Core Viewpoint - Fangda Carbon (600516.SH) is expected to see a significant decline in net profit for the year 2025, with projections indicating a decrease of 45.85% to 67.51% compared to the previous year [1] Financial Performance - The estimated net profit attributable to shareholders for 2025 is projected to be between 60.44 million and 100.74 million yuan [1] - The expected net profit after deducting non-recurring gains and losses is forecasted to be between -113.85 million and -136.13 million yuan, representing a staggering decrease of 345.12% to 393.08% year-on-year [1] Market Conditions - The decline in sales prices of the company's main products is anticipated to have a significant negative impact on performance [1] - The company is navigating a complex and severe international environment, characterized by fluctuating market conditions and intense competition within the industry [1] Strategic Initiatives - The company is focusing on high-quality development as its core theme, driven by reform and innovation [1] - Fangda Carbon aims to accurately grasp market trends and seize market opportunities, which has led to an increase in sales volume of its main products [1] - The company is also expanding into emerging non-steel sectors to solidify its position as an industry leader [1]

●本期业绩预告适用于实现盈利，且归属于上市公司股东的净利润与上年 同期相比下降 50%以上的情形。 ●经方大炭素新材料科技股份有限公司（以下简称公司）财务部门初步测算， 预计 2025 年度实现归属于上市公司股东的净利润为 6,044.33 万元到 10,073.88 万元，同比减少 45.85%到 67.51%。 ●预计 2025 年度实现归属于上市公司股东的扣除非经常性损益的净利润 -11,385.35 万元到-13,612.92 万元，同比减少 345.12%到 393.08%。 证券代码 ：600516 证券简称： 方大炭素 公告编号：2026—006 方大炭素新材料科技股份有限公司 2025年年度业绩预告 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。 重要内容提示： 1 （一）归属于上市公司股东的净利润：18,602.18 万元，归属于上市公司股 东的扣除非经常性损益的净利润：4,644.73 万元。 （二）每股收益：0.05 元/股。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 20 ...

Core Viewpoint - The company expects a significant decline in net profit for the fiscal year 2025, with projections indicating a decrease of 45.85% to 67.51% compared to the previous year [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is estimated to be between 60.44 million and 100.74 million [1] - The expected net profit after deducting non-recurring gains and losses is forecasted to be between -113.85 million and -136.13 million, representing a year-on-year decrease of 345.12% to 393.08% [1] Market Conditions - The decline in sales prices of the company's main products is anticipated to have a significant negative impact on overall performance [1]

Core Viewpoint - The company expects a significant decline in net profit for the year 2025, with projections indicating a decrease of 45.85% to 67.51% compared to the previous year [1] Financial Performance - The estimated net profit attributable to shareholders for 2025 is projected to be between 60.44 million and 100.74 million yuan [1] - The estimated net profit after deducting non-recurring gains and losses is expected to be between -113.85 million and -136.13 million yuan, reflecting a staggering decrease of 345.12% to 393.08% year-on-year [1] Market Conditions - The decline in sales prices of the company's main products is anticipated to have a significant impact on performance [1] - The company is facing a challenging international environment, fluctuating market conditions, and intense competition within the industry [1] Strategic Initiatives - The company aims to focus on high-quality development, driven by reform and innovation [1] - It is committed to accurately grasping market trends and seizing market opportunities, which has led to an increase in sales volume of its main products [1] - The company is also expanding into emerging non-steel sectors to solidify its position as an industry leader [1]

Core Viewpoint - The company anticipates a significant decline in net profit for the fiscal year 2025, with projections indicating a decrease of 45.85% to 67.51% compared to the previous year [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between 60.44 million and 101 million yuan [1] - The forecasted net profit, excluding non-recurring gains and losses, is expected to be between -114 million and -136 million yuan, representing a year-on-year decrease of 345.12% to 393.08% [1] Market Conditions - The company attributes the anticipated decline in performance to a decrease in the sales prices of its main products, which has a significant impact on overall results [1] - The company is facing a complex and severe international situation, fluctuating market conditions, and intense competition within the industry [1] Strategic Initiatives - In response to these challenges, the company is focusing on high-quality development, driven by reform and innovation [1] - The company aims to accurately grasp market trends and seize market opportunities, which has led to an increase in the sales volume of its main products and the exploration of emerging non-steel sectors [1] - These efforts are intended to solidify the company's position as an industry leader [1]

Group 1 - The steel raw materials sector increased by 2.99% compared to the previous trading day, with Guangdong Mingzhu leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] - Key stocks in the steel raw materials sector showed varied performance, with Guangdong Mingzhu rising by 9.99% to a closing price of 8.48, and Hebei Steel Resources declining by 1.62% to a closing price of 24.23 [1] Group 2 - The net inflow of main funds in the steel raw materials sector was 15.71 million yuan, while retail funds saw a net inflow of 21.07 million yuan [1] - Major stocks like Dazhong Mining and Guangdong Mingzhu experienced significant net inflows from main funds, with Dazhong Mining receiving 56.14 million yuan [2] - Retail investors showed a mixed response, with some stocks like Dazhong Mining and Guangdong Mingzhu facing net outflows from retail funds [2]

