证券代码：002443 证券简称：金洲管道 公告编号：2025-035 浙江金洲管道科技股份有限公司 1、2024年11月27日，公司首次通过回购专用证券账户以集中竞价交易方式回 购公司股份1,900,200股，占公司目前总股本的0.37%，最高成交价为6.23元/股， 最低成交价为6.01元/股，成交均价为6.104元/股，成交总金额为11,598,394.00 元（不含交易费用等）。具体内容详见公司于2024年11月28日披露的《关于首次 回购公司股份的公告》（公告编号：2024-039）。 2、根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引 第9号——回购股份》等相关规定，公司在回购期间每个月的前三个交易日内披露 了截至上月末的回购进展情况,上述回购进展情况具体内容详见公司在《证券时报》 和巨潮资讯网（www.cninfo.com.cn）披露的相关公告。 3、公司此次回购时间区间为2024年11月27日至2025年8月21日，符合回购公 司股份方案中关于实施期限的要求。截至本公告披露日，公司累计通过回购专用 证券账户以集中竞价交易方式回购公司股份15,115,000股，占公司目前总股本 ...

浙江金洲管道科技股份有限公司 市值管理制度 第一章 总则 1、目的：为加强公司市值管理工作，规范市值管理行为，维护 公司、投资者及其他利益相关者的合法权益，依据《中华人民共和国 公司法》《中华人民共和国证券法》《上市公司监管指引第 10 号—— 市值管理》等相关法律法规，结合公司实际情况，制定本制度。 2、定义：本制度所称市值管理，是指公司以提高公司质量为基 础，为提升投资价值和股东回报能力而实施的战略管理行为。 （4）常态性原则：及时关注资本市场及公司股价动态，常态化 主动跟进开展市值管理工作。 （5）诚实守信原则：注重诚信、坚守底线、担当责任，营造健 康良好的市场生态。 第二章 市值管理的目的与基本原则 1、目的：通过合规的信息披露、资本运作、权益管理、投资者 关系管理等手段，引导公司市场价值与内在价值趋同，提升公司投资 价值，建立稳定和优质的投资者基础，实现公司整体利益最大化和股 东财富增长。 2、基本原则： （1）合规性原则：严格遵守相关法律法规、规范性文件、自律 监管规则及公司章程等内部规章制度。 （2）系统性原则：按照系统思维、整体推进的原则，协同公司 各业务体系以系统化方式持续开展市值管理工作。 ...

浙江金洲管道科技股份有限公司 2025 年半年度财务报告 浙江金洲管道科技股份有限公司 2025 年半年度财务报告 （未经审计） 2025 年 08 月 1 浙江金洲管道科技股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：浙江金洲管道科技股份有限公司 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 368,288,908.92 | 450,560,699.56 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 935,300,000.00 | 983,728,000.00 | | 衍生金融资产 | | | | 应收票据 | 27,564,812.89 | 10,085,615.89 | | 应收账款 | 847,341,707.49 | 812,114,156.91 | | 应收款项融资 | 57,482,036.68 | 63,332,176.2 ...

证券代码：002443 证券简称：金洲管道 公告编号：2025-034 浙江金洲管道科技股份有限公司 关于调整公司及下属合并范围内子公司 使用自有资金购买理财投资额度的公告 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 重要内容提示： 益，不存在损害公司及中小股东利益的情形。使用期限自董事会会议审议通过之 日起一年内有效。 根据公司经营情况和资金使用安排，在确保满足公司及子公司正常生产经营 活动的资金需求及风险可控的前提下，为了提高资金的使用效率，公司于2025 年8月21日召开的第七届董事会第十六次会议审议通过了《关于调整公司及下属 合并范围内子公司使用自有资金购买理财投资额度的议案》，同意公司及子公司 使用闲置自有资金进行委托理财的额度由不超过10亿元调整为不超过15亿元（含 等值美元），在上述额度内，资金可以循环滚动使用，期限自董事会会议审议通 过之日起一年内有效，期限内任一时点的交易金额不得超过上述额度。同时，授 权在额度范围内由公司董事会授权董事长行使相关决策权并签署有关法律文件， 具体投资活动由财务部负责组织实施，内审部负责监督检查。 现将有关情况汇报 ...

