Angang Steel (347) investor relations material

Executive summary

• Operating income for H1 2025 was RMB48,599 million, down 12.35% year-over-year, with net loss attributable to shareholders at RMB-1,144 million, a 57.46% reduction in loss from the prior year.

• Steel production and sales volumes remained stable, with rolled steel sales at 12,021,100 tonnes, up 0.08% year-over-year, and a sales-output ratio of 99.88%.

• The company advanced reforms, innovation, and cost optimization, achieving significant reductions in per-tonne costs, including a 15.2% decrease in purchased energy cost per tonne and an 8.8% reduction in logistics costs at headquarters.

Financial highlights

• Operating income: RMB48,599 million, down 12.35% year-over-year.

• Net loss attributable to shareholders: RMB-1,144 million, improved by 57.46% year-over-year.

• Basic and diluted EPS: RMB-0.122, up 57.49% year-over-year.

• Net cash flow from operating activities: RMB405 million, down 29.20% year-over-year.

• Total assets: RMB98,421 million; owner's equity: RMB46,610 million, both slightly down from year-end 2024.

Outlook and guidance

• The company will focus on high-end, intelligent, and green transformation, deepen reforms, and pursue quality and efficiency improvements to achieve annual operational targets.

• Domestic steel demand is expected to decline further in H2 2025, with continued oversupply and weak raw material prices.

• The company will enhance risk management, cost control, and innovation to address market and macroeconomic uncertainties.