CHONGQING IRON (01053) announced that, based on preliminary calculations by its finance department, it expects to report a net loss attributable to shareholders of approximately RMB 2.5 billion to RMB 2.8 billion for the 2025 financial year. Compared with the previous year, this represents a projected reduction in losses of between RMB 396 million and RMB 696 million. The net loss attributable to shareholders after deducting non-recurring gains and losses is anticipated to be in the range of RMB 2.53 billion to RMB 2.83 billion, indicating a narrowed loss of RMB 377 million to RMB 677 million year-on-year. The announcement stated that the domestic steel market in 2025 experienced a volatile phase characterized by deep-seated adjustments in supply and demand dynamics, with the construction materials segment performing particularly weakly. The company identified indications of impairment in certain assets and, in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 8 - Asset Impairment," plans to conduct impairment tests and make provisions for asset impairment. To improve operational performance and proactively address the long-term downturn risks in the industry, the company is focusing on achieving extreme energy efficiency and implementing comprehensive, refined process control. Measures include optimizing the raw material mix for furnace charges, enhancing smelting efficiency, concentrating on product variety breakthroughs and efficiency gains, and developing high value-added products to systematically advance cost reduction and efficiency improvement. Efforts are being synergized across both procurement and sales to solidify the foundation for value creation. Centered on the core objectives of "ensuring supply, improving quality, and reducing costs," the company is broadening its supply channels, strengthening quality control, and implementing localized procurement to secure stable supply while simultaneously reducing inventory and purchasing expenses. By optimizing its customer and product portfolios, increasing the proportion of direct end-user sales and fixed-price contracts to hedge against market risks, and by upgrading service quality, maintaining regional price differentials, and developing new customers, the company aims to enhance its market competitiveness and customer loyalty, providing crucial support for the improvement of its operational performance.