河钢股份（000709）3月24日主力资金净流入 2113.38万元 金融界消息 截至2025年3月24日收盘，河钢股份（000709）报收于2.32元，上涨1.75%，换手率1.28%， 成交量131.88万手，成交金额3.04亿元。 资金流向方面，今日主力资金净流入2113.38万元，占比成交额6.96%。其中，超大单净流入1385.49万 元、占成交额4.56%，大单净流入727.89万元、占成交额2.4%，中单净流出流出1162.95万元、占成交额 3.83%，小单净流出950.43万元、占成交额3.13%。 河钢股份最新一期业绩显示，截至2024三季报，公司营业总收入893.46亿元、同比减少6.59%，归属净 利润5.69亿元，同比减少29.34%，扣非净利润2.75亿元，同比减少45.98%，流动比率0.523、速动比率 0.380、资产负债率74.76%。 天眼查商业履历信息显示，河钢股份有限公司，成立于1997年，位于石家庄市，是一家以从事黑色金属 冶炼和压延加工业为主的企业。企业注册资本1033712.1092万人民币，实缴资本67398.1929万人民币。 公司法定代表人为王兰玉。 通过 ...

马钢股份（600808）3月24日主力资金净流入 3402.82万元 金融界消息 截至2025年3月24日收盘，马钢股份（600808）报收于3.25元，上涨2.52%，换手率1.86%， 成交量110.80万手，成交金额3.59亿元。 资金流向方面，今日主力资金净流入3402.82万元，占比成交额9.48%。其中，超大单净流入3197.49万 元、占成交额8.9%，大单净流入205.33万元、占成交额0.57%，中单净流出流出750.03万元、占成交额 2.09%，小单净流出2652.80万元、占成交额7.39%。 天眼查商业履历信息显示，马鞍山钢铁股份有限公司，成立于1993年，位于马鞍山市，是一家以从事黑 色金属冶炼和压延加工业为主的企业。企业注册资本774693.7986万人民币，实缴资本383056万人民 币。公司法定代表人为蒋育翔。 通过天眼查大数据分析，马鞍山钢铁股份有限公司共对外投资了47家企业，参与招投标项目5000次，知 识产权方面有商标信息23条，专利信息4932条，此外企业还拥有行政许可266个。 来源：金融界 马钢股份最新一期业绩显示，截至2024三季报，公司营业总收入615.13亿 ...

Core Viewpoint - The report aims to analyze the pressure of supply-side reform quantitatively by constructing a dynamic indicator, the Profit Pressure Index, which can explain the supply-side reform at the end of 2015 and observe various industry conditions [2][4]. Group 1: Indicator Requirements - The indicator must meet two requirements: first, it should be a local peak in 2015, ideally the highest since 2000, or at least since 2011; second, it should reflect significant pressure in industries like coal, steel, non-ferrous metals, and petrochemicals in 2015 [4][14]. Group 2: Profit Pressure Index Construction - The Profit Pressure Index for an industry is calculated as the absolute value of the losses of loss-making companies divided by the sum of the absolute losses and profits of all companies in that industry. The index ranges from 0 to 1, with higher values indicating greater pressure [5][16]. Group 3: Indicator Validation - In 2015, the industrial enterprise profit pressure index was 15%, the highest since 2011 and second only to 2008, confirming it as a suitable point for supply-side reform [6][17]. - The analysis of various industries in 2015 showed that the highest profit pressure indices were in black metal smelting, non-ferrous metal smelting, and coal mining, indicating these were the most pressured sectors [7][18]. Group 4: Current Supply-Side Reform Pressure Measurement - The overall profit pressure index for A-share industrial enterprises rose to 6.7% in the first three quarters of 2024, still below the 10.5% recorded in the same period of 2015 [10][20]. - Key industries currently under pressure include power equipment, structural materials, common steel, and coal chemical industries, with the power equipment sector showing the highest profit pressure index since 2000 [11][21].

Investment Rating - The industry is rated as "Outperform the Market," indicating a positive outlook with expectations that the industry index will outperform the CSI 300 index in the next six months [21]. Core Insights - The report highlights a significant decline in the Consumer Price Index (CPI) for February, which fell by 0.7% year-on-year, marking the first negative growth since January 2024. This decline is attributed to various factors, including a high base effect from the previous year's Spring Festival [2]. - The Producer Price Index (PPI) also saw a year-on-year decrease of 2.2% in February, with production material prices dropping by 2.5%. The report suggests that the PPI decline may continue to narrow as industrial demand recovers [2]. - The report anticipates that with the implementation of consumption promotion policies, the CPI is expected to rebound, despite the current negative growth [2]. Summary by Sections Macro Research - February CPI decreased by 0.7% year-on-year, with food prices down by 3.3% and non-food prices down by 0.1%. The CPI also fell by 0.2% month-on-month [2]. - The PPI decreased by 2.2% year-on-year and 0.1% month-on-month, with significant drops in production material prices [2]. - The report notes that the industrial production is gradually recovering, and the PPI's year-on-year decline may continue to narrow [2]. Price Trends - The report provides insights into various price trends, including a notable decrease in fresh vegetable prices by 3.8% month-on-month due to warmer weather and a drop in pork prices by 1.9% [2]. - The report also mentions that prices in the new energy and artificial intelligence sectors are experiencing upward trends, with certain metal prices increasing [2].