Core Viewpoint - Shanghai Steel Union (SZ300226) reached its daily limit up on January 21, 2026, with a price of 32.96 yuan, an increase of 18.67%, and a total market capitalization of 10.39 billion yuan [1] Group 1: Company Performance - The company recently reduced the interest rate on several related loans from 3.5% to 3%, saving over 350,000 yuan in annual interest, optimizing its capital usage costs [2] - A subsidiary received a government subsidy of 26.12 million yuan, accounting for 16.19% of net profit, which has already been received in cash, enhancing the company's profitability [2] - Despite a 10.65% year-on-year decline in revenue reported in the Q3 2025 financial report, net profit increased by 31.78%, indicating positive financial performance [2] Group 2: Industry Position - Shanghai Steel Union is the first large commodity data service provider in China to be certified by the International Organization of Securities Commissions (IOSCO), with its price indices for iron ore, coking coal, and steel having passed certification [2] - The company's "Steel Price Index Compilation Guidelines" has been included in the "Shanghai Standards," reflecting high standards in data collection and pricing methods, and it has won the "Shanghai Quality Gold Award" for its innovative model, establishing its leading position in the industry [2] - The market for bulk commodity data services and steel e-commerce trading shows potential for development, making Shanghai Steel Union an attractive option for investors when related concepts gain attention [2]

Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 34.391 billion yuan and a net profit attributable to shareholders of 118 million yuan, representing a year-on-year increase of 41.07% [1] - The basic earnings per share reached 0.3717 yuan, up 42.47% year-on-year, indicating strong profitability despite a challenging macroeconomic environment [1] - As of June 30, 2025, total assets amounted to 22.901 billion yuan, and net assets attributable to shareholders were 2.107 billion yuan, reflecting growth of 5.06% and 6.03% respectively compared to the end of the previous year [1] Group 2: Data Services - The company provides multi-dimensional data services across eight major industries, including black and non-ferrous metals, energy, and new materials, focusing on price as a core element [2] - The company has made significant advancements in data quality control and has implemented a standardized management system to ensure data objectivity and authority [2] - The introduction of AI technology, particularly the "Xiao Gang Digital Intelligent Assistant," has improved decision-making efficiency for clients [2] Group 3: International Cooperation and Market Expansion - The data services segment generated revenue of 366 million yuan, with overseas service revenue increasing by 9.7% year-on-year, indicating successful global expansion [3] - A memorandum of understanding was signed with Argus to jointly publish a mixed index for iron ore, enhancing the influence of "Chinese prices" in the market [3] Group 4: Steel Trading Services - The steel trading platform, Steel Silver E-commerce, reported a net profit of 152 million yuan, a year-on-year increase of 47.13%, demonstrating strong operational health [4] - The platform's transaction volume reached 25.5214 million tons, showcasing effective resource integration and service enhancement [4] - The platform received multiple industry accolades, reinforcing its leading position in the market [4] Group 5: Strategic Outlook - The company is focused on deepening its digitalization and standardization efforts in the bulk commodity industry, positioning itself as a key player in the supply chain [5] - Analysts suggest that despite short-term revenue fluctuations, the company's long-term value in data services and international pricing remains strong [5] - The company is expected to benefit from ongoing trends in data marketization and digital transformation in manufacturing [6]