财务分析☆ ◇000898 鞍钢股份 更新日期：2026-11-07◇ 通达信沪深京F10
★本栏包括【1.主要财务指标】【2.偿债能力指标】【3.营运能力指标】【4.盈利能力指标】
【5.成长能力指标】【6.指标变动说明】【7.资产负债表摘要】【8.利润表摘要】
【9.现金流量表摘要】【10.环比分析】
【1.主要财务指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│财务指标 │ 2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│审计意见 │ 未经审计│ 无保留意见│ 无保留意见│ 无保留意见│ 无保留意见│ 无保留意见│
│归母净利(未调整:万) │ -403400.00│ -406800.00│ -712200.00│ -325700.00│ 15600.00│ 692500.00│
│归母净利(调整后:万) │ ---│ ---│ -712200.00│ -325500.00│ 10800.00│ 696400.00│
│净利润增长率(%) │ -102.61│ 42.88│ -118.80│ -3115.74│ -97.76│ 250.10│
│扣非净利润(万) │ -416400.00│ -421800.00│ -720200.00│ -331500.00│ 1100.00│ 694100.00│
│营业总收(未调整:万) │ 6986600.00│ 9605200.00│ 10510100.00│ 11350200.00│ 13107200.00│ 13667400.00│
│营业总收(调整后:万) │ ---│ ---│ 10510100.00│ 11557100.00│ 13107200.00│ 13612000.00│
│总营收同比增长率(%) │ -4.46│ -8.61│ -9.06│ -13.40│ -3.71│ 35.45│
│加权净资产收益率(%) │ -9.53│ -8.90│ -13.91│ -5.78│ 0.26│ 12.26│
│资产负债比率(%) │ 56.99│ 53.17│ 51.61│ 42.90│ 39.34│ 38.28│
│净利润现金含量(%) │ -60.93│ -43.95│ 11.05│ -48.48│ 3935.26│ 185.50│
│基本每股收益(元) │ -0.4310│ -0.4340│ -0.7590│ -0.3470│ 0.0110│ 0.7400│
│每股收益-扣除(元) │ -0.4444│ -0.4500│ -0.7680│ -0.3530│ 0.0010│ 0.7380│
│每股收益-摊薄(元) │ -0.4306│ -0.4342│ -0.7590│ -0.3471│ 0.0166│ 0.7363│
│每股资本公积金(元) │ 3.6412│ 3.6455│ 3.6150│ 3.6075│ 3.6030│ 3.5730│
│每股未分配利润(元) │ -0.8932│ -0.4685│ -0.0342│ 0.7243│ 1.0903│ 1.2949│
│每股净资产(元) │ 4.2659│ 4.6835│ 5.0814│ 5.8296│ 6.1831│ 6.3439│
│每股经营现金流量(元)│ 0.2624│ 0.1908│ -0.0839│ 0.1683│ 0.6529│ 1.3658│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│财务指标 │ 2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│审计意见 │ 未经审计│ 未经审计│ 未经审计│ 无保留意见│ 未经审计│ 未经审计│
│归母净利(未调整:万) │ -403400.00│ -204700.00│ -145700.00│ -406800.00│ -204000.00│ -114400.00│
│归母净利(调整后:万) │ ---│ ---│ ---│ ---│ -199100.00│ -111500.00│
│净利润增长率(%) │ -102.61│ -83.59│ -163.00│ 42.88│ 59.87│ 57.46│
│扣非净利润(万) │ -416400.00│ -216600.00│ -146700.00│ -421800.00│ -216900.00│ -123100.00│
│营业总收(未调整:万) │ 6986600.00│ 4590700.00│ 2202100.00│ 9605200.00│ 7309200.00│ 4859900.00│
│营业总收(调整后:万) │ ---│ ---│ ---│ ---│ 7312400.00│ 4861800.00│
│总营收同比增长率(%) │ -4.46│ -5.58│ -12.19│ -8.61│ -7.78│ -12.35│
│加权净资产收益率(%) │ -9.53│ -4.69│ -3.38│ -8.90│ -4.37│ -2.43│
│资产负债比率(%) │ 56.99│ 55.83│ 53.89│ 53.17│ 52.00│ 51.59│
│净利润现金含量(%) │ -60.93│ -81.68│ -32.05│ -43.95│ -96.47│ -35.40│
│基本每股收益(元) │ -0.4310│ -0.2180│ -0.1560│ -0.4340│ -0.2130│ -0.1190│
│每股收益-扣除(元) │ -0.4444│ -0.2310│ -0.1566│ -0.4500│ -0.2315│ -0.1310│
│每股收益-摊薄(元) │ -0.4306│ -0.2185│ -0.1555│ -0.4342│ -0.2177│ -0.1221│
│每股资本公积金(元) │ 3.6412│ 3.6093│ 3.6455│ 3.6455│ 3.6209│ 3.6191│
│每股未分配利润(元) │ -0.8932│ -0.6811│ -0.6240│ -0.4685│ -0.2520│ -0.1564│
│每股净资产(元) │ 4.2659│ 4.4439│ 4.5307│ 4.6835│ 4.8816│ 4.9749│
│每股经营现金流量(元)│ 0.2624│ 0.1785│ 0.0498│ 0.1908│ 0.2101│ 0.0432│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【2.偿债能力指标】
