Reuse world

The past three years, Jinan Iron and Steel (600,022) Company in the plates and plate production and sales have been among the best in the country. In the possession of medium plate, plates, small profiles on the basis of the production line, through the issuance of the Jinan Iron and Steel Group’s goal after the completion of the acquisition of assets, will have a hot-rolled, cold-rolled high-value-added product lines and gas-fired power generation and other auxiliary production system, substantial increase in steel production capacity, product mix and a more abundant, a substantial reduction in related party transactions, with the scale, further play, the core competitiveness greatly enhanced.

points

investment industry’s leading plate manufacturers. Company is the largest plate manufacturers, market share and product scale and related technology leads the industry level. Meanwhile, the company’s products and variety than the High rank than the industry forefront. The company’s shipbuilding plate, container plate and boiler plate of the market share in the forefront of the industry. In 2007, the company’s production of plates, plate total 3.51 million tons, operating income of 15.8 billion.

takeover target assets will enhance the company’s strengths and the overall strength of plate. Jinan Iron and Steel Group’s acquisition of target assets, the company’s product variety will be further enriched. In the Company’s products in the original boards and plates, profiles, billets, coke and other products based on the increase in cold-rolled products, power and transportation, to further enhance the company’s sheet products in the competitive advantage and the ability to withstand market risks . Enlarge the size of the company’s assets, net assets of 5.5 billion, net assets of 6.07 billion targeted assets. Through the acquisition of target assets, the company had net assets of 10 billion, greatly enhancing the company’s size and overall strength. After completion of the acquisition, the Company and Jinan Iron and Steel Group, the total amount of related party transactions, sales and purchases to related parties associated transaction amount will be greatly reduced, accounting for revenues associated with the proportion of sales and operating costs associated with purchase accounting for the proportion dropped significantly.

hot-rolled sheet metal in 2008 is expected to produce 2.5 million tons, cold-rolled sheet metal production capacity to 80 million tons in 2009 to reach 1.06 million tons produced. Meanwhile, in 2008 the company invested in new heavy plate production line has been groundbreaking is expected in the second half of 2009 put into production in 2010 produced 2 million tons, becoming another company’s future profit growth.

profit forecasts: additional completed, the company in 2008 fully diluted EPS was 1.21 yuan, 2009 and 2010, respectively, 1.42 yuan and 1.69 yuan. With the goal of completion of the acquisition of assets and the new plate production line started construction, the company’s future profit levels will be greatly improved.

1, the nation’s largest manufacturer of

plate Jinan Iron and Steel Co., Ltd. was founded in December 2000, is by the Jinan Iron and Steel Group Co., Ltd. as the main sponsor, the joint Laiwu Iron and Steel Group Co., Ltd., Shandong Gold Group Co., Ltd., Shandong Jinling Iron Ore and fire-resistant materials, Shandong Province, the company co-sponsored by four corporate enterprises set up by large steel company.

Jinan Iron and Steel has, from raw materials, sintering, pelletizing, iron making, steel making to the production process of rolling a complete system, with the independent market-oriented production, supply, distribution system, is mainly engaged in iron and steel products production and sales of It is China’s largest production base plate. Since its inception, the company continues to accelerate technological innovation, has built the most advanced large-scale pellet vertical furnace; full use of metallurgical cutting-edge technology with world-class level of 1750 cubic meters of blast furnace and 120t converter; domestic original, first-class casting technology, billet hot charging and direct rolling process of regenerative walking beam reheating furnace; domestic rolling with the greatest accuracy of the highest plate mill; formed a 1750 cubic meters of blast furnace -120 t converter - plate mill domestic first-class, international advanced modern production lines. Well equipped to ensure the product quality, raising the grade of products, maintaining the leading market competitive advantage.

1. Jinan Iron and Steel main business is producing and selling steel products, billets and other steel products, the main source of revenue and profit for the plate (in plate, plate), profiles, and billets and other products. Main business income of the last 3 years, respectively 20.784 billion, 22.828 billion, 29.544 billion in total revenue in the proportion of 85.77%, 85.71% and 87.89%.

2. Industry Status

market concentration due to the company’s sales in China, therefore, the company’s competitors, mainly from domestic steel manufacturers. The company as the main body of the Jinan Iron and Steel Group in the domestic and international steel industry, the rapid rise in rankings. In 2007, the nation’s major iron and steel enterprise groups, crude steel, rolled steel output ranked in the company as the main body of the Jinan Iron and Steel Group, the country rankings are ranked No. 8.

2, the industry leading edge highlight

1, medium plate and the plate of the domestic market share ranked number, production and marketing rate of successive years of super 95%. Company’s three steel - plate - heat treatment production line is China’s most advanced medium-thick plate production line, one can produce high-purity, high-tech steels, reaching similar enterprises in the production of the highest level of the lowest-cost leader . Plate the country’s largest production and export enterprises.

