证券日报网讯 1月15日，宝钢股份发布公告称，德勤华永会计师事务所（特殊普通合伙）（以下简 称"德勤华永"）作为公司2025年度财务报告和内部控制审计的审计机构，原指派倪敏先生为质量控制复 核人，为公司提供审计服务。现因倪敏先生工作调整，德勤华永指派徐斌先生接替倪敏先生作为公司 2025年度审计项目的质量控制复核人，继续完成公司2025年度财务报告审计和内部控制审计相关工作。 变更后公司2025年度财务报告审计和内部控制审计质量控制复核人为徐斌先生。 （文章来源：证券日报） ...

宝山钢铁股份有限公司 关于变更审计质量控制复核人的公告 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。 公司于2025年9月28日召开宝钢股份第九届董事会第三次会议， 审议通过《关于聘请德勤华永会计师事务所为 2025 年度独立会计师 及内控审计师的议案》，同意聘请德勤华永会计师事务所（特殊普通 合伙）（以下简称"德勤华永"）为公司 2025 年度独立会计师和内控 审计师，并同意将该项议案提交股东会审议。公司于 2025 年 11 月 13 日召开宝钢股份 2025 年第四次临时股东会，审议批准了该项议案。 具体内容详见公司于 2025 年 9 月 29 日、2025 年 11 月 14 日在上海证 券交易所网站（http://www.sse.com.cn）发布的临 2025-054、临 2025-055、临 2025-060 公告。 近日，公司收到德勤华永出具的《关于变更宝山钢铁股份有限公 司 2025 年度审计质量控制复核人的函》，德勤华永根据审计项目安排， 将 2025 年度审计项目的质量控制复核人由倪敏先生变更为徐斌先 ...

Core Viewpoint - The 2025 China Enterprise ESG "Golden Responsibility Award" aims to recognize companies that have made significant contributions to ESG (Environmental, Social, and Governance) practices, promoting sustainable development in China [1][4]. Group 1: ESG Services and Initiatives - Sina Finance ESG Rating Center offers 14 ESG services, including information, reports, training, and consulting, to help listed companies promote ESG concepts and enhance their sustainable development performance [1][4]. - In 2025, many quality enterprises in China are actively practicing their responsibilities in environmental, social, and governance areas, while domestic financial institutions are steadily advancing in ESG responsible investment [1][4]. Group 2: Award Selection and Winners - The 2025 China Enterprise ESG "Golden Responsibility Award" attracted over 5,000 participating companies since its launch in November, with winners selected based on comprehensive ESG performance, professional scoring, and online voting results [1][5]. - The winners of the 2025 China Enterprise ESG "Golden Responsibility Award" for the Annual Sustainable Development Award include China General Nuclear Power, Sungrow Power Supply, Kweichow Moutai, CATL, Zijin Mining, Hikvision, Yili, Baosteel, Chint Electric, and China Mobile [2][5]. Group 3: ESG Rating Center Overview - The Sina Finance ESG Rating Center is the first Chinese ESG professional information and rating aggregation platform, dedicated to promoting sustainable development and responsible investment [3][6]. - The center aims to establish ESG evaluation standards suitable for China's characteristics and enhance corporate ratings, while also launching multiple ESG innovation indices for investors [3][6].

Group 1 - The city of Zhanjiang has implemented 2,367 major provincial and municipal projects over the past five years, with a total investment of 440 billion yuan, ranking first in the Guangdong East-West North region [1] - By 2025, Zhanjiang's industrial added value is expected to exceed 100 billion yuan [1] - During the "14th Five-Year Plan" period, Zhanjiang has established a leading industrial system focused on "four greens and one blue," including green steel, green petrochemicals, green energy, green food, and blue ocean economy [1] Group 2 - The green steel industry, led by Baosteel Zhanjiang Iron and Steel Company, has an annual output value exceeding 60 billion yuan, making it the largest steel production base in Guangdong Province [2] - The green petrochemical industry has developed a complete industrial chain including crude oil extraction, refining, and both basic and fine chemicals, with an annual output value exceeding 120 billion yuan, positioning it among the top five petrochemical bases in the province [2]