Investment Rating - The report maintains a "Buy" rating for the steel industry, recommending several key companies [2][3]. Core Insights - The supply-demand situation is improving, leading to a potential recovery in profits for the steel industry. The report highlights that production of major steel products has increased, while total inventory has decreased, indicating a positive shift in market dynamics [7][30]. - The report emphasizes that the profitability of steel manufacturers is expected to recover in the short term due to improved supply-demand conditions and stable cost support from raw materials [7][30]. Summary by Sections 1. Domestic Steel Market - As of January 16, steel prices have risen, with HRB400 rebar priced at 3,320 CNY/ton, up 40 CNY/ton from the previous week. Other products like high-line and hot-rolled steel also saw price increases [13][14]. 2. Production and Inventory - The total production of five major steel products reached 8.19 million tons, an increase of 0.62 million tons week-on-week. Total inventory decreased by 11,700 tons to 865,320 tons, indicating a positive trend in inventory management [7][30]. 3. Profitability - The report notes a decline in steel profits, with average margins for rebar, hot-rolled, and cold-rolled steel decreasing by 13 CNY/ton, 4 CNY/ton, and 18 CNY/ton respectively. However, the overall outlook for profit recovery remains optimistic [7][30]. 4. Key Company Recommendations - Recommended companies include: - General Steel Leaders: Hualing Steel, Baosteel, Nanjing Steel - Special Steel Sector: Xianglou New Materials, CITIC Special Steel, Fangda Special Steel - Pipe Manufacturers: Jiuli Special Materials, Youfa Group, Changbao Co. - Raw Material Sector: Dazhong Mining (iron ore + lithium ore), Fangda Carbon [7][30].

Core Insights - Fangda Carbon New Material Technology Co., Ltd. successfully acquired a core office building in Shanghai through judicial auction, reflecting the strong appeal of office assets in the 2025 Shanghai bulk trading market [2][3] - According to JLL, office assets accounted for 52% of transaction value and 42% of transaction volume in 2025, indicating their continued importance for investors [6] Group 1: Company Actions - Fangda Carbon's wholly-owned subsidiary, Shanghai Fangda Investment Management Co., Ltd., won the auction for an office building with a total area of 2,997.83 square meters at a price of 456 million yuan [3][5] - The acquisition aims to support the business development needs of Shanghai Fangda [3] Group 2: Market Trends - JLL reported that the Shanghai bulk trading market recorded 89 transactions in 2025, with a total transaction value of approximately 48.7 billion yuan, a 15% year-on-year decline [6] - Investment demand accounted for 82% of the market, reflecting confidence in the long-term appreciation of bulk assets in Shanghai [6] Group 3: Office Market Dynamics - The demand for Grade A office space in Shanghai showed a quarterly increase in 2025, although the supply side faced pressure from new deliveries [7] - The overall market remained favorable for tenants, with rental rates continuing to decline, particularly in the central business district where rents fell by 12.1% year-on-year [8]

Core Viewpoint - The article discusses the acquisition of a property located at 319 Jianguo West Road in Shanghai by Fangda Carbon, highlighting the financial struggles of the previous owner, Huadong (China), and the strategic asset allocation by Fangda Carbon in a challenging real estate market [1][2][4]. Group 1: Property Acquisition - Fangda Carbon's subsidiary, Shanghai Fangda Investment Management Co., won the auction for the property at a base price of 456 million yuan, with a total area of 2,997.83 square meters [1]. - The property is located in a core area of Shanghai's historical district and is considered a scarce resource due to its classification as part of a "never-widening street" [1]. Group 2: Previous Owner's Financial Struggles - The previous owner, Huadong (China), faced a debt crisis leading to the bankruptcy of its subsidiary, Verona Real Estate, which resulted in the judicial auction of the property [2][3]. - Huadong (China) was once recognized as a top real estate developer but has suffered from declining performance due to the downturn in the real estate market and tightening financing conditions [2][3]. Group 3: Fangda Carbon's Business Profile - Fangda Carbon is a leading global producer of carbon products and new materials, focusing on graphite electrodes and carbon bricks, with significant market share and technological advantages [5]. - The company does not have a large-scale real estate business, indicating that the acquisition is more of a short-term asset allocation decision rather than a long-term strategic move into real estate [5]. Group 4: Parent Company Expansion - Fangda Carbon's parent company, Liaoning Fangda Group, has a diversified business strategy that includes real estate and healthcare, indicating potential future developments in these sectors [5][6]. - Liaoning Fangda Group has made significant investments in real estate, including acquiring land for healthcare projects, showcasing its broader strategic ambitions [6].

证券之星消息，1月15日冶钢原料板块较上一交易日下跌0.29%，大中矿业领跌。当日上证指数报收于 4112.6，下跌0.33%。深证成指报收于14306.73，上涨0.41%。冶钢原料板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000629 | 钢钛股份 | 8781.95万 | 9.26% | 251.69万 | 0.27% | -9033.64万 | -9.53% | | 601121 | 宝地矿业 | 1625.53万 | 9.37% | -1319.57万 | -7.61% | -305.96万 | -1.76% | | 600382 | XD广东明 | 721.63万 | 4.99% | 259.68万 | 1.80% | -981.31万 | -6.79% | | 000655 | 金岭矿业 | 714.52万 | 4.39% | -262.30万 | -1.61% | -45 ...