证券代码：000928 证券简称：中钢国际 公告编号：2024-84 第十届监事会第三次会议决议公告 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。 中钢国际工程技术股份有限公司（以下简称"公司"）第十届监事会第三次 会议于 2024 年 11 月 25 日在北京以现场方式召开。会议通知及会议材料于 2024 年11月20日以邮件方式送达公司各位监事。会议由监事会主席董达召集和主持， 应出席会议的监事 3 人，实际出席会议的监事 3 人。会议的召开符合《中华人民 共和国公司法》及《公司章程》的规定。 本次会议审议通过了以下议案： 一、关于与宝武集团财务有限责任公司签订《金融服务协议》并申请综合授 信的议案 同意公司与宝武集团财务有限责任公司签署《金融服务协议》并申请综合授 信。 表决结果：3 票同意，0 票反对，0 票弃权。 中钢国际工程技术股份有限公司 该议案尚需提交公司股东大会审议。 二、关于公司 2025 年年度日常关联交易计划的议案 2025 年公司与关联人发生的日常关联交易是公司日常经营所必需的，日常 关联交易计划是按照"公平自愿、互惠互利"的原则制 ...

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、关联交易概述 1. 中钢国际工程技术股份有限公司（以下简称"本公司"或"公司"）拟与 宝武集团财务有限责任公司（以下简称"宝武财务公司"）签署《金融服务协议》 并向宝武财务公司申请综合授信。 证券代码：000928 证券简称：中钢国际 公告编号：2024-85 中钢国际工程技术股份有限公司 关于与宝武财务公司签署《金融服务协议》、申请综合授信 暨关联交易的公告 | | 2023 | 年 | 12 月 | 31 | 日（经审计） | 2024 | 年 9 | 月 30 | 日（未经审计） | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 资产总额 | | | | 870.04 | 亿元 | | | | 713.65 | 亿元 | | 其中：信贷余额 | | | | 224.08 | 亿元 | | | | 250.68 | 亿元 | | 负债总额 | | | | 768.36 | 亿元 | | | | 611.22 ...

中钢国际 独立董事专门会议审核意见 中钢国际工程技术股份有限公司 第十届董事会独立董事 2024 年第三次专门会议 审核意见 根据《中华人民共和国公司法》《上市公司独立董事管理办法》《深圳证券交 易所股票上市规则》及《中钢国际工程技术股份有限公司章程》和《中钢国际工 程技术股份有限公司独立董事工作制度》的有关规定，中钢国际工程技术股份有 限公司（以下简称"公司"）已于 2024 年 11 月 25 日召开第十届董事会独立董事 2024 年第三次专门会议，基于独立判断立场，本着认真、严谨、负责的态度， 公司独立董事就本次会议的议案发表专项意见如下： 一、关于与宝武集团财务有限责任公司签订《金融服务协议》并申请综合授 信的议案 中钢国际 独立董事专门会议审核意见 存在损害公司及股东利益的情形。基于上述情况，同意将该议案提交董事会审议。 （以下无正文） 2 该关联交易是为有效控制公司运营成本，满足正常生产经营需要而发生，交 易价格合理、公允，没有违反公开、公平、公正的原则，不存在损害公司及股东 利益的情形。同意将该议案提交董事会审议。 该关联交易属于公司的正常经营需要，符合"公平自愿、互惠互利"的原则， 决策程序合 ...

证券代码：000928 证券简称：中钢国际 公告编号：2024-86 中钢国际工程技术股份有限公司 2025 年年度日常关联交易预计的公告 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、日常关联交易基本情况 （一）日常关联交易概述 | 类别 | | | | | 计） | 经审计） | | --- | --- | --- | --- | --- | --- | --- | | | 宝钢工程技术集团有 | | | | | | | | | 采购商品 | 市场原则 | 38,000 | 13,434.34 | 7,104.08 | | | 限公司 | | | | | | | | 北京中宏联工程技术 | 采购商品 | 市场原则 | 34,500 | 25,385.59 | 19,253.31 | | | 有限公司 | | | | | | | | 安徽马钢重型机械制 | 采购商品 | 市场原则 | 16,500 | 2,871.10 | - | | | 造有限公司 | | | | | | | | 中钢集团邢台机械轧 | 采购商品 | 市场原则 | 12,000 | ...

