1,781 tons from unorganized emissions [167]. - The company generated 1,124.38 thousand tons of solid waste, with 315.66 thousand tons disposed of and 808.72 thousand tons compliant [168]. - The company invested CNY 2.036 million in social responsibility projects, benefiting over 20,000 people through targeted assistance and charitable donations [178]. Corporate Governance - The board of directors consists of seven members, with four independent non-executive directors, accounting for 57% of the board [100]. - The board has established four committees: Strategy and Sustainable Development, Audit and Compliance Management, Nomination, and Remuneration, each with specific responsibilities [104]. - The company has a formal and transparent process for the nomination and election of directors, with a three-year term for board members [109]. - The company emphasizes continuous professional development for its board members, with training sessions covering regulatory updates and compliance requirements [112]. - The company has a performance evaluation process for directors and senior management, which is reviewed by the remuneration committee [136]. Operational Efficiency - The company achieved record production levels, with annual output of 9.73 million tons in steel and 5.42 million tons in cold rolling, marking historical highs [23]. - The company has enhanced its competitive edge by integrating into the China Baowu ecosystem, optimizing operational processes, and improving resource allocation through deep collaboration across various functions [30]. - The company aims to strengthen cooperation with surrounding regions to expand its market presence and achieve sustainable development [31]. - The company is implementing a new operational responsibility system to enhance performance accountability and optimize resource allocation [86]. - The company plans to optimize its production efficiency, aiming for an average steel output of over 1,000 tons per employee [89]. Research and Development - The company holds 2,283 effective patents, including 1,292 invention patents and 991 utility model patents, indicating significant achievements in technological innovation [34]. - The company's research and development expenses increased by 5.46% to RMB 1,231 million, reflecting ongoing investment in innovation [36]. - The company has increased R&D investment to overcome technical bottlenecks and improve product quality, thereby enhancing its market competitiveness [30]. - The company aims to enhance its core competitiveness through technological innovation, focusing on key industries such as transportation, marine engineering, and energy [85]. - The company is increasing its R&D investment to strengthen its technological innovation capabilities and support high-quality development [89]. Market and Product Development - New product development increased by 25% year-on-year, with seven new products launched domestically, including successful development of C-shaped and hat-shaped steel [23]. - The average sales profit margin for the steel industry was 1.32%, a decrease of 0.17 percentage points year-on-year, significantly lower than the national industrial average by 4.44 percentage points [28]. - The company has developed a unique product structure with four main categories, allowing for flexible resource allocation and timely adjustments to product strategies based on market demand [32]. - The company is committed to high-end manufacturing, targeting the transformation of its product lines towards functional and industrial materials [88]. - The company is focusing on green and low-carbon product development, including the creation of a carbon data management platform and low-carbon product certification [88].

Investment Rating - The report maintains a "Buy" rating for the company [2][3]. Core Views - The company's performance in 2023 was slightly below expectations, primarily due to a larger decline in steel prices compared to raw material prices, leading to short-term pressure on earnings. However, the report is not pessimistic about the supply-demand dynamics in the steel industry for 2024, anticipating a gradual recovery in industry profitability [2]. - The company's revenue for 2023 was CNY 98.938 billion, a year-on-year decrease of 3.15%, and the net profit attributable to shareholders was CNY -1.327 billion, down 54.75% year-on-year. The report has adjusted the net profit forecasts for 2024-2025 to CNY 0.68 million and CNY 1.20 million, respectively, and introduced a new forecast for 2026 at CNY 1.77 million [2][3]. - The report highlights the successful commissioning of the first phase of the new special steel project, which is expected to optimize the product structure and enhance profitability. The project aims to produce high-value-added steel products [2]. Summary by Sections Financial Performance - In 2023, the company's steel production and sales volume reached 20.615 million tons and 20.595 million tons, respectively, with year-on-year increases of 3.66% and 3.61%. The gross profit per ton of steel was CNY 79.14, a decrease of 52.44% year-on-year [2]. - The report projects a revenue of CNY 98.587 billion for 2024, with a slight recovery expected in subsequent years [7]. Valuation - The report assigns a price-to-book (PB) ratio of 0.86 for 2024, leading to a target price adjustment to CNY 3.09 from the previous CNY 3.39 [2][11]. - The current stock price is CNY 2.53, with a market capitalization of CNY 19.6 billion [4][3]. Industry Outlook - The report expresses a cautious optimism regarding the steel industry's demand, noting that while real estate remains a drag on demand, the impact is expected to lessen as the share of real estate demand in the steel sector declines. Infrastructure and manufacturing sectors are anticipated to maintain steady growth, which could offset the downturn in real estate [6].

