Xinjiang Ba Yi Iron & Steel (600581.SH) announced a preliminary expected net loss of approximately 1.732 billion yuan in 2024.

Xinjiang Ba Yi Iron & Steel (600581.SH) announced that, according to preliminary calculations by the finance department, it is expected to achieve a net profit attributable to the owners of the parent company of approximately -1.732 billion yuan in 2024. It is also expected to achieve a net profit attributable to the owners of the parent company, after deducting non-recurring gains and losses, of approximately -1.784 billion yuan in 2024. Due to factors such as the poor downstream business environment in the steel industry, a significant decline in domestic steel market prices, and an expansion of losses in the industry, the company's operating performance has seen a significant decrease.