2, species with high post-secondary ratio than the increase year after year, and among the best in the country. With the company’s ongoing transformation of the production process, gradually raise the proportion of special plates to enhance the company against market risk, the risk of a single product, but also improve the company’s technological level and R & D capabilities.

3, companies, board, plate finished product rate is 92% or more; process consume less power than 2GJ / t; rolling average hourly output reached 150t / h. These production targets are among the best in the country.

4, the future of the new plate production line, will further bring into China’s Jinan Steel to build a base plate fine.

5, acquisition targets and assets, cold-rolled sheet will further enhance the company’s capacity and core competitiveness.

6, the company to build recycling economy, has achieved initial results. In the energy saving, environmental protection, governance, relevant departments of the State repeatedly recognized.

3, iron and steel industry development trend was good

1.

Proportion of the market structure in recent years, strong domestic market demand, the 2007 timeline view of the domestic steel consumption reached 51,425 million tons, while domestic crude steel production has increased year by year, in 2007 the domestic crude steel production by 2006, rising to 42,298.86 million tonnes of 48,924.08 million tonnes, an increase of 6,625.22 million tons, an increase of 15.66%, the domestic crude steel production to enhance the growing iron and steel industry of China’s ability to meet domestic demand in 2006, domestic steel the domestic market share of over 97%, a record high for China’s national economic development made a significant contribution. In 2007 China’s crude steel output of 48,924.08 million tonnes, accounting for the proportion of the world’s crude steel production reached more than 35%. According to terms of steel in 2007, apparent steel consumption of the domestic market for 51,425 tons, the world’s iron and steel industry has played an important role in promoting.

2. Adjustment of product structure of China’s steel production made significant progress in

2007 industry-wide production of 56,460.81 million tonnes of steel, up 22.69 percent. In which the major varieties of steel-year growth in total output of the top eight were: hot-rolled sheet by 2.8069 million tons, an increase of 45.3%; other steel products by 3.2106 million tons, an increase of 45.3%; thick steel plate by 4.9839 million tons, an increase of 39.1%; Thick wide strip by 17.5694 million tons, an increase of 38.7%; plating plate (belt) by 4.8216 million tons, an increase of 37.9%; special plate 1.1614 million tons, an increase of 36.8%; coated plate (belt) by 841.5 thousand tons, increase of 36.1%; in the plate by 7.5984 million tons, an increase of 33.4%. The above shows that in 2007 industry-wide steel products, structural adjustment and optimization achieved a major breakthrough.

3. Differences between domestic and international steel market

At present, the domestic and international steel market presence spreads, which will help the sustainable development of China’s steel industry. Steel price adjustments in the international market by more than domestic, but also the trend of widening, and the international steel prices higher than domestic levels. This is China’s steel exports are a positive factor, is conducive to maintaining China’s steel prices, high operational and post-steel market stability.

4. Predict the future consumption of crude steel and steel

According to China Iron and Steel Industry Association of the Metallurgical Industry Planning Research Institute, Economic Development Research Center of Metallurgical Industry, Metallurgical Industry Information Standards Institute and other research institutions in the three latest forecast by 2010, crude steel consumption will reach 510 million -5.5 million tons, excluding repeat the material of the steel consumption forecast of 480 million -5.2 million tons. Estimated the total actual demand for steel products in 2012 will be a breakthrough 600 million tons by 2015 may reach 600 million of about 5 million tons.

5. Integrated iron and steel enterprises is imperative to

reform and opening up, due to the implementation of the planned economic system, so that the layout of China’s steel industry is very fragmented, with the exception of Tibet, each province, autonomous regions and municipalities have the iron and steel enterprises. After the reform and opening up, by the impact of changes in market demand for steel, iron and steel industry in the development focus of China’s gradual shift from north to south, northeast China’s steel production accounts for a corresponding decline in the proportion of steel production in North China, East China’s steel production accounts for marked increase in the proportion of steel production , where the focus of growth in steel production in the eastern coastal area and the Yangtze River area, the distribution of steel mills are increasingly close to the market.

