Liuzhou Iron & Steel Co (601003) investor relations material

Executive summary

• Q3 revenue rose 2.19% YoY, but the quarter recorded a net loss attributable to shareholders of ¥44.1m; 9M net income fell 95.14% YoY to ¥32.0m.

• Higher coal procurement costs and weaker steel demand limited the pass-through of cost increases to selling prices, weighing on profit and operating cash flow.

Financial highlights

• Q3 revenue was ¥16.48bn, up 2.19% YoY; 9M revenue was ¥49.43bn, down 2.69% YoY.

• Q3 total profit was a loss of ¥54.7m and attributable net income a loss of ¥44.1m; 9M total profit was ¥81.3m and attributable net income ¥32.0m.

• 9M adjusted for non-recurring items, attributable net income was ¥9.0m, down 98.57% YoY; reported attributable net income was down 95.14%.

• 9M operating cash flow was ¥1.61bn, down 55.68% YoY; Q3 operating cash flow was ¥132.6m, down 93.38% YoY.

• 9M basic and diluted EPS were ¥0.01, versus ¥0.26 a year earlier; Q3 basic and diluted EPS were -¥0.02.

Key financial ratios and metrics

• Weighted average ROE was -0.48% for Q3, down 3.76 percentage points YoY; 9M ROE was 0.35%, down 7.23 percentage points.

• Total assets at Sep. 30 were ¥62.56bn, up 1.93% from year-end 2025; equity attributable to shareholders was ¥9.14bn, up 1.10%.