证券代码：002443 证券简称：金洲管道 公告编号：2025-036 浙江金洲管道科技股份有限公司 关于为下属公司向银行申请综合授信提供担保的进展公告 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、担保情况概述 1、浙江金洲管道科技股份有限公司（以下简称"公司"）于2025年04月23 日、2025年5月15日分别召开第七届董事会第十五次会议、2024年年度股东大会， 审议通过了《关于公司为下属公司提供融资担保及下属公司为公司提供融资担保 的议案》，同意公司为全资子公司浙江金洲管道工业有限公司（以下简称"管道 工业"）提供不超过人民币80,000万元的担保额度；为控股子公司张家港沙钢金 洲管道有限公司提供不超过人民币20,400万元的融资担保额度，同时另一股东沙 钢南亚（香港）贸易有限公司按持股比例向张家港沙钢金洲管道有限公司提供不 超过人民币19,600万元担保；下属全资子公司浙江金洲管道工业有限公司为公司 提供不超过人民币50,000万元的担保额度。以上担保额度包括现有担保、新增担 保及原有担保的展期或者续保。担保期限自2024年年度股东大会审议通 ...

法定代表人： 李兴春 主管会计工作的负责人：柴华良 会计机构负责人：柴华良 非经营性资金占用及其他关联资金往来情况汇总表 编制单位：浙江金洲管道科技股份有限公司 2025 年 6 月 30 日 单位：人民币万元 | | 资金占用方 | 占用方与上 | 上市公司核算 | 2025 年期 | 2025年1-6月 占用累计发 | 2025年1-6月 占用资金的 | 2025 年 1-6 月偿 | 2025 年 6 月期末 | 占用形 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 名称 | 市公司的关 联关系 | 的会计科目 | 初占用资金 余额 | 生金额 | 利息 | 还累计发 | 占用资金余额 | 成原因 | 占用性质 | | | | | | | （不含利息） | （如有） | 生金额 | | | | | 控股股东、实际控制 | 无 | | | | | | | | | | | 人及其附属企业 | 无 | | | | | | | | | | | 小 计 | - | | | | | | | | ...

证券代码：002443 证券简称：金洲管道 公告编号：2025-033 第七届监事会第十二次会议决议公告 本公司及监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、误导性陈述或重大遗漏。 一、监事会会议召开情况 二、监事会会议审议情况 经与会监事认真审议，充分讨论，以记名投票方式逐项表决，会议通过了以 下决议： 1、审议通过《关于<2025年半年度报告全文及摘要>的议案》； 浙江金洲管道科技股份有限公司 经认真审核，公司监事会成员一致认为：董事会编制和审核公司2025年半年 度报告及其摘要的程序符合法律、行政法规和中国证监会的规定，报告内容真实、 准确、完整地反映了上市公司的实际情况，不存在虚假记载、误导性陈述或者重 大遗漏。 浙江金洲管道科技股份有限公司（以下简称"公司"）第七届监事会第十二 次会议通知于2025年08月11日以电子邮件、微信形式发出。监事会于2025年08 月21日上午9:30在公司三楼会议室以现场结合通讯方式召开，监事会会议应到监 事5人，实到监事5人。 本次监事会会议由监事会主席钟苏先生主持，公司董事会秘书和证券事务代 表列席本次会议。会议的通知、召集、召开和表决程序符 ...

二、董事会会议审议情况 会议以投票表决方式，通过了如下决议： 1、审议通过《关于<2025年半年度报告全文及摘要>的议案》； 2025 年 半 年 度 报 告 全 文 及 其 摘 要 详 见 巨 潮 资 讯 网 (http://www.cninfo.com.cn)，2025年半年度报告摘要与本决议公告同日刊登在 《证券时报》和巨潮资讯网(http://www.cninfo.com.cn)。 证券代码：002443 证券简称：金洲管道 公告编号：2025-032 浙江金洲管道科技股份有限公司 第七届董事会第十六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 浙江金洲管道科技股份有限公司（以下简称"公司"）第七届董事会第十六 次会议于2025年08月21日上午10:00在公司行政楼三楼会议室以现场结合通讯方 式召开。会议通知于2025年08月11日以电话、电子邮件、微信等方式发出。会议 应到董事9人，实到9人。 本次会议由董事长李兴春先生主持，公司监事、高级管理人员列席了本次会 议。会议的通知、召集、召开和表决程序符合《中 ...

