Core Viewpoint - Hongye Futures (001236) announced that its controlling shareholder, Suhao Holdings Group, plans to reduce its stake through Zhongshan Company by selling up to 24.255 million H-shares starting from December 1 for a period of six months, representing a maximum reduction of 2.41% of the company's total issued shares [1] Group 1 - The planned share reduction will be executed via centralized bidding [1] - The maximum number of shares to be sold is 24.255 million [1] - The reduction period is set for six months starting from December 1 [1]

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 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Holly Futures （ 於 中 華 人 民 共 和 國 （ 「 中 國 」 ） 註 冊 成 立 的 股 份 有 限 公 司 ， 中 文 公 司 名 稱 蘇 豪 弘 業 期 貨 股 份 有 限 公 司（前稱弘業期貨股份有限公司） ， 在 香 港 以 Holly Futures 的 名 義 開 展 業 務 ) ( 「 本 公 司 」 ) （股 份 代 號：3678） 關於控股股東下屬公司擬減持本公司H股的公告 本 公 司 近 日 收 到 蘇 豪 控 股 集 團 鍾 山 有 限 公 司（以 下 簡 稱「鍾山公司」）的 通 知，計 劃 自2025年12月1日 起6個月內以集中競價方式減持不超過24,255,000股本公司H 股（佔 本 公 司 已 發 行 股 份 總 額 約2.41%），減 持 價 格 區 間 根 據 減 持 時 的 市 場 價 格 ...

Core Viewpoint - Hongye Futures (001236) announced that Zhongshan Company, a subsidiary of Suhao Holdings Group, plans to reduce its holdings of H-shares by up to 24.255 million shares, representing approximately 2.41% of the company's total issued shares, within six months starting from December 1, 2025 [1] Group 1 - Suhao Holdings directly and indirectly holds about 510 million shares of the company, accounting for approximately 50.58% of the total issued shares [1] - Suhao Holdings directly owns about 275 million A-shares, which is approximately 27.33% of the total issued shares [1] - The company also holds approximately 210 million A-shares through its subsidiaries, representing about 20.84% of the total issued shares [1] Group 2 - The planned share reduction will not affect the company's operations, finances, or future development significantly [1] - After the share reduction, Suhao Holdings will remain the controlling shareholder of the company [1]

Core Viewpoint - Hongye Futures (03678) announced that Zhongshan Company plans to reduce its holdings of the company's H-shares by up to 24.255 million shares, accounting for approximately 2.41% of the total issued shares, through centralized bidding starting from December 1, 2025 [1] Group 1 - Zhongshan Company is a subsidiary of Suhao Holdings Group, which directly and indirectly holds about 510 million shares of the company, representing approximately 50.58% of the total issued shares [1] - Suhao Holdings directly holds about 275 million A-shares, accounting for approximately 27.33% of the total issued shares, and through its associates holds an additional 210 million A-shares, representing about 20.84% of the total issued shares [1] - After the share reduction plan, Suhao Holdings will remain the controlling shareholder of the company, and the reduction will not have a significant impact on the company's operations, finances, or future development [1]

Core Viewpoint - Hongye Futures (03678.HK) announced that its shareholder, Zhongshan Company, plans to reduce its holdings of H shares by up to 24,255,000 shares, representing approximately 2.41% of the total issued shares, within six months starting from December 1, 2025 [1] Group 1 - Zhongshan Company will determine the reduction price based on market conditions at the time of the sale [1] - The controlling shareholder, Jiangsu Suhao Holding Group Co., Ltd., holds a total of 509,750,107 shares, accounting for about 50.58% of the total issued shares [1] - Jiangsu Suhao directly holds 275,456,777 A shares, which is approximately 27.33% of the total issued shares [1] Group 2 - Jiangsu Suhao, through its concerted actions with subsidiaries, holds an additional 210,038,330 A shares, representing about 20.84% of the total issued shares [1] - Zhongshan Company, as a wholly-owned offshore subsidiary of Jiangsu Suhao, holds 24,255,000 H shares, which is approximately 2.41% of the total issued shares [1]

于本公告日期，公司控股股东江苏省苏豪控股集团有限公司(以下简称"苏豪控股")直接及间接持有本公 司509,750,107股股份，占公司已发行股份总额约50.58%。其中，苏豪控股(i)直接持有本公司 275,456,777股A股，占公司已发行股份总额约27.33%；(ii)分别通过苏豪弘业股份有限公司、江苏苏豪 汇鸿集团股份有限公司(前称江苏汇鸿国际集团股份有限公司)及江苏弘业国际物流有限公司(均为其一致 行动人)持有公司合共210,038,330股A股，占公司已发行股份总额约20.84%；并(iii)通过其全资境外子公 司钟山公司(为其一致行动人)持有公司24,255,000股H股，占公司已发行股份总额约2.41%。 格隆汇11月11日丨弘业期货(03678.HK)公告，公司近日收到苏豪控股集团钟山有限公司(以下简称"钟山 公司")的通知，计划自2025年12月1日起6个月内以集中竞价方式减持不超过24,255,000股公司H股(占公 司已发行股份总额约2.41%)，减持价格区间根据减持时的市场价格及交易方式确定。 ...