股票代码：600808 股票简称：马钢股份 公告编号：2024-015 马鞍山钢铁股份有限公司 关于修订《公司章程》及其附件的公告 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。 根据公司自身情况，本公司第十届董事会第二十一次会议于 2024 年 4 月 16 日审议通过了《马鞍山钢铁股份有限公司章程及其附件修订案》，拟对《公司章 程》及其附件进行修订。修订案将提交股东大会审议批准，并提请股东大会授权 董事会依据有权机构的要求作适当的文字表述及其他调整并办理其它有关事宜 （如需）。具体修改如下： | 序号 | 章程现有内容 | 章程拟修改后的内容 | | --- | --- | --- | | | 第一条 为规范马鞍山钢铁股份有 | | | | 限公司（以下简称"公司"或"本公司"） | 第一条 为规范马鞍山钢铁股份 | | | 的经营管理，保障公司及股东的合法权 | 有限公司（以下简称"公司"或"本 | | | 益，依照《中华人民共和国公司法》（简 | 公司"）的经营管理，保 ...

董事会2024 年 4 月 16 日 马鞍山钢铁股份有限公司章程 （已经董事会审议通过，尚待股东大会批准） | - | | . | 1 | | --- | --- | --- | --- | | œ | | | | 第二条 公司注册名称：马鞍山钢铁股份有限公司（简称"马钢"），MAANSHAN IRON & STEEL COMPANY LIMITED。 | 第一章 | 总 则 | 2 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 3 | | 第三章 | 股份和注册资本 | 3 | | 第四章 | 股份增减和回购 | 4 | | 第五章 | 购买公司股份的财务资助 | 6 | | 第六章 | 股票和股东名册 | 7 | | 第七章 | 股份转让 | 9 | | 第八章 | 股东的权利和义务 | 10 | | 第九章 | 股东大会 | 12 | | 第十章 | 董事会 | 19 | | 第十一章 | 公司董事会秘书 | 28 | | 第十二章 | 总经理 | 28 | | 第十三章 | 监事会 | 29 | | 第十四章 | 党的组织 | 31 | | 第十五章 | 公司董事、监 ...

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 股票代码：600808 股票简称：马钢股份 公告编号：2024-013 该股东大会将于 2024 年 5 月 29 日（星期三）下午 1:30 在安徽 省马鞍山市九华西路 8 号马钢办公楼召开。具体内容请参见公司将另 行发出的股东大会通知。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 马鞍山钢铁股份有限公司董事会 2024 年 4 月 16 日（星期二），公司第十届董事会第二十一次会 议以书面决议案方式召开，会议应出席董事 7 名，实际出席董事 7 名。 本次董事会会议的召开符合有关法律法规及公司章程的规定。 2024 年 4 月 16 日 表决结果：同意 7 票，反对 0 票，弃权 0 票。提名蒋育翔先生作 为公司第十届董事会非独立董事候选人事项已经公司董事会提名委 员会审议通过。具体内容详见本公司同日发布的《马鞍山钢铁股份有 限公司关于更换非独立董事的公告 ...

根据相关规定，公司将蒋育翔先生作为董事候选人提交公司计划 于 2024 年 5 月 29 日召开的 2024 年第一次临时股东大会审议，如获 批准，其董事任期将自该次股东大会批准起至公司第十届董事会届满 之日（即 2025 年 12 月 1 日）止。丁毅先生自该次股东大会结束起将 不再担任公司董事、董事长及董事会战略与可持续发展委员会委员、 主席，以及董事会提名委员会委员职务。 特此公告。 马鞍山钢铁股份有限公司 股票代码：600808 股票简称：马钢股份 公告编号：2024-014 马鞍山钢铁股份有限公司 关于更换董事的公告 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。 近日，公司收到董事长丁毅先生辞呈，丁毅先生因工作另有安排 决定自公司股东大会选举产生新任董事起辞去本公司董事、董事长及 董事会战略与可持续发展委员会委员、主席，以及董事会提名委员会 委员职务，并确认其与公司董事会和公司无任何不同意见，亦无任何 其他事项需要通知公司股东及债权人。 丁毅先生在担任本公司董事、董事 ...

