根据《公司法》及《公司章程》的有关规定，经上海钢联电子商务股份有限 公司（以下简称"公司"）第六届董事会第十三次会议审议通过，决定于 2025 年 9 月 12 日（星期五）召开公司 2025 年第二次临时股东大会，现将会议有关事 项再次提示通知如下： 一、召开会议基本情况 1、股东大会届次：2025 年第二次临时股东大会。 2、会议召集人：公司董事会。 证券代码：300226 证券简称：上海钢联 公告编号：2025-066 上海钢联电子商务股份有限公司 关于召开2025年第二次临时股东大会的提示性公告 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、误导性陈述或重大遗漏。 3、会议召开的合法性及合规性：经公司第六届董事会第十三次会议审议通 过《关于召开 2025 年第二次临时股东大会的议案》，决定召开 2025 年第二次临 时股东大会，召集程序符合有关法律、行政法规、部门规章、规范性文件和公司 章程的规定。 4、会议召开日期、时间：2025 年 9 月 12 日（星期五）下午 14:45 通过深圳证券交易所交易系统进行网络投票的时间为2025年9月12日上午 9:15-9:25，9 ...

Core Viewpoint - Shanghai Steel Union's stock has experienced fluctuations, with a recent decline of 2.14% and a year-to-date increase of 14.12%, indicating volatility in its market performance [1][2]. Company Overview - Shanghai Steel Union, established on April 30, 2000, and listed on June 8, 2011, specializes in B2B e-commerce services related to steel, energy, mining, and non-ferrous metals [2]. - The company's revenue composition includes 97.29% from supply chain services, 1.56% from consignment services, and smaller percentages from data subscription, business promotion, conference training, and consulting services [2]. Financial Performance - For the first half of 2025, Shanghai Steel Union reported a revenue of 34.39 billion yuan, a year-on-year decrease of 21.65%, while net profit attributable to shareholders was 118 million yuan, reflecting a growth of 41.07% [2]. - The company has distributed a total of 135 million yuan in dividends since its A-share listing, with 47.20 million yuan distributed over the past three years [3]. Shareholder Structure - As of June 30, 2025, the number of shareholders increased by 5.62% to 35,900, with an average of 8,523 circulating shares per person, a decrease of 5.32% [2]. - Notable changes in the top ten circulating shareholders include an increase in holdings by Southern CSI 1000 ETF and a decrease by Hong Kong Central Clearing Limited [3].

Core Insights - The company reported a revenue of 34.391 billion yuan for the first half of 2025, representing a year-over-year increase of 21.65%, with a net profit attributable to shareholders of 1.18 billion yuan, up 41.07% year-over-year [1][2] Financial Performance - Revenue from industrial data services and steel trading services was 366 million yuan and 33.994 billion yuan, respectively, showing a decline of 3.91% and an increase of 21.77% year-over-year [2] - The company's gross profit margin was 1.33%, down 2.20 percentage points year-over-year, while the net profit margin increased by 88.01 percentage points to 0.62% [1] - Operating cash flow was 330 million yuan, down 47.31% year-over-year, primarily due to a decrease in accounts receivable and funds tied up in the supply chain business [2] Strategic Initiatives - The company is enhancing quality and standardization in data services, having completed the "Industrial Data Security Management Specification" to ensure data quality [3] - AI technology is being integrated into industrial data services, with the development of a large language model tailored for bulk commodities and the successful application of AI products in various scenarios [3] - The company has built a vast industrial database covering over 100 industry chains across eight major sectors, continuously optimizing data asset management [3] Market Position and Recognition - The company maintains a strong market presence with over 19,000 registered users on its e-commerce platform and partnerships with over 350 steel mills [4] - The company received multiple accolades, including recognition as a "Chain Master" enterprise in Shanghai and being listed among the top 10 enterprises in the steel industry internet sector [4] Global Expansion - The company is expanding its international presence, with overseas service revenue increasing by 9.7% year-over-year [5] - The company has signed a memorandum of understanding with Argus to jointly publish iron ore price indices and has achieved recognition for its price indices in international trade [5] Future Projections - Revenue projections for 2025-2027 are 71.631 billion yuan, 80.948 billion yuan, and 93.087 billion yuan, with corresponding net profits of 2.44 billion yuan, 2.76 billion yuan, and 3.19 billion yuan [6] - The company is expected to maintain a price-to-earnings ratio of 37.05, 32.73, and 28.37 for the years 2025-2027 [6]

