（文章来源：证券日报） 证券日报网讯 12月23日，鞍钢股份发布公告称，公司第十届董事会第四次会议审议通过《关于修订的 议案》《鞍钢股份有限公司2025年度内部控制评价工作方案》《关于修订的议案》。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （股份編號：0347） 海外監管公告 承董事會命 鞍鋼股份有限公司 王 軍 執行董事兼董事長 中國遼寧省鞍山市 二零二 五 年 十二月 二十三 日 於 本 公 告 日 期，本 公 司 董 事 會 成 員 如 下： 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條 作 出。 茲載列鞍鋼股份有限公司（「 本公司」）於二零二 五 年 十二月 二十四 日 在《 中國證券報》、《 證券時報》、《 上海證券報》或巨潮資訊網 (http://www.cninfo.com.cn)刊 登 的 以 下 公 告 全 文，僅 供 參 考。 * 僅供識別 证券代码：000898 证券简称：鞍钢股份 公告编号：2025-057 鞍钢股份有限公司 第十届董事会第四次会议决议公告 本公司及其董事保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈 ...

鞍钢股份有限公司 募集资金使用管理办法 （2025 修订） 第一章 总 则 第一条 为规范鞍钢股份有限公司（以下简称公司或鞍钢股 份）募集资金的使用和管理，保护投资者权益，依照《中华人民 共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》 （以下简称《证券法》）、《上市公司证券发行管理办法》《上市公 司募集资金监管规则》《深圳证券交易所股票上市规则》（以下简 称《深交所上市规则》）《深圳证券交易所上市公司自律监管指引 第 1 号——主板上市公司规范运作》《香港联合交易所有限公司 证券上市规则》等法律、法规、规范性文件以及《鞍钢股份有限 公司章程》（以下简称《公司章程》），结合公司实际情况，特制 定本办法。 第二条 本办法所指募集资金是指公司通过发行股票或者其 他具有股权性质的证券，向投资者募集并用于特定用途的资金， 不包括公司为实施股权激励计划募集的资金。 本办法所称超募资金，是指实际募集资金净额超过计划募集 1 资金金额的部分。 第三条 本办法适用于鞍钢股份及所属直属单位、分公司、 全资子公司、控股子公司。 第二章 募集资金的存放 第四条 公司应当审慎选择商业银行并开设募集资金专项账 户（以下简 ...

证券代码：000898 证券简称：鞍钢股份 公告编号：2025-057 鞍钢股份有限公司 第十届董事会第四次会议决议公告 一、董事会会议召开情况 鞍钢股份有限公司（以下简称公司）于 2025 年 12 月 15 日以书面和 电子邮件方式发出董事会会议通知，并于 2025 年 12 月 23 日以通讯方式 召开第十届董事会第四次会议，董事长王军先生主持会议。公司现有董 事 9 人，出席会议董事 9 人。本次会议的召开符合《公司法》《公司章 程》的有关规定。 二、董事会会议审议情况 议案一、以 9 票同意，0 票反对，0 票弃权的表决结果，通过《关于 修订<鞍钢股份有限公司规章制度管理规定>的议案》。 为贯彻落实党中央关于完善中国特色现代企业制度的战略部署，按 照中共中央办公厅、国务院办公厅印发的《关于完善中国特色现代企业 制度的意见》有关部署要求，结合公司实际，公司对《鞍钢股份有限公 司规章制度管理规定》进行了修订。 议案二、以 9 票同意，0 票反对，0 票弃权的表决结果，通过《鞍钢 股份有限公司 2025 年度内部控制评价工作方案》。 该议案已经过公司审计与风险委员会审议通过。 为促进鞍钢股份全面评价内部控 ...