金洲管道公告，2025年上半年营业收入20.2亿元，同比下降13.84%。净利润5782.74万元，同比下降 42.36%。 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Item%201%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) [Important Notice](index=2&type=section&id=Important%20Notice) The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this semi-annual report, with no profit distribution planned for the period - The company's management guarantees the truthfulness, accuracy, and completeness of the report content and assumes corresponding legal responsibilities[3](index=3&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for this half-year period[4](index=4&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms used in the report, covering the company, its affiliates, major clients, regulatory bodies, and technical names of various pipeline products, providing a foundation for understanding the report content - Clarifies the abbreviations for the company, controlling shareholder (Jinzhou Smart Group), actual controller (Shouguang State-owned Assets Supervision and Administration Bureau), and major subsidiaries[9](index=9&type=chunk) - Defines key product types and technical terms such as Spiral Submerged Arc Welded Pipe (SAWH), Longitudinal Submerged Arc Welded Pipe (SAWL), and High-Frequency Welded Pipe (HFW)[9](index=9&type=chunk) [Company Profile and Key Financial Data](index=6&type=section&id=Item%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Basic Information](index=6&type=section&id=I.%20Company%20Profile) This section provides basic information for Zhejiang Jinzhou Pipeline Technology Co., Ltd., including its stock ticker "Jinzhou Pipeline," stock code "002443," listing exchange, and legal representative Company Basic Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Jinzhou Pipeline | | **Stock Code** | 002443 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Legal Representative** | Li Xingchun | [Overview of Key Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first half of 2025, the company experienced a significant decline in operating performance, with revenue decreasing by **13.84%** to **2.02 billion yuan** and net profit attributable to shareholders falling by **42.36%** to **57.83 million yuan**, indicating pressure on income and collections Key Financial Data and Year-on-Year Changes for H1 2025 (Units: Yuan) | Indicator | Current Period | Prior Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 2,019,555,901.74 | 2,343,891,708.31 | -13.84% | | Net Profit Attributable to Shareholders (Yuan) | 57,827,403.34 | 100,320,404.18 | -42.36% | | Net Cash Flow from Operating Activities (Yuan) | -46,899,774.60 | 91,520,024.62 | -151.25% | | Basic Earnings Per Share (Yuan/Share) | 0.1111 | 0.19 | -41.53% | | Weighted Average Return on Net Assets | 1.68% | 2.96% | -1.28% | [Analysis of Non-Recurring Gains and Losses](index=7&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) During the reporting period, the company recorded total non-recurring gains and losses of **2.94 million yuan**, primarily from investment income on wealth management products and government subsidies, partially offset by fixed asset disposal losses Details of Non-Recurring Gains and Losses (Units: Yuan) | Item | Amount | | :--- | :--- | | Gains or losses from entrusted investments or asset management | 2,956,097.97 | | Government subsidies recognized in current profit or loss | 1,023,622.27 | | Gains or losses from disposal of non-current assets | -212,847.47 | | **Total** | **2,943,428.37** | [Management Discussion and Analysis (MD&A)](index=9&type=section&id=Item%203%20Management%20Discussion%20and%20Analysis) [Overview of Main Business](index=9&type=section&id=I.%20Main%20Businesses%20Engaged%20by%20the%20Company%20During%20the%20Reporting%20Period) The company is a high-tech enterprise specializing in the R&D, manufacturing, and sales of welded steel pipe products, widely used in water supply, fire protection, gas, and oil and gas transportation - The company's main business is the R&D, manufacturing, and sales of welded steel pipe products, establishing it as a well-known supplier of pipes and fittings in the industry[24](index=24&type=chunk) - Products are widely applied in water supply, drainage, fire protection, gas, oil and natural gas transportation, construction, and chemical industries[24](index=24&type=chunk) [Analysis of Core Competencies](index=9&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company's core competencies include strong brand influence, robust R&D capabilities, a diversified product portfolio, extensive customer resources, and ample cash reserves, reinforcing its industry leadership and risk resilience - Brand Influence: As the first A-share listed leading enterprise in China's welded steel pipe industry, it possesses an industry-recognized excellent brand[25](index=25&type=chunk) - Technical R&D Capability: Possesses a national-level enterprise technology center, forming a complete innovation chain[26](index=26&type=chunk) - Diversified Product Advantage: A comprehensive product system covers various fields such as oil and gas transportation, water conservancy projects, and offshore platforms[27](index=27&type=chunk)[28](index=28&type=chunk) - Customer Resources: A key supplier to leading domestic energy enterprises such as PetroChina, Sinopec, and CNOOC[29](index=29&type=chunk) - Cash Reserves: Ample funds ensure the company's ability to withstand risks and seize strategic opportunities[31](index=31&type=chunk) [Analysis of Main Business Operations](index=11&type=section&id=III.