深圳市铂科新材料股份有限公司 第四届董事会第十三次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳市铂科新材料股份有限公司（以下简称"公司"）第四届董事会第十三 次会议于 2025 年 10 月 21 日（星期二）在深圳市南山区沙河西路 3157 号南山智 谷产业园 B 座 13F 会议室以现场结合通讯的方式召开。会议通知已于 2025 年 10 月 18 日通过邮件的方式送达各位董事。本次会议应出席董事 7 人，实际出席董 事 7 人（其中：通讯方式出席董事 1 人）。 会议由董事长杜江华主持，高管列席。会议召开符合有关法律、法规、规 章和《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 （一）审议通过《关于公司 2025 年第三季度报告的议案》 证券代码：300811 证券简称：铂科新材 公告编号：2025-072 具体内容详见公司披露于巨潮资讯网（http://www.cninfo.com.cn）的《2025 年第三季度报告》（公告编号：2025-073）。 表决结果：7 票同 ...

深圳市铂科新材料股份有限公司 2025 年第三季度报告 证券代码：300811 证券简称：铂科新材 公告编号：2025-073 深圳市铂科新材料股份有限公司 2025 年第三季度报告 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。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 深圳市铂科新材料股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 增减 | | 上年同期增减 | | 营业收入（元） | 440,125,723.14 | 2.18% | ...

铂科新材公告，第三季度营收为4.4亿元，同比增长2.18%；净利润为1.02亿元，同比增长1.01%。前三 季度营收为13.01亿元，同比增长6.03%；净利润为2.94亿元，同比增长2.48%。 ...

Core Viewpoint - The metal new materials sector experienced a rise of 1.78% on October 21, with significant contributions from leading stocks like Placo New Materials [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3916.33, up 1.36% [1] - The Shenzhen Component Index closed at 13077.32, up 2.06% [1] Group 2: Individual Stock Performance - Tianhe Magnetic Materials (603072) closed at 49.36, down 1.48% with a trading volume of 39,300 lots [1] - Jinli Permanent Magnet (300748) closed at 39.91, down 1.02% with a trading volume of 603,900 lots [1] - Zhongke Magnetic Industry (301141) closed at 60.15, down 0.66% with a trading volume of 32,200 lots [1] - Zhenghai Magnetic Materials (300224) closed at 16.73, down 0.06% with a trading volume of 253,400 lots [1] - Ningbo Yunsheng (600366) closed at 14.21, up 0.28% with a trading volume of 282,500 lots [1] - Youyan Powder Materials (688456) closed at 45.55, up 0.49% with a trading volume of 11,600 lots [1] - Insite (301622) closed at 80.73, up 0.71% with a trading volume of 10,100 lots [1] - Yingyubiao (000795) closed at 10.75, up 0.75% with a trading volume of 159,100 lots [1] - Galaxy Magnetic Materials (300127) closed at 35.60, up 0.76% with a trading volume of 165,800 lots [1] - Zhongke Sanhuan (000970) closed at 13.95, up 0.94% with a trading volume of 210,500 lots [1] Group 3: Capital Flow - The metal new materials sector saw a net outflow of 5.57 million yuan from main funds, while retail investors contributed a net inflow of 20.7 million yuan [1]

Core Insights - The steel industry is experiencing a gradual recovery in demand, with a notable increase in apparent consumption and a decrease in inventory levels, indicating a potential stabilization in the market [1][3] - Despite the positive demand trends, profitability in the steel sector has declined, with significant drops in gross margins for key products, suggesting ongoing cost pressures [2] - The supply side is expected to continue its contraction, supported by government policies aimed at reducing production and promoting a balance between supply and demand [3] Demand and Supply Analysis - Apparent consumption of the five major steel products reached 8.7541 million tons, up by 1.2398 million tons week-on-week, with construction materials and sheet products also showing increases [1] - Total steel production was 8.5695 million tons, down by 0.0636 million tons, while total inventory decreased to 15.8226 million tons, down by 0.1846 million tons, maintaining a low level [1] - The operating rate of blast furnaces remained stable at 84.27%, while electric furnace operating rates increased slightly, indicating a mixed response in production capabilities [1] Profitability Trends - The average gross profit for rebar fell to 111.6 CNY per ton, down by 34.3 CNY per ton, and for hot-rolled coils, it dropped to 21.6 CNY per ton, down by 67.6 CNY per ton [2] - The profitability rate for 247 steel companies decreased to 55.41%, down by 0.87% week-on-week, reflecting the challenges faced by the industry [2] Future Outlook - The demand from the real estate sector is expected to weaken, but stable growth is anticipated in infrastructure and manufacturing, which may support overall steel demand [3] - The government has introduced policies to control production, aiming to phase out inefficient capacities and support advanced enterprises, which may lead to a quicker recovery in the steel industry's fundamentals [3] Investment Recommendations - Companies with leading technology and product structures, such as Baosteel (600019.SH) and Hualing Steel (000932.SZ), are recommended for their competitive advantages [5] - Low-valuation, high-dividend steel companies like CITIC Special Steel (000708.SZ) and Yongjin Shares (603995.SH) are also highlighted as attractive investment opportunities [5] - The report suggests a positive outlook for upstream resource companies, recommending firms like Hebei Steel Resources (000923.SZ) and Erdos (600295.SH) due to their long-term advantages [5]

