公募基金方面，本期较上一期持股增加的公募基金共计2个，包括国泰中证军工ETF、南方中证 1000ETF，持股增加占比达0.29%。本期较上一季度新披露的公募基金共计3个，包括富国中证军工龙头 ETF、华夏中证1000ETF、人保中证A500指数增强A。本期较上一季未再披露的公募基金共计2个，包括 国泰中证钢铁ETF、国联安红利混合。 2025年8月26日，抚顺特钢(600399.SH)发布2025年半年度报告。截至2025年8月25日，共有11个机构投 资者披露持有抚顺特钢A股股份，合计持股量达7.16亿股，占抚顺特钢总股本的36.33%。其中，前十大 机构投资者包括江苏沙钢集团有限公司、东北特殊钢集团股份有限公司、香港中央结算有限公司、中国 建设银行股份有限公司-富国中证军工龙头交易型开放式指数证券投资基金、中国建设银行股份有限公 司-国泰中证军工交易型开放式指数证券投资基金、招商银行股份有限公司-南方中证1000交易型开放式 指数证券投资基金、宁波梅山保税港区锦程沙洲股权投资有限公司、中国国际金融股份有限公司、中国 建设银行股份有限公司-前海开源公用事业行业股票型证券投资基金、招商银行股份公司-华夏中证1 ...

Group 1 - The core point of the article highlights that Baosteel Co., Ltd. (包钢股份) experienced a significant stock price increase of 9.93%, closing at 2.99 yuan on August 25, 2025, with a trading volume of 21.22 million hands and a transaction amount of 6.196 billion yuan [1] - The company operates in the steel industry, focusing on mineral resource development and the production and sales of steel products, with key resources including the Baiyun Obo mine and a product range that includes rare earth concentrates and steel products [1] - Recent regulatory changes, specifically the interim measures for the total quantity control management of rare earth mining and separation released by the Ministry of Industry and Information Technology and other departments, are expected to impact the rare earth industry [1] Group 2 - The expectation of a Federal Reserve interest rate cut has provided support to the non-ferrous metal sector, which includes companies like Baosteel [1] - On August 25, Baosteel saw a net inflow of 1.9 billion yuan in main funds, accounting for 2.03% of its circulating market value, with a cumulative net inflow of 2.397 billion yuan over the past five trading days, representing 2.56% of its circulating market value [1]

Group 1 - Baosteel Co., Ltd. closed at 7.16 yuan on August 20, with an increase of 0.70% compared to the previous trading day [1] - The trading volume for the day was 676,378 hands, with a transaction amount of 482 million yuan [1] - Baosteel is a leading steel manufacturing company in China, primarily engaged in the production and sales of steel products [1] Group 2 - The company's products are widely used in various industries, including automotive, home appliances, machinery manufacturing, and energy transportation [1] - Baosteel announced that it will hold a 2025 semi-annual performance briefing on August 29 from 15:00 to 17:00 [1] - Market participants expect the briefing to disclose the company's operating conditions for the first half of the year and future development plans [1]

Group 1 - The stock price of Maanshan Iron & Steel Company (马钢股份) on August 20 was 3.80 yuan, down 0.01 yuan or 0.26% from the previous trading day, with a trading volume of 817,301 hands and a transaction amount of 310 million yuan [1] - Maanshan Iron & Steel operates in the steel industry, primarily engaged in the production and sales of steel products, which are widely used in construction and machinery manufacturing [1] - The U.S. Department of Commerce announced on August 15 that 407 categories of steel and aluminum derivative products would be included in the tariff list, imposing a 50% tariff on these products; however, data shows that in the first half of 2025, China's steel exports to the U.S. will only account for 0.7% of total exports, indicating limited direct impact on domestic steel companies [1] Group 2 - Maanshan Iron & Steel recently indicated in its performance forecast that it has reduced its losses in the first half of the year [1] - On August 20, the net outflow of main funds for Maanshan Iron & Steel was 13.8779 million yuan, accounting for 0.06% of its circulating market value; over the past five days, the net outflow of main funds totaled 161.9163 million yuan, representing 0.71% of its circulating market value [1]

中国东方集团(00581)发布公告，本集团预期于截至2025年6月30日止6个月将取得不少于人民币2.20亿元 的净溢利，与本集团截至2024年6月30日止6个月约人民币1.23亿元的净溢利相比，将取得不少于70%的 增幅。 公告称，在相关期间本集团的净溢利的预期增加乃主要归因于以下因素的综合影响，其中包括，主要原 材料价格回落，其价格下降趋势快于钢铁产品价格下降趋势;及本集团持续全面推进精益管理策略，包 括降本增效及优化采购管理等，从而令吨钢的整体成本下降所致。 ...

