Core Viewpoint - The Chinese silicon steel market is experiencing growth, with non-oriented silicon steel dominating production, accounting for 82% of the total output in the first half of 2024, while oriented silicon steel is also on the rise [1][3]. Group 1: Production and Market Trends - In the first half of 2024, China's silicon steel production reached 7.802 million tons, with non-oriented silicon steel production at 6.417 million tons and oriented silicon steel at 1.385 million tons [1]. - The total silicon steel production for 2024 is projected to exceed 15 million tons, maintaining a dominant share for non-oriented silicon steel [1]. - From 2019 to 2023, non-oriented silicon steel capacity increased from 10.96 million tons to 13.71 million tons, with a compound annual growth rate (CAGR) of 7.4% [3]. - Oriented silicon steel production grew from 1.78 million tons in 2019 to 2.96 million tons in 2023, with a forecast of 3.18 million tons for early 2024 [5]. Group 2: Company Developments - Major companies in the non-oriented silicon steel sector include Baosteel, Ansteel, and Taiyuan Iron & Steel, with Baosteel leading with a capacity of over 2 million tons, including 1 million tons of high-grade products [7]. - In the oriented silicon steel market, Baosteel also leads with a capacity of 1.16 million tons, while Wanfeng Electric is noted as the top private enterprise in this segment [7]. - Baosteel's production capabilities include a significant focus on high-grade and thin specifications, with ongoing expansions planned by companies like Shagang and New Steel [7][9].

证券代码：000898 证券简称：鞍钢股份 公告编号：2025-026 鞍钢股份有限公司 关于控股股东增持公司 A 股流通股份计划的进展公告 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、增持计划的基本情况 基于对鞍钢股份有限公司（以下简称鞍钢股份或公司）未来发展的 信心以及对鞍钢股份价值的认可，为维护鞍钢股份价值及股东权益，增 强投资者信心，维护资本市场稳定，公司控股股东鞍山钢铁集团有限公 司（以下简称鞍山钢铁）计划自 2025 年 4 月 22 日起 6 个月内，通过深 圳证券交易所交易系统以集中竞价交易方式增持公司 A 股流通股份，本 次计划增持总金额合计不低于人民币 10,000 万元且不超过人民币 20,000 万元。本次增持计划不设定价格区间。鞍山钢铁将根据鞍钢股份股票价 格波动情况及二级市场整体趋势，择机逐步实施增持计划。鞍山钢铁承 诺在本次增持期间及法定期限内不减持公司股份，并将在上述实施期限 内完成增持计划。 本次增持计划实施可能存在因资本市场情况发生变化，导致增持计 划无法实施的风险。如出现上述风险情形，公司将及时履行信息披露义务。 四 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （股份編號：0347） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條 作 出。 茲載列鞍鋼股份有限公司（「本公司」）於二零二 五 年 五月十三日 在《中國證 券 報》、《證券時報》、《上海證券報》或巨潮資訊網(http://www.cninfo.com.cn) 刊 登 的 以 下 公 告 全 文，僅 供 參 考。 承董事會命 執行董事兼董事長 中國遼寧省鞍山市 二零二 五 年 五月十二日 於 本 公 告 日 期，本 公 司 董 事 會 成 員 如 下： | 執 | 行 | 董 | 事： | 獨 立 | 非 | 執 | 行 | 董 | 事： | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 王 | 軍 | | | 汪建華 | ...

Core Insights - The article discusses the current state and future prospects of the silicon steel industry, highlighting key players, their performance, and strategic developments in the sector [1][3][5]. Industry Overview - The silicon steel industry comprises numerous upstream companies involved in the production of silicon iron and industrial silicon, with major players including Junzheng Group, Ansteel, and New Steel Group [1]. - Midstream production includes companies like Baosteel, Shougang, Taiyuan Iron and Steel, and others, which are significant producers of silicon steel [1]. Company Performance - Baosteel is the world's leading producer of silicon steel, with a production capacity exceeding 4 million tons and a focus on high-value products [15][18]. - Shougang's revenue for the first three quarters of 2024 reached 819.7 billion yuan, with a gross margin of 3.74%, primarily from electrical steel products [13][14]. - Companies like Ansteel and Maanshan Steel are facing challenges, with negative ROE indicating operational inefficiencies and potential market issues [6][7]. Financial Metrics - Baosteel's EPS remains positive, reflecting strong profitability, while companies like Liugang and Chongqing Steel report negative EPS, indicating financial difficulties [7][9]. - The overall profit margin in the steel industry is under pressure, with a reported loss of 34.1 billion yuan in the black metal smelting and rolling industry for the first nine months of 2024 [7]. Market Capitalization - Baosteel's market capitalization stands at 148.32 billion yuan, showcasing its strong market position, while other companies like Baogang and Shougang have lower valuations due to performance issues [9][10]. Production Capacity and Developments - Baosteel's silicon steel production capacity includes 1 million tons per year of oriented silicon steel, leading the industry [15][18]. - Future projects include Shougang's new high-end non-oriented silicon steel production line, expected to produce 350,000 tons annually [18][20]. Strategic Planning - The industry is moving towards high-end, green, and intelligent production, with companies like Baosteel investing in smart manufacturing technologies [20][22]. - Future demand for oriented silicon steel is expected to grow due to the increasing market for high-efficiency transformers, driven by advancements in supercomputing centers [20][22].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年4月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 鞍鋼股份有限公司(備註1) 呈交日期: 2025年5月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00347 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,411,540,000 | RMB | | 1 RMB | | 1,411,540,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 1,411,540,000 | RMB | | 1 RMB | | 1,411,540,000 | | 2. 股份分類 | 普通股 | 股份類別 | ...

