| 股票代码：000761 | 200761 | 股票简称：本钢板材 | 本钢板 B | 编号：2025-059 | | --- | --- | --- | --- | --- | | 债券代码：127018 | | 债券简称：本钢转债 | | | 审议通过《2025 年第三季度报告》 本钢板材股份有限公司 十届董事会第五次会议决议公告 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 10 月 17 日以电子邮件形式发出会议通知。 2.2025 年 10 月 28 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 《2025 年第三季度报告》刊登于 2025 年 10 月 29 日《中国证券 报》、《证券时报》和巨潮资讯网。 本议案已经公司董事会审计与风险委员会审议通过。 表决结果：赞成 8 票，反对 ...

Core Insights - The company reported a revenue of 10.503 billion yuan in Q3, representing a year-on-year decline of 11.35% [1] - The net profit for Q3 was a loss of 0.817 billion yuan, an improvement from a loss of 1.651 billion yuan in the same period last year, indicating a year-on-year reduction in losses of 50.56% [1] - For the first three quarters, the company achieved a revenue of 35.201 billion yuan, down 12.47% year-on-year [1] - The net profit for the first three quarters was a loss of 2.216 billion yuan, compared to a loss of 3.193 billion yuan in the previous year, reflecting a year-on-year reduction in losses of 30.60% [1]

Market Overview - The steel sector experienced a decline of 1.81% on October 28, with Wujin Stainless Steel leading the drop [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Individual Stock Performance - Notable gainers included: - Sangang Min Guang (002110) with a closing price of 4.48, up 0.90% on a trading volume of 784,300 shares and a turnover of 356 million yuan [1] - Ben Steel Plate (000761) closed at 3.63, up 0.83% with a trading volume of 141,200 shares and a turnover of 51.01 million yuan [1] - Significant decliners included: - Wujin Stainless Steel (603878) which fell 4.85% to a closing price of 10.60, with a trading volume of 356,800 shares and a turnover of 383 million yuan [2] - Baotou Steel (600010) decreased by 3.00% to 2.59, with a trading volume of 11,064,600 shares and a turnover of 2.892 billion yuan [2] Capital Flow Analysis - The steel sector saw a net outflow of 922 million yuan from main funds, while retail investors contributed a net inflow of 668 million yuan [2] - Key stocks with significant capital flow include: - Nanjing Steel (600282) with a net inflow of 20.27 million yuan from main funds, but a net outflow of 11.52 million yuan from retail investors [3] - Heibei Steel (000709) recorded a net inflow of 18.79 million yuan from main funds, while retail investors had a net outflow of 22.39 million yuan [3]

Core Viewpoint - Benxi Steel Plate's stock price has shown a mixed performance in recent months, with a year-to-date increase of 13.75% but a decline of 9.45% over the past 60 days, indicating potential volatility in the steel industry [1]. Group 1: Stock Performance - On October 27, Benxi Steel Plate's stock rose by 2.25%, reaching 3.64 CNY per share, with a trading volume of 32.22 million CNY and a turnover rate of 0.24% [1]. - The stock has experienced a net inflow of 752,100 CNY from main funds, with large purchases amounting to 2.97 million CNY, accounting for 9.21% of total transactions [1]. - The stock's performance over various time frames includes a 1.96% increase in the last 5 trading days, a 1.11% increase in the last 20 days, and a 9.45% decrease in the last 60 days [1]. Group 2: Company Overview - Benxi Steel Plate Co., Ltd. is located in Benxi City, Liaoning Province, and was established on June 27, 1997, with its shares listed on January 15, 1998 [1]. - The company's main business activities include steel smelting, rolling processing, power generation, coal chemical industry, special steel profiles, railways, import and export trade, scientific research, and product sales, with steel plates accounting for 97.40% of its revenue [1]. - As of June 30, the number of shareholders was 46,200, a decrease of 3.47% from the previous period, with an average of 0 circulating shares per person [1]. Group 3: 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%, while the net profit attributable to shareholders was -1.399 billion CNY, an increase of 9.78% year-on-year [1]. - The company has cumulatively distributed 9.174 billion CNY in dividends since its A-share listing, with no dividends distributed in the past three years [2]. Group 4: Shareholding Structure - As of June 30, 2025, the top ten circulating shareholders include China Merchants Securities (Hong Kong) Co., Ltd., which holds 16.01 million shares, an increase of 172,200 shares from the previous period [2]. - Hong Kong Central Clearing Limited is the tenth largest circulating shareholder, holding 10.02 million shares, a decrease of 525,500 shares from the previous period [2].

