Angang Steel (00347) announced its interim results, reporting a net loss attributable to shareholders of approximately 2.047 billion yuan, an increase of 83.59% year-on-year.

Angang Steel (00347) announced its mid-year results for 2026, reporting an operating revenue of 45.907 billion yuan, a decrease of 5.58% year-on-year; the net loss attributable to shareholders of the listed company was 2.047 billion yuan, an increase of 83.59% year-on-year; basic loss per share was 0.218 yuan. During the period, the production of iron, steel, and materials reached 11.2722 million tons, 12.1372 million tons, and 11.5295 million tons, representing year-on-year declines of 7.33%, 5.11%, and 4.20%, respectively. Sales of steel amounted to 11.4591 million tons, down 4.68% year-on-year, achieving a steel production and sales rate of 99.39%. The announcement stated that the increase in losses was primarily due to oversupply in the steel industry in the first half of 2026, characterized by a weak cycle and low prosperity, leading to continued sluggish steel prices. Additionally, high prices of raw materials such as iron ore and coking coal, alongside a narrowing gap between purchase and sale prices, contributed to the losses.