Lingyuan Iron & Steel disclosed its earnings forecast, expecting a net loss attributable to shareholders of 770 million to 810 million yuan for the first half of 2026, compared with a loss of 578 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 780 million to 820 million yuan, compared with a loss of 576 million yuan a year earlier. The company stated that the steel industry remains in a phase of reducing output, adjusting structure, and optimizing existing capacity, with supply exceeding demand. Steel prices fluctuated within a narrow range, while coal and coke prices rose significantly, squeezing profits through higher costs. Despite the company's all-out efforts to increase revenue, cut costs, and improve efficiency, it was unable to reverse the loss-making situation. Non-recurring gains and losses increased net profit by 11.29 million yuan compared with the same period last year.
Lingyuan Iron & Steel Co LtdCompany expects widened net loss due to steel industry oversupply and rising coal/coke costs.