Hesteel Group: Revenue in 2025 was 118.137 billion yuan, a year-on-year increase of 32.95% in net profit.

Hegang Group announced that in 2025, its operating income reached 118.137 billion yuan, a decrease of 2.86% year-on-year; operating profit was 1.024 billion yuan, an increase of 108.13% year-on-year; net profit was 1.065 billion yuan, an increase of 32.95% year-on-year. During the reporting period, the company's net cash flow from operating activities was 9.901 billion yuan, an increase of 2.31% year-on-year. As of the end of the reporting period, the funds raised by "24 Hegang Y3" and "24 Hegang Y4" have been fully utilized, and the special accounts for the raised funds are operating normally. The company's operating stability, debt repayment willingness and ability have not undergone significant adverse changes, and all bond principal and interest payments were made in full and on time during the reporting period.