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]

高管对话，深化价值认知 为深入贯彻落实资本市场人民性要求，切实维护投资者合法权益，在上海证券交易所的指导下， 华福证券 国家级投资者教育基地（以下简称"投教基地"） 联合东北分公司，于2025年10月30日开展"我是股东走进沪市上市公司 凌钢股份 （600231）"专项投教活动。本次活动旨在搭建投资者与优质上市公司之间 的深度沟通平台，引导投资者树立理性投资、价值投资理念。 实地参观，感知企业内核 投资者首先深入 凌钢股份 的生产厂区，实地观摩了现代化的炼铁、炼钢及轧钢生产线。通过零距离感受公司的生产规模、工艺流程与智能化制造水平，投 资者对 凌钢股份 作为区域钢铁骨干企业的实体运营与硬核实力有了更为直观和深刻的认识。 在随后的座谈交流环节，现场气氛热烈，互动深入。 凌钢股份 董事、副总经理、总会计师、董事会秘书由宇及证券事务代表田雪源等管理层代表，就公司 的经营状况、财务表现、行业竞争格局、环保投入、未来战略规划等投资者关切的核心问题，进行了坦诚、详尽且富有深度的解答。管理层展现出的专业素 养与开放态度，赢得了投资者的普遍认可。 颁发纪念，共筑信任桥梁 为感谢 凌钢股份 对投资者关系管理工作的高度重视与大力 ...

Core Viewpoint - The controlling shareholder of Lingyuan Steel Co., Ltd. has increased its stake in the company, signaling confidence in its future development and aiming to enhance investor trust [1][2]. Group 1: Shareholder Actions - Lingyuan Steel's controlling shareholder, Lingyuan Steel Group, has completed a stock buyback plan, acquiring 12.8953 million shares, raising its ownership to 37.46% [1]. - The group previously announced a plan to invest between 22 million and 40 million yuan in Lingyuan Steel, having already completed a prior buyback of 41.5002 million shares for 58.3362 million yuan [2]. - The repeated buybacks reflect the controlling shareholder's confidence in the company's long-term value and aim to stabilize market expectations amid cyclical pressures in the steel industry [2]. Group 2: Company Performance - Lingyuan Steel has implemented two stock repurchase plans, buying back a total of 65.052 million shares in 2024 and initiating a new plan for 2025 with a budget between 50 million and 100 million yuan [3]. - The company has reported a significant reduction in net losses, with a nearly 40% decrease year-on-year in the first three quarters of the year, and a 68.44% reduction in net losses in the third quarter compared to the same period last year [3][4]. - The company's competitive advantages include regional layout, cost control, and product structure optimization, which have contributed to improving operational conditions [4].

Group 1 - The company held its 28th meeting of the 9th Board of Directors on August 12, 2025, via telecommunication voting, with all 8 directors present [2] - The meeting approved the proposal to grant reserved restricted stock to 96 incentive objects, totaling 5.31 million shares at a price of 1.00 yuan per share [3][19] - The meeting also approved the proposal to repurchase and cancel 2.61 million shares of restricted stock from the 2024 incentive plan due to changes in the status of certain incentive objects [50][51] Group 2 - The company reported a production of 4.84 million tons of pig iron and 5.24 million tons of steel in 2024, achieving 99.75% and 96.98% of its production plans, respectively [64] - The company aims to enhance quality and efficiency in 2025, focusing on smart manufacturing and green development while improving its supply chain resilience [66] - The company has established a long-term incentive mechanism, launching a restricted stock incentive plan with a total of 4 million shares, of which 3.3 million shares were initially granted [67][68] Group 3 - The company emphasizes shareholder returns, having distributed cash dividends 21 times since its listing, totaling 1.758 billion yuan, which is 38.07% of its cumulative net profit [69] - The company plans to increase the cash dividend ratio from 10% to 30% of the net profit attributable to shareholders in the upcoming three-year shareholder return plan [69]

Core Viewpoint - The company has developed a "Quality Improvement and Efficiency Enhancement Action Plan for 2025" to promote high-quality development and enhance investment value, focusing on core business operations and risk management [2][4]. Group 1: Business Operations and Performance - The company is primarily engaged in the production and operation of metallurgical products, with key products including high-quality round steel, hot-rolled medium and wide strip steel, rebar, wire rod, and welded steel pipes [2]. - In 2023, the company achieved a steel production of 5.2367 million tons, completing 96.98% of its production plan, and improved logistics costs by 20 yuan per ton [3]. - The company has made significant progress in product quality, with its hot-rolled ribbed steel being rated as "excellent quality" in national quality assessments [3]. Group 2: Financial Management and Risk Control - The company has strengthened its financing management, with new credit lines totaling 3.754 billion yuan and a reduction in comprehensive financing costs by 1.06 percentage points to 2.72% [3]. - The proportion of medium- and long-term loans has increased to 92%, up by 11 percentage points, while the guarantee deposit ratio has decreased to 10%, down by 18 percentage points [3]. Group 3: Talent and Incentive Mechanisms - The company has initiated a restricted stock incentive plan for 2024, granting up to 5.31 million shares to 102 employees, representing 1.42% of the total workforce [5]. - The plan aims to attract and retain talent, which is crucial for enhancing the company's core competitiveness [4]. Group 4: Shareholder Returns and Communication - The company has a history of cash dividends, with a total of 1.758 billion yuan distributed over 21 occasions, representing 38.07% of cumulative net profits [5]. - A new shareholder return plan for 2024-2026 has been established, increasing the cash dividend ratio to at least 20% of the net profit attributable to shareholders [5]. Group 5: Innovation and R&D - The company has focused on innovation, with R&D investment reaching 427 million yuan, accounting for 2.36% of revenue, and has developed 46 new products in 2024 [6]. - The company aims to develop over 100 new product varieties by 2025, enhancing its technological capabilities and product offerings [6]. Group 6: Governance and Compliance - The company has improved its governance structure, aligning with new regulations and enhancing transparency in information disclosure [9]. - A comprehensive evaluation and compensation management system for executives has been established to ensure accountability and performance alignment [10].

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 ...