股票近期走势 经济观察网翔楼新材（301160）近期股价异动与定增事项无直接关联，主要受市场资金流向、公司基本 面及行业环境影响。 近期公司完成2023年限制性股票激励计划第二个归属期股份上市，39名激励对象获授143.55万股，于 2026年2月10日流通。此外，公司向特定对象发行股票申请已于2025年12月获深交所受理，目前处于审 核阶段。 行业政策与环境 特殊钢材料行业受益于制造业复苏及高端材料需求增长。近期市场关注点包括部分上市公司询价转让活 跃，但翔楼新材未涉及相关事项。外部环境方面，有报道称美国可能调整钢铝关税政策，但对公司直接 影响有限。 以上内容基于公开资料整理，不构成投资建议。 2026年2月10日至13日，翔楼新材股价连续上涨，2月13日收盘价为68.40元，单日涨幅4.08%，成交额 2.27亿元。资金流向显示，2月10日、12日主力资金分别净流入1957.37万元和1775.31万元，散户资金则 净流出。同期融资余额上升，2月10日融资净买入1308.42万元。 业绩经营情况 公司2025年第三季度报告显示，前三季度营业收入11.05亿元，同比增长2.82%；归母净利润1.51亿元， ...

Investment Rating - The report maintains an "Overweight" rating for the steel industry [2]. Core Views - Demand is expected to gradually bottom out, and supply-side adjustments are beginning to show, indicating a potential recovery in the steel industry's fundamentals. If supply policies are implemented, the contraction in supply may accelerate, leading to a quicker industry upturn [4]. - The report highlights that approximately 60% of steel companies are currently operating at a loss, but market-driven supply adjustments are starting to occur, suggesting a gradual recovery in the steel sector [5]. Summary by Sections Steel Market Overview - Last week, the apparent consumption of five major steel products was 7.607 million tons, a decrease of 5.12% week-on-week but an increase of 32.12% year-on-year. Rebar consumption was 1.476 million tons, down 16.3% week-on-week, but up 143.03% year-on-year [16]. - The total steel inventory reached 13.3775 million tons, an increase of 4.63% week-on-week, maintaining a low level [5]. - The average gross profit for rebar was 159.5 CNY/ton, down 37.4 CNY/ton from the previous week, while hot-rolled coil profit was 19.5 CNY/ton, down 27.4 CNY/ton [5][33]. Raw Materials - Iron ore spot prices decreased, with the price for PB powder (61.5% iron content) at 766 CNY/ton, down 26 CNY/ton week-on-week. The main iron ore futures price fell by 31 CNY/ton to 760.5 CNY/ton, a decline of 3.92% [42]. - Iron ore port inventory rose to 171.41 million tons, an increase of 0.7% week-on-week, with the average available days of imported iron ore for domestic steel companies increasing to 31 days, up 14.81% [45][48]. Production and Capacity Utilization - The operating rate of blast furnaces among 247 steel mills increased to 79.53%, up 0.53 percentage points week-on-week, while the capacity utilization rate was 85.69%, up 0.22 percentage points [24]. - The total steel production last week was 8.199 million tons, a decrease of 3.27 million tons week-on-week [31]. Investment Recommendations - The report recommends focusing on companies with leading technology and product structures, such as Baosteel, Hualing Steel, and Shougang, as well as low-cost and flexible steel companies like Fangda Special Steel and New Steel [5].

Investment Rating - The report maintains a "Buy" rating for several key companies in the steel industry, including Hualing Steel, Baosteel, Nanjing Steel, and others [2][3]. Core Insights - The iron ore market is experiencing downward price trends due to high overseas shipments and increasing port inventories, which have surpassed 170 million tons. This has led to a structural easing of inventory issues as steel mills complete their restocking [6][28]. - Short-term expectations for real estate policy relaxation may improve raw material cost pressures, potentially leading to a recovery in steel mill profits. Long-term, the industry is expected to shift from scale expansion to quality and efficiency improvements, benefiting leading enterprises [6][28]. Summary by Sections Domestic Steel Market - As of February 6, 2026, steel prices have decreased, with HRB400 rebar priced at 3,210 CNY/ton, down 30 CNY/ton from the previous week. Other products like high-line and hot-rolled steel also saw price declines [12][13]. International Steel Market - In the U.S., hot-rolled steel prices increased to 1,066 USD/ton, while in Europe, prices fluctuated with hot-rolled steel at 782 USD/ton, reflecting a mixed market response [23][25]. Raw Materials and Shipping Market - Domestic iron ore prices are stable with slight declines, while scrap steel prices have risen to 2,090 CNY/ton. The coal market is influenced by production quota adjustments in Indonesia, affecting prices [28][29]. Production and Inventory - As of February 6, 2026, total steel production decreased to 8.2 million tons, with an increase in total inventory to 939.28 million tons, indicating a rise in stock levels despite production cuts [6][12]. Profitability Analysis - The report indicates a decline in steel margins, with average gross profits for rebar, hot-rolled, and cold-rolled steel decreasing by 27 CNY/ton, 19 CNY/ton, and 21 CNY/ton respectively [6][28]. Key Company Valuations and Stock Performance - The report provides earnings per share (EPS) forecasts for various companies, with Hualing Steel projected to have an EPS of 0.50 CNY in 2025, and a price-to-earnings (PE) ratio of 12x, indicating a favorable investment outlook [2][3].