Group 1: Industrial and Environmental Initiatives - The Ministry of Industry and Information Technology and the Ministry of Ecology and Environment are organizing a collection of typical cases for industrial green low-carbon practices, focusing on "waste-free parks" and "waste-free enterprises" to enhance resource utilization efficiency and reduce industrial solid waste at the source [2] - The third round of the fifth batch of central ecological environment protection inspections has been completed, covering 10 inspection teams that entered Beijing, Tianjin, and Hebei, as well as five central enterprises for routine inspections [2] Group 2: Energy Sector Developments - Domestic oil prices have been reduced by 170 yuan per ton for gasoline and 165 yuan per ton for diesel, effective from December 22 [3] - The construction of the main project for the Bai Long Nuclear Power Plant in Guangxi has officially started, with a total investment of approximately 120 billion yuan and a planned capacity of 8.62 million kilowatts [3] Group 3: Maritime and Oil Industry Innovations - The world's first methanol dual-fuel intelligent ultra-large oil tanker, "Kai Tuo," has been successfully delivered, designed to carry approximately 2.1 million barrels of crude oil, showcasing advanced performance in navigation and low emissions [4] - China's first offshore unmanned platform for high-temperature cooling and external transportation of oil-gas-water mixtures has been achieved, supporting national energy security with a peak daily oil production expected to exceed 2,300 tons [7]

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report Supply - Static calculations show that from January to November 2025, China's iron ore imports first decreased and then increased, with a year-on-year increase of 8.76 million tons (1.5%) to 1.14 billion tons, and the annual total may exceed 1.249 billion tons. The new production capacities of mines in Australia and Brazil will be reflected in the fourth-quarter shipments, and imports are expected to continue a slight increase of 1.1% in 2026 [7][125]. - In 2025, China's cumulative iron ore output is expected to reach 295 million tons, a year-on-year decrease of 0.71%. The output rebounded in the fourth quarter as the pressure on safety and environmental protection eased. The output of domestic iron concentrate is expected to increase by 2% year-on-year in 2026 [7][125]. - The pricing benchmark of iron ore will decrease from 62% iron grade to 61%, and the pricing system may be adjusted [7][125]. - In 2026, the total supply will increase by 1.3% year-on-year to 1.544 billion tons [7][125]. Demand - Domestic: In 2025, the decline in the real estate sector slowed down, infrastructure investment showed positive year-on-year growth, and the manufacturing industry continued to improve. The annual iron ore demand was calculated to be 1.498 billion tons, a year-on-year increase of 59.97 million tons (+4.23%). The annual iron ore demand in 2026 is expected to remain stable with little change [7][125]. - Overseas: In 2026, the pig iron output in major overseas iron ore - importing countries is expected to decline slightly, while the steel demand in India and the United States will continue to be strong [7][125]. Inventory - As of early December 2025, the inventory at 45 ports was 154 million tons. The production capacity of mines increased slowly in the early stage of 2025 and started to expand in the fourth quarter. However, the demand showed strong resilience, and hot metal production was "not weak in the off - season". With the continued release of iron ore production capacity in 2026, static calculations suggest that the iron ore supply - demand situation will become looser, and there is a high possibility of continued inventory accumulation in 2026. However, short - term supply - demand tightness caused by meteorological and other factors may still occur [7][125]. 