Market Overview - On October 23, the steel sector rose by 0.32% compared to the previous trading day, with Nanjing Steel leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Individual Stock Performance - Nanjing Steel (600282) closed at 5.26, up 2.14% with a trading volume of 340,700 shares and a turnover of 177 million yuan [1] - Anyang Iron & Steel (600569) closed at 2.44, up 1.67% with a trading volume of 373,700 shares [1] - New Century Steel (000778) closed at 4.00, up 1.27% with a trading volume of 563,300 shares [1] - Hebei Steel (000709) closed at 2.59, up 1.17% with a trading volume of 1,917,500 shares [1] - Ansteel (000898) closed at 2.77, up 1.09% with a trading volume of 367,000 shares [1] Fund Flow Analysis - The steel sector experienced a net outflow of 417 million yuan from institutional investors, while retail investors saw a net inflow of 382 million yuan [2] - The top stocks with significant fund flow include: - Wujin Stainless Steel (603878) with a net inflow of 12.92 million yuan from institutional investors [3] - Youfa Group (601686) with a net inflow of 12.74 million yuan from institutional investors [3] - Chongqing Steel (601005) with a net inflow of 11.07 million yuan from institutional investors [3]

Group 1: Company Insights - iFlytek has accumulated over 50TB of industry corpus and over 1 billion daily user interactions, enhancing its data quality and multi-modal capabilities with the upgrade of its "Xunfei Spark Model" to version 4.0, which competes with GPT-4 Turbo [1] - Baiya Co. has seen over 100% revenue growth in the first three quarters, with a significant contribution from its health product series, which accounts for over 50% of revenue, and is expanding its product scale and upgrades [2] - Tunan Co. reported a decrease in net profit due to increased production but delayed revenue recognition, with a current order backlog corresponding to approximately 1.75 billion yuan [3] - Jiao Cheng Ultrasonic is advancing in the power semiconductor field with a range of welding machines and is developing equipment for solid-state batteries, benefiting from the electric and intelligent development trends [4] - Ben Gang Steel is focusing on high-value product development and efficiency improvements, with its automotive steel recognized as a benchmark in the industry [5] Group 2: Fund Insights - Quan Guo Fund, established in 2022, has an asset management scale of 22.384 billion yuan, ranking 119th among 210 public funds, with its best-performing product showing a 35.14% growth over the past year [5]

