Angang Steel Company (347) H1 2026 earnings summary

Executive summary

• Operating income for H1 2026 was RMB45,907 million, down 5.58% year-over-year, with a net loss attributable to shareholders of RMB2,047 million, an 83.59% decline from the prior year.

• Basic earnings per share was RMB-0.218, compared to RMB-0.119 in H1 2025 (adjusted).

• Production and sales volumes of iron, steel, and steel products all declined year-over-year, reflecting challenging market conditions.

• The company focused on cost reduction, product mix optimization, and risk management, achieving notable logistics and procurement savings.

• Recognized as a leading standard-compliant enterprise in the national steel industry.

Financial highlights

• Operating income: RMB45,907 million, down 5.58% year-over-year.

• Net profit attributable to shareholders: RMB-2,047 million, down 83.59% year-over-year.

• Net cash flow from operating activities: RMB1,672 million, up 333.16% year-over-year.

• Total assets: RMB97,367 million; owner's equity: RMB41,636 million.

• Gross profit margin for steel pressing and processing: -1.83%.

Outlook and guidance

• The company will focus on cost control, lean management, value creation, reform and innovation, risk prevention, and strict discipline in H2 2026.

• Strategic resolve and operational improvements are prioritized to achieve full-year targets.