Investment Rating - The report maintains an "Overweight" rating for the steel industry [5]. Core Viewpoints - Demand is expected to gradually bottom out, and supply-side market clearing has begun, indicating a potential recovery in the steel industry's fundamentals. If supply policies are implemented, the contraction of supply may accelerate, leading to quicker industry recovery [3][8]. - The report highlights a week-on-week increase in steel consumption and a decrease in inventory levels, suggesting a positive trend in demand recovery post-holiday [5][12]. - Profit margins for steel production have decreased, with average gross margins for rebar and hot-rolled coils declining significantly [5][42]. Summary by Sections Steel Prices and Inventory - Last week, the price of Shanghai rebar fell by 50 CNY/ton to 3210 CNY/ton, a decrease of 1.54%. Hot-rolled coil prices dropped by 120 CNY/ton to 3280 CNY/ton, a decline of 3.53% [8]. - Total inventory of major steel products decreased to 15.82 million tons, down 1.15% week-on-week [12]. Raw Materials - Iron ore spot prices decreased by 10 CNY/ton to 780 CNY/ton, while futures prices fell by 24.5 CNY/ton to 771 CNY/ton [51]. - Iron ore port inventory rose to 142.78 million tons, an increase of 1.81% [53]. Production and Profitability - The total steel production last week was 8.57 million tons, a decrease of 6.36 million tons week-on-week [36]. - The average gross margin for rebar was 111.6 CNY/ton, down 34.3 CNY/ton, while for hot-rolled coils, it was 21.6 CNY/ton, down 67.6 CNY/ton [42]. Market Outlook - The report anticipates that the demand for steel will stabilize, with a gradual recovery expected in the construction and manufacturing sectors, despite ongoing challenges in the real estate market [5][8]. - The steel industry is expected to benefit from policies aimed at reducing inefficient production capacity and promoting high-quality development [5].

Group 1 - The core viewpoint of the news is that Placo New Materials Co., Ltd. has seen a stock price increase of 5.3%, reaching 72.69 yuan per share, with a total market capitalization of 21.045 billion yuan as of the report date [1] - The company, established on September 17, 2009, specializes in the research, production, and sales of metal soft magnetic powders, soft magnetic powder cores, and inductive components, contributing to energy-efficient and environmentally friendly operations in power electronic devices [1] - The main revenue composition of the company includes 96.69% from metal soft magnetic powder products, 3.07% from metal soft magnetic powder, and 0.25% from other business income [1] Group 2 - From the perspective of fund holdings, Penghua Fund has one fund heavily invested in Placo New Materials, specifically the 1000 ETF Enhanced (560590), which held 3,800 shares, accounting for 1.1% of the fund's net value [2] - The 1000 ETF Enhanced fund was established on September 1, 2023, with a latest scale of 16.0187 million yuan, achieving a year-to-date return of 25.59% and a one-year return of 37.88% [2] - The fund manager, Kou Binquan, has a tenure of 2 years and 123 days, with the fund's total asset scale at 9.65 billion yuan, achieving a best return of 95.84% during his tenure [3]

