浙江久立特材科技股份有限公司 2025 年第一期员工持股计划（草案） 证券简称：久立特材 证券代码：002318 浙江久立特材科技股份有限公司 2025 年第一期员工持股计划 （草案） 二〇二五年十一月 浙江久立特材科技股份有限公司 2025 年第一期员工持股计划（草案） 声明 本公司及董事会全体成员保证本员工持股计划内容真实、准确和完整，不存 在虚假记载、误导性陈述或者重大遗漏。 1 浙江久立特材科技股份有限公司 2025 年第一期员工持股计划（草案） 风险提示 一、浙江久立特材科技股份有限公司（以下简称"久立特材"或"公司"） 2025年第一期员工持股计划（以下简称"本员工持股计划"）须经公司股东会批 准后方可实施，本员工持股计划能否获得公司股东会批准，存在不确定性。 二、有关本员工持股计划的具体资金来源、出资比例、实施方案等属初步结 果，能否完成实施，存在不确定性。若员工认购资金较低，则本次员工持股计划 存在不能成立的风险；若员工认购资金不足，本次员工持股计划存在低于预计规 模的风险。 三、本员工持股计划由公司自行管理，公司设立员工持股计划管理委员会， 作为员工持股计划的日常监督和管理机构，代表员工持股 ...

证券代码：002318 证券简称：久立特材 公告编号：2025-045 浙江久立特材科技股份有限公司 2025 年第一期员工持股计划（草案） 摘要 本公司及董事会全体成员保证本员工持股计划内容真实、准确和完整，不 存在虚假记载、误导性陈述或者重大遗漏。 风险提示 一、浙江久立特材科技股份有限公司（以下简称"久立特材"或"公司"） 2025年第一期员工持股计划（以下简称"本员工持股计划"）须经公司股东会批 准后方可实施，本员工持股计划能否获得公司股东会批准，存在不确定性。 二、有关本员工持股计划的具体资金来源、出资比例、实施方案等属初步结 果，能否完成实施，存在不确定性。若员工认购资金较低，则本次员工持股计划 存在不能成立的风险；若员工认购资金不足，本次员工持股计划存在低于预计规 模的风险。 三、本员工持股计划由公司自行管理，公司设立员工持股计划管理委员会， 作为员工持股计划的日常监督和管理机构，代表员工持股计划行使表决权，公司 采取了适当的风险防范和隔离措施切实维护员工持股计划持有人的合法权益。存 续期内，管理委员会可聘请第三方专业机构为本员工持股计划提供管理、咨询等 服务。 四、公司将根据规定披露相关进展情 ...

董事会薪酬与考核委员会关于公司2025年第一期员工持股计划 相关事项的审核意见 浙江久立特材科技股份有限公司 浙江久立特材科技股份有限公司（以下简称"公司"）董事会薪酬与考核委 员会依据《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》"）《关于上市公司实施员工持股计划试点的指导 意见》（以下简称"《指导意见》"）《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》（以下简称"《监管指引第1号》"）等有关法律、 法规、规范性文件的规定，现就公司2025年第一期员工持股计划（以下简称"本 次员工持股计划"）相关事项发表意见如下： 1、公司2025年第一期员工持股计划（草案）的内容符合《指导意见》《监管 指引第1号》等法律、法规及规范性文件的规定，不存在损害公司及全体股东利 益的情形； 3、公司发布本次员工持股计划前，已经召开职工代表大会并充分征求了员 工意见，不存在摊派、强行分配等方式强制员工参与员工持股计划的情形； 4、本次员工持股计划拟定的持有人名单符合《指导意见》《监管指引第1号》 等相关法律法规关于员工持股计划规定的持有人条件，符合本次员 ...

证券代码：002318 证券简称：久立特材 公告编号：2025-044 浙江久立特材科技股份有限公司 关于召开 2025 年第二次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 1、股东会届次：2025 年第二次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交 易所股票上市规则》《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》等法律、行政法规、部门规章、规范性文件及《公司章 程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 12 月 5 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间 为 2025 年 12 月 5 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易 所互联网投票系统投票的具体时间为 2025 年 12 月 5 日 9:15 至 15:00 的任意时 间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2025 ...