Investment Rating - The report maintains a "Buy" rating for the steel industry, recommending several key companies [2][3]. Core Insights - The iron ore market is experiencing downward price trends due to high overseas shipments and increasing port inventories, which have surpassed 170 million tons. This has led to a structural easing of inventory issues as steel mills complete their restocking [6][28]. - Short-term expectations for real estate policy relaxation may improve raw material cost pressures, potentially leading to a recovery in steel mill profits. Long-term, the industry is expected to shift from scale expansion to quality and efficiency improvements, benefiting leading enterprises [6][28]. Summary by Sections 1. Domestic Steel Market - As of February 6, 2026, the price of 20mm HRB400 rebar in Shanghai is 3,210 CNY/ton, down 30 CNY/ton from the previous week. Other steel products also saw price declines, with hot-rolled and cold-rolled prices decreasing by 20 CNY/ton [12][13]. 2. International Steel Market - In the U.S., the hot-rolled steel price is 1,066 USD/ton, up 16 USD/ton from last week. In Europe, hot-rolled prices are at 782 USD/ton, increasing by 12 USD/ton [23][25]. 3. Raw Materials and Shipping Market - Domestic iron ore prices are stable with slight declines, while scrap steel prices have increased to 2,090 CNY/ton, up 20 CNY/ton from last week. The coal market is stable, with main coking coal prices in North China dropping to 1,320 CNY/ton [28][29]. 4. Production and Inventory - As of February 6, 2026, total steel production is 8.2 million tons, a decrease of 32,700 tons week-on-week. Total inventory has increased by 496,100 tons to 9.3928 million tons [6][12]. 5. Profitability Analysis - The report indicates a decrease in steel profits, with average gross margins for rebar, hot-rolled, and cold-rolled steel declining by 27 CNY/ton, 19 CNY/ton, and 21 CNY/ton respectively compared to the previous week [6][28]. 6. Key Company Valuations and Stock Performance - Recommended companies include Hualing Steel, Baosteel, and Nanjing Steel, all rated as "Buy" with projected earnings per share (EPS) growth over the next few years [2][6].

证券代码：301160 证券简称：翔楼新材 公告编号：2026-004 苏州翔楼新材料股份有限公司 关于 2023 年限制性股票激励计划 第二个归属期归属结果暨股份上市公告 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。 特别提示： 1、本次归属日：2026年2月10日 2、本次符合归属条件的激励对象人数：39人，本次第二类限制性股票拟归 属的第二类限制性股票数量：1,435,498股(调整后），占目前公司股本总额的 1.28% 3、本次第二类限制性股票上市流通日为2026年2月10日，本次归属的限制 性股票不设限售期 4、股份来源：公司向激励对象定向发行公司A股普通股股票 根据苏州翔楼新材料股份有限公司（以下简称"公司"）2023 年第二次临时 股东会授权，公司于 2026 年 1 月 27 日召开第四届董事会第四会议，审议通过了 《关于 2023 年限制性股票激励计划第二个归属期归属条件成就的议案》。近日， 公司办理完成了 2023 年限制性股票激励计划第二个归属期归属股份的登记工作。 现将有关情况公告如下： 一、2023 年限制性股权激励计划实施情况概要 ...

Investment Rating - The report maintains an "Overweight" rating for the steel industry [5]. Core Insights - Demand is expected to gradually stabilize, while supply-side constraints are anticipated to continue, leading to a potential recovery in the steel industry's fundamentals. If supply policies are implemented, the contraction in supply may accelerate, facilitating a quicker industry upturn [3][4]. Summary by Sections Steel Market Overview - Steel prices have decreased, with the Shanghai rebar price dropping by 20 CNY/ton to 3240 CNY/ton, a decline of 0.61%. The total inventory of steel has increased by 1.70% to 12.7851 million tons [8][12]. - Apparent consumption of five major steel products was 8.0174 million tons, down 0.96% week-on-week but up 28.96% year-on-year [21]. - The production of five major steel products was 8.2317 million tons, an increase of 0.44% week-on-week [12][37]. Supply and Demand Dynamics - Approximately 60% of steel companies are currently operating at a loss, indicating a market-driven supply clearance is beginning to occur [4]. - The construction sector's demand for steel is expected to stabilize, while demand from infrastructure and manufacturing is projected to grow steadily [4]. Profitability and Production Margins - The average gross profit for rebar was 196.9 CNY/ton, down 11.7 CNY/ton from the previous week, while hot-rolled coil profit increased by 2.3 CNY/ton to 46.9 CNY/ton [39]. - The profitability rate of 247 steel companies was 39.39%, a decrease of 1.3% from the previous week [28]. Recommendations - The report recommends focusing on companies with leading technology and product structures, such as Baosteel and Hualing Steel, as well as low-cost firms like Fangda Special Steel and New Steel [4]. - It also highlights the potential of upstream resource companies like Hebei Resources and Erdos, which may benefit from a recovery in demand [4].

