Maanshan Iron (00323) is expected to incur a net loss attributable to owners of the company of 190 to 250 million yuan for the year 2025.

Maanshan Iron (00323) announced that the company expects to achieve a net loss attributable to the shareholders of the listed company of RMB 2.50 billion to RMB 1.90 billion in 2025, a decrease of RMB 44.09 billion to RMB 44.69 billion compared to the same period last year; the net loss attributable to the shareholders of the listed company, excluding non-recurring gains and losses, is expected to be RMB 2.72 billion to RMB 2.12 billion, a decrease of RMB 40.26 billion to RMB 40.86 billion compared to the same period last year. In 2025, the domestic steel industry continued to develop in a reduction of capacity and structural adjustment trend. In the environment of continued market supply-demand contradictions, steel price pressure, and fluctuating raw material costs, the operating situation of steel enterprises was severe. During this period, the company adhered to the principle of "four have" in its operations, actively promoted organizational reform and synergy for efficiency, deepened multidimensional management and benchmarking, continuously optimized product structure, increased the proportion of high-end products, and strived to improve product management capabilities and production line efficiency. Maanshan Iron and Steel Co., Ltd., supported by Baoshan Iron and Steel Co., Ltd., achieved stable improvement in the ironmaking system, quality enhancement in the steel rolling system, and coordinated development of the operating system; Anhui Changjiang Iron and Steel Co., Ltd. adopted a business philosophy of "low cost, differentiation, high efficiency, and fast pace", implemented differentiated control, promoted grassroots organizational changes, and significantly improved cost competitiveness. The company took multiple measures, and the annual operational performance improved significantly compared to the previous year, with a year-on-year reduction in net profit attributable to the shareholders of the listed company of approximately RMB 44.09 billion to RMB 44.69 billion. However, affected by market fluctuations in the fourth quarter, and as the company is in a stage of transformation and development, and some of its invested companies experienced a decline in operating performance, the company still did not achieve a turnaround for the full year.