Chongqing Iron and Steel (01053.HK): Expected Net Loss of RMB 179 Million for First Half; Q2 Turns Profit Quarter-on-Quarter

NewTimeSpace News: On June 30, 2026, Chongqing Iron and Steel (01053.HK) issued its 2026 half-year performance forecast. Based on preliminary calculations by the finance department, the company estimates a net profit attributable to shareholders of the listed company of -RMB 179 million for the first half of 2026, representing an increase in loss of RMB 48 million year-on-year. Its non-recurring items-adjusted net profit is projected at -RMB 203 million, marking an expanded loss of RMB 62 million compared with the same period last year.

The company stated that the expanded year-on-year loss in the first half stemmed from weak supply and demand in the domestic steel market and narrowed profit margins between raw material procurement, production and product sales. Meanwhile, global geopolitical tensions and ship lock maintenance works at the Three Gorges Dam drove up costs of iron ore and coal, further squeezing profitability.

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