Industry Outlook - Morgan Stanley projects that the MSCI China Materials Index will outperform the MSCI China Index by 65 percentage points in 2025, driven by supply dynamics [1] - The firm expects continued outperformance in 2026 due to supply disruptions and further M&A activities [1] - The demand growth for basic metals in China is anticipated to slow and stabilize, with copper and aluminum demand growth rates expected to be 2.5% and 1.5% respectively [2] Company Ratings and Forecasts - China Hongqiao's rating is maintained at "Overweight," with the target price raised from HKD 34 to HKD 40, citing its integrated model as a cost advantage [1][3] - Zijin Mining is highlighted as a top pick for 2026 due to its exposure to copper and gold [3] - Jiangxi Copper's rating is upgraded to "Neutral," despite a recent stock price increase of over 40% [3] - Baosteel's rating is downgraded to "Neutral," while Angang Steel's rating is downgraded to "Underweight" due to expected declines in steel profit margins [3] Supply Chain Dynamics - Supply disruptions are ongoing, with South32 scheduled maintenance at the Mozal aluminum smelter in March 2026 and a strike at Capstone Copper's Mantoverde copper-gold mine expected to reduce copper supply by 77,000 tons [1][2] - Zijin Mining has issued a positive profit forecast, expecting a net profit of RMB 51-52 billion for 2025, representing a year-on-year growth of 59-62% [1] M&A Activities - Industry consolidation is advancing, with notable acquisitions such as Luoyang Molybdenum's purchase of Brazilian gold assets and Jiangxi Copper's acquisition of SolGold [1]

Industry Outlook - Morgan Stanley projects that the MSCI China Materials Index will outperform the MSCI China Index by 65 percentage points in 2025, driven by supply dynamics [1] - The index is expected to continue its outperformance in 2026 due to supply disruptions and increased merger activities [1] - The preference order for the Chinese basic materials industry in 2026 is copper/gold, aluminum, lithium, coal, and steel [3] Company Performance - China Hongqiao's rating is maintained at "Overweight," with the target price raised from HKD 34 to HKD 40, citing its integrated model as a cost advantage [1][4] - Zijin Mining is highlighted as a top pick for 2026 due to its exposure to copper and gold [4] - Jiangxi Copper's rating is upgraded to "Neutral," despite a recent stock price increase of over 40% [4] - Baosteel's rating is downgraded to "Neutral," while Angang Steel's rating is downgraded to "Underweight" due to expected declines in steel profit margins [4] Supply Chain Dynamics - Ongoing supply disruptions include maintenance at South32's Mozal aluminum smelter and a strike at Capstone Copper's Mantoverde copper-gold mine, which is expected to reduce copper supply by 77,000 tons [2] - The lithium market is anticipated to tighten due to strong energy storage demand, with more supply expected to come online in the second half of the year [3]

Market Overview - On January 14, the general steel sector experienced a decline of 0.2% compared to the previous trading day, with Lingang Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] Individual Stock Performance - Hangang Co., Ltd. saw a significant increase in its stock price, closing at 65.6 with a rise of 8.12%, and a trading volume of 2.91 million shares, amounting to 2.772 billion yuan [1] - Other notable performers included Jiugang Hongxing, which rose by 3.74% to close at 1.94, and Xinxing Ductile Iron Pipes, which increased by 2.83% to close at 4.36 [1] - Conversely, Lingang Co., Ltd. closed at 2.11, down 2.76%, with a trading volume of 402,500 shares and a transaction value of 86.302 million yuan [2] Capital Flow Analysis - The general steel sector saw a net inflow of 278 million yuan from main funds, while retail investors experienced a net outflow of 227 million yuan [2] - The main funds showed significant net inflows in stocks like Hangang Co., Ltd. (495.1 million yuan) and Xinxing Ductile Iron Pipes (49.14 million yuan) [3] - Retail investors had notable outflows in stocks such as Hangang Co., Ltd. (-263 million yuan) and Xinxing Ductile Iron Pipes (-45.12 million yuan) [3]

