公司董事会结合在任独立董事的任职经历及其签署的自查 报告，认为在任独立董事不存在影响独立性的情形，符合《上市 公司独立董事管理办法》等法律法规及《公司章程》中关于独立 董事的任职资格及独立性的相关要求。在任独立董事任职期间， 均已严格遵守中国证监会和深圳证券交易所的相关规定，作出独 立判断，有效地履行了独立董事的职责。 中钢国际工程技术股份有限公司 董事会关于独立董事独立性评估的专项意见 根据《上市公司独立董事管理办法》《深圳证券交易所股票 上市规则》《深圳证券交易所上市公司自律监管指引第 1 号—— 主板上市公司规范运作》等要求，中钢国际工程技术股份有限公 司（以下简称"公司"）在任独立董事徐金梧（报告期内换届离 任）、季爱东（报告期内换届离任）、赵峡、王天翼、韩国瑞（报 告期内新任）、张建良（报告期内新任）对照相关监管规定中关 于独立董事所应具备的独立性要求进行了逐项自查并提交了自 查报告。经自查，公司全体在任独立董事均确认其满足公司适用 的各项监管规定中对于出任公司独立董事所应具备的独立性要 求。 2025 年 4 月 23 日 中钢国际工程技术股份有限公司董事会 ...

中钢国际 独立董事专门会议审核意见 中钢国际工程技术股份有限公司 第十届董事会独立董事 2025 年第一次专门会议 审核意见 根据《中华人民共和国公司法》《上市公司独立董事管理办法》《深圳证券交 易所股票上市规则》及《中钢国际工程技术股份有限公司章程》和《中钢国际工 程技术股份有限公司独立董事工作制度》的有关规定，中钢国际工程技术股份有 限公司（以下简称"公司"）已于 2025 年 4 月 23 日召开第十届董事会独立董事 2025 年第一次专门会议，基于独立判断立场，本着认真、严谨、负责的态度， 公司独立董事就本次会议的事项发表专项意见如下： 一、关于 2024 年年度利润分配预案的议案 鉴于公司目前经营情况和发展前景良好，业绩稳步增长，同时考虑公司广大 投资者的合理诉求，为回报股东，同意公司以 2024 年 12 月 31 日的总股本 1,434,644,621 股为基数，以未分配利润向全体股东每 10 股派发现金红利人民币 2.99 元（含税）。同意将该议案提交公司董事会审议。 二、关于公司《2024 年年度募集资金存放与使用情况专项报告》的议案 我们对公司募集资金存放和使用情况进行了核查，报告期内公司 ...

中钢国际工程技术股份有限公司 2024 年年度报告全文 中钢国际工程技术股份有限公司 2024 年年度报告 2025-10 2025 年 4 月 24 日 1 中钢国际工程技术股份有限公司 2024 年年度报告全文 2024 年年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别 和连带的法律责任。 公司负责人赵恕昆、主管会计工作负责人袁陆生及会计机构负责人（会 计主管人员）郭伟声明：保证本年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中如有涉及未来计划等前瞻性陈述，均属于计划性事项，不构成 公司对投资者的实质承诺，敬请投资者注意投资风险。 公司所处土木工程建筑类行业，具有应付款项、应收款项余额较高的行 业特征，经营活动健康稳定但经营性现金流呈现周期性特征。公司承接境外 工程总承包业务，项目执行周期长于国内同类项目，受所在国政治、经济、 金融环境影响。提请广大投资者注意风险。 公司经本次董事会审议通过的利润分配预案为：以 1,434,644,621 ...

中钢国际工程技术股份有限公司 2025 年第一季度报告 证券代码：000928 证券简称：中钢国际 公告编号：2025-18 中钢国际工程技术股份有限公司 2025 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）声明：保证 季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经审计 □是 否 1 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 3,518,655,777.49 | 4,901,352,825.93 | -28.21% | | 归属于上市公司股东的净利 | 231,576,304.51 | 214,868,949.92 | 7.78% | | 润（元） | | | | | 归属于上市公司股东的扣除 非经常性 ...

