200761.SZ深圳证券交易所 · B股 B-share
Bengang Steel Plates 本钢板B
HK$0.90−HK$0.02 · −2.17%
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HK$0.91
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HK$0.91
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HK$0.90
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HK$0.92
Volume 成交量
18.2万股
Turnover 成交额
HK$16.5万
Mkt Cap 总市值
HK$37亿
P/E 市盈率
−0.7×
Recent Activity 近期动态All Filings 全部公告 →
No significant filings since 30 May 2026.
自 30 May 2026 起无重大公告。
1.001.251.501.752.002.25
Volume 成交量
1,188.7万
20212022202420252026
Overview 概览Deep Report 深度报告Financials 财务Valuation 估值Ownership 股东Analysts 券商Estimates 预测News 动态Events 事件Peers 同业
As of 25 Sep 2026 截至2026年9月25日
Assessment 评估
Bengang Steel Plates 本钢板B, listed on the Shenzhen Stock Exchange, operates in an undisclosed industry. The company reported a narrower net loss of -RMB3.94bn in 2025 compared to -RMB5.04bn in 2024, with revenue declining to RMB46.39bn from RMB51.27bn. Despite the improved loss, the company remains unprofitable, with a negative gross margin of -4.4% and a return on equity of -39.7%. Operating cash flow per share turned negative in 2025 at -RMB0.44, down from an inflow of RMB0.27 in 2024. Liabilities represent 87.4% of assets as of 30 Jun 2026, with a weak liquidity position: the current ratio is 0.37 and the quick ratio is 0.15. In the first half of 2026, the loss widened to -RMB1.91bn, raising concerns about financial stability.
本钢板B在深交所上市，所属行业未披露。公司2025年归母净利润亏损收窄至-39.42亿元，较2024年-50.37亿元有所改善，营业收入从512.66亿元降至463.92亿元。尽管亏损收窄，公司仍处于亏损状态，2025年毛利率为-4.4%，净资产收益率为-39.7%。每股经营现金流由2024年0.27元转为2025年-0.44元。截至2026年6月30日，资产负债率为87.4%，流动性薄弱，流动比率0.37，速动比率0.15。2026年上半年亏损扩大至-19.08亿元，财务稳定性存忧。
Risk Register 风险登记
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Attributable net loss in 2025 2025年归母净利润亏损 | The company reported a net loss in 2025. 公司2025年报告净亏损。 | A continued net loss undermines shareholder value and long-term viability. Although the loss narrowed compared to 2024, the company remains unprofitable, which may limit its ability to invest or withstand downturns. 持续净亏损损害股东价值和长期生存能力。尽管亏损较2024年收窄，公司仍处于亏损状态，可能限制其投资能力或抗风险能力。 |
| Operating cash outflow 经营现金净流出 | Operating cash flow per share was negative in 2025. 2025年每股经营现金流为负。 | Negative operating cash flow indicates the core business is not generating sufficient cash, increasing reliance on financing or asset sales. This weakens financial resilience, especially during stress periods. 经营现金流为负表明主营业务未能产生足够现金，增加对融资或资产出售的依赖，削弱财务韧性，尤其在压力时期。 |
| Liabilities at 70% of assets or more 资产负债率达70%或以上 | Liabilities are at 87.4% of assets. 负债占资产比例达87.4%。 | High leverage reduces financial flexibility and increases refinancing risk. With liabilities close to total assets, the company has limited buffer against losses or asset write-downs. 高杠杆降低财务灵活性，增加再融资风险。负债接近总资产，公司应对亏损或资产减值的缓冲空间有限。 |
| 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 | The current ratio is below 1, at 0.37. 流动比率低于1，为0.37。 | A current ratio below 1 means current liabilities exceed current assets, indicating potential short-term liquidity stress. The company may struggle to meet near-term obligations without external support. 流动比率低于1意味着流动负债超过流动资产，显示短期流动性压力。公司可能难以在没有外部支持的情况下履行近期债务。 |
What to Watch 关注要点
- Whether the attributable net loss in the full year 2026 narrows or widens compared to 2025.