compared with the world steel industry, China’s steel industry, a lower degree of industrial concentration. In accordance with “Bain classification,” China’s steel industry, far from being able to achieve a more ideal “oligopolies” market structure. For the iron and steel, automobile, shipbuilding industry, such as economies of scale in terms of obvious, “oligopolies” in the market structure has a higher efficiency.从国际上钢铁业市场结构的演变趋势看，受技术进步因素和市场竞争限制减弱的影响，市场集中度的提高是其基本方向。 In 2004, the world’s major countries, CR4 concentration of iron and steel industry are: Brazil 99.0%, South Korea 88.3%, Japan 73.2%, India 67.7%, U.S. 61.1%, Russia 69.2%, the international steel market are almost always oligopoly market, and some even achieve very high oligopoly. China’s steel industry, a lower degree of concentration not only limits the efficiency of the industry, but also weakened the steel industry, as the buyer to purchase the necessary raw materials, energy and other resources of the bargaining power (China in the international steel industry chain is iron ore and other raw materials, the buyer), exacerbated the situation in raw material prices, thereby increasing the volatility of the prices of steel products is not conducive to the healthy development of steel industry, industry restructuring and consolidation is a necessary follow this path.

ability to integrate with the needs of downstream industries, as well as raising the level of specialization, iron and steel industry in the coming years will enhance horizontal integration and restructuring, while jointly with the cooperation of the downstream industries more closely; the coming period will be China iron and steel industry over the next 10 years, the best period of development. In recent years the state’s industrial-control, iron and steel industry, a gradual increase in the degree of concentration, mergers and acquisitions, strategic cooperation frequent, but mainly of large integrated iron and steel enterprises will receive more maternal extensional development opportunities. Iron and steel enterprises in 2008 should be a merger, it is estimated there will be a number of major industry merger integration event occurred in 2010, China’s steel industry will further show the world the situation of the steel giant a few minutes to seize the high ground is the development of the forest forever ly vital initiative. At present, Baosteel Zhanjiang coastal base through the integration of projects Shaoguan Steel and Guangzhou Iron and Steel, and through with Maanshan Iron and Steel, Baotou Steel has established a “strategic alliance”, revealing the intention of expanding; Wuhan iron and steel base will also be the project through the acquisition of Fangchenggang Liu Gang; Anshan Iron and Steel do not backward, the recent unexpected involvement in the Southwest region’s largest enterprises Panzhihua Steel overall market; and increasingly powerful Shandong Iron and Steel Group and the private steel qisha strength of steel can not be ignored.

the future of China’s steel industry consolidation is bound to be a trend, and my form in the next few years, a large number of world-class Iron and Steel Group. Only large-scale iron and steel group in the international market in order to have more development space and greater pricing power and the right to speak.

4, product analysis: Enhanced advantages, expand the diversity of

2007, the Jinan Iron and Steel in the plate, steel plate production accounts for 75.06% of total production, so companies face the risk of product mix and the relative concentration of . The acquisition of Jinan Iron and Steel Group, after the completion of targeted assets, the company leading product varieties of Chinese and boards, plates and small profiles expanded to: plate, plates, small profile, hot-rolled sheet, cold-rolled sheet, avoiding the product structure the relative concentration of risk. Substantial increase in steel production capacity, product mix and a richer, with the scale, further play, the core competitiveness greatly enhanced.

1, medium plate, plate - a major profit growth point

the plate, plate: mainly used in construction, machinery manufacturing, shipping, electricity container and other industries, plate In addition to special-use basically the same plate can be used for welding into the pipe, or a variety of metal structures, sheet metal is mainly used for vehicles, household appliances, canned.

Jinan Iron and Steel is the largest plate manufacturers, market share and product scale and related technologies forefront of the industry for the same time, the company’s products and variety than the High rank than the forefront of the industry. SHIP, container board and boiler plate have a high market share:

Shipbuilding plate: shipbuilding plate market share growth of 6.58% from 2005 to 2007 to 13.06%. Shipbuilding plate market in rising share, also shows the company’s technology and product-level competitive advantage. Moreover, the company’s high-strength steel plate for shipbuilding classification societies certified by the nine countries. As global demand continues to rise in the ship, in particular the substantial increase in demand for bulk carriers, so that orders for shipbuilding enterprises are very full, orders and production tasks have been routed around the year 2009 and 2010, therefore no reduction in demand for steel ships. Shipbuilding industry 6 million tons of steel in 2005, in 2006 to reach 6.37 million tons in 2007 increased substantially to about 9.1 million tons.

shipbuilding industry due to rising costs and shipbuilding cycle, subject to long-term risks brought about the current market expectations for the shipbuilding industry is not very high, and low valuation, but does not mean that the shipbuilding industry of the steel declining demand. In 2008 is projected at 12 million tons in 2009 is projected at 16 million tons, still a huge demand for steel. Jinan Iron and Steel Company and the market share of high SHIP, located in the industry first, the growth of the company’s performance is strong support.

container board: The company’s market share of container board from 2005 to 12.30% and gradually increased to 2007, 21.04 percent, ranking first in the country. In September 2006 the container company’s board awarded the “Chinese famous brand” products title.

boiler vessel steel plate: The company boiler vessel steel plate production ranks first in the country for three consecutive years.