Core Viewpoint - China Oriental Group (00581) expects to achieve a net profit of no less than RMB 220 million for the six months ending June 30, 2025, representing an increase of at least 70% compared to the net profit of approximately RMB 123 million for the six months ending June 30, 2024 [1] Summary by Relevant Categories Financial Performance - The anticipated net profit increase is primarily attributed to a combination of factors, including a decline in the prices of major raw materials, which is decreasing at a faster rate than the decline in steel product prices [1] - The company is implementing a comprehensive lean management strategy, which includes cost reduction and efficiency improvement measures, as well as optimizing procurement management, leading to a decrease in overall cost per ton of steel [1]

Group 1 - Trump's executive order on August 6, 2025, imposed a 25% tariff on Indian oil imports from Russia, raising the total tariff to 50%, which is expected to reduce India's exports to the US by 80% [1][4][8] - India's exports to the US account for approximately 17% of its total exports, leading to significant economic pressure on Indian businesses and employment [1][4] - The Indian government is facing challenges as it attempts to balance its energy security needs with the economic impact of the tariffs, emphasizing the importance of continuing to purchase Russian oil [3][8] Group 2 - Modi's government is implementing tax reforms to stimulate the economy in response to the tariffs, but these measures are seen as temporary solutions [3][4] - The geopolitical dynamics are shifting, with China continuing to import Russian oil significantly, while India feels isolated due to the US's selective enforcement of tariffs [4][8] - The Indian economy is projected to suffer a loss of over a hundred billion dollars in exports due to the tariffs, exacerbating the trade deficit [4][8] Group 3 - The response from China and Russia indicates a strengthening of their energy alliance, with Russia prioritizing oil exports to China, further sidelining India [3][6] - India's attempts to collaborate with South Korea on steel production are limited in scale compared to its needs, highlighting the challenges it faces in diversifying its trade partnerships [6][8] - The overall sentiment is that India's position in the global trade landscape is becoming increasingly precarious, necessitating a reevaluation of its foreign relations strategy [6][10]

然而，加拿大政府对此次事件的反应令人玩味。13日，加拿大官员发表联合声明，表示对中国的决定"深感失望"，但 同时愿意与中方展开谈判以解决贸易争端。加方还重申，他们准备与中国官员开展建设性的对话，并进行相应领域的 磋商。可是，加拿大国内官员在接受媒体采访时，却多次流露出一种暗示，认为此时是一个特殊的时期，加拿大与美 国正处于关税谈判的关键阶段，必须从整个局势出发，不能轻易取消对中国电动汽车的关税。现阶段，贸易谈判显得 极为困难，因此并不排除中国可能会采取更为严厉的应对措施。 分析人士指出，透过这些事件，可以看出加拿大在国际事务中受到了美国的影响，尤其在对华政策的制定上，其部分 决策受到美国战略导向的干扰。此前，加拿大先后对中国的电动汽车和钢铝产品征收关税，中方随即对加拿大油菜籽 发起了反倾销调查。这一系列的贸易摩擦，背后隐含着相当复杂的地缘政治背景。加拿大政府似乎未能充分评估中方 在去年的某个时刻，欧盟国家针对中国出口的电动汽车采取了加征关税的措施。紧接着，加拿大也采取了类似的行 动，对从中国进口的电动汽车展开了征税。面对这种局面，中国方面表示了严重不满，并在警告无果的情况下启动了 对加拿大油菜籽的反倾销调查， ...

截至2025年8月15日收盘，华菱钢铁股价报5.59元，与前一交易日持平。当日成交量为751476手，成交 金额达4.20亿元。 风险提示：投资有风险，入市需谨慎。 华菱钢铁属于钢铁行业板块，公司主要从事钢铁产品的生产和销售业务。公司持续加强余热、余压、余 能等二次能源的综合回收利用，自发电比例处于行业先进水平。 公司近期在互动平台表示，今年上半年完成自发电量49.22亿度，同比增加1.63亿度，增幅3.4%。公司 专注于做精做强钢铁主业，追求稳健经营和持续提升主业竞争力，原则上不直接开展证券投资或财务性 投资。 资金流向方面，华菱钢铁当日主力资金净流出827.87万元，占流通市值的0.02%。近五日主力资金累计 净流出8646.60万元，占流通市值的0.22%。 ...

Core Viewpoint - Baosteel Co., Ltd. has experienced a decline in stock price and significant net outflow of funds, indicating potential challenges in the market environment [1] Company Overview - Baosteel Co., Ltd. is primarily engaged in the production and sales of steel products, covering the entire industry chain of the metallurgical sector [1] - The controlling shareholder is Baotou Iron and Steel (Group) Co., Ltd., with the actual controller being the State-owned Assets Supervision and Administration Commission of Inner Mongolia Autonomous Region [1] - The company's revenue is entirely derived from the metallurgical industry, as reported in the 2024 annual report [1] Stock Performance - As of August 12, 2025, Baosteel's stock price closed at 2.51 yuan, down by 0.06 yuan, representing a decline of 2.33% from the previous trading day [1] - The trading volume on that day was 102.39 million shares, with a total transaction value of 2.575 billion yuan [1] Share Pledge and Financials - On August 12, Baosteel announced that its controlling shareholder, Baosteel Group, released 555 million shares from pledge on August 11, which accounts for 2.21% of its holdings [1] - After this release, Baosteel Group still has 7.16 billion shares pledged, representing 28.55% of its total holdings [1] - In the first quarter of 2025, the company reported revenue of 15.433 billion yuan and a net profit attributable to shareholders of 44.96 million yuan [1] Fund Flow - On August 12, there was a net outflow of 450 million yuan in main funds, which is 0.57% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow reached 917 million yuan, accounting for 1.16% of the circulating market value [1]