Baoshan Iron & Steel (600019) Q1 2026 earnings summary

Executive summary

• Maintained leading domestic industry position in Q1, leveraging short-term profit recovery and structural reforms.

• Advanced technology and product innovation, including global launches and increased patent filings.

• Accelerated AI and digital transformation, with 122 AI scenarios launched and smart manufacturing breakthroughs.

• Strengthened green, low-carbon initiatives, with all bases recognized as national green factories and new zero-carbon production lines operational.

Financial highlights

• Q1 revenue reached RMB 77.06 billion, up 5.7% year-over-year.

• Net profit attributable to shareholders was RMB 2.23 billion, down 8.6% year-over-year.

• Operating cash flow was RMB 4.42 billion, up 1.4% year-over-year.

• Basic and diluted EPS were RMB 0.10, down 9.1% year-over-year.

• Gross margin decreased by 0.6 percentage points to 6.6%.

Outlook and guidance

• Industry faces ongoing supply-demand imbalance, with steel prices down 4.4% and raw material costs rising.

• Company continues to focus on integration, innovation, and digital transformation to enhance competitiveness.