In recent years, the rapid growth of the downstream industry, led to strong demand for the company’s products. In 2007, strong demand by the steel market impact, corporate boards more substantial price increases, leading to 2007 plates have a more significant growth in revenues, gross margins improved significantly. 2007 plate margins of up to 20.7%, an increase of 22%. In 2008, the steel market due to the continued prosperity, and its downstream industries: shipping, construction materials, machinery industry, the rising demand in markets such as the growth plate prices rise, panel products and the company will bring a substantial increase in revenue, will bring with them high profit growth.

the company’s plate production capacity in 2008 will remain stable, as the company invested 1.8 billion yuan in 2008 added a new plate production line, which will in the future to enhance the company’s overall strength plate products. Is expected in 2009 will be put into production in 2010 reached capacity, which will further enhance the company’s plate production capacity. In 2008, because the project has just started is not yet put into production, while the sheet as the company’s main business and profits, one of the main sources, the company will mainly benefit from the significant increase in product prices.

plate showing the overall increase in inventory at the same time, new production line to bring output growth, as well as the export side, due to the slow growth of international prices and export taxes on the additional amount of resources show growth. Two factors in both the price impact. But the market price change will depend on further changes in demand, if the demand because of the excessive rise in prices has been inhibited, then the market risk will be significantly increased. However, according to the current situation, market demand remained strong.

2, cold-hot-rolled sheet - enhance the company’s product diversification level

cold-rolled sheet metal is mainly used for automobiles, electrical equipment, vehicles, farm machinery, container, steel furniture. Target acquisition assets, will have cold-hot-rolled sheet production capacity. Expansion of the company’s product variety, enhance the competitiveness of the company’s board.

cold and hot rolling production line is put into production following the 2007, 2008 will be fully into the capacity and efficiency upgrade stage, the product structure and specification structure will be higher than in 2007 are more substantial changes, increase in the proportion of high value-added products, formation of cold-rolled annealed higher prices to increase sales volumes and prices higher proportion of thin gauge hot-rolled products in 2007 will be about 20% to product design to enhance the outline of over 60%.

hot-rolled plates - HOT STRIP MILL: hot rolling plant has a 1700 hot-rolling production line of a set, is China’s first self-designed development, manufacture, possess independent intellectual property rights of rolling production line, drawing on Anshan Iron and Steel 1700 (ASP) product line, technical characteristics, and optimized, improve and increase; process technology and equipment has reached the international advanced level, the domestic first-class level. Design of 2.5 million tons / year hot-rolled coils, was put into operation in January 2006, the main varieties of thickness 1.5 (1.2) ~ 12.7mm, width 900 ~ 1550mm of carbon structural steel, quality carbon structural steel, low alloy structure steel, weathering steel and pipeline steel. Coil inner diameter Φ762mm, outside diameter Φ1000 ~ 2000mm, the largest volume weight of 27.8 tons, the largest single weight 18kg/mm. In 2007 have all been in full production. In 2008 is expected to maintain production capacity at 250 million tons.

cold-rolled sheet - cold-rolled plate plant: cold-rolled production line is mainly composed by 9 units: continuous pickling line, two-rack rolling mill unit, hood-type annealing furnace unit, flat unit, re-roll sub-volume unit , packing machine, roller, the acid regeneration units, wastewater treatment unit. The main assembly units are used foreign technology, key equipment, the introduction of non-critical equipment, the domestic matching model, the level of equipment has reached the world advanced level in 90 years.

main products are 1.2 ~ 5.0mm thick, 900 ~ 1650mm wide hot pickling volume, 0.3 ~ 2.5mm thick, 900 ~ 1650mm wide cold-rolled product volumes, there are kinds of carbon steel structural steel, high-quality carbon Su structural steel, low alloy high strength steel products are mainly for the building materials industry, taking into account light industry and other industries.

cold-rolled plate plant main production process is advanced technology production lines in Asia, the largest rolling speed: 1350 m / min, 2005 Nian 12 Yue put into operation, the German SMS manufacture. Double-stand reversing cold-rolling machine cold rolling units, the 20th century to meet the mid 90’s production capacity cold-rolling production research and development of a new cold-rolling unit, design annual production volume 1.06 million tons of goods.

2006 cold-rolled plate plant output of 267,000 tons, all varieties of cold-rolled plate for the SPCC; 2007 annual production of 543.4 thousand tons of cold-rolled plate varieties contain not only 10.4 thousand tons SPCD, the other entirely of SPCC.

