Nanjing Iron & Steel (600282) investor relations material

Executive summary

• 9M 2026 revenue rose 10.61% YoY to RMB47.88bn, while attributable net income fell 17.35% to RMB1.80bn; higher coal and coke costs pressured Q3 earnings.

• Steel output and sales grew YoY, and overseas coke operations returned to profitability; iron concentrate production remained steady at Anhui Jin’an Mining.

Financial highlights

• Q3 revenue was RMB16.75bn, up 16.79% YoY; total profit was RMB624.4m, attributable net income RMB476.6m, down 33.18%, and adjusted net income RMB386.8m, down 41.92%.

• 9M revenue was RMB47.88bn, up 10.61%; total profit was RMB2.20bn, down 14.22%; attributable net income was RMB1.80bn, down 17.35%, and adjusted net income RMB1.51bn, down 16.62%.

• 9M net profit was RMB1.83bn versus RMB2.09bn a year earlier; attributable basic and diluted EPS were both RMB0.2918 versus RMB0.3530.

Segment performance

• 9M steel output reached 7.22m tonnes, up 3.93% YoY; sales were 7.17m tonnes, up 4.56%, while average selling price was RMB3,958.86/tonne, down 0.39%.

• Indonesia Jinrui produced 1.57m tonnes of coke, up 19%, and sold 1.58m tonnes, up 30%; Indonesia Jinxiang produced 2.19m tonnes, up 29%, and sold 2.18m tonnes, up 36%.

• Overseas coke operations turned profitable; Anhui Jin’an Mining produced 914,000 tonnes of iron concentrate and sold 914,300 tonnes, with the Fanqiao iron mine moving from exploration to mining rights registration.