马鞍山钢铁股份有限公司（"本公司"或"公司"、"马钢股份"）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。 重要内容提示： 本公司拟向关联方宝山钢铁股份有限公司（"宝钢股份"）转让公司全 资子公司马鞍山钢铁有限公司（"马钢有限"） 35.42%股权，预计交易金额约 人民币 51.39 亿元；宝钢股份拟以现金方式向马钢有限增资人民币 38.61 亿元， 本公司放弃增资认缴权。上述交易金额仅为预计金额，最终以经有权备案机构备 案的马钢有限的净资产评估值为基准确定。 上述交易完成后，本公司持有马钢有限的股权将由 100%下降至 51%，宝 钢股份将持有马钢有限 49%股权。 本次交易构成关联交易，未构成重大资产重组。 本次交易已经公司第十届董事会第三十七次会议审议通过，尚待公司股 东大会审议。本次交易标的公司评估报告尚需有权备案机构备案。 H 股公告，另行发出。 一、关联交易概述 股票代码：600808 股票简称：马钢股份 公告编号：2025-017 马鞍山钢铁股份有限公司 关于子公司引进投资者暨关联交易公告 2025 年 4 月 ...

股票代码：600808 股票简称：马钢股份 公告编号：2025-016 表决情况为：同意 3 票，反对 0 票，弃权 0 票。 特此公告。 马鞍山钢铁股份有限公司监事会 2025 年 4 月 17 日 一、监事会会议召开情况 2025 年 4 月 17 日，公司第十届监事会第二十六次会议在马钢办 公楼召开。会议应到监事 3 名，实到监事 3 名，会议由监事会主席洪 功翔先生主持。本次监事会会议的召开符合有关法律法规及公司章程 的规定。 二、监事会会议审议情况 审议通过《关于引进宝山钢铁股份有限公司参股马鞍山钢铁有限 公司的议案》。 会议认为：该议案符合法律、法规及《公司章程》的规定，符合 公司长远发展需要，同意提呈公司股东大会审议批准。 马鞍山钢铁股份有限公司 监事会决议公告 马鞍山钢铁股份有限公司（"本公司"或"公司"）监事会及全体监事保证本 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。 ...

股票代码：600808 股票简称：马钢股份 公告编号：2025-015 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 2025 年 4 月 17 日，公司第十届董事会第三十七次会议在马钢办 公楼召开，会议应到董事 7 名，实到董事 7 名，会议由董事长蒋育翔 先生主持。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。 二、董事会会议审议情况 同意《关于引进宝山钢铁股份有限公司参股马鞍山钢铁有限公司 的议案》。 因涉关联交易，关联董事蒋育翔、毛展宏回避表决，表决结果： 同意 5 票，反对 0 票，弃权 0 票。已经独立董事专门会议审议通过。 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子公 司引进投资者暨关联交易公告》（公告编号：2025-017）。 该议案将提交公司股东大会审议，经非关联股东批准后方可实 施。股东大会通知将另行发出。 特此公告。 马鞍山钢铁股份有限公司董事会 2025 年 4 月 ...

马钢股份（600808）公告，公司拟向关联方宝山钢铁股份有限公司转让全资子公司马鞍山钢铁有限公司 35.42%股权，预计交易金额约51.39亿元；宝钢股份（600019）拟以现金方式向马钢有限增资人民币 38.61亿元，公司放弃增资认缴权。交易完成后，公司持有马钢有限的股权将由100%下降至51%，宝钢 股份将持有马钢有限49%股权。交易已经公司第十届董事会第三十七次会议审议通过，尚待公司股东大 会审议。 ...