3. Summary According to the Relevant Catalogs Market Review - In January, affected by cyclones in Australia and rainfall in Brazil, shipments decreased sharply, and hot metal production stopped falling and rebounded earlier than expected. In early March, after the cyclone in Australia, shipments quickly recovered, but the upward momentum of hot metal was insufficient. With the seasonal recovery of shipments from Australia and Brazil, the resumption of domestic mines increasing supply, and the arrival of the downstream off - season, hot metal production reached its peak and gradually declined. Repeated adjustments of tariff policies caused disturbances that gradually weakened. The pre - festival restocking expectations of steel supported the rebound of iron ore prices. Hot metal production declined significantly, steel product profits continued to weaken, and port inventories increased. After a brief recovery, hot metal production stabilized, and the downstream winter restocking demand was released. After the quarterly shipment rush, the supply from international mines decreased rapidly, the output of domestic mines decreased significantly due to environmental protection, hot metal production continued to rise, and the output of the downstream five major steel products continued to increase. The shipments of international mines recovered, the output of domestic mines increased, but demand showed signs of decline, the off - season arrived, and hot metal production declined. Under the influence of major events, environmental protection restrictions were strict, downstream profits declined, demand weakened, and iron ore prices fluctuated. Vale's terminal maintenance unexpectedly affected shipments, and the US interest rate hikes boosted the macro - optimistic sentiment [5]. Supply - **Global Shipment Volume**: In 2025, the global mainstream iron ore shipment volume first decreased and then increased, with a slight year - on - year increase. As of December 12, 2025, the global average daily shipment volume was 4.47 million tons per day, a 2.76% increase compared to 4.35 million tons per day in the previous year. From January to September 2025, the global iron ore trade volume decreased by 2.38%, and China's iron ore imports from the world increased by 0.01% year - on - year. In the fourth quarter, the new iron ore production capacity was released, and from January to October 2025, China's imports of iron ore from the world increased by 0.75% year - on - year [12]. - **China's Imports from Australia and Brazil**: From January to October 2025, China's imports of iron ore from Australia and Brazil increased by 1.54%, showing a pattern of first decline and then increase, especially a significant improvement since September. China's imports of iron ore from non - Australia and Brazil regions decreased by 2.66%, also showing a pattern of first decline and then increase, especially since September [16]. - **Australia**: From January to September 2025, Australia's iron ore exports showed a pattern of low at first and then high, with a year - on - year decrease of 0.01%. From January to October 2025, China's imports of iron ore from Australia increased by 1.55% year - on - year. According to the capacity expansion plan, the main production capacity increments in Australia in 2025 come from the Xipo (officially put into production on June 6, 2025) and Onslow projects. If the weather remains normal, the iron ore shipments in the fourth quarter may maintain a certain increment [21]. - **Brazil**: From January to September 2025, Brazil's iron ore exports showed a pattern of low at first and then high, with a year - on - year increase of 4.48%. From January to October 2025, China's imports of iron ore from Brazil increased by 1.15% year - on - year. According to the capacity expansion plan, the main production capacity increment in Brazil in 2025 comes from Vale's S11D mining area expansion project (20 million tons). According to the capacity release plan, Brazil's iron ore exports may continue to grow in 2026 [26]. - **Major Mining Companies' Production and Shipment Targets**: - Rio Tinto: In fiscal year 2026, the shipment target will be increased by 20 - 28 million tons. From January to September 2025, the equity ore output was 210.1 million tons, a year - on - year decrease of 0.68%. The SP10 shipments remained at a high level throughout the year, squeezing part of the PB share. The Xipo mining area was fully put into production on June 6, 2025, to maintain the production of PB powder, which is the main source of production increment for Rio Tinto in 2025 [27][32]. - BHP: In fiscal year 2026, the shipment target range will be increased by 2 million tons. From January to September 2025, BHP's output was 196 million tons, a year - on - year increase of 0.63%. In fiscal year 2025 (July 2024 - June 2025), BHP's 100% equity output was 29 million tons, a year - on - year increase of 1.01%, reaching a record high. The South Slope mine was the main source of increment, with its capacity