┌───────────┬─────┬──────┬──────┬──────┬──────┬──────┐
│偿债能力指标 │2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├───────────┼─────┼──────┼──────┼──────┼──────┼──────┤
│流动比率 │ 0.54│ 0.56│ 0.72│ 0.77│ 0.81│ 1.06│
│速动比率 │ 0.30│ 0.29│ 0.34│ 0.30│ 0.43│ 0.44│
│资产负债比率(%) │ 56.99│ 53.17│ 51.61│ 42.90│ 39.34│ 38.28│
│产权比率 │ 1.37│ 1.16│ 1.09│ 0.76│ 0.66│ 0.63│
│现金流比率(短期债务)% │ 0.05│ 0.04│ -0.02│ 0.04│ 0.17│ 0.42│
└───────────┴─────┴──────┴──────┴──────┴──────┴──────┘
┌───────────┬─────┬──────┬──────┬──────┬──────┬──────┐
│偿债能力指标 │2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├───────────┼─────┼──────┼──────┼──────┼──────┼──────┤
│流动比率 │ 0.54│ 0.57│ 0.56│ 0.56│ 0.57│ 0.59│
│速动比率 │ 0.30│ 0.33│ 0.30│ 0.29│ 0.31│ 0.28│
│资产负债比率(%) │ 56.99│ 55.83│ 53.89│ 53.17│ 52.00│ 51.59│
│产权比率 │ 1.37│ 1.31│ 1.20│ 1.16│ 1.11│ 1.09│
│现金流比率(短期债务)% │ 0.05│ 0.04│ 0.01│ 0.04│ 0.04│ 0.01│
└───────────┴─────┴──────┴──────┴──────┴──────┴──────┘
【3.营运能力指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│营运能力指标 │ 2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│应收账款周转率 │ 20.52│ 31.83│ 44.33│ 50.10│ 55.40│ 60.99│
│存货周转率 │ 6.23│ 7.27│ 6.94│ 7.57│ 7.85│ 8.34│
│流动资产周转率 │ 2.80│ 3.64│ 3.78│ 4.03│ 4.24│ 4.93│
│固定资产周转率 │ 1.26│ 1.79│ 2.09│ 2.37│ 2.74│ 2.78│
│总资产周转率 │ 0.72│ 0.98│ 1.06│ 1.17│ 1.34│ 1.47│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│营运能力指标 │ 2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│应收账款周转率 │ 20.52│ 13.32│ 6.60│ 31.83│ 25.19│ 17.16│
│存货周转率 │ 6.23│ 4.08│ 1.98│ 7.27│ 5.42│ 3.37│
│流动资产周转率 │ 2.80│ 1.81│ 0.92│ 3.64│ 2.70│ 1.77│
│固定资产周转率 │ 1.26│ 0.83│ 0.40│ 1.79│ 1.40│ 0.93│
│总资产周转率 │ 0.72│ 0.47│ 0.23│ 0.98│ 0.74│ 0.49│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【4.盈利能力指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│盈利能力指标(%) │ 2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│净资产收益率 │ -10.09│ -9.27│ -14.94│ -5.95│ 0.27│ 11.61│
│销售毛利率 │ -2.83│ -1.25│ -3.54│ -0.47│ 2.33│ 9.69│
│营业利润率 │ -5.53│ -4.06│ -6.62│ -3.66│ -0.17│ 6.57│
│销售净利率 │ -5.65│ -4.16│ -6.75│ -2.84│ 0.14│ 5.09│
│总资产净利率 │ -4.09│ -4.06│ -7.16│ -3.32│ 0.19│ 7.50│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│盈利能力指标(%) │ 2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│净资产收益率 │ -10.09│ -4.92│ -3.43│ -9.27│ -4.46│ -2.45│
│销售毛利率 │ -2.83│ -1.80│ -3.17│ -1.25│ 0.14│ 0.65│
│营业利润率 │ -5.53│ -4.17│ -6.30│ -4.06│ -2.64│ -2.23│
│销售净利率 │ -5.65│ -4.31│ -6.48│ -4.16│ -2.72│ -2.29│
│总资产净利率 │ -4.09│ -2.04│ -1.50│ -4.06│ -2.00│ -1.12│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【5.成长能力指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│成长能力指标(%) │ 2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业收入增长率 │ -4.46│ -8.61│ -9.06│ -13.40│ -3.71│ 35.45│
│营业利润增长率 │ -108.48│ 43.95│ -68.15│ -1803.21│ -102.42│ 262.01│
│净利润增长率 │ -102.61│ 42.88│ -118.80│ -3115.74│ -97.76│ 250.10│
