| 证券代码：603878 | 证券简称：武进不锈 | 公告编号：2026-004 | | --- | --- | --- | | 债券代码：113671 | 债券简称：武进转债 | | 江苏武进不锈股份有限公司 2025 年第四季度经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 特此公告。 江苏武进不锈股份有限公司董事会 二〇二六年一月二十八日 根据《上海证券交易所上市公司自律监管指引第 3 号—行业信息披露》之《第 七号—钢铁》中第二十二条的相关规定，江苏武进不锈股份有限公司现将 2025 年第四季度主要经营数据（未经审计）公告如下： | 主要产 | 生产量（吨） | | | | 销售量（吨） | | | | | 销售价格（元/吨） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 品 | 第四季度 | | 本年累计 | | 第四季度 | | 本年累计 | | 第四季度 | | 本年累 ...

Core Points - India will significantly reduce tariffs on cars imported from the EU from 110% to as low as 10%, with an annual quota of 250,000 vehicles [2][1] - Tariffs on auto parts will be completely eliminated within five to ten years [3] - Tariffs on machinery (up to 44%), chemicals (22%), and pharmaceuticals (11%) will also be largely eliminated [4] - The agreement will remove tariffs on over 90% of EU goods [5] - A proposal for zero tariffs on EU steel products has been made [6] - High tariffs on EU agricultural products will be removed or reduced [7] - Wine tariffs will be reduced to 20%-30%, spirits to 40%, and beer to 50% [8] - Overall, this will save approximately €4 billion in tariffs for European products annually [9]

Market Overview - The A-share market showed mixed performance today, with the Shanghai Composite Index slightly up by 0.18% closing at 4139.9 points, and the Shenzhen Component Index up by 0.09% closing at 14329.91 points. The ChiNext Index increased by 0.71% to 3342.6 points, while the STAR 50 Index rose by 1.51% to 1555.98 points. Overall, there were 1928 stocks that rose and 3450 that fell, with a total trading volume of 28950 billion yuan, a decrease of 3532 billion yuan from the previous trading day [1][2]. Industry Performance - Among the Shenwan first-level industries, electronics, communications, defense and military industry, machinery equipment, and media sectors led the gains with increases of 2.27%, 2.15%, 1.65%, 0.64%, and 0.48% respectively. Conversely, the coal, agriculture, forestry, animal husbandry and fishery, steel, beauty care, and pharmaceutical biotechnology sectors experienced declines, with decreases of 2.27%, 1.95%, 1.34%, 1.22%, and 1.11% respectively [1][2]. Concept Sector Performance - The concept sectors that saw the highest gains today included cultivated diamonds, superhard materials, advanced packaging, optical chips, memory, analog chips, BC batteries, automotive chips, semiconductor silicon wafers, MCU chips, semiconductor selections, optical modules (CPO), wafer industry, and IGBT. In contrast, sectors such as cobalt mining, animal health selections, major infrastructure central enterprises, lithium battery anodes, and central enterprise coal experienced pullbacks [2].

今天的市场，用一个词形容就是"割裂"。指数看着还行，但手里的个股却可能绿油油一片，这种滋味确 实不好受。 截至午盘，上证指数微涨0.03%，收在4134.03点；创业板指和科创50分别上涨0.44%和0.57%。然而，指 数表面的平静之下，是超过4600只个股下跌的惨淡现实。市场呈现出典型的"指数稳、个股冷"格局，赚 钱效应非常集中，大多数投资者可能只赚了指数，没赚到钱。 相比之下，港股今天表现得更强势一些，恒生指数大涨1.08%。这背后有政策暖风的支持，央行宣布支 持香港人民币业务的资金安排翻倍至2000亿元，提升了离岸市场的流动性，给了外资和南向资金更多信 心。 那么，今天A股里，为数不多的"火"烧在哪里呢？答案非常清晰：科技主线。通信板块大涨2.13%，电 子板块上涨1.50%，成为两市最亮眼的风景线。此外，银行板块也上涨了1.03%，起到了稳定大盘的作 用。 通信和电子的强势，核心驱动力来自AI（人工智能）产业的重大进展。昨天，阿里发布了千问Qwen3- Max-Thinking大模型，性能达到国际顶尖水平。同时，AI领域另一家公司阶跃星辰完成了超50亿元的巨 额融资。这两大事件叠加，彻底点燃了市场对 ...