%20Analysis%20of%20Main%20Business) During the reporting period, the company's main business revenue decreased by **13.84%**, primarily due to a **19.09%** decline in civil steel pipe products, while industrial steel pipe revenue remained stable, and operating cash flow significantly dropped by **151.25%** Year-on-Year Changes in Key Financial Data (Units: Yuan) | Item | Current Period (Yuan) | Prior Period (Yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 2,019,555,901.74 | 2,343,891,708.31 | -13.84% | - | | **Operating Cost** | 1,804,971,338.84 | 2,067,521,270.34 | -12.70% | - | | **Financial Expenses** | -5,664,635.53 | -12,725,072.47 | -55.48% | Decrease in deposit income | | **Net Cash Flow from Operating Activities** | -46,899,774.60 | 91,520,024.62 | -151.25% | Simultaneous decrease in revenue and collections | | **R&D Investment** | 65,677,735.14 | 90,917,074.14 | -27.76% | - | Operating Revenue Composition (by Product) (Units: Yuan) | Product Category | Current Period Revenue (Yuan) | Proportion of Total Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Civil Steel Pipes | 1,307,797,096.64 | 64.76% | -19.09% | | Industrial Steel Pipes | 632,164,901.56 | 31.30% | -0.40% | [Analysis of Assets and Liabilities](index=12&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) As of the end of the reporting period, total assets remained stable at **4.496 billion yuan**, with inventory increasing from **19.45%** to **22.15%** of total assets, and **935 million yuan** in fair value measured financial assets - Inventory as a percentage of total assets increased from **19.45%** to **22.15%**, and short-term borrowings increased from **2.09%** to **3.22%**[36](index=36&type=chunk) - At the end of the period, financial assets measured at fair value through profit or loss (primarily wealth management products) amounted to **935 million yuan**[37](index=37&type=chunk) [Analysis of Major Holding and Participating Companies](index=14&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) During the reporting period, wholly-owned subsidiary Zhejiang Jinzhou Pipeline Industry Co., Ltd. reported a net loss of **10.13 million yuan**, while controlling subsidiary Zhangjiagang Shagang Jinzhou Pipeline Co., Ltd. achieved a net profit of **21.46 million yuan**, providing significant support to the company's overall profit Operating Performance of Major Subsidiaries (Units: Yuan) | Company Name | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | | Zhejiang Jinzhou Pipeline Industry Co., Ltd. | 302,198,329.80 | -9,121,052.28 | -10,131,420.63 | | Zhangjiagang Shagang Jinzhou Pipeline Co., Ltd. | 377,250,221.61 | 26,305,819.10 | 21,463,447.97 | [Risk Factors and Countermeasures](index=14&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks from macroeconomic changes affecting demand, intense industry competition, raw material price volatility, potential changes in high-tech enterprise tax policies, and production safety hazards - Macroeconomic Risk: Product demand is closely linked to the macroeconomic prosperity of industries such as energy and construction[46](index=46&type=chunk) - Industry Competition Risk: The domestic pipeline industry has low concentration, leading to intensified low-price competition[47](index=47&type=chunk) - Raw Material Price Volatility Risk: Hot-rolled coil and zinc ingot costs account for approximately **90%** of production costs[48](index=48&type=chunk) - Policy Risk: Changes in high-tech enterprise tax preferential policies would impact operating results[49](index=49&type=chunk) - Safety Risk: Complex operating environments in production, storage, and transportation may lead to safety accidents[50](index=50&type=chunk) [Corporate Governance, Environment, and Social Responsibility (ESG)](index=16&type=section&id=Item%204%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) [Corporate Governance and Internal Control](index=16&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, the company adjusted some senior executives, including the appointment of a new board secretary, maintaining a sound governance structure, comprehensive risk management, and internal control systems, with no profit distribution planned Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | | :--- | :--- | :--- | :--- | | Zhao Wei | Supervisor | Elected | 2025年01月06日 | | Chai Hualiang | Board Secretary | Resigned | 2025年03月06日 | | Xue Jun | Board Secretary | Appointed | 2025年03月10日 | - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the half-year period[54](index=54&type=chunk) - The company has established a comprehensive risk management system covering procurement, sales, quality, environment, and safety aspects[59](index=59&type=chunk) [Environmental and Social Responsibility](index=16&type=section&id=IV.