According to Zhitong Finance App News, Angang Steel Co., Ltd. (00347) announced that the group expects to achieve a net loss attributable to the company's shareholders of about 2,047 billion yuan in the first half of 2026, an increase of about 83.59% over the previous year; it is expected to deduct non-net losses of about 2.09 billion yuan, an increase of about 71.32% year on year.

In the first half of 2026, the oversupply situation in the steel industry remained unchanged, showing a weak cycle and low boom. Steel prices continue to be sluggish. Coupled with the high prices of raw fuels such as iron ore and coking coal, the scissor gap between buying and selling continues to narrow, and profit margins are further compressed. Faced with the complex and severe market situation, the company anchored the direction of high-end, intelligent and greening, deepened the construction of “type 5” enterprises, continued to “focus on value creation and comprehensive accounting management”, insisted on stable production and excellent production, and strengthened internal control. The production and operation situation improved month-on-month in the second quarter, but due to the continuous narrowing of both sides of the market, the company's production and operation were still in a loss situation.

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