Core Viewpoint - The price of battery-grade lithium carbonate has decreased by 250 yuan compared to the previous day, with an average price reported at 77,000 yuan per ton [1] Price Movement - The current average price of battery-grade lithium carbonate is 77,000 yuan per ton, reflecting a decline from the previous day's price [1]

Group 1 - The core viewpoint of the article highlights an increase in the total inventory of steel materials across 38 cities in China, with a week-on-week rise of 34.99 million tons, reaching a total of 889.16 million tons, representing a growth of 4.10% [1] Group 2 - The total inventory of construction steel reached 490.84 million tons, with a week-on-week increase of 26.65 million tons (+5.74%) [1] - The total inventory of hot-rolled steel was 209.96 million tons, increasing by 5.62 million tons (+2.75%) compared to the previous week [1] - The inventory of medium and heavy plates totaled 67.21 million tons, with a week-on-week increase of 1.06 million tons (+1.60%) [1] - The inventory of cold-rolled and coated steel reached 121.15 million tons, with an increase of 1.66 million tons (+1.39%) from the previous week [1]

Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 34.391 billion yuan and a net profit attributable to shareholders of 118 million yuan, representing a year-on-year increase of 41.07% [1] - The basic earnings per share reached 0.3717 yuan, up 42.47% year-on-year, indicating strong profitability despite a challenging macroeconomic environment [1] - As of June 30, 2025, total assets amounted to 22.901 billion yuan, and net assets attributable to shareholders were 2.107 billion yuan, reflecting growth of 5.06% and 6.03% respectively compared to the end of the previous year [1] Group 2: Data Services - The company provides multi-dimensional data services across eight major industries, including black and non-ferrous metals, energy, and new materials, focusing on price as a core element [2] - The company has made significant advancements in data quality control and has implemented a standardized management system to ensure data objectivity and authority [2] - The introduction of AI technology, particularly the "Xiao Gang Digital Intelligent Assistant," has improved decision-making efficiency for clients [2] Group 3: International Cooperation and Market Expansion - The data services segment generated revenue of 366 million yuan, with overseas service revenue increasing by 9.7% year-on-year, indicating successful global expansion [3] - A memorandum of understanding was signed with Argus to jointly publish a mixed index for iron ore, enhancing the influence of "Chinese prices" in the market [3] Group 4: Steel Trading Services - The steel trading platform, Steel Silver E-commerce, reported a net profit of 152 million yuan, a year-on-year increase of 47.13%, demonstrating strong operational health [4] - The platform's transaction volume reached 25.5214 million tons, showcasing effective resource integration and service enhancement [4] - The platform received multiple industry accolades, reinforcing its leading position in the market [4] Group 5: Strategic Outlook - The company is focused on deepening its digitalization and standardization efforts in the bulk commodity industry, positioning itself as a key player in the supply chain [5] - Analysts suggest that despite short-term revenue fluctuations, the company's long-term value in data services and international pricing remains strong [5] - The company is expected to benefit from ongoing trends in data marketization and digital transformation in manufacturing [6]

Core Viewpoint - Shanghai Steel Union E-commerce Co., Ltd. held a conference call with 14 institutions, discussing its 2025 semi-annual report and business operations, highlighting its dual focus on industrial data services and steel trading services [1] Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of 34.391 billion yuan and a net profit attributable to shareholders of 118 million yuan, with a net cash flow from operating activities of 330 million yuan [1] - The "Little Steel" digital assistant generated revenue of 366.442 million yuan, with overseas service revenue of 23.1811 million yuan, reflecting a year-on-year growth of 9.7% [1] - The subsidiary Steel Silver E-commerce optimized supply chain services, with a settlement volume of 25.5214 million tons, a year-on-year decrease of 20.69%, while net profit attributable to shareholders increased by 47.13% to 152.4015 million yuan [1] Group 2: Business Strategy and Operations - The company maintains its overseas expansion strategy, establishing a subsidiary in Vietnam and focusing on data collection services in Southeast Asia [2] - The company is enhancing its data asset management by incorporating coal and coke database data into its internal platform [2] - The application of AI technology through the "Little Steel" assistant aims to improve efficiency and user experience, with plans to explore integration with the EBC platform [2] Group 3: Market Trends and Challenges - The company is adapting to industry trends, focusing on large customer data needs as the market consolidates [2] - The decline in settlement volume is attributed to falling steel prices, but profit growth is supported by cost control and increased government subsidies [2] - The company is exploring new subscription models for industrial data services, aiming to expand the variety and quality of offerings [2]

Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of CNY 34.391 billion, with a net profit attributable to shareholders of CNY 118 million, and a net cash flow from operating activities of CNY 330 million [2][3] - Revenue from industrial data services was CNY 366.442 million, a decrease of 3.91% year-on-year, while overseas service revenue increased by 9.7% to CNY 23.181 million [3] - The steel trading service subsidiary, Steel Silver E-commerce, reported a settlement volume of 25.5214 million tons, down 20.69% year-on-year, but net profit attributable to shareholders rose by 47.13% to CNY 152.4015 million [3] Group 2: Business Strategy and Market Position - The company is focusing on deepening its overseas expansion strategy, with Singapore as the headquarters and plans to enhance its index business in overseas markets [4] - The company aims to strengthen its data service offerings in Southeast Asia, leveraging the "Belt and Road" initiative to support local user needs [4] - The shift from "land grabbing" to "deep cultivation" of large customer data needs is expected to enhance profitability and service quality [6][7] Group 3: Technology and Innovation - The "Little Steel" digital assistant has been launched across multiple channels, improving operational efficiency and market competitiveness [3][8] - The integration of AI technology with the EBC platform is being explored to enhance user engagement and service quality [8] - The company is focusing on optimizing AI training data quality to improve model performance [8] Group 4: Challenges and Future Outlook - The decline in platform settlement volume is attributed to falling steel prices, which have reduced trading willingness among steel traders [9] - The company anticipates that the trend of "anti-involution" will accelerate industry consolidation, benefiting larger enterprises with stronger purchasing power for data services [6][7] - Data subscription services are expected to evolve slowly, requiring a focus on expanding data variety and quality to meet the demands of large enterprises [9][10]

Core Insights - Shanghai Steel Union (300226.SZ) reported a total operating revenue of 34.391 billion yuan for the first half of 2025, ranking first among disclosed peers [1] - The company's net profit attributable to shareholders was 118 million yuan, ranking ninth among peers, with a year-on-year increase of 34.4868 million yuan, representing a 41.07% growth compared to the same period last year [1] - Operating cash flow was 330 million yuan, ranking sixth among peers [1] Financial Metrics - The latest debt-to-asset ratio is 81.92%, a decrease of 0.87 percentage points from the previous quarter and a decrease of 0.01 percentage points from the same period last year [3] - The latest gross profit margin is 1.33% [3] - The latest return on equity (ROE) is 5.62%, ranking sixth among peers, with an increase of 1.34 percentage points year-on-year [3] - The diluted earnings per share (EPS) is 0.37 yuan, ranking ninth among peers, with a year-on-year increase of 0.11 yuan, representing a 42.47% growth [3] - The total asset turnover ratio is 1.54 times, ranking first among peers [3] - The inventory turnover ratio is 18.63 times, ranking eighth among peers, with a year-on-year increase of 6.41 times, representing a 52.47% growth [3] Shareholder Structure - The number of shareholders is 35,900, with the top ten shareholders holding 115 million shares, accounting for 35.97% of the total share capital [3] - The largest shareholder is Yadong Xingye Venture Capital Co., Ltd., holding 25.37% [3]

Core Insights - Shanghai Steel Union reported a 21.65% year-on-year decline in revenue for the first half of 2025, totaling 34.391 billion yuan, while net profit attributable to shareholders increased by 41.07% to 118 million yuan [1] - The company is enhancing its AI technology and data applications, successfully implementing its generative AI product "Little Steel Digital Assistant" across various scenarios [1] - Shanghai Steel Union is expanding its international product offerings and enhancing its global brand influence, including a memorandum of understanding with Argus to develop a pricing index for iron ore [1] Financial Performance - Revenue for the data service segment decreased by 3.91% to 366.44 million yuan, while overseas service revenue grew by 9.7% to 23.18 million yuan [1] - The steel trading service segment saw a settlement volume of 25.5214 million tons, with net profit for Steel Silver E-commerce reaching 152.40 million yuan, a 47.13% increase [2] - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares, totaling 15.9361 million yuan [2] Business Strategy - Shanghai Steel Union is focused on enhancing customer service and risk management capabilities in the steel trading sector, integrating resources across the industry chain [2] - The company is continuously developing new databases in various fields, adding 68 new data sources and over 80,000 data indicators in the first half of 2025 [1] - The management team is dedicated to advancing the data service segment, while the subsidiary Steel Silver E-commerce operates with an independent management structure [2]