%20Environmental%20Information%20Disclosure) The company and its major subsidiaries are included in the list of enterprises required to disclose environmental information, demonstrating their commitment to environmental responsibility, green manufacturing, and sustainable development - The company and two major subsidiaries, totaling **3** enterprises, are included in the list of enterprises required to disclose environmental information by law[56](index=56&type=chunk) - The company emphasizes environmental protection, increases environmental investment, ensures the operation of environmental protection equipment, and innovates green technologies[66](index=66&type=chunk) - Adhering to the principle of "sharing and win-win," the company has established close cooperative relationships with nearly a thousand well-known upstream and downstream enterprises[67](index=67&type=chunk) [Significant Matters](index=20&type=section&id=Item%205%20Significant%20Matters) [Fulfillment of Commitments](index=20&type=section&id=I.%20Commitments%20Fulfilled%20by%20the%20Company%27s%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20the%20Reporting%20Period%2C%20and%20Commitments%20Overdue%20and%20Not%20Yet%20Fulfilled%20as%20of%20the%20End%20of%20the%20Reporting%20Period) During the reporting period, the controlling shareholder, Shanghai Jinzhou Smart Enterprise Development Group Co., Ltd., strictly fulfilled its acquisition commitments, including avoiding horizontal competition, regulating related-party transactions, and ensuring the listed company's independence - Controlling shareholder Shanghai Jinzhou Smart Enterprise Development Group Co., Ltd. strictly fulfilled its commitments regarding horizontal competition, related-party transactions, and fund occupation[70](index=70&type=chunk) - The controlling shareholder committed to and guaranteed the listed company's independence in personnel, assets, finance, business, and organization[70](index=70&type=chunk)[71](index=71&type=chunk) [Significant Related-Party Transactions](index=23&type=section&id=XI.%20Significant%20Related-Party%20Transactions) The company engaged in ordinary course related-party transactions with Shagang Group, purchasing materials worth **141 million yuan** and selling products worth **4.08 million yuan**, both within the annual approved limits Related-Party Transactions in Ordinary Course of Business (Units: 10,000 Yuan) | Related Party | Transaction Type | Transaction Content | Transaction Amount (10,000 Yuan) | Approved Limit (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | | Shagang Group | Purchase of Goods | Material Procurement | 14,056 | 60,000 | | Shagang Group | Sale of Goods | Product Sales | 408 | 20,000 | [Significant Contracts and Their Performance](index=24&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company provided guarantees for subsidiaries with an outstanding balance of **228 million yuan**, representing **6.63%** of net assets, and had **935 million yuan** in outstanding entrusted wealth management products, primarily in trusts, banks, and brokerages, with no overdue amounts - The company's actual guarantee balance for subsidiaries at the end of the reporting period was **227.5 million yuan**, accounting for **6.63%** of the company's net assets[90](index=90&type=chunk) Entrusted Wealth Management (Units: 10,000 Yuan) | Specific Type | Amount of Entrusted Wealth Management Occurred | Unmatured Balance | | :--- | :--- | :--- | | Trust Wealth Management Products | 20,000 | 20,000 | | Bank Wealth Management Products | 23,500 | 23,500 | | Brokerage Wealth Management Products | 9,500 | 9,500 | | Other Categories | 40,530 | 40,530 | | **Total** | **93,530** | **93,530** | [Share Changes and Shareholder Structure](index=27&type=section&id=Item%206%20Share%20Changes%20and%20Shareholder%20Information) [Analysis of Share Changes](index=27&type=section&id=I.