Angang Steel (00347) issued a profit warning, expecting a net loss of 1.144 billion yuan in the first half of the year, a year-on-year decrease.

Angang Steel (00347) announced that it is expected to incur a net loss of 1.144 billion yuan attributable to shareholders of the company for the six months ending June 30, 2025, compared to the same period in 2024. In the first half of 2025, the steel industry showed some improvement compared to the same period last year. Steel prices on the sales side and raw material prices on the procurement side continued to decline overall, and the overall oversupply situation in the steel market has not fundamentally improved. The company will continue to focus on reducing costs and increasing efficiency, focus on "accounting management", and strive to build "five-type enterprises", increase market development and product adjustment efforts, improve operational efficiency, tap into energy potential, optimize procurement radius, and focus on systematic cost reduction to enhance the company's market competitiveness.