| 证券代码：601686 | 证券简称：友发集团 | 公告编号：2025-058 | | --- | --- | --- | | 转债代码：113058 | 转债简称：友发转债 | | 天津友发钢管集团股份有限公司 关于以集中竞价交易方式回购公司股份进展的公告 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。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回 购股份》等相关法律法规的规定，在回购股份期间，公司应当在每个月的前 3 个交易日内披 露截至上月末的回购进展情况，现将公司回购股份的进展情况公告如下： 重要内容提示： 有关本次回购股份事项的具体情况详见公司于 2024 年 6 月 12 日、 2024 年 6 月 14 日及 2024 年 6 月 15 日在上海证券交易所网站（www.sse.com.cn）公告的《关于以集中竞价交易方 式回购公司股份方案的公告》（公告编号：2024-087）、《关于以集中竞价交易方式回购公司股 份的回购报告书》（公告编号：2024-091）及《关于以集中竞 ...

证券代码：601686 证券简称：友发集团 公告编号：2025-055 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 2024 年年度暨 2025 年第一季度网上业绩说明会 召开情况的公告 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个别及连带责任。 天津友发钢管集团股份有限公司（以下简称为 "公司" ）于 2025 年 4 月 30 日 9:30-11:00 通过上海证券交易所"上证 e 互动之 e 访谈" 网络平台（http://sns.sseinfo.com）， 以网络文字互动方式召开了 2024 年年度暨 2025 年第一季度业绩说明会。2025 年 4 月 23 日， 公司已在上海证券交易所网站（www.see.com.cn）披露了《关于举办 2024 年年度暨 2025 年 第一季度网上业绩说明会公告》，现将有关事项公告如下： 一、说明会基本情况 二、本次说明会投资者提出的主要问题及公司答复情况 公司在本次说明会上，针对投资者关心的公司业绩情况、财务指标、可转债转股情况、 行业发展前景、分 ...

钢铁板块盘初走高，柳钢股份（601003）、广东明珠（600382）涨停，友发集团（601686）、八一钢铁 （600581）、安阳钢铁（600569）跟涨。 打包市场龙头，抢反弹就买指数ETF>> ...

Group 1: Company Performance Highlights - Youfa Group reported a revenue of 11.40 billion yuan in Q1, a year-on-year increase of 6.06%, with a net profit of 133 million yuan, up 9680.17% due to increased sales volume and improved gross margin [2][3] - Ruijie Networks achieved a revenue of 2.54 billion yuan, growing 18.14% year-on-year, and a net profit of 107 million yuan, up 4543.67%, driven by accelerated orders and effective cost management [4][5] - Weidong Nano recorded a revenue of 510 million yuan, a significant increase of 198.95%, with a net profit of 84 million yuan, up 2253.57%, attributed to project implementation and acceptance [6][7] - Aoto Electronics reported a revenue of 185 million yuan, a 2.72% increase, and a net profit of 13.60 million yuan, up 2139.84%, due to reduced credit impairment losses and lower expenses [8][9] - Lianhua Technology posted a revenue of 1.51 billion yuan, a 3.02% increase, with a net profit of 49.72 million yuan, up 1747.04% [10][11] - Hongtong Gas achieved a revenue of 666 million yuan, a 43.98% increase, and a net profit of 22.54 million yuan, up 951.01%, driven by increased LNG sales [12][13] - Shengyi Electronics reported a revenue of 1.58 billion yuan, an increase of 78.55%, with a net profit of 200 million yuan, up 656.87%, due to optimized product structure and cost reduction measures [14] - CIMC reported a revenue of 36.03 billion yuan, a year-on-year increase of 11.04%, with a net profit of 544 million yuan, up 550.21% [15] - Hunan Haili achieved a revenue of 431 million yuan, a 25.44% increase, with a net profit of 56.61 million yuan, up 483.78%, primarily due to increased revenue and a low base from the previous year [16][17]

本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。 一、 监事会会议召开情况 天津友发钢管集团股份有限公司（以下简称为 "公司" ）第五届监事会第十六次会议于 2025 年 4 月 28 日以现场方式召开，会议通知及相关资料于 2025 年 4 月 22 日通过电子邮件和专人送 达的方式发出。本次监事会应参加会议表决的监事 3 人，实际参加会议表决的监事 3 人，会议由 监事会主席陈克春先生主持。会议列席人员为董事会秘书。会议的召集和召开程序符合《公司法》 等法律法规和《公司章程》的有关规定。 二、监事会会议审议情况 （一）审议通过《关于公司 2025 年第一季度报告的议案》 公司按照《公司章程》等相关规定和要求，对公司 2025 年第一季度的财务情况制作了《2025 年第一季度报告》。 证券代码：601686 证券简称：友发集团 公告编号：2025-053 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 第五届监事会第十六次会议决议公告 议案表决结果：同意票 3 票，反对票 0 票，弃权票 0 票 ...

