Core Viewpoint - The stock price of Benxi Steel Plate fell by 2.17% on September 11, 2023, with a current price of 3.60 CNY per share and a market capitalization of 14.79 billion CNY [1] Group 1: Stock Performance - Year-to-date, Benxi Steel Plate's stock price has increased by 12.50%, with a slight increase of 0.28% over the last five trading days, a decrease of 3.23% over the last 20 days, and a 0.28% increase over the last 60 days [2] - As of June 30, 2023, the number of shareholders is 46,200, a decrease of 3.47% from the previous period [2] Group 2: Financial Performance - For the first half of 2025, Benxi Steel Plate reported operating revenue of 24.698 billion CNY, a year-on-year decrease of 12.93%, and a net profit attributable to shareholders of -1.399 billion CNY, an increase of 9.78% year-on-year [2] Group 3: Shareholder Information - Since its A-share listing, Benxi Steel Plate has distributed a total of 9.174 billion CNY in dividends, with no dividends paid in the last three years [3] - As of June 30, 2023, the fifth largest shareholder is China Merchants Securities (Hong Kong) Co., Ltd., holding 16.0119 million shares, an increase of 172,200 shares from the previous period [3]

Core Viewpoint - The company is actively pursuing high-end, intelligent, and green transformation strategies to enhance production efficiency, product quality, and cost control while addressing raw material price fluctuations and optimizing its sales network. Group 1: Asset Restructuring and Strategic Considerations - The asset restructuring is part of the group's dual-core strategy aimed at improving the quality of the listed company and promoting high-quality development [2] - The company is currently advancing the restructuring plan and enhancing communication [2] Group 2: Transformation Initiatives and Their Impact - The company has achieved initial success in its transformation efforts, leading to increased production efficiency, improved product quality, reduced labor costs, and enhanced decision-making capabilities [2] - Future goals include focusing on high-end, green, and intelligent development, leveraging AI and data value extraction to address operational challenges [2] Group 3: Raw Material Price Management - The company has implemented measures to mitigate the negative impacts of raw material price fluctuations, including strengthening supply chain partnerships and optimizing procurement strategies [3] - A focus on optimizing the raw material structure and controlling inventory has been established to minimize cost impacts [3] Group 4: Sales Network and Market Expansion - The company's sales network covers major domestic and international regions, with plans to collaborate with Anshan Iron and Steel to enhance market presence [4] - Strategic products include automotive steel, energy steel, and high-end special steel, with a focus on high-end, intelligent, green, and efficient transformation [4] Group 5: Business Overview and Product Applications - The company engages in various businesses, including steel smelting, processing, power generation, and trade, with over 60 product varieties and 7,500 specifications [6] - Main products are widely used in industries such as automotive, home appliances, and aerospace, and are exported to multiple countries [6] Group 6: Convertible Bonds and Stock Promotion Measures - The company is considering measures to promote the conversion of its convertible bonds, including cost reduction and efficiency improvement strategies [6] - Plans are in place to prepare for bond maturity and explore financing channels, with sufficient credit and low interest rates [6]

Core Viewpoint - The company is focusing on high-end, intelligent, green transformation and is actively collaborating with Anshan Iron and Steel to enhance its competitive advantages in various steel products [1][2]. Group 1: Strategic Focus - The company aims to develop strategic products such as automotive steel, energy steel, and high-end special steel, while prioritizing household appliance steel, container steel, and high-strength steel to improve regional market control and production efficiency [1]. - The company is committed to a transformation towards high-end, intelligent, and green development, emphasizing efficiency and data value extraction [2]. Group 2: Operational Measures - The company has implemented measures to address the negative impacts of raw material price fluctuations, including strengthening supply chain analysis, optimizing procurement strategies, and enhancing strategic partnerships for raw material sourcing [1]. - The company is optimizing its production structure and raw material procurement to reduce production costs and mitigate the adverse effects of raw material price volatility [1]. Group 3: Technological Advancements - The company has achieved improvements in production efficiency through intelligent manufacturing systems that enable continuous 24-hour production with higher speed and precision than manual operations [2]. - The company is focusing on data value extraction and enhancing cybersecurity to support its strategic goals and high-quality development [2]. Group 4: Asset Restructuring - The company is in the process of an asset swap with Benxi Steel, intending to enhance the quality of the listed company and promote high-quality development through this restructuring [2].

| 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]