证券代码:002318 证券简称:久立特材 公告编号:2025-043 浙江久立特材科技股份有限公司 第七届董事会第十六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、会议召开情况 （一）会议以 8 票同意、0 票反对、0 票弃权的表决结果，审议通过了《关 于<2025 年第一期员工持股计划（草案）>及其摘要的议案》，其中董事李郑周、 苏诚、沈筱刚回避表决。 本议案已经公司董事会薪酬与考核委员会审议通过。 公司于 2025 年 11 月 17 日召开职工代表大会，就拟实施公司 2025 年第一 期员工持股计划（以下简称"本次员工持股计划"）事宜充分征求了员工意见， 会议同意公司实施本次员工持股计划。 为完善劳动者与所有者的利益共享机制，进一步提升公司治理水平，增强 员工的凝聚力与公司整体竞争力，公司根据相关法律法规的规定，拟定了 《2025 年第一期员工持股计划（草案）》及其摘要。 《2025 年第一期员工持股计划（草案）》及其摘要详见公司指定信息披露 媒体巨潮资讯网（www.cninfo.com.cn），其中《2025 年第一期员工持股计 ...

Group 1 - The company, Jiuli Special Materials (SZ 002318), announced on November 18 that its 16th meeting of the 7th board of directors was held on November 17, 2025, to discuss the employee stock ownership plan for the first half of 2025 [1] - For the first half of 2025, the company's revenue composition is as follows: oil, chemical, and natural gas account for 61.36%, power equipment manufacturing for 15.18%, other machinery manufacturing for 13.5%, and other non-divisible industries for 9.96% [1] - As of the report date, the market capitalization of Jiuli Special Materials is 24.7 billion yuan [1]

Core Viewpoint - The steel industry is experiencing a decline in demand and inventory, with expectations of a gradual recovery in profitability as supply-side constraints persist [1][3]. Group 1: Demand and Supply Analysis - The apparent consumption of five major steel products was 8.606 million tons, a decrease of 63,300 tons week-on-week; construction materials consumption was 3.0335 million tons, down 40,200 tons; and sheet materials consumption was 5.5725 million tons, down 23,100 tons [1]. - The production of five major steel products was 8.3438 million tons, a decrease of 223,600 tons week-on-week, while total inventory stood at 14.7735 million tons, down 262,200 tons [1]. - The operating rate of blast furnaces at 247 steel mills was 82.81%, a decrease of 0.32 percentage points week-on-week, while electric furnace operating rate was 60.9%, an increase of 1.28 percentage points [1]. Group 2: Profitability Trends - The average gross profit per ton for rebar was 81.4 CNY, an increase of 4.3 CNY week-on-week, while hot-rolled coil showed a negative gross profit of -16.6 CNY, also up by 4.3 CNY [2]. - The profitability rate for 247 steel companies was 38.96%, a decrease of 0.87 percentage points week-on-week [2]. Group 3: Future Outlook - The real estate sector's ongoing decline is expected to reduce its negative impact on steel demand, while demand from infrastructure and manufacturing is anticipated to stabilize [3]. - The steel industry has been in a loss phase since Q3 2022, with nearly 60% of steel companies still reporting losses, indicating a market-driven supply clearance is beginning to occur [3]. - The recently released "Steel Industry Stabilization and Growth Work Plan (2025-2026)" emphasizes continued production reduction policies to promote dynamic supply-demand balance [3]. Group 4: Investment Recommendations - Long-term trends indicate that increased industry concentration and high-quality development will benefit steel companies with product structure and cost advantages [4]. - Key recommendations include Baosteel (600019.SH), Hualing Steel (000932.SZ), and Shougang (000959.SZ) for their leading technology and product structures, as well as CITIC Special Steel (000708.SZ) and Yongjin Co. (603995.SH) for their competitive advantages [4].