天津友发钢管集团股份有限公司 证券代码：601686 证券简称：友发集团 公告编号：2025-052 债券代码：113058 转债简称：友发转债 第五届董事会第十七次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 天津友发钢管集团股份有限公司（以下简称为 "公司" ）第五届董事会第十七次会议于 2025 年 4 月 28 日以现场及视频方式召开，会议通知及相关资料于 2025 年 4 月 22 日通过 电子邮件和专人送达的方式发出。本次董事会应参加会议表决的董事 9 人，实际参加表决的董 事 9 人，会议由董事长李茂津先生主持。会议列席人员包括公司监事 3 人，以及董事会秘书。 会议的召集和召开程序符合《公司法》等法律法规和《公司章程》的有关规定。 议案表决结果：同意票 9 票，反对票 0 票，弃权票 0 票 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《天津友发钢管 集团股份有限公司 2025 年第一季度报告》（编号：2025-054）。 特此公告 ...

Market Performance - The Tianjin Free Trade Zone concept index declined by 3.22%, ranking among the top declines in concept sectors as of April 28 [1] - Within the sector, Tianbao Infrastructure hit the daily limit down, while other notable decliners included Jintou City Development and Tianjin Printers [1] - Only two stocks within the sector saw price increases, with Youfa Group rising by 2.78% and Tianjin Port by 0.22% [1] Capital Flow - The Tianjin Free Trade Zone concept experienced a net outflow of 78 million yuan from main funds, with nine stocks seeing net outflows [1] - The stock with the highest net outflow was Bohai Chemical, with a net outflow of 17.03 million yuan, followed by Ruipu Biology and HNA Technology with outflows of 16.13 million yuan and 14.13 million yuan respectively [1] - Conversely, the stocks with the highest net inflows included Guifaxiang, Jiuan Medical, and Youfa Group, with inflows of 3.25 million yuan, 2.40 million yuan, and 1.13 million yuan respectively [1][2] Stock Performance - The top decliners in the Tianjin Free Trade Zone concept included Bohai Chemical (-4.82%), Ruipu Biology (-1.30%), and HNA Technology (-3.73%) [1] - Notable gainers included Youfa Group (+2.78%) and Tianjin Port (+0.22%) [1] - The trading volume for Bohai Chemical was 6.29%, indicating significant trading activity despite the decline [1]

Financial Performance - The company's operating revenue for Q1 2025 reached ¥11,402,394,007.62, representing a 6.06% increase compared to ¥10,750,765,962.97 in the same period last year[4] - Net profit attributable to shareholders was ¥132,637,495.04, a significant increase of 9,680.17% from ¥1,356,188.49 in the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥125,682,371.03, up 1,274.00% from a loss of ¥10,705,479.50 in the same period last year[4] - Basic earnings per share increased to ¥0.0925, reflecting a 9,150.00% rise from ¥0.0010 in the same period last year[4] - Diluted earnings per share also rose to ¥0.0923, marking a 9,130.00% increase from ¥0.0010 in the previous year[5] - Operating profit for Q1 2025 was ¥156.79 million, significantly up from ¥30.91 million in Q1 2024, marking a growth of 406.73%[15] - Net profit for Q1 2025 was ¥148.79 million, compared to ¥3.74 million in Q1 2024, representing a substantial increase of 3965.73%[15] Cash Flow - The net cash flow from operating activities was ¥195,504,806.85, a turnaround of 160.11% from a negative cash flow of ¥325,225,856.05 in the previous year[4] - In Q1 2025, the net cash flow from operating activities was ¥195,504,806.85, a significant improvement compared to -¥325,225,856.05 in Q1 2024[17] - Cash inflow from operating activities totaled ¥12,761,652,805.74, up from ¥11,939,918,511.91 in the same quarter last year, representing an increase of approximately 6.9%[17] - The total cash outflow from operating activities was ¥12,566,147,998.89, compared to ¥12,265,144,367.96 in Q1 2024, indicating a rise of about 2.5%[17] - The net cash flow from financing activities was -¥191,729,926.99 in Q1 2025, compared to a positive net cash flow of ¥652,682,209.26 in Q1 2024[18] - Total cash inflow from financing activities decreased to ¥547,102,559.84 from ¥1,984,495,679.89, a decline of about 72.5%[18] - The company reported a cash increase of -¥378,828,654.84 for the quarter, contrasting with an increase of ¥660,778,399.12 in the same period last year[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥25,910,239,840.00, a slight decrease of 0.35% from ¥26,001,740,331.42 at the end of the previous year[5] - The equity attributable to shareholders was ¥6,679,749,930.39, down 1.20% from ¥6,760,918,501.91 at the end of the previous year[5] - The company's total current liabilities were CNY 12,688,973,553.01, slightly down from CNY 12,985,673,347.75[12] - The company reported a total of CNY 19,117,479,070.45 in current assets, a decrease from CNY 19,202,565,248.97[12] - Total liabilities decreased slightly to ¥18.12 billion in Q1 2025 from ¥18.15 billion in Q1 2024[14] - Total equity decreased to ¥7.79 billion in Q1 2025 from ¥7.85 billion in Q1 2024[14] Investments and Expenses - Research and development expenses for Q1 2025 were ¥11.74 million, down from ¥15.72 million in Q1 2024, indicating a reduction of 25.00%[14] - Financial expenses showed a significant improvement, with a net income of -¥1.67 million in Q1 2025 compared to -¥28.19 million in Q1 2024[15] - The company reported a total operating cost of ¥11.22 billion in Q1 2025, up from ¥10.68 billion in Q1 2024, reflecting an increase of 5.06%[14] Non-Recurring Items - Non-recurring gains and losses amounted to ¥6,955,124.01 after tax, with significant contributions from government subsidies and asset disposals[6]

