Angang Steel Company Limited (00347.HK) saw its stock price plummet by 5.38% in Friday's trading session, following the release of its third-quarter 2025 financial results. The steelmaker's performance, while showing some improvements, still reflected ongoing challenges in the industry.

According to the company's report, Angang Steel posted a net loss of RMB 896 million for the third quarter, despite narrowing losses by 62.59% year-on-year. For the first nine months of 2025, the cumulative net loss stood at RMB 2,040 million, representing a 59.87% improvement compared to the same period last year. However, operating income for the January-September period decreased by 7.78% year-on-year to RMB 73,092 million, indicating persistent market pressures.

While Angang Steel highlighted its efforts in market expansion and cost reduction initiatives, including a per-tonne steel cost saving of RMB 90 compared to the previous year, investors seemed to focus on the continued losses. The company's struggles, despite its strategic moves in premium products and research breakthroughs, appear to have prompted a selloff. As the steel industry continues to face headwinds, Angang Steel's ability to return to profitability remains a key concern for investors, leading to the sharp decline in its stock price.