FANGDA S.Steel(SH:600507) Zheng Quan Ri Bao Wang·2025-10-30 05:45Core Viewpoint - Fangda Special Steel reported significant growth in revenue and net profit for the first three quarters of 2025, indicating strong operational performance despite industry challenges [1] Financial Performance - For the period from January to September 2025, the company achieved operating revenue of 13.233 billion yuan and a net profit attributable to shareholders of 789 million yuan, representing a year-on-year increase of 317.39% [1] - In the third quarter alone, the company recorded operating revenue of 4.539 billion yuan and a net profit of 384 million yuan, showing a year-on-year increase of 1368.10% and a quarter-on-quarter increase of 147.94% [1] - The company's cash flow from operating activities remained healthy, supporting its annual performance goals [1] Industry Context - The domestic steel demand is still in an adjustment phase, with ongoing structural transformation in the industry and steel prices remaining low [2] - The average ex-factory price of black metal smelting and rolling industries fell by 8.6% year-on-year in the first nine months of 2025 [2] Strategic Initiatives - Fangda Special Steel is focusing on refined management, optimizing production organization, and implementing differentiated product strategies to control internal costs and alleviate external pressures [2] - The company is enhancing collaboration between production and sales, optimizing order planning, and ensuring quality control throughout the supply chain [2] - The company is actively pursuing major engineering projects in Jiangxi province to increase direct supply ratios and provide tailored services [2] Market Opportunities - The company has capitalized on the recovery of the domestic heavy truck market, which has boosted demand for upstream products like spring flat steel [3] - Fangda Special Steel has established a rapid response mechanism for integrated production, sales, and research to meet customer needs and improve product performance [3] Technological Advancements - The company has made substantial progress in R&D and product validation of key materials for new energy vehicles in collaboration with CATL [4] - In the first three quarters, Fangda Special Steel implemented 15 energy-saving technology transformation projects, leading to a 9.34% increase in self-generated electricity and an 8.70% rise in self-generation rate, both reaching historical highs [5] Future Outlook - The company plans to adhere to the "Steel Industry Growth Stabilization Work Plan (2025-2026)" and focus on high-quality development, enhancing product competitiveness, and proactive cost management [6] - In 2025, Fangda Special Steel has initiated 49 research projects in key areas such as intelligent manufacturing and green low-carbon technologies [6] - Strategic collaborations with companies like Huawei and CATL are progressing, focusing on digital transformation and new energy material R&D [6]