马鞍山钢铁股份有限公司 2025 年第一次临时股东大会会议资料 马鞍山钢铁股份有限公司 2025 年第一次临时股东大会议程 普通决议案： 1、关于向全资子公司增资的议案。 2 / 5 马鞍山钢铁股份有限公司 2025 年第一次临时股东大会文件之一 关于向全资子公司增资的议案 各位股东： 为落实公司战略规划，优化业务板块，促进高质量发展，公司拟将本部钢铁 主业资产（不含已停产的 3 #高炉）、负债、人员、业务，所持 15 家全资及控股 子公司的股权及所持 3 家参股公司的股权整体增资划转进入全资子公司马鞍山 钢铁有限公司（"马钢有限"）。具体情况如下： 一、增资划转情况概述 2025 年 1 月 24 日，公司与马钢有限在安徽省马鞍山市签署《增资协议》， 公司拟将本部钢铁主业资产（不含已停产的 3 #高炉）、负债、人员、业务，所持 15 家全资及控股子公司的股权及所持 3 家参股公司的股权整体增资划转进入马 钢有限。以 2024 年 7 月 31 日为基准日，经审计，公司拟增资的资产总计人民币 569.4 亿元，负债总计人民币 462.7 亿元，净资产总计人民币 106.7 亿元。 二、增资协议主体的基本情况 ...

证券代码：600808 证券简称：马钢股份 公告编号：2025-005 马鞍山钢铁股份有限公司 关于召开 2025 年第一次临时股东大会的通知 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法律责任。 重要内容提示： 股东大会召开日期：2025年2月25日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 本公告内容适用于本公司A股股东，H股股东请参见本公司在香港联合交 易所有限公司网站刊载之股东大会的通函 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025 年第一次临时股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相 结合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 2 月 25 日 13 点 30 分 召开地点：安徽省马鞍山市九华西路 8 号马钢办公楼 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 ...

HKE 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 狀態: 新提交 截至月份: 2025年1月31日 致:香港交易及結算所有限公司 馬鞍山鋼鐵股份有限公司 公司名稱: 呈交日期: 2025年2月5日 l. 法定/註冊股本變動 □ 不適用 客 1. 股份分類 普通股 股份類別 A 於香港聯交所上市 (註1) + A股 證券代號 (如上市) 600808 說明 增加多櫃檯證券代號 法定/註冊股份數目 面值 法定/註冊股本 □ 手動填寫 6,014,007,986|RMB 1 RMB 6,014,007,986 上月底結存 增加 / 減少 (-) RMB 0 本月底結存 6,014,007,986 RMB 1 RMB 6,014,007,986 是 2. 股份分類 普通股 股份類別 H 於香港聯交所上市 (註1) 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 上月底結存 1,732,930,000 RMB 1 RMB 1,732,930,000 RMB 增加 / 減少 (-) 0 本月底結存 1,732, ...

股票代码：600808 股票简称：马钢股份 公告编号：2025-001 2025 年 1 月 24 日，公司第十届董事会第三十四次会议在马钢办 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。 表决结果：同意 7 票，反对 0 票，弃权 0 票。该议案已经公司董 事会战略与可持续发展委员会会议审议通过。 马鞍山钢铁股份有限公司 董事会决议公告 （二）批准公司 2025 年第一次临时股东大会议程。 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。 该股东大会将于 2025 年 2 月 25 日（星期二）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。 一、董事会会议召开情况 二、董事会会议审议情况 （一）同意关于向全资子公司增资的议案。 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 向全资子公司增资的公告》（公告编号：20 ...

一、监事会会议召开情况 2025 年 1 月 24 日，公司第十届监事会第二十三次会议在马钢办 公楼召开。会议应到监事 3 名，实到监事 3 名，监事会主席洪功翔先 生主持会议。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 股票代码：600808 股票简称：马钢股份 公告编号：2025-002 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。 监事会认为：本次增资系在公司合并报表范围内与全资子公司马 鞍山钢铁有限公司之间增资划转，有利于优化资产结构，符合公司的 整体发展战略；审议程序合法合规，不会对公司财务状况及经营成果 产生不利影响，不存在损害公司及全体股东利益的情况。 表决结果：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 1 月 24 日 审议通过关于向全资子公司增资的议案。 ...

股票代码：600808 股票简称：马钢股份 公告编号： 2025-003 马鞍山钢铁股份有限公司 关于向全资子公司增资的公告 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： 投资标的名称：马鞍山钢铁有限公司（"马钢有限"）。 投资金额：公司拟将本部钢铁主业资产（不含已停产的 3 #高炉）、负债、 人员、业务，所持 15 家全资及控股子公司的股权及所持 3 家参股公司的股权整 体增资划转进入马钢有限。以 2024 年 7 月 31 日为基准日，经审计，公司拟增资 资产总计人民币 569.4 亿元，负债总计人民币 462.7 亿元，净资产总计人民币 106.7 亿元。 本次增资划转事项已经公司第十届董事会第三十四次会议、第十届监事 会第二十三次会议审议通过，尚需提交上级主管单位审批，并需提交公司股东大 会审议。 本次交易不构成《上市公司重大资产重组管理办法》规定的重大资产重 组，不构成关联交易。 一、增资划转情况概述 2025 年 1 月 24 日，公司 ...

