本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 鞍钢股份有限公司（以下简称公司）于 2025 年 8 月 27 日在巨潮资讯 网（http://www.cninfo.com.cn）发布了 2025 年半年度报告。根据《深 圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等有关规定，公司定于 2025 年 8 月 29 日 （星期五）15:00-16:30 在全景网召开 2025 年半年度网上业绩说明会。本 次业绩说明会将采用网络远程的方式举行，投资者可登陆全景"投资者关 系平台"（https://ir.p5w.net）参与本次业绩说明会。 公司出席本次业绩说明会的人员有：总经理田勇先生；执行董事、副 总经理、总会计师、董事会秘书李景东先生；独立非执行董事胡彩梅女士。 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 8 月 28 日（星期四）15:00 前访问 https://ir.p5w.net/zj/，或扫描下方二 维码 ...

索引 页码 公司财务报表 —合并资产负债表 1-2 —合并利润表 3 —合并现金流量表 4 —合并股东权益变动表 5-6 —母公司资产负债表 7-8 —母公司利润表 9 —母公司现金流量表 10 —母公司股东权益变动表 11-12 —财务报表附注 13-100 2025 半年度财务报表 鞍钢股份有限公司 2025 半年度 财务报告 合并资产负债表 2025 年 6 月 30 日 编制单位：鞍钢股份有限公司 单位：人民币百万元 | 项目 | 附注 | 年 月 日 2025 6 30 | 年 月 日 2024 12 31 | | --- | --- | --- | --- | | 流动资产： | | | | | 货币资金 | 六、1 | 3,134 | 4,544 | | 交易性金融资产 | 六、2 | 16 | 15 | | 衍生金融资产 | 六、3 | 4 | | | 应收票据 | 六、4 | 235 | 55 | | 应收账款 | 六、5 | 2,711 | 2,952 | | 应收款项融资 | 六、6 | 1,809 | 918 | | 预付款项 | 六、7 | 2,794 | 3,189 | | 其他应 ...

鞍钢股份有限公司 薪酬与考核委员会职权范围书 第一章 成 员 第一条 委员会的成员由董事会任命，至少须由三名成员组 成，大部分成员应为公司独立非执行董事。 第二条 委员会成员每届任期为三年，任职时间与董事任期 一致。 第二章 主 席 第三条 委员会主席（"主席"）应由董事会任命，并应为 独立非执行董事。 第四条 主席负责与董事会联络，并主持委员会会议。 第十一条 董事会授权委员会向外部咨询法律或其他独立 的专业意见；如有需要，可邀请具备相关经验及专业知识的外界 人士出席会议。 第五章 职 责 第五条 若委员会主席缺席，出席会议的委员会其他成员应 在他们当中选出一位成员主持委员会会议。 第六条 主席应出席公司的年度股东会，并应准备回答股东 就委员会的职责所提出的问题。 第三章 秘 书 第七条 委员会秘书（"秘书"）应由公司秘书出任。 - 1 - 第八条 秘书或其代表应参加委员会会议以作会议记录。 第九条 若秘书缺席，出席会议的委员会成员应另选一人作 为秘书。 第四章 权 力 第十条 董事会授权委员会对其职权范围内的事项进行调 查。委员会有权向任何雇员索取任何所需资料，而所有雇员亦获 指示与委员会合作，满足其任何 ...

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 八月二十七 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 鞍鋼股份有限公司 王 軍 執行董事兼董事長 中國遼寧省鞍山市 二零二 五 年 八月二十六日 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： | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

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、召开会议基本情况 1. 会议届次：鞍钢股份有限公司 2025 年第三次临时股东会 2. 会议召集人：本公司董事会 2025 年 8 月 26 日，本公司第十届第二次董事会批准公司于 2025 年 9 月 19 日召开 2025 年第三次临时股东会。 3. 会议召开的合法、合规性：鞍钢股份有限公司 2025 年第三次临时 股东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。 4. 会议召开的日期、时间： 证券代码：000898 证券简称：鞍钢股份 公告编号：2025-049 鞍钢股份有限公司 关于召开 2025 年第三次临时股东会的通知 现场会议召开时间：2025 年 9 月 19 日 14:00。 网络投票时间：2025 年 9 月 19 日，其中，通过深圳证券交易所交易 系统进行网络投票的具体时间为：2025 年 9 月 19 日 9:15-9:25，9:30-11:30， 13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 9 月 19 日 ...

