Lingyuan Iron & Steel (600231.SH) issued a pre-loss forecast, estimating a net loss of approximately 1.678 billion yuan in 2024.

Lingyuan Iron & Steel (600231.SH) announced that, according to preliminary calculations by the finance department, the company is expected to incur a loss in 2024, with a net profit attributable to the owners of the parent company of approximately -16.78 billion yuan. It is estimated that the net profit attributable to the owners of the parent company in 2024, after deducting non-recurring gains and losses, will be approximately -14.69 billion yuan. In 2024, the steel industry continued the trend of strong supply and weak demand from the previous year, with differentiated downstream demand, steel prices fluctuating downward, and raw material prices running relatively high. Faced with a complex situation, the company adheres to intensive production, improves quality and efficiency, fully expands procurement channels, adjusts product types, optimizes structure, reduces energy consumption, lowers costs, controls expenses, improves mechanisms, and strengthens collaboration. However, the company has still been unable to reverse the unfavorable operating situation and remains in a state of loss.