Investment Rating - The report maintains a "Recommended" rating for the company [6] Core Views - The company reported a significant improvement in profitability on a quarter-over-quarter basis, with a continuous increase in dividend yield [1] - Despite a year-on-year decline in revenue and net profit, the company managed to increase its market share against a backdrop of industry contraction [3] - The company is expanding its national footprint and exploring overseas markets, particularly in Southeast Asia and the Middle East [3] Revenue and Profitability Summary - In 2024, the company achieved revenue of 54.822 billion yuan, a year-on-year decrease of 10.01% - The net profit attributable to shareholders was 425 million yuan, down 25.46% year-on-year - In Q4 2024, revenue was 14.752 billion yuan, showing a year-on-year increase of 0.59% and a quarter-over-quarter increase of 8.10% - The net profit for Q4 2024 was 324 million yuan, a year-on-year increase of 146.00% and a quarter-over-quarter turnaround to profit [1][2] Production and Sales Summary - The company's pipe sales volume in 2024 was 13.4734 million tons, a slight year-on-year decline of 0.90% - The overall production volume was 20.0949 million tons, down 0.93% year-on-year - The gross margin for Q4 2024 improved both year-on-year and quarter-over-quarter, reaching 5.03% [2] Dividend Policy - The company plans to distribute a cash dividend of 1.5 yuan per 10 shares, amounting to a total cash payout of 209 million yuan, with an annual cumulative dividend of 418 million yuan - The dividend payout ratio stands at 98.41%, resulting in a dividend yield of 5.49%, an increase of 0.61 percentage points year-on-year [2] Future Outlook - The company aims to maintain its leading position in the industry while increasing market share despite overall market declines - It is actively pursuing a national expansion strategy and establishing new production bases in Yunnan and Anhui, while also exploring international market opportunities [3][4] - The company has implemented an employee stock ownership plan to enhance long-term development and employee motivation [4] Financial Forecast - The projected net profit for 2025 is 626 million yuan, with expected growth rates of 47.3% in 2025, followed by 3.8% and 4.6% in 2026 and 2027 respectively - The corresponding price-to-earnings (PE) ratios for 2025, 2026, and 2027 are estimated to be 12, 12, and 11 times respectively [5][9]

Investment Rating - The report maintains a "Buy" recommendation for several steel companies, including Baosteel, Hualing Steel, and Nanjing Steel [5][6]. Core Viewpoints - The easing of tariff policies has led to a stabilization and rebound in steel prices. The report highlights that the U.S. tariffs on Chinese steel are expected to decrease significantly, although not to zero, indicating potential fluctuations in tariff policies [5]. - The report anticipates that the profitability of steel companies will improve due to expected adjustments in crude steel production and a more relaxed supply of raw materials like iron ore and coking coal [5]. Price Summary - As of April 25, steel prices have increased, with Shanghai's 20mm HRB400 rebar priced at 3200 CNY/ton, up 70 CNY/ton from the previous week. Other price changes include: - High line 8.0mm: 3410 CNY/ton, up 80 CNY/ton - Hot-rolled 3.0mm: 3260 CNY/ton, up 20 CNY/ton - Cold-rolled 1.0mm: 3710 CNY/ton, down 80 CNY/ton - Common medium plate 20mm: 3490 CNY/ton, up 20 CNY/ton [3][12]. Production and Inventory Summary - As of April 25, the production of five major steel products increased to 8.76 million tons, a rise of 31,300 tons week-on-week. Notably, rebar production decreased slightly to 2.2911 million tons. Total inventory of these products decreased by 414,400 tons to 10.8235 million tons [4][5]. - The apparent consumption of rebar was estimated at 2.5994 million tons, down 138,800 tons week-on-week, while daily average sales of construction steel increased by 11.56% [4]. Profitability Analysis - The report indicates an increase in steel profitability, with estimated gross margins for rebar, hot-rolled, and cold-rolled steel changing by +16 CNY/ton, +6 CNY/ton, and -94 CNY/ton respectively. Electric arc furnace steel margins increased by +11 CNY/ton [3][5]. Investment Recommendations - The report recommends focusing on the following companies: - General Steel Sector: Baosteel, Hualing Steel, Nanjing Steel - Special Steel Sector: CITIC Special Steel, Yongjin Co., Xianglou New Materials - Pipe Material: Jiuli Special Materials, Wujin Stainless Steel, Youfa Group - It also suggests paying attention to high-temperature alloy companies like Fushun Special Steel [5].