证券代码：000898 证券简称：鞍钢股份 公告编号：2025-047 鞍钢股份有限公司 议案一、以 8 票同意，0 票反对，0 票弃权的表决结果，通过《2025 年半年度报告》及其摘要。 《鞍钢股份有限公司 2025 年半年度报告》及其摘要刊登于 2025 年 8 月 27 日 中 国 证 券 报 、 证 券 时 报 、 上 海 证 券 报 或 巨 潮 资 讯 网 http://www.cninfo.com.cn。 第十届第二次董事会决议公告 议案二、以 8 票同意、0 票反对、0 票弃权的表决结果，通过《聘任 田勇先生为公司总经理的议案》。 本公司及其董事保证信息披露内容的真实、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 鞍钢股份有限公司（以下简称公司）于 2025 年 8 月 11 日以书面和 电子邮件方式发出董事会会议通知，并于 2025 年 8 月 26 日在公司会议 室召开第十届第二次董事会，董事长王军先生主持会议。公司现有董事 8 人，出席本次会议董事 8 人。本次会议的召开符合《公司法》《公司 章程》的有关规定。 该议案已经过公司提名委员会审议通过。 二、董事会 ...

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 八月二十七 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 鞍鋼股份有限公司 王 軍 執行董事兼董事長 中國遼寧省鞍山市 二零二 五 年 八月二十六日 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： | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

