| 股票代码：000761 | 200761 | 股票简称：本钢板材 本钢板 B | | --- | --- | --- | | 债券代码：127018 | | 债券简称：本钢转债 | 本钢板材股份有限公司投资者关系活动记录表 编号：2025-011 | 降低了产品缺陷率，提高了产品的一致性和稳定性。三是降低 | | | --- | --- | | 人力成本，减少了对人工的需求，降低了企业在人力方面的投 | | | 入，同时也避免了因人为失误带来的成本损失。四是改善工作 | | | 环境，将员工从危险、繁重的工作环境中解放出来，降低了员 | | | 工的劳动强度和安全风险。五是优化生产决策，基于准确的数 | | | 据分析，企业管理层能够做出更加科学、合理的决策，优化生 | | | 产计划、资源配置和供应链管理。六是提升创新能力，通过对 | | | 市场和客户数据的分析，企业能够及时了解市场需求和趋势， | | | 开发出更符合市场需求的新产品和新服务，提升企业的创新能 | | | 力和市场竞争力。七是提高运营效率，通过对生产过程数据的 | | | 实时监控和分析，及时发现生产中的问题和瓶颈，并采取相应 | ...

Group 1 - Liaoning has seen a 21.5% year-on-year increase in inclusive micro-loans in the first half of the year, surpassing the national average of 9.2% [1] - The province has implemented a QR code system for enterprises to report financing needs directly, enhancing loan accessibility [1] - The launch of the NeuVizP10, China's first photon counting CT, marks a significant technological advancement, making China the third country to master this technology [1] Group 2 - The provincial government has set ambitious goals to transform Liaoning into a major strategic support area, a hub for technological innovation, and a competitive advanced manufacturing base [7] - The province aims to achieve six key objectives, including becoming a leader in modern agriculture and a hub for international cooperation in Northeast Asia [7][15] - Liaoning's economy has shown a growth of 5.3% in the first half of 2023, breaking a decade-long trend of growth below the national average [9][10] Group 3 - The province has established 469 provincial-level digital workshops and 238 advanced intelligent factories, showcasing a commitment to digital transformation in manufacturing [11] - The focus on high-quality development has led to significant improvements in industrial structure and resilience, with strategic emerging industries accounting for over one-third of revenue in key industrial clusters [12] - Liaoning is enhancing its agricultural sector, aiming for modernization and increased farmer income through various support measures [13][14] Group 4 - The province has made strides in improving its business environment, with significant reforms in mining rights approval processes reducing processing times from 60 to 20 working days [17][19] - A comprehensive approach to optimizing the political ecosystem has been adopted, focusing on enhancing the relationship between government and businesses [19][20] - The number of operating entities in Liaoning reached 5.321 million in 2023, with growth rates exceeding the national average, indicating a robust business climate [20][21]

Core Viewpoint - The company is making significant progress in reducing losses and enhancing its operational efficiency through cost-cutting measures and a focus on high-end product development, particularly in the automotive steel sector. Group 1: Financial Performance - In the first half of 2025, the company produced 5.1997 million tons of pig iron, 5.4165 million tons of crude steel, and 8.1616 million tons of steel, achieving a total revenue of 24.698 billion yuan, which shows a year-on-year decline but a quarter-on-quarter recovery [1] - The company's net profit attributable to shareholders decreased by 9.21% year-on-year, indicating a significant reduction in losses, primarily due to cost reduction and efficiency improvement initiatives [1] Group 2: Product Development and Innovation - The company is advancing its high-end product strategy, with key products' proportion increasing by 31% year-on-year and sales of hot-formed products rising by 89%, contributing an additional profit of 27.37 million yuan from high-value new products [2] - The company has successfully rolled out ultra-wide hot-rolled plates, setting a new domestic record, and is leveraging smart technology with a data assetization rate of 88% [2] Group 3: Energy and Environmental Initiatives - The company is actively pursuing green and low-carbon development, achieving a 27%-40% reduction in carbon emissions through various initiatives, including green factory applications and low-carbon product certifications [3] - The company is focusing on optimizing its energy structure and reducing major pollutants and energy consumption in key production processes [3] Group 4: Industry Outlook - The steel industry is expected to benefit from improved supply-demand dynamics, with leading steel enterprises likely to see a recovery in profitability and valuation due to ongoing industry consolidation and supportive policies [4] - The company is accelerating the development of lightweight automotive steel to meet the growing demand for safety, low carbon, and environmental sustainability in the automotive sector [4]

Market Performance - On September 5, the general steel sector rose by 0.55% compared to the previous trading day, with Benxi Steel leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Individual Stock Performance - Benxi Steel (000761) closed at 3.68, up 2.51% with a trading volume of 189,800 shares and a transaction value of 69.31 million yuan [1] - Other notable performers include: - Hualing Steel (000932) at 5.90, up 1.90% with a trading volume of 744,000 shares [1] - Liugang (601003) at 5.62, up 1.81% with a trading volume of 258,500 shares [1] - Sijiang Steel (600808) at 3.58, up 1.70% with a trading volume of 724,300 shares [1] Capital Flow Analysis - The steel sector experienced a net outflow of 83.49 million yuan from institutional investors, while retail investors saw a net inflow of 191 million yuan [2] - The capital flow for individual stocks shows: - New Steel (600782) had a net inflow of 23.35 million yuan from institutional investors [3] - Hebei Steel (000709) had a net inflow of 22.33 million yuan from institutional investors [3] - Chongqing Steel (601005) had a net inflow of 22.06 million yuan from institutional investors [3]

