山东钢铁：“变革求生”成效显著 上半年实现扭亏为盈

Core Viewpoint - Shandong Steel has successfully turned a profit in the first half of 2025 despite ongoing supply and demand pressures in the steel industry, achieving significant improvements in revenue and profitability metrics [1] Financial Performance - The company reported operating revenue of 36.806 billion yuan, with a total profit of 292 million yuan, an increase of 1.353 billion yuan year-on-year [1] - The net profit attributable to shareholders reached 12.5258 million yuan, up by 981 million yuan year-on-year [1] - Net cash flow from operating activities was 2.821 billion yuan, reflecting an 88.31% year-on-year increase [1] - In Q2, the net profit attributable to shareholders was 26.9407 million yuan, a quarter-on-quarter increase of 41.3555 million yuan [1] Cost Control and Production Efficiency - The company achieved a reduction in comparable cost per ton of steel by 65.90 yuan through enhanced cost management and control measures [2] - Significant improvements in production efficiency were noted, with stable operations at the Jinan Steel City base and record production levels across various product lines [2] Market and Product Structure Optimization - The company has advanced its strategy of localization, terminal supply, high-end products, and internationalization, with localized sales increasing by 11 percentage points [3] - Steel exports reached 642,600 tons, a year-on-year increase of 3.71% [3] - The company developed 47 new products, with a promotion volume of 344,000 tons, and achieved a leading product ratio of 8.4% [3] Green and Digital Transformation - The company maintained an A-level environmental performance, with significant reductions in energy consumption per ton of steel at both Jinan and Rizhao bases [3] - An AI digital department was established to enhance smart manufacturing capabilities [3] Market Outlook - Analysts suggest that ongoing supply-side contractions and cost optimizations in the steel industry will create mid-term benefits, stabilizing steel prices and enhancing profitability [3]