2007 annual output of 54 million tons, according to the company’s current production capacity growth and demand-driven, in 2008, cold-rolled production capacity will also be significantly increased to the level of 800,000 tons.

is expected in 2008 will be cold-rolled sheet metal stock company for 70 billion yuan of operating income, to become one of the company’s main businesses. After 2008, with the capacity to continually achieve and product prices high, companies in cold-rolled sheet products will benefit greatly from.

the future, cold-rolled sheet metal for the company’s revenue space is very large, with the constant technological improvements and increased capacity, cold-rolled will enhance the company’s overall profit levels. But also to withstand market risks, the company will have more mode selection, to protect the company’s product revenue.

3, profiles, and billet - restructuring in the company’s products the edge of

profile by sub-section size of large, medium and small-scale profiles. Company profiles dominated mainly small section. Main uses: manufacturing, materials, building materials industry.

profiles margins due to lower gross margins in 2007 profiles only 2.2%. In recent years, companies have begun to readjust its product mix, so profiles do not substantially increase production and sales, profiles the proportion of total operating income decreased year by year. In 2007, for the same to good effect by the steel market, profiles the price rise, leading to greater revenue growth profiles. In 2008, the company’s fixed ass…

济南钢铁：高增长，高回报，钢铁绩优蓝筹股

过去三年，济南钢铁（六十万〇二十二）在板块及板块的生产和销售公司已跻身全国最好的。在中板，板，小型材的生产线的基础上占有，通过济南钢铁集团的目标发行后的资产收购完成后，将有热轧，冷轧高增值的产品线和燃气发电等辅助生产系统，钢铁生产能力，产品结构和更丰富，在关联方交易大幅减少的规模，进一步发挥，显着增加，核心竞争力大大提高。

点

投资行业领先的平板制造商。公司是国内最大板制造商，市场占有率和生产规模及相关技术的行业领先水平。同时，公司的产品和品种比比同行业的前列高级军衔。该公司的造船板，容器板，锅炉板的市场占有率在同行业的前列。 2007年，公司生产的板，板总三百五十一点○○○万吨，营业收入158.00亿。

收购目标资产将增强公司的实力及板块的整体实力。济南钢铁集团的目标资产，公司的产品品种的收购将进一步丰富。在原板和板材，型材，钢坯，焦炭，关于冷轧产品，电力，交通等基础产品的增加，公司的产品，以进一步提高竞争优势，该公司的板材产品，并能够抵御市场风险。扩大该公司的资产规模为5.5亿元，净资产60.70亿的目标资产净资产。通过收购目标资产，该公司10亿元的净资产，大大增强了公司的规模和整体实力。收购后，本公司，济南钢铁集团的关联方交易，销售及采购总金额关联交易金额关联方的完成将大大降低，与销售和经营成本的比例相应的收入相关的会计购买时的比重显着下降。

热在2008年薄板有望生产250万吨，冷轧薄板生产能力8000万吨，在2009年达到一百○六万吨生产。与此同时，2008年在新厚板生产线已投入突破性公司是在2009年下半年，预计将在2010年生产到生产200万吨，成为另一家公司未来的利润增长。

盈利预测：额外完成后，2008年公司全面摊薄每股收益为1.21元，2009年和2010年分别1.42元和1.69元。随着资产的收购和新的板材生产线开工建设目标的完成，公司未来盈利水平将会大大提高。

1，全国最大的制造商

板济南钢铁集团有限公司成立于2000年12月，是由济南钢铁集团有限公司作为主要发起人，有限公司的联合莱芜钢铁集团有限公司，山东黄金集团有限公司，山东金岭铁矿和防火材料，该公司山东省的合作，由设立的大型钢铁公司成立四个法人企业赞助。

济南钢铁集团的，从原料，烧结，球团，炼铁，炼钢到轧制一个完整系统的生产工艺与独立的市场，面向生产，供应，分配制度，主要从事钢铁产品的生产和销售中国是最大的板材生产基地。自成立以来，公司继续加快技术创新，建立了最先进的大型球团竖炉，充分利用冶金尖端技术与世界一流的1750高炉和120t转炉立方米的水平，国内原，一流的铸造技术，连铸坯热装和直接的蓄热式加热炉梁步行轧制过程，与最高的中厚板轧机轧制国内最准确，形成了1750高炉-120吨转炉-中厚板轧机立方米国内第一一流，国际先进的现代化生产线。装备精良，确保产品质量，提高产品档次，保持领先的市场竞争优势。

1。济南钢铁集团的主要业务是生产和销售钢材，钢坯等钢铁产品的收入和板（中板利润的主要来源，板），型材及钢坯等产品。主要是最近3年的业务收入，分别20784000000，228.28亿，29.544中的85.77％，85.71％和87.89％的比例总收入亿元。

