F 钢铁及轻金属材料 综合解决方案 ha 共建钢铁生态| 共创绿色新 本月，公司聚焦重点工程用材保障，强化钢筋产品线布局，整合国内多家大型钢厂资源，优化库存结构与配送体系，确保主流规格常态化备货，快速响应客 户多样化需求： 作为西南地区钢筋全品类供应的重要力量，四川盛世钢联国际贸易有限公司经营数据监测：本月持续发挥"成都建材采买+厂家直发"双轮驱动优势，实现螺 纹钢、盘螺、盘圆、圆钢、抗震钢筋、高强钢筋等建材类产品整体出货量同比增长21%，创本年度单月新高。公司以高效、稳定、高性价比的供应能力，全 面服务川渝地区房地产、基础设施、市政工程及重点项目建设，进一步巩固在区域钢材市场的领先地位。 螺纹钢与盘螺：作为房建工程的核心用材，本月需求持续旺盛。公司提供HRB400E、HRB500E等主流牌号，产品具备强度高、延性好、焊接性能优等特 点，广泛应用于高层住宅、商业综合体、学校医院等项目。支持定尺配送、绑扎打包、工地直送，有效提升施工效率。 盘圆与圆钢：主要用于箍筋、拉杆、预埋件及小型构件加工。公司坚持小批量灵活供货策略，满足中小型施工队、加工厂的零散采购需求，本月本地客户订 单同比增长28%，服务覆盖成都主城区 ...

本月，公司进一步优化产品结构，全面升级H型钢、工字钢、槽钢、角钢、矿工钢、轨道钢、扁钢、圆钢、镀锌型材、C型钢、Z型钢、檩条等全系列型材供 应能力，以"品种全、规格齐、库存足、响应快"四大核心优势，强势赋能区域产业链降本增效，赢得广泛市场认可。 【成都讯】 在西南地区蓬勃发展的基建浪潮中，四川盛世钢联国际贸易有限公司凭借强大的供应链体系、钢材作为工业嵴梁，正持续支撑着城市更新、交 通网络与产业园区的快速崛起。作为扎根成都、服务全国的型钢全品类采买批发龙头企业，多元产品矩阵与专业化服务，持续领跑区域型材市场，成为众多 工程单位、制造企业与建筑承包商信赖的"钢材集团级合作伙伴"。 C型钢、Z型钢与檩条：轻钢结构建筑核心构件，广泛用于屋面、墙面支撑系统，公司支持按图加工、预冲孔、定长配送，大幅提升施工效率。 供应链高效运转，服务响应"快人一步" 依托成都区位物流枢纽优势，公司建立西南区域中心仓+多网点协同配送体系，常备万吨级现货库存，实现"当日下单、次日达城，周边区县48小时覆盖"的 高效交付承诺。同时，引入智能仓储管理系统，实现从订单接收到出库装运全流程数字化管控，确保每一笔订单准确、可追溯。 为提升客户体验，公 ...

Group 1 - The event "I am a shareholder, entering Lingang Co., Ltd." was organized by Huafu Securities in collaboration with the Northeast branch to enhance communication between investors and quality listed companies [1][3] - Investors visited Lingang's production facilities, gaining firsthand experience of the company's modern iron and steel production lines, which provided a deeper understanding of its operational capabilities [1] - During a discussion session, Lingang's management addressed key investor concerns regarding the company's operational status, financial performance, industry competition, environmental investments, and future strategic plans [1] Group 2 - Lingang Co., Ltd. was established in 2000 and is a state-controlled listed company located in Lingyuan City, Liaoning Province, having been listed on the Shanghai Stock Exchange in 2004 [4] - The company is the largest industrial enterprise in Chaoyang City and an important steel production base in Liaoning Province, specializing in the production and development of metallurgical products [5] - Lingang has a complete production process from sintering, ironmaking, steelmaking to rolling, with products widely used in construction, machinery manufacturing, and infrastructure, enjoying a high market reputation in the region [5] - The company focuses on a "specialized, refined, distinctive, and innovative" development path, emphasizing technological transformation and lean management to enhance product quality and operational efficiency [5] - Lingang actively practices green development, increasing environmental investments to promote energy conservation, emission reduction, and clean production for sustainable development [5]

