Angang Steel Company (347) Q1 2025 earnings summary

Executive summary

• Achieved significant year-on-year reduction in losses, with net profit attributable to shareholders improving by RMB1.102 billion compared to Q1 2024, despite ongoing weakness in the steel market.

• Enhanced product structure, production efficiency, and cost controls, with notable progress in digital-intelligent transformation and AI integration.

• Market expansion led to record cold-rolled output and successful entry into new product segments, including battery shell steel.

Financial highlights

• Operating income for Q1 2025 was RMB25,079 million, down 9.89% year-over-year.

• Net loss attributable to shareholders was RMB554 million, a 66.55% improvement from a loss of RMB1,656 million in Q1 2024.

• Basic and diluted EPS were both -0.059, compared to -0.176 in Q1 2024.

• Net cash flow from operating activities was RMB381 million, down 45.8% year-over-year.

• Weighted average return on net assets improved to -1.17% from -3.07% in Q1 2024.

Outlook and guidance

• Continued focus on high-end, intelligent, and green development, with ongoing cost reduction and product mix optimization.

• Emphasis on digital transformation and AI-driven operational improvements.