证券代码：000928 证券简称：中钢国际 公告编号：2024-87 中钢国际工程技术股份有限公司 关于召开 2024 年第五次临时股东大会的通知 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、召开会议的基本情况 1．会议名称：2024 年第五次临时股东大会。 3．会议召开的合法、合规性：经公司第十届董事会第三次会议审议通过， 决定召开 2024 年第五次临时股东大会，召集本次股东大会符合《中华人民共和 国公司法》《深圳证券交易所股票上市规则》等有关法律、规范性文件以及《中 钢国际工程技术股份有限公司公司章程》的规定。 4．会议时间： 现场会议时间：2024 年 12 月 11 日下午 2 时 30 分。 网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2024 年 12 月 11 日 9:15—9:25，9:30—11:30 和 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 2024 年 12 月 11 日 9:15—15:00 的任意时间。 5．会议的召开方式：本次股东大会采用现场表决与网络投票相结合的方式 ...

Investment Rating - The report maintains a "Buy" rating for Sinosteel Engineering & Technology Co Ltd (000928 SZ) with a target price of 7 76 RMB per share [1][3] Core Views - Overseas orders are expected to maintain strong growth particularly in the Russian-speaking region with a significant increase in Q3 2024 [1] - The company's Q3 2024 gross margin improved significantly leading to better-than-expected earnings growth [1] - The "Belt and Road" initiative is expected to further boost the company's overseas orders [1] Financial Performance - In Q1-Q3 2024 the company reported revenue of 12 603 billion RMB a YoY decrease of 26 56% while net profit attributable to shareholders increased by 30 36% to 640 million RMB [1] - Q3 2024 revenue was 3 529 billion RMB a YoY decrease of 45 42% but net profit attributable to shareholders increased by 48 67% to 221 million RMB [1] - Gross margin and net margin for Q1-Q3 2024 were 12 39% and 5 30% respectively up by 3 84 and 2 28 percentage points YoY [1] Order Book - In Q1-Q3 2024 the company signed new contracts worth 15 05 billion RMB a YoY increase of 4% with overseas contracts accounting for 12 29 billion RMB a YoY increase of 81% [1] - Q3 2024 new contracts were worth 5 35 billion RMB a YoY increase of 6% with overseas contracts contributing 4 18 billion RMB a YoY increase of 215% [1] Profit Forecast - The company is expected to achieve net profit attributable to shareholders of 865 million RMB in 2024 1 038 billion RMB in 2025 and 1 188 billion RMB in 2026 [1] - EPS is forecasted to be 0 60 RMB in 2024 0 72 RMB in 2025 and 0 83 RMB in 2026 [2] Valuation Metrics - The company's P/E ratio is projected to be 11 89x in 2024 9 91x in 2025 and 8 66x in 2026 [2] - ROE is expected to be 10 0% in 2024 10 7% in 2025 and 10 9% in 2026 [2] Financial Ratios - Gross margin is forecasted to be 11 3% in 2024 11 1% in 2025 and 10 9% in 2026 [11] - Net margin is expected to be 5 0% in 2024 5 1% in 2025 and 5 1% in 2026 [11] - The debt-to-asset ratio is projected to be 61 9% in 2024 62 0% in 2025 and 61 3% in 2026 [11]

Group 1: Overseas Business Development - The overseas steel industry is expected to grow steadily during China's structural adjustment period, with a positive outlook for new contracts in 2024. As of the third quarter, the overseas new contract amount reached 12.291 billion CNY, accounting for 81.66%, primarily in North Africa (Algeria, Egypt, Guinea) [2] - Recent breakthroughs in the mining sector include the successful launch of the South African platinum mine and new contracts for projects in Algeria and Guinea, enhancing the company's international engineering capabilities [3] Group 2: Financial Management - The company has established a comprehensive project payment collection mechanism, implementing specific targets and responsibilities to improve cash flow in the fourth quarter [4] - Continuous cost control and enhanced project management are aimed at maintaining the company's gross profit margin, alongside increased promotion of competitive technological advantages [5][6] Group 3: Debt Restructuring - The debt restructuring of the China Steel Group is progressing as planned, with the transfer of shares to China Steel Capital completed and awaiting compliance confirmation from the Shenzhen Stock Exchange [7]