2。状态

行业的市场集中度主要是从国内的钢铁制造商，由于该公司在中国的销售，因此，该公司的竞争对手。作为济南钢铁集团在国内和国际钢铁产业的主体公司，在排名迅速上升。 2007年，全国主要钢铁企业集团粗钢，钢材产量排名，该公司作为济南钢铁集团，该国的排名是排名第8的主体。

2，行业领先优势突出

1，中板和国内市场的占有率板排名，生产和销售超95％，连续两年率。公司的三大钢铁-板-热处理生产线，是中国最先进的中厚板生产线，可以生产出高纯度，高科技钢材，达到了最低的成本生产的最高级别领导人类似的企业。板全国最大的生产和出口企业。

2种高后逐年增加，比去年中学的比例，并跻身全国最好的。随着公司对生产过程进行改造，逐步提高特殊车牌的比例提高抵御市场风险的公司，单一产品的风险，而且可以改善公司的技术水平和研发能力。

3，公司，板，片成品率为92％或以上;过程中消耗较少的能量比2GJ /吨;滚动平均每小时产量达到150吨/小时这些生产指标都属于全国最好的。

4，新的板材生产线的未来，将进一步使中国的济钢建立底板罚款。

5，收购目标和资产，冷轧薄板将进一步增强公司的能力和核心竞争力。

6，公司建立循环经济，取得了初步成效。在节能，环保，管理，国家有关部门一再确认。

3，钢铁工业发展态势良好

1。

的市场结构中的比重，近年来，国内市场需求强劲，国内钢材消费量2007年达到51425时间线视图万吨，而国内粗钢产量逐年增加，2007年国内粗钢产量到2006年，上升到42,298.86万48,924.08万吨，6,625.22万吨，增长15.66％，国内粗钢产量的增长，提高钢铁的中国有能力满足2006年，国内需求增加，国内产业的增加吨钢超过97％，创下了中国国民经济发展的高度作出重大贡献的国内市场份额。 2007年中国的48,924.08万吨粗钢产量，为世界粗钢产量的比重达到35％以上。据2007年的钢铁方面，国内市场钢材表观为五一四二五吨，世界钢铁业一直是推动消费的重要作用。

2。产品的中国钢铁生产结构调整取得了重大进展，2007年在

行业的56,460.81万吨钢铁，同比增长百分之22.69广泛生产。在其中的主要钢材品种在今年前8名的总产出的增长是由二百八十万六千九吨，比增长45.3％，其他钢铁产品：热轧薄板的三百二十一点零六万吨，比增长45.3％;厚钢板板由四百九十八万三千九百吨，39.1％，增幅;厚宽地带一七五六九四零零吨，比增长38.7％，镀层板（带由四百八十二万一千六百吨，增长37.9％的增幅;特别板一百一十六万一千四吨，增加）为36.8％，涂层板（带由八十四点一五○万吨，增长36.1％），在在标牌七五九八四零零吨，比33.4％的增幅。上述情况表明，2007年全行业钢铁产品结构调整和优化取得了重大突破。

3。国内和国际钢材市场的差异

目前

，国内和国际钢材市场存在的利差，这将有助于中国钢铁工业的可持续发展。在国际市场上钢材价格的调整比国内多，但也逐渐加大的趋势，而高于国内水平的国际钢铁价格。这是中国的钢材出口是一个积极的因素，也有利于维护中国的钢材价格，业务和高后钢材市场的稳定。

4。预测粗钢和钢材未来的消费

据在三至中国钢铁工业协会冶金工业规划研究院，经济发展研究中心，冶金工业，冶金工业信息标准研究院和其他研究机构的最新行情预测到2010年，粗钢消费量将达到51000.0万-5.5万吨，扣除重复的4.800亿-5.2亿吨，钢材消费量的预测材料。估计总额在2012年钢铁产品的实际需求，到2015年将突破六万点〇 〇万吨可能达到约500万吨60000.00万。

5。综合钢铁企业必须

改革开放，由于计划经济体制的实施，使中国的钢铁产业布局是非常分散，与西藏，全国各省，自治区，直辖市例外直辖市的钢铁企业。经过改革开放，由市场对钢铁，钢铁工业需求的中国从北方发展的重点逐渐转移到南的变化的影响，东北中国的钢铁在钢铁生产的比例也相应下降，生产帐户中国华北，华东中国钢铁在钢铁生产，比例显着增加产量占其中东部沿海地区集中在钢铁生产增长，以及长江领域，钢厂的分布越来越贴近市场。

