Mar. 9, 2026 - Against the backdrop of contraction and adjustment in the steel industry, coupled with declining volumes and prices in the refractory market, 2026, as the inaugural year of the "15th Five-Year Plan," has become a critical window for refractory enterprises to transform and break through. Companies such as Beijing Lier, Sinosteel Luonai, Ruitai Technology, Shandong Refractories, Jiangsu Baoyirui, and Jinyu Tongda held intensive annual work meetings in early 2026. Their deployments not only reveal the common logic of industry development but also highlight their specific current situations and unique characteristics, reflecting the collective consciousness of China's refractory industry as it strides towards high-quality development.

Industry Consensus on Upgrading Development

Multiple refractory enterprises have positioned 2026 as a year of strategic critical breakthrough. Although their target expressions differ, each has its own distinct features. Beijing Lier closely adheres to its "Three 100s" strategic goal, consolidating its industry leadership position. Sinosteel Luonai directly confronts the challenge of a turnaround battle, accelerating its transformation towards "specialization and innovation." Shandong Refractories proposes the vision of "Creating a New Shandong Refractories," implementing the "12344 Foundation Enhancement Project." Ruitai Technology focuses on cultivating a "second curve" of growth. Jinyu Tongda emphasizes seeking quality from operations, management, and comprehensive and strict Party governance. Jiangsu Baoyirui stresses the need to stand firm and stabilize its foundational business. All six companies deeply integrate their 2026 annual targets with their "15th Five-Year Plan" strategic planning, emphasizing the urgency that the start determines future development, reflecting the industry's shift from passive response to proactive planning.

Equal Emphasis on Cash Flow and Market Structure

Facing significant payment collection pressure in the refractory industry, all six companies unanimously prioritize the reduction of accounts receivable and inventory ("two types of funds"), and cash flow security at the core of their operations. Sinosteel Luonai lists reducing these "two types of funds" as a top priority. Beijing Lier strictly controls collection quality and implements accountability systems. Jinyu Tongda initiates a "defensive battle" for asset quality related to these funds. In terms of market strategy, the companies show differentiated approaches: Beijing Lier and Ruitai Technology strengthen their foreign trade layout and international expansion; Shandong Refractories and Jinyu Tongda focus on deep engagement with high-value-added projects and strategic customers; Jiangsu Baoyirui plans to flexibly adjust its market structure and increase efforts in export promotion. Notably, Ruitai Technology proposes a three-pronged approach: preserving existing volume, capturing incremental volume, and shifting strategy. Sinosteel Luonai emphasizes eliminating adverse impacts and optimizing its customer structure. These highlight the industry's transition from scale expansion to quality and efficiency orientation.

Upgrading to Value Creation

The technological innovation deployments of various refractory enterprises reveal significant directional differences. Beijing Lier focuses on scenario-based breakthroughs in on-site construction automation for clients. Sinosteel Luonai relies on its national key laboratory to transform technological advantages into market success. Ruitai Technology strengthens its green and intelligent transformation and breakthroughs in key core technologies. Jinyu Tongda implements a strategy of "upgrading one generation, researching the next generation, and reserving the generation after next," promoting a shift in innovation from a technology-oriented to a value-oriented approach. Digitalization and intelligent construction have become standard configurations for these six companies: Beijing Lier deepens the application of ERP/MES systems; Sinosteel Luonai advances production line technical upgrades and informatization construction; Ruitai Technology embeds compliance management into all business processes. This signifies that refractory enterprises are moving from single product research and development towards a full-chain value creation system encompassing "technology + service + digitalization."

Driving Refined Management

The management upgrades in the refractory industry exhibit three major commonalities: First, lean management. Ruitai Technology practices "Three Essentials Management" focusing on price-benefit principles, while Jinyu Tongda advocates a cost-consciousness of "splitting a penny in two." Second, proactive risk control. All six companies systematize their risk prevention and control systems covering safety, environmental protection, compliance, and integrity. Third, organizational activation. Sinosteel Luonai promotes personnel structure optimization to enhance labor productivity. Shandong Refractories breaks through bottlenecks through institutional reform. Jinyu Tongda strengthens the construction of its subsidiaries as specialized profit centers. The "immersive working method" and the "Three Must-Sees, Five Must-Visits, Six Must-Tells" proposed by Jinyu Tongda extend management reach to the front line, reflecting a pragmatic orientation towards deriving quality from management.

Forging Sustainable Competitiveness

In 2026, the six enterprises have clearly outlined a new blueprint for the development of the refractory industry through their work deployments. High-quality development has been transformed from an ideological consensus into an action program. Cash flow security, scientific and technological innovation, and refined operation have become the bottom line for survival, while differentiated strategic positioning determines the new height of each enterprise’s development. Beijing Lier’s leading role, Sinosteel Luonai’s transformation breakthrough, Shandong Refractories’ ambition for leapfrog development, Ruitai Technology’s curve breakthrough, Jinyu Tongda’s systematic governance, and Baoyirui’s pragmatic progress together form a diversified map of the resilient development of China’s refractory industry. At the starting point of the new journey of the 15th Five-Year Plan, only by deeply integrating strategic resolve, innovative vitality, and execution perseverance can enterprises build a solid moat in the industry reshuffle and truly achieve the leap from manufacturing to creation.