Core Viewpoint - Shanghai Steel Union (300226) reported significant revenue from its industrial data services and steel trading services, indicating strong performance in these sectors [1] Group 1: Industrial Data Services - The industrial data services segment achieved a revenue of 36,644.20 million yuan in the first half of 2025 [1] - Revenue from data subscription services amounted to 22,538.44 million yuan, representing 61.5% of the total revenue for this segment [1] Group 2: Steel Trading Services - The steel trading service, operated through the Steel Silver E-commerce platform, recorded a settlement volume of 25,521.4 thousand tons [1]

Group 1 - Shanghai Steel Union's stock price increased by 2.05% to 24.35 CNY per share, with a trading volume of 131 million CNY and a turnover rate of 1.77%, resulting in a total market capitalization of 7.761 billion CNY [1] - Year-to-date, Shanghai Steel Union's stock price has risen by 6.70%, with a 1.88% increase over the last five trading days, a 1.34% decrease over the last 20 days, and a 6.45% decline over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on July 14, where it recorded a net buy of -154 million CNY [1] Group 2 - Shanghai Steel Union, established on April 30, 2000, and listed on June 8, 2011, primarily engages in B2B e-commerce services related to steel, energy, mining, and non-ferrous metals [2] - The company's revenue composition includes 97.29% from supply chain services, 1.56% from consignment services, 0.66% from data subscription services, and smaller percentages from other services [2] - As of September 30, 2025, Shanghai Steel Union reported a revenue of 57.318 billion CNY, a year-on-year decrease of 10.65%, while net profit attributable to shareholders was 168 million CNY, reflecting a year-on-year increase of 31.78% [2] Group 3 - Since its A-share listing, Shanghai Steel Union has distributed a total of 151 million CNY in dividends, with 63.136 million CNY distributed over the past three years [3] - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 4.6887 million shares, an increase of 2.7197 million shares from the previous period [3] - The Southern CSI 1000 ETF and Huaxia CSI 1000 ETF are among the top ten circulating shareholders, with the former holding 2.3309 million shares (a decrease of 17,900 shares) and the latter being a new entrant with 1.3859 million shares [3]

Core Viewpoint - The company is focusing on diversifying its business beyond the steel industry, despite the current challenges in the steel sector, and is seeing growth in its data service revenue from non-steel industries [1][2]. Group 1: Business Segments - The company's main business is divided into industrial data services and steel trading services [2]. - The industrial data services have expanded from black metals to include non-ferrous metals, energy chemicals, construction materials, agricultural products, new energy, new materials, and renewable resources [1]. - In 2024, the revenue from data subscription services is expected to grow by 4.82% year-on-year, indicating a continuous increase in data service business from non-steel industries [1]. Group 2: Market Strategy - The company emphasizes the importance of market value management and is implementing various measures to enhance its value [1]. - Strategies include technological innovation, digital transformation, and expansion into overseas markets to strengthen core competitiveness and drive business growth [1]. - Future investments will focus on AI technology, integrating it with data, knowledge, research, and technology to create comprehensive solutions and enhance market recognition of the company's value [1].