fully reaching 80 million tons per year in fiscal year 2025, and together with the C mining area, it forms the world's largest iron ore hub (total capacity of 145 million tons per year). Its high - grade ore (average iron grade of 62%) enhances BHP's product portfolio premium ability [33][38]. - FMG: In fiscal year 2026, the shipment target range will be increased by 5 million tons. From January to September 2025, FMG's output was 179.9 million tons, a year - on - year increase of 10.57%. In 2025, the shipments of Super Special Powder were at a high level, while the shipments of Mixed Powder were relatively weak. FMG has announced that the iron ore shipment target for fiscal year 2026 is set at 195 - 205 million tons, with both the upper and lower limits of the range increased by 5 million tons compared to the previous fiscal year. Among them, the shipment target for the Iron Bridge project is 10 - 12 million tons [40][44]. - Vale: In 2026, the target output will be increased by 10 million tons. From January to September 2025, Vale's iron ore output was 246 million tons, a year - on - year increase of 1.49%. The S11D production area is part of the Serra Sul mining complex in Vale's northern system. Vale proposed the Serra Sul 120Mtpy capacity growth project in August 2020, aiming to increase the annual production capacity of S11D by 20 million tons to 120 million tons, which is expected to be completed in the second half of 2026. The Serra Norte comprehensive mining area also belongs to the northern system, with an annual production capacity of 140 million tons. Vale is investing in the N3 mine maintenance project in this area, with a planned total investment of 84 million US dollars, and it is expected to be put into production in the first half of 2026. The Capanema Maximization project is a capacity growth plan proposed by Vale for its southeastern system, aiming to increase the combined output of the Fábrica Nova and Capanema mines, providing greater operational flexibility for the Mariana mining complex, with a planned investment of about 910 million US dollars. The Vargem Grande (VGR) complex is located in the southern system. Vale is carrying out the VGR 1 project in this area to maintain the operation of existing projects and promote the recovery of the mining area's production capacity. The VGR 1 project consists of three simultaneous sub - projects, with a total investment of 67 million US dollars. The increments from the S11D, Serra Norte, Vargem Grande, and Capanema mining areas may bring about 60 million tons of iron ore output increment for Vale in the next three years. It is expected that Vale's iron ore output will recover to the range of 340 - 360 million tons in 2026 [45][48]. - **Global Iron Ore Production Capacity Increment**: In 2026, the global iron ore production capacity is expected to increase by nearly 47 million tons, with the commissioning progress of Simandou attracting the most attention. There are expectations of increments in Australia, Brazil, and non - mainstream regions in 2026 [50]. - **China's Domestic Supply**: In 2025, the iron concentrate output of 332 domestic mining enterprises is expected to reach 294.82 million tons, a year - on - year decrease of 0.71%, mainly affected by environmental protection and safety inspections. In 2026, with the commissioning of new domestic production capacities and policy support, the output of finished ore (iron concentrate) is expected to increase slightly, with the increment mainly coming from the development of strategic resources in western regions such as Inner Mongolia and Xinjiang. From January to October 2025, China's total iron ore supply was about 1.276 billion tons, a year - on - year increase of 4.95 million tons (+0.39%). In 2026, with the successive commissioning of new production capacities in Simandou and Brazilian iron ore projects, the total supply may increase by 1.3% [74]. Demand - **Overseas Demand**: In 2025, the overseas pig iron output generally declined, with India continuing to maintain rapid growth. From January to October 2025, the overseas pig iron output was 335 million tons, a year - on - year decrease of 1.97%. Among the major overseas regions, India's pig iron output continued to maintain a high growth rate of +6.38%, while the pig iron output of other major steel - producing countries mainly declined. Among net - importing countries, the EU's pig iron output was 60.42 million tons, a year - on - year decrease of 