柳钢股份公告称，于1月19日收到上交所对公司2025年度以简易程序向特定对象发行股票申请的审核意 见，申请符合发行、上市条件和信披要求，上交所将提交中国证监会注册。本次发行尚需获中国证监会 同意注册决定方可实施，最终能否通过及时间不确定，公司将依规披露进展。 ...

Group 1 - The core viewpoint of the news is that Liugang Co., Ltd. has shown a positive stock performance with a 2.17% increase in share price on January 20, reaching 5.17 yuan per share, with a total market capitalization of 13.25 billion yuan [1] - As of September 30, the number of shareholders for Liugang Co., Ltd. increased to 62,200, a rise of 71.30% compared to the previous period, while the average circulating shares per person decreased by 41.62% to 41,230 shares [2] - For the period from January to September 2025, Liugang Co., Ltd. reported operating revenue of 50.80 billion yuan, a year-on-year decrease of 4.33%, but net profit attributable to shareholders increased significantly by 314.50% to 659 million yuan [2] Group 2 - Since its A-share listing, Liugang Co., Ltd. has distributed a total of 6.49 billion yuan in dividends, but there have been no dividend distributions in the last three years [3] - As of September 30, 2025, the third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 22.42 million shares, an increase of 4.55 million shares from the previous period [3] - New entrants among the top ten circulating shareholders include Guotai Junan Securities Co., Ltd. and the Guotai CSI Steel ETF, while several funds have exited the list [3]

Core Viewpoint - Liu Steel Co., Ltd. has received approval for a non-public stock issuance project aimed at raising up to 300 million RMB for a technology upgrade project [1] Group 1: Stock Issuance Details - The stock issuance is planned to raise a total of no more than 30,000.00 million RMB, which is capped at 20% of the company's net assets as of the end of the previous year [1][3] - The specific project for which the funds will be used is the 2800mm high-quality medium-thick plate technology upgrade project, with a total investment of 48,767.56 million RMB [2][3] - The issuance will involve no more than 35 specific investors, all of whom will subscribe in cash and have no related party relationships with the company [2][4] Group 2: Issuance Structure and Pricing - The shares will be issued as ordinary shares (A-shares) with a par value of 1.00 RMB per share, and the issuance price is set at 4.20 RMB per share [3] - The total number of shares to be issued is 71,428,571, which does not exceed 30% of the company's total share capital prior to the issuance [3] Group 3: Shareholder Structure and Control - As of September 30, 2025, the major shareholders include Guangxi Liuzhou Steel Group Co., Ltd. with a 74.57% stake and Wang Wenhui with an 8.45% stake [4] - The actual controller of the company remains the State-owned Assets Supervision and Administration Commission of Guangxi Zhuang Autonomous Region, and the issuance will not change the control of the company [4]

证券代码：601003 证券简称：柳钢股份 公告编号：2026-002 柳州钢铁股份有限公司 关于子公司增资暨关联交易的进展公告 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。 一、交易概述 因战略规划与经营发展需要，公司于2024年12月引入广西广投临港壹号产业 发展基金合伙企业（有限合伙）(以下简称"广投临港壹号基金")对控股子公司 广西钢铁集团有限公司(以下简称"广西钢铁")进行增资，原有股东放弃优先认 购权。广投临港壹号基金通过以现金认购股份方式按1.1858元/元注册资本的单 价向广西钢铁增资总金额人民币6.74亿元，其中5.6839亿元计入注册资本， 1.0561亿元计入资本公积，取得增资后广西钢铁2.3135%的股权，资金来源于广 投临港壹号基金的各合伙人出资，我公司系其有限合伙人之一，出资10100万元。 根据《增资协议》安排，广投临港壹号基金首次实缴人民币1.94亿元，剩余在交 易协议签订之日起12个月内完成实缴。本次增资事项不构成中国证监会《上市公 司重大资产重组管理办法》规定的重大资产重组，但因广西钢铁股 ...