│净资产增长率 │ -10.51│ -7.97│ -12.93│ -5.69│ -4.23│ 11.81│
│总资产增长率 │ -1.05│ -4.51│ 3.15│ 0.02│ -1.74│ 10.77│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│成长能力指标(%) │ 2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业收入增长率 │ -4.46│ -5.58│ -12.19│ -8.61│ -7.78│ -12.35│
│营业利润增长率 │ -108.48│ -84.57│ -159.93│ 43.95│ 60.65│ 57.40│
│净利润增长率 │ -102.61│ -83.59│ -163.00│ 42.88│ 59.87│ 57.46│
│净资产增长率 │ -10.51│ -6.77│ -3.26│ -7.97│ -4.08│ -2.24│
│总资产增长率 │ -1.05│ 0.31│ -1.58│ -4.51│ -3.07│ -2.14│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【6.指标变动说明】
截止日期:2026-09-30
┌──────┬────────┬──────┬────────┬──────┐
│变动科目 │变动原因 │本期数值(万)│ 上期/期初数(万)│ 变动幅度(%)│
├──────┼────────┼──────┼────────┼──────┤
│财务费用 │为降低采购成本扩│ 34200.00│ 24300.00│ 40.74│
│ │大信用证福费廷规│ │ │ │
│ │模及为补充现金流│ │ │ │
│ │增加有息负债规模│ │ │ │
│其他收益 │先进制造业增值税│ 58200.00│ 29000.00│ 100.69│
│ │加计抵减同比增加│ │ │ │
│公允价值变动│金融资产公允价值│ 1900.00│ 5500.00│ -65.45│
│收益 │变动同比减少 │ │ │ │
│信用减值损失│已计提减值的其他│ 1000.00│ ---│ ---│
│ │应收款部分收回，│ │ │ │
│ │坏账准备转回 │ │ │ │
│资产减值损失│存货跌价因素 │ -39800.00│ -14200.00│ -180.28│
│资产处置收益│固定资产处置收益│ 500.00│ 900.00│ -44.44│
│ │同比减少 │ │ │ │
│营业外收入 │无法支付的应付款│ 1500.00│ 2600.00│ -42.31│
│ │项同比减少 │ │ │ │
│营业外支出 │固定资产报废损失│ 3000.00│ 1400.00│ 114.29│
│ │同比增加 │ │ │ │
│营业利润 │2026年钢铁行业供│ -386100.00│ -185200.00│ -108.48│
│ │大于求，处于弱周│ │ │ │
│ │期、低景气度运行│ │ │ │
│ │，钢材售价持续低│ │ │ │
│ │迷；同时炼焦煤、│ │ │ │
│ │喷吹煤等原燃料价│ │ │ │
│ │格持续上涨，购销│ │ │ │
│ │两端价差持续收窄│ │ │ │
│ │。面对复杂严峻的│ │ │ │
│ │市场形势，公司深│ │ │ │
│ │入推进“聚焦价值│ │ │ │
│ │创造、全面算账经│ │ │ │
│ │营”，坚持稳产优│ │ │ │
│ │产，加大协同联动│ │ │ │
│ │，但内部降本增效│ │ │ │
│ │仍不足以弥补购销│ │ │ │
│ │价差收窄带来的缺│ │ │ │
│ │口 │ │ │ │
│利润总额 │2026年钢铁行业供│ -387600.00│ -184000.00│ -110.65│
│ │大于求，处于弱周│ │ │ │
│ │期、低景气度运行│ │ │ │
│ │，钢材售价持续低│ │ │ │
│ │迷；同时炼焦煤、│ │ │ │
│ │喷吹煤等原燃料价│ │ │ │
│ │格持续上涨，购销│ │ │ │
│ │两端价差持续收窄│ │ │ │
│ │。面对复杂严峻的│ │ │ │
│ │市场形势，公司深│ │ │ │
│ │入推进“聚焦价值│ │ │ │
│ │创造、全面算账经│ │ │ │
│ │营”，坚持稳产优│ │ │ │
│ │产，加大协同联动│ │ │ │
│ │，但内部降本增效│ │ │ │
│ │仍不足以弥补购销│ │ │ │
│ │价差收窄带来的缺│ │ │ │
│ │口 │ │ │ │
│净利润 │2026年钢铁行业供│ -394500.00│ -192400.00│ -105.04│
│ │大于求，处于弱周│ │ │ │
│ │期、低景气度运行│ │ │ │
│ │，钢材售价持续低│ │ │ │
│ │迷；同时炼焦煤、│ │ │ │
│ │喷吹煤等原燃料价│ │ │ │
│ │格持续上涨，购销│ │ │ │
│ │两端价差持续收窄│ │ │ │
│ │。面对复杂严峻的│ │ │ │
│ │市场形势，公司深│ │ │ │
│ │入推进“聚焦价值│ │ │ │
│ │创造、全面算账经│ │ │ │
│ │营”，坚持稳产优│ │ │ │
│ │产，加大协同联动│ │ │ │
│ │，但内部降本增效│ │ │ │
│ │仍不足以弥补购销│ │ │ │
│ │价差收窄带来的缺│ │ │ │
│ │口 │ │ │ │
│归属于母公司│2026年钢铁行业供│ -403400.00│ -199100.00│ -102.61│
│所有者的净利│大于求，处于弱周│ │ │ │
│润 │期、低景气度运行│ │ │ │
│ │，钢材售价持续低│ │ │ │
│ │迷；同时炼焦煤、│ │ │ │
│ │喷吹煤等原燃料价│ │ │ │
│ │格持续上涨，购销│ │ │ │
│ │两端价差持续收窄│ │ │ │
│ │。面对复杂严峻的│ │ │ │
│ │市场形势，公司深│ │ │ │
│ │入推进“聚焦价值│ │ │ │
│ │创造、全面算账经│ │ │ │
│ │营”，坚持稳产优│ │ │ │
│ │产，加大协同联动│ │ │ │
│ │，但内部降本增效│ │ │ │
│ │仍不足以弥补购销│ │ │ │
│ │价差收窄带来的缺│ │ │ │
│ │口 │ │ │ │
│衍生金融资产│持仓期货合约浮动│ ---│ 400.00│ -100.00│
│ │盈亏 │ │ │ │
│应收票据 │票据贴现额及到期│ 13300.00│ 31500.00│ -57.78│
│ │兑付额高于收票金│ │ │ │
│ │额，消化了部分存│ │ │ │
