马钢股份：马钢有限现阶段整体直供客户占比在40%左右

Core Viewpoint - Maanshan Iron & Steel Co., Ltd. (Ma Steel) is currently focusing on increasing its direct supply ratio to customers, which stands at approximately 40%, with a higher ratio in plate and special steel products compared to long products [1] Group 1 - The overall direct supply ratio of Ma Steel is around 40%, with plate and special steel products having a higher direct supply ratio than long products [1] - The company acknowledges that its direct supply ratio is still lower than that of Baosteel Co., Ltd. (Baosteel) due to the warehouse-style sales model for long products [1] - Ma Steel plans to enhance its direct supply ratio in the plate sector by learning from best practices and optimizing its sales system to gradually approach Baosteel's direct supply level [1] Group 2 - The company aims to deepen its focus on regional markets and expand its reach to small and medium-sized end-users [1] - Ma Steel intends to systematically optimize its channel structure by reducing orders from distributors and promoting steady increases in order volumes and market share from end customers [1] - The goal is to continuously strengthen the overall competitiveness of its direct sales system [1]