New Stock Issuance - YouSheng Co., Ltd. (Securities Code: 732418) issued shares at a price of 46.36 RMB on September 12, 2025[1] - *ST Tianmao (Securities Code: 000627) has a cash option declaration period from September 15 to September 19, 2025[1] - *ST Zitian (Securities Code: 300280) enters the delisting arrangement period starting September 15, 2025[1] Trading Alerts - Hangke Technology (Securities Code: 688006) reported severe abnormal fluctuations on September 11, 2025[1] - Shanghai Electric Power (Securities Code: 600021) had a trading volume of 8,487 on September 10, 2025[1] - Tianji Co., Ltd. (Securities Code: 002759) reported a trading volume of 8,705 on September 10, 2025[1] Abnormal Fluctuations - ST Lingnan (Securities Code: 002717) reported a trading volume of 7,965 on September 10, 2025[3] - ST Huaxi (Securities Code: 002630) reported a trading volume of 9,579 on September 11, 2025[3] - ST Jianye (Securities Code: 600381) reported a trading volume of 5,420 on September 3, 2025[3]

Core Viewpoint - The company, Wujin Stainless Steel, announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing prices over three consecutive trading days from September 9 to September 11, 2025 [1] Summary by Relevant Sections - **Stock Performance** - The stock price of Wujin Stainless Steel showed a cumulative increase of over 20% during the trading days of September 9, 10, and 11, 2025, indicating significant market activity [1] - **Company Disclosure** - Following the stock price fluctuation, the company conducted a self-examination and consulted with its controlling shareholders and actual controllers, confirming that there were no undisclosed significant information regarding the company [1]

| 证券代码：603878 | 证券简称：武进不锈 | 公告编号：2025-048 | | --- | --- | --- | | 债券代码：113671 | 债券简称：武进转债 | | （一）生产经营情况 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： 江苏武进不锈股份有限公司（以下简称"公司"）股票于2025年9月9日、9 月10日、9月11日连续三个交易日内日收盘价格涨幅偏离值累计超过20%，属于 股票交易异常波动。 经公司自查并书面征询控股股东及实际控制人，不存在关于本公司应披 露而未披露的重大信息。 一、股票交易异常波动的具体情况 江苏武进不锈股份有限公司 公司股票于2025年9月9日、9月10日、9月11日连续三个交易日内日收盘价格 涨幅偏离值累计超过20%，根据《上海证券交易所交易规则》的相关规定，属于 股票交易异常波动。 股票交易异常波动公告 二、公司关注并核实的相关情况 经核实，本次股票交易异常波动期间，未发现公司董事、监事、高级管理人 员、控股股东及其一致行动人买卖公司股票的情况。 经公司自 ...

本人作为贵公司的实际控制人,截至目前,不存在影响公司股票 交易价格异常波动的重大事宜;不存在其他应披露而未披露的重大信 息,包括但不限于并购重组、股份发行、债务重组、业务重组、资产 剥离和资产注入等重大事项。 本人亦将严格遵守《上海证券交易所股票上市规则》等有关规定, 依法履行信息披露义务。 关于对江苏武进不锈股份有限公司 股票交易异常波动问询函的回复 江苏武进不锈股份有限公司: 本人于2o25年 1月 ||日收到贵公司发来的《关于对江苏武进不锈 股份有限公司股票交易异常波动问询函》,经本人自查确认,现回复 如下: 特此回复。 实际控制人 顾坚劫 沈卫蛋 日期: 2025年 9月 1/日 ...

Market Performance - On September 11, the general steel sector rose by 1.15%, with Wujin Stainless Steel leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Individual Stock Performance - Wujin Stainless Steel (603878) closed at 7.05, with a gain of 7.63% and a trading volume of 683,900 shares, amounting to a transaction value of 472 million yuan [1] - Shougang Co. (000959) closed at 4.22, up 2.43%, with a trading volume of 364,500 shares and a transaction value of 152 million yuan [1] - Baotou Steel (600010) closed at 2.48, up 2.06%, with a trading volume of 9,690,400 shares and a transaction value of 2.377 billion yuan [1] - Other notable performances include Baosteel (600019) at 7.06 (+1.73%), and Maanshan Steel (600808) at 3.64 (+1.39%) [1] Capital Flow Analysis - The steel sector saw a net inflow of 106 million yuan from institutional investors, while retail investors experienced a net inflow of approximately 89.64 million yuan [2] - Notably, Wujin Stainless Steel had a net inflow of 4.02 million yuan from institutional investors, while retail investors saw a net outflow of 10.98 million yuan [3] - Baotou Steel had a significant net inflow of 103 million yuan from institutional investors, indicating strong institutional interest [3]

具体来看，今日上榜营业部中，第一大买入营业部为财通证券股份有限公司台州临海杜桥滨海西路证券 营业部，买入金额为4467.36万元，第一大卖出营业部为国泰海通证券股份有限公司总部，卖出金额为 739.42万元。 资金流向方面，今日该股主力资金净流入9812.73万元，其中，特大单净流入1.02亿元，大单资金净流出 390.97万元。近5日主力资金净流入1.07亿元。 武进不锈(603878)今日涨停，全天换手率12.67%，成交额4.44亿元，振幅10.40%。龙虎榜数据显示，营 业部席位合计净买入6567.96万元。 上交所公开信息显示，当日该股因日涨幅偏离值达10.53%上榜，营业部席位合计净买入6567.96万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交1.32亿元，其中，买入成交额为9886.95 万元，卖出成交额为3318.98万元，合计净买入6567.96万元。 卖五 大同证券有限责任公司上海长寿路证券营业部 530.31 （文章来源：证券时报网） 8月27日公司发布的半年报数据显示，上半年公司共实现营业收入11.21亿元，同比下降26.82%，实现净 利润7549.75万元，同比 ...

