2025 年钢铁行业下游需求整体偏弱，供给保持相对高位，煤焦等原燃料价格下降幅度高于钢材价格下 降幅度,公司产品毛利率同比上升；公司持续推进转型升级，优化产品结构，做好降本增效工作，2025 年实现扭亏为盈，经营业绩同比上升，预计公司2025年归属于上市公司股东的净利润为 2,500 万元。 格隆汇1月28日丨三钢闽光(002110.SZ)公布，预计2025年归属于上市公司股东的净利润2,500万元，同比 扭亏为盈，扣除非经常性损益后的净利润2,330万元，同比扭亏为盈。 ...

Core Viewpoint - The company, Sangang Min Guang, forecasts a net profit of 25 million yuan for the year 2025, marking a turnaround from losses to profitability, with a net profit of 23.3 million yuan after deducting non-recurring gains and losses [1] Group 1: Company Performance - The company expects to achieve a net profit of 25 million yuan attributable to shareholders in 2025, indicating a significant improvement in financial performance [1] - The net profit after excluding non-recurring items is projected to be 23.3 million yuan, reflecting a focus on core operational efficiency [1] Group 2: Industry Context - The overall demand in the steel industry is expected to remain weak in 2025, while supply levels are anticipated to stay relatively high [1] - The decline in prices of raw materials such as coal and coke is expected to outpace the decrease in steel prices, leading to an increase in the company's product gross margin year-on-year [1] Group 3: Strategic Initiatives - The company is actively pursuing transformation and upgrading initiatives, optimizing its product structure, and focusing on cost reduction and efficiency enhancement [1] - The successful implementation of these strategies is expected to contribute to the company's return to profitability in 2025 [1]

2025年钢铁行业下游需求整体偏弱，供给保持相对高位，煤焦等原燃料价格下降幅度高于钢材价格下降 幅度,公司产品毛利率同比上升;公司持续推进转型升级，优化产品结构，做好降本增效工作，2025年实 现扭亏为盈，经营业绩同比上升，预计公司2025年归属于上市公司股东的净利润为2500万元。 三钢闽光（002110）(002110.SZ)披露2025年度业绩预告，公司预计归属于上市公司股东的净利润2500 万元，扭亏为盈;扣除非经常性损益后的净利润2330万元。 ...

Core Viewpoint - The company Sansteel Minmetals is expected to achieve a net profit of 25 million yuan in 2025, marking a turnaround from losses, with a significant increase in net profit excluding non-recurring gains and losses projected at 23.3 million yuan, representing a year-on-year growth of 103.19% [1] Group 1: Financial Performance - The expected net profit for 2025 is 25 million yuan, indicating a return to profitability compared to previous losses [1] - The projected net profit excluding non-recurring items is 23.3 million yuan, which shows a year-on-year increase of 103.19% [1] Group 2: Industry Context - The overall demand in the steel industry is expected to remain weak in 2025, while supply is anticipated to stay relatively high [1] - The decline in prices of raw materials such as coal and coke is expected to exceed the decline in steel prices, contributing to an increase in the company's product gross margin year-on-year [1] Group 3: Company Strategy - The company is actively pursuing transformation and upgrading, optimizing its product structure, and focusing on cost reduction and efficiency improvement [1] - The successful implementation of these strategies is expected to lead to a turnaround in profitability and an increase in operational performance in 2025 [1]

三钢闽光公告，预计2025年度净利润为2500万元，同比扭亏为盈。2025年钢铁行业下游需求整体偏弱， 供给保持相对高位，煤焦等原燃料价格下降幅度高于钢材价格下降幅度,公司产品毛利率同比上升；公 司持续推进转型升级，优化产品结构，做好降本增效工作，2025年实现扭亏为盈，经营业绩同比上升。 ...

福建三钢闽光股份有限公司 证券代码：002110 证券简称：三钢闽光 公告编号：2026-005 三、业绩变动原因说明 2025 年钢铁行业下游需求整体偏弱，供给保持相对高位，煤焦 等原燃料价格下降幅度高于钢材价格下降幅度,公司产品毛利率同比 上升；公司持续推进转型升级，优化产品结构，做好降本增效工作， 2025 年实现扭亏为盈，经营业绩同比上升，预计公司 2025 年归属于 上市公司股东的净利润为 2,500 万元。 四、风险提示 2025 年度业绩预告 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。 一、本期业绩预计情况 （一）业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 （二）业绩预告情况：预计净利润为正值，扭亏为盈 | 项 | 目 | | 本报告期 | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的 净利润 | | 盈利：2,500 | 万元 | 亏损：127,663.50 | 万元 | | | | 比上年同期增长：101.96% | | | | ...

