中信泰富特钢税收策略 依法纳税是企业最基本的社会责任。中信泰富特钢集团股份有限 公司（ 下称（ 中信泰富特钢" 公司"）遵循依法纳税原则，积极建 立健全公司税务管理体系，在国内外全面落实企业纳税义务，本税收 政策适用于公司和全资子公司、控股子公司、分公司，由董事会批准 并最终负责。 我们承诺： •遵守公司运营所在国家的税收法律法规的精神和条文，按照税 法规定履行纳税申报义务，并按照与政府相关部门关系透明的原则开 展工作。中信泰富特钢严格遵循（ 中华人民共和国税收征收管理法》、 中华人民共和国企业所得税法》及其实施条例、 中华人民共和国 个人所得税法》、 中华人民共和国增值税暂行条例》及其实施细则、 •公司的税务信息以透明方式对外披露，财务报表和审计报告包 含有关公司递延所得税资产、负债、公司税项和税率信息； 决策支持 •我们承诺遵从经济合作与发展组织 OECD）发布的防止税基侵 蚀和利润转移的多边公约相关工作精神开展跨国商业行为；不利用税 法差异、国际税收制度漏洞，不将创造的价值转移到低税收管辖区， 不在避税天堂或其他地方使用刻意构造的或非标准的税务结构或方 案来避税； •积极顺应税收政策导向、推动国家鼓励业 ...

证券代码：000708 证券简称：中信特钢 公告编号：2024-051 中信泰富特钢集团股份有限公司 第十届董事会第十二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 经到会董事审议表决，通过了如下决议： 1.审议通过了《关于子公司兴澄特钢向湖北中航提供财务资助暨 关联交易的议案》 公司子公司江阴兴澄特种钢铁有限公司拟向其持股 40%的参股公 司湖北中航冶钢特种钢材有限公司（以下简称"湖北中航"）提供 2,000 万元财务资助用于其经营支出，借款期限不超过三年，贷款利 率执行固定利率年化 3.465%，持有湖北中航 60%股权的股东中国航空 工业供销中南有限公司，按出资比例向其提供 3,000 万元相同条件的 1 借款。 独立董事召开了 2024 年第四次专门会议，全体独立董事一致同 意将该议案提交董事会审议。 该议案的表决：基于谨慎原则，公司董事钱刚先生、郭家骅先生、 李国荣先生、李国忠先生、黄国耀先生、罗元东先生回避表决；与本 议案无关联关系的董事张跃先生、姜涛先生、刘卫女士同意本议案。 具体内容详见公司同日刊登在《 ...

证券代码：000708 证券简称：中信特钢 公告编号：2024-052 一、监事会会议召开情况 中信泰富特钢集团股份有限公司（以下简称"公司"）第十届监 事会第十二次会议（以下简称"本次会议"）于 2024 年 11 月 28 日 以书面、邮件方式发出通知，于 2024 年 12 月 3 日以通讯表决方式召 开，会议应到监事 5 名，实际出席会议监事 5 名，公司部分高管列席 了会议，公司监事会主席郏静洪先生主持本次会议。本次会议的召集 和召开程序符合《中华人民共和国公司法》等法律法规及《中信泰富 特钢集团股份有限公司章程》的有关规定。 二、监事会会议审议情况 经到会监事审议表决，通过了如下决议： 1．审议通过了《关于子公司兴澄特钢向湖北中航提供财务资助 暨关联交易的议案》； 监事会认为本次交易是为了促进公司持股 40%的参股公司湖北中 航冶钢特种钢材有限公司生产经营，满足参股公司的业务发展及融资 需要，且其资信情况良好，该事项符合相关规定，交易的履行未对公 司独立性构成不利影响，决策程序合法、合规，不存在损害公司及股 东、特别是中小股东利益的情形，监事会同意本次交易。 具体内容详见同日披露在《中国证券报》《 ...

证券代码：000708 证券简称：中信特钢 公告编号：2024-056 3．股东大会主持人：钱刚。 4．会议召开的合法合规性：会议召开符合《公司法》等有关法规、 规则和《中信泰富特钢集团股份有限公司章程》的规定。 中信泰富特钢集团股份有限公司 关于召开 2024 年第二次临时股东大会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 1．股东大会届次：中信泰富特钢集团股份有限公司（以下简称"公 司"）2024 年第二次临时股东大会。 2．股东大会召集人：公司董事会。本次会议由公司第十届董事会第 十二次会议决议召开。 5．会议召开的日期和时间： 现场会议召开时间:2024 年 12 月 19 日（星期四）14:45；通过深圳 证券交易所(以下简称"深交所")交易系统进行网络投票的具体时间为 2024 年 12 月 19 日 9:15-9:25，9:30-11:30 和 13:00-15:00；通过互联 网投票系统进行网络投票的具体时间为 2024 年 12 月 19 日 9:15-15:00 期间的任意时间。 6．会议召开方式：现场投 ...

