SHANDONG STEEL(SH:600022) Sou Hu Cai Jing·2025-08-03 22:38Core Viewpoint - Shandong Steel (600022) is experiencing significant operational improvements, with expectations of turning a profit in 2025 after a challenging period due to industry cycles and high raw material prices. The company is committed to a revised dividend policy that aims to reward shareholders when conditions allow [2]. Financial Performance - As of August 1, 2025, Shandong Steel's stock closed at 1.53 yuan, up 0.66%, with a trading volume of 657,300 shares and a total transaction value of 100 million yuan [1]. - The company anticipates a total profit of approximately 293 million yuan for the first half of 2025, representing a year-on-year increase of about 1.354 billion yuan. The net profit attributable to shareholders is expected to be around 12.71 million yuan, marking a turnaround from losses with a year-on-year increase of approximately 981 million yuan [2]. Dividend Policy - The company has not distributed dividends in recent years due to negative retained earnings caused by industry downturns and high raw material costs. However, it has revised its dividend policy to aim for annual cash dividends of at least 50% of the remaining after-tax profits once conditions permit [2]. Strategic Initiatives - Shandong Steel is focusing on enhancing value creation and operational efficiency, with plans to integrate its coking and iron-making processes by transferring all operations and personnel from the coking plant to the iron-making plant [7][8]. - The company is also exploring deeper collaboration with its parent company, China Baowu Steel Group, to leverage synergies in management and operations, although there are currently no plans for capital cooperation [5][8]. Market Activity - On August 1, 2025, the net inflow of main funds into Shandong Steel was 3.77 million yuan, accounting for 3.76% of the total transaction value, while retail investors showed a net outflow of 6.87 million yuan, representing 6.85% of the total [6][8].