Market Overview - The three major A-share indices opened lower on January 27, with the Shanghai Composite Index closing at 4139.9 points, up 0.18% [2] - The ChiNext Index rose by 0.71% to 3342.6 points, while the Sci-Tech 50 Index increased by 1.51% to 1555.98 points [2] Trading Activity - A total of 1928 stocks rose, while 3450 stocks fell, with 91 stocks remaining flat [3] - The total trading volume was 28.949 billion yuan, a decrease of 3.533 billion yuan from the previous trading day [3] Sector Performance - Semiconductor stocks saw significant gains, with over 20 stocks hitting the daily limit or rising more than 10% [5] - Gold stocks also performed well, with several stocks reaching the daily limit or increasing by over 10% [5] - Coal and basic metal sectors experienced notable declines, with major coal stocks dropping over 4% [6] Market Sentiment and Predictions - Financial analysts suggest that the A-share market may continue to experience fluctuations in the short term due to increased overseas uncertainties and pressure at previous high levels [7] - The current market is viewed as a short-term adjustment risk, with expectations for continued upward movement in the medium term [7] - Long-term perspectives indicate that the current market trend is still in its mid-stage, with potential for a "slow bull" market to continue [8][9] Investment Recommendations - Analysts recommend focusing on sectors such as technology, particularly AI and robotics, as well as industries benefiting from price increases like chemicals and non-ferrous metals [8][9] - Short-term investment opportunities are suggested in power equipment and photovoltaic sectors, which are supported by market demand and policies [10]

Market Performance - The steel sector saw an increase of 1.53% on January 23, with Jiugang Hongxing leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] Individual Stock Performance - Jiugang Hongxing (600307) closed at 2.07, with a rise of 10.11% and a trading volume of 2.38 million shares, amounting to a transaction value of 473 million yuan [1] - Wujin Stainless Steel (603878) also saw a significant increase of 10.05%, closing at 8.98 with a trading volume of 525,500 shares [1] - Other notable performers included Sangang Min Guang (002110) with a 4.95% increase, Baogang Co. (600010) up 3.61%, and Anyang Steel (600569) up 3.24% [1] Capital Flow Analysis - The steel sector experienced a net inflow of 397 million yuan from main funds, while retail funds saw a net outflow of 169 million yuan [2] - Main funds showed significant net inflows in stocks like Baogang Co. (600010) with 194 million yuan and Jiugang Hongxing (600307) with 145 million yuan [3] - Conversely, retail investors had notable outflows from Jiugang Hongxing and Baogang Co., indicating a shift in investor sentiment [3]

Core Viewpoint - The steel industry is entering a new phase of "reduction and quality improvement," with increasing differentiation and structural changes expected [1] Group 1: Steel Industry Overview - The steel sector experienced a rise on the 23rd, with companies like Jiugang Hongxing, Wujin Stainless Steel, and Dazhong Mining hitting the daily limit, while Fushun Special Steel and Sangang Min Guang increased by over 5% [1] - According to CICC, the new capacity replacement policy for 2025 is expected to tighten, and the new industry standards will likely promote graded management within the sector [1] Group 2: Environmental and Regulatory Factors - The implementation of ultra-low emission modifications and green indicators is anticipated to become a new tool for differentiated production control [1] - By 2026, the steel industry is expected to see a reduction in internal competition, with supply clearing expected to accelerate, benefiting ESG-compliant companies first [1] Group 3: Special Steel Sector Insights - As the "14th Five-Year Plan" begins, the domestic manufacturing sector is projected to maintain high prosperity through 2026, supported by national encouragement for technological innovation and increased investment in advanced manufacturing [1] - The acceleration of domestic substitution for key materials due to trade frictions is expected to benefit the industry by concentrating resources in high value-added areas, enhancing the overall competitiveness of special steel companies [1] - Profitability in the special steel sector is anticipated to improve, with the valuation center expected to rise [1]

Core Viewpoint - The A-share steel sector experienced a strong short-term rally, with significant upward movement in stock prices and a notable release of profit potential, driven by key stocks like JiuGang Hongxing and Wujin Stainless Steel reaching their daily limits [1] Group 1: Market Performance - The steel sector saw widespread gains, with multiple core stocks such as Dazhong Mining, Fushun Special Steel, and Shagang Co. participating in the upward trend, indicating a collective rise in the sector [1] - The rally was supported by a favorable funding environment, as the black commodity futures market showed overall gains, enhancing investor sentiment towards the steel sector [1] Group 2: Policy and Regulatory Support - The Ministry of Finance introduced policies to address low-price competition in government procurement, effective from February 1, 2026, which is expected to stabilize steel prices and support profitability for steel companies [2] - New capacity control policies are being proposed to phase out inefficient production, favoring companies with low emissions and high-end products, which will enhance industry concentration and strengthen leading enterprises [2] Group 3: Cost and Profitability Factors - The supply of iron ore is steadily increasing, and domestic resource development is intensifying, leading to a stabilization in iron ore prices, which will help steel companies reduce production costs and restore profit margins [3] - The stable supply and low prices in the coking coal sector also contribute to a favorable cost environment for steel producers [3] Group 4: Demand Drivers - The demand for steel in the electric vehicle sector is expected to grow significantly, with a projected increase of over 4% in automotive steel demand by the second half of 2025, benefiting the steel industry [4] - The shipbuilding industry is witnessing a recovery, with an anticipated growth rate of over 6% in steel demand for shipbuilding by the second half of 2025, driven by high-value steel requirements for advanced vessels [4] - Infrastructure investment is projected to maintain a growth rate of over 5% year-on-year, with increasing demand for high-strength and corrosion-resistant steel materials, solidifying the steel sector's role as a core support for demand [4]