Baoshan Iron & Steel (600019) Q1 2025 earnings summary

Executive summary

• Maintained leading domestic industry position despite weak demand and falling steel prices, achieving total profit of ¥3.29 billion in Q1 2025.

• Advanced digital transformation with 53 new smart applications and launched the Smarteel xMind platform.

• Achieved full certification of all four bases as “zero-waste factories” and made progress in green, low-carbon initiatives.

• Export orders reached 1.55 million tons, up 23,000 tons year-over-year, supporting full production and sales.

• Launched three globally first high-strength steel products and advanced 48 R&D projects.

Financial highlights

• Q1 2025 revenue was ¥72.88 billion, down 9.8% year-over-year; net profit attributable to shareholders was ¥2.43 billion, up 26.4%.

• Net profit excluding non-recurring items was ¥2.40 billion, up 52.3% year-over-year.

• Operating cash flow was ¥4.36 billion, a significant improvement from -¥3.01 billion in Q1 2024.

• Basic and diluted EPS were both ¥0.11, up 22.2% year-over-year.

• Total assets at quarter-end were ¥367.99 billion, up 0.9% from year-end 2024.

Outlook and guidance

• Steel market remains under pressure due to persistent supply-demand imbalance and weak demand, with limited profit margins for the industry.

• Company continues to focus on cost reduction, digital transformation, and international market expansion.