Shandong Iron And Steel (600022.SH): Shanxin Software has established an AI research institute, focusing on AI research.

Gelonghui Finance · Dec 18, 2024 16:14

On December 18, Gelonghui reported that Shandong Iron And Steel (600022.SH) stated on an investor interaction platform that since the beginning of this year, the company has firmly grasped the significant opportunity of the dual participation in the strategic investment by China Baowu in Shandong Iron And Steel and Baoshan Iron & Steel's stake in Rizhao company. The company focuses on the management theme of 'seeking survival through transformation', adhering to a profit-centered approach, deeply implementing the principle of 'four centers', and accelerating the implementation of the '1+6+N' transformation plan. A series of measures, including extensively activating human resources, strengthening cost reduction across the entire system, and deepening collaborative support, have resulted in a quarterly increase in the Net income ranking within the industry, gradually showing positive effects, with business performance maintaining a sound operation in the face of challenges. Despite implementing a series of 'combined actions' this year, the company was still in a loss state in the first three quarters due to the severe situation in the industry and the extremely complex challenges. Following a policy boost, steel prices have recently rebounded, but domestic demand has yet to improve, and the overall supply-demand contradiction in the steel market remains prominent. For specific operational performance this year, please pay attention to subsequent company announcements. Regarding AI Business: The company has focused on cost reduction, efficiency improvement, safe operation, and efficient production in 10 areas including raw materials, iron making, and steel making, and has explored the application of 'AI + Steel' business, identifying over 60 application scenarios. The company’s holding subsidiary, Shanxin Software, is currently engaged in research and development work. Additionally, to better develop the AI business, Shanxin Software has established an AI research institute, concentrating efforts on AI research, with the goal of creating more than 3 AI brands within 2-3 years and achieving substantial breakthroughs in the application of AI in the steel industry. Currently, the company's Big Data support relies on data service platforms, and there are no plans to build its own computing power center.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

山东钢铁(600022.SH)：山信软件已成立人工智能研究院，集中精力研究AI

Shandong Iron And Steel (600022.SH): Shanxin Software has established an AI research institute, focusing on AI research.

Risk Disclaimer

Statement