3.327 million tons (-5.5%); the pig iron outputs of Japan and South Korea were 48.799 million tons and 36.168 million tons respectively, with year - on - year declines of -4.01% and -1.88% respectively. Japan's pig iron output has shown a continuous downward trend in recent years. Under the interest - rate hike cycle, its domestic economy is weak, orders from the automobile and machinery industries have decreased, and steel demand has decreased by 10%. Due to inflation pressure, Japan may raise interest rates again at the end of 2025, which will have a negative impact on steel demand. South Korea's construction industry is in a slump, and the exports of traditional manufacturing industries such as automobiles and shipbuilding are blocked. The steel industry demand in 2026 may continue to be weak. Europe's pig iron output continues to decline. High - interest - rate policies have restricted investment and consumption, and the demand for construction, durable consumer goods such as automobiles and home appliances is weak. The euro - zone economy has maintained a low - growth state for a long time, suppressing steel demand [80][81][87]. - **Domestic Demand**: In 2025, the pig iron output is expected to be high at first and then stable, with a year - on - year increase of more than 4.2%. From January to October 2025, the estimated pig iron output was 768 million tons, a cumulative year - on - year increase of 4.4%. Since June, hot metal production reached its peak and slowly declined, and steel mill profits gradually decreased. However, since the downstream inventory has always been maintained at a low level, the inventory - accumulation effect has not yet appeared. The estimated pig iron output in 2025 is 923 million tons, with an expected year - on - year increase of 4.2%. In 2026, it is expected that the real estate demand will still be sluggish, the growth rate of infrastructure investment will slow down, and the manufacturing industry will have a fair growth rate [94][99][100]. Inventory - **Overall Inventory Trend**: In 2025, iron ore shipments first decreased and then increased, while demand first increased and then decreased. In 2026, inventory may continue to increase. From January to August 2025, under the situation of a decline in overseas shipments and higher - than - expected demand, the iron ore port inventory maintained a de - stocking trend. Since September, especially after October, imports increased rapidly while downstream demand weakened, and the inventory increased rapidly. As of the latest data in early December 2025, the iron ore inventory across the entire industrial chain increased by about 11.85 million tons compared to the end of 2024 to 292 million tons. Looking forward to 2026, with the release of new production capacity and the difficulty of demand growth, the iron ore inventory may continue to accumulate [111]. - **Inventory Variety Differentiation**: The inventory of different varieties shows obvious differentiation. The inventory of Australian ore has recently declined from a high level. Against the background of the slow decline of the total inventory in 15 major ports, the inventory of different varieties shows obvious differentiation. The inventory of Brazilian ore is relatively stable, and the inventory of Australian ore has recently started to rise. The inventory of low - grade ore declined significantly from September to October and has slightly rebounded recently. The overall level of medium - grade ore has increased, and the inventory of PB powder has declined significantly from the high level in September [112][114]. Cost and Price - The current global cash cost of 90% of iron ore is at the level of about $90 per ton. Without obvious incremental expectations for pig iron demand in major overseas countries and China, the iron ore supply - demand balance may be achieved through price cuts and reduced shipments, and the cost support around $85 is relatively strong [117][118].

截至12月19日，8个例行督察组共收到群众来电、来信举报9879件，受理有效举报7365件，经梳理合并 重复举报，累计向被督察对象转办5122件。被督察对象已办结或阶段办结3222件。 各督察组坚持动真碰硬，深入一线、深入现场，查实一批突出生态环境问题，核实一批不作为、慢作 为，不担当、不碰硬，甚至敷衍应对、弄虚作假等问题，坚决反对打着环保幌子搞"一刀切"和问责泛 化、简单化以及以问责代替整改。 有关省（市）和中央企业高度重视中央生态环境保护督察工作，大力推动整改落实。在解决群众信访问 题中，既认真查处、坚决整改，也实事求是、分类施策，做到精准科学依法。 新华社北京12月22日电 生态环境部22日发布，第三轮第五批中央生态环境保护督察全面完成督察进驻 阶段工作。 经党中央、国务院批准，第三轮第五批10个中央生态环境保护督察组于11月16日至19日陆续进驻北京、 天津、河北3省（市），以及中国华电集团有限公司、国家能源投资集团有限责任公司、鞍钢集团有限 公司、中国宝武钢铁集团有限公司、中国中煤能源集团有限公司5家中央企业开展例行督察，同时对北 京、天津、河北、山东、河南、安徽、江苏、浙江等8省（市）开展大运河生 ...