%20Share%20Change%20Information) During the reporting period, the company's total share capital remained unchanged at **520,535,520 shares**, with **8,038,800 shares** (1.54% of total capital) repurchased for **49.94 million yuan** for future employee incentives - The company's total share capital remained unchanged at **520,535,520 shares**[99](index=99&type=chunk) - As of the end of the reporting period, the company had cumulatively repurchased **8,038,800 shares** (accounting for **1.54%** of total share capital), with a total transaction amount of **49,941,057.84 yuan**[100](index=100&type=chunk) [Analysis of Shareholder Structure](index=28&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) As of the end of the reporting period, the company had **33,890** shareholders, with controlling shareholder Shanghai Jinzhou Smart Enterprise Development Group Co., Ltd. holding **21.24%**, of which **49.75%** (55 million shares) were pledged - The total number of common shareholders at the end of the reporting period was **33,890** households[102](index=102&type=chunk) Shareholding of Top Three Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | Number of Pledged Shares | | :--- | :--- | :--- | :--- | :--- | | Shanghai Jinzhou Smart Enterprise Development Group Co., Ltd. | State-owned Legal Person | 21.24% | 110,559,279 | 55,000,000 | | Xinhua Asset Management (Hong Kong) Co., Ltd. – Mountain Top Limited | Overseas Legal Person | 1.61% | 8,395,524 | 0 | | Gao Zhiping | Domestic Natural Person | 0.86% | 4,500,000 | 0 | [Bond-Related Information](index=32&type=section&id=Item%207%20Bond-Related%20Information) [Explanation of Bond Information](index=32&type=section&id=Item%207%20Bond-Related%20Information) During the reporting period, the company had no bond-related matters to disclose - The company had no bond-related matters requiring disclosure during this reporting period[109](index=109&type=chunk) [Financial Report](index=33&type=section&id=Item%208%20Financial%20Report) [Financial Statements](index=33&type=section&id=II.%20Financial%20Statements) This section presents the company's unaudited H1 2025 consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, reflecting financial position and operating results - The company's H1 2025 financial report is unaudited[111](index=111&type=chunk) - Provides consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in equity[112](index=112&type=chunk)[115](index=115&type=chunk)[119](index=119&type=chunk)[126](index=126&type=chunk)[131](index=131&type=chunk) [Significant Accounting Policies and Estimates](index=52&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Accounting%20Estimates) This section details the company's key accounting policies and estimates, including revenue recognition under new standards, inventory valuation using the weighted-average method, and financial instrument impairment based on expected credit losses - Revenue Recognition Policy: Revenue is recognized at the transaction price allocated to the performance obligation when the customer obtains control of the related goods or services[236](index=236&type=chunk) - Inventory Valuation Method: Inventory costs are determined using the weighted-average method upon issuance, and measured at the lower of cost or net realizable value at period-end[212](index=212&type=chunk) - Financial Instrument Impairment: Impairment accounting is performed for various receivables and other financial assets based on expected credit losses, and bad debt provisions are recognized[173](index=173&type=chunk) [Notes to Consolidated Financial Statement Items](index=78&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on major consolidated financial statement items, highlighting that trading financial assets are entirely wealth management products, receivables and inventory are key current assets, and civil steel pipes are the primary revenue source - The balance of trading financial assets at period-end was **935 million yuan**, entirely consisting of wealth management investment products[258](index=258&type=chunk) - The book value of accounts receivable at period-end was **847 million yuan**, with bad debt provisions of **82.73 million yuan** already made[266](index=266&type=chunk) - The book value of inventory at period-end was **996 million yuan**, with raw materials and merchandise inventory accounting for the vast majority[306](index=306&type=chunk) - Among main business revenues, civil steel pipe products contributed **1.308 billion yuan**, and industrial steel pipe products contributed **632 million yuan**[389](index=389&type=chunk) [Other Submitted Data](index=134&type=section&id=Item%209%20Other%20Submitted%20Data) [Investor Relations Activities](index=134&type=section&id=II.%20Registration%20Form%20for%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) During the reporting period, the company actively engaged in investor relations activities, including on-site research and online communication sessions in March and May 2025, discussing operations, performance, and future outlook with investors Investor Relations Activity Records | Reception Date | Reception Method | Type of Reception Object | Main Content | | :--- | :--- | :--- | :--- | | 2025年03月05日 | On-site Research | Institutions, Individuals | Company's daily operations, performance, and future outlook | | 2025年05月13日 | Online Platform Communication | Other | 2024 Annual Report Performance |