证券代码：000708 证券简称：中信特钢 公告编号：2024-053 中信泰富特钢集团股份有限公司 关于子公司兴澄特钢向湖北中航提供财务资助暨 一、关联交易概述 公司子公司江阴兴澄特种钢铁有限公司（以下简称"兴澄特钢"）拟 向其持股 40%的参股公司湖北中航冶钢特种钢材有限公司（以下简称"湖 北中航"）提供 2,000 万元财务资助用于其经营支出，借款期限不超过三 年，贷款利率执行固定利率年化 3.465%，持有湖北中航 60%股权的股东中 国航空工业供销中南有限公司（以下简称"中航中南"），按出资比例向其 提供 3,000 万元相同条件的借款。 因公司副总裁谢文新在湖北中航任董事职务，根据《深圳证券交易所 股票上市规则》及公司《关联交易管理制度》的有关规定，本次交易构成 了关联交易。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，无需经过有关部门批准。本事项资金来源为公司自有资金， 不影响公司正常业务开展及资金使用，不属于《深圳证券交易所股票上市 规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司 规范运作》等规定的不得提供财务资助的情形。 公司于 2024 年 12 ...

证券代码：000708 证券简称：中信特钢 公告编号：2024-050 中信泰富特钢集团股份有限公司 关于子公司内部提供担保的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 中信泰富特钢集团股份有限公司（以下简称"公司"）全资子公司 江阴兴澄特种钢铁有限公司（以下简称"兴澄特钢"）拟对全资孙公司 青岛特殊钢铁有限公司（以下简称"青岛特钢"）提供 10 亿元人民币的 担保，具体情况如下： 青岛特钢在中信银行股份有限公司青岛分行（以下简称"中信银行"） 申请 10 亿元人民币的授信额度，由兴澄特钢提供连带责任保证担保， 担保期限为主债务合同债务期限届满之日起三年。兴澄特钢于 11 月 7 日在青岛与中信银行签署《最高额保证合同》。青岛特钢在中信银行申 请授信事项已经经过公司第十届董事会第八次会议及 2023 年年度股东 大会审议通过，具体内容详见公司《关于调整在中信银行存贷款额度暨 关联交易的公告》。 本次担保已经由兴澄特钢于 2024 年 10 月 28 日召开的董事会审议 通过，本次担保事项无须提交公司董事会或股东大会审议。 二、被担保 ...

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company's Q3 performance was slightly below expectations, with revenue of 83.504 billion and net profit of 3.836 billion, representing a year-on-year decline of 3.37% and 12.3% respectively. The Q3 revenue and net profit were 26.499 billion and 1.111 billion, down 5.66% and 16.77% year-on-year [2][3] - The company is expected to see gradual performance improvement in Q4 due to rising downstream demand and supportive policies [2] - The company is actively adjusting its product structure, with significant growth in high-end products, including bearing steel and automotive steel, which saw year-on-year increases of 13.04% and 13.12% respectively [3] - The company aims for a sales target of 19.2 million tons in 2024, an increase of 310,000 tons year-on-year, with expectations of sales and performance recovery in Q4 [3] Financial Summary - For the first three quarters of 2024, the company achieved revenue of 83.504 billion, a decrease of 3.37% year-on-year, and a net profit of 3.836 billion, down 12.3% year-on-year [3] - The projected revenues for 2024-2026 are 107.039 billion, 109.296 billion, and 110.978 billion respectively, with net profits of 5.237 billion, 6.018 billion, and 6.186 billion [4] - The earnings per share (EPS) for 2024-2026 are projected to be 1.04, 1.19, and 1.23 respectively [3][4] - The company is valued at a PE ratio of 13.38 for 2024, with a target price of 13.92 [3][12]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook compared to market performance [5][7]. Core Views - The company reported Q3 2024 results that met market expectations, with total revenue of 83.504 billion yuan, a year-on-year decrease of 3.37%, and a net profit attributable to shareholders of 3.836 billion yuan, down 12.3% year-on-year [5][6]. - Despite a significant decline in industry conditions and steel prices, the company's gross margin remained relatively stable due to its specialty steel business, which demonstrated strong anti-cyclical characteristics [6][7]. - The company anticipates growth in high-end product sales, with a focus on optimizing product structure to mitigate the impact of mid-range product profit fluctuations [7]. Summary by Sections Financial Performance - For Q3 2024, the company experienced a revenue decline of 7.27% quarter-on-quarter, but the gross margin slightly improved to 12.51% from 12.3% in Q2 [6]. - The company’s total revenue for 2024 is projected at 111.829 billion yuan, with a year-on-year growth rate of -1.9% [9]. - The net profit for 2024 is forecasted to be 5.168 billion yuan, reflecting a year-on-year decrease of 9.7% [9]. Market Conditions - The report highlights a significant downturn in the steel industry, with average prices for hot-rolled and cold-rolled sheets dropping by 11.98% and 11.08% respectively in Q3 2024 [6]. - The overall profit for the black metal and rolling processing industry turned negative, indicating substantial pressure on the sector [6]. Product Strategy - The company’s high-end product sales are expected to grow, with a 24% increase in sales of "two highs and one special" products in H1 2024 [7]. - The focus on high-end products is anticipated to enhance the company's product mix and reduce reliance on mid-range products, which are more susceptible to profit volatility [7].