Core Viewpoint - The event "I am a shareholder, entering Lingang Co., Ltd." organized by Huafu Securities aims to enhance communication between investors and quality listed companies, promoting rational and value-based investment concepts [1][8]. Group 1: Event Overview - The event took place on October 30, 2025, under the guidance of the Shanghai Stock Exchange, focusing on investor education and rights protection [1]. - The event included a visit to Lingang Co., Ltd.'s production facilities, allowing investors to observe modern iron and steel production processes firsthand [2]. Group 2: Management Interaction - A dialogue session featured key executives from Lingang Co., Ltd., including the board secretary and financial officer, who addressed core investor concerns regarding the company's operations, financial performance, industry competition, environmental investments, and future strategies [4]. - The management's professionalism and openness were well-received by investors, enhancing their understanding of the company's value [4]. Group 3: Trust Building - Huafu Securities presented a "I am a shareholder" commemorative cup to Lingang Co., Ltd. as a token of appreciation for the company's commitment to investor relations management [6]. - This gesture symbolizes a mutual commitment to building a harmonious and trustworthy relationship between institutions and listed companies [6]. Group 4: Company Profile - Lingang Co., Ltd., established in 2000 and listed in 2004, is a state-controlled company located in Lingyuan City, Liaoning Province, and is a major steel production base in the region [10]. - The company specializes in metallurgy products, including hot-rolled medium and wide strip steel, rebar, round steel, and welded steel pipes, with a complete production process from sintering to rolling [10]. - Lingang Co., Ltd. emphasizes technological innovation and lean management, focusing on product quality and operational efficiency while actively pursuing green development initiatives [10].

（来源：陕煤集团） 今年以来，陕钢集团紧紧围绕"稳产、降本、增效、控风险"四大核心，系统部署攻坚举措，通过优化生产组织、强化成本管控、提升经营效益、严控各类 风险等系列措施，推动生产经营持续向好。1至11月，完成粗钢产量876.17万吨，产销率101%，销量完成全年计划的93%，为全年收官奠定基础。 筑牢稳产提质基本盘 陕钢集团坚持"以销定产、以效促产"原则，动态优化生产组织模式，持续提高烧结矿入炉率，加大高性价比矿使用比例，预计年底完成105万吨带钢生 产、25万吨圆钢生产目标。扎实推进全流程能效提升、重点工序能效达标创标和碳排放管理体系建设等工作，确保年底主要工序达到能效标杆水平。严格 作业流程管控，统筹冬防期污染防治工作，全力冲刺年度目标。 激活价值创造动力源 聚焦销售端精准发力，着力缩小西安市场价格与全国均价差异，推动品种钢价格回归合理区间，优化销售结构，全力提升增效品种销量占比至48%的年度 目标。锚定中厚板品种板订单目标，持续推进高附加值产品研发推广及销售渠道拓展，预期年底完成全年100万吨中厚板销量目标。 构建高效运营共同体 今年以来，陕钢集团紧紧围绕"稳产、降本、增效、控风险"四大核心，系统部 ...

Group 1 - The stock of Fujian Sangang Minmetals Co., Ltd. increased by 6.09%, reaching a price of 4.53 CNY per share, with a trading volume of 86.05 million CNY and a turnover rate of 0.81%, resulting in a total market capitalization of 11.004 billion CNY [1] - The company, established on December 26, 2001, and listed on January 26, 2007, specializes in steel smelting, rolling, processing, and the production and sale of pressure products [1] - The main business revenue composition includes: construction materials 30.17%, purchased steel 19.81%, products 13.71%, medium plates 13.47%, round steel 11.35%, others 6.36%, and section steel 5.13% [1] Group 2 - Huashang Fund's Huashang Stable Dual Benefit Bond A (630007) entered the top ten circulating shareholders of Sangang Minmetals in the second quarter, holding 11.5376 million shares, accounting for 0.47% of circulating shares, with an estimated floating profit of approximately 2.9998 million CNY [2] - The fund was established on August 9, 2010, with a latest scale of 2.478 billion CNY, and has achieved a year-to-date return of 5.82%, ranking 500 out of 6581 in its category, and a one-year return of 7.24%, ranking 555 out of 6357 [2] - Since its inception, the fund has achieved a return of 128.18% [2] Group 3 - The fund manager of Huashang Stable Dual Benefit Bond A is Zhang Yongzhi, who has a cumulative tenure of 15 years and 84 days, with the fund's total asset size at 5.671 billion CNY [3] - During his tenure, the best fund return was 156.48%, while the worst return was -41.37% [3]

