Angang Steel Company (347) investor relations material

Executive summary

• 9M 2026 operating revenue was RMB69,866 million, down 4.46% YoY; net loss attributable to owners was RMB4,034 million versus RMB1,991 million in the adjusted prior-year period.

• Q3 revenue was RMB23,959 million, down 2.23% YoY; net loss attributable to owners was RMB1,987 million versus RMB876 million in the adjusted prior-year quarter.

• Weak steel demand and depressed selling prices, alongside rising raw-material and fuel costs, narrowed procurement-to-sales spreads and drove lower operating and net profit.

Financial highlights

• 9M operating profit was a loss of RMB3,861 million versus a loss of RMB1,852 million; net profit was a loss of RMB3,945 million versus a loss of RMB1,924 million.

• Excluding non-recurring items, 9M net loss attributable to owners was RMB4,164 million versus RMB2,169 million; Q3 adjusted net loss was RMB1,998 million versus RMB938 million.

• 9M operating cash flow increased to RMB2,458 million from RMB2,053 million; investing cash outflow widened to RMB3,390 million from RMB2,211 million.

• Total assets were RMB96,050 million at 30 September 2026; equity attributable to owners was RMB39,967 million, down 10.51% from the adjusted prior-year-end amount.

Key financial ratios and metrics

• Basic and diluted EPS were both negative RMB0.431 for 9M, versus negative RMB0.213 in the adjusted prior-year period.

• Weighted average return on net assets was -9.53% for 9M, down 5.34 percentage points YoY; Q3 was -4.87%, down 2.94 percentage points.

• 9M total comprehensive loss was RMB3,943 million versus RMB1,918 million; comprehensive loss attributable to owners was RMB4,032 million versus RMB1,985 million.