本 公 司 近 日 收 到 蘇 豪 控 股 集 團 鍾 山 有 限 公 司（以 下 簡 稱「鍾山公司」）的 通 知，計 劃 自2025年12月1日 起6個月內以集中競價方式減持不超過24,255,000股本公司H 股（佔 本 公 司 已 發 行 股 份 總 額 約2.41%），減 持 價 格 區 間 根 據 減 持 時 的 市 場 價 格 及 交 易 方 式 確 定（「股份減持計劃」）。 （ 於 中 華 人 民 共 和 國 （ 「 中 國 」 ） 註 冊 成 立 的 股 份 有 限 公 司 ， 中 文 公 司 名 稱 蘇 豪 弘 業 期 貨 股 份 有 限 公 司（前稱弘業期貨股份有限公司） ， 在 香 港 以 Holly Futures 的 名 義 開 展 業 務 ) ( 「 本 公 司 」 ) （股 份 代 號：3678） 關於控股股東下屬公司擬減持本公司H股的公告 於 本 公 告 日 期，本 公 司 控 股 股 東 江 蘇 省 蘇 豪 控 股 集 團 有 限 公 司（以 下 簡 稱「蘇 豪 控 股」）直 接 及 間 接 持 有 本 公 司509,750,107股 股 份，佔 本 公 司 已 發 行 股 ...

证券之星消息，11月11日弘业期货发生大宗交易，交易数据如下： | 股东名称 | 变动日期 増減 | 变动股数 | 变动比例 | 变动后 | 变动后 | | --- | --- | --- | --- | --- | --- | | | | (万股) | | 持股数 (万股) | 占总股本比例 | | 江苏弘示实业有限公司 | 2025-10-23 减持 | -1568.49 | 1.56% | 1913.49 | 1.90% | | 江苏苏豪汇鸿集团股份有限公司 | 2025-09-17 减持 | -317.46 | 0.32% | 6075.55 | 6.03% | | 江苏弘业国际物流有限公司 | 2025-09-17 减持 | -277.36 | 0.28% | 551.17 | 0.55% | | 江苏弘苏实业有限公司 | 2025-06-11 减持 | -1556.90 | 1.54% | 3481.98 | 3.46% | 该股最近90天内无机构评级。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 大宗交易成交价格1 ...

| 权益类证券大宗交易(协议交易) | | | | | | | 团 下载 | | --- | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交量 (万股/万份) | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | 2025-11-11 | 001236 | 弘非期货 | 10.09 | 60.00 | 605.40 机构专用 | | 方正证券股份有限 | | | | | | | | | 公司上海浦东新区 | | | | | | | | | 成山路证券营业部 | 11月11日，弘业期货大宗交易成交60万股，成交额605.4万元，占当日总成交额的7.4%，成交价10.09 元，较市场收盘价11.04元折价8.61%。 ...