Financial Performance - The company expects a net profit attributable to shareholders of approximately -4.597 billion RMB for the year 2024, representing an increase in losses of about 3.270 billion RMB compared to the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is estimated to be around -4.167 billion RMB, which is an increase in losses of approximately 2.447 billion RMB year-on-year[4]. - In the previous year, the net profit attributable to shareholders was -1.327 billion RMB, and the net profit after deducting non-recurring gains and losses was -1.720 billion RMB[5]. - The company reported a loss per share of -0.1724 RMB[7]. Industry Challenges - The steel industry is undergoing a deep adjustment, characterized by "reduction in development and optimization of existing capacity," leading to significant pressure on profit margins due to market supply-demand imbalance and high raw material costs[8]. - The financial department's preliminary calculations indicate a challenging market environment for the steel industry in 2024[4]. Non-Recurring Items - The company reported a non-recurring loss of approximately 430 million RMB, primarily due to losses from the disposal of non-current assets[8]. Operational Strategy - The company continues to implement the "2343" operational strategy to optimize product structure and improve product quality, although it has not yet reversed the operating loss situation[8]. Earnings Forecast - The earnings forecast data is preliminary and has not been audited, with detailed audited financial data to be disclosed in the 2024 annual report[10]. - There are no significant uncertainties affecting the accuracy of this earnings forecast[9].

Summary of Conference Call Company Overview - The conference call involved Ma Steel, discussing its recent operational performance and market conditions. Key Points Operational Performance - In Q4, Ma Steel's production volume remained stable or slightly increased compared to Q3, indicating a steady operational performance [1] - The company's main product, plate steel, has seen strong demand from the manufacturing sector, maintaining high production and sales levels throughout the year [2] Profitability and Market Conditions - The profitability of plate steel remains advantageous despite an oversupply in the market, as construction demand has not fully compensated for the decline in real estate demand [2] - The special steel segment, particularly the high-quality steel, is not separately reported, making it difficult to assess its revenue and profitability accurately [3] Production Capacity and Utilization - The new steel production line is currently operating at about 60% capacity, with profitability not yet achieved due to high depreciation costs [4][5] - Efforts to improve capacity utilization have been limited due to a downturn in the construction industry, leading to the shutdown of some production lines [5] Future Development and Investment - The company is focusing on developing special steel products, including spring steel, and is committed to enhancing customer relationships to improve capacity utilization [6] - There are plans to transfer the steel business to a subsidiary for better asset integration and management, although specific future plans remain uncertain [9][10] Environmental and Regulatory Compliance - Ma Steel has achieved an A-level environmental certification, indicating compliance with environmental standards, which is expected to reduce future capital expenditures on environmental projects [16] Market Dynamics - The manufacturing sector has shown resilience, with Ma Steel holding a significant market share in plate steel, particularly in the appliance sector due to its proximity to manufacturing hubs [17] - Export volumes are projected to increase, with expectations of reaching 1.3 million tons in 2024, driven by better profitability compared to domestic sales [18] Strategic Partnerships and Integration - The integration with Baosteel Group has led to improved operational efficiencies, including procurement and production management [13][14] Conclusion - Overall, Ma Steel is navigating a challenging market environment with a focus on maintaining production levels, improving profitability, and enhancing operational efficiencies while adapting to regulatory changes and market demands [12][17]

Investment Rating - The report maintains a "Hold" rating for the company A/H with a target price of 3.02 RMB and 1.48 HKD [2][39]. Core Views - The company is positioned as a core strength in special long materials and an important player in plate and strip materials within the China Baowu Steel Group. The company has a total production capacity of 20.5 million tons as of the end of 2023 [18][37]. - The steel industry has faced downward pressure on prices due to declining domestic demand since 2024, with the decline in prices outpacing that of raw materials, leading to industry-wide profit compression. The company reported a total loss of 2.535 billion RMB in the first three quarters of 2024 [7][59]. - The recovery of industry profits is seen as a key factor for the company's performance turnaround, with expectations for improved profitability in 2025-2026 due to potential policy implementations and demand stimulation [7][37]. Summary by Sections Financial Forecasts - The company is projected to have a net profit attributable to shareholders of -2.897 billion RMB in 2024, followed by a profit of 93.44 million RMB in 2025 and 1.179 billion RMB in 2026. The corresponding EPS is expected to be -0.37 RMB, 0.01 RMB, and 0.15 RMB respectively [2][8]. - Revenue forecasts indicate a decline from 98.938 billion RMB in 2023 to 84.144 billion RMB in 2024, with further decreases to 81.326 billion RMB in 2025 and 80.165 billion RMB in 2026 [8][64]. Production and Sales - The company expects to maintain steel production and sales at 20.28 million tons from 2024 to 2026, reflecting historical consistency in production and sales volumes [5]. - The company’s product lines include long materials such as rebar and wire rods, and flat products like hot-rolled and cold-rolled sheets, with production figures for 2023 being 1.03 million tons for long materials and 0.942 million tons for flat products [18][58]. Market Conditions - The report highlights that the average gross margin for major steel products in China has been in a loss state throughout 2024, with long material prices down by an average of 8.81% and flat material prices down by 10.10% year-on-year [7][59]. - The report anticipates that if supply-side policies are effectively implemented, steel prices may stabilize in 2025-2026, with iron ore prices expected to decline more than steel prices, potentially improving industry profitability [7][43][61].

Group 1 - The company Ma'anshan Iron & Steel Co., Ltd. has been established with a registered capital of 1 billion yuan [2] - The legal representative of the newly established company is Jiang Yuxiang [2] - The business scope of the company includes sales of metal materials, high-quality special steel materials, special equipment sales, and manufacturing of metal materials [2] Group 2 - The company is wholly owned by Ma'anshan Iron & Steel Co., Ltd. according to the equity penetration data from Qichacha [1]