Group 1 - The core viewpoint emphasizes that adhering to green development is a profound revolution in development concepts [1] - Xi Jinping highlighted that promoting green and low-carbon economic and social development is a key link to achieving high-quality development [2] - Various regions and departments are fully committed to advancing ecological civilization construction and improving the living environment for people [2] Group 2 - Pollution prevention and ecological system optimization are being advanced, with significant improvements in air and water quality; PM2.5 concentration in cities is expected to drop to 29.3 micrograms per cubic meter by 2024, a 16.3% decrease from 2020 [3] - The proportion of good water quality monitoring points has exceeded 90% for the first time, and the forest coverage rate has surpassed 25% [3] Group 3 - The carbon market is being strengthened, with a focus on deep transformation of traditional industries and the establishment of a modern ecological environment monitoring system [4] - By 2024, clean energy consumption is projected to account for 28.6% of total energy consumption, while coal's share is expected to decrease to 53.2% [4] Group 4 - The steel production industry is undergoing a comprehensive low-emission transformation, with 950 million tons of crude steel capacity achieving ultra-low emissions [5] - Approximately 200 million daily public transport trips indicate a growing trend towards green and low-carbon lifestyles [5] Group 5 - The "14th Five-Year Plan" period is crucial for advancing the construction of a beautiful China, with a focus on achieving fundamental improvements in ecological environments [6]

坚持绿色发展是发展观的一场深刻革命。 习近平总书记指出："推动经济社会发展绿色化、低碳化是实现高质量发展的关键环节。" 深入贯彻落实习近平总书记重要指示精神，各地区各部门全力以赴推进生态文明建设，全力以赴加强污 染防治，全力以赴改善人民生产生活环境，努力建设人与自然和谐共生的现代化。 加强碳市场建设，推动传统产业深度转型，培育发展新质生产力；推进美丽河湖保护与建设，深化流域 水生态环境保护；构建现代化生态环境监测体系，提升生态环境监测能力和水平……"十四五"时期，我 国经济社会发展全面绿色转型扎实推进，美丽中国建设迈出重大步伐。 深入推进污染防治攻坚和生态系统优化，筑牢生态安全屏障—— 广东深圳市南山区，环西丽湖绿道镶嵌在山林湖畔。"以前岸边很多杂草乱石，现在道路平了、景色美 了，看着就心情舒畅。"家住附近的居民李旺清经常来这里健步走。今年2月，环西丽湖绿道全线贯通投 用，当地坚持低干扰开发，修复水系与林相，为市民提供漫步骑行、赏花游园的高品质生态空间。 污染防治攻坚战向纵深推进，2024年，全国地级及以上城市PM2.5浓度下降至29.3微克/立方米，比2020 年下降16.3%，地表水优良水质断面比例为90 ...

Group 1: Green Development and Ecological Civilization - The core viewpoint emphasizes that promoting green and low-carbon economic and social development is crucial for achieving high-quality development, as highlighted by General Secretary Xi Jinping [1] - Various regions and departments are fully committed to advancing ecological civilization construction, pollution prevention, and improving the living environment for people, aiming to build a modern society where humans and nature coexist harmoniously [1] - During the "14th Five-Year Plan" period, significant progress has been made in the comprehensive green transformation of economic and social development, with major steps taken towards building a beautiful China [1] Group 2: Pollution Prevention and Environmental Quality - The nationwide PM2.5 concentration in cities is projected to decrease to 29.3 micrograms per cubic meter by 2024, a 16.3% reduction from 2020 levels, with the proportion of surface water quality meeting standards reaching 90.4% for the first time [2] - A natural protection area system centered on national parks is being rapidly established, with over 30% of land area designated as ecological protection red lines and forest coverage exceeding 25% [2] Group 3: Carbon Neutrality and Energy Transition - The carbon emissions trading market has been established, covering over 60% of national carbon dioxide emissions, and the country has built the largest and fastest-growing renewable energy system globally, achieving early completion of the 2030 renewable energy targets [3] - By 2024, the share of clean energy consumption in total energy consumption is expected to rise to 28.6%, while the proportion of coal in energy consumption is projected to decrease to 53.2% [3] Group 4: Green Production and Lifestyle - The steel production process at Ansteel's Bayuquan Steel Company has undergone a comprehensive ultra-low emission transformation, with real-time monitoring of major pollutant discharge points [4] - The country is actively promoting the green and low-carbon transformation of industrial, energy, and transportation structures, with the largest clean steel production system established globally, and approximately 200 million daily public transport trips being made [4] Group 5: Future Directions for Ecological Progress - The "15th Five-Year Plan" period is seen as a critical time for achieving fundamental improvements in ecological and environmental conditions, with a focus on integrating Xi Jinping's ecological civilization thought into development strategies [5]