Group 1: Macroeconomic Insights - In October, general public budget expenditure turned negative year-on-year, with spending related to "three guarantees" and infrastructure investment showing a decline compared to the previous month, necessitating attention to the effectiveness of incremental fiscal policies since September [2] - Government fund revenues and expenditures are both slowing down, with expectations for improvement once local government debt limits are set and utilized to supplement overall financial capacity [2] - The supply of government bonds for the year is nearing its end, while an increase in fiscal deposits year-on-year in October indicates that there is still room for fiscal funds to be released, which is favorable for future liquidity [2] Group 2: High-end Manufacturing Industry - The controlled nuclear fusion industry is projected to have long-term growth potential, with a recent procurement project exceeding 2 billion yuan, covering areas such as power systems, low-temperature systems, and shielding layers [3] - Key companies to watch in the vacuum chamber and internal components segment include: Hezhong Intelligent, Guoguang Electric, Antai Technology, Yingliu Co., Parker New Materials, and Tiangong International [3] - In the magnet system segment, notable companies include Lianchuang Optoelectronics and Yongding Co., while in the power system segment, focus on Sichuan Chuang Electronics, Wangzi New Materials, and Xuguang Electronics [3] Group 3: Non-ferrous Metals Industry - Supply growth for steel, copper, and aluminum remains constrained, with gold benefiting from the US interest rate cut cycle and central bank purchases [4] - Recommended stocks for steel include Baosteel Co. and Jiuli Special Materials, with attention to companies like Ordos, CITIC Special Steel, and Hualing Steel [4] - For copper, recommended stocks are Zijin Mining and Luoyang Molybdenum, with a focus on Tongling Nonferrous Metals and Western Mining [4] Group 4: Real Estate Market - As of November 16, 2025, new home transactions in 20 cities totaled 674,000 units, a decrease of 10.6% year-on-year, with significant declines in cities like Beijing (-16%) and Shenzhen (-25%) [5] - In the second-hand housing market, transactions in 10 cities reached 667,000 units, an increase of 4.5% year-on-year, with notable growth in Shenzhen (+15%) and Shanghai (+11%) [5] Group 5: Company Research - Electronics - The company is expected to see performance improvement driven by its cellular baseband business, with mobile SoC and ASIC products supporting future growth [6] - Profitability recovery in the IoT business is slower than expected, leading to a downward revision of net profit forecasts for 2025 and 2026 [6] - The company maintains a "buy" rating due to the potential for growth in its mobile SoC product matrix and the high growth of its ASIC business benefiting from the trend of AI localization [6]

Investment Rating - The industry investment rating is Neutral, maintained [10] Core Views - The successful commissioning of the Simandou project and the gradual emergence of a relaxed iron ore trend are significant developments. Despite limited actual supply-demand impact on iron ore by 2025, the project's capacity of 120 million tons and the push for "anti-involution" suggest that global iron ore demand may not see significant growth. The trend towards relaxation in iron ore supply is becoming clearer [2][6] - Current global iron ore cash costs are around $90 per ton, and as the surplus increases, iron ore prices may gradually return to cost support levels. In the short term, high iron output and strong macroeconomic growth expectations at year-end support iron ore prices. However, as Simandou's capacity ramps up next year, prices may begin a smoother downward trend after the seasonal peak in April [2][6] Summary by Sections Section 1: Market Performance - The seasonal effect has deepened, with apparent steel demand continuing to weaken. The apparent consumption of the five major steel products decreased by 3.13% year-on-year and 0.82% month-on-month. The average daily pig iron output increased to 2.3688 million tons, up by 2.66 thousand tons per day [4] - Steel inventory continues to decrease, maintaining a median level. Total steel inventory decreased by 1.88% week-on-week and increased by 20.48% year-on-year. Prices for rebar and hot-rolled steel have also seen slight declines [4] Section 2: Simandou Project - The Simandou iron ore project in Guinea officially commenced operations on November 11, with a total investment exceeding $20 billion. The project includes over 600 kilometers of newly built multi-purpose railway and supporting port facilities, with an annual export capacity of up to 120 million tons [5][6] Section 3: Future Outlook - Looking ahead to 2026, the main trading theme in the steel sector may be "iron ore concessions + the realization of steel production cuts under anti-involution." The profit distribution in the black industry chain shows that iron ore occupies a significant share, indicating ample room for concessions. Major steel companies like Nanjing Steel, Hualing Steel, and Baosteel may see further performance elasticity due to cost relaxation and resilient steel sales prices [7][27]

Market Overview - The special steel sector experienced a decline of 0.82% on November 17, with CITIC Special Steel leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Individual Stock Performance - Fushun Special Steel (code: 6682009) closed at 5.60, up 1.63% with a trading volume of 436,000 shares and a turnover of 244 million yuan [1] - Jiu Li Special Materials (code: 002318) closed at 26.06, up 1.32% with a trading volume of 139,900 shares and a turnover of 368 million yuan [1] - CITIC Special Steel (code: 000708) closed at 14.94, down 2.42% with a trading volume of 277,700 shares and a turnover of 417 million yuan [2] Capital Flow Analysis - The special steel sector saw a net outflow of 127 million yuan from institutional investors, while retail investors had a net inflow of 214 million yuan [2] - The capital flow for individual stocks showed that Jiu Li Special Materials had a net inflow of over 900,130 yuan from institutional investors, while Fushun Special Steel experienced a net outflow of 259,990 yuan [3]