登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 三、业绩变动原因说明 2025年，钢铁行业结构优化纵深推进、效益修复有所改善，铸管市场需求进入平台期，虽供需矛盾突 出，但城市更新、地下综合管网改造支撑差异化产品需求。报告期内，面对行业发展机遇与复杂市场变 化并存的格局，公司以"质量效益再提升"专项行动为抓手，通过加大拓市增收力度、优化产品结构、强 化成本管控等有力举措，实现公司全年金属产品量、利润总额等核心指标同比大幅增长。 四、风险提示 本业绩预告为公司财务部门的初步测算结果，具体财务数据将在公司2025年度报告中详细披露。敬请广 大投资者谨慎决策，注意投资风险。 特此公告 一、本期业绩预计情况 1、业绩预告期间：2025年1月1日至2025年12月31日 2、业绩预告情况：预计净利润为正值且属于同向上升50%以上情形 ■ 二、与会计师事务所沟通情况 本次业绩预告未经会计师事务所审计。公司与会计师事务所就业绩预告有关事项进行了预沟通，双方在 业绩预告方面不存在分歧，具体数据以审计结果为准。 新兴铸管股份有限公 ...

2025年，钢铁行业结构优化纵深推进、效益修复有所改善，铸管市场需求进入平台期，虽供需矛盾突 出，但城市更新、地下综合管网改造支撑差异化产品需求。报告期内，面对行业发展机遇与复杂市场变 化并存的格局，公司以"质量效益再提升"专项行动为抓手，通过加大拓市增收力度、优化产品结构、强 化成本管控等有力举措，实现公司全年金属产品量、利润总额等核心指标同比大幅增长。 格隆汇1月29日丨新兴铸管(000778.SZ)发布2025年度业绩预告，报告期内，归属于上市公司股东的净利 润7.83亿元—11.74亿元，同比增长367.51%—601.26%；扣除非经常性损益后的净利润5.95亿元—8.92亿 元，比上年同期由负转正；基本每股收益0.1974元/股—0.2961元/股。 ...

（记者 王晓波） 每经AI快讯，新兴铸管1月29日晚间发布业绩预告，预计2025年归属于上市公司股东的净利润约7.83亿 元~11.74亿元，同比增长367.51%~601.26%；基本每股收益0.1974元~0.2961元。业绩变动主要原因是， 2025年，钢铁行业结构优化纵深推进、效益修复有所改善，铸管市场需求进入平台期，虽供需矛盾突 出，但城市更新、地下综合管网改造支撑差异化产品需求。报告期内，面对行业发展机遇与复杂市场变 化并存的格局，公司以"质量效益再提升"专项行动为抓手，通过加大拓市增收力度、优化产品结构、强 化成本管控等有力举措，实现公司全年金属产品量、利润总额等核心指标同比大幅增长。 每经头条（nbdtoutiao）——水贝黄金平台"杰我睿"兑付危机调查：40倍杠杆对赌，金价越涨平台越 亏！老板自称"还在深圳"，投资者：兑付方案本金打两折，无法接受 ...

南财智讯1月29日电，新兴铸管发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 78280.65万元—117420.98万元，同比预增367.51%—601.26%；预计2025年全年归属于上市公司股东的 扣除非经常性损益的净利润为59470.31万元—89205.46万元。2025年，钢铁行业结构优化纵深推进、效 益修复有所改善，铸管市场需求进入平台期，虽供需矛盾突出，但城市更新、地下综合管网改造支撑差 异化产品需求。报告期内，面对行业发展机遇与复杂市场变化并存的格局，公司以"质量效益再提升"专 项行动为抓手，通过加大拓市增收力度、优化产品结构、强化成本管控等有力举措，实现公司全年金属 产品量、利润总额等核心指标同比大幅增长。 ...

Core Viewpoint - International Industry (000159) is conducting its first refinancing after a change in ownership, planning to raise up to 662 million yuan through a private placement to its controlling shareholder, Xinjiang Rongneng Investment Development Co., Ltd, entirely for replenishing working capital [2][5]. Group 1: Financing Details - The company intends to issue no more than 144 million shares at a price of 4.59 yuan per share, with the total fundraising amount approximately 662 million yuan [5]. - Xinjiang Rongneng's funding sources for the subscription include 61.9 million yuan of its own funds and 600 million yuan of self-raised funds, primarily through stock pledge loans and bank loans [4][9]. - Xinjiang Rongneng currently has a share pledge rate of 70%, with total pledge financing amounting to 240 million yuan [9]. Group 2: Historical Context - Previous attempts for private placements to the controlling shareholder have failed, including a plan in 2022 to raise 963 million yuan, which was ultimately abandoned when the controlling shareholder withdrew [6][8]. - The company had also planned a 665 million yuan private placement in 2024, which also did not materialize [8]. Group 3: Financial Performance - The company's financial performance has been unstable, with significant losses reported in 2024 amounting to 439 million yuan, and only a slight profit of 20 million yuan in the first three quarters of 2025 [4][13]. - Revenue figures from 2022 to 2025 show fluctuations, with a peak of 4.514 billion yuan in 2023 and a drop to 1.302 billion yuan in the first nine months of 2025, reflecting a year-on-year decline of 46.47% [13]. - The company has not distributed cash dividends in the past four years, indicating potential liquidity issues [4]. Group 4: Operational Challenges - The company faces high accounts receivable, which increased from approximately 249 million yuan in 2022 to 639 million yuan by September 2025, raising concerns about potential bad debt [13][14]. - Prepaid accounts have also remained high, with values around 290 million yuan to 301 million yuan, previously leading to legal disputes over uncollectible amounts [14]. - The company operates in a competitive market, particularly in the photovoltaic and transmission tower sectors, which may impact its market share and profitability if it fails to innovate [12].