Group 1 - The core viewpoint of the news is that Hualing Steel's stock has experienced fluctuations, with a recent decline of 2.09% and a total market value of 42.074 billion yuan [1] - As of January 27, Hualing Steel's stock price is reported at 6.09 yuan per share, with a trading volume of 297 million yuan and a turnover rate of 0.69% [1] - The company has seen a year-to-date stock price increase of 8.36%, with a 3.22% rise over the last five trading days and a 7.79% increase over the last 20 days [1] Group 2 - As of September 30, the number of shareholders for Hualing Steel is 84,200, a decrease of 6.78% from the previous period [2] - For the period from January to September 2025, Hualing Steel reported operating revenue of 94.598 billion yuan, a year-on-year decrease of 14.96%, while net profit attributable to shareholders increased by 41.72% to 2.510 billion yuan [2] - The company has distributed a total of 10.436 billion yuan in dividends since its A-share listing, with 3.934 billion yuan distributed in the last three years [3] Group 3 - As of September 30, 2025, Hualing Steel's top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 157 million shares, an increase of 23.41 million shares from the previous period [3] - The Southern CSI 500 ETF is the seventh largest circulating shareholder, holding 60.438 million shares, a decrease of 1.0279 million shares from the previous period [3]

| 电力设备 | | | | 汉缆股份 | | | --- | --- | --- | --- | --- | --- | | 美容护理 | -2.08 | 34.54 | -11.60 | 延江股份 | -8.28 | | 农林牧渔 | -2.32 | 199.02 | -11.71 | 永顺生物 | -8.91 | | 钢铁 | -2.34 | 139.75 | -15.38 | 八一钢铁 | -9.57 | （文章来源：证券时报网） | 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比上日（%） | 领涨（跌）股 | 涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 通信 | 1.73 | 1120.31 | 1.59 | 澄天伟业 | 19.99 | | 电子 | 1.47 | 3266.26 | -7.37 | 东芯股份 | 20.00 | | 银行 | 1.43 | 213.19 | -26.78 | 农业银行 | 2.63 | | 石油石化 | 0.51 | 197.74 | -20.93 | 大庆华科 | 2.76 | | 非银金融 | ...

1月27日早盘，沪指盘中窄幅震荡上扬，创业板指等走高；小盘股整体疲弱，A股市场超4400股飘绿。 截至午间收盘，沪指微涨0.03%，深证成指跌0.37%，创业板指涨0.44%，科创50指数涨0.57%，中证 1000、中证2000指数跌超1%，沪深北三市合计成交约1.89万亿元。 华西证券认为，中长期视角下，本轮行情仍处中段，"慢牛"趋势有望延续。与2007年、2015年、2021年 高点相比，沪深300指数曾触及5300点—6000点区间，当前指数点位仅至中段；从大类资产比价的维 度，当前沪深300风险溢价5.27%，在近十年的几次行情中，风险溢价均降低至2.5%水平；从市值的角 度，A股总市值/M2、自由流通市值/居民存款的比重也均处于历史中枢附近，表明行情仍有充足空间与 机会。行业配置上，建议关注：科技产业行情扩散：如AI算力、AI应用、机器人、太空光伏、存储、 港股互联网等；受益于"反内卷"与涨价方向，如化工、有色金属等；年报业绩预告高增行业：如电子、 机械设备、医药等。 （文章来源：证券时报网） 盘面上看，农业、煤炭、钢铁、医药、石油、酿酒、电力等板块走低，保险、半导体板块强势拉升，银 行板块上扬， ...

Group 1 - The article emphasizes the importance of state-owned enterprises (SOEs) as a pillar of economic development in Henan province, focusing on the implementation of the "1+2+4+N" target task system and the construction of "six strong provinces" [2] - The government aims to enhance the integration of major enterprises like China Pingmei Shenma and Henan Steel, transitioning from "physical integration" to "chemical fusion" to promote green, intelligent, and integrated development in traditional industries [2] - The government is committed to maximizing production capacity by encouraging industrial enterprises to seize opportunities from a comprehensive incremental policy, aiming for the added value growth rate of regulated enterprises to match the provincial GDP in the first quarter [2] Group 2 - Investment will be focused on key areas such as transportation, water conservancy infrastructure, major industries, and emerging projects, with a target of completing approximately 12 billion yuan in investments in the first quarter [3] - The tourism sector is expected to see significant activity, with an estimated 3.66 million visitors and around 690 million yuan in revenue in the first quarter, driven by initiatives to attract tourists to Henan [3] - The government plans to enhance international cooperation and logistics, aiming for over 700 China-Europe freight trains to operate in the first quarter and the establishment of new international and domestic passenger routes [3]