│ │量票据 │ │ │ │
│预付款项 │预付原料款增加 │ 333800.00│ 248200.00│ 34.49│
│其他应收款 │下属子公司营口港│ 9200.00│ 67500.00│ -86.37│
│ │务于公司收购其股│ │ │ │
│ │权之前收回借款 │ │ │ │
│其他流动资产│定期存款及增值税│ 63700.00│ 111100.00│ -42.66│
│ │留抵比上年末减少│ │ │ │
│其他非流动金│处置株冶集团股票│ 6800.00│ 14200.00│ -52.11│
│融资产 │ │ │ │ │
│在建工程 │在建工程转固 │ 150000.00│ 237300.00│ -36.79│
│使用权资产 │公司对采用BOT模 │ 154400.00│ 10500.00│ 1370.48│
│ │式建设且适用租赁│ │ │ │
│ │准则的项目按规定│ │ │ │
│ │确认了使用权资产│ │ │ │
│其他非流动资│预付工程款核销 │ 15600.00│ 25600.00│ -39.06│
│产 │ │ │ │ │
│短期借款 │发行短期及超短期│ 545800.00│ 807000.00│ -32.37│
│ │融资券替代部分短│ │ │ │
│ │期借款 │ │ │ │
│衍生金融负债│持仓期货合约浮动│ 2500.00│ 100.00│ 2400.00│
│ │盈亏 │ │ │ │
│应付职工薪酬│计提工资及附加 │ 22400.00│ 11200.00│ 100.00│
│其他应付款 │应付工程款和质保│ 231100.00│ 431300.00│ -46.42│
│ │金减少 │ │ │ │
│一年内到期的│长期借款按到期日│ 149900.00│ 61900.00│ 142.16│
│非流动负债 │重分类至一年内到│ │ │ │
│ │期的非流动负债 │ │ │ │
│其他流动负债│发行短期及超短期│ 322600.00│ 43700.00│ 638.22│
│ │融资券 │ │ │ │
│租赁负债 │公司对采用BOT模 │ 130500.00│ 3600.00│ 3525.00│
│ │式建设且适用租赁│ │ │ │
│ │准则的项目按规定│ │ │ │
│ │确认了租赁负债 │ │ │ │
│递延收益 │收到政府补助 │ 126300.00│ 92400.00│ 36.69│
│递延所得税负│内部未实现损益确│ 700.00│ 100.00│ 600.00│
│债 │认递延所得税负债│ │ │ │
│ │增加 │ │ │ │
│专项储备 │安全生产费计提额│ 15000.00│ 8700.00│ 72.41│
│ │大于使用额 │ │ │ │
│未分配利润 │报告期公司经营亏│ -836800.00│ -433400.00│ -93.08│
│ │损 │ │ │ │
│经营活动产生│公司充分利用票据│ 245800.00│ 205300.00│ 19.73│
│的现金流量净│资源，增加信用证│ │ │ │
│额 │福费廷业务规模，│ │ │ │
│ │节约货币资金支出│ │ │ │
│ │，同时受采购节奏│ │ │ │
│投资活动产生│固定资产投资支出│ -339000.00│ -221100.00│ -53.32│
│的现金流量净│同比增加 │ │ │ │
│额 │ │ │ │ │
│筹资活动产生│收购营口港务、支│ 102800.00│ -74200.00│ 238.54│
│的现金流量净│付工程款及补充流│ │ │ │
│额 │动资金增加融资规│ │ │ │
│ │模 │ │ │ │
│现金及现金等│一是经营活动产生│ 9600.00│ -90000.00│ 110.67│
│价物净增加额│的现金流量净额同│ │ │ │
│ │比增加人民币405 │ │ │ │
│ │百万元；二是投资│ │ │ │
│ │活动产生的现金流│ │ │ │
│ │量净额同比减少人│ │ │ │
│ │民币1,179百万元 │ │ │ │
│ │；三是筹资活动产│ │ │ │
│ │生的现金流量净额│ │ │ │
│ │同比增加人民币1,│ │ │ │
│ │770百万元 │ │ │ │
└──────┴────────┴──────┴────────┴──────┘
截止日期:2026-06-30
┌──────┬────────┬──────┬────────┬──────┐
│变动科目 │变动原因 │本期数值(万)│ 上期/期初数(万)│ 变动幅度(%)│
├──────┼────────┼──────┼────────┼──────┤
│货币资金 │--- │ 517500.00│ 393600.00│ 31.48│
│应收款项 │--- │ 380900.00│ 308400.00│ 23.51│
│存货 │--- │ 1092800.00│ 1199500.00│ -8.90│
│长期股权投资│--- │ 401500.00│ 421100.00│ -4.65│
│固定资产 │--- │ 5469300.00│ 5561500.00│ -1.66│
│在建工程 │--- │ 211800.00│ 237300.00│ -10.75│
│使用权资产 │--- │ 158800.00│ 10500.00│ 1412.38│
│短期借款 │--- │ 625900.00│ 807000.00│ -22.44│
│合同负债 │--- │ 435600.00│ 473900.00│ -8.08│
│长期借款 │--- │ 642300.00│ 612100.00│ 4.93│
│租赁负债 │--- │ 135000.00│ 3600.00│ 3650.00│
│营业收入 │--- │ 4590700.00│ 4861800.00│ -5.58│
│营业成本 │--- │ 4673300.00│ 4824700.00│ -3.14│
│销售费用 │--- │ 21400.00│ 24200.00│ -11.57│
│管理费用 │--- │ 49100.00│ 48600.00│ 1.03│
│财务费用 │一是通过增加信用│ 23500.00│ 16300.00│ 44.17│
│ │证福费廷业务规模│ │ │ │
│ │，促进采购成本进│ │ │ │
│ │一步降低，涉及的│ │ │ │
│ │利息支出在发生时│ │ │ │
│ │一次性入账；二是│ │ │ │
│ │为补充现金流，有│ │ │ │
│ │息负债规模增加 │ │ │ │
│所得税费用 │--- │ 5500.00│ 5700.00│ -3.51│
