Beijing Shougang Co (000959) Q4 2025 earnings summary

Executive summary

• Achieved stable operations in 2025, focusing on green, intelligent, and high-end manufacturing, with significant progress in product mix, technological innovation, and ESG management.

• Main business includes steel products and soft magnetic metallic materials, serving automotive, power, energy, home appliances, and emerging industries.

• Subsidiaries Zhixin Co. and Jingtang Co. advanced in electrical steel and high-efficiency steel production, supporting new energy and infrastructure sectors.

Financial highlights

• Operating revenue was RMB 102.92 billion, down 5.11% year-over-year; net profit attributable to shareholders was RMB 996 million, up 107.68%.

• Basic and diluted EPS were RMB 0.1284, up 107.77% year-over-year.

• Net cash flows from operating activities reached RMB 8.14 billion, up 28.29% year-over-year.

• Gross margin for metallurgy segment improved by 1.09 percentage points to 5.04%.

• Total assets at year-end were RMB 124.93 billion; net assets attributable to shareholders were RMB 50.33 billion.

Outlook and guidance

• 2026 steel output planned at 23.28 million tons (+2.0% YoY); revenue target set at RMB 106.48 billion (+3.46% YoY).

• R&D expenditure to be no less than 4.4% of operating revenue.

• Focus on high-end, green, and intelligent manufacturing, with continued investment in digital transformation and low-carbon technologies.