Market Performance - The steel sector saw an increase of 0.82% on January 19, with Nanjing Steel leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Individual Stock Performance - Nanjing Steel (600282) closed at 5.46, up 3.80% with a trading volume of 700,900 shares and a transaction value of 380 million yuan [1] - Other notable performers included: - Sijiang Steel (600808) at 4.13, up 3.77% with a transaction value of 622 million yuan [1] - Hualing Steel (000932) at 5.66, up 3.28% with a transaction value of 576 million yuan [1] - Benxi Steel (000761) at 3.30, up 3.12% with a transaction value of 51.21 million yuan [1] Capital Flow Analysis - The steel sector experienced a net outflow of 179 million yuan from main funds, while retail investors saw a net inflow of 176 million yuan [2] - Notable capital flows included: - Sijiang Steel had a main fund net inflow of 84.80 million yuan, but a retail net outflow of 76.47 million yuan [3] - Hualing Steel had a main fund net inflow of 40.99 million yuan, with a retail net inflow of 0.78 million yuan [3]

Group 1 - The core viewpoint of the news is that Liugang Co., Ltd. has shown mixed performance in stock price and financial metrics, with a notable increase in net profit despite a decline in revenue [1][2]. Group 2 - As of January 19, Liugang's stock price increased by 2.03% to 5.03 CNY per share, with a total market capitalization of 12.891 billion CNY [1]. - The company experienced a net inflow of main funds amounting to 1.5482 million CNY, with large orders accounting for 14.23% of total buying [1]. - For the year-to-date, Liugang's stock price has remained unchanged, with a 1.37% decline over the past five trading days and a 2.03% increase over the past 20 days [1]. Group 3 - As of September 30, the number of Liugang's shareholders increased by 71.30% to 62,200, while the average circulating shares per person decreased by 41.62% to 41,230 shares [2]. - For the first nine months of 2025, Liugang reported a revenue of 50.798 billion CNY, a year-on-year decrease of 4.33%, while net profit attributable to shareholders increased by 314.50% to 659 million CNY [2]. Group 4 - Liugang has distributed a total of 6.491 billion CNY in dividends since its A-share listing, with no dividends paid in the last three years [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 22.4235 million shares, an increase of 4.5544 million shares from the previous period [3]. - New entrants among the top ten shareholders include Guotai Junan Securities and the Guotai CSI Steel ETF, while several funds have exited the list [3].

Investment Rating - The report maintains a "Buy" rating for the steel industry, recommending several key companies [2][3]. Core Insights - The supply-demand situation is improving, leading to a potential recovery in profits for the steel industry. The report highlights that production of major steel products has increased, while total inventory has decreased, indicating a positive shift in market dynamics [7][30]. - The report emphasizes that the profitability of steel manufacturers is expected to recover in the short term due to improved supply-demand conditions and stable cost support from raw materials [7][30]. Summary by Sections 1. Domestic Steel Market - As of January 16, steel prices have risen, with HRB400 rebar priced at 3,320 CNY/ton, up 40 CNY/ton from the previous week. Other products like high-line and hot-rolled steel also saw price increases [13][14]. 2. Production and Inventory - The total production of five major steel products reached 8.19 million tons, an increase of 0.62 million tons week-on-week. Total inventory decreased by 11,700 tons to 865,320 tons, indicating a positive trend in inventory management [7][30]. 3. Profitability - The report notes a decline in steel profits, with average margins for rebar, hot-rolled, and cold-rolled steel decreasing by 13 CNY/ton, 4 CNY/ton, and 18 CNY/ton respectively. However, the overall outlook for profit recovery remains optimistic [7][30]. 4. Key Company Recommendations - Recommended companies include: - General Steel Leaders: Hualing Steel, Baosteel, Nanjing Steel - Special Steel Sector: Xianglou New Materials, CITIC Special Steel, Fangda Special Steel - Pipe Manufacturers: Jiuli Special Materials, Youfa Group, Changbao Co. - Raw Material Sector: Dazhong Mining (iron ore + lithium ore), Fangda Carbon [7][30].