Investment Rating - The report maintains a "Buy" rating for several steel companies, including Hualing Steel, Baosteel, Nanjing Steel, and others, indicating a positive outlook for their performance [2][4]. Core Insights - The report highlights that raw material inventory replenishment is nearly complete, with a focus on changes in real estate policies. It notes that steel production and apparent consumption are stabilizing, with a narrowing year-on-year decline in demand [8][32]. - The report anticipates that steel mill profits may continue to recover due to improved margins from raw material cost reductions and potential easing of real estate regulations [8][32]. Summary by Sections Domestic Steel Market - As of January 30, 2026, steel prices have decreased, with rebar priced at 3,240 CNY/ton, down 20 CNY from the previous week. Hot-rolled and cold-rolled prices also saw declines [15][16]. - The total production of major steel products reached 8.23 million tons, with an increase in inventory levels [8][32]. Profitability Analysis - The report estimates weekly gross margins for rebar, hot-rolled, and cold-rolled steel to have changed by -17 CNY/ton, +3 CNY/ton, and -19 CNY/ton respectively, indicating fluctuations in profitability [8][32]. Production and Inventory - The total inventory of major steel products rose by 222,100 tons to 8.89 million tons, with a slight decrease in steel mill inventory [8][32]. - Apparent consumption of rebar was estimated at 1.764 million tons, reflecting a decrease of 91,200 tons week-on-week [8][32]. Investment Recommendations - The report recommends several companies based on their market position: 1. Leading companies in the general steel sector: Hualing Steel, Baosteel, Nanjing Steel 2. Specialty steel sector: Xianglou New Materials, CITIC Special Steel, Fangda Special Steel 3. Pipe manufacturers: Jiuli Special Materials, Youfa Group, Changbao Co. 4. Raw material companies with clear growth: Dazhong Mining (iron ore + lithium) and Fangda Carbon [8][32].

Market Overview - The special steel sector experienced a decline of 0.39% on January 29, with Changbao Co. leading the drop [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] Stock Performance - Notable stock performances in the special steel sector include: - CITIC Special Steel (000708) closed at 15.90, up 1.47% with a trading volume of 265,300 shares and a turnover of 419 million yuan [1] - Fangda Special Steel (600507) closed at 6.41, up 0.94% with a trading volume of 678,000 shares and a turnover of 439 million yuan [1] - Fushun Special Steel (600399) closed at 6.82, up 0.44% with a trading volume of 1,043,200 shares and a turnover of 721 million yuan [1] - Changbao Co. (002478) closed at 9.82, down 4.01% with a trading volume of 541,800 shares and a turnover of 546 million yuan [2] Capital Flow Analysis - The special steel sector saw a net outflow of 82.17 million yuan from institutional investors, while retail investors had a net inflow of 84.75 million yuan [2] - Detailed capital flow for selected stocks includes: - CITIC Special Steel had a net inflow of 47.09 million yuan from institutional investors [3] - Changbao Co. experienced a net outflow of 21.95 million yuan from institutional investors [3] - Retail investors contributed a net inflow of 50 million yuan to Changbao Co. [3]

Market Performance - The special steel sector increased by 1.53% on January 28, with Jiuli Special Materials leading the gains [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] Stock Performance - Jiuli Special Materials (002318) closed at 35.43, up 7.36% with a trading volume of 206,200 shares and a transaction value of 698 million [1] - Other notable performers include: - Taiyuan Iron & Steel (000825) at 5.52, up 2.99% [1] - Fangda Special Steel (600507) at 6.35, up 2.25% [1] - Xining Special Steel (600117) at 2.98, up 1.36% [1] - Conversely, Changbao Co. (002478) and Jinzou Pipeline (002443) saw declines of 0.87% and 1.11%, respectively [1] Capital Flow - The special steel sector experienced a net outflow of 23.98 million from institutional investors and 18.07 million from retail investors, while retail investors saw a net inflow of 42.05 million [2] - The detailed capital flow for individual stocks indicates that Jiuli Special Materials had a net inflow of 21.80 million from institutional investors [3] - Other stocks with significant net inflows include: - Taiyuan Iron & Steel with 14.52 million [3] - Fangda Special Steel with 12.80 million [3] - Notably, Xining Special Steel had a net inflow of 6.99 million from institutional investors [3]

（文章来源：证券日报） 证券日报网讯 1月27日，翔楼新材发布公告称，公司2023年限制性股票激励计划第二个归属期条件成 就，39名激励对象可归属1，435，498股，占当前总股本1.28%，授予价10.98元/股，股份来源为定向增 发A股；董事会已审议通过，待完成登记后上市流通。 ...