Core Viewpoint - The article emphasizes the commitment of Benxi Steel Group to ecological priority and green development, showcasing its efforts in low-carbon transformation and sustainable practices in the steel industry [10][11][12]. Group 1: Green Transformation Initiatives - Benxi Steel Group is advancing "green steel" production, achieving over 30% carbon reduction in low-carbon automotive steel through a combination of electric furnace and converter processes [11]. - The company has developed a short-process low-carbon metallurgy innovation plan, focusing on extreme carbon reduction across the entire production process [13]. - The North Hengda photovoltaic power generation project, the largest distributed solar power project in Liaoning Province, generates 10 million kilowatt-hours of green electricity annually, reducing CO2 emissions by 9,771 tons [14]. Group 2: Environmental Impact and Air Quality Improvement - Benxi Steel has invested approximately 12.7 billion yuan in environmental projects from 2021 to 2025, significantly improving air quality by reducing emissions of sulfur dioxide, nitrogen oxides, and particulate matter [17]. - The city of Benxi has seen a marked improvement in air quality, achieving 350 days of good air quality annually, with a good rate of over 95.9% [18]. Group 3: Sustainable Mining Practices - The company has invested over 34 million yuan in geological environment protection and land reclamation projects at the South Fen open-pit iron mine, completing reclamation over 1,320 hectares [19]. - The South Fen open-pit iron mine has been transformed into a 3A-level tourist attraction, integrating ecological restoration with tourism [20][21]. Group 4: Employee Engagement and Community Impact - The construction of a garden-style factory has enhanced the company's image and improved employee satisfaction, with a significant increase in green coverage in various facilities [21]. - The company has received recognition as a national 3A-level tourist attraction, contributing to local industrial tourism and community engagement [22].

Core Insights - A-share listed companies demonstrated strong resilience in 2024, with total operating revenue reaching 62.33 trillion yuan, a year-on-year increase of 0.57%, and net profit attributable to shareholders of 5.06 trillion yuan, up 1.05% [1][2] - The growth was primarily driven by advancements in artificial intelligence (AI) technology, which significantly boosted demand in sectors such as GPU, PCB, and storage chips [2][3] - Despite overall growth, non-financial companies faced challenges, with a slight decline in revenue and a notable drop in net profit [1][3] Financial Performance - Among the 5402 listed companies, 4029 reported positive earnings, with 548 companies achieving over 100% growth in net profit [2] - The chemical company Zhengdan achieved a remarkable 119-fold increase in net profit, driven by soaring TMA prices due to supply-demand imbalances [2][3] - The semiconductor sector saw significant profit increases, with companies like Zhaoyi Innovation and Weir Shares reporting net profit growth of 584.21% and 498.11%, respectively [3] Sector Analysis - The AI sector is identified as a key growth driver, with companies in the GPU, PCB, and optical module industries experiencing substantial performance improvements [2][3] - The consumer electronics market is also rebounding, with a reported 5.6% year-on-year increase in smartphone shipments in China [3][4] International Expansion - A total of 3653 listed companies reported overseas revenue of 9.43 trillion yuan, accounting for approximately 20% of their total revenue [6][7] - Companies like Luxshare Precision and BYD achieved over 100 billion yuan in overseas revenue, with notable growth in emerging markets [6][7] - The internationalization strategies include local market investments and partnerships, particularly in Africa and the Middle East [7][8] Challenges and Losses - Despite overall positive performance, 124 companies reported net losses exceeding 1 billion yuan, with the real estate sector being particularly affected [9][10] - Vanke A led the loss rankings with a staggering 494.78 billion yuan loss, highlighting the difficulties faced in the real estate market [9][10] - The energy sector, including solar and lithium companies, also reported significant losses due to overcapacity and intensified competition [10] Regulatory Environment - The introduction of stricter delisting regulations is expected to normalize the delisting process, with 52 companies delisted in 2024 [11][12] - New rules include higher thresholds for financial delisting criteria, aiming to enhance market stability and protect investor interests [11][12]