Group 1 - The company reported an increase in inventory of approximately 600 million yuan in the third quarter, primarily due to the growth in raw materials and in-process inventory for hazardous waste resource projects [2] - The company provided information regarding the production of metal products, which can be found in the relevant announcements disclosed by the company [2]

Core Insights - The Brazilian Commodity Index (IC-Br) decreased by 0.26% in October, marking a 0.74% decline over the past 12 months [1] Group 1: Index Performance - The IC-Br index is based on the prices of agricultural products, metal commodities, and energy bulk commodities [1] - In October, the agricultural subgroup fell by 2.2%, while the metal products subgroup increased by 7.15%, and the energy bulk commodities subgroup decreased by 0.16% [1]

Core Viewpoint - The U.S. Supreme Court will review the legality of tariffs imposed by the Trump administration, with oral arguments scheduled for the first week of November, while the administration is quietly adjusting its tariff policies [1][2]. Tariff Exemptions and Adjustments - The Trump administration has recently exempted dozens of products from tariffs and proposed hundreds of tariff exemptions in trade negotiations with various countries [2][4]. - The administration's shift reflects a growing sentiment among officials that the U.S. should lower tariffs on non-domestically produced goods, with a focus on avoiding legal risks associated with potential Supreme Court rulings [4][10]. - A new list of exemptions, known as "Annex II," includes products ranging from gold to LED lights, as well as certain minerals and chemicals affected by Section 232 tariffs [4][5]. Future Tariff Exemptions - The administration has indicated that hundreds of products may be exempt from tariffs in future trade agreements, particularly those that cannot be produced domestically [8]. - New powers have been granted to the U.S. Department of Commerce and the U.S. Trade Representative to issue tariff exemptions without requiring direct presidential orders, streamlining the process [8]. Economic Impact of Tariffs - Estimates suggest that tariffs implemented by the Trump administration could lead to a 1.7% increase in price levels by 2025, equating to a loss of approximately $2,400 in average household income [8][9]. - Specific sectors, such as leather and apparel, are projected to experience significant price increases, with leather products expected to rise by 36% and clothing by 34% in the short term [9]. Legal Strategy and Tariff Expansion - The Trump administration is expanding its use of Section 232 of the Trade Expansion Act of 1962, recently imposing a 25% tariff on heavy trucks and a 10% tariff on buses, effective November 1 [10]. - This strategy aims to encourage domestic manufacturing and is seen as a more legally robust approach compared to previous tariff measures [10][11]. - Legal experts note that the authority granted under Section 232 is more difficult to challenge than other legal bases for tariffs, allowing for broader application [11].

Company Overview - Reliance is a metal service center company focused on processing and distribution of metals, founded in Los Angeles in 1939, with over 85 years of experience [1] - The company operates approximately 320 locations, primarily in the U.S. and North America, with some international presence [1] - Reliance has diversified its offerings, selling over 100,000 metal products to more than 125,000 customers [1] Business Strategy - The company employs a decentralized operational model, often through acquisitions, while maintaining the brand names of acquired companies [1] - Reliance believes in the value of the companies it acquires and differentiates itself from larger service center companies through its focus on diversification [1]

Group 1 - Brazil has initiated procedures under the Economic Equivalence Law in response to the 50% tariffs imposed by the U.S. on Brazilian exports, with President Lula stating that while Brazil is preparing countermeasures, it is not in a hurry to retaliate and prefers negotiation to resolve the dispute [1][2] - The U.S. currently imposes a 40% tariff on Brazilian products, with many facing rates as high as 50%, including meat, coffee, and fruits, while certain products like aircraft, nuts, orange juice, and some metals are exempt [2] - Brazil's Foreign Trade Council can impose countermeasures such as taxing imports from countries that negatively impact Brazil's international competitiveness due to unilateral actions [2] Group 2 - President Lula criticized the U.S. for a lack of seriousness in bilateral relations, noting that Brazil has not been able to engage in dialogue with U.S. officials, and expressed willingness to negotiate but will not beg for a meeting [3] - Mexico is pushing for a complementary trade agreement with Brazil, with plans to sign a supplementary trade agreement by August next year, indicating a strengthening of trade relations between the two countries [4] - Bilateral trade between Brazil and Mexico is projected to grow from $10 billion in 2019 to over $13.5 billion by 2024, marking a 35% increase, particularly in the automotive and agricultural sectors [5]