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]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 茲通告 鞍 鋼 股 份 有 限 公 司（「本公司」）謹 訂 於 二 零 二 五 年 六 月 三 日（星 期 二） 下午二時正假座中華人民共和國遼寧省鞍山市鐵西區鞍鋼廠區本公司 會 議 室 舉 行 二 零 二 四 年 股 東 周 年 大 會（「股東周年大會」），以 審 議 並 酌 情 批 准 下 列 決 議 案。 普通決議案 – 1 – 1. 審 議 並 批 准 本 公 司 二 零 二 四 年 度 董 事（「董 事」）會（「董事會」）報 告。 2. 審議並批准本公司二零二四年度監事會 報 告。 3. 審 議 並 批 准 本 公 司 二 零 二 四 年 年 報 及 其 摘 要。 4. 審 議 並 批 准 本 公 司 二 零 二 四 年 度 經 審 計 財 務 報 告。 5. 審 議 並 批 准 二 零 二 四 年 度 利 潤 分 配 方 案 ...

Financial Performance - The company reported a net profit attributable to shareholders of RMB -7,122 million for the fiscal year 2024, compared to an adjusted net profit of RMB -3,255 million for 2023, reflecting a significant decline of 118.80%[31]. - Operating revenue for 2024 was RMB 105,101 million, down 9.06% from RMB 115,571 million in 2023[18]. - The company experienced a net cash flow from operating activities of RMB -787 million in 2024, a decrease of 148.08% compared to RMB 1,579 million in 2023[18]. - The total profit for 2024 was RMB -7,035 million, representing a decline of 70.38% from RMB -4,129 million in the previous year[131]. - The company reported a significant increase in income tax expenses for 2024, amounting to RMB 59 million, compared to a tax benefit of RMB 916 million in 2023, reflecting a year-on-year increase of 106.44%[164]. - The company reported a net loss of RMB 7,122 million for 2024, with no cash dividends proposed for shareholders[76]. Share Capital and Structure - The company reported a net asset value of RMB 2,028,817,600 at its establishment in 1997, with an initial issuance of 1,319,000,000 domestic shares at a par value of RMB 1 each[4]. - In 2007, the company completed a share placement of 1,106,022,150 shares at a price of RMB 15.4 per share, increasing total shares to 7,234,807,847[9]. - As of 2022, the company repurchased 52,450,023 A-shares for its stock incentive plan, reducing total shares to 9,369,221,258[11]. - The company implemented a capital reserve conversion plan in June 2019, increasing share capital by 2,170,442,354 shares, bringing total shares to 9,405,250,201[10]. - The company has a total of 7,993,710,201 A-shares and 1,411,540,000 H-shares after the capital increase[10]. - As of February 28, 2025, the company completed the repurchase and cancellation of 14,180,048 restricted shares, reducing the total share capital from 9,383,401,306 shares to 9,369,221,258 shares[118]. Market and Industry Context - The steel industry faced significant challenges in 2024, with national pig iron, crude steel, and steel production at 852 million tons, 1.005 billion tons, and 1.4 billion tons, representing year-on-year declines of 2.3%, 1.7%, and an increase of 1.1% respectively[34]. - The average China Steel Price Index (CSPI) for 2024 was 102.47 points, down 8.39% year-on-year, while the average CRU international steel price index was 197.5 points, down 10.21% year-on-year[35]. - The overall steel consumption in China decreased by 5.4% year-on-year, indicating a stronger decline in demand compared to production[34]. Production and Sales - The company produced 24.30 million tons of iron, 25.44 million tons of steel, and 23.98 million tons of steel products in 2024, with year-on-year decreases of 4.53%, 4.45%, and 2.54% respectively[41]. - The company achieved a steel sales volume of 23.95 million tons in 2024, a year-on-year decrease of 3.64%, with a sales-to-production rate of 99.90%[41]. - Steel processing industry revenue was RMB 104,704 million, accounting for 99.62% of total revenue, down 9.25% from RMB 115,380 million[68]. - Domestic revenue in China was RMB 97,804 million, a decline of 9.78% from RMB 108,411 million[68]. - The sales amount of the top five customers includes related party sales, which accounted for 37.32% of total sales in 2024, down from 39.93% in 2023[144]. Research and Development - The company established a technology innovation department and committee, leading to the development of over 100 key projects that generated a profit of RMB 204 million[42]. - R&D investment increased by 39.22% to RMB 3,972 million in 2024, up from RMB 2,853 million in 2023, with R&D expenditure accounting for 3.78% of operating revenue, an increase of 1.31 percentage points[177]. - The number of R&D personnel rose by 4.17% to 2,373 in 2024, with the proportion of R&D staff increasing to 9.48% from 8.45% in 2023[177]. - The company is developing corrosion-resistant steel for marine construction, aiming to enhance corrosion resistance by 3 times compared to traditional steel, with successful testing completed[165]. - The company has completed the development of a lifecycle assessment (LCA) platform for steel products, enhancing the accuracy of carbon footprint data for automotive and nuclear steel products[166]. Environmental and Social Responsibility - The company has committed to environmental and social responsibilities as part of its governance strategy[1]. - The company’s carbon emissions per ten thousand yuan of output decreased by 1.4% compared to the previous year, with the hot-rolled coil product achieving E-level carbon efficiency certification[51]. - The company is committed to developing green steel products and optimizing energy efficiency to support sustainable development[59]. Governance and Compliance - The company’s management emphasizes the importance of accurate financial reporting and compliance with legal responsibilities[3]. - The company maintained compliance with relevant laws and regulations, including the Company Law and Securities Law of China, as of December 31, 2024[114]. - The company has established a robust internal control system and has not identified any violations during the reporting period[124]. Future Plans and Strategies - The company plans to continue expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[1]. - The company aims to enhance its core competitiveness by focusing on six key capabilities: efficiency improvement, cost transformation, service leadership, technological advancement, smart manufacturing, and ecological integration[54]. - The company plans to invest RMB 3.16 billion in fixed assets and external investments in 2025, funding through self-owned capital, bank loans, and bond issuance[63]. - The company intends to deepen its innovation capabilities by accelerating the transformation of scientific research achievements into practical applications[58]. - The company plans to strengthen its marketing strategies and develop high-value-added new products to deepen its market presence[61].

