Graphite electrodes are the "lifeline" of EAF steelmaking! As the core material for arc conduction and heating, they feature high conductivity and heat resistance, directly affecting molten steel quality and output. Mastering graphite electrodes means mastering the initiative in EAF steelmaking!

【Graphite Electrode】Trillion-Yuan Sanctions Strike! Orders of These Three Industry Leaders Surge by 2,860%, the Last One Is Crowned the "King of Nuclear-Grade Graphite"!

Urgent notice to stockholders! On the night of August 28, 2025, the EU announced a 45% tariff on Chinese graphite electrodes, triggering a full acceleration of domestic substitution! These three companies have already been locked in by state-backed funds worth tens of billions, and for the first time, the main force's buying list is revealed!

On August 29, 2025, breaking news! The Ministry of Industry and Information Technology has mandated that the domestic substitution rate of nuclear and military graphite must exceed 90% by 2025. Meanwhile, the global surge in electric furnace steel capacity has created a 500,000-ton shortage of electrodes! Fangda Carbon hit the daily limit today, with net inflows from major investors exceeding 1.2 billion RMB! Policy targets aim for the market size to surpass USD 9.26 billion by 2028, with the localization rate sprinting toward 80%. The MACD golden cross above the waterline has been confirmed, igniting the main upward wave!

This issue, through a comprehensive review of policy alignment, technological barriers, and performance elasticity, screens out three companies that combine policy dividends with explosive potential, for your research and reference.
Note: The following content does not constitute any investment advice, guidance, or commitment, and is only for academic discussion.

First: Fangda Carbon (600516) — The Absolute Global Leader in Electrodes
Its capacity accounts for 25% of the global total, crushing Europe and the U.S.! It monopolizes UHP electrode technology!
In Q1 2025, net profit surged 68% (No.1 in the industry), securing exclusive mega-orders from Baowu Steel and India's Tata Steel! Even more striking: nuclear-grade graphite yield reaches 99.9%, tied to China's fourth-generation nuclear reactor projects, with military orders accounting for 35%! On the technical side, volume has broken through historical highs, and OBV energy flow has set new records!

Second: Yicheng New Energy (300080) — The King of Special Graphite Technology
China's only mass-production enterprise for isostatic graphite! Semiconductor-grade purity at 99.999%!
In 2024, revenue skyrocketed by 243% year-on-year, exclusively supplying crucibles for SMIC's 28nm chips, with unit price premiums of 300%! Nuclear-level catalyst: secured a 5-year long-term order for EU photovoltaic thermal field materials, while SiC-coated graphite lifespan improved threefold! Social Security Fund holds 5 million shares heavily, with northbound funds sweeping up 530 million RMB in a single day; weekly K-line shows three consecutive gains, with the main upward wave initiated!

Third: Baosteel (600019)
The ultimate form of vertical integration! Needle coke self-sufficiency rate at 80%, crushing global competitors!
Backed by Baowu Steel's 100 million-ton steel capacity, electrode costs are 30% lower than peers! Overseas orders in 2025 surged 280%, with an exclusive breakthrough in fuel cell bipolar plate technology, achieving lifespans over 20,000 hours!

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