│研发费用 │--- │ 22200.00│ 25900.00│ -14.29│
│利润总额 │2026年上半年，钢│ -192400.00│ -102000.00│ -88.63│
│ │铁行业供大于求，│ │ │ │
│ │弱周期、低景气度│ │ │ │
│ │，钢材售价持续低│ │ │ │
│ │迷，加之铁矿石、│ │ │ │
│ │焦煤等原燃料价格│ │ │ │
│ │高位运行，购销两│ │ │ │
│ │端剪刀差持续收窄│ │ │ │
│归属于上市公│2026年上半年，钢│ -204700.00│ -111500.00│ -83.59│
│司股东的净利│铁行业供大于求，│ │ │ │
│润 │弱周期、低景气度│ │ │ │
│ │，钢材售价持续低│ │ │ │
│ │迷，加之铁矿石、│ │ │ │
│ │焦煤等原燃料价格│ │ │ │
│ │高位运行，购销两│ │ │ │
│ │端剪刀差持续收窄│ │ │ │
│经营活动产生│公司充分利用票据│ 167200.00│ 38600.00│ 333.16│
│的现金流量净│资源，增加信用证│ │ │ │
│额 │福费廷业务规模，│ │ │ │
│ │节约货币资金支出│ │ │ │
│ │，同时受采购节奏│ │ │ │
│ │及付款账期等因素│ │ │ │
│ │综合影响经营活动│ │ │ │
│ │产生的现金流量净│ │ │ │
│ │额同比增加 │ │ │ │
│投资活动产生│--- │ -245900.00│ -192900.00│ -27.48│
│的现金流量净│ │ │ │ │
│额 │ │ │ │ │
│筹资活动产生│为收购营口港务、│ 199300.00│ 12100.00│ 1547.11│
│的现金流量净│支付工程款及补充│ │ │ │
│额 │流动资金增加融资│ │ │ │
│ │规模 │ │ │ │
│现金及现金等│一是经营活动产生│ 120600.00│ -142200.00│ 184.81│
│价物净增加额│的现金流量净额同│ │ │ │
│ │比增加人民币1,28│ │ │ │
│ │6百万元；二是投 │ │ │ │
│ │资活动产生的现金│ │ │ │
│ │流量净额同比减少│ │ │ │
│ │人民币530百万元 │ │ │ │
│ │；三是筹资活动产│ │ │ │
│ │生的现金流量净额│ │ │ │
│ │同比增加人民币1,│ │ │ │
│ │872百万元 │ │ │ │
└──────┴────────┴──────┴────────┴──────┘
【7.资产负债表摘要】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│资产负债指标(万元) │ 2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│货币资金 │ 408200.00│ 391300.00│ 454400.00│ 322100.00│ 509300.00│ 537600.00│
│存货 │ 1108100.00│ 1199300.00│ 1476900.00│ 1656500.00│ 1357500.00│ 1896900.00│
│应收票据及应收账款 │ 386000.00│ 339800.00│ 300700.00│ 177400.00│ 301100.00│ 191400.00│
│合同资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│预付款项 │ 333800.00│ 248200.00│ 318900.00│ 296700.00│ 511300.00│ 294900.00│
│其他应收款 │ 9200.00│ 9500.00│ 6600.00│ 6800.00│ 2700.00│ 6200.00│
│流动资产合计 │ 2488800.00│ 2449200.00│ 2825000.00│ 2711900.00│ 2923200.00│ 3242300.00│
│可出售金融资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│长期股权投资 │ 406600.00│ 421100.00│ 384000.00│ 348600.00│ 316900.00│ 307100.00│
│固定资产净额 │ 5486100.00│ 5527200.00│ 5184200.00│ 4869200.00│ 4698500.00│ 4789500.00│
│在建工程 │ 150000.00│ 237300.00│ 580200.00│ 688700.00│ 673200.00│ 464400.00│
│无形资产 │ 607500.00│ 635200.00│ 671000.00│ 682000.00│ 655300.00│ 608500.00│
│商誉 │ ---│ ---│ ---│ ---│ ---│ ---│
│非流动资产合计 │ 7116200.00│ 7155500.00│ 7232800.00│ 6989500.00│ 6770300.00│ 6510300.00│
│资产总计 │ 9605000.00│ 9604700.00│ 10057800.00│ 9701400.00│ 9693500.00│ 9752600.00│
│应付票据及应付账款 │ 2784500.00│ 2522600.00│ 2623800.00│ 2448400.00│ 2059700.00│ 1799300.00│
│预收款项 │ ---│ ---│ ---│ ---│ ---│ ---│
│合同负债 │ 493500.00│ 473800.00│ 455700.00│ 518600.00│ 639300.00│ 863100.00│
│流动负债 │ 4567800.00│ 4362200.00│ 3943900.00│ 3518800.00│ 3615400.00│ 3055000.00│
│长期借款 │ 612300.00│ 612100.00│ 1099100.00│ 519900.00│ 60000.00│ 365000.00│
│长期应付款 │ 32100.00│ 32100.00│ 36700.00│ 13500.00│ 11900.00│ 48000.00│
│非流动负债 │ 905900.00│ 744300.00│ 1246800.00│ 643500.00│ 198400.00│ 678400.00│