Group 1 - The core point of the news is that Placo New Materials Co., Ltd. experienced a 5.02% drop in stock price, closing at 72.35 yuan per share, with a trading volume of 667 million yuan and a turnover rate of 3.73%, resulting in a total market capitalization of 20.946 billion yuan [1] - Placo New Materials, established on September 17, 2009, and listed on December 30, 2019, specializes in the research, production, and sales of metal soft magnetic powders, metal soft magnetic powder cores, and inductive components, providing high-performance soft magnetic materials and modular inductors for efficient and environmentally friendly operation of power electronic devices [1] - The company's main business revenue composition includes 96.69% from metal soft magnetic powder products, 3.07% from metal soft magnetic powders, and 0.25% from other business income [1] Group 2 - From the perspective of major fund holdings, one fund under GF Fund has a significant position in Placo New Materials, with the GF Growth Enterprise Board Two-Year Open Mixed Fund (162720) holding 135,000 shares, accounting for 2.99% of the fund's net value, ranking as the tenth largest holding [2] - The GF Growth Enterprise Board Two-Year Open Mixed Fund (162720) has a current scale of 210 million yuan and has achieved a return of 48.93% this year, ranking 1118 out of 8162 in its category, with a one-year return of 53.33%, ranking 1092 out of 8015 [2]

Core Viewpoint - The steel industry is expected to gradually bottom out in demand, with supply-side market clearing beginning to appear, leading to a potential recovery in the industry's fundamentals. If supply policies are implemented, the contraction of supply may accelerate, facilitating quicker industry recovery [1]. Demand and Supply Analysis - Steel consumption for the week of October 6-10, 2025, was 7.5143 million tons, a decrease of 1.5339 million tons week-on-week. Construction steel consumption was 2.2262 million tons, down 1.0846 million tons, while plate steel consumption was 5.2881 million tons, down 0.4493 million tons. Steel production was 8.6331 million tons, a decrease of 0.0376 million tons, and total inventory rose to 16.0072 million tons, an increase of 1.2786 million tons [2]. - The operating rate of blast furnaces at 247 steel mills was 84.27%, down 0.02 percentage points week-on-week, while electric furnace operating rates were 60.26%, down 1.28 percentage points. Despite a marginal decline in demand due to the National Day holiday, the industry remains in a traditional peak season, with expectations for gradual recovery in steel demand and inventory reduction [2]. Profitability Trends - The average gross profit per ton for rebar was 167.1 CNY, an increase of 24.3 CNY week-on-week, while hot-rolled coil gross profit was 112.1 CNY, up 29.3 CNY. The profitability rate for 247 steel companies was 56.28%, a decrease of 0.43% [3]. - The expectation is for iron ore production to accelerate while demand remains limited, leading to a gradual easing of iron ore prices and improvement in cost constraints for the steel industry, with a potential recovery in profitability levels [3]. Future Outlook - The negative impact of the real estate sector on steel demand is expected to diminish, with stable growth anticipated in demand from infrastructure and manufacturing sectors. Steel exports maintained a year-on-year increase from January to August [4]. - Over 40% of steel companies are currently experiencing losses, but market clearing is beginning to occur. Recent policies aim to reduce production and promote a balance between supply and demand, supporting the expectation of supply contraction and gradual recovery in the steel industry's fundamentals [4]. Recommended Companies - Key recommendations include Baosteel (600019) for its technological and product structure leadership, Hualing Steel (000932) for its product structure upgrades, and Fangda Special Steel (600507) for its low-cost advantages. Other recommendations include CITIC Special Steel (000708) for its competitive advantages and high dividend yield, as well as upstream resource companies like Hebei Steel Resources (000923) and Dazhong Mining (001203) due to their long-term growth potential [5].

Core Insights - The metal new materials sector experienced a significant increase of 6.99% on October 13, with Galaxy Magnet leading the gains [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Sector Performance - Galaxy Magnet (300127) saw a closing price of 38.74, with a remarkable increase of 20.01% and a trading volume of 389,900 shares [1] - New Laifu (301323) also rose by 20.00%, closing at 63.42 with a trading volume of 56,100 shares [1] - Other notable performers included Jinli Permanent Magnet (300748) with a 17.60% increase, closing at 46.90, and Zhongzhou Special Materials (300963) with a 13.85% increase, closing at 26.38 [1] Capital Flow - The metal new materials sector saw a net inflow of 384 million yuan from institutional investors, while retail investors experienced a net outflow of 118 million yuan [2] - The main capital inflow was concentrated in Galaxy Magnet, which had a net inflow of 237 million yuan, accounting for 16.69% of its trading volume [3] - Other companies like Zhenghai Magnetic Materials (300224) and Antai Technology (000969) also attracted significant institutional investment, with net inflows of 168 million yuan and 90 million yuan, respectively [3]