1. Report Industry Investment Rating - No relevant content provided. 2. Core View of the Report - The steel market shows a pattern of both supply and demand decline, with steel prices weakly oscillating. In the short - term, the market will run in an oscillating manner due to factors such as reduced steel mill profitability, lower iron - water production, and seasonal demand changes [1][5][6] 3. Summary According to Related Catalogs 3.1成材 (Finished Products) - **Supply**: The weekly output of rebar from major steel mills nationwide was 2.0854 million tons (-40,500 tons), and that of hot - rolled coils was 3.1816 million tons (-54,000 tons) [5] - **Demand**: The apparent demand for rebar and hot - rolled coils decreased. Last week, the apparent demand for rebar was 2.1852 million tons (-136,700 tons), and for hot - rolled coils, it was 3.143 million tons (-175,900 tons) [5] - **Inventory**: Rebar total inventory was 5.9254 million tons (-99,800 tons), with social inventory at 4.257 million tons (-51,100 tons) and steel mill inventory at 1.6684 million tons (-48,700 tons). Hot - rolled total inventory was 4.1045 million tons (+38,600 tons), social inventory was 3.3302 million tons (+40,900 tons), and steel mill inventory was 774,300 tons (-2,300 tons) [5] - **Basis**: The basis of the rebar main contract was 156 yuan/ton (+32 yuan/ton), and that of the hot - rolled coil main contract was 15 yuan/ton (-7 yuan/ton) [5] - **Summary**: The profitability rate of steel mills was 39.83%, a 5.19% week - on - week decrease. Iron - water production was 2.3422 million tons, a 21,400 - ton week - on - week decrease. The blast furnace operating rate was 83.13%, a 1.38% week - on - week increase; the blast furnace capacity utilization rate was 87.81%, a 0.8% week - on - week decrease. The electric furnace operating rate was 67.03%, a 1.8% week - on - week decrease; the electric furnace capacity utilization rate was 50.87%, a 2.12% week - on - week decrease [5] 3.2 Raw Materials - **Cost Support**: The prices of quasi - first - grade metallurgical coke and main coking coal from Lvliang increased, while the price of 61.5% PB powder at Qingdao Port decreased. The price of quasi - first - grade metallurgical coke was 1,570 yuan/ton (+10 yuan/ton), main coking coal from Lvliang was 1,645 yuan/ton (+70 yuan/ton), and 61.5% PB powder at Qingdao Port was 773 yuan/ton (-30 yuan/ton) [19] 3.3 Production - related Indicators - **Iron - water Production and Furnace Operating Rates**: As of November 7, 2025, the blast furnace operating rate increased by 1.38% week - on - week, the electric furnace operating rate decreased by 1.8% week - on - week, and iron - water production was 2.3422 million tons, a 21,400 - ton week - on - week decrease. The profitability rate of steel mills was 39.83%, a 5.19% week - on - week decrease. The Tangshan blast furnace operating rate was 91.87%, a 23.54% week - on - week increase [24][28][33] - **Steel Output**: Rebar output decreased by 40,500 tons week - on - week. In terms of process, long - process output decreased by 37,900 tons week - on - week, and short - process output decreased by 2,600 tons week - on - week. Hot - rolled coil output decreased by 54,000 tons week - on - week but remained at a high level [38] 3.4 Demand - related Indicators - **Apparent Demand**: Rebar consumption decreased by 136,700 tons week - on - week, and hot - rolled coil demand decreased by 175,900 tons week - on - week [44] - **Construction Steel and Hot - rolled Coil Volumes**: As of November 7, the weekly average volume of building materials was 96,400 tons, remaining at a low level. The weekly average volume of hot - rolled coils was 28,800 tons. The output of cold - rolled coils was 838,400 tons, a 21,300 - ton week - on - week decrease, and the output continued to decline [48][53] 3.5 Inventory - related Indicators - **General Steel Inventory**: As of November 7, the inventory of Tangshan billets was 545,500 tons, a 9,000 - ton week - on - week increase. The total inventory of major steel products was 10.7474 million tons, a 25,800 - ton week - on - week decrease [56] - **Rebar Inventory**: Rebar total inventory decreased by 99,800 tons week - on - week, social inventory decreased by 51,100 tons week - on - week, and steel mill inventory decreased by 48,700 tons week - on - week [60] - **Hot - rolled Coil Inventory**: Hot - rolled coil total inventory increased by 38,600 tons week - on - week, social inventory increased by 40,900 tons week - on - week, and steel mill inventory decreased by 2,300 tons week - on - week [65] 3.6 Export and Downstream Industry Data - **Steel Exports**: In October, steel exports were 9.78 million tons, a 690,000 - ton month - on - month decrease. From January to October, the cumulative steel export volume was 97.737 million tons, a 6.6% cumulative year - on - year increase [68] - **Automobile Industry**: In September, automobile production was 3.276 million vehicles, a 466,000 - vehicle month - on - month increase; automobile sales increased by 369,400 tons month - on - month. New - energy automobile production was 1.617 million vehicles, a 226,000 - vehicle month - on - month increase; new - energy automobile sales increased by 209,000 tons month - on - month [72] - **Real Estate Industry**: From January to September, national real estate development investment decreased by 13.9% year - on - year, with a 1% decrease in the decline rate. Specifically, from January to September, the new construction area of houses was 453.99 million square meters, a 18.9% decrease; the completed area of houses was 311.29 million square meters, a 15.3% year - on - year decrease with a narrowing decline. The sales area of newly - built commercial housing decreased by 5.5% year - on - year, with a 0.8% decline; the sales amount of newly - built commercial housing decreased by 7.9% year - on - year, with a 0.6% decline. The funds in place for development enterprises from January to September totaled 7.2 trillion yuan, a 8.4% year - on - year decrease [74][75]