│负债合计 │ 5473700.00│ 5106500.00│ 5190700.00│ 4162300.00│ 3813800.00│ 3733400.00│
│实收资本 │ 936900.00│ 936900.00│ 938300.00│ 938400.00│ 940300.00│ 940500.00│
│资本公积金 │ 3411400.00│ 3415500.00│ 3392000.00│ 3385300.00│ 3387900.00│ 3360400.00│
│盈余公积 │ 449900.00│ 445700.00│ 445700.00│ 445700.00│ 445700.00│ 445200.00│
│未分配利润 │ -836800.00│ -438900.00│ -32100.00│ 679700.00│ 1025200.00│ 1217900.00│
│少数股东权益 │ 134600.00│ 110200.00│ 99200.00│ 68700.00│ 65700.00│ 52600.00│
│归属母公司权益 │ 3996700.00│ 4388000.00│ 4767900.00│ 5470400.00│ 5814000.00│ 5966600.00│
│股东权益合计 │ 4131300.00│ 4498200.00│ 4867100.00│ 5539100.00│ 5879700.00│ 6019200.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│资产负债指标(万元) │ 2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│货币资金 │ 408200.00│ 517500.00│ 420300.00│ 391300.00│ 364900.00│ 313400.00│
│存货 │ 1108100.00│ 1092800.00│ 1095600.00│ 1199300.00│ 1216900.00│ 1385300.00│
│应收票据及应收账款 │ 386000.00│ 398900.00│ 379200.00│ 339800.00│ 322300.00│ 294600.00│
│合同资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│预付款项 │ 333800.00│ 292200.00│ 254200.00│ 248200.00│ 334400.00│ 279400.00│
│其他应收款 │ 9200.00│ 9100.00│ 9200.00│ 9500.00│ 11000.00│ 10400.00│
│流动资产合计 │ 2488800.00│ 2567100.00│ 2362700.00│ 2449200.00│ 2593500.00│ 2660000.00│
│可出售金融资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│长期股权投资 │ 406600.00│ 401500.00│ 428000.00│ 421100.00│ 400400.00│ 380400.00│
│固定资产净额 │ 5486100.00│ 5469300.00│ 5492400.00│ 5527200.00│ 5248700.00│ 5271400.00│
│在建工程 │ 150000.00│ 211800.00│ 219900.00│ 237300.00│ 469600.00│ 480600.00│
│无形资产 │ 607500.00│ 617400.00│ 625700.00│ 635200.00│ 641900.00│ 653100.00│
│商誉 │ ---│ ---│ ---│ ---│ ---│ ---│
│非流动资产合计 │ 7116200.00│ 7169600.00│ 7090700.00│ 7155500.00│ 7155800.00│ 7182100.00│
│资产总计 │ 9605000.00│ 9736700.00│ 9453400.00│ 9604700.00│ 9749300.00│ 9842100.00│
│应付票据及应付账款 │ 2784500.00│ 2689900.00│ 2495600.00│ 2522600.00│ 2481000.00│ 2451300.00│
│预收款项 │ ---│ ---│ ---│ ---│ ---│ ---│
│合同负债 │ 493500.00│ 435600.00│ 484100.00│ 473800.00│ 505900.00│ 491700.00│
│流动负债 │ 4567800.00│ 4498500.00│ 4193300.00│ 4362200.00│ 4512300.00│ 4543600.00│
│长期借款 │ 612300.00│ 642300.00│ 769300.00│ 612100.00│ 394400.00│ 388000.00│
│长期应付款 │ 32100.00│ 32100.00│ 32100.00│ 32100.00│ 50800.00│ 36700.00│
│非流动负债 │ 905900.00│ 937400.00│ 901600.00│ 744300.00│ 557800.00│ 534000.00│
│负债合计 │ 5473700.00│ 5435900.00│ 5094900.00│ 5106500.00│ 5070100.00│ 5077600.00│
│实收资本 │ 936900.00│ 936900.00│ 936900.00│ 936900.00│ 936900.00│ 936900.00│
│资本公积金 │ 3411400.00│ 3381600.00│ 3415500.00│ 3415500.00│ 3392400.00│ 3390700.00│
│盈余公积 │ 449900.00│ 449900.00│ 445700.00│ 445700.00│ 445700.00│ 445700.00│
│未分配利润 │ -836800.00│ -638100.00│ -584600.00│ -438900.00│ -236100.00│ -146500.00│
│少数股东权益 │ 134600.00│ 137200.00│ 113700.00│ 110200.00│ 105600.00│ 103500.00│
│归属母公司权益 │ 3996700.00│ 4163600.00│ 4244800.00│ 4388000.00│ 4573600.00│ 4661000.00│
