According to the Zhitong Finance App, Angang Steel Co., Ltd. (00347) announced its 2026 interim results, with operating income of 45.907 billion yuan, a year-on-year decrease of 5.58%; net loss attributable to shareholders of listed companies was 2,047 billion yuan, an increase of 83.59% over the previous year; and a basic loss of 0.218 yuan per share.

During the period, iron, steel and material production reached 11.2722 million tons, 12.3372 million tons, and 11.5295 million tons, respectively, down 7.33%, 5.11%, and 4.20% year-on-year respectively. Steel sales were 11.491 million tons, a year-on-year decrease of 4.68%, achieving a steel production and sales rate of 99.39%.

According to the announcement, the increase in losses was mainly due to oversupply in the steel industry in the first half of 2026, a weak cycle, low prosperity, and continued sluggish steel sales prices. Coupled with high prices of raw fuels such as iron ore and coking coal, the scissor gap between the two ends of buying and selling continued to narrow.

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