"产品批量化稳定生产，意味着降低成本、提高效益。"在冷轧生产线上干了25年，刘晓峰见证了本钢板 材公司产品质量的持续跃升——实现世界最宽幅2150毫米汽车板的高效稳定生产，解决冷轧热冲压成型 高强度钢稳定焊接难题…… "技术研发升级，生产流程也得更智能。"刘晓峰说，近年来，团队还致力于参与第三冷轧厂集中控制中 心二期项目的开发。 集中控制中心是生产线上的"智慧大脑"。2023年9月，集中控制中心一期投入使用，原本分布在4条生产 线、28个点位的操作人员和控制功能，全都集中在一间屋内，通过大屏上的监控画面、工艺参数等，实 时掌握生产线上的情况。这样的数据协同共享，带动产线劳动生产率提高65%，产品合格率提升10%， 能源消耗降低30%。刘晓峰说："能为钢铁制造迈向高端化、智能化、绿色化出一份力，我们感觉很自 豪！" （人民日报记者 胡婧怡） "交货周期能不能保证，就看这次试验了！"本钢板材股份有限公司冷轧总厂总工程师刘晓峰出差归来， 一下飞机就赶到第三冷轧厂，和团队成员一起研究酸轧机组工作进展。 近年来，公司生产的1.3米宽、强度超1000兆帕超高强钢的订单量快速增长。但超高强钢轧制难度大， 轧制过程中钢带更硬 ...

Operating Performance - The company reported total revenue of 12.338 billion yuan in Q1 2025, a year-on-year decrease of 16.87% [1] - The net profit attributable to shareholders was -766 million yuan, an increase of 14.87% year-on-year, while the net profit excluding non-recurring items was -769 million yuan, up 15.98% year-on-year [1] Profitability - The company's gross margin was -3.5%, a decrease of 21.47% year-on-year, and the net margin was -6.05%, down 3.07% year-on-year, indicating weak profitability in core operations [2] Expense Control - Total selling, administrative, and financial expenses amounted to 276 million yuan, accounting for 2.24% of revenue, which is an increase of 0.92% year-on-year, although overall expense control remains within a reasonable range [3] Assets and Liabilities - As of the end of Q1 2025, the company had cash and cash equivalents of 2.163 billion yuan, an increase of 14.91% year-on-year; accounts receivable were 594 million yuan, a significant decrease of 53.06% year-on-year; interest-bearing liabilities reached 10.49 billion yuan, an increase of 18.19% year-on-year, with an interest-bearing debt ratio of 22.6% [4] Cash Flow Situation - The operating cash flow per share was -0.1 yuan, a decrease of 182.18% year-on-year, indicating significant cash flow pressure from operating activities; the ratio of cash and cash equivalents to current liabilities was only 10.24%, with a three-year average of 10.58% [5] Dividends and Financing - Since its listing, the company has raised a total of 13.988 billion yuan and distributed a total of 9.175 billion yuan in dividends, resulting in a dividend-to-financing ratio of 0.66, reflecting a relatively proactive approach to shareholder returns [6] Summary - Overall, the company's performance in Q1 2025 showed a decline, with weak profitability, and cash flow and debt situations warranting attention [7]

Group 1: Asset Replacement and Risks - The asset replacement process requires further verification and negotiation, with the asset scope and transaction price yet to be finalized. There is a possibility of adjustments, suspension, or cancellation of the transaction plan, highlighting the need for investors to be aware of risks [1]. Group 2: Convertible Bonds - The conversion of convertible bonds is significantly influenced by market conditions. Currently, the conversion premium is high, and the company will actively monitor the conversion situation while ensuring proper funding arrangements for bond repayments [1]. Group 3: Competition Post-Reorganization - Following the reorganization, there is some overlap and market competition between the company and Ansteel Group's controlled Ansteel Co., Ltd. However, there are significant differences in main business and products between the company and Panzhihua Steel, indicating no substantial or potential competition [1].

