HK Stock Market Move | CHONGQING IRON (01053) fell more than 4%, expecting a net loss of 2.5 billion to 2.8 billion yuan in 2025.

CHONGQING IRON (01053) fell more than 4%, as of the time of writing, it fell 4.13% to HK$1.16, with a turnover of HK$6.4945 million. On the news front, on the evening of January 15, CHONGQING IRON announced that, according to preliminary calculations by the finance department, it is expected to achieve a net loss attributable to the shareholders of the listed company of RMB 2.5 billion to RMB 2.8 billion in the year 2025, a decrease of RMB 396 million to RMB 696 million compared to the same period last year; the net loss attributable to the shareholders of the listed company after deducting non-recurring gains and losses is expected to be RMB 2.53 billion to RMB 2.83 billion, a decrease of RMB 377 million to RMB 677 million compared to the same period last year. The announcement stated that in 2025, the domestic steel market is experiencing a deep adjustment in supply and demand structure, with the construction materials market showing particular weakness. Some of the company's assets show signs of impairment, and in accordance with the relevant regulations of "Enterprise Accounting Standard No. 8-Asset Impairment," it plans to conduct impairment tests on the relevant assets and make provisions for asset impairment.