Core Viewpoint - The company, Changbao Co., Ltd. (002478.SZ), emphasizes its main product, oil and gas casing pipes, which have maintained good brand recognition and customer acceptance in overseas markets over the years [1] Market Presence - The North American market is currently not a business area for the company’s oil and gas casing pipes due to the impact of trade policies [1] - The company has a relatively small business presence in the Latin American market [1] - The primary markets for the company’s oil and gas casing pipes are currently in the Middle East, Southeast Asia, Africa, and Central Asia [1] Strategic Adjustments - The company plans to adjust its offshore market structure and product offerings in response to changes in the oil and gas industry [1] - There will be an increased focus on expanding into new markets and obtaining certifications for new products to enhance competitiveness in overseas markets [1]

Core Viewpoint - The company is focusing on the development of new products, specifically aerospace hydraulic control pipes and nuclear power pipes, as part of its strategic direction [1] Group 1: Product Development - The company has completed the special material project and is currently engaged in process debugging, customer certification, sample testing, and market expansion [1] - There are plans to develop the market for the new products [1] Group 2: HRSG Products - The company has a sufficient backlog of orders for its HRSG products [1] - There will be an increase in the production capacity and structural upgrades for HRSG products to flexibly respond to changes in domestic and international market demand, thereby enhancing product value [1]

Investment Rating - The report maintains a "Buy" rating for several key companies in the steel industry, including Hualing Steel, Baosteel, Nanjing Steel, and others, indicating a positive outlook for their performance in the coming years [2][4]. Core Insights - The expectation for iron ore replenishment has increased, while short-term steel exports are under pressure due to new regulations on low-value-added steel exports [8][30]. - Steel prices have seen a slight increase, with the price of 20mm HRB400 rebar reaching 3,320 CNY/ton, up 40 CNY/ton from the previous week [14][15]. - The overall steel production has slightly increased, with a total output of 8.15 million tons for major steel products, reflecting a week-on-week increase [8][30]. - The report highlights a decrease in steel profits, with average margins for rebar, hot-rolled, and cold-rolled steel showing a decline compared to the previous week [8][30]. Summary by Sections Domestic Steel Market - Domestic steel prices have risen, with specific increases noted in rebar and high-line steel prices [14][15]. - The report indicates stable prices for hot-rolled and cold-rolled steel, while medium plates have remained unchanged [14][15]. International Steel Market - U.S. and European steel prices have remained stable, with no significant changes reported in the last week [25][27]. Raw Materials and Shipping Market - Domestic iron ore prices are stable to slightly rising, while scrap steel prices have decreased [30][35]. - The report notes that the shipping market has seen a decline, impacting overall raw material costs [30]. Production Situation of Domestic Steel Mills - The production of major steel products has increased, with specific gains in rebar and plate production [8][30]. - Inventory levels have decreased, indicating a tightening supply in the market [8][30]. Profit Situation - The steel industry reported a profit of 1,115 billion CNY from January to November, showing a significant year-on-year increase [12][30]. - Monthly profits have shown a decreasing trend, indicating potential challenges ahead [12][30]. Key Steel Companies Valuation and Stock Performance - The report provides detailed earnings forecasts and valuations for key companies, all rated as "Buy" [2][4].

Market Overview - The special steel sector increased by 0.24% on December 30, with Xianglou New Materials leading the gains [1] - The Shanghai Composite Index closed at 3965.12, showing no change, while the Shenzhen Component Index rose by 0.49% to 13604.07 [1] Stock Performance - Xianglou New Materials (301160) closed at 68.81, up 4.10% with a trading volume of 60,800 shares and a transaction value of 414 million yuan [1] - Jiuli Special Materials (002318) rose by 2.38% to 27.96, with a trading volume of 150,000 shares [1] - Other notable performances include: - CITIC Special Steel (000708) up 0.56% to 16.16 - Shagang Group (002075) remained unchanged at 5.69 - Fangda Special Steel (600507) down 0.17% to 5.95 [1] Capital Flow - The special steel sector experienced a net outflow of 99.69 million yuan from institutional investors, while retail investors saw a net inflow of 112 million yuan [2] - The detailed capital flow for specific stocks includes: - Xianglou New Materials had a net inflow of 4.96 million yuan from institutional investors [3] - Jiuli Special Materials saw a significant net outflow of 10.06 million yuan from institutional investors [3] - Retail investors contributed positively to several stocks, including Jiuli Special Materials with a net inflow of 10.04 million yuan [3]

人民财讯12月30日电，常宝股份（002478）12月30日在互动平台表示，公司目前没有机器人相关业务。 公司专注于各种特种专用管材的研发及制造，目前产品主要应用于油气开采、电站锅炉、石化、工程机 械、汽车、船舶及各种特种精密钢管相关领域和细分市场。公司将根据市场需求，不断开发适合公司战 略和产品定位的新市场和新产品。 ...