与世界钢铁工业，中国钢铁行业的产业集中程度较低。按照“贝恩分类的规定，”中国的，远远不能达到较为理想的“寡头”市场结构钢铁工业。对于钢铁，汽车，造船等产业的规模经济，在明显的“寡头垄断条件”的市场结构具有更高的效率。从国际上钢铁业市场结构的演变趋势看，受技术进步因素和市场竞争限制减弱的影响，市场集中度的提高是其基本方向。2004年，世界主要国家，CR4的钢铁行业集中度为：巴西99.0％，韩国88.3％，日本73.2％，印度67.7％ ，美国61.1％，俄罗斯69.2％，国际钢铁市场几乎都是寡头垄断市场，有的甚至达到极高的寡头垄断。中国钢铁行业的集中程度较低，不仅限制了该行业的效率，而且削弱了钢铁行业作为买方在购买国际钢铁行业所需的原材料，能源及其他资源的议价能力（中国链铁矿石和其它原材料，买方），加剧了原材料价格的情况，从而增加了钢铁产品的价格波动不利于钢铁产业的健康发展，产业重组和整合是一个必要的后续这条道路。

能力相结合，下游产业，以及提高专业化，钢铁工业在今后几年的水平的需要，将加强横向联合和重组，同时联同下游产业的合作更加密切;今后一个时期将是中国钢铁工业在未来10年，发展的最好时期。近年来，国家工业控制，钢铁工业，在集中，兼并和收购，程度逐渐加强战略合作频繁，但主要的大型综合性钢铁企业将获得更多的产妇外延的发展机遇。钢铁2008年钢铁企业应该合并，但估计将有重大产业并购整合事件发生在2010年数字，中国钢铁行业将进一步向世界展示了钢铁巨头几分钟抢占情况理由是永远光年森林发展的重要举措。目前，宝钢通过湛江的项目整合韶钢和广钢的沿海基地，并与马鞍山钢铁通过，包头钢铁公司建立了“战略联盟”，揭示了扩大的意图;武汉钢铁基地也可通过防城港刘噶嗯收购项目，鞍山钢铁不落后，近期西南地区最大的企业参与攀钢突然整体市场和日益强大的山东钢铁集团和民营钢铁企沙强度钢铁不可忽视。

的中国钢铁行业整合的未来必将是一种趋势，自己的状态，在未来几年里，大量的世界级钢铁集团。唯一的大型钢铁在国际市场上钢铁集团，以便有更多的发展空间和更大的定价权和发言权。

4，产品分析：增强的优势，扩大多元化

2007年，济南钢铁中板，钢板产量占总产量的75.06％，因此公司面临着产品结构风险和相对集中。在济南钢铁集团收购后，目标资产完成后，公司主导产品品种中板，中厚板和小型材扩大到：盘，碟，小文件，热轧薄板，冷轧薄板，避免了产品结构的风险相对集中。大幅增加钢铁生产能力，产品结构和更丰富的，有规模，进一步发挥，核心竞争力大大提高。

1，中板，板-一个主要的利润增长点

的板，板：主要用于建筑，机械制造，航运，电力容器等行业，除了特殊的用途基本上是板同样板可用于焊接到管道，或各种金属结构，钣金，主要用于汽车，家电，罐头。

济南钢铁集团是最大的板材生产商，市场占有率和产品规模和相关技术，同时在行业的前列，该公司的产品和品种比比同行业的前列高级军衔。船舶，集装箱板，锅炉板具有较高的市场占有率：

造船板：造船板的市场份额增长了6.58％，2005年至2007年的13.06％。造船板市场的份额不断上升，也表明该公司的技术和产品层次的竞争优势。此外，该公司的高强度造船分类由9个国家认证的社会钢板。由于全球需求持续上升，船舶，特别是在散货船的需求大幅增加，从而使造船企业的订单都非常充分，订单和生产任务，产品在2009年和2010年路由，因此没有在减少需求对钢质船舶。造船行业钢材600万吨，2005年，2006年达到637.0万吨增加到2007年的大幅为9.1万吨。

造船工业由于成本上升和造船周期，但长期风险有关的造船业目前的市场预期带来不高，低估价，但并不意味着钢铁船舶工业需求下降。在2008年预计为1200万二○○九吨为16万吨，仍然是钢铁的巨大需求。济南钢铁公司和高船位于行业第一，公司业绩增长的有力支持，市场份额。

容器板：该公司的集装箱板的市场份额从2005年到12.30％，并逐步提高到2007年，百分之21.04，居全国第一。 2006年9月集装箱公司董事会授予“中国名牌”产品称号。

锅炉容器钢板：公司锅炉容器用钢板的产量居全国之首，连续三年。

近年来，下游行业的快速增长，导致对公司产品的强劲需求。 2007年，受钢材市场需求旺盛的影响，公司董事会更大幅度价格上涨，导致2007年板材的收入有较大幅度增长，毛利率显着提高。 2007年高达20.7％，增加了22％的增长板块边缘。 2008年，由于钢材市场持续繁荣，其下游产业：船舶，建材，机械行业，在市场上升，如生长板价格上涨，板材产品，该公司的需求将带来的收入大幅增加，将带着他们的高利润增长。

