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]

Company Overview - Shanghai Steel Union is an internet enterprise focused on data services for the steel and related industries, covering areas such as information, trading, and supply chain services [1] Stock Performance - As of August 27, 2025, Shanghai Steel Union's stock price closed at 28.38 yuan, down 4.57% from the previous trading day, with a trading volume of 892 million yuan [1] Financial Performance - In the first half of 2025, Shanghai Steel Union reported a net profit attributable to the parent company of 118 million yuan, representing a year-on-year increase of 41.07% [1] Capital Flow - On August 27, 2025, the main capital outflow was 103 million yuan, with a cumulative net outflow of 71.62 million yuan over the past five days [1]

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上海钢联电子商务股份有限公司 董事会议事规则 （2025 年修订本） 第一章 总则 第一条 为了进一步规范上海钢联电子商务股份有限公司（以下简称"公 司"）董事会的议事方式和决策程序，促使董事和董事会有效地履行其职责， 提高董事会规范运作和科学决策水平，根据《中华人民共和国公司法》（以下 简称"《公司法》"）《中华人民共和国证券法》《上市公司治理准则》《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引 第 2 号——创业板上市公司规范运作》等有关法律、行政法规、部门规章和规 范性文件以及《上海钢联电子商务股份有限公司章程》（以下简称"《公司章 程》"）的有关规定，制订本规则。 第二条 董事会下设董事会办公室，处理董事会日常事务。 董事会秘书兼任董事会办公室负责人，负责公司股东会和董事会会议的筹 备及文件保管、公司股东资料管理、办理信息披露事务、投资者关系工作等事 宜，对董事会负责。 第二章 会议的召集和提案 第三条 董事会会议分为定期会议和临时会议。 董事会每年应当至少在上下两个半年度各召开一次定期会议。 当公司出现《公司法》和《公司章程》规定的应当召开临时董事会的情形 时，董事会应当 ...

上海钢联电子商务股份有限公司 信息披露管理制度 （2025 年修订本） 第一章 总则 第一条 为规范上海钢联电子商务股份有限公司（以下简称"公司"）信息 披露行为，加强公司信息披露事务管理，保护投资者合法权益，根据《中华人民 共和国公司法》《中华人民共和国证券法》《上市公司信息披露管理办法》《关 于规范上市公司信息披露及相关各方行为的通知》《深圳证券交易所创业板股票 上市规则》（以下简称"《上市规则》"）《深圳证券交易所上市公司自律监管 指引第 2 号——创业板上市公司规范运作》《深圳证券交易所上市公司自律监管 指引第 5 号——信息披露事务管理》等相关法律、行政法规、部门规章、规范性 文件及《上海钢联电子商务股份有限公司章程》（以下简称"《公司章程》"） 的规定，制定本制度。 第二条 本制度提及"信息"系指公司已发生的或将要发生的，所有可能对 公司股票及其衍生品种交易价格产生较大影响而投资者尚未得知的信息，以及证 券监管部门要求披露的其他信息。 第三条 本制度中提及"披露"系指在规定的时间、在深圳证券交易所（以 下简称"交易所"）的网站和符合中国证券监督管理委员会（以下简称"中国证 监会"）规定条件的媒体上 ...