Core Viewpoint - Youfa Group (601686.SH) has decided to terminate its plan for a private placement of shares due to the expiration of the authorization period and considerations of the current market environment, company development strategy, and operational planning [1] Group 1 - The company actively promoted various tasks and strictly adhered to relevant laws, regulations, and disclosure obligations following the announcement of the private placement [1] - The decision to terminate the private placement was made after thorough communication and careful analysis among all relevant parties [1] - The authorization for the private placement has expired, prompting the company to reassess its strategy [1]

Core Points - Xu Guangyou, the company's director and vice general manager, submitted his resignation due to reaching the legal retirement age [2] - Following his resignation, Xu Guangyou will not hold any other positions within the company or its subsidiaries [2]

Group 1 - Xu Guangyou has resigned from his positions as a director, compensation committee member, and deputy general manager of Youfa Group due to reaching the legal retirement age [1] - After his resignation, Xu Guangyou will not hold any other positions within the company or its subsidiaries [1] - As of the report, Youfa Group's market capitalization stands at 9.2 billion yuan [1] Group 2 - For the year 2024, Youfa Group's revenue composition is as follows: 91.62% from the metal products industry and 8.38% from other businesses [1]

| 证券简称：友发集团 | 公告编号：2025-119 | | --- | --- | | 证券代码：601686 | | 债券代码：113058 转债简称：友发转债 天津友发钢管集团股份有限公司 关于公司董事兼高级管理人员辞职的公告 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。 重要内容提示： 天津友发钢管集团股份有限公司（以下简称"公司"）董事会于近日收到公司董事兼副总 经理徐广友先生递交的书面辞职报告。因达到法定退休年龄，徐广友先生向公司董事会辞去 所担任的第五届董事会董事、薪酬委员会委员及副总经理职务。辞职后，徐广友先生亦不在 公司及控股子公司担任其他职务。 一、董事/高级管理人员离任情况 | | 离任职务 | 离任时间 | | 原定任期到 | 离任原因 | 是否继续在上市 公司及其控股子 | 具体职务 | 是否存在未 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | | | | 期日 | | | （如适用） | 履行完毕的 | | | ...

Core Viewpoint - Xu Guangyou, the company's director and deputy general manager, has resigned due to reaching the statutory retirement age, which will not affect the company's daily operations [1] Group 1: Resignation Details - Xu Guangyou has submitted his resignation from the fifth board of directors, the compensation committee, and his position as deputy general manager [1] - After his resignation, Xu Guangyou will no longer hold any positions within the company or its subsidiaries [1] Group 2: Shareholding and Board Composition - As of the announcement date, Xu Guangyou holds 96.255 million shares of the company [1] - His resignation does not result in the board of directors falling below the legal number of members [1] Group 3: Future Actions - The company will promptly complete the process of selecting a new director and will fulfill its information disclosure obligations in a timely manner [1]

Core Viewpoint - Xu Guangyou, the company's director and vice president, has resigned due to reaching the statutory retirement age, and will no longer hold any positions within the company or its subsidiaries [1] Group 1 - Xu Guangyou applied for resignation from his roles as a director of the fifth board, member of the compensation committee, and vice president [1] - The resignation will take effect from the date the resignation report is delivered to the board of directors [1]

Core Insights - The steel sector experienced a slight decline of 0.0% on November 24, with Sansteel Mingguang leading the losses [1] - The Shanghai Composite Index closed at 3836.77, up 0.05%, while the Shenzhen Component Index closed at 12585.08, up 0.37% [1] Steel Sector Performance - Major steel stocks showed mixed performance, with notable gainers including: - Maanshan Iron & Steel (600808) at 3.87, up 2.11% with a trading volume of 562,600 shares and a turnover of 217 million yuan - Nanjing Steel (600282) at 5.60, up 1.63% with a trading volume of 401,900 shares and a turnover of 225 million yuan - Wujin Stainless Steel (603878) at 9.43, up 1.51% with a trading volume of 137,400 shares and a turnover of 128 million yuan [1] - Conversely, Sansteel Mingguang (002110) fell to 4.21, down 2.09% with a trading volume of 242,500 shares and a turnover of 103 million yuan [2] Capital Flow Analysis - The steel sector saw a net inflow of 120 million yuan from institutional investors, while retail investors experienced a net outflow of 131 million yuan [2] - Specific stock capital flows included: - Baogang Group (600010) with a net outflow of 57.72 million yuan from institutional investors - Chongqing Steel (601005) with a net inflow of 29.54 million yuan from institutional investors [3] - Retail investors showed a net inflow of 11.73 million yuan overall, indicating a mixed sentiment in the market [2]

