上海中洲特种合金材料股份有限公司 2025 年半年度报告全文 上海中洲特种合金材料股份有限公司 2025 年半年度报告 2025 年 08 月 1 上海中洲特种合金材料股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人冯明明、主管会计工作负责人潘千及会计机构负责人(会计主 管人员)潘千声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告涉及的未来计划等前瞻性陈述，不构成公司对投资者的实质承诺。 投资者及相关人士均应对此保持足够的风险认识，并且应当理解计划、预测 与承诺之间的差异。 公司在经营管理中可能面临的风险已在本报告中第三节"管理层讨论与 分析"之"十、公司面临的风险和应对措施"部分予以描述。敬请广大投资 者关注，并注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | | 1 | | --- | --- | | œ | | | . | œ | | 第一节 ...

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of Zhongzhou Special Materials, indicating a decline in stock price and significant financing activities on August 26 [1] - On August 26, Zhongzhou Special Materials experienced a stock price drop of 1.71%, with a trading volume of 373 million yuan. The net financing purchase amounted to 11.93 million yuan, with a total financing balance of 253 million yuan, representing 2.67% of the circulating market value [1] - The company has a high financing balance, exceeding the 70th percentile level over the past year, indicating a relatively elevated financing position [1] Group 2 - Zhongzhou Special Materials, established on July 8, 2002, and listed on April 9, 2021, specializes in the research, production, and sales of high-temperature corrosion-resistant alloy materials and products [2] - The company's revenue composition includes 54.35% from deformable high-temperature corrosion-resistant alloys, 28.80% from cast high-temperature corrosion-resistant alloys, and 14.03% from special alloy welding materials [2] - As of August 20, the number of shareholders was 46,800, a decrease of 0.33%, while the average circulating shares per person increased by 0.33% to 6,183 shares [2] Group 3 - Since its A-share listing, Zhongzhou Special Materials has distributed a total of 90.76 million yuan in dividends, with 54.76 million yuan distributed over the past three years [3] Group 4 - For the first quarter of 2025, Zhongzhou Special Materials reported an operating income of 210 million yuan, a year-on-year decrease of 14.48%, and a net profit attributable to shareholders of 12.92 million yuan, down 15.49% year-on-year [2]

Core Viewpoint - The article highlights the performance of the China-Russia trade concept, which saw a 0.7% increase on August 25, with a net inflow of 2.2939 million yuan in main funds, indicating active trading in related stocks [1] Group 1: Market Performance - The China-Russia trade concept experienced a 0.7% rise on August 25 [1] - A total of 40 stocks within this concept increased in value, while 33 stocks decreased [1] Group 2: Main Fund Inflows - The leading stocks by net inflow of main funds included: - Xiaogoods City with 328 million yuan and a 9.28% net fund ratio [1] - Lanshi Heavy Industry with 170 million yuan and a 16.3% net fund ratio [1] - Zhejiang Dongri with 54.4646 million yuan and an 11.06% net fund ratio [1] - Zhongzhou Special Materials with 53.3951 million yuan and an 8.58% net fund ratio [1] - Tongyu Communication with 52.9229 million yuan and a 4.64% net fund ratio [1]

Investment Rating - The report maintains an "Overweight" rating for the steel industry [5]. Core Viewpoints - Demand is expected to gradually bottom out, and the supply side is beginning to show signs of market-driven clearance, indicating a potential recovery in the steel industry's fundamentals [3][4]. - The report anticipates that if supply policies are implemented, the speed of supply contraction will accelerate, leading to a quicker upward trend in the industry [3]. Summary by Sections Steel Market Overview - The apparent consumption of five major steel products reached 8.5299 million tons, an increase of 2.64% week-on-week [24]. - The total steel inventory was 14.4104 million tons, with a week-on-week increase of 2.25% [11]. - The operating rate of blast furnaces in 247 steel mills was 83.36%, a decrease of 0.23 percentage points week-on-week [28]. Production and Profitability - The total steel production was 8.7806 million tons, an increase of 0.73% week-on-week [30]. - The average gross profit for rebar was 243.7 CNY/ton, down 13.4% week-on-week, while hot-rolled coil gross profit was 201.7 CNY/ton, down 13.5% week-on-week [35]. Demand and Supply Dynamics - The report notes a decline in real estate demand, but infrastructure and manufacturing sectors are expected to maintain stable growth [3]. - Steel exports from China maintained a year-on-year growth of 9.2% in the first half of the year [3]. Raw Material Prices - Iron ore prices decreased, with the spot price dropping to 765 CNY/ton, a decline of 1.54% [42]. - Coking coal prices remained stable at 1430 CNY/ton, while coking prices increased to 1660 CNY/ton, a rise of 3.11% [42]. Recommendations - The report recommends focusing on leading companies with technological and product structure advantages, such as Baosteel and Hesteel, as well as companies with low valuations and high dividends like CITIC Special Steel [3].

