Baosteel(SH:600019) Chang Jiang Shang Bao·2025-05-26 00:57Core Viewpoint - Baosteel Co., Ltd. has achieved a significant technological breakthrough by launching four new non-oriented silicon steel products, which are crucial materials for industries such as humanoid robots and low-altitude aircraft [2][3]. R&D Investment and Achievements - In 2024, Baosteel plans to invest 25.044 billion yuan in R&D, with a total of 73.2 billion yuan invested over the past four years [2][5]. - The company has nearly 10,000 R&D personnel, accounting for 21.7% of its total workforce, and has received approximately 12,867 authorized patents, with 41.2% being invention patents [6][8]. - Baosteel's R&D team has successfully developed the B10AHV900M non-oriented silicon steel, which is 0.1 mm thick and has achieved an iron loss value below 9 W/kg, a first in the industry [3][4]. Financial Performance - In Q1 2024, Baosteel reported a net profit attributable to shareholders of 2.434 billion yuan, a year-on-year increase of 26.37%, despite a 9.82% decline in revenue to 72.88 billion yuan [8][10]. - The company has maintained a strong profitability record, with cumulative profits of approximately 2525.54 billion yuan since its listing in 2000, and has never reported an annual loss [9][10]. Market Position and Strategy - Baosteel's non-oriented silicon steel products are expected to enhance its competitiveness in the domestic market, which has historically relied on imports for similar products [4][5]. - The company is actively pursuing digital transformation and energy-saving initiatives, with a focus on integrating smart applications into its operations [7][8].