Maanshan Iron & Steel Company Limited (the 「Group」) reported revenue of RMB19.50 billion in the third quarter of 2025, representing a 5.35% increase year-on-year. Net profit attributable to equity holders reached RMB158 million for the quarter, marking a turnaround from the same period last year. From January to September, total revenue amounted to RMB57.57 billion, and net profit attributable to shareholders stood at RMB84 million, achieving a profit after a loss in the same period of the previous year.

During the first three quarters, the Group produced approximately 14.12 million tons of pig iron, 15.26 million tons of crude steel, and 14.47 million tons of steel. Management attributed the improved performance primarily to measures addressing production stability, cost containment, product upgrades, and improved procurement strategies. Meanwhile, the Group’s net cash flow from operating activities rose by 69.60% year-on-year to RMB4.32 billion, mainly benefiting from reduced expenditures on raw fuel purchases.

The announcement highlighted ongoing efforts to develop new products and increase research and development effectiveness. From January to September, new product sales reached approximately 1.32 million tons, contributing to higher margins. Looking ahead, the Group notes that steel market conditions remain challenging, with continued efforts focused on operational coordination, marketing optimization, and ongoing cost-reduction initiatives to enhance performance in the fourth quarter.