Part I Important Notice, Table of Contents, and Definitions [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The board and management guarantee report accuracy, noting forward-looking risks, no half-year dividends, and unaudited preparation under Chinese Accounting Standards - The company's board of directors, senior management, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the report content[4](index=4&type=chunk) - The company will not distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[6](index=6&type=chunk) - The company's 2025 semi-annual financial report is unaudited and prepared in accordance with Chinese Accounting Standards[7](index=7&type=chunk)[8](index=8&type=chunk) [Reference Documents](index=4&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) This section lists reference documents for the reporting period, including signed financial statements and publicly disclosed company files - Reference documents include signed and sealed financial statements, originals of publicly disclosed company documents and announcements, and the semi-annual report disclosed on the Hong Kong Stock Exchange[12](index=12&type=chunk) - All reference documents are stored at the Board Secretary's Office of Angang Steel Company Limited[12](index=12&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms used in the report, clarifying key entities and explaining specific related transaction framework agreements Key Definitions | Term | Definition | | :--- | :--- | | The Company, Company, Angang Steel Co., Ltd. | Angang Steel Company Limited | | The Group | Angang Steel Company Limited and its subsidiaries | | Anshan Iron and Steel | Anshan Iron and Steel Group Co., Ltd., the controlling shareholder of the Company | | Angang | Ansteel Group Corporation Limited, the actual controller of the Company | | Daily Related Transaction Framework Agreements | Collectively refers to "Framework Agreement for Mutual Supply of Goods (2025-2027)", "Framework Agreement for Mutual Supply of Services (2025-2027)", "Financial Services Agreement (2025-2027)", and "Industrial Financial Services Framework Agreement (2025-2027)" | Part II Company Profile and Key Financial Indicators [I. Company Information](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) Angang Steel Co., Ltd. is listed on the Shenzhen Stock Exchange (A-share code: 000898) and the Hong Kong Stock Exchange (H-share code: 00347), with Wang Jun as its legal representative - The company's shares are listed on the Shenzhen Stock Exchange (A-share code: 000898) and the Hong Kong Stock Exchange (H-share code: 00347)[15](index=15&type=chunk) - The company's legal representative is Wang Jun[15](index=15&type=chunk) [II. Contact Person and Contact Information](index=6&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) This section provides detailed contact information for the company's Board Secretary Li Jingdong and Securities Affairs Representative Zhang Junfeng for investor communication Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Li Jingdong | Angang Factory Area, Tiexi District, Anshan City, Liaoning Province, China | 0412-6736889 | 0412-6722093 | lijingdong69@ansteel.com.cn | | Securities Affairs Representative | Zhang Junfeng | Angang Factory Area, Tiexi District, Anshan City, Liaoning Province, China | 0412-8417273 0412-6751100 | 0412-6727772 | zhangjunfeng@ansteel.com.cn | [III. Other Information](index=6&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) During the reporting period, there were no changes to the company's registered address, office address, website, email, information disclosure website and media, or the location for semi-annual report availability - The company's contact information, information disclosure, and storage locations remained unchanged during the reporting period, with specific details available in the 2024 annual report[17](index=17&type=chunk)[19](index=19&type=chunk)[20](index=20&type=chunk) [IV. Key Accounting Data and Financial Indicators of the Group](index=7&type=section&id=%E5%9B%9B%E3%80%81%E6%9C%AC%E9%9B%86%E5%9B%A2%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2025, the company's operating revenue decreased by 12.35% to RMB 48,599 million, but net loss attributable to shareholders significantly narrowed by 57.46% to RMB 1,144 million Key Accounting Data and Financial Indicators for H1 2025 (RMB million) | Item | Current Reporting Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 48,599 | 55,449 | -12.35 | | Net Profit Attributable to Shareholders of Listed Company | -1,144 | -2,689 | 57.46 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | -1,231 | -2,670 | 53.90 | | Net Cash Flow from Operating Activities | 405 | 572 | -29.20 | | Basic Earnings Per Share (RMB/share) | -0.122 | -0.287 | 57.49 | | Diluted Earnings Per Share (RMB/share) | -0.122 | -0.287 | 57.49 | | Weighted Average Return on Net Assets (%) | -2.43 | -5.03 | Increased by 2.60 percentage points | | **Item** | **End of Current Reporting Period** | **End of Prior Year** | **Change from Prior Year-End (%)** | | Total Assets | 98,421 | 100,578 | -2.14 | | Owners' Equity Attributable to Shareholders of Listed Company | 46,610 | 47,679 | -2.24 | [V. Non-recurring Gains and Losses](index=7&type=section&id=%E4%BA%94%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE) In the first half of 2025, the company's total non-recurring gains and losses amounted to RMB 87 million, primarily from government subsidies and asset disposal gains Non-recurring Gains and Losses for H1 2025 (RMB million) | Item | Amount | | :--- | :--- | | 1. Gains/losses from disposal and scrapping of non-current assets | 2 | | 2. Government subsidies recognized in current profit/loss (excluding those closely related to normal operations, compliant with national policies, enjoyed at fixed standards, and with continuous impact on company profit/loss) | 101 | | 3. Fair value changes of trading financial assets | 1 | | 4. Fair value changes of other non-current financial assets | 16 | | 5. Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 1 | | 6. Other non-operating income and expenses apart from the above | 15 | | Subtotal | 136 | | Less: Income tax impact | 26 | | Impact on minority interests (after tax) | 23 | | Total | 87 | Part III Management Discussion and Analysis [I. Main Business Activities of the Company During the Reporting Period](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) In the first half of 2025, the company primarily engaged in steel manufacturing and related industries, achieving significant progress in various initiatives despite market challenges - The company primarily engages in steel manufacturing, and also develops related industries such as steel processing and distribution, chemicals, green energy, e-commerce, and clean power generation[28](index=28&type=chunk) - The company operates three major production bases in Anshan, Yingkou, and Chaoyang, offering a complete product range including hot-rolled coils, medium and heavy plates, and cold-rolled sheets