证券代码：000928 证券简称：中钢国际 公告编号：2024-82 中钢国际工程技术股份有限公司 关于国有股权无偿划转暨直接控股股东变更的进展公告 公司于 2024 年 10 月 10 日接到控股股东中钢集团通知，中钢集团及其下属 子公司中钢股份、中钢资产与中钢股份的全资子公司中钢资本签署了《股份无偿 划转协议》，拟将合计持有的中钢国际 698,001,905 股股份（占中钢国际股份总数 的 48.66%）无偿划转给中钢资本。2024 年 10 月 8 日，中国宝武钢铁集团有限公 司作出《关于中钢集团及下属子公司所持中钢国际股权和中钢天源股权划转至中 钢资本的批复》（宝武字〔2024〕376 号），同意本次无偿划转事项。 1 本次无偿划转系在公司控股股东及其控制的不同主体之间进行，本次无偿划 转完成后，公司的直接控股股东将由中钢集团变更为中钢资本，实际控制人未发 生变更，仍为国务院国有资产监督管理委员会。 就上述无偿划转事项，公司于 2024 年 10 月 11 日在《证券时报》《上海证券 报》和巨潮资讯网披露了《关于国有股权无偿划转暨直接控股股东变更的提示性 公告》（公告编号：2024-72），在巨潮资讯 ...

Investment Rating - The investment rating for the company is "Accumulate" [3][5] Core Views - The company has seen a rapid growth in overseas orders, and the domestic steel industry's green and low-carbon transformation is expected to release new demand. The company is strategically positioning itself in cutting-edge technologies such as direct reduction iron and hydrogen metallurgy, which may create a differentiated competitive advantage [4][5]. Financial Summary - The forecasted EPS for 2024-2026 is 0.60, 0.68, and 0.76 yuan, representing growth rates of 14%, 13%, and 12% respectively. The target price is maintained at 9.57 yuan, corresponding to a PE of 16 times for 2024 [5]. - For the first three quarters of 2024, the company's revenue was 12.603 billion yuan, a year-on-year decrease of 26.56%. However, the net profit attributable to shareholders increased by 30.36% to 640 million yuan [5]. - The operating cash flow for the first three quarters of 2024 was -3.985 billion yuan, compared to -968 million yuan in the same period of 2023 [5]. - The company signed new orders worth 15.1 billion yuan in the first three quarters of 2024, a year-on-year increase of 4.4%, with overseas orders increasing by 80.5% [5][15]. Order and Market Trends - The new orders for the third quarter of 2024 amounted to 5.4 billion yuan, with a year-on-year increase of 6.2%. The growth rate for overseas orders in the same period was 215.1% [5][15]. - The company aims to steadily expand its overseas order scale, particularly in regions such as Africa [5][15]. Competitive Positioning - The company has established a low-carbon metallurgy engineering technology system, which includes high furnace decarbonization and carbon asset management, providing it with a competitive edge [5]. - The company's current dividend yield is 3.79%, and its price-to-book ratio is 1.23, which is at the 25th percentile of its historical data over the past 10 years [5].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the stock over the next six months [4][6]. Core Insights - The company experienced a temporary decline in revenue during the first three quarters of 2024, but achieved significant profit growth in Q3, primarily due to improved gross margins [1][3]. - The company has a strong backlog of orders, with a total new contract value of 150.52 billion, reflecting a 4.41% year-on-year increase, driven by substantial growth in overseas markets [2][4]. - The gross margin for Q3 improved significantly, reaching 14.8%, which is a 6.49 percentage point increase year-on-year, suggesting a positive trend for future profitability [3][4]. Financial Performance Summary - For the first three quarters of 2024, the company reported revenue of 12.603 billion, a year-on-year decrease of 26.56%, while net profit attributable to shareholders was 640 million, an increase of 30.36% [1]. - The company’s comprehensive gross margin for the first three quarters was 12.39%, up 3.84 percentage points year-on-year, indicating improved operational efficiency [3]. - The projected net profit for 2024-2026 is expected to be 880 million, 1.01 billion, and 1.15 billion respectively, with corresponding P/E ratios of 11.5, 10, and 8.7 [4][5]. Order and Market Outlook - The company has a robust pipeline of projects, with an estimated total revenue from uncompleted projects of 1,024.80 billion, indicating strong future revenue potential [2]. - The company is actively expanding its overseas business, particularly in regions such as the Russian-speaking area, Africa, and South America, which presents significant growth opportunities [2][4].