Summary of Conference Call Records Company and Industry Overview - The conference call discusses the performance and outlook of a steel manufacturing company, focusing on its financial results and market conditions in the steel industry [1][2][3]. Key Points and Arguments 1. **Financial Performance**: - Revenue for the first three quarters was approximately 835 million, a decrease of 3% year-on-year [1]. - Gross margin for the first three quarters was 12.37%, down by 1.3 percentage points compared to the previous year [1]. - Net profit was 38.36 million, representing a year-on-year decline of 12.3%, while the adjusted net profit was 37.4 million, down 10% [1]. - The company's debt ratio is currently at 62%, showing a decrease compared to the same period last year [1]. 2. **Market Conditions**: - The company noted a recovery in product prices from late September to mid-October, with increases of 300 to 500, and further price hikes expected [1]. - The automotive steel demand is rising, but domestic sales growth remains stagnant, primarily driven by new energy vehicles [1]. - The energy sector is showing positive growth, while other sectors are experiencing weaker performance [1][4]. 3. **Outlook for Q4**: - The company anticipates better performance in Q4 compared to Q3, driven by improved manufacturing activity and order placements [2]. - Capital expenditures are expected to remain stable at around 2 to 3 billion annually, focusing on efficiency improvements and digital transformation [2]. 4. **International Expansion**: - The company is cautiously pursuing international expansion, particularly in Southeast Asia, the Middle East, and North America, with ongoing discussions with investment institutions [3]. - There are no significant obstacles reported in international operations, but progress is slower than expected due to differences in operational efficiency compared to domestic standards [3]. 5. **Product Segmentation**: - The company is focusing on high-end products, with significant growth in specific segments like carbon steel, which has seen over 30% growth this year [4]. - The performance of various production bases remains stable, with some bases showing slight improvements in efficiency [4]. 6. **Export Challenges**: - The company faces challenges in meeting its export targets for the year, with a goal of 280 million tons, which appears difficult to achieve based on current performance [5][6]. - Export volumes have decreased due to domestic demand issues and international trade barriers, although there are signs of recovery in recent months [6]. 7. **Shareholder Engagement**: - The company is considering shareholder feedback regarding dividends and potential share buybacks, although no concrete plans have been established yet [2][7]. - The major shareholder's stake is high, at approximately 83.85%, limiting the need for significant buybacks or increases in shareholding [7]. 8. **Future Projects**: - The company is progressing with its "Two High and One Special" project, expecting to exceed 30,000 tons this year, indicating growth in market expansion and product certification [8]. Additional Important Information - The company is committed to maintaining its dividend strategy and will discuss specific proposals with the board and shareholders [2]. - The overall sentiment in the steel industry is cautiously optimistic, with expectations for gradual recovery in demand and pricing [1][2][3].

Summary of Conference Call Records Company and Industry Overview - The conference call primarily discusses the steel industry and a specific steel company, focusing on its financial performance and market conditions [1][2][3]. Key Points and Arguments 1. **Financial Performance**: - Revenue for the first three quarters was approximately 835 million, a decline of about 3% year-on-year [1]. - Gross margin for the first three quarters was 12.37%, down 1.3 percentage points from the previous year [1]. - Net profit was 38.36 million, a year-on-year decrease of 12.3%, with a non-recurring profit of 37.4 million, down 10% [1]. - The company's debt ratio is currently at 62%, showing a decrease compared to the same period last year [1]. 2. **Market Conditions**: - The company noted a recovery in product prices from late September to mid-October, with increases of 300 to 500, and further price hikes expected [1]. - The automotive steel demand is rising, but domestic sales growth remains stagnant, primarily driven by new energy vehicles [1]. - The energy sector is showing positive growth, while other sectors are experiencing weaker performance [1][4]. 3. **Export and Domestic Market Dynamics**: - The company aims to increase exports from 210 million to 280 million tons, but achieving this target is deemed challenging due to declining export growth [5][6]. - Domestic steel demand is strong, but the company's export volume has decreased, indicating a divergence from overall industry trends [6]. 4. **Capital Expenditure and Investments**: - The company plans to maintain annual capital expenditures of around 2 to 3 billion for efficiency improvements and digital transformation [2]. - There are no immediate plans for share buybacks or significant changes in dividend policies, although discussions with shareholders are ongoing [2][7]. 5. **International Expansion**: - The company is cautiously pursuing international expansion, focusing on Southeast Asia, the Middle East, and North America, but progress is slow due to operational challenges [3][4]. 6. **Operational Updates**: - The performance of various production bases remains stable, with some bases like Qingdao showing over 30% growth in efficiency [4]. - The company is focusing on high-end products, with mixed results across different segments [4][8]. Other Important but Overlooked Content - The company is experiencing a shift in the mining sector, with prices stabilizing between 100 to 100 billion, indicating a potential for future price increases [2]. - There is a noted disparity between the company's export performance and the overall industry, suggesting a need for strategic adjustments [6]. - The management emphasizes a cautious approach to international ventures, highlighting the importance of maintaining operational efficiency and market positioning [3][7].