Core Viewpoint - The resignation of key executives at Ansteel Co., Ltd. raises concerns about the company's governance and strategic execution amid ongoing challenges in its structural transformation and performance pressure [2][9]. Executive Changes - Ansteel announced significant personnel changes, with Executive Director and General Manager Zhang Hongjun and Vice General Manager Deng Qiang resigning [1][2]. - Zhang Hongjun held 132,000 shares in the company and committed not to transfer them within six months post-resignation, while Deng Qiang did not hold any shares [2]. Financial Performance - Ansteel's 2024 financial report indicates a revenue of 1,051.01 billion RMB, a decline of 9.06% year-on-year, and a total profit loss of 7.035 billion RMB, down 70.38% [5]. - The net profit attributable to shareholders was a loss of 7.122 billion RMB, representing a 118.8% decline compared to the previous year [5]. - Despite advancements in high-end products and green manufacturing, the company faces pressure from steel prices, rising raw material costs, and weak demand [5]. Management Background - Zhang Hongjun has a long history within the Ansteel system, contributing to key projects but overseeing a period of declining performance [3][4]. - Deng Qiang's career has been diverse, with experience across various subsidiaries, but his short tenure at Ansteel suggests ongoing challenges in strategic alignment [6][9]. Strategic Implications - The resignations may signal a shift in Ansteel's governance structure and strategic direction, highlighting the need for improved management and market strategies [9]. - The company is at a critical juncture, facing dual challenges of high-end transformation and profitability recovery, which will influence its competitive positioning in the next industry cycle [9].

Core Viewpoint - The powder high-speed steel market is expanding due to increasing demand in high-end manufacturing sectors such as aerospace and automotive, with the market size in China projected to reach 3.9 billion yuan in 2024, a year-on-year increase of 4% [1][12]. Industry Overview - Powder high-speed steel is produced using powder metallurgy technology, which offers significant advantages over traditional casting methods, such as uniform distribution of carbide particles, leading to improved strength, toughness, and hardness [2][4]. - The production process involves high-pressure inert gas or water atomization to create fine, uniform steel powder, which is then shaped and sintered [2]. Industry Development History - The powder high-speed steel industry has evolved over decades, with the first generation emerging in the 1960s. The introduction of new technologies in the 1990s significantly reduced impurity levels, leading to the second generation, while the third generation, post-2000, features finer steel powder and further improved properties [6][10]. Industry Chain - The upstream materials for powder high-speed steel include hard alloy steel powder, carbon steel, tungsten, molybdenum, chromium, vanadium, and cobalt. The midstream involves the production of powder high-speed steel, while the downstream applications span mechanical processing, automotive, aerospace, and mold manufacturing [8]. Current Industry Status - Domestic production of powder high-speed steel has increased significantly, with a production volume of 15,600 tons in 2018, projected to grow to 19,500 tons by 2024, reflecting a compound annual growth rate of 3.8% [10][12]. Competitive Landscape - International companies like Sandvik, Erasteel, Toshiba Materials, and Kennametal dominate the high-end market, while domestic leaders like Tiangong International are making strides in mid-to-high-end market segments through technological advancements [14]. Key Companies - Tiangong International, established in 1981, is a leading manufacturer of high-speed steel and cutting tools, with a revenue of 4.832 billion yuan in the 2024 fiscal year, a decrease of 6.42% year-on-year [16]. - HeYe Technology, a subsidiary of Antai Technology, specializes in high-speed tool steel and has a broad market presence across various industrial sectors [18]. Industry Trends - Continuous technological innovation is expected to enhance the performance of powder high-speed steel, with a focus on optimizing alloy compositions and improving sintering processes [20]. - The market is becoming increasingly competitive, necessitating domestic companies to strengthen their technological capabilities and brand positioning [21]. - The industry is also moving towards green transformation, with companies adopting energy-efficient production methods and cleaner technologies to reduce environmental impact [23].