Core Viewpoint - The report highlights a decline in the export value of China's black metal smelting and rolling industry, indicating potential challenges for companies in this sector [1]. Industry Summary - In July 2025, the export value of China's black metal smelting and rolling industry was 15.98 billion yuan, a year-on-year decrease of 1.2% [1]. - From January to July 2025, the cumulative export value reached 116.06 billion yuan, reflecting a year-on-year decline of 1.3% [1]. - The report provides a comprehensive market survey and investment outlook for the black metal mining and selection industry in China from 2025 to 2031 [1]. Company Summary - Listed companies mentioned include CITIC Special Steel, Hebei Steel, Zhongnan Co., Benxi Steel, Sansteel Minguang, Jiuli Special Materials, Jinzhu Pipeline, Changbao Co., Shengde Xintai, Anyang Steel, Bayi Steel, New Steel, and Maanshan Steel [1].

Core Viewpoint - The company, Benxi Steel Plate Co., Ltd., is set to hold a half-year performance briefing for 2025 to provide insights into its financial results and operational status [1]. Group 1: Meeting Details - The performance briefing is scheduled for September 5, 2025, from 15:00 to 16:30 [1]. - The meeting will be conducted online [1]. Group 2: Attendees - Key attendees include the Chairman and General Manager, Mr. Huang Zuo, the Chief Accountant and Board Secretary, Mr. Zheng Zhengli, and Independent Director, Ms. Wu Li [1]. Group 3: Investor Participation - Investors can participate in the briefing via the "Panorama Network Investor Relations Interactive Platform" [2]. - The company is soliciting questions from investors until 12:00 on September 5, 2025, to enhance the relevance of the discussion [2].

Group 1 - The company, Benxi Steel Plate, announced that it plans to hold a semi-annual performance briefing on September 5, 2025 [2]

本钢板材股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 | | | 出席本次业绩说明会的人员有：公司董事长、总经理黄作为先生， 总会计师兼董事会秘书郑政利先生，独立董事吴粒女士。如有特殊情 况，参会人员可能进行调整。 本钢板材股份有限公司（以下简称"公司"）《2025 年半年度 报告》已于 2025 年 8 月 29 日刊登在巨潮资讯网。为便于广大投资者 进一步了解公司 2025 年半年度报告和经营情况，公司拟召开 2025 年 半年度业绩说明会。 一、说明会召开的时间及方式 1.召开时间：2025 年 9 月 5 日（星期五）下午 15:00-16:30 2.召开方式：网络方式 二、出席本次说明会的人员 三、投资者参加方式 投 资 者 可 登 录 " 全 景 网 · 投 资 者 关 系 互 动 平 台 " （http://ir.p5w.net）参与本次业绩说明会。 为充分尊重投资者、提升交流的针对性，现就本次业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可 于 2025 年 ...

Core Insights - The company, Benxi Steel Plate (000761), reported a narrowing loss in its 2025 mid-year financial results, with total revenue of 24.698 billion yuan, a year-on-year decrease of 12.93% [1] - The net profit attributable to shareholders was -1.399 billion yuan, showing an improvement of 9.21% compared to the previous year [1] Financial Performance - Total revenue for Q2 2025 was 12.36 billion yuan, down 8.61% year-on-year [1] - Q2 net profit attributable to shareholders was -633 million yuan, an increase of 1.26% year-on-year [1] - Gross margin stood at -3.01%, a decrease of 6.56% year-on-year [1] - Net margin was -5.53%, down 4.89% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 555.6 million yuan, accounting for 2.25% of revenue, an increase of 12.62% year-on-year [1] - Earnings per share were -0.34 yuan, an increase of 9.07% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents increased to 2.12 billion yuan, up 6.41% year-on-year [1] - Accounts receivable decreased to 933 million yuan, down 29.67% year-on-year [1] - Interest-bearing debt rose to 10.552 billion yuan, an increase of 19.75% year-on-year [1] - Net asset value per share decreased to 2.33 yuan, down 34.17% year-on-year [1] Operational Insights - The company's historical return on invested capital (ROIC) has been weak, with a median of 2.2% over the past decade, and a particularly poor ROIC of -18% in 2024 [1] - The company has reported losses in five out of its 27 annual reports since going public, indicating a generally poor financial performance [1] Cash Flow and Debt Analysis - The cash flow situation is concerning, with cash and cash equivalents to current liabilities ratio at 8.14% [2] - The interest-bearing asset-liability ratio has reached 23.06%, indicating a significant level of debt [2]

Group 1 - The company reported a total operating revenue of 24.698 billion yuan for the first half of 2025 [1] - The net profit attributable to shareholders was -1.399 billion yuan, an increase of 0.142 billion yuan compared to the same period last year [1] - The net cash inflow from operating activities was 0.372 billion yuan [1] Group 2 - The company's latest debt-to-asset ratio is 75.57% [3] - The latest gross profit margin is -3.01%, which is an increase of 0.49 percentage points from the previous quarter, marking two consecutive quarters of improvement [3] - The latest return on equity (ROE) is -13.32% [3] - The diluted earnings per share (EPS) is -0.34 yuan, an increase of 0.03 yuan compared to the same period last year [3] Group 3 - The company's total asset turnover ratio is 0.54 times, ranking 6th among disclosed peers [4] - The latest inventory turnover ratio is 3.54 times [4]