证券之星消息，12月29日特钢板块较上一交易日下跌0.71%，常宝股份领跌。当日上证指数报收于 3965.28，上涨0.04%。深证成指报收于13537.1，下跌0.49%。特钢板块个股涨跌见下表： 从资金流向上来看，当日特钢板块主力资金净流出3.03亿元，游资资金净流入1148.09万元，散户资金净 流入2.92亿元。特钢板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600507 方大特钢 | | > 334.01万 | 2.70% | -341.13万 | -2.76% | 7.13万 | 0.06% | | 301160 翔楼新材 | | -6767.00 | 0.00% | -1733.22万 | -6.24% | 1733.90万 | 6.25% | | 600117 西宁特钢 | | -259.01万 | -4.13% | -623.79万 | -9.95% | - 882 ...

Group 1: Overseas Market Development - Arrow Home has been focusing on internationalization, increasing strategic investment in overseas markets, and establishing partnerships with local distributors to expand its sales network, resulting in significant revenue growth outside North America, although overall overseas revenue has declined due to changes in the international economic environment [2] - Yiduoli has been enhancing its overseas market presence, with product registrations completed in over 30 countries and regions, and plans to establish a subsidiary in Brazil to strengthen sales coverage in Latin America [3] - Companies like Boying Welding and Jereh have also reported significant progress in their international strategies, with Boying Welding investing in a production base in Vietnam and Jereh expanding its overseas business to over 70 countries [4] Group 2: New Year Development Plans - Wave Optoelectronics plans to focus on semiconductor and laser businesses, aiming for steady growth and expansion into new application areas while maintaining core competitiveness [5] - Arrow Home intends to enhance retail channel management and promote new products in collaboration with Hongmeng Smart Selection, aiming for broader coverage and efficiency in 2026 [5] - Changbao Co. expects to maintain a favorable market for boiler pipes and will focus on high-end product promotion and structural upgrades [7] Group 3: AI Development - Shenzhen Huaqiang emphasizes that AI is a core driver for growth in electronic components, with increasing demand in AI servers and data centers [8] - Zhongdian Port reported a significant increase in AI-related revenue, reaching 9.309 billion yuan in the first three quarters of 2025, reflecting a 78.3% year-on-year growth [9] - Companies like Hanwei Technology are actively integrating AI into their product offerings, developing multi-dimensional sensor systems for intelligent robotics [8][9]

Group 1 - The article presents the top 20 stocks in the S&P China A-Share Dividend Opportunity Index (CSPSADRP) based on their daily and year-to-date performance as of December 25, 2025 [1][5] - The top performer, Xin'ao Co., Ltd. (603888.SH), recorded a daily increase of 3.78% and a year-to-date increase of 19.40%, with a dividend yield of 3.91% [1][5] - De'ye Co., Ltd. (605117.SH) showed a significant year-to-date increase of 55.09%, with a daily increase of 3.58% and a dividend yield of 3.41% [1][5] Group 2 - The list includes companies with varying year-to-date performances, such as Lurui Co., Ltd. (002083.SZ) with a remarkable increase of 145.17% despite a daily increase of only 2.02% [1][5] - Other notable mentions include Tianshan Aluminum Industry (002532.SZ) with a year-to-date increase of 97.57% and Jiangsu Jinzu (600901.SH) with a dividend yield of 6.57% [1][5] - The data indicates a mix of performance across different sectors, highlighting investment opportunities in dividend-paying stocks [1][5]

证券日报网12月25日讯 ，常宝股份在接受投资者提问时表示，近年来，公司分红比例始终保持在30% 以上，较好平衡了公司当前和长期的发展关系。目前，公司财务情况和现金流健康稳健，公司将遵循业 务发展与股东回报相平衡的核心原则，在综合考量年度经营业绩、盈利规模及现金流状况的基础上，统 筹兼顾设备升级改造、数字化与智能化转型、核心项目建设等核心资本开支需求，平衡股东合理回报与 公司长期战略发展。公司将持续优化利润分配机制，努力为全体投资者创造稳定、可持续的投资回报， 持续构建公司与投资者共赢的良好生态。 （编辑 袁冠琳） ...

Core Viewpoint - Changbao Co., Ltd. has officially completed the construction and commenced production operations of the Changbao Special Materials project as of November 21, 2025, and is currently optimizing processes and expanding market reach [2] Group 1: Project Development - The Changbao Special Materials project is in the phase of process debugging, customer certification, sample testing, and market expansion [2] - The company aims to leverage its accumulated market resources, customer base, and strong brand reputation to accelerate the market development of its existing extended products [2] Group 2: Product Focus - Key products for market development include stainless steel boiler tubes, HRSG products, high-end heat exchanger tubes, and nickel-based alloy oil pipes [2] - The company plans to systematically advance the research and promotion of domestic substitute products in fields such as marine umbilical cable pipes and EP pipes [2] Group 3: Strategic Goals - The company intends to concentrate its resources and core team efforts to achieve its established construction goals as soon as possible [2]