2026全年归母净利润亏损是否较2025年收窄或扩大。 - The direction of operating cash flow per share in the full year 2026.
2026全年每股经营现金流的正负方向。 - Change in revenue in the full year 2026 compared to 2025.
2026全年营业收入较2025年的变动情况。 - The level of liabilities to assets as of 31 Dec 2026.
截至2026年12月31日的负债占资产比例。 - Whether the current ratio remains below 1 as of 31 Dec 2026.
截至2026年12月31日流动比率是否仍低于1。 - The net profit excluding non-recurring items for full year 2026.
2026全年扣除非经常性损益后的净利润表现。
Facts 事实
- Company: Bengang Steel Plates 本钢板B, Shenzhen Stock Exchange 200761; industry not shown; listed 8 Jul 1997.
公司：本钢板B，深圳证券交易所 200761；行业：未披露；上市日期：1997年7月8日。 - Close on 24 Sep 2026 HK$0.90; close on 24 Sep 2025 HK$1.30; one-year change -30.8%.
2026年9月24日收盘价0.90港元；2025年9月24日收盘价1.30港元；一年涨跌幅-30.8%。 - 52-week range HK$0.80 to HK$1.31.
52周区间0.80港元至1.31港元。 - Market capitalisation HK$3.70bn; P/E TTM not meaningful (loss-making); price to book not shown.
总市值36.98亿港元；市盈率（TTM）不适用（亏损）；市净率未披露。 - Revenue 2025 RMB46.39bn; 2024 RMB51.27bn; change -9.5%.
营业收入2025年463.92亿元；2024年512.66亿元；同比-9.5%。 - Attributable net profit 2025 -RMB3.94bn; 2024 -RMB5.04bn; change +21.7% (the loss narrowed).
归属于母公司股东的净利润2025年-39.42亿元；2024年-50.37亿元；同比+21.7%（亏损收窄）。 - Net profit excluding non-recurring items, 2025 change +22.9%.
2025年扣除非经常性损益后的净利润同比+22.9%。 - Basic EPS 2025 -RMB0.96; 2024 -RMB1.23.
基本每股收益2025年-0.96元；2024年-1.23元。 - Operating cash flow per share 2025 -RMB0.44; 2024 RMB0.27.
每股经营现金流2025年-0.44元；2024年0.27元。 - 2025 gross margin -4.4%; net margin -8.3%; ROE -39.7%.
2025年毛利率-4.4%；净利率-8.3%；净资产收益率-39.7%。 - At 30 Jun 2026: liabilities to assets 87.4%; current ratio 0.37; quick ratio 0.15; receivable days 10; inventory days 48.
截至2026年6月30日：资产负债率87.4%；流动比率0.37；速动比率0.15；应收账款周转天数10；存货周转天数48。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB22.34bn, change -9.6%; attributable net profit -RMB1.91bn, change -36.3% (the loss widened); operating cash flow per share RMB0.17.
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223.36亿元，同比-9.6%；归母净利润-19.08亿元，同比-36.3%（亏损扩大）；每股经营现金流0.17元。 - Ownership: actual controller 鞍钢集团有限公司; controlling shareholder 本溪钢铁(集团)有限责任公司; largest holder at 30 Jun 2026: 本溪钢铁(集团)有限责任公司, 58.65%.
股权：实际控制人：鞍钢集团有限公司；控股股东：本溪钢铁(集团)有限责任公司；2026年6月30日第一大股东：本溪钢铁(集团)有限责任公司，持股58.65%。 - No distribution is held in this database, which begins on 1 Jan 2026; earlier distributions are not shown.
本数据库自2026年1月1日起记录，其中无该公司的分配记录；此前的分配未予显示。 - 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。