本议案已经公司董事会提名委员会全体成员事前审查认可。 表决结果：6 票同意，0 票反对，0 票弃权。 证券代码：000928 证券简称：中钢国际 公告编号：2025-6 中钢国际工程技术股份有限公司 第十届董事会第六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 中钢国际工程技术股份有限公司（以下简称"公司"）第十届董事会第六次 会议于 2025 年 4 月 7 日在公司会议室以现场结合视频方式召开。会议通知及会 议材料于 2025 年 4 月 3 日以邮件方式送达公司各位董事。会议由公司副董事长 赵恕昆召集和主持，应出席会议的董事 6 名，实际出席会议的董事 6 名（其中董 事赵恕昆、刘安以视频方式出席）。会议的召开符合《中华人民共和国公司法》 及《公司章程》的规定。 本次会议审议通过了《关于聘任公司总经理的议案》。 同意聘任赵恕昆为公司总经理，任期自本次董事会审议通过之日起，至本届 董事会任期届满之日止，简历附后。 特此公告。 中钢国际工程技术股份有限公司董事会 2025 年 4 月 7 日 1 附件：简历 赵恕昆：男，1971 年出生，汉 ...

关于公司董事辞职的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：000928 证券简称：中钢国际 公告编号：2025- 5 中钢国际工程技术股份有限公司 截至本公告披露日，陆鹏程先生未持有公司股票，其持有的公司 2022 年股 票期权激励计划 20 万份股票期权，后续公司将按照《上市公司股权激励管理办 法》和公司股票期权激励计划的相关规定予以注销。 特此公告。 中钢国际工程技术股份有限公司董事会 2025 年 4 月 3 日 1 中钢国际工程技术股份有限公司（以下简称"公司"）董事会近日收到公司 董事长陆鹏程先生递交的书面辞职报告。因个人原因，陆鹏程先生向董事会提出 辞去公司第十届董事会董事长、董事会专门委员会相关职务，辞职后不再担任公 司其他职务。 陆鹏程先生的辞职不会导致公司董事会成员低于法定最低人数，不会影响公 司董事会的正常运作，其辞职报告自送达公司董事会时生效。 ...

Summary of Zhonggang International Conference Call Company Overview - Zhonggang International reported a double-digit growth in net profit after deducting non-recurring items, with operating cash flow turning positive in Q4 2024, maintaining or exceeding the levels of the same period in 2023, indicating robust operational quality despite the downturn in the domestic steel industry [2][4][6]. Key Financial Highlights - In 2024, Zhonggang International's overseas new contract amount reached 12.668 billion yuan, marking a recent high, particularly with nearly 3 billion yuan in comprehensive steel plant projects signed in Egypt along the "Belt and Road" initiative [2][5]. - The overall gross margin improved due to increased overseas revenue and new contracts, maintaining around 12% in the first three quarters and stabilizing for the year, attributed to refined management and effective project completion [2][7]. Strategic Partnerships - The company engaged in deep cooperation with major clients such as Rio Tinto and Baowu Steel Group, particularly on the Simandou iron ore project in Guinea, enhancing its brand influence and market competitiveness [2][8]. Market Expansion and Future Outlook - Zhonggang International plans to continue focusing on overseas markets, expanding both existing and new client relationships, with expectations of strong demand in the Middle East and other regions in the coming years [2][6]. - The company aims to explore international business, especially in the green metallurgy raw materials sector, by sourcing iron ore in gas-rich areas and processing it for domestic use, addressing challenges from domestic market adjustments [3][16]. Industry Dynamics - The supply-side reform in the steel industry has released positive signals, with policies from the Ministry of Industry and Information Technology promoting the domestic steel sector. The company signed contracts for variable frequency furnaces with private steel enterprises, responding to an increase in electric furnace steelmaking ratio above 15% [2][14]. - The geopolitical situation, particularly the Russia-Ukraine conflict, presents both opportunities and challenges for business expansion, with the company relying on technological innovation to secure orders despite increased competition post-conflict [9][10]. Regional Performance - New contracts in 2024 were primarily concentrated in Africa, especially North Africa, contributing significantly to the company's performance. The expectation for 2025 is to capture orders in the Middle East due to rising demand [15][22]. Operational Resilience - The company’s overseas projects are not affected by domestic holidays, ensuring continuous progress on contracts [11]. The overall sentiment regarding overseas business remains optimistic, with manageable impacts from domestic pressures [26]. Future Development Strategy - Zhonggang International's future strategy focuses on three main areas: low-carbon metallurgy technology research and development, international market expansion, and digital application, which are expected to enhance its core competitiveness [28]. Conclusion - Zhonggang International is positioned to leverage its international contracts and partnerships while navigating domestic challenges, with a clear strategy for growth in the green metallurgy sector and a focus on maintaining operational quality and profitability in a competitive landscape [2][28].

