Core Viewpoint - The stock of Xinxing Ductile Iron Pipes Co., Ltd. has shown a mixed performance with a year-to-date increase of 18.42% as of February 10, while facing a slight decline of 2.17% on that day [1]. Group 1: Stock Performance - As of February 10, the stock price was 4.95 CNY per share, with a trading volume of 52.81 million CNY and a turnover rate of 0.27%, resulting in a total market capitalization of 19.618 billion CNY [1]. - The stock has increased by 2.06% over the last five trading days, 16.75% over the last 20 days, and 14.32% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, the company achieved a revenue of 27.183 billion CNY, reflecting a year-on-year growth of 0.38%, while the net profit attributable to shareholders was 699 million CNY, marking a significant increase of 44.67% [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders was 120,200, a decrease of 1.85% from the previous period, with an average of 32,403 circulating shares per shareholder, which is an increase of 1.88% [2]. - The company has distributed a total of 8.672 billion CNY in dividends since its A-share listing, with 837 million CNY distributed over the last three years [3]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 20.2547 million shares to 51.2662 million shares, while ICBC Innovation Power Stock reduced its holdings by 6.93 million shares to 28.26 million shares [3].

（文章来源：证券日报） 证券日报网讯 2月6日，新兴铸管在互动平台回答投资者提问时表示，公司市值管理制度已正式落地实 施，长期破净的相关估值提升计划正稳步推进，相关制度及计划均已按规披露；自愿性信息披露将结合 经营实际制定常态化安排，持续提升披露透明度。 ...

（文章来源：证券日报） 证券日报网讯 2月6日，新兴铸管在互动平台回答投资者提问时表示，根据信息披露公平原则，公司选 择在定期报告中披露对应期时点的股东人数信息。 ...

证券日报网讯2月6日，新兴铸管（000778）在互动平台回答投资者提问时表示，公司高度重视市值管理 工作，已制定并落地相关管理制度，后续将结合公司经营发展实际及市场情况，持续完善市值管理相关 举措，建立健全长效工作机制，切实维护公司及全体股东合法权益。 ...

Core Viewpoint - The stock of Xinxing Ductile Iron Pipes Co., Ltd. has shown a significant increase in price and trading activity, indicating positive market sentiment and potential growth in the company's financial performance [1][2]. Group 1: Stock Performance - On February 6, Xinxing Ductile's stock price decreased by 2.12%, trading at 5.07 CNY per share with a total market capitalization of 20.093 billion CNY [1]. - Year-to-date, the stock has increased by 21.29%, with a 0.40% rise over the last five trading days, 19.29% over the last 20 days, and 17.36% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Xinxing Ductile reported a revenue of 27.183 billion CNY, reflecting a year-on-year growth of 0.38% [2]. - The net profit attributable to shareholders for the same period was 699 million CNY, showing a significant increase of 44.67% compared to the previous year [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Xinxing Ductile was 120,200, a decrease of 1.85% from the previous period [2]. - The average number of tradable shares per shareholder increased by 1.88% to 32,403 shares [2]. - The company has distributed a total of 8.672 billion CNY in dividends since its A-share listing, with 837 million CNY distributed over the last three years [3].

证券日报网讯 2月5日，新兴铸管在互动平台回答投资者提问时表示，公司所属行业为金属制品业，公 司主要产品有离心球墨铸铁管及管件、钢铁冶炼及压延产品、铸造制品、钢塑复合管、钢格板、特种钢 管等产品系列。 （文章来源：证券日报） ...