证券代码：601686 证券简称：友发集团 天津友发钢管集团股份有限公司 投资者关系活动记录表 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 ☑路演活动 | | | □现场参观 □其他（电话交流会） | | | 陈松涛 申万宏源证券 郭中耀 申万宏源证券 | | 参与单位名 | 黄志远 兴证全球基金 | | 称及人员姓 | 陈 玲 兴证全球基金 | | | 尚凌楠 光大保德信基金 | | 名 | 庄彤芸 交银施罗德基金 | | | 张 杰 永赢基金 | | | 谢 成 东方红资管（姓名待补充） | | 时间 | 2025 年 11 月 20 日、21 日 | | 地点 | 券商策略会、投资者会议室 | | 上市公司接 | 董事会秘书 郭锐 | | 待人员姓名 | | | | 公司董秘结合投资者问题，就公司业绩情况、产品定价原则、库存 | | | 情况、可转债、十五五规划地下管网、友发优势、未来并购方向、业绩 | | | 增长点、未来分红规划等方面内容进行了介绍。 | | | 投资者提出的主要问题及公司回复 ...

团 证券代码：601686 证券简称：友发集 天津友发钢管集团股份有限公司 投资者关系活动记录表 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 ☑路演活动 | | | □现场参观 □其他（电话交流会） 陈松涛 申万宏源证券 | | | 郭中耀 申万宏源证券 | | | 黄志远 兴证全球基金 | | 参与单位名 | 陈 玲 兴证全球基金 | | 称及人员姓 | 尚凌楠 光大保德信基金 | | 名 | 庄彤芸 交银施罗德基金 | | | 张 杰 永赢基金 | | | 谢 成 东方红资管（姓名待补充） | | 时间 | 年 月 日、21 日 2025 11 20 | | 地点 | 券商策略会、投资者会议室 | | 上市公司接 待人员姓名 | 董事会秘书 郭锐 | | | 公司董秘结合投资者问题，就公司业绩情况、产品定价原则、库存 | | | 情况、可转债、十五五规划地下管网、友发优势、未来并购方向、业绩 | | | 增长点、未来分红规划等方面内容进行了介绍。 | | | 投资者提出的主要问题及公司回复情况如下： ...

Core Points - The stock price of Youfa Group has decreased by 2.04% to 6.25 CNY per share as of November 21, with a market capitalization of 9.064 billion CNY [1] - Year-to-date, Youfa Group's stock price has increased by 20.94%, but it has seen a decline of 6.72% in the last five trading days and 9.81% in the last twenty days [2] Financial Performance - For the period from January to September 2025, Youfa Group reported a revenue of 37.992 billion CNY, a year-on-year decrease of 5.19%, while the net profit attributable to shareholders increased by 399.25% to 500 million CNY [2] - The company has distributed a total of 1.905 billion CNY in dividends since its A-share listing, with 1.054 billion CNY distributed over the last three years [2] Shareholder Information - As of November 10, Youfa Group had 37,000 shareholders, an increase of 19.92% from the previous period, with an average of 39,197 circulating shares per shareholder, a decrease of 16.61% [2] Business Overview - Youfa Group, established on December 26, 2011, specializes in the research, production, and sales of welded steel pipes, with its main revenue sources being galvanized steel pipes (47.51%) and welded steel pipes (38.07%) [2] - The company is classified under the steel industry, specifically in the sub-sector of steel pipes, and is associated with various concepts including underground utility tunnels and new urbanization [2]