│股东权益合计 │ 4131300.00│ 4300800.00│ 4358500.00│ 4498200.00│ 4679200.00│ 4764500.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【8.利润表摘要】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│利润表指标(万元) │ 2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业总收入 │ 6986600.00│ 9605200.00│ 10510100.00│ 11350200.00│ 13107200.00│ 13667400.00│
│营业总成本 │ 7422800.00│ 10062200.00│ 11230800.00│ 11795000.00│ 13221700.00│ 12765000.00│
│营业税金及附加 │ 63400.00│ 95400.00│ 85000.00│ 84600.00│ 108300.00│ 103100.00│
│销售费用 │ 33900.00│ 53400.00│ 56000.00│ 62800.00│ 60000.00│ 59600.00│
│财务费用 │ 34200.00│ 30500.00│ 26600.00│ 25800.00│ 48700.00│ 49000.00│
│管理费用 │ 78700.00│ 109600.00│ 133900.00│ 168900.00│ 129800.00│ 145900.00│
│资产减值损失 │ -39800.00│ -34800.00│ -68000.00│ -13100.00│ 33700.00│ -30600.00│
│公允价值变动净收益 │ 1900.00│ 5300.00│ 7100.00│ 4500.00│ 18500.00│ -6500.00│
│投资收益 │ 28300.00│ 50300.00│ 55600.00│ 31700.00│ 23700.00│ 33100.00│
│营业利润 │ -386100.00│ -389700.00│ -695300.00│ -414900.00│ -21800.00│ 898500.00│
│营业外收入 │ 1500.00│ 4400.00│ 3800.00│ 5400.00│ 5900.00│ 5800.00│
│营业外支出 │ 3000.00│ 4100.00│ 12000.00│ 4700.00│ 11000.00│ 12300.00│
│利润总额 │ -387600.00│ -389400.00│ -703500.00│ -414200.00│ -26900.00│ 892000.00│
│所得税 │ 6900.00│ 9900.00│ 5900.00│ -91900.00│ -45500.00│ 196100.00│
│净利润 │ -394500.00│ -399300.00│ -709400.00│ -322300.00│ 18600.00│ 695900.00│
│归属母公司净利润 │ -403400.00│ -406800.00│ -712200.00│ -325700.00│ 15600.00│ 692500.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│利润表指标(万元) │ 2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业总收入 │ 6986600.00│ 4590700.00│ 2202100.00│ 9605200.00│ 7309200.00│ 4859900.00│
│营业总成本 │ 7422800.00│ 4832800.00│ 2349500.00│ 10062200.00│ 7562900.00│ 4995600.00│
│营业税金及附加 │ 63400.00│ 43300.00│ 21300.00│ 95400.00│ 74500.00│ 52700.00│
│销售费用 │ 33900.00│ 21400.00│ 9900.00│ 53400.00│ 35500.00│ 23100.00│
│财务费用 │ 34200.00│ 23500.00│ 10700.00│ 30500.00│ 25300.00│ 17000.00│
│管理费用 │ 78700.00│ 49100.00│ 24600.00│ 109600.00│ 92400.00│ 48600.00│
│资产减值损失 │ -39800.00│ -21900.00│ -14400.00│ -34800.00│ -14200.00│ -8100.00│
│公允价值变动净收益 │ 1900.00│ 3900.00│ 1700.00│ 5300.00│ 5500.00│ -1200.00│
│投资收益 │ 28300.00│ 23300.00│ 4700.00│ 50300.00│ 39800.00│ 21800.00│
│营业利润 │ -386100.00│ -191400.00│ -138800.00│ -389700.00│ -193100.00│ -108600.00│
│营业外收入 │ 1500.00│ 800.00│ 400.00│ 4400.00│ 2600.00│ 2100.00│
│营业外支出 │ 3000.00│ 1800.00│ 1300.00│ 4100.00│ 1400.00│ 400.00│
│利润总额 │ -387600.00│ -192400.00│ -139700.00│ -389400.00│ -191900.00│ -106900.00│
│所得税 │ 6900.00│ 5500.00│ 3000.00│ 9900.00│ 6600.00│ 4500.00│
│净利润 │ -394500.00│ -197900.00│ -142700.00│ -399300.00│ -198500.00│ -111400.00│
│归属母公司净利润 │ -403400.00│ -204700.00│ -145700.00│ -406800.00│ -204000.00│ -114400.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【9.现金流量表摘要】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│现金流量指标(万元) │ 2026-09-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│经营活动现金流入 │ 7809600.00│ 10269500.00│ 9615900.00│ 11517700.00│ 13319300.00│ 14365600.00│
