Chongqing Iron & Steel Company (1053) Q1 2026 earnings summary

Executive summary

• Revenue from operations for Q1 2026 was RMB 4.89 billion, down 26.07% year-over-year from RMB 6.61 billion.

• Net loss attributable to shareholders widened to RMB -199.15 million from RMB -117.42 million year-over-year.

• The increased loss was mainly due to a significant year-over-year decrease in the sales price of commodity billet.

Financial highlights

• Total assets at March 31, 2026 were RMB 32.07 billion, nearly flat from year-end 2025.

• Owners' equity attributable to shareholders was RMB 13.72 billion, down 1.36% from year-end 2025.

• Net cash flow from operating activities was negative RMB 877.58 million, compared to positive RMB 408.72 million in Q1 2025.

• Basic and diluted EPS were both -0.02 RMB, compared to -0.01 RMB in Q1 2025.

• Weighted average return on net assets was -1.44%, down from -0.71% year-over-year.

Outlook and guidance

• Management attributes the increased loss to lower sales prices and higher capital occupation for raw material stocking, indicating ongoing margin pressure.