Core Insights - The core focus of the articles is on Baosteel's collaboration with Huawei to implement AI technologies in the steel production process, particularly in blast furnace operations, to enhance efficiency and reduce costs [2][3][4]. Group 1: AI Implementation in Steel Production - Baosteel's blast furnace accounts for approximately 70% of production costs, making its stable operation crucial for profitability [2]. - The introduction of AI technology aims to address challenges such as unclear furnace conditions and slow operational feedback, transforming expert experience into data-driven solutions [2][3]. - The AI model developed has achieved a 90% accuracy rate in predicting key indicators like furnace temperature, leading to reduced fuel consumption and improved iron quality [3]. Group 2: Model Development and Optimization - The AI model is based on Huawei's Pangu model, which integrates general knowledge with specific characteristics of blast furnace operations [3]. - Baosteel has implemented a "pre-trained base + downstream task fine-tuning" approach to shorten the model development cycle for different furnaces [3]. - A closed-loop system has been established for continuous learning and optimization, allowing the model to adapt and improve based on new data [3]. Group 3: Broader AI Applications in Steel Production - China Baowu Steel Group is planning to expand AI capabilities across various steel production processes, including raw material handling and quality analysis [4]. - Baosteel has successfully deployed nearly 300 AI applications by 2025, establishing five benchmark production lines that integrate metallurgical principles with AI technology [5]. - The integration of AI in traditional manufacturing has become a key factor for Baosteel's growth, providing new pathways for cost reduction and efficiency improvement in the steel industry [5].

Core Viewpoint - Smart manufacturing is the core engine for high-quality development in the manufacturing industry, marking a critical leap from digitalization and networking to intelligence in China's manufacturing sector [1][5]. Group 1: Overview of Leading Smart Factories - The Ministry of Industry and Information Technology and five other departments announced the first batch of 15 leading smart factories, covering key industries such as equipment manufacturing, raw materials, and electronic information [1][4]. - These leading factories represent the highest level of smart manufacturing in China and showcase the breadth and depth of the country's intelligent manufacturing development [4][5]. Group 2: Classification and Development of Smart Factories - A four-tier system for smart factory cultivation has been established: foundational, advanced, excellent, and leading levels, with 35,000 foundational, over 7,300 advanced, 500 excellent, and 15 leading smart factories built to date [7]. - The leading level aims for global leadership and deep integration of AI, while the excellent level requires at least 20% AI application scenarios [7]. Group 3: Key Elements for Leading Smart Factories - Six key elements define a leading smart factory: industry leadership, AI technology application, innovative smart manufacturing models, performance leadership, replication leadership, and nurturing plans [10][12]. - Longfei Optical Fiber exemplifies these elements by integrating AI throughout its production process, achieving a global record in fiber drawing speed and precision [12][13]. Group 4: Case Studies of Leading Smart Factories - Weichai Power has implemented a digital twin technology that reduces R&D cycles by 20% and enhances production flexibility through AI-driven systems [20][21]. - Baosteel is innovating with AI-driven predictive manufacturing, aiming to establish 1,200 AI scenarios and 25 benchmark production lines by 2027, while also investing in talent development [25][27]. Group 5: Future Manufacturing Models - The exploration of future manufacturing models focuses on high customization, complex product production, and efficient supply chain organization, aiming to enhance China's position in the global supply chain [17][29]. - The emergence of these leading smart factories not only represents individual breakthroughs but also reflects a systemic transformation in China's manufacturing industry, providing replicable and scalable models for industry upgrades [29].

（编辑 丛可心） 证券日报网讯 1月12日，宝钢股份在互动平台回答投资者提问时表示，作为宝信软件的股东，宝钢股份 将充分尊重其作为上市公司的独立性，秉持市场化原则推进双方业务合作，并严格在资本市场相关法律 法规的框架内，支持其可持续发展。 ...