Summary of Zhonggang International's Conference Call Company Overview - **Company**: Zhonggang International - **Industry**: Steel and Mining Engineering Key Points and Arguments 2024 Performance and Growth - Zhonggang International maintained a steady growth trajectory in 2024 despite a decline in revenue, with a profit increase exceeding 10% after deducting non-recurring items [3][4] - The gross profit margin continued to improve, and operating cash flow was better than the same period in 2023 [3] Overseas Market Focus - The proportion of new contracts and revenue from overseas markets reached the highest level in recent years, although new orders in the Russian-speaking region did not show significant growth due to the impact of the Russia-Ukraine war [4][5] - The Middle East is a key development area, benefiting from infrastructure demands driven by Saudi Arabia's Vision 2030 and other economic diversification strategies [4] - The company is actively expanding into the African market, particularly in North Africa's mining sector [4][8] Domestic Market Outlook - Despite expectations for growth in new orders in 2025, the company remains cautious about domestic projects due to the long-cycle adjustments in the steel industry [4][11] - The domestic steel industry is currently facing severe losses, but potential positive changes may arise from the Ministry of Industry and Information Technology's proposal to increase electric furnace steelmaking to 15% [4][18] Competitive Advantages - Zhonggang International excels in direct reduction iron and pelletizing processes, maintaining strong competitiveness through technological innovation [4][9] - The company has seen a gradual increase in overseas new orders since 2023, with a significant advantage over the domestic market [10] Challenges in Russian and Ukrainian Markets - The Russian-speaking region has historically been an important market, but new orders have declined due to the ongoing conflict [5][12] - In Ukraine, a previously signed project is currently on hold due to the war, with future opportunities dependent on reconstruction plans [6] Future Market Potential - Key focus areas for future growth include the Middle East, Africa, and Southeast Asia, with Central Asian countries like Kazakhstan also seen as potential sources of new orders [4][17] - The company aims to leverage its technological strengths to expand in resource-rich regions of West and Southern Africa [8][21] Impact of International Sanctions - Easing of international sanctions could improve payment channels, particularly for funds from Russia, which are currently under pressure due to sanctions [22] 2025 Outlook - The company anticipates continued growth in overseas orders, building on the 16 billion RMB in new contracts signed in 2024 [16] - The domestic market is expected to stabilize, with potential for a rebound in 2025 [18] Technological Development - Short-term prospects for the widespread adoption of clean metallurgy technology in China are limited due to resource constraints [30] Financial Health - The company faced significant impairment losses in 2024, impacting performance, but is taking measures to alleviate pressure in 2025 [26][28][29] Additional Important Insights - The company is positioned as a leader in industrial engineering within the Baowu Group, focusing on overseas market expansion [24] - The ongoing geopolitical situation necessitates a cautious approach to market opportunities in the Russian-speaking region [14][15]