河北是全国首屈一指的钢铁大省，产业基础雄厚、链条完整，但同时面临着技术创新和绿色发展的新挑 战。农行河北分行针对钢铁行业转型升级发展需求，持续强化金融支持，帮助钢铁企业"强身健体"，练 就创新图强的"真功夫"。过去一年，该行大力支持全省钢铁产业转型升级，取得突出成效。该行聚焦唐 山、邯郸等重点区域，为河钢乐钢建设、邯钢搬迁项目累计提供信贷支持35亿元，同时为主流钢铁企业 发行绿色债券，助力低碳发展。 在位于邯郸市的冀南钢铁集团有限公司的车间内，高端模具钢、螺纹钢等各类高附加值产品经智能化流 水线制造出厂，车间外的厂区整洁有序、景色秀美，颠覆了传统冶金"黑笨粗"的固有印象。冀南钢铁集 团是在河北省、邯郸市两级政府的积极引导和大力扶持下，由以武安市裕华钢铁为骨干的省内多家钢铁 公司融合成立的大型钢铁企业，连续多年入围"中国民营企业500强"名单。近年来，该企业持续加大技 术研发投入，其开发的高端模具钢填补了国内性能热作模具钢的空白，成为河北省首家成功打入欧盟市 场的钢铁企业。同时，该企业大力投资环保改造，在绿色转型方面取得了一系列标志性成果。多年来， 农行邯郸分行持续深化与冀南钢铁的业务合作，市县分支行抽调精兵强 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core Views - The price of steel products is expected to move in a range-bound manner, with its focus shifting downwards and showing a weak performance [1][3] - The price of aluminum ingots is expected to fluctuate at a high level in the short - term, and attention should be paid to macro - sentiment and mining - end news [4] 3. Summary by Relevant Content Steel Products - **Production Impact**: Yunnan and Guizhou short - process construction steel producers will halt production from mid - to late January and resume around the 11th to 16th day of the first lunar month, affecting 741,000 tons of output. In Anhui, 6 short - process steel mills, 1 stopped on January 5, most will stop in mid - January, and some after January 20, with a daily output impact of about 16,200 tons [2][3] - **Market Transaction**: From December 30, 2024, to January 5, 2025, the total transaction area of newly built commercial housing in 10 key cities was 2.234 million square meters, a 40.3% week - on - week decrease and a 43.2% year - on - year increase [3] - **Market Situation**: Steel products continued to decline yesterday, hitting a new low. In a weak supply - demand situation, market sentiment is pessimistic, and winter storage is sluggish, providing little price support [3] - **Later Concerns**: Macro policies and downstream demand [3] Aluminum Products - **Macro Factors**: The market expects the Fed to keep interest rates unchanged this week, but news of Powell's successor may impact the market [2] - **Raw Material Supply**: Some northern mining areas have reduced production due to weather. In Henan, bauxite mining in Xin'an stopped last weekend and is resuming, with an 80% drop in supply due to transportation issues. Southern domestic mines are stable, and domestic ore prices are expected to remain stable [3] - **Production Situation**: Domestic and Indonesian electrolytic aluminum projects are ramping up, and daily output is rising. The overall aluminum processing start - up rate was 60.9% last week, up 0.7 percentage points. Different sub - industries have different situations, with some affected by environmental protection, weather, and market demand [3] - **Inventory**: On January 26, the inventory of electrolytic aluminum ingots in major consumption areas was 777,000 tons, up 28,000 tons from last Monday [3] - **Price Outlook**: Due to macro uncertainty and weak dollar, non - ferrous metals are strong. Aluminum prices are expected to remain high in the short term, and attention should be paid to macro events and downstream feedback [4] - **Later Concerns**: Changes in macro expectations, development of geopolitical crises, mine resumption, and consumption release [4]