鞍钢股份2025中期报告

2 4 6 9 36 43 64 75 78 268 2025 2025 . . . 1. 2024 2. 2024 3. . . 1.22.1013.14.165.16.15 2623 1 ✓ 1 . 2025GDP5.3%2.8%4.6%7.5%11.2% 5.1483%4.3470.8%7.3444.6%4.525.6%(CSPI)202593.7592.0695.7313.35%13.77%13.53% 10%25%1-65.923.0%16.6% 1-65,8159.2%10.3%30216.4%2.1% . 202548,59912.35%-1,14457.46%1,216.431,279.081,203.530.30%0.53%0.52%1,202.110.08%99.88% . 1. 18878322.29%313725832711 2. 3.010212+3+1508215722039 . 3. 203024115520253802.3%9350AI+AIAI 4. 9.5%3.9%22.3%1,1162.8LNG2025 . 5. 7.5%15.2%8.8%7.2%2.2%18.29 . 4AG728+022Cr17Ni12Mo2Q500qECR4502025 40%21X80 . 8561-6812035MPaSA-537M CL.232mmX65MO559mm(ALDCK)0.234TSIEN 57441372.0%PCT224210342.6%7517443 . 48,59912.35%-1,06959.25%-1,14457.46%-0.12257.49% . 1. 2. ✓ . 3. . 3. 10% 1 ✓ . 4. (1) 20256 303,880LPR2.33%39 2025AAA (2) 20256 302,5022,48814 5. . 1. 2. ✓ . 3. . 3. ✓ 4. 2 0 2 563 00 . 9 4202412 310.94 5. 20256 30216 6. 20256 30 . 1. ✓ . 2. ✓ 3. ✓ 4. (1) . 4. . 4. . 4. (2) 1) 1. . 4. (2)1) 2. 3. 4. 5. 6. . 4. 1) ) 5. ✓ . 1. ✓ 2. ✓ . 10% ✓ . ✓ . 1.2.3.4.5. 4.5%-5%2025 . ✓ ✓ 2025 1.2.3.4.5.6. . ✓ . 202412 30202420242024202020252 2818314,180,048 . C3 . 3.10(1)3.10(2) . 3.21 20256 30 . 20256 3013.1313.19 . 20256 30 . . C120256 30 202563013.51(2)(a)(e)(g) . . 1. 202412 30202420242024202020252 2818314,180,048 2. ✓ 3. ✓ . 4.2024 20242024132 202413312,867,581153,000012,595,580153,00002024133 202411202412 31 2024 . 20256 30 20,5193,53824,05724,057– 17,0833443,9391331,1241,434 24,057 9,3367,0637,02763124,057 . 20251,2031,58013,860 +++++++++++20202025228 . 4 . 2025101,6504.2846.783,0006102,90095.6CMG . ✓ . . . ✓ . ✓ . ✓ . ✓ 11,395–––– . ✓ . ✓ . AA 1. . 1. . 1. . 1. 2. . 3. . 4. 5. ✓ . 5. 6. ✓ 7. . 8.2024 (1) 2024185 186 187 . 8.2024 (1) 188 189 202110 112022–202420238 23202110 112022–20242024202110 11 . 8.2024 (1) 2022–2024 (i)(ii)(iii)(iv) 20221 1202412 31 . 8.2024 (1)2022–2024 20221 1202412 31 189(i)(ii)(iii)(iv) . 8.2024 (1) 202110 112022–20242024202110 11 2022–2024 (i)(ii)(iii)(iv)20221 1202412 31 (i)(ii) . 8.2024 (2) 20243282024191469,300,00034.48%17.02%48.50%104.351,479,900146,710,600(i)(ii)(iii)20243 28 (3) 2024192202110112022–20242024 . 1. (1) 10% (2) (3) 202532 10% 10% . 2. ✓ 3. ✓ 4. . ✓ . ✓ . 1. 20256 30 . 1. (1) 20252 2818314,180,0486 (2) 202412302024202420242020 (3) 20252 2818314,180,048 (4) ✓ . (5) ✓ (6) 202529,383,401,3069,369,221,2589,369,221,2582024-0.7605.09 (7) . 2. . ✓ . 96,104H437 5%10 . . 10 5%1010 1010 1010 ✓ 1010 . 1.A 2.20252 28 20256 30XV352C3 . ✓ . ✓ . 20256 30336 . ✓ . ✓ . ✓ 1. 202222GN001132280095 2022 9 26 2022 9 28 2025 9 283002.85% . 1. 2. ✓ 3. ✓ 4. ✓ . .10% ✓ . . 20256 30 20256 30 20256 306 . 20256 306 . . 20256 306 20256 306 20256 30 20256 30 20256 30 20256 30 20256 306 20256 306 . 20256 306 20256 306 20256 30 20256 30 20256 30 . 19975 8 20258 26 . 20256 3012 3376200621542152023 20256 30 . 20256 3020251-6202315 . 28 1. 111231 2. 12 3. . 4. (1) (2) 20256 30 . 4. (2) 12 . 5. (1) (2) 20256 30 . 5. (2) . 6. 11(2)2 8 20256 30 . 7. 8. (1) (2) . 9. (1) 1 20256 30 . 9. (1) 1 . 9. (1) 1 20256 30 . 9. (1) 1 2 . 9. (1) 2 20256 30 . 9. (1) 3 14 12 . 9. (1) 3 3030 20256 30 . 9. (1) 3 4 5 . 9. (2) 1 20256 30 . 9. (2) 2 (3) . 9. (3) (4) 20256 30 . 9. (5) . 9. (5) 10. (1) (2) (3) 20256 30 . 10. (3) (4) (5) . 11. 9 (1) 20256 30 . 11. (1) (2) 1 . 11. (2) 2 20256 30 . 11. (2) 2 3 4 5(2) . 11. (2) 4 20256 30 . 12. (1) (2) (3) 16 . 12. (4) 13. 16 20256 30 . 14. 3 . 15. 20256 30 . 15. (2) ② . 15. (3) 16 16. 20256 30 . 17. 18. (1) . 18. (2) (3) 19. 20256 30 . 19. . 19. 20. 20256 30 . 20. 20256 30 . 20. 21. (1) 20256 30 . 21. (2) . 21. (2) (3) 22. 12 20256 30 . 22. (1) 1 2 . 22. (1) 2 3 20256 30 . 22. (1) 3 12 4 . 22. (2) (3) (4) 20256 30 . 22. (4) 23. 24. . 24. 25. (1)(2)(3) 20256 30 . 27. 28. . 28. (1) (2) 20256 30 . 28. (2) (3) (4) . 28. (5) (6) (7) 29. 20256 30 . 1. 20256 30 . 1. 2. (1)15%5 20256 30 . 2. (2)202140 (3)202443202411202712 315% 20256 30 . 20256 30620246 306 1. 15(3) 2 20256 30 . 2. 3. 20256 30 . 4. (1) (2)20256 30 20256 30 . 4. (3)1 5. (1) . 5. (1) 20256 30 . 5. (2) 20256 30 . 5. (3) (4) (5) 20256 30 . 5. (6)20256 30 20256 301,86320256 3059.85%2025630311 (7) 9854 6. (1) 20256 30 . 6. (2)20256 30 7. (1) 20256 30 . 7. (2)20256 30 20256 301,67320256 3059.88% 8. 8.1 20256 30 . 8. 20256 30 . 8. . 8. (5) 20256 30 . 8. 8.2 (6) (7)20256 30 20256 307720256 3066.96%2