Financial Performance - The company's operating revenue for Q1 2025 was RMB 25,079 million, a decrease of 9.89% compared to RMB 27,343 million in the same period last year[10]. - The net profit attributable to shareholders was a loss of RMB 554 million, an improvement of 66.55% from a loss of RMB 1,657 million year-on-year[10]. - Operating profit, total profit, net profit, and net profit attributable to shareholders of the parent company all significantly decreased year-on-year, primarily due to a smaller decline in sales prices compared to the previous year and an increase in unit profit from product sales[16]. - The net loss for Q1 2025 was RMB 541 million, an improvement from a net loss of RMB 1,647 million in Q1 2024[30]. - The total comprehensive loss for Q1 2025 was RMB 504 million, an improvement from a loss of RMB 1,519 million in Q1 2024[40]. Cost Management - The gross profit margin showed significant improvement, with the total profit loss reduced by RMB 1,091 million despite a challenging steel market[7]. - The cost per ton of steel decreased by RMB 102 compared to the previous year, with energy costs down by 10% and pig iron costs down by 12%[7]. - Total operating costs for Q1 2025 were RMB 25,734 million, down 12.0% from RMB 29,529 million in Q1 2024[29]. - The company aims to improve operational efficiency and reduce costs in the upcoming quarters to enhance profitability[29]. Cash Flow and Financing - The net cash flow from operating activities was RMB 381 million, a decrease of 45.80% from RMB 751 million in the previous year[10]. - Cash flow from operating activities for Q1 2025 was RMB 381 million, a decrease from RMB 703 million in Q1 2024[33]. - Cash inflow from financing activities totaled 11,192 million RMB, while cash outflow amounted to 11,233 million RMB, resulting in a net cash flow of -41 million RMB from financing activities[35]. - The net cash flow from financing activities for the first quarter of 2025 was 296 million, a significant improvement from a net outflow of 25 million in the first quarter of 2024[46]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 100,516 million, a slight decrease of 0.06% from RMB 100,578 million at the end of the previous year[10]. - Total liabilities reached RMB 52,349 million, an increase from RMB 51,907 million as of December 31, 2024[27]. - The company's equity attributable to shareholders decreased to RMB 47,159 million from RMB 47,679 million[28]. - Current assets totaled RMB 28,201 million, down from RMB 28,250 million in the previous period[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 98,357, including 441 H-share holders[18]. - The top ten shareholders held a total of 5,016,111,529 shares, accounting for 53.54% of the total shares[19]. - The top shareholder, Anshan Iron and Steel Group Co., Ltd., holds 5,016,111,529 shares, representing a significant portion of the company's equity[20]. Research and Development - R&D expenses increased by RMB 37 million year-on-year due to increased investment in external collaborative research projects and national scientific research topics[15]. - Research and development expenses increased to RMB 118 million in Q1 2025 from RMB 81 million in Q1 2024, reflecting a focus on innovation[29]. - The company reported a decrease in sales expenses to RMB 63 million in Q1 2025, down 50.8% from RMB 128 million in Q1 2024[39]. Management Changes - The company has appointed a new vice president and chief accountant, indicating a potential shift in management strategy[23]. Compliance and Standards - The company did not conduct an audit for the first quarter report[47]. - The new accounting standards will be implemented starting in 2025, affecting the financial statements from the beginning of the year[48].