证券日报网讯1月9日，常青科技（603125）在互动平台回答投资者提问时表示，公司密切关注行业及产 业链发展动态，坚持自主创新与工艺优化，稳步推进关键材料国产化替代。关于"特种聚合材料助剂及 电子专用材料制造项目"，公司已构建了较为完整的技术与产品体系，相关产品的市场推广、认证及替 代工作，将结合行业特性推进客户多阶段验证与全产业链协同适配。未来，公司将持续投入研发，专注 于国际先进、国内空白领域，围绕下游高分子新材料性能的改善、功能的增强不断开拓创新，助力提升 我国相关产业国际竞争力。相关事项若达到信息披露标准，公司将严格依规及时公告。 ...

Core Viewpoint - The steel industry is expected to experience a structural transformation by 2026, with potential improvements in real estate dragging down or stabilizing, while infrastructure work may accelerate. However, overseas demand is likely to remain suppressed, leading to challenges in supply adjustments for steel mills under high operational pressure. The industry is anticipated to seek a new price equilibrium, with structural opportunities emerging, particularly in special steel as domestic substitution accelerates, potentially enhancing profitability and valuation levels [1][2][3]. Group 1 - The black steel prices are expected to seek a new equilibrium downward, with projected price centers for rebar, hot-rolled, and cold-rolled sheets at 2960, 3050, and 3850 yuan respectively by 2026 [2]. - The profit margins for rebar, hot-rolled, and cold-rolled sheets are estimated to be 127, 66, and 346 yuan per ton respectively, showing year-on-year increases of 77, 18, and 29 yuan, although these figures are below the ten-year median margins [2]. Group 2 - The steel industry is entering a new phase of "reduction and quality enhancement," with increasing differentiation among companies. Leading firms are expected to emerge from the industry downturn, driven by stricter capacity replacement policies and new industry standards focusing on low emissions and green production [3]. - The special steel sector is projected to benefit from high domestic manufacturing demand and increased investment in advanced manufacturing, leading to a significant shift towards high-value-added areas and improved competitiveness for special steel companies [3].