公司的板材产能在2008年将保持稳定，因为该公司投资18.00亿，2008年完成增加一个新的板材生产线，今后将提高公司的整体实力钢板产品。有望在2009年将于2010年投产容量达到饱和，这将进一步提高公司的板材生产能力。 2008年，因为这个项目刚刚开始还没有投入生产，而作为公司的主要业务和利润表，主要来源之一，该公司将主要受益于产品价格大幅上升。

板显示库存的同时全面增长，新的生产线，使产量的增长，以及在出口方面，由于国际价格和出口税的额外的资源量增长缓慢，显示增长。无论是两个价格的影响因素。但市场价格的变动将取决于需求的进一步变化，如果因为价格过高上涨的需求已被抑制，那么市场风险将大大增加。然而，根据目前的情况，市场需求依然强劲。

2，冷热轧薄板-提升公司的产品多样化的水平

冷轧薄板主要用于汽车，电气设备，汽车，农用机械，集装箱，钢家具。收购目标资产，将有冷热轧薄板生产能力。该公司的产品品种扩大，提高公司董事会的竞争力。

冷轧和热轧生产线投产后，2007年，2008年将完全融入的能力和效率的提升阶段，产品结构和规格结构将高于2007年相比更实质的变化，在增加高附加值的比例附加值产品，冷轧退火更高价格的形成，增加销售量和价格较高的薄规格热的比例在2007年推出的产品将有大约20％的产品设计，以提高超过60％的轮廓。

热轧板-热轧板厂：热连轧厂拥有1700热连轧的一套生产线，是中国第一个自行设计开发，制造，拥有独立的连轧生产线的知识产权，利用鞍钢1700（ASP）的生产线，技术特点和优化，改善和提高，工艺技术和装备已达到国际先进水平，国内一流水平。 250万吨/年热轧钢卷，设计投入运营2006年1月，厚度1.5（1.2）的主要品种〜12.7毫米，宽度900〜碳结构钢一五五零毫米，优质碳素结构钢，低合金结构钢，耐候钢，管线钢。线圈内径Φ762mm，外径为Φ1000〜2000毫米，为27.8吨，最大单重18kg/mm量最大的重量。在2007年都在满负荷生产。在2008年预计将维持在250万吨的能力。

冷轧板-冷轧板厂：冷轧生产线主要由9个单位组成：连续酸洗线，双机架轧机单位，罩式退火炉单位，单位的单位，再滚子数量的机型，包装机，滚子，酸再生单位，废水处理装置。大会的主要单位使用外国技术，关键设备，引进非关键设备，国内配套的模式，装备水平已达到世界先进水平90年。

主要产品有1.2〜五点零毫米厚，宽900〜一六五零毫米热轧酸洗卷，0.3〜2.5毫米厚，宽900〜一六五零毫米冷轧产品的数量，也有碳钢结构钢，种优质碳素苏结构钢，低合金高强度钢的产品主要用于建材行业的，考虑到轻工等行业。

冷轧钢板厂主要生产工艺是先进技术，亚洲最大的生产线轧制速度：1350米/分，2005念12乐投产，德国短信制造。双机架可逆冷轧机冷轧单位，以满足20世纪90年代中期的生产能力冷轧生产研究和开发新的冷战，连轧机组，设计年生产量106.00万吨货物。

2006冷轧钢板厂的二六七○○○吨输出，冷的冷轧板卷的所有品种; 2007五十四点三四万吨的年产冷轧钢板品种不仅包括10400吨SPCD外，其他全部对冷轧。

2007年54年产100万吨，按公司目前的产能增长和需求驱动的，在2008年，冷轧产能也将大大增加至80万吨的水平。

预计将在2008年冷战70亿美元的营业收入人民币薄板股份公司，成为该公司的主要业务之一。 2008年以后，有能力不断实现和产品价格高，在冷轧薄板产品，公司将大大受益。

未来，冷该公司的收入空间薄板非常大，以不断的技术改进和提高能力，冷轧将提高公司的整体盈利水平。而且抵御市场风险，公司将有更多的模式选择，以保护公司的产品收入。

3，型材，钢坯-重组，公司的产品的边缘

文件的分节的大，中，小规模的配置文件的大小。公司简介占主导地位的小部分。主要用途：制造，材料，建材工业。

型材由于较低的利润率在2007年只有2.2％，型材毛利率。近年来，公司已开始调整产品结构，使配置文件不大幅度增加生产和销售，型材的总营业收入的比重逐年下降。 2007年，为良好的效果相同的钢铁市场，型材价格上升，导致更大的收入增长的概况。 2008年，该公司的固定屁股…08.10.23

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