Core Insights - The article provides a comprehensive overview of the silicon steel industry chain, highlighting its upstream, midstream, and downstream components, as well as the geographical distribution of key players and the pricing structure of the industry [1][3][5]. Industry Chain Overview - Silicon steel serves as a primary raw material for various components, with a relatively simple upstream consisting of silicon iron, industrial silicon, and synthetic metals, along with production fuels [1][3]. - The midstream involves the production and processing of various types of silicon steel, with major players including Baosteel, Shougang, and Taiyuan Iron and Steel [3][4]. - The downstream applications encompass large motors, household appliances, new energy vehicles, and transformers [1][4]. Geographical Distribution - The silicon steel industry is predominantly concentrated in North China, with upstream companies located in resource-rich regions such as Inner Mongolia, Shanxi, and Hebei [5]. - The industry chain is well-developed in East China, particularly in Jiangxi, while Central China, especially Henan, has a robust industry chain as well [5]. - Key upstream players in Inner Mongolia include Junzheng Group and Ordos Metallurgy, while major midstream companies include Baotou Steel [5]. Value Chain Dynamics - The market price of the silicon steel industry is influenced by supply, manufacturing, and application sectors, with costs driven by raw materials, labor, and energy prices [7]. - The transmission of prices from the supply side to the manufacturing side creates production costs, which then affect consumer pricing based on market demand elasticity [7]. Pricing Structure Analysis - According to Mysteel data, the average cost for domestic short-process production in 2024 is projected to be 4,690 yuan per ton, with an average gross profit of 223 yuan per ton, resulting in an overall gross margin of approximately 5% [10]. - Recent trends indicate that short-process silicon steel producers are experiencing relatively low profit margins, with some firms even facing losses [10].

Summary of the Conference Call for Maanshan Iron & Steel Company Company Overview - Maanshan Iron & Steel Company, established on September 1, 1993, is one of China's largest steel producers and sellers, with its roots tracing back to the Maanshan Iron Factory founded in 1953. The company is listed on both the Hong Kong Stock Exchange (H-shares) and the Shanghai Stock Exchange (A-shares) [1][2]. Key Points and Arguments Industry Context - The steel industry is experiencing pressure due to high supply levels, structural demand adjustments, strong export growth, and declining prices, leading to increased difficulty in profitability. The average steel price index decreased by 9.37 points year-on-year to 102.47 points in 2024, with a further drop to 95.79 points by Q1 2025 [6][7]. - The company reported a steel production decrease of 1.56%, with actual production at 19.83 million tons and revenue of RMB 81.82 billion, down 17.3% year-on-year. The net loss attributable to shareholders was RMB 4.66 billion, an increase in loss of 251.06% [7][8]. Strategic Initiatives - The company is focusing on green and low-carbon development, emphasizing smart manufacturing and digital transformation. It aims to enhance efficiency and reduce costs through a strategy termed "2343" [4][5]. - Maanshan Iron & Steel is committed to reform and innovation, with a strategic optimization plan for 2024 that includes organizational restructuring and deepening subsidiary reforms [3][4]. Financial Performance - The total assets of the company were RMB 78.96 billion, down 6.61% year-on-year, while net assets decreased by 16.25% to RMB 23.26 billion [7]. - The company’s iron and steel production costs were reported at RMB 173 per ton, lagging behind the industry average of RMB 213 per ton, indicating a cost disadvantage of RMB 40 per ton [8]. Product Development and Market Position - The company is enhancing its product differentiation and expanding sales of key products, which saw a year-on-year increase of 36.5%. New product development volume increased by 4.4% [12]. - The company is actively exploring overseas markets, with a 36% increase in product exports, including 698,000 tons of H-beams [12]. Challenges and Risks - The company faces challenges in product quality and market competitiveness, particularly in special steel products, which have a market share of only 32% [9][10]. - The company’s production efficiency is hindered by underutilized production lines, with 26.8% of lines operating below 75% capacity [8]. Environmental and Social Responsibility - Maanshan Iron & Steel is committed to environmental sustainability, with over RMB 10 billion invested in environmental protection during the 14th Five-Year Plan period. The company aims to achieve ultra-low emissions and improve waste management [37][38]. Future Outlook - The company anticipates a slight improvement in the steel market by 2025, driven by the elimination of outdated capacity and a shift towards high-quality development. However, challenges remain due to geopolitical factors and anti-dumping pressures on exports [31][33]. - The company plans to enhance its core competitiveness and create value for investors through strategic reforms and operational efficiency improvements [50][51]. Additional Important Information - The company is focusing on enhancing customer satisfaction and has received awards for its contributions to major automotive manufacturers [13]. - The company is also exploring innovative supply chain financing models to improve cash flow and reduce financial risks [21][44]. This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's current challenges and future plans in the steel industry.

