Research on the Current Status of Data Asset Disclosure in the Steel Industry

With the market-oriented allocation of data elements becoming a national strategy, the recognition of data assets in financial statements has emerged as a critical issue in enterprise digital transformation. However, existing research has paid insufficient attention to the status of data asset disclosure in traditional manufacturing industries, particularly the steel sector. This study focuses on the steel industry, analyzing its potential for data asset capitalization by integrating industry digital transformation trends and core data application scenarios. Through case studies of three typical enterprises: Nanjing Iron and Steel Co., Ltd. (Nangang), Hesteel Company Limited (Hesteel), and Baosteel Co., Ltd. (Baosteel). This paper explores market reactions to sustained disclosing enterprises, potential risks of non-sustained disclosure, and response strategies of non-disclosing enterprises, ultimately summarizing the influencing factors in disclosure strategy decisions. The research finds that the disclosure rate of data assets in the steel industry is extremely low, with enterprises' disclosure decisions influenced by factors such as input-output ratio, industry disclosure atmosphere, and disclosure standards and difficulty. Specifically, Nangang's sustained disclosure generated short-term positive market reactions; Hesteel faced the risk of declining financing capacity due to suspended disclosure; Baosteel replaced data asset disclosure with ESG reports to maintain investor’s confidence.