HBIS 河钢股份
7 significant filings since 30 May 2026: 4 on share issue, 2 on dividend and 1 on new listing. The latest, on 23 Sep 2026: 关于永续中期票据发行结果的公告.
自 30 May 2026 起有 7 份重大公告：share issue 4 份、dividend 2 份、new listing 1 份。最新一份（23 Sep 2026）：关于永续中期票据发行结果的公告。
As of 25 Sep 2026 截至2026年9月25日
HBIS 河钢股份 is a steel producer listed on the Shenzhen Stock Exchange since 1997. The company reported higher attributable net profit in 2025 at RMB1.00bn, up from RMB707.4m in 2024, with revenue declining slightly to RMB118.14bn. Profit quality is strong, with operating cash flow at 9.30x net profit in 2025. However, financial risk is elevated due to high leverage and weak short-term liquidity. Liabilities stood at 74.7% of assets as of 30 Jun 2026, and the current ratio was 0.50, indicating current liabilities exceed current assets. The company remains under pressure from declining margins and a challenging market environment, as seen in the 2026 half-year results showing flat revenue and slowing profit growth.
河钢股份是1997年在深交所上市的钢铁生产企业。2025年归母净利润增至10.02亿元，高于2024年的7.07亿元，营业收入微降至1,181.37亿元。盈利质量良好，2025年经营现金流与净利润之比达9.30倍。但公司财务风险较高，资产负债率达74.7%，流动比率0.50，显示短期偿债能力偏弱。2026年上半年数据显示营收基本持平，利润增速放缓，反映行业环境仍具挑战。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Liabilities at 70% of assets or more 资产负债率达70%或以上 | High financial leverage with liabilities at 74.7% of assets. 资产负债率高达74.7%，财务杠杆偏高。 | High leverage reduces financial flexibility and increases refinancing risk, especially if operating conditions weaken. It may limit the company's ability to raise debt in stress scenarios. 高杠杆削弱财务弹性，若经营环境恶化将增加再融资风险，可能限制公司在压力下的债务融资能力。 |
| Current ratio below 1: current liabilities exceed current assets 流动比率低于1：流动负债超过流动资产 | Current ratio below 1, at 0.50, indicating short-term liquidity risk. 流动比率0.50，低于1，存在短期流动性风险。 | Current liabilities exceed current assets, which could strain cash management if payables come due. The company may need to rely on external financing or asset sales to meet obligations. 流动负债超过流动资产，若应付账款集中到期，可能对现金流管理造成压力，公司或需依赖外部融资或资产变现偿债。 |
- Change in attributable net profit for the full year 2026 compared to 2025.
2026全年归母净利润相较2025年的变动情况。 - Operating cash flow to net profit ratio in the 2026 annual report.
2026年报中经营现金流与净利润之比。 - Liabilities to assets ratio as of 31 Dec 2026.
截至2026年12月31日的资产负债率。 - Revenue trend in the 2026 full-year report compared to 2025.
2026全年报告中营业收入相较2025年的变化趋势。 - Change in receivable days and inventory days as of year-end 2026.
2026年末应收账款周转天数与存货周转天数的变化。 - Any update on the controlling shareholder's pledged shares or ownership changes.
控股股东股份质押或持股变动的最新情况。
- Company: HBIS 河钢股份, Shenzhen Stock Exchange 000709; industry Ordinary Steel; listed 16 Apr 1997.
公司：河钢股份，深圳证券交易所 000709；行业：普钢；上市日期：1997年4月16日。 - Close on 24 Sep 2026 RMB2.01; close on 24 Sep 2025 RMB2.41, RMB2.36 in today's terms; one-year change, adjusted for distributions and share changes -15.0%.
2026年9月24日收盘价2.01元；2025年9月24日收盘价2.41元（前复权2.36元）；一年涨跌幅（复权）-15.0%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB1.90 to RMB2.65.
52周区间（前复权）1.90元至2.65元。 - Market capitalisation RMB20.78bn; P/E TTM 19.9; price to book 0.40x.
总市值207.78亿元；市盈率（TTM）19.9；市净率0.40倍。 - Revenue 2025 RMB118.14bn; 2024 RMB121.62bn; change -2.9%.
营业收入2025年1,181.37亿元；2024年1,216.17亿元；同比-2.9%。 - Attributable net profit 2025 RMB1.00bn; 2024 RMB707.4m; change +41.6%.
归属于母公司股东的净利润2025年10.02亿元；2024年7.07亿元；同比+41.6%。 - Net profit excluding non-recurring items, 2025 change +94.4%.
2025年扣除非经常性损益后的净利润同比+94.4%。 - Basic EPS 2025 RMB0.08; 2024 RMB0.05.
基本每股收益2025年0.08元；2024年0.05元。 - Operating cash flow per share 2025 RMB0.96; 2024 RMB0.94; operating cash flow to net profit 9.30x.
每股经营现金流2025年0.96元；2024年0.94元；经营现金流与净利润之比9.30倍。 - 2025 gross margin 10.7%; net margin 0.9%; ROE 1.6%.
2025年毛利率10.7%；净利率0.9%；净资产收益率1.6%。 - At 30 Jun 2026: liabilities to assets 74.7%; current ratio 0.50; quick ratio 0.34; receivable days 4; inventory days 66.
截至2026年6月30日：资产负债率74.7%；流动比率0.50；速动比率0.34；应收账款周转天数4；存货周转天数66。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB65.88bn, change -0.6%; attributable net profit RMB637.6m, change +6.6%; operating cash flow per share RMB0.62.
截至2026年6月30日的报告期（六个月，不可与上述全年数据直接比较）：营业收入658.78亿元，同比-0.6%；归母净利润6.38亿元，同比+6.6%；每股经营现金流0.62元。 - Ownership: controlling shareholder 邯郸钢铁集团有限责任公司; actual controller 河北省人民政府国有资产监督管理委员会; largest holder at 30 Jun 2026: 邯郸钢铁集团有限责任公司, 41.29%.
股权：控股股东：邯郸钢铁集团有限责任公司；实际控制人：河北省人民政府国有资产监督管理委员会；2026年6月30日第一大股东：邯郸钢铁集团有限责任公司，持股41.29%。 - Latest distribution: ex-date 23 Jul 2026, cash RMB0.04 per share.
最近一次分配：除权除息日2026年7月23日，每股现金0.04元。 - Aurelian Grade C, score 64.6 of 100, graded within a peer group of 23 companies in its industry; no rank among peers is given.
金源评级C，得分64.6（满分100），于行业同业23家中评定；未提供其在同业中的排名。 - Not held for this report: receivable ageing, litigation case amounts, the order book, the auditor's opinion and key audit matters, segment revenue.
本报告未掌握：应收账款账龄、诉讼案件金额、在手订单、审计意见及关键审计事项、分部收入。