格隆汇8月21日丨中洲特材(300963.SZ)在互动平台表示，公司与谷歌暂无合作。 ...

Group 1 - The latest stock price of Zhongzhou Special Materials is 20.63 yuan, with an increase of 0.01 yuan compared to the previous trading day [1] - The stock reached a maximum of 20.89 yuan and a minimum of 20.28 yuan during the day, with a fluctuation of 2.96% [1] - The trading volume for the day was 155,922 hands, with a total transaction amount of 320 million yuan [1] Group 2 - Zhongzhou Special Materials is primarily engaged in the research, production, and sales of special alloy materials, which are widely used in aerospace and energy chemical industries [1] - The company is registered in Shanghai and is listed on the Growth Enterprise Market [1] Group 3 - The net outflow of main funds for Zhongzhou Special Materials on that day was 10.2468 million yuan, with a cumulative net outflow of 19.4462 million yuan over the past five trading days [1] - The current price-to-earnings ratio is 183.06 times, and the price-to-book ratio is 8.91 times [1]

Core Viewpoint - Zhongzhou Special Materials reported a stock price of 20.62 yuan as of August 19, 2025, reflecting a decrease of 0.50 yuan or 2.37% from the previous trading day [1] Company Overview - Zhongzhou Special Materials is a high-tech enterprise focused on the research, production, and sales of special materials, including high-temperature alloys, corrosion-resistant alloys, and precision alloys [1] - The company's products are widely used in aerospace, energy and chemical industries, and medical devices [1] - Zhongzhou operates within the non-ferrous metals industry and is involved in supercritical power generation and Sino-Russian trade [1] Recent Developments - On the evening of August 19, the company announced that the 18th meeting of the fourth board of directors approved the nomination of five candidates for non-independent directors and three candidates for independent directors [1] - The meeting also approved the proposal to hold the fourth temporary shareholders' meeting in 2025 [1] Market Activity - On August 19, the net outflow of main funds for Zhongzhou Special Materials was 52.0255 million yuan, accounting for 0.87% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow reached 19.4761 million yuan, representing 0.33% of the circulating market value [1]

证券日报网讯 8月19日晚间，中洲特材发布公告称，公司于2025年8月18日召开了第四届董事会第十八 次会议，审议通过了《关于董事会换届暨提名第五届董事会非独立董事候选人的议案》《关于董事会换 届暨提名第五届董事会独立董事候选人的议案》，拟选举冯明明先生、蒋俊先生、冯晓航先生、毕文龙 先生、李猛先生为公司第五届董事会非独立董事候选人，拟选举韩木林先生、宁振波先生、周昌生先生 为公司第五届董事会独立董事候选人。上述董事任期自2025年第四次临时股东会审议通过之日起三年。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 8月19日晚间，中洲特材发布公告称，公司第四届董事会第十八次会议审议通过了《关于 召开2025年第四次临时股东会的议案》等多项议案。 ...

Company Summary - Zhongzhou Special Materials (SZ 300963) announced the convening of its 18th meeting of the fourth board of directors on August 18, 2025, to discuss the proposal for the nomination of non-independent director candidates for the fifth board [1] - For the year 2024, the company's revenue composition is entirely from the high-temperature alloy materials and products industry, accounting for 100.0% [1] - As of the report date, Zhongzhou Special Materials has a market capitalization of 9.5 billion yuan [1] Industry Summary - The average number of high-temperature days in China has increased by 25% over the past decade, indicating a growing impact of high temperatures on the economy [1]