Guotai Haitong Securities: Steel supply continues to maintain contraction expectations, maintaining an 'Overweight' rating for the industry.

The bank maintains its expectation of a contraction on the supply side, and the fundamentals of the steel industry are expected to gradually recover.

Zhitong FinanceDec 1 13:54 · Ratings

Dongwu Securities: The steel industry's anti-internal competition trend remains unchanged, and lower iron ore costs are expected to stabilize profitability.

In 2025, steel supply will remain abundant while demand shows slight recovery. Looking ahead to 2026, overcapacity in the steel industry is expected to remain the primary issue, with prices likely to maintain a volatile trend.

Zhitong FinanceNov 24 15:46

CSC Financial: Marginal decline in steel exports in October, but indirect exports still hold growth potential for the future.

The bank believes that the global manufacturing PMI is stabilizing and rebounding, with export order indexes of China's steel enterprises returning to the expansion zone, and the price competitiveness of steel exports continuing to strengthen.

Zhitong FinanceNov 24 15:33

Minsheng Securities: Steel sector rose in the first three quarters of 2025; capacity optimization will be the main focus going forward.

Optimization of steel production capacity will be the main focus in the future. This round of optimization may place greater emphasis on supporting high-quality enterprises while phasing out underperforming ones, implementing differentiated control through tiered and categorized management.

Zhitong FinanceNov 19 15:26

Jiuli Special Materials (002318.SZ): Proposed Launch of the First Employee Stock Ownership Plan for 2025

Gelonghui, November 18th ─ JiuLi Special Materials (002318.SZ) announced the first phase of its employee stock ownership plan for 2025. The total amount of funds raised for this employee stock ownership plan will not exceed RMB 245,926,130. The funding sources include employees' legitimate compensation and self-raised funds obtained through other methods permitted by laws and administrative regulations. There is no provision of financial assistance or loan guarantees for employees participating in this plan, nor does it involve the withdrawal of incentive funds from the company. The source of shares for this employee stock ownership plan will be the company's repurchased shares held in a dedicated repurchase account, and the plan will utilize non-trading transfers, among other methods.

Gelonghui FinanceNov 18 20:05

Caitong Haitong: Maintaining expectations of contraction in steel supply, fundamentals of the industry are expected to gradually recover.

The continued downturn in the real estate sector has led to a decline in demand from this segment. It is expected that the negative drag of real estate on steel demand will weaken, while steel demand from infrastructure and manufacturing sectors is likely to achieve steady growth.

Zhitong FinanceNov 18 13:38