Angang Steel Company (347) Q1 2026 earnings summary

Executive summary

• Report covers unaudited results for the three months ended 31 March 2026, prepared under PRC accounting standards.

• Board and management confirm the truthfulness, accuracy, and completeness of the report.

Financial highlights

• Operating income was RMB 22,021 million, down 12.19% year-over-year.

• Net profit attributable to shareholders was a loss of RMB 1,457 million, compared to a loss of RMB 554 million in Q1 2025.

• Basic and diluted EPS were both -0.156 RMB, down from -0.059 RMB year-over-year.

• Net cash flows from operating activities increased 22.57% year-over-year to RMB 467 million.

• Total assets at period end were RMB 94,534 million, down 1.58% from year-end 2025.

• Owners' equity attributable to shareholders decreased 3.26% to RMB 42,448 million.

Outlook and guidance

• Profitability impacted by steel industry downturn, with steel selling prices declining more than raw material costs, narrowing margins.

• Output and sales volume of steel decreased due to maintenance of certain production lines.