（在中華人民共和國註冊成立之股份有限公司） （股票代號：00323） 馬 鞍 山 鋼 鐵 股 份 有 限 公 司（「本公司」）謹 此 宣 佈，本 公 司 將 於2025年4月29 日 舉 行 董 事 會 會 議，審 議 及 批 准 本 公 司 及 其 附 屬 公 司2025年1月1日起至 2025年3月31日止按中國會計準則編製且未經審計的第一季度業績等事項。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何 損 失 承 擔 任 何 責 任。 馬鞍山鋼鐵股份有限公司 Maanshan Iron & Steel Company Limited 承董事會命 馬鞍山鋼鐵股份有限公司 董事會會議通知 於 本 公 告 日 期，本 公 司 董 事 包 括：執 行 董 事 蔣 育 翔、毛 展 宏 及 張 文 洋； 獨 立 非 執 行 董 事 管 炳 春、何 安 瑞、仇 聖 桃 及 曾 祥 飛。 蔣育翔 董事長 2025年4月7日 中 ...

Trading Information Summary - Maanshan Iron & Steel Company (600808) closed at 3.17 yuan, up 1.6%, with a turnover rate of 0.83% and a trading volume of 497,400 shares, amounting to a transaction value of 156 million yuan [1] - The net inflow of main funds was 13.19 million yuan, accounting for 8.47% of the total transaction value; retail funds had a net outflow of 3.82 million yuan, accounting for 2.45% of the total transaction value [2][4] Company Announcement Summary - As of March 31, 2025, the legal registered capital of Maanshan Iron & Steel Company remained unchanged, with A-shares totaling 5,989,174,586 shares and H-shares totaling 1,732,930,000 shares [2][4] - The total issued shares for both A-shares and H-shares remained unchanged at 5,989,174,586 shares and 1,732,930,000 shares respectively, with zero treasury shares [2][4]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年3月31日 狀態： 新提交 く 致:香港交易及結算所有限公司 公司名稱: 馬鞍山鋼鐵股份有限公司 呈交日期: 2025年4月2日 I. 法定/註冊股本變動 ■ 不適用 普通股 ∨ 股份類別 ∨ 於香港聯交所上市（註1） 否 > 1. 股份分類 A + 證券代號（如上市） 600808 說明 |A股 增加多櫃檯證券代號 □ 手動填寫 法定/註冊股份數目 面值 法定/註冊股本 L RMB 上月底結存 5, 989, 174, 586 RMB 5, 989, 174, 586 > RMB 增加 / 減少 (-) 1 RMB 本月底結存 5, 989, 174, 586 RMB 5, 989, 174, 586 2. 股份分類 普通股 ∨ 股份類別 ▼ 於香港聯交所上市(註1) 是 > H H股 證券代號(如上市) 00323 說明 增加多櫃檯證券代號 □ 手動填寫 法定/註冊股份數目 面值 法定/註冊股本 1, 732, 930, 000 RMB 1 RMB 上月底結存 1, 732, 930, 000 > 增加 ...

Core Points - The core viewpoint of the articles highlights the significant financial losses reported by Maanshan Iron & Steel Company (Ma Steel) for the year 2024, indicating a challenging operational environment and the decision not to distribute dividends or increase capital reserves [1][2][3] Financial Performance Summary - For the year 2024, Ma Steel reported a total revenue of 81.82 billion yuan, a decrease of 17.3% year-on-year [1] - The net profit attributable to shareholders was -4.66 billion yuan, representing a decline of 251.06% year-on-year [1][3] - The net profit excluding non-recurring items was -4.30 billion yuan, down 149.98% year-on-year [1] - In Q4 2024, the company recorded a single-quarter revenue of 20.30 billion yuan, a decrease of 18.85% year-on-year [1] - The single-quarter net profit attributable to shareholders was -2.12 billion yuan, a decline of 884.82% year-on-year [1] - The single-quarter net profit excluding non-recurring items was -1.68 billion yuan, down 691.67% year-on-year [1] - The company's debt ratio stood at 65.4%, with investment income of 8.41 million yuan and financial expenses of 555 million yuan [1] - The gross profit margin was reported at -0.95% [1] Dividend and Capital Management - The company announced that it will not distribute dividends for the year 2024 and will not increase capital reserves from retained earnings [2][3] - The proposal for no profit distribution is subject to approval at the company's shareholders' meeting [2]