Market Performance - On February 4, the general steel sector rose by 2.27% compared to the previous trading day, with Benxi Steel leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] Individual Stock Performance - Benxi Steel (000761) closed at 3.76, up 6.52% with a trading volume of 384,400 shares and a transaction value of 141 million yuan [1] - Hualing Steel (000932) closed at 6.27, up 4.85% with a trading volume of 1,068,200 shares and a transaction value of 655 million yuan [1] - Anyang Steel (600569) closed at 2.45, up 4.26% with a trading volume of 448,500 shares and a transaction value of 108 million yuan [1] - New Steel (600782) closed at 3.96, up 4.21% with a trading volume of 1,174,500 shares and a transaction value of 458 million yuan [1] - New Casting Pipe (000778) closed at 5.05, up 4.12% with a trading volume of 1,246,300 shares and a transaction value of 619 million yuan [1] Capital Flow Analysis - The steel sector experienced a net outflow of 2.99 million yuan from main funds, while retail investors saw a net inflow of 17.8 million yuan [2] - Hualing Steel had a main fund net inflow of 61.31 million yuan, but a net outflow of 38.48 million yuan from speculative funds [3] - Benxi Steel saw a main fund net inflow of 23 million yuan, with a significant net outflow from retail investors amounting to 20.8 million yuan [3]

证券研究报告 | 行业周报 gszqdatemark 2026 02 01 年 月 日 钢铁 欲速则不达 行情回顾（1.26-1.30）： 中信钢铁指数报收 2,060.38 点，下跌 2.02%，跑输沪深 300 指数 2.1pct， 位列 30 个中信一级板块涨跌幅榜第 15 位。 重点领域分析： 投资策略：本周股票和商品市场出现波动，尤其是贵金属市场暴涨后暴跌。 市场关心特朗普宣布提名凯文·沃什担任美联储主席，由其过去主张去推 断未来政策变化，殊不知所有的政策主张都要服从现实经济需要。短期价 格波动更多是交易层面上的资金行为，价格上涨本身会创造需求，快速上 涨会吸引大量投机资金进入市场，从而放大价格波动率。而一旦短期上涨 受阻，平仓就会形成踩踏。这样的投机行为会导致节奏的变化，但贵金属 运行趋势不会改变，交易上做好未来高波动的心理准备。货币体系贬值和 结构性重组会提高人民币资产和贵金属的吸引力。但工业金属很难单纯依 靠流动性推升。在最大存量需求方中国经济转型过程中，真实需求不足的 时候，真实需求无法与更高的资源品价格相匹配，到达高位后工业金属价 格可能会受到制约。如果是基于货币体系的担忧，那产生泡沫最好 ...

Core Viewpoint - The centrifugal ductile iron pipe industry in China is expected to grow significantly, with a market size projected to reach 60.358 billion yuan in 2024, reflecting an 8.0% year-on-year increase, driven by urbanization and government policies promoting infrastructure upgrades [1][7]. Industry Overview - Centrifugal ductile iron pipes, known for their excellent mechanical properties, corrosion resistance, and economic viability, are increasingly favored for municipal pipeline renovations [1][3]. - The industry is characterized by various classifications based on pressure ratings, joint types, surface treatments, and specific applications [3][4]. Market Size and Growth - The market size for centrifugal ductile iron pipes in China is projected to reach 60.358 billion yuan in 2024, with an annual growth rate of 8.0% [1][8]. - The length of urban water supply pipelines in China is expected to grow from 710,200 kilometers in 2015 to 1,199,500 kilometers by 2024, with a compound annual growth rate of 6.0% [7]. Industry Chain - The industry chain consists of upstream raw material supply (pig iron, coke, scrap steel), midstream production, and downstream applications in urban water supply, sewage treatment, and municipal engineering [6]. - The production of pig iron, a key raw material, is projected to decline to 85.173 million tons in 2024, reflecting a 2.3% year-on-year decrease [6]. Competitive Landscape - The centrifugal ductile iron pipe industry is becoming increasingly concentrated, with leading companies like Xinxing Ductile Iron Pipes and Saint-Gobain Pipe Systems dominating the market [9]. - Smaller manufacturers are competing primarily on price in regional markets, leading to a differentiated competitive landscape [9]. Development Trends - The industry is moving towards lightweight pipe solutions that optimize production costs and improve installation efficiency [12]. - There is a dual trend of high-end and customized product development to meet diverse application needs, enhancing mechanical performance and durability [13]. - The concentration of the industry is expected to increase, with leading firms gaining market share as smaller companies face challenges [14].

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 ...