Group 1: Company Overview - On October 21, Benxi Steel Plate (000761.SZ) conducted an online investor survey with 30 institutions, including Guohai Securities and CITIC Trust, reflecting high market interest in the company's business layout and future development [1] Group 2: Core Business Insights - The company highlighted its competitive advantages in the automotive steel sector through three main aspects: technological innovation, brand leadership, and green transformation. It has made breakthroughs in ultra-wide and high-strength steel technologies, which are essential for lightweight electric vehicles [2] - The brand "Benxi Wide" focuses on high-end automotive steel products over 2050mm in width, widely used by leading domestic and international electric vehicle manufacturers, establishing itself as an industry benchmark [2] - The company is committed to reducing the carbon footprint of its cold-rolled products by integrating low-carbon metallurgy processes with green product design [2] Group 3: Asset Restructuring - The company is currently in a cautious evaluation phase regarding a significant asset swap announced in June 2023, due to potential impacts on its independent operational capacity. Further assessments on feasibility and compliance are ongoing [3] Group 4: Profit Improvement Strategies - The company has outlined four key directions for profit enhancement: increasing the development and production of high-value-added products, reducing procurement costs, exploring regional cooperation to minimize transportation costs, and advancing smart production process transformations [4] Group 5: Convertible Bond Strategy - To address upcoming maturity pressures on convertible bonds, the company is implementing a dual strategy of enhancing market value and preparing for bond redemption. It is focusing on cost reduction, professional integration, and asset restructuring to improve overall company quality [5] Group 6: Sales Network - The company's sales network covers major regions in China, including Northeast, North China, Central and Western China, East China, and South China, with processing and distribution centers in key economic areas. Internationally, it targets markets in South Korea, Japan, and Southeast Asia, creating a coordinated domestic and international sales strategy [6]

Group 1: Product Advantages - The company's main product is automotive steel, with advantages in technology innovation, including breakthroughs in ultra-wide and high-strength steel core technologies [3] - "BenGang Wide Width" has become a benchmark for high-end automotive steel, focusing on cold-rolled automotive steel products over 2050 mm wide [3] - The company promotes low-carbon transformation in cold-rolled products, aiming to reduce carbon footprint through green metallurgy processes [3] Group 2: Asset Replacement and Financial Strategies - The company is currently evaluating the feasibility and compliance of a major asset replacement plan disclosed in June 2023, which may significantly increase reliance on related parties [3] - To improve profitability, the company plans to enhance R&D and production of high-value-added products, reduce procurement costs, and optimize operational efficiency [3] - The company is preparing for the maturity of convertible bonds while expanding financing channels, with sufficient credit and low loan interest rates [3] Group 3: Market Positioning and Sales Strategy - The company is responding to the "anti-involution" initiative by optimizing production based on market demand and focusing on quality and efficiency [4] - The sales layout covers major domestic regions and includes processing and distribution centers in cities like Shenyang, Dalian, and Tianjin, with exports primarily to South Korea, Japan, and Southeast Asia [4]

Core Points - The company, Benxi Steel Plate, announced plans to conduct an asset swap with Benxi Steel (Group) Co., Ltd. [2] - The assets to be acquired include 100% equity of Benxi Steel (Group) Mining Co., Ltd., while the assets to be divested include all assets and liabilities of the listed company, excluding retained assets and liabilities [2] - The difference in value between the assets being swapped will be compensated in cash by one party to the other [2] - As of the announcement date, the transaction plan requires further verification and negotiation, with the specific asset range and transaction price yet to be finalized [2] - The company will convene another board meeting to review the transaction once the relevant matters are determined [2]

股票代码：000761 200761 股票简称：本钢板材 本钢板 B 编号：2025-057 债券代码：127018 债券简称：本钢转债 本钢板材股份有限公司 关于重大资产置换暨关联交易的进展公告 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.公司于2023年6月21日披露的《本钢板材股份有限公司重大资 产置换暨关联交易预案》的"重大风险提示"中，对本次交易相关 的风险、标的公司有关风险及其他风险进行了说明，敬请广大投资 者注意投资风险。 2.本次交易将导致公司关联销售比例大幅增加，可能导致公司 对控股股东及其他关联方存在重大依赖、对公司面向市场独立持续 经营的能力产生重大影响，本次交易不排除存在交易方案调整、中 止或取消的可能。公司正在对本次交易方案的可行性与合规性做进 一步审慎论证和谨慎评估。 3.本次交易方案仍需进一步论证和沟通协商，相关事项尚存在 不确定性，公司将根据相关事项的进展情况，及时履行信息披露义 务。 一、重大资产置换基本情况 2023年5月23日，公司披露了《关于筹划重大资产置换暨关联交 易的进展公告》（编号：2023-0 ...