│经营活动现金流出 │ 7563800.00│ 10090700.00│ 9694600.00│ 11359800.00│ 12705400.00│ 13081000.00│
│经营活动现金流量净额│ 245800.00│ 178800.00│ -78700.00│ 157900.00│ 613900.00│ 1284600.00│
│投资活动现金流入 │ 191100.00│ 355700.00│ 72700.00│ 32700.00│ 40900.00│ 50100.00│
│投资活动现金流出 │ 530100.00│ 745600.00│ 445400.00│ 327700.00│ 437800.00│ 467200.00│
│投资活动现金流量净额│ -339000.00│ -389900.00│ -372700.00│ -295000.00│ -396900.00│ -417100.00│
│筹资活动现金流入 │ 1746700.00│ 2148300.00│ 1951100.00│ 1019400.00│ 317400.00│ 502700.00│
│筹资活动现金流出 │ 1643900.00│ 2001200.00│ 1377200.00│ 1072800.00│ 564900.00│ 1365500.00│
│筹资活动现金流量净额│ 102800.00│ 147100.00│ 573900.00│ -53400.00│ -247500.00│ -862800.00│
│汇率变动对现金的影响│ ---│ ---│ ---│ 3300.00│ ---│ ---│
│现金及等价物净增加额│ 9600.00│ -64000.00│ 122500.00│ -187200.00│ -30500.00│ 4700.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│现金流量指标(万元) │ 2026-09-30│ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│经营活动现金流入 │ 7809600.00│ 5046800.00│ 2453700.00│ 10269500.00│ 7680400.00│ 4970100.00│
│经营活动现金流出 │ 7563800.00│ 4879600.00│ 2407000.00│ 10090700.00│ 7483600.00│ 4929600.00│
│经营活动现金流量净额│ 245800.00│ 167200.00│ 46700.00│ 178800.00│ 196800.00│ 40500.00│
│投资活动现金流入 │ 191100.00│ 120900.00│ 36300.00│ 355700.00│ 235300.00│ 146900.00│
│投资活动现金流出 │ 530100.00│ 366800.00│ 131000.00│ 745600.00│ 456400.00│ 340500.00│
│投资活动现金流量净额│ -339000.00│ -245900.00│ -94700.00│ -389900.00│ -221100.00│ -193600.00│
│筹资活动现金流入 │ 1746700.00│ 1604600.00│ 702500.00│ 2148300.00│ 1652600.00│ 1275400.00│
│筹资活动现金流出 │ 1643900.00│ 1405300.00│ 625700.00│ 2001200.00│ 1717800.00│ 1263300.00│
│筹资活动现金流量净额│ 102800.00│ 199300.00│ 76800.00│ 147100.00│ -65200.00│ 12100.00│
│汇率变动对现金的影响│ ---│ ---│ ---│ ---│ ---│ ---│
│现金及等价物净增加额│ 9600.00│ 120600.00│ 28800.00│ -64000.00│ -89500.00│ -141000.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【10.环比分析】
┌──────┬───────┬───────┬───────┬───────┐
│2025年度 │主营收入(万元)│ 占年度比重(%)│ 净利润(万元)│ 占年度比重(%)│
├──────┼───────┼───────┼───────┼───────┤
│一季报 │ 2507900.00│ 26.11│ -55400.00│ 13.62│
│二季报 │ 2352000.00│ 24.49│ -59000.00│ 14.50│
│三季报 │ 2449300.00│ 25.50│ -89600.00│ 22.03│
│四季报 │ 2296000.00│ 23.90│ -202800.00│ 49.85│
└──────┴───────┴───────┴───────┴───────┘
┌──────┬───────┬───────┬───────┬───────┐
│2024年度 │主营收入(万元)│ 占年度比重(%)│ 净利润(万元)│ 占年度比重(%)│
├──────┼───────┼───────┼───────┼───────┤
│一季报 │ 2734300.00│ 26.02│ -165700.00│ 23.27│
│二季报 │ 2810600.00│ 26.74│ -103200.00│ 14.49│
│三季报 │ 2381200.00│ 22.66│ -239500.00│ 33.63│
│四季报 │ 2584000.00│ 24.59│ -203800.00│ 28.62│
└──────┴───────┴───────┴───────┴───────┘
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据上述信息进行投资决策所产生的收益和损失承担任何责任。投资有风险，应谨慎至上。
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