马鞍山钢铁股份有限公司 独立董事 2023 年度达职报告 (一) 任期内,出席股东大会、董事会会议情况 本人应参加股东大会5次,实际参加5次;应参加董事会11次,实际参 加11次,其中5次现场会议、6次通讯会议。会前,本人认真审阅会议议案 及相关材料,为会议的讨论和决策做好准备;会上,本人积极听取汇报, l 并提出专业建议,审慎行使表决权,负责地对各项议案进行了投票;会后, 本人主动跟进了解议案落实情况。任期内,本人赞成董事会审议的各项议 案,未投弃权或反对票。 (二)任期内,参与董事会专门委员会、独立董事专门会议工作情况 本人张春霞,于2023年1月1日至11月30日("任期")任马鞍山钢铁股 份有限公司("公司"或"公司")独立董事,严格按照《公司法》《证券法》 《上市公司独立董事管理办法》等法律法规、规范性文件及《公司章程》 《独立董事工作制度》等公司规章制度,本着对全体股东尤其是中小股东 负责的态度,充分发挥自身专业优势,坚持忠实、勤勉、独立、公正地履 行职责。现将任职期间的履职情况汇报如下: 一、基本情况 张春霞女士:60岁,博士,教授级高级工程师。1994年8月至2018 年 3月任职于钢铁研究总 ...

马鞍山钢铁股份有限公司 独立董事 2023年度述职报告 本人仇圣桃,自2023年11月30日起任马鞍山钢铁股份有限公司("公 司"或"公司")独立董事,严格按照《公司法》《证券法》《上市公司 独立董事管理办法》等法律法规、规范性文件及《公司章程》《独立董事 工作制度》等公司规章制度,本着对全体股东尤其是中小股东负责的态度, 充分发挥自身专业优势,坚持忠实、勤勉、独立、公正地履行职责。现将 任期内的履职情况汇报如下: 一、基本情况 仇圣桃:59 岁,博士,正高级工程师,博士生导师,享受国务院特 殊津贴专家。2003 年至今,任钢铁研究总院连铸技术国家工程研究中心 副主任。2008年至今,任中达连铸技术国家工程研究中心有限公司副总 经理。2023年11月 30日起,任公司独立董事及董事会审计与合规管理 委员会("审计委员会")委员、提名委员会委员、薪酬委员会委员。 任期内,本人任职符合中国证监会《上市公司独立董事管理办法》等 关于上市公司独立董事的任职要求,持续保持独立性。 二、年度履职概况 (一) 出席股东大会、董事会会议情况 任期内,本人应参加股东大会1次,实际参加1次;应参加董事会2次, 实际参加2次,其中 ...

马鞍山钢铁股份有限公司 独立董事 2023年度试职报告 本人管炳春作为马鞍山钢铁股份有限公司("公司"或"公司")独 立董事,严格按照《公司法》《证券法》《上市公司独立董事管理办法》 等法律法规、规范性文件及《公司章程》《独立董事工作制度》等公司规 章制度,本着对全体股东尤其是中小股东负责的态度,充分发挥自身专业 优势,坚持忠实、勤勉、独立、公正地履行职责。现将2023年度履职情况 汇报如下: 一、基本情况 报告期,本人应参加股东大会5次,实际参加5次;应参加董事会13 次,实际参加13次,其中6次现场会议、7次通讯会议。会前,本人认真审 阅会议议案及相关材料,为会议的讨论和决策做好准备;会上,本人积极 1 听取汇报,并提出专业建议,审慎行使表决权,负责地对各项议案进行了 投票;会后,本人主动跟进了解议案落实情况。报告期,本人赞成董事会 审议的各项议案,未投弃权或反对票。 (二) 参与董事会专门委员会、独立董事专门会议工作情况 1、薪酬委员会 管炳春先生:59岁,教授级高级工程师。1988年10月至2002年12 月,先后任原冶金工业部质量司副处长、处长,国家冶金工业局行业管理 司处长,中国冶金工业质量体系认 ...