Investment Rating - The report maintains a "Buy" rating for several steel companies, including Xining Special Steel, Nanjing Steel, Hualing Steel, and Baosteel [9]. Core Insights - The steel market is experiencing a recovery in valuation, with absolute valuations moving from undervalued to moderately low levels, indicating potential for absolute returns [2]. - The report emphasizes the importance of structural reforms in the capital market, which are expected to facilitate a shift towards value investing in the steel industry [2]. - The report highlights that the demand for steel is improving, with significant increases in apparent consumption, particularly for rebar [6][41]. Supply Analysis - Daily molten iron production has decreased by 16,000 tons to 2.28 million tons, while steel production has slightly increased [15]. - The capacity utilization rate of 247 steel mills is at 85.5%, down 0.6 percentage points week-on-week but up 1.2 percentage points year-on-year [21]. Inventory Analysis - Total steel inventory has shifted from an increase to a decrease, with a week-on-week decline of 0.6% [27]. - The social inventory of five major steel products is 8.663 million tons, up 0.1% week-on-week and up 8.7% year-on-year [29]. Demand Analysis - Apparent consumption of five major steel products has improved significantly, with a week-on-week increase of 3.7% [51]. - Rebar apparent consumption reached 1.903 million tons, up 8.8% week-on-week and 2.8% year-on-year [51]. Raw Material Analysis - Iron ore prices have weakened, with a decrease in the shipping volume from Australia and Brazil, while port inventories have increased [50]. - The price index for imported iron ore is reported at 106.2 USD/ton, down 2.2% week-on-week [59]. Price and Profit Analysis - Steel prices are stable with slight increases, and the gross profit margins for steel products are improving [69]. - The comprehensive steel price index is at 122.7, reflecting a week-on-week increase of 0.2% [70].

股票简称：柳钢股份 股票代码：601003 柳州钢铁股份有限公司 LIUZHOUIRON & STEEL CO.,LTD （广西柳州市北雀路 117 号） 以简易程序向特定对象发行股票 募集说明书 （申报稿） 保荐人（主承销商） （住所：深圳市罗湖区红岭中路 1012 号国信证券大厦 16-26 层） 柳州钢铁股份有限公司 募集说明书 声 明 本公司及董事会全体成员承诺本募集说明书及其他信息披露资料不存在任 何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整性承担连带 赔偿责任。 本募集说明书按照《上市公司证券发行注册管理办法》、《公开发行证券的公 司信息披露内容与格式准则第 61 号——上市公司向特定对象发行证券募集说明 书和发行情况报告书》等要求编制。 本次以简易程序向特定对象发行股票完成后，公司经营与收益的变化由公司 自行负责；因本次以简易程序向特定对象发行股票引致的投资风险，由投资者自 行负责。 重大事项提示 本部分所述词语或简称与本募集说明书"释义"所述词语或简称具有相同含 义。 公司特别提请投资者注意，在作出投资决策之前，务必认真阅读本募集说明 书正文内容，并特别关注以下重要事项及公司风 ...

柳州钢铁股份有限公司 关于2025年度以简易程序向特定对象发行股票申请 获得上海证券交易所受理的公告 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。 柳州钢铁股份有限公司（以下简称"公司"）于2026年1月15日收到上海证券 交易所（以下简称"上交所"）出具的《关于受理柳州钢铁股份有限公司沪市主板 上市公司发行证券申请的通知》（上证上审（再融资）〔2026〕17号）。上交所依 据相关规定对公司报送的沪市主板上市公司发行证券的募集说明书及相关申请文件 进行了核对，认为该项申请文件齐备，符合法定形式，决定予以受理并依法进行审 核。 公司本次以简易程序向特定对象发行股票事宜尚需上交所审核通过，并获得中 国证券监督管理委员会同意注册的批复后方可实施。最终能否通过上交所审核并获 得中国证券监督管理委员会同意注册的批复及其时间仍存在不确定性。 公司将根据进展情况，严格按照相关规定及时履行信息披露义务，敬请广大投 资者注意投资风险，理性投资。 特此公告。 证券代码：601003 证券简称：柳钢股份 公告编号：2026-001 柳州钢铁股份有 ...