Angang Steel Company Limited (Angang Steel) recorded a net loss attributable to shareholders of RMB 2.05 billion for the six months ended 30 June 2026, widening from a RMB 1.12 billion loss a year earlier as subdued domestic steel demand and elevated raw-material costs compressed margins. Basic earnings per share fell to ‑RMB 0.218, while return on equity slumped to ‑4.69%.

\n\nRevenue slipped 5.58 % year on year to RMB 45.91 billion, reflecting weaker steel prices and a 4.68 % decline in product sales volumes to 11.46 million tonnes. Operating profit remained negative at ‑RMB 1.91 billion, versus ‑RMB 1.04 billion in the prior-year period, despite a 3.14 % reduction in operating costs to RMB 46.73 billion.

\n\nCash flow from operating activities strengthened to RMB 1.67 billion from RMB 0.39 billion, supported by tighter working-capital management and expanded forfaiting of letters of credit. Total assets stood at RMB 97.37 billion, with shareholders’ equity at RMB 41.64 billion, down 6.77 % from end-2025. The company’s gearing ratio rose to 55.83 % from 52.65 %.

\n\nProduction output contracted as the group balanced supply with muted market conditions. Pig iron, crude steel and finished steel volumes declined by 7.33 %, 5.11 % and 4.20 % respectively, reflecting what Angang Steel described as a “strong supply, weak demand” environment in China’s steel sector.

\n\nCost-saving measures partially offset headwinds. The company reported logistics expenses at its key bases falling between 3.9 % and 11.3 %, a 29 % drop in purchased energy cost per tonne of steel, and a 10 kg reduction in comprehensive energy consumption per tonne. High-end product sales mix improved by 9.3 percentage points, though price competition capped earnings.

\n\nDuring the period Angang Steel acquired 80 % of Yingkou Port from its parent Angang Holding, bringing the port under consolidated reporting. The transaction added RMB 1.01 billion of net assets and was accounted for as a business combination under common control, resulting in retrospective restatement of prior-period figures.

\n\nThe board proposed no interim dividend. Looking ahead, management highlighted six priorities for the second half, led by “ultimate cost control”, lean operations and intensified risk management to navigate ongoing challenges from global trade frictions, high input costs and domestic oversupply.

\n\nThe company reiterated its AAA domestic credit rating, with RMB 13.71 billion of borrowings outstanding at an average 2.19 % interest rate. As at period-end, Angang Steel had issued RMB 2.20 billion of short-term and super short-term commercial paper, all maturing within one year.