Production Capacity and Output - The production capacity of the company's Sanming base is approximately 6.27 million tons of crude steel, with main products including medium plates, round steel, and construction materials [1] - The Quanzhou base produces about 2.57 million tons of crude steel, primarily focusing on construction materials [2] - The Luoyuan base has a crude steel output of approximately 2.57 million tons, mainly producing construction materials [2] Fuel Procurement - The company has a stable supply for coke and coking coal, with long-term contracts accounting for about 66.67% of procurement [2] Capital Expenditure and Production Upgrades - The company’s capacity replacement and ultra-low emission transformation projects are nearing completion, with a planned completion date for the Quanzhou steelmaking and supporting projects by the end of October 2025 [2] - The capital expenditure plan for 2025 is set at 1.99 billion yuan, significantly reduced compared to previous years [2] Dividend Policy - The company has not distributed dividends for two consecutive years due to reported losses in 2023 and 2024, which do not meet the conditions for cash dividends [2] Mergers and Acquisitions - There are currently no plans for mergers or acquisitions, although the company is monitoring new capacity replacement management regulations that may impact the industry [2] Industry Regulations - The company acknowledges the necessity of recent policies aimed at eliminating outdated and inefficient steel production capacity, viewing them as beneficial for industry health [3][4]

Financial Performance - The company reported a net profit attributable to shareholders of -1.277 billion CNY for 2024, a decrease of 91.21% year-on-year [4] - Total revenue for 2024 was 46.058 billion CNY, down 3.93% compared to the previous year [4] - The company produced 11.41 million tons of steel in 2024, a year-on-year increase of 1.51% [4] - The company’s total assets as of December 31, 2024, were 51.646 billion CNY, with equity attributable to the parent company at 19.165 billion CNY [4] Production Capacity and Profitability - The company’s production capacity includes approximately 6.27 million tons of crude steel from the Sanming base, with a gross profit margin of 10.02% for plate products [3] - The Quanzhou and Luoyuan bases each produced about 2.57 million tons of crude steel, primarily in construction materials [3] - The gross profit margins for various products in 2024 were: - Plate: 10.02% - Construction materials: 3.56% - Round steel: 4.27% - Finished products: 3.99% - Profile steel: 2% [3] Governance and Compliance - The company plans to abolish the supervisory board by January 1, 2026, in compliance with new regulations, and will establish an audit committee within the board [2] - The adjustments aim to enhance corporate governance and improve overall efficiency [2] Capital Expenditure and Future Outlook - The company’s capital expenditures are expected to significantly decrease after 2025, as most capacity replacement and ultra-low emission transformation projects are nearing completion [4] - The company aims to optimize its asset structure and reduce financing costs, maintaining a comprehensive funding cost below 2.56% in 2024 [4] Market Presence - The company does not export products overseas, with approximately 63% of sales occurring within Fujian province and 37% in other domestic markets [3]

Core Viewpoint - The company is focusing on enhancing economic efficiency through talent development, quality improvement, and cost reduction strategies in its steel rolling process [1] Group 1: Talent Development - The company emphasizes a "talent-driven enterprise" strategy, implementing targeted training for various levels of staff to address knowledge gaps and skill deficiencies [4] - A comprehensive training system is established, including weekly lessons, monthly skill competitions, quarterly problem-solving sessions, and annual goals to support talent growth [4] - Collaboration with universities and benchmarking against advanced steel companies are part of the training approach, creating a three-dimensional cultivation chain [4] Group 2: Quality Improvement - The company adopts a "process-led, quality-first" philosophy, establishing a three-dimensional quality enhancement system focused on competence, essence, and management [6] - Quality management responsibilities are reinforced through a "one leader" accountability system, ensuring adherence to standards across all production processes [6] - A dynamic correction mechanism is implemented to improve production control and ensure compliance with mechanical properties and surface quality standards [6] Group 3: Efficiency Enhancement - The company aims to improve production efficiency and cost-effectiveness through a structured approach that includes large project leadership and small project support [8] - Both technical and managerial cost reduction strategies are pursued, focusing on key areas such as production organization and equipment support [8] - A culture of participation and cost-saving initiatives is encouraged among all employees, fostering an environment of continuous improvement [8]

股票代码：600231 转债代码：110070 股票简称：凌钢股份 转债简称：凌钢转债 编 号：临 2025-011 凌源钢铁股份有限公司 2025 年度估值提升计划 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。 重要内容提示： 一、估值提升计划的触发情形及审议程序 （一）触发情形 估值提升计划的触发情形及审议程序：自 2024 年 1 月 1 日至 2024 年 12 月 31 日，凌源钢铁股份有限公司（以下简称"公司"）股票已连续 12 个月每个 交易日收盘价均低于最近一个会计年度经审计的每股归属于上市公司股东 的净资产，根据《上市公司监管指引第 10 号——市值管理》规定，属于应 当制定估值提升计划的情形。公司第九届董事会第二十一次会议审议通过了 《凌源钢铁股份有限公司 2025 年度估值提升计划》。 估值提升计划概述: 为实现公司投资价值提升，提高股东回报能力，2025 年，公司将采取聚焦主责主业，加力提质增效；建立、健全长效激励机制； 持续加强投资者关系管理；树立回报股东意识；积极寻求并购重组机会；提 高信息披露质 ...