证券之星消息，9月9日普钢板块较上一交易日上涨0.34%，武进不锈领涨。当日上证指数报收于 3807.29，下跌0.51%。深证成指报收于12510.6，下跌1.23%。普钢板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603878 | 武进不锈 | 6.37 | 10.02% | 71.09万 | 4.44 Z | | 600126 | 杭钢股份 | 656 | 3.45% | 153.03万 | 14.48 Z | | 600808 | 马钢股份 | 3.65 | 1.96% | 124.73万 | 4.57亿 | | 600282 | 南钢股份 | 5.05 | 1.00% | 42.14万 | 2.12亿 | | 600019 | 宝钢股份 | 7.07 | 0.71% | 115.17万 | 8.20亿 | | 000717 | 中南股份 | 2.87 | 0.70% | 47.95万 | 1.38亿 | | 000959 | 首钢股份 | 4.17 | 0.4 ...

Investment Rating - The report maintains a "Buy" recommendation for several steel companies, including Hualing Steel, Baosteel, Nanjing Steel, and others, indicating a positive outlook for the sector [3][4]. Core Viewpoints - The steel industry is experiencing a dual weakness in supply and demand due to environmental production restrictions, with a focus on the recovery during peak demand seasons [3][4]. - Short-term impacts from environmental restrictions are expected to ease, leading to a gradual recovery in both supply and demand [3][4]. - Long-term capacity regulation remains a key theme, with expectations for more precise management to promote industry consolidation and improve profitability for steel companies [3][4]. Price Trends - As of September 5, 2025, steel prices showed mixed trends, with rebar prices at 3,260 CNY/ton, up 10 CNY/ton from the previous week, while other products like high-line and cold-rolled steel saw price declines [1][9]. - The report notes that the average price changes for various steel products over the past month and year reflect a complex market environment, with some products experiencing price increases while others decline [10][24]. Production and Inventory - As of September 5, 2025, total steel production decreased to 8.61 million tons, a reduction of 239,600 tons week-on-week, with rebar production specifically down by 18,800 tons [2][3]. - Total social inventory of major steel products increased by 311,800 tons to 10.765 million tons, indicating a build-up in stock levels despite reduced production [2][3]. Profitability - The report indicates a decline in steel margins, with estimated changes in gross profit for rebar, hot-rolled, and cold-rolled steel being -46 CNY/ton, -38 CNY/ton, and -36 CNY/ton respectively [1][3]. Investment Recommendations - The report recommends specific companies for investment, including Hualing Steel, Baosteel, Nanjing Steel in the general steel sector, and companies like Xianlou New Materials and CITIC Special Steel in the special steel sector [3][4].

| | | 江苏武进不锈股份有限公司 日起六年，即 2023 年 7 月 10 日至 2029 年 7 月 9 日。债券票面利率第一年 0.30%、 第二年 0.50%、第三年 1.00%、第四年 1.50%、第五年 1.80%、第六年 2.00%。 可转换公司债券转股期限为 2024 年 1 月 15 日至 2029 年 7 月 9 日，初始转股价 格为 8.55 元/股，目前转股价格为 7.93 元/股。历次转股价格调整如下： 因公司实施 2023 年年度权益分派，"武进转债"的转股价格由 8.55 元/股调 整为 8.02 元/股。具体内容详见公司于 2024 年 6 月 7 日在指定信息披露媒体披露 的《关于实施 2023 年度权益分派调整"武进转债"转股价格的公告》（公告编号： 2024-037）。 关于不向下修正"武进转债"转股价格的公告 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： 自 2025 年 8 月 14 日至 2025 年 9 月 3 日，江苏武进不锈股份有限公司（以 下简称"公司"） ...

Core Points - Jiangsu Wujin Stainless Steel Co., Ltd. announced that from August 14 to September 3, 2025, the company's stock will trigger the downward adjustment clause for the "Wujin Convertible Bonds" [1] - The convertible bonds were issued in July 2023 with a total amount of 310 million yuan, maturing in July 2029, with an initial conversion price of 8.55 yuan per share, which is now adjusted to 7.93 yuan per share [1] - On September 3, 2025, the company's fifth board meeting decided not to adjust the conversion price downward this time, and if triggered again in the next six months (from September 4, 2025, to March 3, 2026), no adjustment proposal will be made [1] - The next triggering period will restart from March 4, 2026, and investors are reminded to pay attention to subsequent announcements and risks [1]