Core Points - The company, Benxi Steel Plate (000761), reported a revenue of 12.338 billion yuan for the first quarter of 2025, representing a year-on-year decline of 16.87% [1] - The company incurred a net loss of 766 million yuan, an improvement compared to a net loss of 900 million yuan in the same period last year [1]

股票代码：000761 200761 股票简称：本钢板材 本钢板B 编号：2025-031 债券代码：127018 债券简称：本钢转债 本钢板材股份有限公司 第十届监事会第一次会议决议公告 本公司及监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。 一、监事会会议召开情况 1.监事会于 2025 年 4 月 15 日以电子邮件形式发出会议通知。 2.2025 年 4 月 25 日在公司会议室召开。 3.本次会议应出席监事 5 人，实际出席会议监事 5 人。 4.会议由监事会主席卢学柱先生主持。 5.本次监事会会议的召开符合有关法律、行政法规、部门规章、 规范性文件和公司章程的规定。 二、监事会会议审议情况 1.审议通过《关于选举公司第十届监事会主席的议案》。 监事会选举卢学柱先生为公司第十届监事会主席。 表决结果：赞成 5 票，反对 0 票，弃权 0 票。 2.审议通过《2025 年第一季度报告》。 监事会对董事会编制的 2025 年第一季度报告进行了审核，认为 董事会编制和审议公司 2025 年第一季度报告的程序符合法律、行政 法规及中国证监会的规定，报告内容真实、准确 ...

股票代码：000761 200761 股票简称：本钢板材 本钢板 B 编号：2025-030 债券代码：127018 债券简称：本钢转债 本钢板材股份有限公司 第十届董事会第一次会议决议公告 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。 一、董事会会议召开情况 1.董事会于 2025 年 4 月 15 日以电子邮件形式发出会议通知。 表决结果：赞成 8 票，反对 0 票，弃权 0 票。 2.审议通过《关于调整董事会专门委员会成员的议案》 鉴于公司第九届董事会任期届满，第十届董事会成员已选举产生， 现对董事会专门委员会成员调整如下： （1）董事会战略委员会由黄作为董事长、王东晖董事、张广宁 独立董事三人组成，黄作为先生任主任委员。 2.2025 年 4 月 25 日在公司会议室召开。 3.本次会议应出席董事 8 人，实际出席会议董事 8 人。 4.本次会议主持人为董事长黄作为先生，公司监事、高级管理人 员列席了会议。 5.本次董事会的召开符合有关法律、行政法规、部门规章、规范 性文件和公司章程的规定。 二、董事会会议审议情况 1.审议通过《关于选举公司第十届董 ...

| 股票代码：000761 200761 | 股票简称：本钢板材 本钢板 B | 编号：2025-028 | | --- | --- | --- | | 债券代码：127018 | 债券简称：本钢转债 | | 本钢板材股份有限公司 2024 年度股东大会决议公告 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。 特别提示： 1.本次股东大会无否决提案的情形。 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况： （一）会议召开情况 1.会议召开时间：2025年4月25日下午14:30。 2.会议召开地点：本钢能管中心三楼会议室。 3.会议召开方式：现场投票和网络投票相结合。 4.会议召集人：公司董事会。 5.会议主持人：公司董事长黄作为先生。 6.会议的召开符合有关法律、行政法规、部门规章、规范性文 件和公司章程的规定。 （二）会议出席情况 1.股东出席的总体情况： 二、提案审议和表决情况 （一）议案表决方式 本次股东大会议案采用现场投票表决和网络投票表决相结合的 方式。 （二）议案表决情况 | 序号 | | 股东类别 | 人数 | 代 ...

北京德恒律师事务所 关于本钢板材股份有限公司 2024 年度股东大会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于本钢板材股份有限公司 2024 年度股东大会的法律意见 北京德恒律师事务所 关于本钢板材股份有限公司 2024 年度股东大会的 法律意见 德恒 01G20030033-18 号 致：本钢板材股份有限公司 北京德恒律师事务所受本钢板材股份有限公司（以下简称"本钢板材"或"公 司"）委托，指派殷淑霞律师、李明达律师（以下简称"本所律师"）出席公司 2024 年度股东大会（以下简称"本次股东大会"），并对本次股东大会的合法性 进行见证并出具本法律意见。 本法律意见根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会 规则》等现行有效的法律、法规和规范性文件，以及《本钢板材股份有限公司章 程》（以下简称"《公司章程》"）而出具。 本所及本所律师依据《证券法》、《律师事务所从事证券法律业务管理办法》 和 ...