Core Viewpoint - The steel industry has achieved profit margin improvement through self-discipline and cost control in the context of "anti-involution," with expectations for increased industry concentration in the future [1]. Industry Summary - The steel industry is experiencing a shift towards self-discipline and cost management, leading to profitability recovery, which is recognized as a consensus across various sectors including photovoltaic, lithium battery, and automotive industries [1]. Company Summaries - Baosteel's semi-annual report shows a revenue of 151.37 billion yuan, a year-on-year decrease of 7.3%, while net profit attributable to shareholders reached 4.88 billion yuan, an increase of 7.4%. Operating cash flow surged by 190% to 16.647 billion yuan, maintaining strong profitability and industry leadership [1]. - Baosteel's chairman emphasized a focus on mid-to-high-end products, which are expected to perform better in the market regardless of trade and tariff barriers [1]. - New Steel's semi-annual revenue was 17.512 billion yuan, down 18.33% year-on-year, but it achieved a net profit of 111 million yuan, marking a turnaround. The company has formed a special task force to enhance sales of high-end products, with significant increases in sales of hot-rolled high-end products by 97.6% and over 20% for premium steel and silicon steel [1].