Summary of Conference Call Company and Industry - The conference call involved **Zhongguo International** and its operations in the **construction and engineering industry**, particularly focusing on international projects under the **Belt and Road Initiative** [1][2]. Key Points and Arguments 1. **Revenue Decline**: The company reported a noticeable decline in revenue, primarily due to a downturn in the domestic industry and a high base effect from 2023, which was impacted by the pandemic [2][3]. 2. **2024 Revenue Projection**: The expected revenue for 2024 is approximately **17.6 billion** [2]. 3. **Cash Flow Stability**: The company aims to maintain stable operating cash flow, projecting it to be on par with 2023 despite the industry downturn [3]. 4. **Overseas Contract Growth**: New overseas contracts signed increased by over **50%** year-on-year, indicating a robust performance in international markets despite domestic challenges [4]. 5. **Focus on Africa**: The majority of new overseas contracts are concentrated in North Africa, particularly in countries like **Algeria**, **Guinea**, and **Egypt** [5]. 6. **High-Quality Projects**: The company is committed to enhancing the quality of its projects under the Belt and Road Initiative, with stable growth in traditional markets [5]. 7. **Mining Sector Potential**: The mining sector shows significant potential, with the company making progress in developing high-difficulty mineral resources [6]. 8. **Partnerships with Major Corporations**: Collaborations with major companies like **Rio Tinto** and **Tenova** have strengthened the company's market position and brand reputation [7]. 9. **Internationalization Strategy**: The company is focusing on international expansion, with a significant portion of its business now derived from overseas operations [9][10]. 10. **Profit Margin Recovery**: The recovery of profit margins is attributed to the higher profitability of overseas projects compared to domestic ones, with an expected improvement in overall gross margin [15][17]. 11. **Domestic Market Challenges**: The domestic steel industry is facing significant pressure, with many companies experiencing losses, which may lead to increased competition and pricing pressure [21][22]. 12. **Future Outlook**: The company anticipates a growth in contracts for 2024, despite the challenges in the domestic market, as engineering projects are generally long-term investments [21][34]. Other Important Content - **Technological Advancements**: The company is exploring new technologies and methods to enhance efficiency and reduce costs in its operations [28][30]. - **Regulatory Environment**: The impact of international tariffs and trade policies on the steel industry is a concern, with potential implications for future exports [23][32]. - **Sustainability Initiatives**: There is a focus on low-carbon initiatives and energy efficiency improvements within the steel sector, aligning with global sustainability goals [25][30]. - **Market Dynamics**: The company is adapting to changing market conditions, including the need for improved cash flow management and contract quality [12][34]. This summary encapsulates the key insights and discussions from the conference call, highlighting the company's strategic direction and market challenges.

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Views - The company is expected to achieve a total revenue of 17.618 billion yuan in 2024, representing a year-on-year decline of 33.21%. However, the net profit attributable to shareholders is projected to be 809 million yuan, an increase of 6.21% year-on-year, while the net profit after deducting non-recurring items is expected to be 709 million yuan, up 12.93% year-on-year [2][6]. Summary by Sections Revenue and Profitability - The company faced revenue pressure with a total revenue of 17.618 billion yuan, down 33.21% year-on-year. In Q4 alone, revenue was 5.015 billion yuan, a decline of 45.59% year-on-year. Despite this, the company's net profit margin improved, with a non-recurring net profit margin of 4.02%, up 1.64 percentage points year-on-year [11][12]. Order Structure - The company signed new orders totaling 19.67 billion yuan in 2024, a year-on-year increase of 2.12%. Domestic new orders were 3.402 billion yuan, down 60.94%, while overseas new orders reached 16.268 billion yuan, up 54.17% [11][12]. Financial Position - The company has made sufficient provisions, which may lead to a lighter burden in 2025. A lawsuit regarding construction contract disputes has resulted in a claim for overdue payments of 457 million yuan, which may contribute to the significant difference between net profit and net profit after deductions [11][12]. Valuation and Dividend - The company's current valuation is at 1.1 times price-to-book ratio, which is still at a low percentile of 13% over the past decade. The price-to-earnings ratio for this year's performance is approximately 11 times, and with a projected dividend payout ratio of 50%, the current dividend yield is about 4.4%, making it an attractive low-valuation, high-dividend stock [11][12].